The Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Asset Management Corporation of Nigeria (AMCON), on Thursday, said they have resolved to partner in the recovery of assets worth trillions of naira from entities owing the government of Nigeria.
The ICPC spokesperson, Rasheedat Okoduwa, in a statement said the decision to forge this collaboration emerged during a courtesy visit by AMCON‘s management to ICPC headquarters in Abuja recently.
She said the AMCON Chairman, Dr. Muiz Banire, speaking during the visit revealed that debts worth N4.9tr were being owed the government by numerous entities, and as such they were in the Commission to partner with it in order to “rescue the system from impending disaster by recovering the outstanding indebtedness”.
Quoting Banire, Okoduwa said, “Out of 12,000 accounts in AMCON, 350 entities owed 80 per cent of the N4.9 trillion and the corporation is concerned that it is unable to recover the money, while its lifespan is limited.”
She said, Banire added that AMCON was faced with the task of the recovery of government assets, but noted that partnership with ICPC would help the challenges often encountered in recovery.
Okoduwa said, ICPC Chairman, Professor Bolaji Owasanoye, pledged the Commission’s commitment to partnering with AMCON to achieve its mandate of assets recovery which incidentally was also an important part of ICPC’s work.
She said he promised that the Commission would set up a task team to put the partnership into effect and that many fraudulent transactions that had taken place would be unravelled and resolved.
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