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FG inaugurates presidential committee on loans recovery

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By Precious Enwenede, Abuja

A Presidential Inter-Agency Committee on recovery of loans granted to commercial banks and corporate organizations by Asset Management Corporation of Nigeria (AMCON) has been set up by the Federal Government.
This was revealed in a statement made available to the media on Monday by Comrade Salihu Othman Isah, spokesman of the Honourable Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN who said the inauguration was held on Thursday, 19th May, 2016 in Abuja.
Isah explained that the Minister who heads the Committee in his speech recounted that AMCON was established by the Act of the National Assembly to prevent the collapse of the Nigerian banking sector following the banking crisis as a result of the Bank Consolidation Reforms in 2008.
According to him, the AGF pointed out that the above situation led to huge indebtedness for banks which culminated in the eventual purchase of the toxic loans by AMCON in order to stabilize the banking sector, and by extension the Nigerian economy.
However, the debtors who cut across the aviation, banking and oil and gas sectors failed to repay the loans while some of them had resulted to court actions all in their bid to frustrate the loan recovery efforts of AMCON, surmising that in some cases, this was with active conspiracy of some financial institutions among others.
Malami explained that this resulted to Mr. President’s gracious approval and directive for the establishment of an Inter-Agency Committee by President Muhammadu Buhari to effectively pursue the loan recovery.
Among the terms of reference of the Committee are to ascertain the current status of AMCON recoveries in terms of achievement from inception to date as well as the total outstanding viz value of assets; and to ascertain how government at various levels can be made to honour their debt obligations to the Corporation.
It is also to request and obtain information from any person or persons and/or entity or entities onshore and offshore with the full support and weight of the Federal Government and her agencies towards the pursuit and realization of the Committee’s mandate; as well as to assist in third party investigation outside AMCON office relating to obligors and identify the criminal nature of commercial transactions that would assist in pursuing criminal prosecutions.
In addition, the Committee will ascertain how government agencies can collaborate to support AMCON’s recovery effort in; (a) ensuring payments due to Obligors are made to AMCON, (b) the possibility of going into a Joint Venture Agreement with AMCON (c) the acquisition of forfeited assets from AMCON and (d) take-over of recalcitrant businesses/companies where feasible.
It is also expected to establish the working framework for the Committee such that AMCON could have direct contact with the agencies for assistance and report be made to the Committee on achievement and challenges as well as to design and come up with workable strategies to pursue aggressive recovery of the AMCON loans.
Members of the Committee include representatives drawn from the following Ministries, Departments and Agencies (MDAs) are Mr. Abubakar Malami, SAN, Honourable Attorney General of the Federation and Minister of Justice, Federal Ministry of Justice as Chairman, Senator Hadi Sirika, Honourable Minister of State (Aviation), Inspector General of Police, Mr. Solomon Arase and Mr. Ibrahim Magu, Chairman, Economic and Financial Crime Commission (EFCC).
Others are the Alhaji Ahmed Idris, Accountant General of the Federation, Dr. Ibe Kachukwu, Group Managing Director Nigerian National Petroleum Corporation (NNPC), Dr. Abraham Nwankwo, Director General, Debt Management Office (DMO), Mr. Farouk Ahmed, Executive Secretary, Petroleum Products Pricing and Regulatory Agency (PPPRA) and Alhaji Ahmed Kuru, managing director, AMCON.

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Dr. Nafiu Sankara Emerges as Kano Central Senatorial Candidate Ahead of the Next Elections

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Dr. Nafiu Danladi Sankara has emerged as a leading political figure and consensus candidate for the Kano Central Senatorial District under the People’s Democratic Party (PDP) ahead of the 2027 elections. His emergence reflects a growing call for purposeful leadership, youth inclusion, and a renewed political vision for Kano and Nigeria at large.

Dr. Sankara is widely known for his contributions to community development, youth empowerment, and public engagement. A politician, philanthropist, and public affairs advocate, he has consistently supported initiatives aimed at improving opportunities for young people and strengthening grassroots participation in governance.

His political journey is not new. In the 2019 general elections, Dr. Sankara contested as an aspirant for the House of Representatives under the PDP to represent the Tarauni Federal Constituency in Kano State. His participation in the democratic process demonstrated his long-standing commitment to public service and political representation.

With a vision centered on Youth Empowerment, Innovation, Good Governance, and National Unity, Dr. Sankara is seen by supporters as part of a new generation of leaders focused on inclusive development and responsive representation. His message emphasizes the importance of accountability, opportunity creation, and citizen-centered leadership.

Supporters and party stakeholders believe his experience in community engagement and grassroots mobilization will contribute positively to legislative representation, ensuring that the concerns of ordinary citizens receive adequate attention. His growing acceptance across different groups is seen as a sign of confidence in his leadership and political aspirations.

As preparations for the 2027 elections continue, many observers view Dr. Nafiu Sankara’s political journey as part of a broader conversation about leadership renewal, youth participation, and the future direction of governance in Kano State and Nigeria.

“The Youth. The Vision. The Change. The Future is Ours.”

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Hon. Jaafaru Yakubu Declared Winner of Bali/Gassol Federal Constituency in Taraba

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Hon. Jaafaru Yakubu, Chairman of the House Committee on Nigeria-China Friendship Group, has been declared the winner of the APC primary elections for the Bali/Gassol Federal Constituency in Taraba State. His victory reflects the overwhelming support of voters across the constituency, who have entrusted him once again with the responsibility of representing their interests at the National Assembly.

