• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

AMCON struggles to recover N4 trillion debt in Nigeria, urges media to hold debtors accountable

Rosalia Ozibo by Rosalia Ozibo
March 15, 2025
in Business News
AMCON
Share on FacebookShare on TwitterShare on Linkedin

The Asset Management Corporation of Nigeria (AMCON) is grappling with the recovery of over N4 trillion in outstanding debts and has called on the media to help hold debtors accountable.

AMCON’s Head of Corporate Communications, Mr. Jude Nwauzor, made this known while addressing journalists in Ikeja on Friday.

Nwauzor urged the media to play an active role in holding debtors accountable, describing the press as the mirror of society.

RelatedStories

Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court

Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court

February 12, 2025
EFCC, NOUN, Sunflower Hotel

EFCC arraigns ex-AMCON MD, Ahmed Kuru, 4 others for N76bn, $31.5m fraud 

January 20, 2025

He stressed that media engagement could help expose the activities of high-profile debtors and compel them to meet their obligations.

“The management of AMCON is convinced that a deeper collaboration between AMCON and the media will deliver positive dividends for the country,” he said

He explained that many of these debtors, despite owing billions to AMCON, continue to enjoy a luxurious lifestyle, including owning private jets and high-end properties. He argued that media scrutiny could deter such individuals from evading their financial responsibilities.

“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,” he noted

He emphasized that media reports could serve as a tool to pressure debtors into making repayments. He also reiterated that all stakeholders should recognize AMCON’s debt recovery mandate as a matter of national importance.

Resistance and misuse hinder recovery

According to Nwauzor, some debtors failed to use the borrowed funds for their intended purposes, which has complicated the recovery process.

He highlighted that AMCON has continued to face stiff resistance from certain obligors who are unwilling to repay without a fight.

“The leadership of AMCON knows that there is no nice way of recovering debt. Obligors could go to any length to assassinate the characters of AMCON staff members and its management,” Nwauzor stated.

He emphasized that while many debtors had fulfilled their obligations, some remained unwilling to settle their debts.

Impact on the Nigerian economy

Nwauzor cautioned that if AMCON fails to recover the outstanding debt, the federal government will have to settle it using taxpayers’ money.

“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 further stated that such debtors have played a significant role in harming Nigeria’s economy.


Follow us for Breaking News and Market Intelligence.
Tags: AMCON NewsMr. Jude Nwauzor
Rosalia Ozibo

Rosalia Ozibo

Related Posts

Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court
Company News

Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court

February 12, 2025
EFCC, NOUN, Sunflower Hotel
Legal & Regulations

EFCC arraigns ex-AMCON MD, Ahmed Kuru, 4 others for N76bn, $31.5m fraud 

January 20, 2025
Court rules Canadian financier can repossess Arik Air aircraft under Cape Town Convention 
Aviation

AMCON vows to recover N227 billion debt from Arik Air amid liquidation plans 

January 18, 2025
Adrian Wood
Appointments

Ntel appoints former MTN boss, Adrian Woods, as CEO, plans $550 million fundraising  

June 18, 2024
Mr Femi Otedola, ,
Equities

Reports: Billionaire Femi Otedola accuses Zenith Bank of fraud in legal battle  

May 31, 2024
Federal High Court, REA
Legal & Regulations

Debt: Court asked to nullify AMCON’s possession of Oak Farms’ property in Anambra

May 6, 2024
Next Post
Tony Elumelu’s companies record N278.8 billion capital gains in 2 days 

Tony Elumelu: Nowhere beats Africa for return on investment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
Zenth Bank
first bank
Zenth Bank








DUNS

Recent News

  • Airtel tops daily advancers as ASI attains N70 trillion cap, shatters 110,000-barrier 
  • U.S. suspends student visa appointments globally, pushes for social media vetting 
  • UK’s Blockchain.com targets crypto exchange licence in Nigeria as it expands to Africa  

Follow us on social media:

Recent News

IHS Nigeria, Airtel Nigeria

Airtel tops daily advancers as ASI attains N70 trillion cap, shatters 110,000-barrier 

May 27, 2025
United States extends period for work permits for non-citizens

U.S. suspends student visa appointments globally, pushes for social media vetting 

May 27, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics