AMCON Chief seeks establishment of CAC desk to strengthen inter-agency collaboration

The Managing Director of the Assets Management Corporation of Nigeria (AMCON), Mr. Gbenga Alade has appealed for the establishment of an AMCON CAC Desk to strengthen collaboration between the agencies.

The AMCON MD made this known when he paid a courtesy call on the Registrar-General/CEO of the Corporate Affairs Commission, Hussaini Ishaq Magaji at the CAC headquarters in Abuja.

Gbenga Alade who noted with delight the cordial working relationship between AMCON and CAC lamented that some debtors who misappropriated loans, funds, and properties, among others, still remain elusive, hence the need to strengthen collaboration with the CAC as the custodian of company records.

While underscoring the importance of their operations, the AMCON MD maintained that greater collaboration will enable their newly appointed executive committee to trace and recover lost funds.

To ensure speedy recovery, Gbenga Alade proposed the setting up of the AMCON CAC Desk to expeditiously treat their requests.

He went further to request for waivers on searches, among others, as well as the setting up of a joint legal team to address burning issues.

Responding, the Registrar-General/CEO of the Corporate Affairs Commission, Hussaini Ishaq Magaji, SAN, restated his continued support and collaboration with all stakeholders to ensure the successful discharge of their respective mandates.

On corporate loans obtained from banks, the Registrar-General said the setting up of a joint committee was necessary for a deeper understanding of governing laws with a view to ensuring optimal results.

AMCON was established on July 19, 2010 to be a key stabilising and revitalising tool aimed at reviving the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy.-