Tag: Corruption

Posted on

Britannia Waives the Rules: Reform UK Ltd and the Audacity of the Uncomplicatedly Delusional By Lawson Akhigbe

There is a particular kind of political confidence that is indistinguishable, to the untrained eye, from clinical detachment from reality. It is the confidence of a man who, having just won a hand at poker, concludes that the laws of probability no longer apply to him. It announces itself loudly, dresses in a flag, and mistakes the echo of its own voice for the applause of nations. Ladies and gentlemen, Reform UK Ltd has had a good week at the local elections, and the results are as instructive as they are alarming, not merely because Nigel Farage’s vehicle of nationalist ambition has won council seats, but because winning appears to have emboldened the party to say the quiet parts of its manifesto even louder, with the serene self-assurance of people who have never had to read a treaty.

Posted on

Ponzi Loans and Politicians by Lawson Akhigbe

AMCON has repeatedly noted that a small number of high-profile obligors (often 300–400 individuals/entities) account for 70–80% of its outstanding portfolio (peaking around ₦4.5–5 trillion in various reports). Many of these involve politicians or their allied companies, where debts originated from pre-AMCON bank loans (e.g., Union Bank, Skye Bank facilities) that turned non-performing due to factors like margin lending, poor governance, or economic shocks.

Posted on

Senator Debtor’s ‘Art of the Deal’: A 10-Step Guide to Evading AMCON Recoveries

Get the Loan. (This is the easy part). Preferably a large, multi-billion naira sum from a struggling bank. Use your political clout as collateral – it’s worth more than anything tangible!

Posted on

The Rules for Thee, but Nary for Me: How International “Justice” Lost the Plot by Lawson Akhigbe

For decades, we were instructed to nod politely at global summits while elites proclaimed that the rule of law is universal. Except, like a discount gym membership, universality apparently comes with fine print, blackout dates, and VIP exemptions reserved exclusively for nations backed by Western firepower.

Posted on

Overview of the Asset Management Corporation of Nigeria (AMCON) by Lawson Akhigbe

The Asset Management Corporation of Nigeria (AMCON) represents one of Nigeria’s most significant financial interventions in response to systemic banking distress. Its debt enforcement history reflects a blend of aggressive statutory powers, evolving legislative enhancements, notable operational successes, persistent challenges, and occasional perceptions of uneven application influenced by political or economic factors. Below is a thorough, chronological exploration of AMCON’s enforcement journey, including context, key mechanisms, statistics, notable cases (with nuances around the Ben Murray-Bruce/Silverbird matter), challenges, and broader implications.

Create a website or blog at WordPress.com