FG will no longer do business with AMCON debtors, Osinbajo warns

Vice President Yemi Osinbajo, at the weekend said the federal government will deal decisively with individuals and organisations that made the list of high-profile obligors of Asset Management Corporation of Nigeria (AMCON).

He said the debtors have made it impossible for the corporation to resolve its outstanding N5trillion debt, thereby holding the entire country to ransom with their bad behaviour.

Osinbajo was quoted in a statement issued by AMCON, as disclosing a plan by the government to set up an inter-agency collaboration framework that would comprise relevant government Ministries, Departments and Agencies (MDAs) and supervised by his office to ensure that institutions and individuals that are indebted to AMCON are not allowed to do business with the government henceforth.


The vice president who spoke when he received some board members and management of AMCON at the State House, Abuja, led by the Board Chairman, Dr. Muiz Banire, said the federal government under the leadership of President Muhammadu Buhari, would no longer fold its hands and allow a few individuals that owe AMCON huge sums of money to walk freely on the streets in the country.

“I think the time has come for us (federal government) to set some examples with some of these top debtors of AMCON, which I believe will set a good example and serve as deterrent to others,” he said.