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AMCON To Publish The Names Of 7,912 Debtors

The Asset Management Corporation of Nigeria (AMCON) has announced that it will publish the names of 7,912 debtors who owe a total of N4.4 trillion.
In response to a Senate directive, the corporation issued a 30-day deadline for debtors to regularize their debt status last year.

The AMCON amendment bill was passed by the Senate in April 2021 to strengthen the agency’s loan recovery capabilities.

The amendment bill authorizes AMCON, among other things, to seize, manage, or sell all assets traced to debtors, regardless of whether such assets or property are used as security/collateral for obtaining the loan in question.

AMCON’s spokesperson, Jude Nwauzor, stated that debtors who have yet to provide a repayment proposal risk having their information published in the media after the national assembly’s 30-day grace period.

According to report from the dailies, the corporation stated that it has no choice but to comply with the national assembly’s directive to publish the names of debtors who have refused to repay their loans.

“AMCON has already made the decision to publish.” The decision has already been made.

“As a responsible corporate citizen, we published an ad warning all entities involved that their names would be published when the ultimatum expired.”

” the one-month grace period has expired.”

According to AMCON, the agency inherited 12,743 non-performing loans, and 4,831 debtors have settled their debts, leaving a total of 7,912 outstanding debtors.
According to Nwauzor, some debtors approached the agency to avoid embarrassment.

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