The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtors.

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, businessman and owner of Capital Oil, tops the list with a debt of N115 billion.


S/NObligor NameMain Promoter(s)Current Exposure
1Capital Oil & Gas Industries LimitedIfeanyi Ubah115,952,152,265.92
2NICON Investments LimitedJimoh Ibrahim59,544,633,980.31
3Bi-Courtney Limited (MMA2)Wale Babalakin (SAN)40,798,422,374.02
4Josepdam & Sons LimitedLate Mrs. Josephine Damilola Kuteyi
Saheed Kuteyi
Ganiyu Kuteyi
39,056,674,951.55
5Tinapa Business ResortCross River State Government36,006,319,844.68
6Home Trust SavingsChukwukadibia Ajaegbu
Funmu Ademosun
30,626,243,344.71
7Geometric Power LimitedProf. 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
8Roygate Properties LimitedWale Babalakin (SAN) Agumadu John
Alarape Olabode
Okhaleke Ndudi
28,137,176,532.32
9Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC)Shell Staff, represented by Ikponmwosa Ogiemuda26,474,541,188.17
10Anyiam Osigwe LimitedAnyiam-Osigwe Dorothy Chinyere20,523,322,350.29
11Platinum CapitalObire Richard Francis Atuche20,378,820,507.19
12Flotsome Investment LimitedOboden IbruTejiro Ibru20,218,703,550.96
13Lonestar DrillingLate Chief Idisi
Margaret Idisi
20,207,979,803.22
14Petrologistics LimitedUgoji Egbujo19,576,962,565.35
15Lorna Global ResourcesH.E. Chimaroke Nnamami18,919,109,352.85
16Hosanna Properties LimitedAnionye ChikaObi Ike C.18,059,895,396.27
17Minaj Holdings LimitedAjegbo Mike Nnayeluchudihu
Luke Chidi Chudihuilogu
Miller Gregrey
Ethridge Kyle
Attueyi Joe
Oladele Afolabi
Okpere Kisito
Kokoricha Paul
17,306,900,257.66
18Afrijet Airlines LimitedInoelle Willam Barry
Carr Collin
13,122,022,439.57
19Petroleum Brokers LimitedWilcox Awopuolagha13,076,314,937.26
20Hotel De Island; Kasmal Properties; Island Autos & NacoilKashamu Prince Buruji13,015,595,907.67
21Zarm Stores LimitedGbadamosi Muftau, The Olofa of Offa12,410,560,226.18
22Tak Continental LimitedThomas Akoh Etuh11,585,755,562.89
23Netlink Digital TelevisionFashewe Oyewole
Varderpuije Ahmed
11,550,782,130.79
24Mobil Workers (EKET) Multipurpose Cooperative SocietyMobil Workers, represented by Okeke Eze (legal practitioner)11,504,121,133.06
25DWC Drilling LimitedEtheridge Kyle
John Ayeke
11,363,388,024.05
26Sammy Beth Interbiz LimitedH.E. Chimaroke Nnamani11,017,336,899.00
27Ferdinand Oil MillsChief Ferdinand Anyaoha Anghara10,855,175,005.53
28Octopus Trust Nigeria LimitedErastus Akingbola10,175,717,163.07
29Avian SpecFemi JamesFunmi Ayorinde7,619,760.034.02
30Brooke Investments LimitedChief S.I. Adegbite
Adegbite Adewale Michael
Adegbite Ademola Olumide
Sofela Michael Olufemi
7,341,118,227.21
31Resource Intermediaries LimitedSoji Oyawoye (MD/CEO)
Ebun Bamigboye
Weyinmi Jemide
Ido Ohiwere
7,282,308,754.08
32Jummai MahmudSenator Joshua Dariye6,823,110,429.13
