FULL LIST: Ifeanyi Ubah, Jimoh Ibrahim… Here are AMCON’s 105 top debtors

October 24, 2018 8:23 am

The late Ifeanyi Ubah

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 Advertisement 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.