L-R Jimoh Ibrahim, Wale Babalakin and Ifeanyi Ubah
L-R Jimoh Ibrahim, Wale Babalakin and Ifeanyi Ubah
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AMCON Name and Shame 105 Nigerian Debtors

Itohan Ferguson

The Asset Management Corporation of Nigeria (AMCON) recently released the current list of defaultant debtors.

According to AMCON these 105 listed companies of prominent individuals were currently owing the total sum of N906.109 billion and have failed to meet it at the negotiation table.

The list exposed several prominent Nigerians currently indebted to AMCON.

According to the list, Capital Oil and Gas Industry owned by Igbo oil mogul, Ifeanyi Ubah owes the sum of N115.952 Billion. While Bi-Courtney and Roygate Properties Limited owned by Yoruba businessman, Wale Babalakin owes N69.642 billion.

NICON Investments Limited owned by Yoruba capitalist, Jimoh Ibrahim; the Kuteyi Family company, Josephdam & Sons Limited were on the debtors’ list.

Prominent Political figures in the list are, Senator Buruji Kashamu who owes N13.015 billion; Former Minister of Power, Professor Bart Nnaji who is a director of Geometric Power Limited owes N29.844 billion.

Imprisoned Former Governor of Plateau State Joseph Dariye, who is serving a 14-year jail term for charges of corruption owes N6.823 billion.

Another prominent political figure on the list is Former governor of Enugu State. And the Peoples Democratic Party Enugu East Senatorial Candidate, Chimaroke Nnamani.

Nnamani owes N42.49 billion, under the names of Iorna Global Resources, Sammy Beth Interbiz Limited, Camden Resources Limited, Riverside Logistics Limited and Rainbownet Limited

Furthermore, the Corporation fingered Tinapa Business Resort of Cross River State Government as its biggest debtor.

The Managing director of AMCON, Ahmed Kuru said the corporation will henceforth not negotiate with delinquent debtors who have not reached a settlement resolution with the corporation.

Rather it will name and shame debtors, while also confiscating their properties.

Furthermore, Kuru said that when the registered assets of an indebted company are not enough to offset outstanding debts, it will go after the directors and their private companies.

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