AMCON recovers N1.668bn from settlement of bond obligations

• as NNPC moves to recover NLNG dividends revenue from banks • Reps issue 7-days ultimatum for submission of NNPC’s bank statements

settlement of bond obligations, amcon

Management of Assets Management Corporation of Nigeria (AMCON) on Tuesday confirmed the receipt of N1.668 billion recovered by the Economic and Financial Crimes Commission (EFCC) between 2017 and July 5, 2021.

Details of the recovered fund were contained in a letter co-signed by AMCON Managing Director, Ahmed Lawan Kuru and AMCON Group Head, Enforcement, Joshua Ikioda, sent to the House of Representatives Ad-hoc Committee on Assessment and Status of All Recovered Loots, held in Abuja.

According to the synopsis of the payment, AMCON explained that remittances to the Corporation in 2017 amounted to N1,178,764,500 for the credit of nine debtors.

On the recoveries made in 2019, the Corporation acknowledged the receipt of N356,318,105.08 on September 21 2020 from seven debtors.

In a related development, the Corporation confirmed receipt of a letter dated December 17, 2019, from the EFCC forwarding Promissory Notes on account of four debtors to the tune of N1,194,778,813.

AMCON however noted that the Promissory Notes were returned to the EFCC through a letter dated October 28, 2019, as they were issued on behalf of the Debt Management Office (DMO).

The letter pointed out that the schedule forwarded to the Corporation by the Committee indicated remittances by EFCC of the sum of N87,495,087.50 in 2020, while the Corporation said it is yet to receive the quoted amount as it might be collections yet to be released to the Corporation.

In the same vein, the management of Nigeria National Petroleum Corporation (NNPC) also unveiled plans towards the recovery of debts collected by some banks handling Nigerian Liquefied Natural Gas (NLNG) dividend funds.

The committee, led by Hon Adeogun Adejoro, also directed that the NNPC should submit all its accounts by its next sitting next week Tuesday.

While ruling, Hon. Adejoro said all debt owed to the government must be vigorously pursued as money is needed to fund the 2022 budget.


Buhari Urges MTN For Quality Service, Downward Price Review In Cost Of Data, Other Services

President Muhammadu Buhari Friday at State House Abuja urged the MTN Group to make the available top-of-the-range service to its Nigerian subscribers…  AMCON recovers N1.668bn from settlement of bond obligations  AMCON recovers N1.668bn from settlement of bond obligations AMCON recovers N1.668bn from settlement of bond obligations  AMCON recovers N1.668bn from settlement of bond obligations.