Reps Committee Questions AMCON's Asset Sale Practices, Warns of Economic Impact.
The House of Representatives Committee on Public Assets has raised concerns over the Asset Management Corporation of Nigeria (AMCON)'s alleged lack of due diligence in the acquisition and sale of Federal Government assets. Chairman Hon Ademorin Kuye expressed worries about irregularities in AMCON's operations, leading to court reversals of transactions.
One example cited was the nullification of the sale of a property in Victoria Island, Lagos. The committee is investigating AMCON's handling of the Federal Government's stake in Delta Steel Company, highlighting questionable transactions in the power sector and hospitality finance.
These lapses could undermine President Bola Ahmed Tinubu's economic recovery efforts.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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