ASSET Management Corporation of Nigeria, AMCON, has hinted that it would disengage Asset Management Partners, AMPs, that cannot cope with the speed and enormous challenges of debt recovery expected by the corporation.
Managing Director/Chief Executive Officer, AMCON, Mr. Ahmed Lawan Kuru, who gave this hint added that the corporation may assign more accounts to AMPs that have shown aggression and zeal based on the review of the AMP scheme so far.
He was speaking at the 2019 edition of the AMCON/AMPs Interactive/Feedback session in Abuja. AMPs, are consortiums appointed by AMCON after a rigorous selection process with specialist skills required to ensure recovery and debt resolution; banking, legal, valuation and accounting. AMCON Kuru said that collaborating with AMPs became
necessary because AMCON has a total loan portfolio of over 12,000 loans of various sizes and sectors that are still lingering many years after the corporation was established.
He stated that when this is compared to AMCON’s staff strength, it became obvious that the corporation surely needed a strategic approach to improve coverage, recovery and results.