House of Representatives Committee on Banking and Currency said that the lower chamber will work with the Senate to ensure quick passage of the AMCON amendment bill. Chairman of House of Representatives Committee on Banking and Currency, Hon. Sir Jones Chukwudi Onyereri, said this at a three-day retreat in Kano.
He noted that 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.
He said, “Earlier this year, we had a public hearing and a technical session on the AMCON amendment Bill. The Report on the Bill is out and will soon be presented before the House.
“This shows our commitment in ensuring that AMCON gets all the support it can get from the National Assembly in carrying out its mandate. This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill.
As we are all aware, AMCON was not created to exist in perpetuity. There is a sunset date for AMCON and it is expected to have achieved its mandate before the sunset date. Therefore, and more importantly, we are here to interact with AMCON to see how we can further help in making sure that AMCON achieves this mandate for the common good of the country.”
In his remarks, Managing Director/Chief Executive Officer of AMCON, Mr. 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 to tie AMCON up in court.
He said AMCON today has over 3,000 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.
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.