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Senate passes amended AMCON bill, empowers agency to seize debtors’ assets
The Senate Wednesday passed the Asset Management Corporation of Nigeria Amendment bill after considering the report of its Committee on Banking, Insurance, and Other Financial Institutions. The amendment bill passed by the upper chamber empowers the Assets Management Corporation of Nigeria to, among others, take possession, manage or sell all properties traced to debtors, whether or not such assets or property is used as security/collateral for obtaining the loan in particular. It also empowers the corporation to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters. Presenting the report, Chairman of the Committee, Senator Uba Sani (APC, Kaduna Central) said the Committee engaged with stakeholders such as AMCON, Federal Ministry of Finance, ...
U.S. Senate confirms Wally Adeyemo as deputy treasury secretary
The U.S. Senate has confirmed Adewale Wally Adeyemo as Deputy Secretary of the Treasury, making him the first Nigerian-American to hold the powerful job. Adeyemo, 39, has struck a hardline tone on China, vowing to fight what he called Beijing’s “unfair economic practices” and hold China accountable to international rules. He is expected to play a key role in shaping U.S. economic policy on issues ranging from financial regulation to relief for everyday Americans and U.S. sanctions on foreign governments. A former senior adviser at asset manager BlackRock Inc and the child of Nigerian immigrants, Adeyemo served as a top national security and economic adviser to Democratic former President Barack Obama and held senior jobs at the Treasury. The Senate on Thursday confirmed Adeyemo on a voice ...
