Toxic loans, courts may force AMCON’s burdens on taxpayersNigeria — The Guardian Nigeria News – Nigeria and World News


Managing Director, AMCON, Ahmed Kuru. Photo/NAIRAMETRICS

Seized Assets Face Capital Erosion Amid Agency’s Monetisation Hurdles
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Odds against the Asset Management Corporation of Nigeria (AMCON)’s efforts to dispose of seized assets are growing, a development that could potentially slow down its debt recovery programme.

The Guardian gathered that the assets scattered in different parts of the country have suffered value erosion, even as the asset management company struggles to lease or sell them
In the event, the corporation fails to monetise the said assets, the accumulated non-performing loans (NPL), which amounts to N5trillion could be passed on to the Federal Government and ultimately taxpayers, who are already suffering the pangs of soaring public debts.
Managing Director of AMCON, Ahmed…

Source: Guardian Newspaper