The Asset Management Corporation of Nigeria (AMCON) has released the list of what it called delinquent debtor firms who owe it ₦906,109,840,662.99 in total.
In an advertorial which was published on Monday, AMCON said the list contained the top 105 delinquent debtors, adding that the publication was pursuant to its statutory mandate and is in compliance with the circular issued by the Central Bank of Nigeria (CBN) in April 2015.
In the publication, AMCON stated;
“This has become necessary as all avenues provided by the corporation for the debtors to propose acceptable resolution terms have failed.
“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.”
Among the alleged debtors as contained in the publication are Capital Oil & Gas Limited, whose main promoter was listed as Mr. Ifeanyi Ubah, which reportedly owes ₦115 billion; Tinapa Business Resort, which is owned by the Cross River State Government which is allegedly owing ₦36 billion and Geometric Power Limited being promoted by a former Minister of Power, Prof. Barth Nnaji, with a debt of ₦29.84 billion.
Also on the list are Shell Development Company’s Multi-purpose Cooperative Society Limited, which is allegedly indebted to the corporation to the tune of ₦26.47 billion, Platinum Capital, ₦20. 37 billion; Minaj Holdings Limited, ₦1.3 billion; Sammy Beth Interbiz Limited, ₦11 billon and Octopus Trust Nigeria Limited, ₦10.17 billion.
Others are Mobil Workers Multipurpose Cooperative Society (Eket), ₦11.5 billion; Dormalong Engineering Limited, ₦4.7 billion; Aquitane Oil and Gas Limited, ₦2.64 billion; Omega Savings and Loans, ₦2.28 billion; Bellview Airlines Limited, ₦2.25 billion and Chevron Oil Staff Multipurpose Cooperative, ₦1.59 billion.