The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtor companies.
According to the corporation, the “delinquent debtors”, whose names were released owed a total of N906 billion.
“This has become necessary as all avenues provided by the corporation for the debtors to propose acceptable resolution terms have failed,” it said in an advertorial released on Monday.
“Nevertheless, the corporation is still open to amicable resolution of these debts within a reasonable time, failing which it shall continue to exercise all powers as provided by law to recover the debts.”
In July, Ahmed Kuru, AMCON’s executive director, had said the corporation would publish the names of debtors that have failed to reach a settlement or repayment resolution.
Ifeanyi Ubah’s Capital Oil tops the list with a debt of N115 billion.
| 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 Kuteyi, Saheed Kuteyi, Ganiyu Kuteyi | 39,056,674,951.55 |
| 5 | Tinapa Business Resort | Cross River State Government | 36,006,319,844.68 |
| 6 | Home Trust Savings | Chukwukadibia Ajaegbu, Funmu Ademosun | 30,626,243,344.71 |
| 7 | Geometric Power Limited | Prof. Barth Nnaji, Nnaji Agatha, Obibuaru Eluma, Anike Paul, Nwobodo Benjamin Chukwuemeka, Dozie Chijioke, Akpe Austine, Nnaji Okechukwu, UBA Trustees Limited, Kunoch Limited, Diamond Capital & Financial Market Limited | 29,844,500,896.77 |
| 8 | Roygate Properties Limited | Wale Babalakin (SAN), Agumadu John, Alarape 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 Richard, Francis Atuche | 20,378,820,507.19 |
| 12 | Flotsome Investment Limited | Oboden Ibru, Tejiro Ibru | 20,218,703,550.96 |
| 13 | Lonestar Drilling | Late Chief Idisi, Margaret 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 Chika, Obi Ike C. | 18,059,895,396.27 |
| 17 | Minaj Holdings Limited | Ajegbo Mike Nnayeluchudihu, Luke Chidi Chudihuilogu, Miller Gregrey, Ethridge Kyle, Attueyi Joe, Oladele Afolabi, Okpere Kisito, Kokoricha Paul | 17,306,900,257.66 |
| 18 | Afrijet Airlines Limited | Inoelle Willam Barry, Carr 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 |
| 21 | Zarm Stores Limited | Gbadamosi Muftau, The Olofa of Offa | 12,410,560,226.18 |
| 22 | Tak Continental Limited | Thomas Akoh Etuh | 11,585,755,562.89 |
| 23 | Netlink Digital Television | Fashewe Oyewole, Varderpuije Ahmed | 11,550,782,130.79 |
| 24 | Mobil Workers (EKET) Multipurpose Cooperative Society | Mobil Workers, represented by Okeke Eze (legal practitioner) | 11,504,121,133.06 |
| 25 | DWC Drilling Limited | Etheridge Kyle, John Ayeke | 11,363,388,024.05 |
| 26 | Sammy Beth Interbiz Limited | H.E. Chimaroke Nnamani | 11,017,336,899.00 |
| 27 | Ferdinand Oil Mills | Chief Ferdinand Anyaoha Anghara | 10,855,175,005.53 |
| 28 | Octopus Trust Nigeria Limited | Erastus Akingbola | 10,175,717,163.07 |
| 29 | Avian Spec | Femi James, Funmi Ayorinde | 7,619,760.034.02 |
| 30 | Brooke Investments Limited | Chief S.I. Adegbite, Adegbite Adewale Michael, Adegbite Ademola Olumide, Sofela Michael Olufemi | 77.21 |
| 31 | Resource Intermediaries Limited | Soji Oyawoye (MD/CEO), Ebun Bamigboye, Weyinmi Jemide, Ido Ohiwere | 7,282,308,754.08 |
| 32 | Jummai Mahmud | Senator Joshua Dariye | 6,823,110,429.13 |
| 33 | Genprogetti Nigeria Limited | Nnamdi O. Okoye, Charles Umeadi | 6,637,593,140.34 |
| 34 | Ray Gold Silver Plus Limited | Oboden Ibru, Tejiro Ibru | 6,392,813,914.61 |
