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‘Judiciary critical in AMCON’s N4.4trn debt recovery efforts’

By Joseph Chibueze, Abuja
16 December 2021   |   4:04 am
Administrator of the National Judicial Institute (NJI), Justice Salisu Garba Abdullahi, says the judiciary has a critical role to play in the effort to recover the N4.4 trillion outstanding debt currently shouldered by the Asset Management Corporation of Nigeria (AMCON).

Asset Management Corporation of Nigeria (AMCON).

Administrator of the National Judicial Institute (NJI), Justice Salisu Garba Abdullahi, says the judiciary has a critical role to play in the effort to recover the N4.4 trillion outstanding debt currently shouldered by the Asset Management Corporation of Nigeria (AMCON).

Justice Abdullahi stated this in Abuja when he addressed Judges of the Federal High Court during the yearly 2021 Judges Conference/interaction with relevant government agencies in the country.

This year’s interaction had as its theme: “The Federal High Court in the Digital Age, for Economic Development and the Stability of the Financial System.”

He said looking at the huge outstanding debt burden of AMCON, the critical role the Corporation plays in the financial sector, and the resistance the agency is facing especially from obligors in the recovery drive, the judiciary cannot afford to be lax or take a back seat approach to the issue but must strive to do its best in executing its responsibility.

A statement issued by Head, Corporate Communications Department of AMCON Jude Nwauzor quotes the NJI boss as saying that a formidable milestone accomplished through the interactions of AMCON with Judges is the constitution of the AMCON Task Force at the Court of Appeal.

He implored the Chief Judge of the Federal High Court to do the same at the Federal High Court.

The Chief Judge of the Federal High Court, Hon. Justice John Terhemba Tsoho, in his own remark, said he agrees with the position of the NJI Administrator, adding that it was because the Federal High Court recognised the strategic importance of the AMCON assignment that the Judiciary in the country has been very supportive of AMCON’s recovery activities.

Earlier, Managing Director/Chief Executive Officer of AMCON, Ahmed
Lawan Kuru, thanked the Chief Judge of the Federal High Court, Justice Tsoho for the opportunity to be at the gathering.

He said the interaction is coming at a very important and critical time when the Corporation is reviewing its strategy towards sunset and when the Chief Judge has constituted an AMCON task force.