The Asset Management Corporation of Nigeria (AMCON) on Monday named 105 delinquent debtors for failure to negotiate successfully with the corporation.
Ahmed Kuru, the managing director and chief executive of AMCON, had in July promised to publish the list of delinquent debtors and directors who have failed to reach or refused to reach settlement resolution with the corporation.
Mr. Kuru said after failed negotiations, AMCON would name, shame and embark on take-over of properties of delinquent debtors.
Top on the list published by AMCON on Monday is Capital Oil and Gas Industries Limited owned by Ifeanyi Ubah, with its current debt put at N115 billion.
It was followed by NICON Investments Limited owned by Jimoh Ibrahim, with N59 billion exposure; Bi-Courtney Limited owned by Wale Babalakin, with over N40 billion; Josephdam & Sons Limited owned by the Kuteyi family with N39 billion exposure; and Tinapa Business Resort of Cross River State Government with N30 billion exposure.
The name of a former minister of power, Barth Nnaji, appeared alongside others as main promoters of Geometric Power which owes N29 billion. Mr Babalakin was, again, named as the main promoter of Roygate Properties, which owes over N28 billion. Similarly, Shell Development Petroleum Company, promoted by Shell Staff, had its exposure put at N26 billion.
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 billion owed to AMCON under the names of Iorna Global Resources, Sammy Beth Interbiz Limited, Camden Resources Limited, Riverside Logistics Limited and Rainbownet Limited.
The Olofa of Offa, Gbadamosi Muftau, was also named with a debt of N12 billion under Zarm Stores Limited just as a former CEO of Intercontinental Bank, Erastus Akingbola, was named with over N10 billion exposure under the company Octopus Trust Nigeria Limited.
Also, on the list of debtors is Buruji Kashamu, a senator, who reportedly owes the corporation.
