Nigeria To Blacklist AMCON Debtors From Transacting Business With Government

Nigeria said it would soon blacklist institutions and individuals that are indebted to the Assets Management Company of Nigeria (AMCON) from transacting business with the government.

According to Vice President Yemi Osinbajo, the government plans to set up an inter-government agency to coordinate and implement its new policy to bar all debtors of the 'bad bank' from doing business with the government.
The Vice President spoke when he received some members of board and management of AMCON, led by its chairman Muiz Banire at the State House, Abuja.
In a statement, AMCON spokesman Jude Nwauzor quoted the Vice President as saying; that the government will no longer fold its hands and allow a few individuals that owe the corporation huge sums of money walk freely on the streets in the country.
“I think the time has come for us (Federal Government) to set some examples with some of these top debtors of AMCON, which I believe will set a good example and serve as deterrent to others,” Osinbajo was quoted in the statement.
While assuring the team that the government would provide AMCON the needed support to enable them go after the obligors that have remained recalcitrant despite the olive branch extended to them over the years by the recovery agency, Osinbajo commended the effort of the management so far in debt recovery.
“I congratulate AMCON for the work done so far having recovered over N1trillion and counting both in cash and in assets. The work you do as a recovery agency is not something that is particularly easy or encouraging because we all know how Nigeria works.
"We are committed to working more closely with your administration to ensure that these monies are recovered from AMCON obligors because it will help our economy and provide the government with more money to continue to improve on the development of infrastructure across the nation.”
Osinbajo said in the next couple of days, he would invite the AMCON team alongside other relevant MDAs to discuss and fine-tune plans on how to ensure that anybody or agency that is a debtor to AMCON are completely made to face the wrath of the Federal Government as those who are indebted to the government are direct enemies of both the government and the people of Nigeria.