33Genprogetti Nigeria LimitedNnamdi O. Okoye
Charles Umeadi
6,637,593,140.34
34Ray Gold Silver Plus LimitedOboden IbruTejiro Ibru6,392,813,914.61
35Camden Resources LimitedH.E. Chimaroke Nnamani5,875,022,498.73
36Riverside Logistics LimitedH.E. Chimaroke Nnamani5,874,161,281.46
37Robo Michael LimitedKassabali Samir Ibrahim
Egirani AroboEgirani Olotu
5,837,512,139.51
38Lexcap PartnersAlbert OkumagbaChibundu Edozie5,696,111,908.02
39Osigwe Foods & Agro IndustriesMoh’d Anselm Kayode
Raji A. Usman
5,648,190,385.41
40Rangk LimitedKanu Godwin Ndubuisi5,390,589,104.93
41Afro-Arab Investment LimitedBaba-Ahmed Moufitah
Baba-Ahmed Muna Beitah
5,340,204,984.21
42Dormanlong Engineering LimitedAusten Peters4,700,000,000.00
43Abasa Nigeria Enterprises Limited NPK1 AEzuma Innocent Ozoemena4,666,999,131.41
44Lawal Obelawo Plastics Industries Limited (LOPIN)Prince Lawal
Olaosebikan Yesufu
Ramota Lawal
4,361,717,794.63
45Eres N V (Nig.) LimitedChief Pius Akinyelure4,171,546,113.09
46Al-Kahf Motorcycle Company LimitedShehu Badamasi
Safiya M. Badamasi
4,067,369,214.72
47Madunka Motorcycle Company LimitedAbdullahi A. Haido
Zainab A. Haido
3,561,115,889.09
48Terminal ZeroObadina Gbenga
Niyi Oyedele
3,318,675,426.60
49Ocean Deep Properties LimitedRay Nduka J. Okpu
Ray Ufoma Okpu
3,075,367,362.75
50Claremount Management LimitedOkobi Paul Uche
Akpan Patrick
2,944,490,078,53
51Ena-Bell LimitedOjo Osamuede Belle
Ojo Osamuede Enahoro
2,910,142,971.76
52Omega Sunshine Ventures LimitedSegun Agbetuyi
Tolulope O. Fadahunsi
2,763,085,587.14
53Tuns Farm Nigeria LimitedOlatunde Adekunle Badmus
Joseph Zopy
2,738,973,788.06
54Nakem Oil & Gas Company LimitedAlebe Nathaniel UzeziAlebe O. Gift2,718,933,557.79
55Hyacinnth U.F. EnuhaHyacinth Uzu-Fela Enuha2,710,078,325.77
56Ray OkpuRay Okpu2,673,346,469.66
57Bao Yao Future LexGarba Idris Abubakar
Yaozhang Shen
2,669,859,056.59
58Aquitane Oil and Gas LimitedIkechukwu Okolo2,640,490,132.20
59Waziri B. MustaphaAlhaji Waziri B. Mustapha2,612,458,766.09
60Riggs Securities LimitedYomi Tokosi
Tokosi Tokumbo
Frederick Fasheun
Ralph Obiha
Awosika Kola
2,601,085,572.34
61Likam Nigeria LimitedAlhaji Ibrahim Hamza
Yashuwah Hamza
2,525,755,239.96
62Safe Nigeria LimitedItohan Ogieva-Omosigho
Osa Ogieva-Omosigho
2,369,063,554.93
63Woksons International LimitedChief William OkiOke E. Cynthia2,326,577,517.14
64Travaux Investments LimitedLambo Jumoke
Ogutuga KemiSheri William
Folarin Rotimi Williams
2,303,470,835.43
65Omega Savings and LoansAgbetuyi Segun
Adeniyi A. Adeuyiwa
2,283,749,521.09
66Bellview Airlines LimitedKayode OdukoyaAVM Emmanuel Ombu (Rtd)2,258,232,021.87
67Sage Int. Nig. LimitedAtikoro Uyovbukerhi
Maureen Uyovbukerhi
2,241,719,528.00
68Van Vliet Trucks LimitedNol Van Vliet
Adetunmbi DayoKome Agodo
2,136,216,694.00
69Baba Haruna IbrahimBaba Hruna Ibrahim2,076,544,891.02
70Abbey Lincoln LimitedAwoleye T. Abisodun
