AMCON: Reps to probe N5.4trillion debts
The House of Representatives has resolved to probe the entire debt profile of Asset Management Company of Nigeria .
The decision followed a motion moved by Cornelius Nnaji of Enugu East/Isi Uzo constituency during Wednesday’s plenary. The motions read in part, “Asset Management Corporation of Nigeria was established in 2010 to among other functions, acquire eligible bank assets from eligible financial institutions and to hold, manage, realize and dispose of eligible bank assets .
“AMCON claimed that 20 individuals/entities are responsible for about 67 percent of the N5.4 trillion debt portfolio of the corporation, an amount which is over 50 percent of the 2018 Budget of Nigeria.”
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