Ahmed Kuru, managing director of
the Asset Management Corporation of Nigeria, says it is worrying that the
chronic debtors that are behind the over N5trillion debt burden are ministers
and members of the national assembly.
Speaking on Wednesday at the July
2019 edition of the Breakfast Meeting, organised by the Nigerian–American
Chamber of Commerce (NACC), Kuru said the corporation is making plans to
produce a full-length television documentary of notorious debtors.
The AMCON MD said the idea was to
document in a permanent format for generations yet unborn to know the so-called
big men and women that are behind the over N5trillion debt burden, which AMCON
is battling to recover.
The worrisome aspect of the
issue, he said, unlike what happens in other clime is that these obligors still
manipulate their way to emerge as members of the national assembly, ministers,
chairmen and women of big organisations and pro-chancellors of universities.
“Sadly, these are the calibre of
people we respect in Nigeria but these people are not role models. How can you
be a role model when you cannot honour a simple obligation?” he said.
That is why I have been
consistent in the call for the return of the failed bank act. The way we are
handling the issue in the country suggests that we are encouraging a lot of
financial rascalities.
“These are men and women who go
to banks borrow monies with no intention to pay and in the process bring down
banking institutions. It takes a lot for a bank to fail. AMCON just rescued
Skye Bank with an investment of nearly N1 trillion.
“As AMCON, we have no power to
arrest these ‘powerful’ people as we depend largely on judicial processes to
recover and we all know the slow pace of judicial processes. We now want to go
a step further by working with the ICPC and the EFCC, which will enable us to
go investigate the credit processes.”
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