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AMCON Receives 1.6 Billion Naira Funds Recovered By EFCC | Nigerian News

AMCON Receives 1.6 Billion Naira Funds Recovered By EFCC | Latest Nigerian News

AMCON Receives 1.6 Billion Naira Funds Recovered By EFCC Nigerian News

Between 2017 and July 5, 2021, the Assets Management Corporation of Nigeria (AMCON) received a total of N1,667,582,605.04 - recovered by the Economic and Financial Crimes Commission (EFCC).

According to AMCON, the funds are recovered loan repayments that were credited to its account with the Central Bank of Nigeria for bond obligation settlement.

The corporation disclosed this in a letter to the House of Representatives Ad Hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Federal Government of Nigeria Agencies for Effective Efficient Management and Utilization.
On Tuesday, the committee resumed its investigative hearing in Abuja, where the letter, signed by AMCON's Managing Director, Ahmed Lawan Kuru, and Group Head, Enforcement, Joshua Ikioda, was read.

AMCON stated that remittances to the corporation totaled N1,178,764,500 in 2017 for the credit of nine debtors.
The EFCC recovers N1.6 billion in funds for AMCON.
The corporation stated that it received N356,318,105.08 on September 21, 2020, on account of seven debtors for 2019.

AMCON stated that it received a letter from the EFCC dated December 17, 2019, in which the commission forwarded promissory notes in the account of N1,194,778, 813 on behalf of four debtors.

The notes, according to AMCON, were returned to the EFCC via a letter dated October 28, 2019, as issued by the Debt Management Office.

The letter stated that the committee's schedule forwarded to the corporation indicated EFCC remittances of N87,495,087.50 in 2020.

AMCON, on the other hand, claimed that it had yet to receive the quoted sum.

During the hearing, the Nigerian National Petroleum Corporation also stated that it was working to recover debts from some banks for the dividend funds of the Nigerian Liquefied Natural Gas Limited.
Adejoro Adeogun, the committee's chairman, has directed the NNPC to submit all of its accounts at the next meeting on Tuesday next week.

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