“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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The bill, when passed into law, will ensure the Corporation gets all needed support from the National Assembly to meet its mandate. AMCON is a vehicle for recapitalizing these institutions. Bashir Ifo Awarded Djondo Fellowship.

Ahmed Kuru AMCON He noted that given the sunset date of AMCON, which he stated was created by the government not to operate in perpetuity, the National Assembly, the executive and the judiciary must ensure that the recovery agency of government meets its obligation within the expected and acceptable timeframe. 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.

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.

Senate warns CBN on troubled banks. Doing Business in Nigeria.

The Enemy of Good Governance in Gombe. The Central Bank of Nigeria reaffirms that it continues to receive the total support and cooperation of the leadership and members of both arms of the National Assembly in its effort to restore and entrench financial stability and good corporate governance in Banks.

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 amconn but have vehemently refused to pay what they owe AMCON.

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One more reason to read sabinews. He therefore said that AMCON having achieved remarkable milestones in the last seven and half years of its creation, is willing to deliver even more if given the needed support from all key stakeholders such as the legislature, the judiciary, the executive among others.

This will pave the way for its passage after a third and final reading. Mobile Money and Telcos.

He noted that House of Representatives Committee on Banking and Currency owe it a nill to Nigerians as mandated by the constitution of the country to visit some of the critical institutions such as AMCON to review their budget performance within the financial year. Onyereri who was addressing his colleagues in the Ancient City of Kano at the opening of a three-day retreat said given the sunset date of AMCON, which he stated was created by the government not to operate in perpetuity, the National Assembly, the executive and the judiciary must ensure that the recovery agency of vill meets its obligation within the expected and acceptable timeframe.

Buhari Inaugurates 15m Abuja Airport Terminal. He, therefore, said that AMCON having achieved remarkable milestones in the last seven and half years of its creation, is willing to deliver even more if given the needed support from all key stakeholders such as the legislature, the judiciary, the executive among others. Disclaimer Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.

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 The Report on the Bill is out and will soon be presented before the House. Log into your account.

This site uses cookies: It also holds the promise of reducing the debt overhang on capital market operators, thus giving the much needed stimulus to the capital market. 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 of Nigeria to visit some of the critical institutions to review their budget performance within the amconn year.

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The face value of the bonds was N3.

AMCON Bill Sent For Presidential Assent

There is a sunset date for AMCON and it is expected to have achieved its mandate before the sunset date. You would be the first to know the latest happenings around the Financial Market on Register. The Bill has thus been referred to the Senate Committee on Banking, Insurance and other Financial Institutions, to work with Committees on Capital Amcoj and Finance to conduct a public hearing and acmon back to the Senate within a maximum period of four weeks.

Igbo should be given chance — Obasanjo December 30, Ahmed Lawan Kuru, the lawmaker reaffirmed the commitment of the House of Representatives to support AMCON recover the huge outstanding debt in the hands of a few recalcitrant obligors. Pin It on Pinterest. Golden era for Rivers State. December 30, 4: This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill.

House of Reps pledges quick passage of AMCON amendment bill – Vanguard News Nigeria

Efficient utilization of taxes will boost taxation in Nigeria- Institute. Your email address will not be published.

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: Notify me amcoh new bil by email. Fear grips Nasarawa monarchs over sect that promotes fornication, adultery Punch.

This Bill is very important and we promise to work with the Senate in ensuring a quick passage of the Bill. In addition to purchasing non-performing loans from the banks. Leave a Reply Cancel reply.