The Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru, has said AMCON’s assets under management is now N136.73 billion.
Kuru said this when he led the management of AMCON to appear before a technical session of the Senate Committee on Banking Insurance and other Financial Institutions in Abuja at the weekend.
“In spite of all the challenges and frustrations, which have been heightened by the ravaging pandemic, the corporation is not deterred because as at August 2020, AMCON’s assets under management (AUM) amounted to about N136.73 billion, while the agency has about N112.03bn worth of proprietary assets,” Kuru said.
In a statement, AMCON said the committee met to review the impact of COVID-19 on its policies and process with the view to reposition it for optimal performance amidst the pandemic.
Kuru the Senate needs to do more to support AMCON recovery as some of the top obligors of AMCON still hide under legal technicalities to tie down AMCON in courts.
Chairman of the committee, Senator Uba Sani, assured that the committee and AMCON have identified the strategies being employed by debtors to stall the repayment of loans, including dragging court cases for many years.
“The Assets Management Corporation of Nigeria has remained at the receiving end of these well-laid and orchestrated acts of economic sabotage,” he said.
