'Rich Nigerians owe AMCON N5.4 Trillion, still fly private jets'

Managing Director of the Asset Management Corporation of Nigeria, Ahmed Kuru, has lamented that rich Nigerians who are indebted to the agency are still living big and fly around the globe in their own private jets.

Kuru stated this while briefing the Senate Committee on Banking, Insurance and other Financial Institutions on efforts being made by AMCON to recover N5.4tn meant for corporate entities.

Kuru, who led a delegation of the corporation to the senate, held an executive session with members of the committee. ‎

‎He told journalists after the closed session that President Muhammadu Buhari and the Senate had expressed their preparedness to ensure that the debts owed the agency were paid.

According to him, the upper chamber assured AMCON management that it would use all legal means to recover the funds.

He lamented the extravagant lifestyle of the debtors despite owing huge amount of money.

He said, “We have seen that most of the debtors in AMCON are big men that fly in private jets, live in big mansions. They have taken money and they are not paying back.

‎”The Senate is really disturbed and ready to do anything under the law to ensure that the N5.4tn that is outstanding obligation of AMCON is repaid the Corporation.”

He said after reading the body language of the President, some of the debtors are currently in talks with the Corporation to repay the debts.

He said, “The passion the Senate has shown to us is unprecedented because we showed to them in its raw form the challenge that we are having, particularly now that the economy is not doing very well.

“A situation where you have less than five percent, less than 300 people, accounting for more than 80 percent of the outstanding obligation of AMCON. That is very disturbing.”