IN LAGOS: Babalakin, Nnamani, Kashamu, others on AMCON’s top 20 debtors’ list

THE Assets Management Corporation of Nigeria, AMCON, yesterday, released names of its top 20 debtors, barely 24 hours after Vice President Yemi Osinbajo set up a new task force to recover the over N5trillion owed the agency.

At the meeting held at the Presidential Villa in Abuja, AMCON’s chairman, Muiz Banire, said the top 20 debtors owed 67% of the N5 trillion debt.

The debtors include Senator Ifeanyi Ubah’s Capital Oil and Gas Industries Limited, N115.952bn; NICON Investments Limited, N59.544bn; Dr. Wale Babalakin’s Bi-Courtney Limited (MMA2), N40.798bn; Josepdam & Sons Limited, N39.056bn; Cross Rivers Govt’s Tinapa Business Resort, N36.006bn; and Home Trust Savings, N30.626bn. Others are Prof. Barth nnaji’s Geometric Power Limited, N29.844bn; Wale Babalakin’s Roygate Properties Limited, N28.137bn; SPDC West Multi-purpose Co-operative Society Limited, N26.475bn; Anyiam Osigwe Limited, N20.533; Platinum Capital, N20.379bn; and Flotsome Investment Limited, N20.219bn.

Also on the list were Lonestar Drilling, N20.208bn; Ugoji Egbujo’s N19.577bn; Chimaroke Nnamani’s Lorna Global Resources, N18.919bn; Hosanna Properties Limited, N18.060bn; Minajo Holdings Limited, NN17.307bn; Afrijet Airlines Limited, N13.122bn; Petroleum Brokers Limited, NJ13,076bn; and Kashamu Buruji’s Hotel De Island Kasmal Properties, Island Autos & Nacoil, N13.016bn.