AMCON boss wants courts to have debt recovery powers

, Magazine

Managing Director of the Asset Management Corporation Ahmed Kuru has advocated for the return of the  Failed Banks Tribunal (or Act). Kuru made this known when members of the  Risk Management Association of Nigeria (RIMAN) paid him a visit.   

In his view, reinstating the Act would enhance discipline in the banking industry.

From referees to debt collectors? : Kuru may be indirectly advocating for courts in the country to become debt recovery agents in the country.

A section of the degree empowered the tribunal to recover debts.

 THE TRIBUNAL SHALL HAVE POWER TO RECOVER, IN ACCORDANCE IN ACCORDANCE WITH THE PROVISIONS OF THIS DECREE, THE DEBTS OWED TO A FAILED BANK, ARISING IN THE ORDINARY COURSE OF BUSINESS AND WHICH REMAIN OUTSTANDING AS AT THE DATE THE BANK IS CLOSED OR DECLARED
A FAILED BANK BY THE CENTRAL BANK OF NIGERIA