Debt Recovery Arduous, Erring Obligors Killing Economy – AMCON
The Asset Management Corporation of Nigeria (AMCON) says its debt recovery task has been arduous and challenging as some debtors are unwilling to pay.
The AMCON Head of Corporate Communications Department, Mr Jude Nwauzor, made this known while briefing newsmen in Ikeja on Friday. He said that some debtors did not use the loans for the purpose they were intended.
He said that although thousands of Nigerians and Nigerian companies had honoured their obligations, AMCON had continued to face resistance from a number of debtors unwilling to pay without a fight.
Nwauzor said that the leadership of AMCON knew that there was no nice way of recovering debt. He said that obligors could go any length to assassinate characters of AMCON staff members and its management.
He urged that all stakeholders including the media should recognise AMCON’s mandate of debt recovery as one of serious national importance. He emphasised that AMCON was being owed over four trillion Naira.
“If at sunset AMCON is unable to recover the huge debt of over N4 trillion, it becomes the debt of the Federal Government of Nigeria for which taxpayers’ money will be used to settle.
“The implication is that the general public will be made to pay for the recklessness of only a few individuals,” he said.
He said that such debtors contributed in killing Nigeria’s economy. Nwauzor urged the media to be interested in debtors repaying loans, describing the media as the mirror of the society.
“The management of AMCON is convinced that a deeper collaboration between AMCON and the media will deliver positive dividends for the country.
“We believe that when these obligors, who own some of the private jets you see at our airports, are challenged by the media, they will not be as bold and audacious as they have become,” Nwauzor said. #Debt Recovery Arduous, Erring Obligors Killing Economy – AMCON#
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