• 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
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

      CBN

      The Facts About Nigeria’s Debts Burden Under Tinubu’s Watch By Zekeri…

      Ibrahim Yahaya Dandakata of Arewa Economic Forum AEF

      AEF Slams CBN’s New BDC Policy, Cites Threat to Northern Economy…

      Google Search Tech Digest

      7 Smart Google Search Tips That Will Save You Hours By…

      U.S. VISA

      REVEALED: Why US Reduced Visa Validity for Nigerians to 3 Months…

  • National
    • BREAKING: Nigeria Bids Farewell as Former President Muhammadu Buhari Laid to…

      Gen Lucky Irabor and Muhammadu Buhari

      Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

      Tinubu Receives Buhari’s Remains in Katsina Ahead of Burial in Daura

      Late President Muhammadu Buhari

      Atiku, Osinbajo, Amaechi, Pantami, Others Storm Katsina for Buhari’s Final Rites

      JUST IN: VP Shettima Arrives Katsina With Late Ex-President Buhari’s Body

    • Government
      • Gen Lucky Irabor and Muhammadu Buhari

        Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

        Kogi Confirms Arrest of Kidnappers’ Informants

        Late President Muhammadu Buhari

        Atiku, Osinbajo, Amaechi, Pantami, Others Storm Katsina for Buhari’s Final Rites

        JUST IN: VP Shettima Arrives Katsina With Late Ex-President Buhari’s Body

        Nigeria Engages US, UAE over New Visa Policies, Reaffirms Commitment to…

  • Security
    • Nigerian Police Force

      Police Nab Suspects Over Killing of Chinese National, Arrest 2 Others…

      Nigerian Police Force

      Lagos Police Arrest Suspected Armed Robber, Recover AK-49 Rifle

      Kogi Confirms Arrest of Kidnappers’ Informants

      Badaru and Matawalle

      Buhari’s Patriotism Will Never Be Forgotten — Ministry of Defence

      Police Officer

      Enugu Police Raid Firearms Factory, Recover 10 Guns

  • Features
    • Gen Lucky Irabor and Muhammadu Buhari

      Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

      Tribute to the Late Former President Buhari, By Vice Admiral Awwal…

      Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Customs, NAFDAC and the Fight that Matters

      Late President Muhammadu Buhari

      The Passing of a Mighty Warrior by Chief Femi Fani-Kayode

      President Muhammadu Buhari

      Buhari in his Own Words By Kabir Akintayo

  • State
    • Nigerian Police Force

      Police Nab Suspects Over Killing of Chinese National, Arrest 2 Others…

      Nigerian Police Force

      Lagos Police Arrest Suspected Armed Robber, Recover AK-49 Rifle

      Kogi Confirms Arrest of Kidnappers’ Informants

      Nigeria Engages US, UAE over New Visa Policies, Reaffirms Commitment to…

      Crowned Prince Salman of Saudi Arabia

      ‎Saudi Arabia Mourns Buhari’s Death, Condoles Tinubu

  • Event
    • Late President Muhammadu Buhari

      Northwest Governors Mourn Buhari, Declare Tuesday Public Holiday

      Late President Muhammadu Buhari

      UPDATE: Buhari’s remain for burial Tuesday 2pm – Gov Radda

      Alhaji Ibrahim Musa Suleja

      NIPOST Appoints Ibrahim Musa Suleja Director of Corporate Communications

      Asiwaju Adegboyega Solomon Awomolo

      47 Years of Excellence: Honoring Asiwaju Awomolo, SAN

      NCoS inmates

      58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

    • 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

BREAKING: Nigeria Bids Farewell as Former President Muhammadu Buhari Laid to Rest in Daura

Gen Lucky Irabor and Muhammadu Buhari

Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari

Tinubu Receives Buhari’s Remains in Katsina Ahead of Burial in Daura

Late President Muhammadu Buhari

Atiku, Osinbajo, Amaechi, Pantami, Others Storm Katsina for Buhari’s Final Rites

JUST IN: VP Shettima Arrives Katsina With Late Ex-President Buhari’s Body

Tribute to the Late Former President Buhari, By Vice Admiral Awwal Z Gambo (Rtd) CFR

Late President Muhammadu Buhari

Nation Mourns as AGF Fagbemi and CJN Kekere-Ekun Laud Buhari’s Legacy

Late President Muhammadu Buhari

The Passing of a Mighty Warrior by Chief Femi Fani-Kayode

Secretary to the Government of the Federation

SGF Akume Leads Presidential Committee for Buhari’s State Funeral

Late President Muhammadu Buhari

Northwest Governors Mourn Buhari, Declare Tuesday Public Holiday

FG Declares Tuesday Public Holiday in Honour of Late Ex-President Buhari

Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

Customs Exposes Scam Over Form M Migration to B’Odogwu Platform

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Police Nab Suspects Over Killing of Chinese National, Arrest 2 Others in Plateau
  • BREAKING: Nigeria Bids Farewell as Former President Muhammadu Buhari Laid to Rest in Daura
  • Lagos Police Arrest Suspected Armed Robber, Recover AK-49 Rifle
  • Beyond the Public Gaze: Gen Irabor’s Intimate Farewell to Buhari
  • Kogi Confirms Arrest of Kidnappers’ Informants
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Police Nab Suspects Over Killing of Chinese National, Arrest 2 Others in PlateauBREAKING: Nigeria Bids Farewell as Former President Muhammadu Buhari Laid to Rest in DauraLagos Police Arrest Suspected Armed Robber, Recover AK-49 RifleBeyond the Public Gaze: Gen Irabor's Intimate Farewell to BuhariKogi Confirms Arrest of Kidnappers’ InformantsTinubu Receives Buhari’s Remains in Katsina Ahead of Burial in DauraAtiku, Osinbajo, Amaechi, Pantami, Others Storm Katsina for Buhari’s Final RitesJUST IN: VP Shettima Arrives Katsina With Late Ex-President Buhari’s BodyNigeria Engages US, UAE over New Visa Policies, Reaffirms Commitment to Diplomatic TiesFACT-CHECK: Was Sheikh Emami al-Hadi Arrested in Iran for Being a Mossad Spy?‎Saudi Arabia Mourns Buhari's Death, Condoles TinubuBuhari’s Patriotism Will Never Be Forgotten — Ministry of DefenceEnugu Police Raid Firearms Factory, Recover 10 GunsTroops Ambush Bandits, Eliminate 2, Recover Arms in PlateauTribute to the Late Former President Buhari, By Vice Admiral Awwal Z Gambo (Rtd) CFR
X whatsapp