• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

  • Fact-Check
  • Economy
    • Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      NUPENG

      NUPENG Suspends Strike After Truce With FG, Labour, Oil Stakeholders

      Customs, Defence Bureau Unveil Airboat for Smuggling War

  • National
    • Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Nnamdi Kanu of IPOB arrested by Nigerian security services

      Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

      Troops Repel Bandit Ambush in Katsina as Four Farmers Abducted in…

      Military Troops during operations

      Troops Recover Arms in Plateau, Intercept Drug-Laden Vehicle in Taraba

    • Government
      • Commissioner of Police, CP Ibrahim Adamu Bakori, and Chief Medical Director of AKTH, Prof. A. Abba Sheshe, and the Managing Director/Chief Executive Officer of KEDCO, Dr. Abubakar Shuaibu Jimeta

        Power Outage: Police Broker Peace Between AKTH, DisCos in Kano

        Nnamdi Kanu of IPOB arrested by Nigerian security services

        Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

        Doctors

        Resident Doctors Commences Indefinite Strike in FCT

        Diplomacy and Digital Innovation – Youth Insight

        Book Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook…

        NAHCON

        Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

  • Security
    • Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno

      SP Abimbola Adebisi

      IGP Appoints SP Adebisi as Lagos Police PRO

      Nnamdi Kanu of IPOB arrested by Nigerian security services

      Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

      Troops Foil Multiple Terrorist Attacks, Rescue Kidnap Victims in Zamfara, Kebbi,…

      Troops Repel Bandit Ambush in Katsina as Four Farmers Abducted in…

  • Features
    • Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Healing Nigeria: A Chronicle of Health Reforms

      Book Review: Is This the Cure? A Look into Healing Nigeria…

      Diplomacy and Digital Innovation – Youth Insight

      Book Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      Charlie Kirk

      Who Really Killed Charlie Kirk? By Femi Fani-Kayode

  • State
    • Prof Isa Pantami, former Minister of Communication and Digital Economy

      Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd…

      Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno

      Commissioner of Police, CP Ibrahim Adamu Bakori, and Chief Medical Director of AKTH, Prof. A. Abba Sheshe, and the Managing Director/Chief Executive Officer of KEDCO, Dr. Abubakar Shuaibu Jimeta

      Power Outage: Police Broker Peace Between AKTH, DisCos in Kano

      SP Abimbola Adebisi

      IGP Appoints SP Adebisi as Lagos Police PRO

      Abubakar Tafawa Balewa University (ATBU) Bauchi

      Bauchi Forum Condemns ATBU’s Plan to Close Faculties

  • Event
    • Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Baze University Management visits TETFUND, Showcases Tech-Driven Growth, National Impact

      PHOTOS: BUK Alumni Association Launches Digital Hub to Unite Global Graduates,…

      Founder Image Merchant Promotion Ltd, Yushau Shuaib, Nigeria Customs CG, CGC Bashir Adewale Adeniyi and the IPRA representative during the 2024 GWA awards in Belgrade, Serbia

      Again, ​IPRA Shortlists Nigeria Customs, IMPR for Golden World Awards, Celebrates…

    • PR Nigeria Award
  • E-Paper
Home Economy AMCON Has over N2tr Assets… Empowers to Possess Assets of Debtors
  • Economy
  • National

