Nigeria has a new Asset Management Corporation of Nigeria (Amendment) Act, 2019 (AMCON Act) as the President of the Federal Republic of Nigeria signed it into law on 7th August 2019.
The AMCON Act is a measure taken by the government to recover the debt owed to the Asset Management Corporation of Nigeria (Corporation), which is currently set at over N 5,000,000,000,000.00 (Five Trillion Naira).