Senators call for scrapping of AMCON

“The Nigerian Senate calls for the dissolution of Assets Management Company of Nigeria (AMCON) due to dissatisfaction with its performance. Lawmakers expressed dismay over the company’s staggering N146 billion loss within 12 months. During a hearing led by Senator Adetokunbo Abiru, Managing Director Ahmed Kuru faced criticism for AMCON’s consistent losses over 13 years. Senator Sani Musa highlighted the imbalance in the profit and loss summary, advocating for amendments to AMCON’s establishment Act or its complete abolishment. Senator Ibrahim echoed concerns about ineffective regulation in handling bad loans.”