The Asset Management Corporation of Nigeria (AMCON) has again released the list of some delinquent debtors of the corporation who they say have not just remained recalcitrant but have failed to meet their obligations. Surprisingly, the list, which contains 105 names of individuals and institutions owe AMCON a total of N906.109 billion.
Top on the list is Capital Oil and Gas Industries Limited promoted by Ifeanyi Ubah; NICON Investments Limited owned by Jimoh Ibrahim; Bi-Courtney Limited owned by Wale Babalakin, Josephdam & Sons Limited owned by the Kuteyi family and Tinapa Business Resort of Cross River State Government are the biggest delinquent debtors according to the list released by AMCON at the weekend.
It would be recalled that the Managing Director/Chief Executive Officer of AMCON, Mr. Ahmed Lawan Kuru, had earlier in the year said that AMCON will publish the list of its obligors. The corporation also placed a paid advert earlier in the year to call on all debtors of AMCON to pay up failure of which AMCON will have no other option than to publish their names in the dailies. Kuru had also threatened that the corporation is set for a new stage that would not involve much of negotiation but name and shame as well as take-over of properties of delinquent debtors that have refused to meet it halfway on the negotiation table.
The AMCON boss stated that going forward, in cases where the registered assets of a company that is indebted to the corporation was not enough to clear their obligation, AMCON would go after the directors and their private companies. He said with over N5.4 trillion debt owed the corporation, AMCON had become tired of obligors, coming to its office and telling lies about wanting to embark on a staggered payment, which they ended up never complying.
A breakdown of the latest AMCON list of delinquent debtors showed that Capital Oil and Gas owned by Ifeanyi Ubah is indebted to the tune of N115.952 billion, while Wale Babalakin of Bi-Courtney limited, Roygate Properties Limited owed N69.642 billion under the two companies. Another surprise on the list is the former governor of Enugu State and Peoples Democratic Party Enugu East Senatorial Candidate, Chimaroke Nnamani with a debt of N42.49 billion owed to AMCON under the names of Iorna Global Resources, Sammy Beth Interbiz Limited, Camden Resources Limited, Riverside Logistics Limited and Rainbownet Limited.
Also on the list of debtors is Senator Buruji Kashamu who owes the corporation N13.015 billion. Jailed former governor of Plateau State, Joshua Dariye who had purchased All Progressive Congress (APC) senatorial nomination form but failed to secure a ticket was also on the list. The former governor who is currently serving a 14 year jail term for corruption charges currently owes AMCON N6.823 billion, which he has yet to come to reach a payment agreement. Another prominent name on the list is former Minister of Power, Professor Bart Nnaji, whose name appeared as a director of Geometric Power Limited, which is indebted to the tune of N29.844 billion, just to mention a few.