AMCON, EFCC Collaborate To Recover N4.6trn Debts

Updated Friday 4 August 2017 11:12
AMCON, EFCC Collaborate To Recover N4.6trn Debts

The EFCC acting chairman who welcomed the AMCON boss and his team described the assignments of both agencies of government as “very tough, overwhelming and challenging”.
Magu, however, said he was happy that AMCON under Kuru is doing everything within its mandate to confront the obligors with all the risks involved in the process of doing so.
He said it was for this reason that EFCC established AMCON desk with dedicated EFCC officials who ensure that all AMCON related cases in EFCC receive speedy attention.

Magu assured Kuru that the AMCON Desk at EFCC will continue to be functional adding that the EFCC is willing to increase the number of personnel on the desk if so required and would be willing to establish a Lagos branch if necessary to make sure these huge loans are recovered in the interest of the Nigerian economy.

Condemning the impunity with which the transactions were done, the EFCC boss affirmed that some of these obligors “who took loans without the intention of paying back” did not envisage that someday an agency like AMCON will come knocking on their doors, seeking to recover the loans.

The AMCON boss who further stated that EFCC and AMCON have similar mandates of ensuring economic stability highlighted some of the challenges militating against AMCON’s recovery efforts including slow judicial process, concealment of assets by the obligors, forged documents and in some instances, collusion between the bankers and the obligors among others.

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