By Musa Adamu
The interaction between the Asset Management Company of Nigeria (AMCON) and Justices of the Court of Appeal is aimed at apprising them of the enormous powers of AMCON and expediency of its cases.
Speaking at the interaction with the theme: “AMCON Regime: Paradigm Shift in Debt Recovery,” the Director General, Legal Academy, Dr. Abba Fatihu, said due to the limited lifespan of AMCON and the antics of Litigants who had resorted to delay tactics, it had become imperative to apprise both the existing and in coming Justices of Court of Appeal on the expediency of its cases before them.
He said like other stakeholders of AMCON such as the Parliament, external Lawyers, and Security agencies, AMCON had realised that due to its “strange powers” it needed to engage the Justices to warn them ahead of time.
Dr Fatihu, who is also the President, ABBA Group, further revealed that the interaction was aimed at sensitizing the Justices on the peculiar framework of the AMCON legislation which was based on dispatch.
He expressed optimism that after the interaction there would be more positive and proactive judicial activism in relation to AMCON cases.
In her welcome address, President of Court of Appeal, Hon. Justice Zainab Bulkachuwa, described the interaction as timely, believing that it would enhace the Justices compprehesnion of the AMCON Act.
She said it would equip the Justices with the capacity to competently discharge their Constitutional duties in relation to AMCON cases.
In his goodwill message, former Chief Judge of the Federal High Court and Grand Patron, Legal Academy, Hon. Justice Ibrahim Auta, described AMCON Act as extremely complex whose goals can only be accomplished if the entire hierarchy of Bench appreciated fundamental underpinnings of its regime.
He said it was against this backdrop, he ensured that an exclusive Practice Directions was prescribed for AMCON in 2013, to ensure smooth implementation and operation of the AMCON mandate in the Federal High Court.
The Managing Director and CEO of AMCON, Ahmed Kuru, said his agency had always seen Judiciary as AMCON most crucial stakeholder, saying it was the judiciary that holds the power to breathe life into AMCON powers.
He revealed that more than 70% of AMCON debt purchase was mired in one form of litigation or the other, with more than 3,000 cases pending.