The Senate is accusing powerful Nigerians of “employing different strategies and tactics to stall” the loan repayment.
The Senate says some prominent Nigerians are “frustrating” the Asset Management Corporation of Nigeria from recovering N4.4 trillion owed the corporation.
Senator Uba Sani, Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, made this known on Friday at a stakeholders meeting.
According to Mr Sani, “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.”
He said that the indebted powerful Nigerians “have been employing different strategies and tactics to stall the repayment of loans running into trillions of Naira.”
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He said they were unwilling to support AMCON but frustrating the corporation because they are the same people that have taken this money from the banks.
“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 for,” the Senator said.
He assured the agency the committee was doing everything within its power to assist AMCON in recovering the N4.4 trillion owed the company.
