AMCON’s N5 trillion debt: See names of top 20 debtors

 

BY KAZIE UKO

The Assets Management Corporation of Nigeria (AMCON) has released names of its top 20 debtors, barely 24 hours after Vice President Yemi Osinbajo set up a new task force to help recover the over N5 trillion owed the corporation.

AMCON’s chairman, Dr. Muiz Banire, at a meeting with the vice president at the Presidential Villa, Abuja, said the top 20 debtors owed 67% of the N5 trillion debt.

The top 20 debtors are:

1. Senator Ifeanyi Ubah’s Capital Oil and Gas Industries Limited, N115.952bn;
2. NICON Investments Limited, N59.544bn;
3. Wale Babalakin’s Bi-Courtney Limited (MMA2), N40.798bn;
4. Josepdam & Sons Limited, N39.056bn;
5. Cross Rivers Govt’s Tinapa Business Resort, N36.006bn;
6. Home Trust Savings, N30.626bn.
7. Barth Nnaji’s Geometric Power Limited, N29.844bn;
8. Wale Babalakin’s Roygate Properties Limited, N28.137bn;
9. SPDC West Multi-purpose Co-operative Society Limited, N26.475bn;
10. Anyiam Osigwe Limited, N20.533;
11. Platinum Capital, N20.379bn;
12. Flotsome Investment Limited, N20.219bn.
13. Lonestar Drilling, N20.208bn;
14. Ugoji Egbujo’s N19.577bn;
15. Chimaroke Nnamani’s Lorna Global Resources, N18.919bn;
16. Hosanna Properties Limited, N18.060bn;
17. Minajo Holdings Limited, NN17.307bn;
18. Afrijet Airlines Limited, N13.122bn;
19. Petroleum Brokers Limited, NJ13,076bn;
20. Kashamu Buruji’s Hotel De Island, Kasmal Properties, Island Autos & Nacoil, N13.016bn.

However, an analysis of the total debt owed by the top 20 debtors shows that the amount falls far short of the 67% claim by AMCON.

Based on the figures released by AMCON, the top 20 debtors are owing N600.848 billion, representing about 12% of N5 trillion.