AMCON: President Tinubu Ask To Invoke Executive Order to Recover over 4trillion Debts

AMCON: President Tinubu Ask To Invoke Executive Order to Recover over 4trillion Debts


A communication analyst , Abubakar Yusuf has pleaded with President Bola Ahmed Tinubu not to overlook the over 4 Trillion debt owed government by individuals and corporate organisations through Asset Management Corporation of Nigeria AMCON, saying the recovery will galvanise Nigerian economy.

He therefore urged the Nigeria’s President to invoke executive order to effect such recovery without further delay.

He stated this on Sunday in Abuja, that the recovery if carried out, will go along way to affect positively the new fiscal policy framework been put in place by the new administration.

The analyst stressed that many Nigerian business men, enterprenuers, the political class and others are highly indebted to Banks which AMCON had acquired since it’s inception, with no efforts at repayments.

These same Nigerians had gone round to instigate both government and commercial Banks that AMCON tenure was over, without recovering chunk of money from Nigerian debtors, who are moving freely within and outside the shores of the country.

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He further appeal to the President not to consider Bank debtors for both Ministerial and political appointments in his administration, stating that they will destroy his good intentions for the country.

“How can AMCON wound down without recovering the government funds invested in the Banks in the last year, this negates the act setting up the recovery agency.”

“AMCON is expected to work hand in hand with security agencies to remove names of debtors from further holding public offices, as most of them used their positions to acquire debts they have refused to pay.”

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He urged President Bola Ahmed Tinubu to allow AMCON to ventilate it’s powers under the law, and remain not only as the main recovery agent of government, but oversee some of the activities of Banks in Nigeria.

Yusuf maintained that the economic and political stability of the country should go beyond politics, stating that politicians and the political class had connived with business mogul to shortchange Nigeria through series of borrowings.

He cited the recent happenings between AMCON and some serving Senators, former Senators and business men, who are taking advantage of been in government to break the law of the land.

“How can a business man owe AMCON 200B , some serving and former Senators indebted to AMCON ranging into billions, yet walking around freely all in the name of the legal interpretation and pronouncement.”

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“A special court to try Nigerian debtors no matter how highly placed should be put in place to recover public funds.”

He pleaded with the President to direct AMCON to go ahead and publish names of Bank debtors , saying the President will be disappointed to see the list and names of debtors of Banks in Nigeria.

“The easiest way to rejig the ailing Nigeria economy is to recover the over 4 Trillion and inject it into the economy, stating that few privileged people have hijacked the laudable programs of government, stressing the need for the President to start on a clean slate. He concluded.”

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