FULL LIST: Ifeanyi Ubah, Jimoh Ibrahim, Kashamu… 20 people holding AMCON’s biggest debts
Vice President Yemi Osinbajo, on Tuesday, set up a task force with a mandate to devise a strategy to recover the N5 trillion owed to the Assets Management Corporation of Nigeria (AMCON).
The agencies tasked to go after the debtors are Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and the ministry of justice.
At the meeting that held at the Presidential Villa in Abuja, Muiz Banire, AMCON’s chairman, said the top 20 debtors owe 67% of the N5 trillion debt.
According to a list released by the corporation in October, here are AMCON’s top 20 debtors.
| S/N | Obligor Name | Main Promoter(s) | Current Exposure |
| 1 | Capital Oil & Gas Industries Limited | Ifeanyi Ubah | 115,952,152,265.92 |
| 2 | NICON Investments Limited | Jimoh Ibrahim | 59,544,633,980.31 |
| 3 | Bi-Courtney Limited (MMA2) | Wale Babalakin (SAN) | 40,798,422,374.02 |
| 4 | Josepdam & Sons Limited | Late Mrs. Josephine Damilola KuteyiSaheed KuteyiGaniyu Kuteyi | 39,056,674,951.55 |
| 5 | Tinapa Business Resort | Cross River State Government | 36,006,319,844.68 |
| 6 | Home Trust Savings | Chukwukadibia AjaegbuFunmu Ademosun | 30,626,243,344.71 |
| 7 | Geometric Power Limited | Prof. Barth NnajiNnaji AgathaObibuaru Eluma
Anike Paul Nwobodo Benjamin Chukwuemeka Advertisement Dozie Chijioke Akpe Austine Nnaji Okechukwu UBA Trustees Limited Advertisement Kunoch Limited Diamond Capital & Financial Market Limited |
29,844,500,896.77 |
| 8 | Roygate Properties Limited | Wale Babalakin (SAN)Agumadu JohnAlarape Olabode
Okhaleke Ndudi |
28,137,176,532.32 |
| 9 | Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC) | Shell Staff, represented by Ikponmwosa Ogiemuda | 26,474,541,188.17 |
| 10 | Anyiam Osigwe Limited | Anyiam-Osigwe Dorothy Chinyere | 20,523,322,350.29 |
| 11 | Platinum Capital | Obire RichardFrancis Atuche | 20,378,820,507.19 |
| 12 | Flotsome Investment Limited | Oboden IbruTejiro Ibru | 20,218,703,550.96 |
| 13 | Lonestar Drilling | Late Chief IdisiMargaret Idisi | 20,207,979,803.22 |
| 14 | Petrologistics Limited | Ugoji Egbujo | 19,576,962,565.35 |
| 15 | Lorna Global Resources | H.E. Chimaroke Nnamami | 18,919,109,352.85 |
| 16 | Hosanna Properties Limited | Anionye ChikaObi Ike C. | 18,059,895,396.27 |
| 17 | Minaj Holdings Limited | Ajegbo Mike NnayeluchudihuLuke Chidi ChudihuiloguMiller Gregrey
Ethridge Kyle Advertisement Attueyi Joe Oladele Afolabi Advertisement Okpere Kisito Kokoricha Paul |
17,306,900,257.66 |
| 18 | Afrijet Airlines Limited | Inoelle Willam BarryCarr Collin | 13,122,022,439.57 |
| 19 | Petroleum Brokers Limited | Wilcox Awopuolagha | 13,076,314,937.26 |
| 20 | Hotel De Island; Kasmal Properties; Island Autos & Nacoil | Kashamu Prince Buruji | 13,015,595,907.67 |
Note: There might be a slight difference to this list because Ahmed Kuru, AMCON’s executive director, says the corporation spent almost N1 trillion rescuing the now-defunct Skye Bank.
I am still wondering what they are doing with money. The more you have the more you want more. Odd world.
Nigeria is a failed country by allowing a very few people to hold the Country to economic ransom. These monies will not be paid unless their assets are seized and disposed off,they will do everything with our money to circumvent any forms of recovery strategy. Put them behind bars.
1. Published figures are highly corrupted and inflated figures. They are not a representative of facts and true positions of actual debt burden.
2. UBA secretly sold “My debt” to AMCON and collected N5 million in a transaction that I had zero debt. In fact UBA was to balance me N160k in that transaction. For years we have been wasting time in court on this issue.
3. I know about No. 9 in the list. UBA granted N10 billion naira loan to Shell cooperative. Only N7 billion got to cooperative account and the cooperative has been paying interests and capital based on N7 billion but they came chasing the coop for N10 billion loan.
How can N7b that is serviced every month suddenly become N26 billion that AMCON bought from UBA?
What happened is that AMCON became opportunity for some bank executives and AMCON executives to make some quick money. So, without the knowledge or agreement of the debtors, banks secretly cooked up the debts figures and use it to collect funds from AMCON, then we don’t know what happened to the spoils of their transactions.
AMCON secretly went to our “usual” court and obtained judgment debt against the debtors and start to harass some of them for repayments.
The publication can make meanings to many who don’t know the details, but to me, it means nothing but an attempt to rob people and businesses. Is it morally and legally proper for AMCON to recover debts that never existed in the first instance?
I am still wondering what they are doing with the money. The more you have the more you want more. Unbelievable happenings.