"105 People Owe 903 Billion" AMCON As Agency Releases List Of Debtors

The Asset Management Corporation of Nigeria (AMCON) has fulfilled the promise it made to name and shame some very important persons in the country owing the corporation huge amount of money worth over N1 trillion.

According to a report by Leadership Newspaper, top on the list are Mr Ifeanyi Ubah, Wale Babalakin, Jimoh Ibrahim and others.

According to the news journal, the money owed by the trio and 102 other individuals are over N900 billion.

“Capital Oil and Gas Industries Limited owned by Ifeanyi Ubah, NICON Investments Limited owned by Jimoh Ibrahim, Bi-Courtney Limited owned by Wale Babalakin, Josephdam & Sons Limited owned by the Kuteyi family and Tinapa Business Resort of Cross River State Government are the biggest delinquent debtors according to the list,” Leadership said.

According to the list, Capital Oil and Gas owned by Ifeanyi Ubah is indebted to the tune of N115.952 billion, while Wale Babalakin whose name is on the ownership of Bi-Courtney limited, Roygate Properties Limited owed N69.642 billion under the two companies.

Former governor of Enugu State and Peoples Democratic Party Enugu East Senatorial Candidate, Chimaroke Nnamani also appeared on the list with a debt of N42.49 billion owed to AMCON under the names of Iorna Global Resources, Sammy Beth Interbiz Limited, Camden Resources Limited, Riverside Logistics Limited and Rainbownet Limited.

Also on the list of debtors is Senator Buruji Kashamu who owes the corporation N13.015 billion. Jailed former governor of Plateau State, Joshua Dariye who had purchased All Progressive Congress senatorial nomination form but failed to secure a ticket was also on the list.

The former governor who is currently serving a 14 year jail term for corruption charges currently owes AMCON N6.823 billion which he has yet to come to reach a payment agreement. Another prominent name on the list is former Minister of Power, Professor Bart Nnaji, whose name appeared as a director of Geometric Power Limited which is indebted to the tune of N29.844 billion.

Managing Director of AMCON, Mr Ahmed Kuru, earlier in the year had mentioned plans of the corporation to publish the list of delinquent debtors and directors where applicable, who have failed to reach or refused to reach settlement resolution with the corporation.

Mr Kuru said the corporation was set for a new stage that would not involve negotiation but name and shame as well as take-over of properties of delinquent debtors that have refused to meet it halfway on the negotiation table.

According to him, going forward, in cases where the registered assets of a company that is indebted to the corporation was not enough to clear their obligation, AMCON would go after the directors and their private companies.

He said with over N5.4 trillion debt owed the corporation, AMCON had become tired of obligors (debtors), coming to its office and telling lies about wanting to embark on a staggered payment which they ended up never complying.