We are producing video documentary of so-called big men and women behind N5trillion debt affecting the economy

Ahmed Kuru, managing director of the Assets Management Corporation of Nigeria (AMCON)

The Asset Management Corporation of Nigeria (AMCON) has revealed that Nigerian politicians are among the big debtors owing N5trillion.

Mr. Ahmed Kuru, the Managing Director/Chief Executive Officer of AMCON, made the revelation while speaking at the July 2019 Edition of the Breakfast Meeting. The event was organized by the Nigerian – American Chamber of Commerce.

According to Kuru, occupants of top government positions were the big debtors in the country, adding that AMCON was already working with the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies including ICPC to produce a television documentary of notorious and recalcitrant obligors of AMCON.

He noted that the idea was to produce a permanent document that would show generations yet unborn the alleged big men and women behind over N5trillion debt which has become a bone in the neck for AMCON.

“Sadly, these are the calibre of people we respect in Nigeria but these people are not role models. How can you be a role model when you cannot honour a simple obligation? That is why I have been consistent in the call for the return of the failed bank Act. The way we are handling the issue in the country suggests that we are encouraging a lot of financial rascality. People have to be held accountable for their actions, which I believe would serve as deterrent to others,” he said.

“All economies all over the world depend on the financial infrastructure for growth. If we allow or encourage the destruction of the basis of our financial structure, then the economy would not grow. These are men and women who go to banks, borrow monies with no intention to pay and in the process bring down banking institutions. It takes a lot for a bank to fail. AMCON just rescued Skye Bank with an investment of nearly N1trn,” he added.

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