FG IS CONCERNED ABOUT ENTERPRISES OWING N4 TRILLION IN DEBT

The Asset Management Corporation of Nigeria, AMCON, a federal government body, has asked stakeholders for help in recovering N4 trillion in debt from enterprises and other private entities in Nigeria.

During the weekend, AMCON's Managing Director, Mr Ahmed Lawan Kuru, informed External Solicitors and Stakeholders in Lagos.

He stated that the agency's debt collection mandate is of national significance.

He bemoaned that the N4 trillion debt is the revenue of taxpayers, and so all hands must be on deck to reclaim it.

Kuru, represented by Mr Benedict Daminabo, Group Head of the Corporation, stated that the agency's inability to recover the N4 trillion would add to the federal government's existing N46 trillion debt burden.

"Also, considering that the Corporation has begun to put measures in place for the eventual wind-down of its activities as it is not created to remain in perpetuity, we see working and collaborating with our stakeholders as a priority", he said.