The Federal Government has established a task force to aid in the recovery of the outstanding N5tn debts owed the Asset Management Corporation of Nigeria, Vice-President Yemi Osinbajo’s office disclosed.
Osinbajo made the disclosure during a meeting he had with the Board members of AMCON and selected heads of Federal Government’s ministries and agencies at the State House in Abuja.
The agencies represented at the meeting are the Economic and Financial Crimes Commission, Nigerian Financial Intelligence Unit, the Independent Corrupt Practices Commission, and the Ministries of Justice and Transportation.
“To this effect, a special task force/committee comprising the heads of AMCON, the EFCC, the NFIU, the ICPC and the Ministry of Justice will be working to develop and implement new strategies that will ensure that the determination of the FG to recover the money is speedily achieved,” a statement by the VP’s Senior Special Assistant on Media and Publicity, Mr Laolu Akande, said.
He added that the directive was part of the Federal Government’s renewed effort to ensure the effective recovery of over five trillion naira being outstanding debts owed AMCON.
On the task assigned to the committee, Osinbajo was quoted as saying, “The key is collaboration. We need a small team comprising these agencies to look at the next steps that we need to take, especially the criminal aspect, forfeiture and all of that.”
He said that the task force should look at the top 20 AMCON defaulters closely and develop a plan of action that would bring results.
AMCON’s Chairman, Mr Muiz Banire, SAN, had earlier said stated that about 67 per cent of those owing the N5tn were just 20 individuals and entities.
He had stated that AMCON was “trying its best in its attempt to recover this through the civil judicial process, but had encountered several challenges.”
Present at the meeting was the Acting Chairman of EFCC, Mr Ibrahim Magu, the Chairman, ICPC, Prof. Bolaji Owasanoye; the Director/Chief Executive Officer of, NFIU, Mr Modibbo Tukur, the Permanent Secretary, Federal Ministry of Transportation, Mr Sabiu Zakari, and other senior government officials.

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