AMCON Has over N2tr Assets… Empowers to Possess Assets of Debtors

By
Prnigeria
-
August 15, 2016
AMCON+MD+Ahmed+Kuru
AMCON+MD+Ahmed+Kuru
AMCON+MD+Ahmed+Kuru… Empowers to Trace, Possess Assets of Debtors
The Managing Director and Chief Executive Officer of Asset Management Corporation of Nigeria, Mr. Ahmed Kuru has said that the Corporation is currently managing assets worth over N2trillion.
He also said that the Corporation has the powers through the enabling Act to trace any asset or assets belonging to debtors and seize them through the courts even though such assets were not originally tendered in the loan agreement.
The AMCON boss disclosed this in an Interview with the Economic Confidential.
Kuru said the assignments in the Corporation has been rough and tough. He acknowledged that chasing debtors was the most difficult task facing the corporation just like in the banking system stressing that he has been very busy in debt recovery.
“We have been very busy to recover money. You know it is not easy to recover debts.  If you give your neighbor who came to you under a distressed situation and lend him money, and promise to give you back the money when salary is paid at the end of the month, I can tell you nine out of ten cases will frown their faces when you approach them for refund”, adding that there are some debtors who perpetually do not want to pay debts.
Speaking further on assets and properties of debtors, Kuru said the Act that established AMCON empowers it to go after assets and properties of the debtors wherever they are.
“Our law gives us the right to go after such assets. For instance, if you come under a vehicle and collect AMCON’s money and suddenly we realize that you are somewhere doing other businesses and you have taken our loans for a different project, the law allows us to go after you so far we can link it to the loan. The law also allows “Asset Tracing” which means that it is not only the asset you give us that we should go after. If you have any asset, anywhere, once we can trace it, we can go to the court to obtain the possessing order”, he said.
Asked how he has been coping with powerful debtors in the society, the AMCON boss said emphatically that “No matter how highly placed they are in the society, we will carry out our duty of debt recovery even in the face of intimidation. We will follow any case in court to its logical conclusion be it in the High Court, Appeal Court and up to the Supreme Court until we are satisfied that the Act setting us up have been fully complied with.”
“What I can tell you also is that, once there is common ownership wherever it is, we can go after it. For instance, an “A” may borrow the money, and the principal that borrow the money has interests in “B,” “C” “D” up to “Z.” We can follow all through because the law allows us to do that by linking them up.
He called on debtors to come forward for discussion and find a way out of the indebtedness, noting that the idea of attacking the corporation on the pages of newspapers will not help them.
“We have in this process helped a lot of businesses bounce back and on the part of recovery. We don’t want any business to suffer because of their debts. We are not out to kill businesses but to encourage them to grow by following the global best practices in debt reconciliations and settlements. Our desire is to recover the money for the nation through painless processes”, he said.
by PRNigeria
The Full Interview here: https://economicconfidential.com/2016/08/amcon-assets-excess-n2trillion/ 
NOTE: Economic Confidential is a sister publication of PRNigeria
PRNigeria encourages institutions to be transparent in their information management as it provides news items from authoritative sources for free use by the media
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • AMCON
  • Economic Confidential
  • Managing Director and Chief Executive Officer of Asset Management Corporation of Nigeria
  • Mr. Ahmed Kuru
Previous articleSalkida Responds: I Will Soon be in Nigeria
Next articleFIRS, The Fear of Invading Tax Enforcers
Prnigeria
Prnigeria
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

Prof Isa Pantami, former Minister of Communication and Digital Economy

Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga Ibraheem

Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel Queues End

Nnamdi Kanu of IPOB arrested by Nigerian security services

Court Rejects Nnamdi Kanu’s Request for Transfer to National Hospital

Troops Repel Bandit Ambush in Katsina as Four Farmers Abducted in Zamfara

Military Troops during operations

Troops Recover Arms in Plateau, Intercept Drug-Laden Vehicle in Taraba

Healing Nigeria: A Chronicle of Health Reforms

Book Review: Is This the Cure? A Look into Healing Nigeria By Hanniel Noboh

Diplomacy and Digital Innovation – Youth Insight

Book Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook By Bilkisu Ahmed Shekarau

Renewed Hope in Central Banking

Book Review: Renewed Hope in Central Banking – A Blueprint for Nigeria’s Economic Future By Khadijah Lawan Muhammad

NAHCON

Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu Administration

Shehu Mohammed, corps marshall

SHAKE-UP: FRSC Redeploys Senior Officers to Bolster Operations Nationwide

Troops Foil Terrorist Attacks in Katsina, Raid Hideouts in Sokoto, Recover Motorcycle

Customs Recruitment: Guides on How Shortlisted Applicants Can Validate Emails for Online Test

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga Ibraheem
  • Troops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in Borno
  • Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel Queues End
  • Power Outage: Police Broker Peace Between AKTH, DisCos in Kano
  • IGP Appoints SP Adebisi as Lagos Police PRO
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Gombe Tech Training: Pantami’s Call for a Paradigm Shift By Muhd El-Bonga IbraheemTroops Eliminate 2 ISWAP Senior Commanders, Other Terrorists in BornoDangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel Queues EndPower Outage: Police Broker Peace Between AKTH, DisCos in KanoIGP Appoints SP Adebisi as Lagos Police PROBauchi Forum Condemns ATBU's Plan to Close FacultiesCourt Rejects Nnamdi Kanu’s Request for Transfer to National HospitalResident Doctors Commences Indefinite Strike in FCTTroops Foil Multiple Terrorist Attacks, Rescue Kidnap Victims in Zamfara, Kebbi, KatsinaTroops Repel Bandit Ambush in Katsina as Four Farmers Abducted in ZamfaraTroops Recover Arms in Plateau, Intercept Drug-Laden Vehicle in TarabaBook Review: Is This the Cure? A Look into Healing Nigeria By Hanniel NobohBook Review: Reshaping Diplomacy Through Digital Innovation – A Gen-Z Outlook By Bilkisu Ahmed ShekarauBook Review: Renewed Hope in Central Banking – A Blueprint for Nigeria’s Economic Future By Khadijah Lawan MuhammadRenewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu Administration
X whatsapp