FG Constitutes Crack Team to Recover N5trn Debts

July 31, 2019
external debt service

By Adedapo Adesanya

A task force has been set up by federal government with the sole aim to work out strategies to be used to recover the more than N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON) by some prominent and influential Nigerians.

The constitution of this crack team by government came after a meeting of the Vice President, Mr Yemi Osinbajo with the Heads of financial crimes agencies and Heads of FG’s Ministries in the State House, Abuja on Monday night.

The task force comprises the Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC), and the Ministry of Justice.

It was gathered that representatives of the EFCC, ICPC, NFIU, ICPC, AMCON and the Ministry of Justice and Transportation were present at the meeting with Vice President yesterday night.

While speaking on the essence of the task force, Mr Osinbajo said, “The key is collaboration. We need a small team comprising these agencies to look at the next steps that we need to take, especially the criminal aspect, forfeiture and all of that.”

In a statement released after the meeting, the government said, “To this effect, a special task force/committee comprising the heads of AMCON, the EFCC, the NFIU, the ICPC and the Ministry of Justice will be working to develop and implement new strategies that will ensure that the determination of the FG to recover the money is speedily achieved.”

Business Post recalled that some days ago, the head of AMCON, Mr Ahmed Kuru, had hinted that his agency was working on a documentary to be aired on television, showing names of the debtors. READ IT HERE

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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