AMCON TAKES INDIAN BUSINESSWOMAN TO COURT OVER ALLEGED UNPAID LOAN

The Asset Management Corporation of Nigeria (AMCON) has dragged an Indian businesswoman before a court over an alleged unpaid loan running into several millions.

According to court documents, AMCON is seeking recovery of the debt, which it claims was granted to the defendant’s business but has remained unsettled despite repeated demands.

The agency said the action is part of its ongoing efforts to recover outstanding obligations owed to financial institutions and stabilize Nigeria’s banking sector.

Legal representatives for AMCON argued that the failure to repay the loan has contributed to financial losses and undermined creditor confidence in the credit system.

The defendant is expected to respond to the allegations as proceedings continue in court.

AMCON has consistently pursued debt recovery actions against individuals and corporate entities in line with its statutory mandate.

Observers note that such cases highlight the broader challenge of non-performing loans in the financial sector and the government’s push for stronger credit discipline.

The court is expected to fix a date for further hearing as both parties prepare their legal submissions.