Managing Director/Chief Executive Officer of AMCON, Mr. Ahmed Lawan Kuru , called for the Senate support when he led the management of the agency to appear before a technical session of the Senate Committee on Banking Insurance and other Financial Institutions in Abuja.
He said that recovering the huge outstanding would have a positive impact on the national economy which ”like other economies has been further challenged by the outbreak of the dreaded coronavirus pandemic.” He put AMCON’s assets under management at about N136.73billion, while the agency has about N112.03bn worth of proprietary assets.The AMCON CEO added, “COVID-19 pandemic has had a monumental impact on the globe and Nigeria in particular. Not only has it adversely affected the global economy, but the entire health system of the world has remained on its knees.
“The continuous rise in inflation and Naira depreciation has also affected the purchasing power of the public thereby affecting obligor’s capacity to repay. Noting the untoward hardship caused by COVID-19 pandemic on most businesses and indeed the economy at large, the Corporation has begun consideration of granting moratorium to deserving obligors that had hitherto shown commitment/seriousness towards resolving their indebtedness.
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