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FG to Seize Doing Business with AMCON Debtors

20th May 2019

Vice-President Yemi Osinbajo says the federal government will no longer do business with those indebted to Asset Management Corporation of Nigeria (AMCON). Osinbajo said those who are indebted to the government — via AMCON — are direct enemies of both the government and the people of Nigeria.

The VP said the debtors have made it impossible for the corporation to resolve its outstanding N5 trillion debt thereby holding the entire nation to ransom with their bad behaviour.

Osinbajo, who is the chairman of the economic council, also disclosed plans by government to set up an inter-agency collaboration framework that would comprise relevant government Ministries, Departments and Agencies (MDAs) and supervised by the office of the vice president to ensure that institutions and individuals that are indebted to AMCON are not allowed to do business with government henceforth.

The VP said this when he received some board members and Management of AMCON at the state house, Abuja, led by Muiz Banire, the board chairman.

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