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Breaking News | Southern Kaduna Wants Own State — SOKAPU

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By Ibrahim HassanWuyo Southern Kaduna Peoples Union (SOKAPU) has sought the creating a new state from the present Kaduna State so as to stop the bloody violence that seemed to defy solution in the state.
This was part of the presentation and defence of the SOKAPU memo during the North-West public constitution review hearing in Kaduna on Wednesday.
SOKAPU President, Hon. Jonathan Asake said, the Southern and Northern Kafuna, infamous for incessant inter-ethnic and religious clashes for decades, have agreed that creating a new state from the present Kaduna State will go a long way at solving the age-long problem. ....

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As Empowered AMCON Goes after Recalcitrant Debtors

Louis Achi
On Wednesday, April 28, 2021, the Senate passed an Asset Management Corporation of Nigeria (AMCON) Amendment bill that empowers the corporation to, among others, take possession, manage or sell all property traced to debtors.
This is notwithstanding whether or not such assets or property were used as security/collateral for obtaining the loan in particular.
The passage of the crucial bill followed the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions. AMCON is also being empowered to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters.
Chairman of the Committee, Senator Uba Sani (APC, Kaduna Central), in his presentation said the Committee engaged with stakeholders such as AMCON, Federal Ministry of Finance, Budget and National Planning; Central Bank of Nigeria; and Nigeria Deposit Insurance Corporation (NDIC). ....

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Senate passes AMCON amendment bill - Vanguard News

Vanguard News
Senate passes AMCON amendment bill
On
The Senate has passed the Asset Management Corporation of Nigeria (AMCON) Amendment Bill.
This followed the adoption of the report of Senate Committee on Banking, Insurance and Other Financial Institutions at plenary on Wednesday.
Presenting the report, Senator Uba Sani, Chairman of the Committee, said the committee engaged stakeholders including AMCON, Ministries of Finance, Budget and National Planning, Central Bank of Nigeria (CBN), and Nigeria Deposit Insurance Corporation (NDIC) before arriving at its conclusion.
He said the stakeholders in their submissions suggested that AMCON be empowered to take possession, manage, sell, transfer, assign property used as security for eligible bank assets among others. ....

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With New Bill, Senate Empowers AMCON to Seize Debtors' Assets

Deji Elumoye and Udora Orizu
The Senate yesterday passed the Asset Management Corporation of Nigeria Amendment (AMCON) bill after considering the report of its Committee on Banking, Insurance, and Other Financial Institutions.
The amendment bill empowers AMCON to, among others, take possession, manage or sell all assets traced to debtors, whether or not such assets or property are used as security/collateral for obtaining the loan.
It also empowers the corporation to access the special tribunal established by the BOFIA, 2020 for dealing with financial related matters.
Presenting the report, Chairman of the Committee, Senator Uba Sani (APC, Kaduna Central), said the committee engaged with stakeholders such as AMCON, the Ministry of Finance, Budget and National Planning; Central Bank of Nigeria and Nigeria Deposit Insurance Corporation (NDIC). ....

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Breaking News | Breaking News Seizing debtor's assets now legal as Senate passes amended AMCON bill

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The Senate, on Wednesday, passed the amended Asset Management Corporation of Nigeria (AMCON) bill which makes the seizing of debtor’s assets legal.
The passage followed the consideration of a report by the Committee on Banking, Insurance, and Other Financial Institutions.
The amendment bill passed by the upper chamber of the National Assembly empowers the AMCON to, amongst others, take possession, manage or sell all properties traced to debtors, whether or not such assets or property is used as security/collateral for obtaining the loan in particular.
It also empowers the corporation to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters. ....

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