Tag: fraud

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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.

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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!

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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.

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Abacha-Era Corruption: A Deep Dive into Nigeria’s Most Notorious Kleptocracy (1993–1998) by Lawson Akhigbe

This was enabled by authoritarian control: no independent legislature or judiciary, weak oversight, and a patronage network treating public coffers as extensions of personal or regime power. International complicity—lax due diligence by banks—facilitated laundering through U.S. institutions and bond deals.

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Human Rights Violations Investigation Commission (Oputa Panel)

The Human Rights Violations Investigation Commission, popularly known as the Oputa Panel, remains one of the most significant yet controversial attempts at transitional justice in Nigeria's history.

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