Finance

‘Our Assets Under Management Now N136.73bn’ – AMCON MD

Asset Management Corporation of Nigeria (AMCON) on Sunday said the assets under its management pegs at N136.73bn while it has about N112.03bn worth of propriety assets.

The Managing Director/Chief Executive Officer, AMCON, Mr Ahmed Kuru, revealed this in a statement entitled, “AMCON N5tn debt: AMCON, Senate collaborates to drive recovery,” during a technical session in Abuja.

The committee met to review the impact of COVID-19 on AMCON policies and process with the view to repositioning AMCON for optimal performance amidst the pandemic.

“The corporation is not deterred because as at August 2020, AMCON’s assets under management amounted to about N136.73bn, while the agency has about N112.03bn worth of propriety assets,” he said.

Kuru renewed the call for legislative support to help the agency to recover loans from prominent defaulters in the society.

He said, “We want the 9th Senate of the Federal Republic of Nigeria to pile pressure on some of our obligors through the Senate Committee on Banking Insurance and Other Financial Institutions under the leadership of Senator Uba Sani as chairman.

“Some of these obligors are very important members of the society and, as distinguished senators, I know they have all it takes to intervene and even compel AMCON obligors to meet their obligation.

“This is because we cannot overemphasise the importance of recovering the huge outstanding and the positive impact it will have in the Nigerian economy, which like other economies have been further challenged by the outbreak of the dreaded coronavirus pandemic.”

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