Monday, 22 August 2016

10 ‘big boys’ hold Nigerian economy to ransom

The Guardian learnt that at least 10 of such individuals, referred to as the “big boys”, are collectively owing the government about N1 trillion, which is about 17 per cent of the N6 trillion 2016 national budget.

court processes could take up to 10 years, as debtors are willing to go to any length, including getting to the Supreme Court, in delaying suits filed against them. “Obligors in court just want to buy time to continue to live with their lifestyles, which is more important to them than paying up their debts
In getting the “big boys” to pay their debts, the boss said: “It is not easy because they have perfected the art of going to court. They are scared of fulfilling their responsibilities; they are the ones that can easily personalise the issues and official function of debt recovery; they believe that people must have a motive for doing what they do. Clearly, if you’re not listening to what they want, you are opposing them. So it has not been easy. But I can tell you also that we are determined, and the government also is very determined that these monies have to be recovered even if it has to lead to an amendment of the AMCON Act.”


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