When it was established in 2010 by the act …, it was to last for 10 years; meaning that end to exist by 2020. However, Assets and Management Agency (AMCON), that was supposed to recover all assets from debtors is still in existence; it is gradually ‘everliving agency’ with the senate of the Federal Republic of Nigeria extending it’s life span in 2020.
However, the extension of it’s life span is not the issue, but the issue is that like most intervention agency, how well has AMCON done its job?
AMCON has truly tons of assets belonging to bank debtors who defaulted in the loan they obtain from banks but how many have it been able to sell to return the money such debtors borrowed? Only ….% according to a statement I released recently but worsen the unemployment condition of the country as workers in companies it seized and cannot find buyers are thrown into labour market with reckless abandoned. Rather than keep such companies alive but make sure that such
