ASSET MANAGEMENT RELEASES 105 NAMES OF DEBTORS, JAILED GOVERNOR, TRADITIONAL RULER, KASHAMU INCLUSIVE
However, other notable on the list published by the corporation include; Capital Oil and Gas Industries Limited owned by Ifeanyi Ubah, with its current exposure put at N115 billion, NICON Investments Limited owned by Jimoh Ibrahim, with N59 billion exposure.
Others are; 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.
Penpushing also reports that, name of a former Minister of Power, Barth Nnaji, was inclusive alongside others as main promoters of Geometric Power which owes N29 billion, while Babalakin, once again, was named as the main promoter of Roygate Properties, which owes over N28 billion.
In the same vein, Shell Development Petroleum Company, promoted by Shell Staff, had its exposure put at N26 billion, while former Governor of Enugu State and Peoples Democratic Party (PDP) 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.
Penpushing also gathered that, a royal father, Gbadamosi Muftau,Olofa of Offa was also named with a debt of N12 billion under Zarm Stores Limited while a former Chief Executive Officer(CEO) of Intercontinental Bank, Erastus Akingbola, was named with over N10 billion exposure under the company Octopus Trust Nigeria Limited.
Similarly, Buruji Kashamu, is reportedly owing N13.015 billion, while Joshua Dariye, is said to be owing N6.8 billion, and Senator Usman Nafada, a Governorship Candidate under the platform of Peoples Democratic Party(PDP) in Gombe State is owing over N400 million.
Penpushing reports that, Asset Management Corporation of Nigeria (AMCON) in its release explained that it published the names pursuant to its statutory mandate and in compliance with a Central Bank of Nigeria(CBN)_ directive, having exhausted all avenues of ensuring that the debtors propose acceptable resolution terms.
The management however, said, “nevertheless, the Corporation is still open to amicable resolution of these debt within a reasonable time, failing which it shall continue to exercise all powers as provided by law to recover the debts,” .
