Senate considers bill to empower AMCON to recover N16trn from loan debtors

A bill seeking to empower the Asset Management Corporation of Nigeria (AMCON), in a move against its N16 trillion loan debtors as well as strengthen it against economic sabotage by debtors with unpaid loans was considered by the Senate today, Tuesday March 23.

The AMCON Amendment Bill 2021, which scaled second reading on the floor was sponsored by Senator Michael Bamidele representing Ekiti Central. Bamidele said the main aim of the amendment is to update a few clauses in the Act that have been hampering the Operations of the Asset Management Corporation of Nigeria.

Read more details at  Punch

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