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Prof Osinbajo receives AMCON debt recovery report

The Vice President of Nigeria, Prof Yemi Osinbajo on Wednesday received an Interim Report from an inter-agency committee set up on the recovery of debts owed to the Asset Management Corporation of Nigeria (AMCON).
Members of the Committee led by its Chairman, Bolaji Owasonoye, who is also the Chairman of the Independent Corrupt Practices Commission (ICPC) submitted the report to the VP at the Presidential Villa in Abuja.
Osinbajo said the government would review the report and act accordingly, observing that the issue of AMCON debtors doing further business with government agencies is a due diligence matter and there would have to be compliance with the requirements of the law.
Specifically, the Committee proposed an advisory to the Federal Government that going forward, “all AMCON debtors must not be allowed to transact business or enjoy patronage with any government agency whatsoever, except clearance is obtained from AMCON on the debt status of such obligors,” according to Owasonoye.
“Between 2020 and 2021, AMCON made significant recoveries which are highlighted in the report. Within the period under review, AMCON witnessed 10% growth in the recovery performance across various asset classes.
“For instance, in the year, 2020, the sum of N146 Billion was recovered, while in 2021 the sum of N161 Billion was also recovered. The recovery outlook for 2022 is also looking positive and the Committee will not relent in its effort to engendering more recoveries,” he stated.
He added that the committee will continue its assignment with the institution of bankruptcy proceedings, tax infractions, inquiry as well as other strategies to ensure the obligors are brought under the recovery net of AMCON.
The mandate of the committee, which was inaugurated in September 2019, includes the review of the status of debt owed to AMCON, collating information relating to respective debtors and their current status, deliberating on practical, legal and other strategies for the recovery of the outstanding debt, among others.
The meeting was attended by the Managing Director and Chief Executive Officer of AMCON, Ahmed Kuru, as well as representatives of agencies including the ICPC, Federal Ministry of Justice; Nigerian Financial Intelligence Agency; Nigerian Deposit Insurance Corporation; Central Bank of Nigeria; Department of State Services; and the Economic and Financial Crimes Commission.
Prof Osinbajo receives AMCON debt recovery report
Headlines
Tinubu arrives Katsina to receive Buhari’s body for burial

President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
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“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial

Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
Headlines
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader

His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
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