Since his election into the House of Representatives, Hon. Jaafaru Yakubu has distinguished himself as a legislator of vision and purpose. His leadership of the Nigeria-China Friendship Group has been instrumental in strengthening bilateral ties, particularly in areas of trade, infrastructure, and technology. He has consistently demonstrated the ability to balance international diplomacy with grassroots development, ensuring that his constituency benefits from both global partnerships and local initiatives.

Hon. Yakubu is widely respected for his integrity, accessibility, and people-centered approach to governance. Voters describe him as approachable and transparent, qualities that have earned him trust and loyalty. His interventions in education, road construction, and youth empowerment have provided vital opportunities for rural communities in Taraba, connecting them to broader national development. His consistency in legislative duties and his reliability as a representative have further cemented his standing as a dependable voice in the House of Representatives.

His victory at the primaries is not just a political achievement but a reaffirmation of his commitment to service. Hon. Jaafaru Yakubu’s re-election bid promises continuity in championing international cooperation, local development, and legislative accountability. As Taraba looks forward to stronger representation in the National Assembly, Hon. Jaafaru Yakubu stands out as a leader who combines vision, diplomacy, and grassroots connection to deliver meaningful progress for Bali/Gassol and Nigeria at large.

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Tinubu Mega Group Mobilises 1,500, Endorses Tinubu’s Second Term Bid

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The nation’s capital, Abuja, witnessed a massive political gathering on Tuesday as thousands of supporters under the umbrella of the Tinubu Mega Group (TMG) staged what organisers described as a “National Unity Rally” in support of President Bola Ahmed Tinubu and his re election bid ahead of the 2027 presidential election.The rally, which attracted participants from across the 36 states and the Federal Capital Territory, brought together over 1,500 groups comprising professionals, civil society organisations, youth associations, religious leaders, artisans, traders, women groups, and grassroots mobilisers.At the rally, the coalition formally presented what it described as the endorsement of “20 million Nigerians” for another four years of President Tinubu’s administration, insisting that ongoing economic and structural reforms must be sustained beyond 2027.Addressing the gathering, the National Spokesperson of the Tinubu Mega Group, Tijani Ali Danjuma, said the rally represented the collective voice of Nigerians who believe in continuity, stability, and national progress.According to him, despite prevailing economic difficulties and global challenges, the Tinubu administration has demonstrated courage and direction in tackling inherited national problems.He highlighted ongoing infrastructure projects, renewed investments in local refining, economic stabilisation efforts, improved support for state governments, social intervention programmes, and reforms targeted at strengthening local governance and attracting investments.“The student loan programme has opened new opportunities for young Nigerians. Efforts are ongoing to strengthen the naira, improve food production, and reposition the economy for long term growth,” he stated.Danjuma added that the massive turnout at the rally was proof that support for the President cuts across regions, sectors, and religious affiliations.“To those spreading false narratives and attempting to create division, our answer is simple, the people have spoken. Nigerians are choosing continuity over confusion and progress over propaganda,” he declared.Also speaking at the rally on behalf of Nigerian professionals, Dr. Tabuko Kennedy said professionals across critical sectors of the economy were backing the administration because reforms require consistency and continuity to succeed.Representing doctors, lawyers, engineers, academics, entrepreneurs, creatives, artisans, and technocrats, Kennedy argued that abandoning ongoing reforms midway could negatively affect national development.He maintained that President Tinubu had shown commitment toward rebuilding the economy, strengthening infrastructure, improving revenue generation, supporting local industries, and creating opportunities for Nigerian youths.“As professionals, we understand that difficult reforms are never easy at the beginning, but we also know that abandoning reforms halfway can damage national progress,” he said.Kennedy further declared that “there is NO VACANCY in Aso Rock in 2027,” a statement that drew loud cheers from supporters at the venue.The Christian community was represented by Bishop Kola Oyedepo, who described the current phase of Nigeria’s development as a period requiring patience, sacrifice, wisdom, and collective responsibility.The cleric noted that leadership often demands difficult decisions and urged Nigerians not to allow bitterness, division, or destructive politics to derail ongoing efforts aimed at repositioning the country.According to him, reforms initiated under President Tinubu, including economic restructuring, infrastructure development, educational support through student loans, and efforts to improve local refining capacity, were necessary foundations for a stronger Nigeria.“Every wise builder must first lay a solid foundation. Nigeria today is in the process of rebuilding and restructuring its foundation for a stronger future,” the bishop stated.He urged Nigerians to continue praying for the country and its leaders while reiterating support for continuity in governance.“There is NO VACANCY in Aso Rock in 2027,” he added.Similarly, Islamic cleric Sheik Abubakar Mustapha called for patience, peace, unity, and support for national development efforts.The Imam acknowledged the economic and social challenges facing the country, but stressed that meaningful reforms require time, perseverance, and courageous leadership.He commended the administration’s focus on infrastructure, education support initiatives, governance reforms, and local refining projects aimed at strengthening national productivity.“We must not allow division, hatred, or politics of bitterness to weaken our country. Instead, we must support unity, peaceful coexistence, and responsible leadership,” he said.Mustapha also aligned with the position of the organisers, insisting that Nigerians who desire stability and sustained development understand that “there is NO VACANCY in Aso Rock in 2027.”Observers described the rally as one of the largest political mobilisation efforts witnessed in Abuja in recent months, with participants carrying banners, placards, and campaign materials bearing inscriptions such as “20 Million Nigerians Support Tinubu,” “Continuity for National Development,” and “One Voice, One Vision, One Nigeria.”The rally ended peacefully with prayers for national unity, economic recovery, and sustained democratic governance in Nigeria.

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