AMCON BILL PDF

“The committee has worked tirelessly to ensure that when the Bill is passed, AMCON will be further empowered to deliver on their mandate.”. Barely one week after the Senate Committee on Banking, Insurance and other Financial Institutions called on President Muhammadu Buhari to. “The committee has worked tirelessly to ensure that when the bill is passed, AMCON will be further empowered to deliver on its mandate.”.

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Debt Recovery: Reps To Speed Up Amending AMCON Bill — Economic Confidential

Home About Adverts Contact. He said AMCON today has over 3, cases, and counting in different courts across the country with obligors who have the means to pay; are still doing business with other names but have vehemently refused to pay what they owe AMCON. Only 22 States Have Presented Budgets.

Mobile Money and Telcos. This site uses cookies: Home Featured Post Debt Recovery: He therefore said that AMCON having achieved remarkable milestones in the last seven and half years of its creation, is willing to deliver even more if given the needed support from all key stakeholders such as the legislature, the judiciary, the executive among others. Ahmed Kuru AMCON He noted that given the sunset date of AMCON, which he stated was created by the government not to operate in perpetuity, the National Assembly, the executive and the judiciary must ensure that the recovery agency of government meets its obligation within the expected and acceptable timeframe.

Log into your account. This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill. Buhari Inaugurates 15m Abuja Airport Terminal. The bill is seeking to further empower and embolden AMCON with more powers to go after chronic obligors of the Corporation. The Report on the Bill is out and will soon be presented before the House.

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In addition to purchasing non-performing loans from the banks. Next Post Esan National Congress rejects cattle colony proposals.

House of Reps pledges quick passage of AMCON amendment bill – Vanguard News Nigeria

December 30, 4: Cancel Reply Your email address will not be published. Notify me of follow-up comments by email. The AMCON, is the principal vehicle for resolution of the solvency of asset quality problems that have risked the banking system in the last two years and it provides an alternative to the liquidation of distressed banks. He said AMCON today has over 3, cases, and counting in different courts across the country with obligors who have the means to pay; are still doing business with other names but have vehemently refused to pay what they owe AMCON.

AMCON is a vehicle for recapitalizing these institutions. The committee is satisfied with the performance, which would also help the committee make projections and also provide guidance as the case may amdon against their budget.

To receive our NEW investment newsletter containing intelligent investing news, data, analysis and research, type in your e-mail address. It also holds the promise of reducing the debt overhang on capital market operators, thus giving the much needed stimulus to the capital market. This will pave the way for its passage after a third and final reading. State and Local Govts. Providing an insight into how exactly the House of Representatives would aide recovery ajcon the next financial year, Onyereri was quoted in a statement to have said: He assured the lawmakers that the current management of AMCON under his leadership would continually remain prudent and persevere in the face of the adversity posed by the difficult socio-political and economic realities in the country.

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AMCON Amendment Bill ready soon –Reps

This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill. The AMCON boss, Kuru, described the oversight visit by the committee as a good feedback mechanism, which, he said, had over the years afforded the corporation the opportunity to rub minds with the legislature as well as draw from the wisdom of the lawmakers to efficiently and effectively pilot the affairs of the corporation.

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The Report on the Bill is out and will soon be presented before the House.

Golden era for Rivers State. He however assured the lawmakers that the current management of AMCON under his leadership would continually remain prudent just as it would continue to persevere in the face of adversity posed by the difficult socio-political and economic environment.

The bill is seeking to further empower and embolden AMCON with more powers to go after chronic obligors, according to a statement from the corporation on Tuesday. Onyereri who was addressing his colleagues in the Ancient City of Kano at the opening of a three-day retreat said given the sunset date of AMCON, which qmcon stated was created by the government not to operate in perpetuity, the National Assembly, the nill and the judiciary must ensure that the recovery agency of government meets its obligation within the expected and acceptable timeframe.

He noted that House of Representatives Committee on Banking and Currency owe it a duty to Nigerians as mandated by the constitution of the country to visit some of the critical institutions such as AMCON to review their budget performance within the financial year. Senate warns CBN on troubled banks. He, therefore, said that AMCON having achieved remarkable milestones in the last seven and half years of its creation, is willing to deliver even more if given the needed support from all key stakeholders such as the legislature, the judiciary, the executive among others.