Politics 5 Key Roles of the Newly Set-up Presidential Loan Recovery Commmittee


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The Federal Government has set up an inter-agency committee on the recovery of loans granted to commercial banks and corporate organisations by Asset Management Corporation of Nigeria (AMCON).

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The committee headed by the Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami has several responsibilities saddled upon it. Here are 5 of them:


1. The committee under its chairman is to coordinate the recovery of loans owed to AMCON.

2. The committee is to ascertain recovery by AMCON so far and total outstanding in cash and assets.

3. It is saddled with the responsibility of ascertaining how government at various levels can be made to honour their debt obligations to the Corporation.

4. It is also to request and obtain information from any person or persons and/or entity or entities onshore and offshore with the full support and weight of the Federal Government and its agencies towards the pursuit and realisation of the Committee’s mandate.

5. The committee will as well assist third party investigations outside AMCON office relating to debtors and identify the criminal nature of commercial transactions that would assist in pursuing criminal prosecutions.
 
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