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Juliana Taiwo-Obalonye, Abuja
President Muhammadu Buhari has assented to the Asset Management Corporation of Nigeria (Amendment) Act, 2019; Defence Intelligence Agency Civilian Pensions Board (Establishment) Act, 2019 and National Biosafety Management Agency (Amendment) Act, 2019.
Senior Special Assistant on National Assembly Matters, Ita Enang, in a statement, said the Bills were passed by the eighth National Assembly and transmitted to him for assent.
“The Three Acts have come into effect as laws of the Federal Republic of Nigeria,” Enang said.
“Asset Management Corporation of Nigeria (Amendment) Act, 2019
The Asset Management Corporation of Nigeria (Amendment) (No. 2) Act further amends the 2010 Act by increasing the powers of the Commission in enforcement of recovery of debt from persons owing legacy banks or seizure of property subject of loan obligation. In particular, it empowers AMCON to place any bank account or any other account comparable to a bank account of a debtor of an eligible financial institution under surveillance; obtain access to any computer system component, electronic or mechanical device of any debtor with a view to establishing the location of funds belonging to the debtor, and obtain information in respect of any private account together with all bank financial and commercial records of any debtor of any eligible financial institution, banking secrecy, and the protection of customer confidentiality is not a ground for the denial of the power of the Corporation under this section.
