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AMCON Moves To Recover N4.4trn Debt Nationwide

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The Asset Management Corporation of Nigeria (AMCON), says it is pushing hard to recover the N4.4 trillion debts owed the company in failed financial institutions it took over its liabilities.
Head, Corporate Communications Department of AMCON, Mr Jude Nwauzor, said this yesterday in Enugu while briefing journalists on enforcement on an indebted person’s property in Enugu used as collateral in a failed bank loan.
Nwauzor said that if the company could recover the N4.4 trillion debts; the country would not have any need to borrow for infrastructural development.
“If we can recover the whooping N4.4 trillion within the time frame; we will not be borrowing for our infrastructural developmental needs,’’ he said.
On the latest court enforcement on an indebted person’s property in Enugu used as collateral in a failed bank loan, he said that AMCON secured “a valid court injunction’’ to take over the property after out-of-court negotiation and settlement failed.
The spokesman said: “We simply came to enforce a court order with the court bailiff and policemen attached to him.
“The enforcement is to take over the landed property used as collateral for taking the failed loan.
“AMCON has nothing doing with a school or shutting it down, as the school and its pupils occupying are still going about their normal learning and other human activities.
“AMCON does not deal with educational institutions, health institutions and religious organisation since these are institutions of public interest.
“So, as we speak, the school is open and academic activities ongoing”.
Nwauzor said that if anyone is not happy with the court order issued, even as the matter is still ongoing in court, he or she should approach the court to get a counter order.
“The ongoing use of the media to fault AMCON enforcement of valid court order is uncalled for and unfortunate.
“There is no amount of newsroom judgment that can overrule a valid court order,’’ he said.
It would be recalled that the property where the school is located belongs to Ferdinand Property Investment Limited.
Several years ago, Ferdinand Property Investment Limited, obtained a loan from UBA Plc, giving Corporate Guarantee in respect of the US$2.9 million AfDB loan granted to Ferdinand Oil Mills Limited in 1989.
Since the loan remained unliquidated, AMCON acquired it, following which the order and originating processes were served on the school on July 16, 2016, but the school pleaded to be given time to enable them to arrange how to settle AMCON.

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Northern Senators’ Forum Seeks Lasting Solutions To Insecurity

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Chairman of the Northern Senators’ Forum, Sen. Aliyu Wamakko, (APC-Sokoto) has called for lasting solutions to tackle the menace of insecurity in the country.
Wamakko made the call while briefing newsmen after the caucus’ closed-door session, held in Abuja, last Wednesday.
He said: “We must continue to find more solutions that can be applied to the security challenges.
“Of course, there are many ways of finding a solution. I know we are using the security outfit very well, but there are other ways of finding lasting solutions to the challenges, facing our country today.
“We are concerned as Nigerians and as northerners.
“This country has to be as free as possible, so that every Nigerian can move freely to do their normal businesses without any fear or security challenge, “he said.
He noted that at resumption on June 22, the forum would hold another meeting which would be aimed at strengthening the decisions taken so far.

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Reps Seek End To Abuses In Orphanages

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The House of Representatives has appealed to the Federal Government to end incessant abuses in orphanages across the country by the operators.
This followed the adoption of a motion by Rep. James Owolabi (APC-Lagos) at yesterday’s plenary in Abuja
Speaking on the motion, Owolabi said that many orphanages were not registered, making it impossible for the authorities to ascertain the actual number of children in their custody.
He said that the unregistered orphanages were also involved in illegal operations such as child trafficking and nocturnal abuse of children.
He said it was the responsibility of government to protect the lives and property of citizens including orphans.
The House therefore, urged the Ministry of Humanitarian Affairs, Disaster Management and Social Development to collaborate with relevant agencies of government towards ending the abuse.
It mandated the committee on Women Affairs to ensure compliance.

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Ganduje Restates Commitment To Community Policing In Kano

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Gov. Abdullahi Ganduje of Kano State has reiterated his commitment to continue partnering with stakeholders in the security sector to ensure the state is safe and peaceful.
Ganduje made this known when the Nigeria Police Force Community Policing Agenda, appointed him as its National Patron.
In a statement issued by the Chief Press Secretary to the Governor, Mr Abba Anwar in Kano, Ganduje said:”we have community policing at the village, ward , local government, emirates levels.
“We chose 16 young people from each of the 44 local governments areas of the state for constabulary training,” he said.
Responding, the National Secretary of the association, Amb. Ibrahim Aboki said that the governor was nominated for his efforts in strengthening community policing.
“This is a man of honesty, integrity and philanthropy, the able and amiable dynamic leader and a ”Goal Getter:
“The security champion, we are presenting to you, an award and a letter as a National Patron.
“We duly acknowledge your role in pioneering, promoting and consolidating all security formations, security agencies and special constabularies,” he said.

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