The Federal Government has set up a new task force with a mandate to recover over N5 trillion being outstanding debts owed the Asset Management Corporation of Nigeria (AMCON), without fail.

The task force is to develop a plan that will bring the top 20 AMCON defaulters to book.

Senior Special Assistant to the President on Media and Publicity Office of the Vice-President, Laolu Akande, in a statement said, Yemi Osinbajo, gave the indication Monday evening during a meeting with Board members and Management of AMCON and selected heads of government agencies at the Presidential Villa, Abuja.

The agencies that are to collaborate are the Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and also the Permanent Secretaries of the Justice and Transport Ministries.

The special task force/committee comprise of the Heads of AMCON, the Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and the Ministry of Justice.

They are to work to develop and implement new strategies that will ensure that the determination of the government to recover the money is speedily achieved.

According Osinbajo, all the relevant agencies are to re-plan strategies to achieve the desired results.

“The key is collaboration. We need a small team comprising these agencies to look at the next steps that we need to take, especially the criminal aspect, forfeiture, and all of that,” he directed.

Recall that the Vice-President had previously in May met with AMCON Management to discuss how to resolve the issue.

According to the AMCON Chairman, Mr. Muiz Banire, almost 67 per cent of the outstanding N5 trillion debts is owed by just 20 individuals/entities.

Banire noted that the agency had been “trying its best in its attempt to recover this through the civil judicial process, but had encountered several challenges.”

Also present at the meeting were the Acting Chairman of the EFCC, Ibrahim Magu; Chairman, ICPC, Prof. Bolaji Owasanoye; Director/Chief Executive, NFIU, Mr. Modibbo Tukur; Permanent Secretary, Federal Ministry of Transportation, Sabiu Zakari; and other senior government officials. (The Sun)

Update news