Sen. Uba Sani, the chairman Senate Committee on Banking, Insurance and other Financial Institutions, has revealed that notable Nigerians were ‘frustrating’ the effort of the Asset Management Corporation of Nigeria (AMCON) at recovering the N4.4 trillion owed the corporation. Information Guide Nigeria

He said this at a stakeholders’ symposium on “Consolidating the effectiveness of the asset recovery model adopted by AMCON” held on Friday at Zuma Rock Resort, Niger State. THE NATION reports.

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“From the N4.4 trillion we are trying to recover, about 350 people in this country are responsible. This is about 83 per cent of the debt”. jamb results

“This is very worrisome. This means that powerful Nigerians are the ones not willing to pay these loans. They have been employing different strategies and tactics to stall the repayment of loans running into trillions of Naira”.

“A lot of highly placed Nigerians are not willing to support AMCON because most of those people are the ones that have taken this money from the banks and of course you know the government came in to set up AMCON to save banks from getting down”.

“But unfortunately, from what is happening, AMCON is finding it very difficult because those people are highly placed Nigerians, they try to frustrate AMCON’s effort through the judiciary and that is what we are looking.”

“It is taxpayers’ money which the government used to bail out banks; of course to try to support the financial sector not to go down”.

“Unfortunately, they are facing a lot of frustration. We will do our best in the interest of our country and protecting the economy of this country and to support AMCON to succeed”.