Francis T. Abisodun
2,065,489,600.50
71Shell Staff WestShell Staff, represented by Ikponmwosa Ogiemuda2,004,956,109.70
72U.L.O. Consult, OgbeogonogoChief Uche Luke Okpuno1,984,819,888.82
73Variations Industries LimitedNwazulu Prince Dennis
Nwazulu Protus
1,969,012,064.04
74Tuns Holdings LimitedOlatunde Adekunle Badmus
Joseph Zopy
1,965,039,873.11
75Shelter DevelopmentBayero Usman Ja’afaru
Ibrahim Isa Wada
1,875,156,385.12
76Lynq CommunicationsJoe Obiora Udeagbala
Sylvia Udeagbala
1,847,974,990.21
77Petlib Envi-Chem SerIbiam Eleanya
Ekwo Eteakamba Edem
1,706,415,936,54
78Amsalco Ind. LimitedAminu Saleh
Bashir Aminu Saleh
1,646,184,931.54
79Aminu Saleh AlhajiAminu Saleh Alhaji1,630,812,798.76
80Chevron Oil Staff Multipurpose CooperativeChevron Staff1,595,966,334.11
81Micro Products Int’l Nig. LimitedChris Anugwolu1,568,839,810.06
82The Franklin Hotel & SuitesFrank Omosigo1,566,984,396.77
83Titanium Oil and Energy LimitedAcholonu Patrick
Ekezie Chief Ralph
1,564,295,090.70
84Alcomp Computers LimitedEngineer Emeka Vitus Ezenwanne
Gloria Uzoamaka Ezenwanne
1,559,711,000.55
85Tina Stores LimitedMatthew Nmezi
Clementina Nmezi
1,558,068,328.38
86Shemofeyo Ventures LimitedSheba A. Acholonu Patrick
Modupe Olorunfemi
1,549,586,200.57
87Westoil Petroleum Services LimitedBidemi H. Fahn
Hamdalat Ajayi
Omotayo Fahn
1,540,787,598.44
88Ohzed Oil and Gas Company LimitedStella O. Dike
Engr Matthew A. Dike
1,516,937,763.45
89KDC Construction LimitedAlh Waziri B. Mustapha1,480,572,356.42
90Deep Sea Oil Gas LimitedItelima Steve Yeowuma
Itelima Patricia Yeowuma
1,386,834,554.36
91Ascot Fabricators and Constr. LimitedHenry E. Imasekha
Joey Chuma Obue
1,374,274,319.42
92I.C.M.G. LimitedMike Osime1,339,507,291.77
93Huf Engineering Nigeria LimitedEnuha Hyacinth Uzu Fela
Enuha Carol
1,288,402,095.13
94Integral Petrochemicals LimitedOludare O. Olagoke
Adeyemi Y. Olagoke
1,269,386,433.60
95Unicorn Place Leisure Services LimitedIke Nwabuoku1,256,178,425.11
96Ibika Investment & Property LimitedFashina Kofoworola Olakunle
Fashina Mabayomije Omololu
1,230,763,959.94
97Assorted Foods & BeveragesIfabiyi Ademola
Ifabiyi Eyitope
Ifabiyi Toyin
1,185,194,335.36
98Al-Fil Petroleum Company LimitedAlao Idris
Alao Abdullatif
1,151,788,405.05
99Primeview Investment and PropertyGabriel Orene
Esule George
1,119,804,330.77
100Merepainti Nigeria Limited/BPT EquipmentEngr Mohammed Nura Khalil987,172,183.55
101Rainbownet LimitedH.E. Chimaroke Nnamani804,985,922.59
102Paveblocks Nigeria LimitedAlh Waziri B. Mustapha633,128,165.50
103Honourable Adetunji AdeniyiHonourable Adetunji Adeniyi491,220,414.05
104Engr. Sarki LabaranEngr. Sarki Labaran471,402,281.70
105Senator Usman Bayero NafadaSenator Usman Bayero Nafada409,502,652.84

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.

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