AMCON Blows Whistle, Says Nigerian Big Boys Flying Private Jets are Owing About N5.4trn Debt...See Details

 

Managing director of the Asset Management Corporation of Nigeria, Ahmed Kuru told the Senate on Monday, January 25, that wealthy Nigerians who are still owing to the corporation huge sums of money are still flying private jets.

 

This is even as the Senate has given its approval for AMCON go ahead with the recovery of N5.4 trillion debts owed it by corporate debtors in the country.

 

The AMCON Boss, who spoke after an interactive session with the Senate Committee on Banking, Insurance and other Financial Institutions, chaired by Senator Rafiu Ibrahim, the AM lamented that most of the debtors of the N5.4 trillion debts were still flying in private jets and living in big mansions.

 

Kuru added that the senate was really worried by the ugly development and ready to do anything under the law to ensure that the debt is recovered.

 

He said, “We have seen that most of the debtors in AMCON are big men that fly in private jets, live in big mansions and they take money and they are not paying back but the senate is really disturbed and they are ready to do anything under the law to ensure that the N5.4 trillion that is outstanding obligation of AMCON is repaid.

“The passion they have shown to us today is unprecedented. Because we show to them in its raw form, the challenge that we are having, particularly now that the economy is not doing very well. And where you have less than 5 per cent, less than 300 people, accounting for more than 80 per cent of the outstanding obligation of AMCON. That is very disturbing,” he said.

 

Kuru noted that the demeanor of President Muhammadu Buhari was already helping the corporation towards recovering the debt, even as he hinted that some of the debtors already making positive move in that direction.

 

His words: “The position of the President is helping us to do most of the work that we are doing currently. There are quite a lot of people that were shying away from AMCON before but looking and seeing the body language of the President, they have realised that it is important for them to come and talk to AMCON.

“It is not criminal to borrow money it is only inappropriate not to come and pay those funds because these funds ultimately if we don’t pay them, somehow they carry government guarantee. So, the current body language of the government and from what I have seen from the Senate, there is a harmony and consensus as to the fact that these funds must be paid back,” he said.