As Asset Management Corporation of Nigeria (AMCON) seek ways to recover its huge outstanding debt of over N5trillion, 80 per cent of which is owed by 350 individuals in the country, jurists have urged the management of AMCON to explore the opportunities offered by Alternative Dispute Resolution (ADR) centres established by the Federal High Court.

Speaking in Abuja at the weekend, jurists, including Justice I.N.Buba; Justice A.M. Liman; Justice C.M.A. Olatoregun; Justice B.F.M. Nyako; Justice Nnamdi Dimgba PhD, Dr. Chuka Agbu SAN and Mr. Olugbenga Bello among others urged AMCON to refer some of its cases to ADR as that could provide faster ways towards recovery rather than wait endlessly for the courts especially now that the corporation has over 3,000 court cases and counting with imminent sunset date fast approaching.

They made the call at the Abuja version of the 2019 Annual Seminar for External Solicitors and Asset Management Partners (AMPs) of AMCON, which ended at Sheraton Hotel, Abuja at the weekend.

Justice Buba, who chaired one of the sessions said, “Every judge is supposed to promote ADR because it is faster. ADR was set up to help the courts. If you say you don’t want ADR, then you have to be ready to waste your time in court. It is not that the courts deliberately delay your cases, but the courts are overwhelmed by the barrage of cases before them.”

Justice Nyako, who also chaired a session, while commenting on why cases are piling up in court urged AMCON lawyer to familiarize themselves with the legal procedures before appearing in court.

According to her, if a lawyer handling AMCON case does not follow procedure, the case will not take off. But to help ease off the pressure, she added that the Federal High Court is trying to establish three more ADR centres in the country for ease of dispensing justice. Again she said, “Once the ADR centres are open, I want to encourage our lawyers to refer some of these AMCON cases to the ADR centres and help decongest the courts.”

AMCON Managing Director and Chief Executive Officer, Mr. Ahmed Lawan Kuru who was represented at the annual seminar by Mr. Aminu Ismail, an Executive Director of Operations at AMCON had earlier in his welcome speech lamented the huge outstanding debt of the corporation of over N5trillion, which will eventually become a burden to the Federal Government of Nigeria if at sunset AMCON failed to recover.

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