Managing Director of the Asset Management Corporation of Nigeria, AMCON, Gbenga Alade, said that the agency engaged foreign tracers to help locate hidden assets held by debtors.

He made this known at an interactive session with media executives in Lagos on Thursday.

Alade said that obligors and debtors of the corporation had damaged the Nigerian economy because they never intended to repay the loans they borrowed from various banks.

“Dealing with AMCON’s recalcitrant debtors is not easy, but dealing with such debtors who are in government, holding very high positions across different decision-making portfolios in governance in the country, is one of the most challenging tasks that I have ever faced in my career.

“We have also commissioned some foreign asset tracers who will help us locate where some of these obligors have hidden their assets across the globe,” he said.

We’ve engaged foreign tracers to locate hidden assets of debtors — AMCON MD Alade