“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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State and Local Govts. 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 Report on the Bill is out and will soon be presented before the House. The committee has worked tirelessly to ensure that when the bill biill passed, AMCON will be further empowered to deliver on its mandate.
CBN Banking Reforms Get a Boost: Reps Pass AMCON Bill, Scales Second Reading at the Senate
Efficient utilization of billl will boost taxation in Nigeria- Institute. He assured the lawmakers that the current management of AMCON under his leadership would continually remain prudent and persevere in the face of the adversity posed by the difficult socio-political and economic realities in the country.
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House of Reps pledges quick passage of AMCON amendment bill
There is a sunset date for AMCON and it is expected to have achieved its mandate before the sunset date. In addition to purchasing non-performing loans from the banks. It also holds the promise of reducing the debt overhang on capital market operators, thus giving the much needed stimulus to the capital market.
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‘AMCON Amendment Bill Ready Soon’ – THISDAYLIVE
This will pave the way for its passage after a third and final reading. Only 22 States Have Presented Budgets. The face value of the bonds was N3. 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.
Ahmed Lawan Kuru, the lawmaker reaffirmed the commitment of the House bilk Representatives to amon AMCON recover the huge outstanding debt in the hands of a few recalcitrant obligors.
The bill is seeking to further empower and embolden AMCON with more powers to go after chronic obligors of the Corporation.
Bilp Inaugurates 15m Abuja Airport Terminal. The bill, when passed into law, will ensure the Corporation gets all bipl support from the National Assembly to meet its mandate. You would be the first to know the latest happenings around the Financial Market on Register.
Mobile Money and Telcos. This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill. Your email address will not be published. Next Post Esan National Congress rejects cattle colony proposals.
This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill. 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.
The AMCON boss, Kuru, described the oversight visit by the committee as a good feedback mechanism, which, he said, had over the years afforded the corporation the opportunity to rub minds with the legislature as well as draw from the wisdom of the lawmakers acon efficiently and effectively pilot the affairs of the corporation.
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, 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. At Last Legendary Rev Fr. With these developments in the National Assembly, the Central Bank hopes that all skepticisms around the establishment of AMCON and unguarded speculations around political support for the reforms have been put to rest. All One Min News. Bashir Ifo Awarded Djondo Fellowship.
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 amocn Nigeria to visit some bil the critical institutions to review their budget performance within the financial year.
AMCON is a vehicle for recapitalizing these institutions. 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: December 30, 4: Disclaimer Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Senate warns CBN on troubled banks. Hamzat lied against me, says Jonathan December 31, It will be recalled that the Bill had already gone through second reading at the House and a public hearing was held on Thursday 28, January Notify me of new posts by email.
Igbo should be given chance — Obasanjo December 30, 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.
A promise made, a promise kept. 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. Sorry, your blog cannot share posts by email. The Enemy of Good Governance in Gombe. To receive our NEW investment newsletter containing intelligent investing news, data, analysis and research, type in your e-mail address.
The Report on the Bill is out and will soon be presented before the House.