Reporting News and opinions
The theory behind all of it, gas, telecoms, water, rail, was called popular capitalism, and it rested on a wager: that if enough ordinary Britons held shares directly, they would develop a stake, literal and psychological, in the fiscal health of the nation. Capitalism would stop being something done to people and start being something done by them.
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.
In a standard DPA regime, a company that self-reports and cooperates can avoid the "corporate death penalty" of a criminal conviction. In Nigeria, we are currently forced to rely on the Administration of Criminal Justice Act (ACJA) 2015. While the ACJA provides for Plea Bargaining, it is a fundamentally different animal from a DPA:
The Rise And Reign Of The Godfather — Bola Ahmed Tinubu
• Says shortfalls need urgent reconsideration to attain stated objectives of tax reform •Seeks action on controlled foreign companies, taxation of non-resident persons, imposition of tax, deductions allowed, others •Calls for exclusion of withholding tax on insurance premiums paid to non-residents Global advisory services firm, KPMG has exposed gaps, errors, omissions, and inconsistencies in the …
