The Asset Management Corporation of Nigeria (AMCON) on Friday restated its commitment to support the country’s economy by helping businesses to grow.
Mr Ahmed Kuru, Managing Director, AMCON made the assertion at a media parley in Lagos.
Kuru recalled that AMCON was set up during the 2008/2009 global recession to assist businesses in the country cushion the shocks from the recession; a feat, he said, was successful.
The global recession of 2008/2009 informed the setting up of AMCON.
AMCON has achieved the objective because Nigeria have come out of that recession,’’ Kuru said.
Kuru noted that it was important to explain to the media the objective of AMCON to inform the business community of its critical role in supporting the growth of the economy.
According to him, some organisations erroneously believe that AMCON was out to force them out of business, thus maligning it in the media.
Kuru said the task of loan recovery from ailing businesses was huge, adding that it was a burden it was prepared to bear to salvage the economy and support businesses to remain afloat.
Recovery is a very tedious task.
Reluctance on the part of debtors is inhibiting debt recovery,’’ Kuru said.