Managing Director,Chief Executive Officer, AMCON, Mr. Ahmed Kuru

The Asset Management Corporation of Nigeria (AMCON) wednesday described the news making the rounds that its activities are being influenced by the presidency as false.

AMCON contended in a statement wednesday that a letter published by an online medium on the matter was a routine correspondence between the office of Chief of Staff to the President and relevant Ministries, Departments and Agencies (MDAs) of government including AMCON to seek clarifications and enable briefings to Mr. President on issues considered as having strategic national importance.

It explained: “Our attention has been drawn to a story in an online publication purporting that AMCON is being influenced to make business decisions by the presidency.

“The said letter, which the story brandished, is routine correspondence between the office of Chief of Staff to the President and relevant Ministries, Departments and Agencies (MDAs) of government including AMCON to seek clarifications and enable briefings to Mr. President on issues considered as having strategic national importance.
“There is nothing in the contents of all our correspondences to suggest an influence on AMCON in its business decisions or translate to prospecting business on behalf of any individual, group or organisation as the earlier correspondence on the subject matter clearly required AMCON to exercise due care in the overall interest of the Federal Republic of Nigeria.”

As part of its aggressive debt recovery drive, AMCON recently disclosed that it had engaged the services of asset tracing experts to help recover assets from its debtors that have investments outside the country.
Managing Director/Chief Executive Officer, AMCON, Mr. Ahmed Kuru, who said this in response to enquiry from THISDAY on how the corporation had been handling cases of debtors that have assets outside the country, had said the corporation engaged the services of lawyers outside the country to help it carry out the task of assets tracing.
“You know gradually, the world has become a global village. What you need to do is that once you have a local judgement, you engage a lawyer that will go and file the case over there. That is why in some of our cases, we do assets tracing,” he had explained.