AMCON Seeks To Recover ₦4.4trn Debt To Strengthen Economy

The Asset Management Corporation of Nigeria (AMCON) has urged all agencies of the Federal Government and other stakeholders to join in its debt recovery drive as it looks to secure an outstanding ₦4.4trillion debt.

A statement issued on Sunday by AMCON said failure to recover the debt would further aggravate the nation’s economic woes.

Read also: Jimoh Ibrahim Losses Assets To AMCON Over ₦69.4bn Debt

According to the agency, the ₦4.4trillion is bigger than the entire 2021 capital expenditure budget of the Federal Government, which stands at ₦3.85trillion.

The agency believes that the money can go a long way in reviving the iron and steel sectors, as well as improving electricity in the country, of recovered.

“AMCON assured that it is determined to recover these debts because the money belongs to Nigerian taxpayers,” the statement read in part.

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