Monday, 3 July 2017

Yacht and Private Jet Owners Owe us Money Worth N2.5tn......AMCON

According to a report by AMCON, several high profile Nigerians currently owe them trillions of Naira but have refused to pay. According to the report.....

In truth, these debtors are not financially bankrupt, as they want the public to believe. Their arrogance manifests in a leak by AMCON Managing Director, Ahmed Kuru, who alerted the nation in 2016 to the fact that many of the debtors were running around in private jets and yachts. Therefore, nothing should stop AMCON from recovering the debts.

Essentially, AMCON is up against just 350 Nigerians, who have been indebted to the taxpayer since 2010 when the bad debt bank was created. The infamous 350 club is an infinitesimal number compared to Nigeria’s estimated 180 million population, according to the World Bank. But, significantly, their debt stock covers the entire deficit of N2.35 trillion in the just-signed 2017 budget. Coincidentally, the financially-handicapped Federal Government is going to borrow from local and international organisations to finance the deficit when there is a ready-made solution to its woes.

As of December 2016, the likes of Capital Oil and Arik Air were allegedly behind in repayment by billions. Curiously, some of the companies concerned deny owing, while others dispute the figures. So, they have taken AMCON to court. The long list of litigation is a serious setback for AMCON, which says the debtors are contesting a total of N1.7 trillion in court. Sadly, court judgements these days are inconsistent, allowing the debtors to escape with their assets intact and continue their obscene life of luxury, while indebted to the Nigerian state.


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