…Warns some debtors are distorting facts to evade repayment
By Our Reporter
The Asset Management Corporation of Nigeria (AMCON) has accused certain debtors of manipulating the media to present the agency negatively, warning that such tactics could threaten Nigeria’s economic stability.
At a press conference in Lagos, AMCON’s Head of Corporate Communications, Mr. Jude Nwauzor, expressed concerns over the misrepresentation of the agency’s debt recovery efforts, particularly regarding Arik Air Limited (currently in receivership) and its founder, Sir Johnson Arumemi-Ikhide.
“These individuals have severely impacted the Nigerian economy, and the media must not allow them to rewrite the narrative,” Nwauzor stated. He emphasized the importance of collaboration between AMCON and journalists to ensure accurate reporting, warning that allowing debtors to manipulate public perception could harm national financial stability.
“Some of these debtors owe the Nigerian economy billions of naira. Rather than fulfilling their financial obligations, they are engaging in misinformation and propaganda, using the media as a means to evade accountability,” he added.
Nwauzor specifically referenced recent reports that misrepresented AMCON’s takeover of Arik Air, arguing that this intervention was necessary to prevent the collapse of one of Nigeria’s major airlines. He affirmed that the takeover was conducted in accordance with legal provisions to protect employees, passengers, and stakeholders from the repercussions of financial mismanagement.
“The truth is that Arik Air was on the brink of total collapse due to its financial challenges. Our intervention was not only in the best interest of the company but also in the interest of the larger Nigerian economy. Any conflicting narrative is an attempt to mislead the public,” Nwauzor stressed.
He urged journalists and media organizations to uphold the principles of investigative journalism by verifying facts before publication. Furthermore, he warned that if debtors continue to exploit the media to spread falsehoods, it could set a dangerous precedent that might affect future financial interventions in critical sectors.
AMCON reiterated its commitment to working within legal frameworks to recover outstanding debts, urging defaulting debtors to engage with the agency in good faith instead of resorting to media attacks.
“The focus should be on ensuring that these debts are repaid, not on distorting the facts. We call on the media to support national economic stability by ensuring objective and truthful reporting,” Nwauzor conclude