| 35 | Camden Resources Limited | H.E. Chimaroke Nnamani | 5,875,022,498.73 |
| 36 | Riverside Logistics Limited | H.E. Chimaroke Nnamani | 5,874,161,281.46 |
| 37 | Robo Michael Limited | Kassabali Samir Ibrahim, Egirani Arobo, Egirani Olotu | 5,837,512,139.51 |
| 38 | Lexcap Partners | Albert Okumagba, Chibundu Edozie | 5,696,111,908.02 |
| 39 | Osigwe Foods & Agro Industries | Moh’d Anselm Kayode, Raji A. Usman | 5,648,190,385.41 |
| 40 | Rangk Limited | Kanu Godwin Ndubuisi | 5,390,589,104.93 |
| 41 | Afro-Arab Investment Limited | Baba-Ahmed Moufitah, Baba-Ahmed Muna Beitah | 5,340,204,984.21 |
| 42 | Dormanlong Engineering Limited | Austen Peters | 4,700,000,000.00 |
| 43 | Abasa Nigeria Enterprises Limited NPK1 A | Ezuma Innocent Ozoemena | 4,666,999,131.41 |
| 44 | Lawal Obelawo Plastics Industries Limited (LOPIN) | Prince Lawal Olaosebikan Yesufu, Ramota Lawal | 4,361,717,794.63 |
| 45 | Eres N V (Nig.) Limited | Chief Pius Akinyelure | 4,171,546,113.09 |
| 46 | Al-Kahf Motorcycle Company Limited | Shehu Badamasi, Safiya M. Badamasi | 4,067,369,214.72 |
| 47 | Madunka Motorcycle Company Limited | Abdullahi A. Haido, Zainab A. Haido | 3,561,115,889.09 |
| 48 | Terminal Zero | Obadina Gbenga, Niyi Oyedele | 3,318,675,426.60 |
| 49 | Ocean Deep Properties Limited | Ray Nduka J. Okpu, Ray Ufoma Okpu | 3,075,367,362.75 |
| 50 | Claremount Management Limited | Okobi Paul Uche, Akpan Patrick | 2,944,490,078,53 |
| 51 | Ena-Bell Limited | Ojo Osamuede Belle, Ojo Osamuede Enahoro | 2,910,142,971.76 |
| 52 | Omega Sunshine Ventures Limited | Segun Agbetuyi, Tolulope O. Fadahunsi | 2,763,085,587.14 |
| 53 | Tuns Farm Nigeria Limited | Olatunde Adekunle Badmus, Joseph Zopy | 2,738,973,788.06 |
| 54 | Nakem Oil & Gas Company Limited | Alebe Nathaniel Uzezi, Alebe O. Gift | 2,718,933,557.79 |
| 55 | Hyacinnth U.F. Enuha | Hyacinth Uzu-Fela Enuha | 2,710,078,325.77 |
| 56 | Ray Okpu | Ray Okpu | 2,673,346,469.66 |
| 57 | Bao Yao Future Lex | Garba Idris Abubakar, Yaozhang Shen | 2,669,859,056.59 |
| 58 | Aquitane Oil and Gas Limited | Ikechukwu Okolo | 2,640,490,132.20 |
| 59 | Waziri B. Mustapha | Alhaji Waziri B. Mustapha | 2,612,458,766.09 |
| 60 | Riggs Securities Limited | Yomi Tokosi, Tokosi Tokumbo, Frederick Fasheun, Ralph Obiha, Awosika Kola | 2,601,085,572.34 |
| 61 | Likam Nigeria Limited | Alhaji Ibrahim Hamza, Yashuwah Hamza | 2,525,755,239.96 |
| 62 | Safe Nigeria Limited | Itohan Ogieva-Omosigho, Osa Ogieva-Omosigho | 2,369,063,554.93 |
| 63 | Woksons International Limited | Chief William Oki, Oke E. Cynthia | 2,326,577,517.14 |
| 64 | Travaux Investments Limited | Lambo Jumoke, Ogutuga Kemi, Sheri William, Folarin Rotimi Williams | 2,303,470,835.43 |
| 65 | Omega Savings and Loans | Agbetuyi Segun, Adeniyi A. Ademuyiwa | 2,283,749,521.09 |
| 66 | Bellview Airlines Limited | Kayode Odukoya, AVM Emmanuel Ombu (Rtd) | 2,258,232,021.87 |
| 67 | Sage Int. Nig. Limited | Atikoro Uyovbukerhi, Maureen Uyovbukerhi | 2,241,719,528.00 |
| 68 | Van Vliet Trucks Limited | Nol Van Vliet, Adetunmbi Dayo, Kome Agodo | 2,136,216,694.00 |
| 69 | Baba Haruna Ibrahim | Baba Hruna Ibrahim | 2,076,544,891.02 |
| 70 | Abbey Lincoln Limited | Awoleye T. Abisodun, Francis T. Abisodun | 2,065,489,600.50 |
| 71 | Shell Staff West | Shell Staff, represented by Ikponmwosa Ogiemuda | 2,004,956,109.70 |
| 72 | U.L.O. Consult, Ogbeogonogo | Chief Uche Luke Okpuno | 1,984,819,888.82 |
