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President Muhammadu Buhari has assented to the Asset Management Corporation of Nigeria (Amendment) Act, 2019.
Also signed into law yesterday were the Defence Intelligence Agency Civilian Pensions Board (Establishment) Act, 2019 and the National Biosafety Management Agency (Amendment) Act, 2019.
His Senior Special Assistant on National Assembly Matters (Senate), Ita Enang in a statement in Abuja, said the new law increases AMCON’s powers in the enforcement of recovery of debts from persons owing legacy banks or seizure of property that is subject of loan obligation.
In particular, it empowers the commission to place any bank account or any other account comparable to a bank account of a debtor of an eligible financial institution under surveillance.
