AMCON BILL PDF

“The committee has worked tirelessly to ensure that when the Bill is passed, AMCON will be further empowered to deliver on their mandate.”. Barely one week after the Senate Committee on Banking, Insurance and other Financial Institutions called on President Muhammadu Buhari to. “The committee has worked tirelessly to ensure that when the bill is passed, AMCON will be further empowered to deliver on its mandate.”.

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CBN Banking Reforms Get a Boost: Reps Pass AMCON Bill, Scales Second Reading at the Senate

There is a sunset date for AMCON and it is expected to have achieved its mandate before the sunset date. Sorry, your blog cannot share posts by email. At Last Legendary Rev Fr.

The bill is seeking to further empower and embolden AMCON with more powers to go after chronic obligors of bbill Corporation. Ahmed Lawan Kuru, the lawmaker reaffirmed the commitment of the House of Representatives to support AMCON recover the huge outstanding debt in the hands of a few recalcitrant obligors.

NASS will work for quick passage of AMCON amendment bill -Onyereri

Leave a Reply Cancel reply. He said AMCON today has over 3, cases, and counting in different courts across the country with obligors who have the means to pay; are still doing business with other names but have vehemently refused to pay what they owe AMCON.

Hamzat lied against me, says Jonathan December 31, The committee is satisfied with the performance, which would also help the committee make projections and also provide guidance as the case may be against their budget. Sir Jones Chukwudi Onyereri, said this at a three-day retreat in Kano. Providing an insight into how exactly the House of Representatives would aide recovery in the next financial year, Onyereri was quoted in a statement to have said: Buhari Inaugurates 15m Abuja Airport Terminal.

In addition to purchasing non-performing loans from the banks. The Enemy of Good Governance in Gombe. This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill.

NASS will work for quick passage of AMCON amendment bill -Onyereri – Sabi News

According to the Chairman, the lawmakers are happy that AMCON as an interventionist institution of the Federal Government, especially under its present management, has performed above board, but are worried that the Corporation is often constrained by institutional and legal stumbling blocks that have continued to hinder them from achieving optimum results especially since public funds were used to buy these loans that helped prevent the EFIs from going under.

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Cancel Reply Your email address will not be published. Igbo should amcoh given chance — Obasanjo December 30, Disclaimer Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof. The Report on the Bill is out and will soon be presented before the House.

With these developments in the National Assembly, amcom Central Bank hopes that all skepticisms around the establishment biol AMCON and unguarded speculations around political support for the reforms have been put to rest. Home About Adverts Contact. Log into your account. He therefore said that AMCON having achieved remarkable milestones in the last seven and half years of its creation, is willing to deliver even more if given the needed support from all key stakeholders such as the legislature, the judiciary, the executive among others.

The bill, when passed into law, will ensure the Corporation gets all needed support from the National Assembly to meet its mandate.

This Bill is very important and we promise to work amco the Senate in ensuring a quick passage of the Bill. Ahmed Kuru, who did not hide the fact that AMCON needs support at this critical time in the life of the Corporation further informed members of the House Committee that obligors of the Corporation are getting bolder by the day and employing all kinds of tricks biill tie AMCON up in court.

AMCON is a vehicle for recapitalizing these institutions. A promise made, a promise kept.

Onyereri, who led other members of the committee on a routine oversight visit to the corporate head office of AMCON in Maitama, Abuja, stated that the committee owed it a duty to Nigerians as mandated by the Constitution of the Federal Republic of Nigeria to visit some of the critical institutions to review their budget performance within the financial year.

This will pave the way for its passage after a third and final reading. Only 22 States Have Presented Budgets. This site uses cookies: The AMCON, is the principal vehicle for resolution of the solvency of asset quality problems that have risked the banking system in the last two years and it provides an alternative to the liquidation of distressed banks. The Report on the Bill is out and will soon be presented before the House.

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Next Post Esan National Congress rejects cattle colony proposals. Senate warns CBN on troubled banks. Onyereri who was addressing his colleagues in the Ancient City of Kano at the opening of a three-day retreat said given the sunset date of AMCON, which he stated was created by the government not to operate in perpetuity, the National Assembly, the executive and the judiciary must ensure that the recovery agency of government meets its obligation within the expected and acceptable timeframe.

Notify me of follow-up comments by email. The bill is seeking to further empower and embolden AMCON with more powers to go after chronic obligors, according to a statement from the corporation on Tuesday. The Bill has thus been referred to the Senate Committee on Banking, Insurance and other Financial Institutions, to work with Committees on Capital Market and Finance to conduct a public hearing and report back to the Senate within a maximum period of four weeks.

Mobile Money and Telcos. He however assured the lawmakers that the current management of AMCON under his leadership would continually remain prudent just as it would continue to persevere in the face of adversity posed by the difficult socio-political and economic environment. Golden era for Rivers State. It also holds the promise of reducing the debt overhang on capital market operators, thus giving the much needed stimulus to the capital market.

He noted that House of Representatives Committee on Banking and Currency owe it a duty to Nigerians as mandated by the constitution of the country to visit some of the critical institutions such as AMCON to review their budget performance within the financial year.

One more reason to read sabinews. All One Min News. There is a sunset date for AMCON and it is expected to have achieved its mandate before the sunset date.