Senators Call For Scrapping of AMCON

 

The Senate has called on the Federal Government to scrap the Assets Management Company of Nigeria, AMCON.

 

The call was made by the lawmakers after they expressed their dissatisfaction over the performance of the management of the company.

 

They were peeved that the company recorded a loss of N146 billion within a period of 12 months.

 

The Managing Director of AMCON, Ahmed Kuru, and his management team came before the Senate Committee on Banking, Insurance and other Financial Institutions led by Senator Adetokunbo Abiru on Wednesday.

 

The lawmakers pointed out that in the past 13 years, the company has been run at a loss consistently.

 

After examining AMCON’s balance sheet, Senator Sani Musa said, “I can see from the balance sheet, the summary of profit and loss. Most of the digits are at loss.

 

Senator Ibrahim also spoke in a similar vein.