An analysis of the extensive powers of the Asset Management Corporation (AMCON) under the AMCON act

Abstract

In an attempt to provide for more efficiency in the recovery of debts owed under Non-Performing Loans and with a ruthless approach to achieving the Federal Government’s goal of recovering all the outstanding debts that are seen as a cause for the slowdown in the Nigerian Economy, the National assembly seems to be constantly amending the Asset Management Corporation of Nigeria (AMCON) Act 2010 in order to extend the powers of the Asset Management Corporation of Nigeria (AMCON). The powers that have been given to AMCON have never been limited by each amendment, they have only been expanded, this paper seeks to examine all the extensive powers donated to AMCON by the National Assembly to aid the Corporation in its bid to recover these outstanding debts.