The Guardian (Nigeria)

AMCON canvasses laws to back debt recovery

- From Anthony Otaru, Abuja

THE Asset Management Corporatio­n of Nigeria ( AMCON) has sought laws to back debt recovery in Nigeria with a view to strengthen­ing the nation’s financial system.

It had on several occasion argued that obligors were getting daring and hiding under legal technicali­ties to frustrate repayment.

Speaking on the sidelines of the award presentati­on organised yesterday by the Associatio­n of Chartered Certified Accountant­s in Abuja, AMCON Executive Director, Aminu Ismail, stressed that the importance of a national policy on debt recovery cannot be over- emphasised, noting that a financial system “is only as strong as its ability to collect debt in parallel to an existing legal system.”

He explained that the organisati­on was working with the Economic and Financial Crimes Commission ( EFCC) in achieving its mandates.

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