| 73 | Variations Industries Limited | Nwazulu Prince Dennis, Nwazulu Protus | 1,969,012,064.04 |
| 74 | Tuns Holdings Limited | Olatunde Adekunle Badmus, Joseph Zopy | 1,965,039,873.11 |
| 75 | Shelter Development | Bayero Usman Ja’afaru, Ibrahim Isa Wada | 1,875,156,385.12 |
| 76 | Lynq Communications | Joe Obiora Udeagbala, Sylvia Udeagbala | 1,847,974,990.21 |
| 77 | Petlib Envi-Chem Ser | Ibiam Eleanya, Ekwo Eteakamba Edem | 1,706,415,936,54 |
| 78 | Amsalco Ind. Limited | Aminu Saleh, Bashir Aminu Saleh | 1,646,184,931.54 |
| 79 | Aminu Saleh Alhaji | Aminu Saleh Alhaji | 1,630,812,798.76 |
| 80 | Chevron Oil Staff Multipurpose Cooperative | Chevron Staff | 1,595,966,334.11 |
| 81 | Micro Products Int’l Nig. Limited | Chris Anugwolu | 1,568,839,810.06 |
| 82 | The Franklin Hotel & Suites | Frank Omosigo | 1,566,984,396.77 |
| 83 | Titanium Oil and Energy Limited | Acholonu Patrick, Ekezie Chief Ralph | 1,564,295,090.70 |
| 84 | Alcomp Computers Limited | Engineer Emeka Vitus Ezenwanne, Gloria Uzoamaka Ezenwanne | 1,559,711,000.55 |
| 85 | Tina Stores Limited | Matthew Nmezi, Clementina Nmezi | 1,558,068,328.38 |
| 86 | Shemofeyo Ventures Limited | Sheba A. Acholonu Patrick, Modupe Olorunfemi | 1,549,586,200.57 |
| 87 | Westoil Petroleum Services Limited | Bidemi H. Fahn, Hamdalat Ajayi, Omotayo Fahn | 1,540,787,598.44 |
| 88 | Ohzed Oil and Gas Company Limited | Stella O. Dike, Engr Matthew A. Dike | 1,516,937,763.45 |
| 89 | KDC Construction Limited | Alh Waziri B. Mustapha | 1,480,572,356.42 |
| 90 | Deep Sea Oil Gas Limited | Itelima Steve Yeowuma, Itelima Patricia Yeowuma | 1,386,834,554.36 |
| 91 | Ascot Fabricators and Constr. Limited | Henry E. Imasekha, Joey Chuma Obue | 1,374,274,319.42 |
| 92 | I.C.M.G. Limited | Mike Osime | 1,339,507,291.77 |
| 93 | Huf Engineering Nigeria Limited | Enuha Hyacinth Uzu Fela, Enuha Carol | 1,288,402,095.13 |
| 94 | Integral Petrochemicals Limited | Oludare O. Olagok, Adeyemi Y. Olagoke | 1,269,386,433.60 |
| 95 | Unicorn Place Leisure Services Limited | Ike Nwabuoku | 1,256,178,425.11 |
| 96 | Ibika Investment & Property Limited | Fashina Kofoworola Olakunle, Fashina Mabayomije Omololu | 1,230,763,959.94 |
| 97 | Assorted Foods & Beverages | Ifabiyi Ademola, Ifabiyi Eyitope, Ifabiyi Toyin | 1,185,194,335.36 |
| 98 | Al-Fil Petroleum Company Limited | Alao IdrisAlao Abdullatif | 1,151,788,405.05 |
| 99 | Primeview Investment and Property | Gabriel Orene, Esule George | 1,119,804,330.77 |
| 100 | Merepainti Nigeria Limited/BPT Equipment | Engr Mohammed Nura Khalil | 987,172,183.55 |
| 101 | Rainbownet Limited | H.E. Chimaroke Nnamani | 804,985,922.59 |
| 102 | Paveblocks Nigeria Limited | Alh Waziri B. Mustapha | 633,128,165.50 |
| 103 | Honourable Adetunji Adeniyi | Honourable Adetunji Adeniyi | 491,220,414.05 |
| 104 | Engr. Sarki Labaran | Engr. Sarki Labaran | 471,402,281.70 |
| 105 | Senator Usman Bayero Nafada | Senator Usman Bayero Nafada | 409,502,652.84 |
In a statement released through his lawyer Olawale Akoni, Babalakin said it is libellous for AMCON to publish his name amongst its debtors.
Akoni said a federal high court in Abuja, on April 5, 2012, had ruled that whatever debt was outstanding to any federal agency by Bi-Courtney and companies related to it should be deducted from the N132 billion that the federal government owes Bi-Courtney.
