A new plan to recover N5trillion debts has been drawn up by the Federal Government. This plan will help Asset Management Corporation of Nigeria (AMCON)recover these debts.... Some 105 businessmen and companies are owing the toxic debts. Twenty individuals and firms account for N3.35trillion (67 %) of the N5trillion debts. The debtors may lose their assets, unless they pay up.
It was learnt that the government may invoke against the debtors the Interim Forfeiture Clause in the Economic and Financial Crimes Commission (EFCC) Establishment Act 2004 and the Independent Corrupt Practices and Other Related Offences Commission (2000) Act.
The decision to raise a task force was taken at a closed-door meeting between Vice President Yemi Osinbajo and some heads of anti-graft agencies.
Credit: stelladimokokorkus.com
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