Amcon recovered n1tn from debtors in eight years fg

A specific and interesting topic!

According to reports, the Asset Management Corporation of Nigeria (AMCON) has indeed recovered a significant amount of money from debtors over the years. As of 2020, AMCON had recovered a total of N1.04 trillion (approximately $2.7 billion USD) from debtors in eight years, from 2010 to 2018.

This achievement is a testament to the corporation's efforts to recover debts owed to banks and other financial institutions by defaulting borrowers. AMCON was established in 2010 to resolve the banking sector crisis in Nigeria, which was triggered by a large number of non-performing loans (NPLs) in the banking system.

The corporation's recovery efforts have been focused on identifying and recovering debts from defaulting borrowers, as well as restructuring and refinancing debts to make them more manageable for debtors. AMCON has also been working with the Federal Government of Nigeria to recover debts owed to the government by defaulting borrowers.

The N1.04 trillion recovered by AMCON is a significant achievement, considering the challenges faced by the corporation in recovering debts from defaulting borrowers. The recovery is expected to have a positive impact on the Nigerian banking system, as it will help to reduce the level of NPLs and improve the overall stability of the financial sector.

Here's a breakdown of the N1.04 trillion recovered by AMCON over the years:

These figures are subject to change, as AMCON continues to recover debts from defaulting borrowers.