The Asset Management Corporation of Nigeria (AMCON) has announced that since its inception in 2010 till December 2017, it has recovered no fewer than N731 billion.
The Managing Director/Chief Executive Officer of the agency, Ahmed Kuru, who made this disclosure on Thursday, said with such challenges, AMCON was seeking innovative ways of converting its huge portfolio of assets into liquid cash as quickly as possible, as it cannot afford to continue business as usual.
He was speaking at the opening of a two-day Asset Sales Strategy Retreat, in Abuja, which ended on Thursday.
The Asset Management Corporation of Nigeria (AMCON) has announced that since its inception in 2010 till December 2017, it has recovered no fewer than N731 billion.
The Managing Director/Chief Executive Officer of the agency, Ahmed Kuru, who made this disclosure on Thursday, said with such challenges, AMCON was seeking innovative ways of converting its huge portfolio of assets into liquid cash as quickly as possible, as it cannot afford to continue business as usual.
He was speaking at the opening of a two-day Asset Sales Strategy Retreat, in Abuja, which ended on Thursday.
Kuru said a bulk of the recoveries were in form of assets, with properties value accounting for about 35 per cent of the amount.
“We have convened a forum for some of the most resourceful real estate professionals and legal experts to help brainstorm through the issues and proffer practical solutions to the challenges confronting AMCON,” he said.
“We have also invited critical regulatory stakeholders to contribute to the discourse toward finding workable solutions.”
Kuru said AMCON has restructured its internal processes in anticipation of better outcomes in its asset resolution operations.
