The Central Bank of Nigeria (CBN) has published the names of some defaulters, owing over five trillion Naira across several banks.
According to the list released by CBN, Mr. Tony Elumelu of Heirs Holdings took a loan of N41.5 billion at fifteen per cent interest rate per annum.
The list also captured Capital Oil and Gas Industries Limited, owned by the late Senator Patrick Ifeanyi Ubah.
The oil company is the highest defaulter with over one hundred and fifteen billion Naira, according to CBN.
Other on the list include NICON Investments Limited, Bi-Courtney Limited (MMA2) and Josepdam & Sons Limited.
It also includes Tinapa Business Resort, Home Trust Savings, Geometric Power Limited, and the rest.
Below are the some of the debtors with the default amount:
S/N |
Company |
Promoter(s) |
Current Exposure |
| 1. | Capital Oil & Gas Industries Limited | Ifeanyi Ubah | N115,952,152,265.92 |
| 2. | NICON Investments Limited | Jimoh Ibrahim | N59,544,633,980.31 |
| 3. | Heirs Holdings | Tony Elumelu | N41.5 billion |
| 4. | Bi-Courtney Limited (MMA2) | Wale Babalakin (SAN) | N40,798,422,374.02 |
| 5. | Josepdam & Sons Limited | Josephine Damilola, Kuteyi Saheed, Kuteyi Ganiyu | N39,056,674,951.55 |
| 6. | Tinapa Business Resort | Cross River State Government | N36,006,319,844.68 |
| 7. | Home Trust Savings | Chukwukadibia Ajaegbu, Funmi Ademosun |
N30,626,243,344.71 |
| 8. | Geometric Power Limited | Prof. Barth 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 |
N29,844,500,896.77 |
| 9. | Roygate Properties Limited | Wale Babalakin (SAN), Agumadu John, Alarape Olabode, Okhaleke Ndudi |
N28,137,176,532.32 |
| 10. | Shell Development Petroleum Company | West Multipurpose Co-operative Society Limited (SPDC) Shell Staff, represented by Ikponmwosa Ogiemuda | N26,474,541,188.17 |
| 11. | Anyiam Osigwe Limited | Anyiam-Osigwe, Dorothy Chinyere |
N20,523,322,350.29 |
| 12. | Platinum Capital | Obire Richard, Francis Atuche |
N20,378,820,507.19 |
| 13. | Flotsome Investment Limited | Oboden Ibru, Tejiro Ibru |
N20,218,703,550.96 |
| 14. | Lonestar Drilling | Late Chief Idisi, Margaret Idisi |
N20,207,979,803.22 |
| 15. | Petrologistics Limited | Ugoji Egbujo | N19,576,962,565.35 |
| 16. | Lorna Global Resources | Chimaroke Nnamami | N18,919,109,352.85 |
| 17. | Hosanna Properties Limited | Anionye Chika, Obi Ike C |
Unspecified |
Crime without consequence
Reacting to the expose, a concerned Nigerian, Otunba Mark Adesanya, decried the unhealth business practice of the defaulters stifling the financial industry.
Adesanya said: “There are still many of them roaming freely in an opulence lifestyle.
“If the CBN published all the names of defaulters, there are about 20 of them owing over N5 trillion Naira.
“The past government set up a committee through AMCON (Asset Management Corporation of Nigeria) to get the money from them.
“But just like an elite game, Nigerians did not hear much of what happened.
“These men are super elites and above the law; most of the debts are now classified as bad debts.
“But they are sitting on riches and even contesting elections, and some are in the National Assembly, making laws for us.
“These people are responsible for where we are at the moment.
“Some tonnes and tonnes of money deposited in the banks have disappeared without trace.
“Some debts have been declared doubtful because the effort to retrieve them have not been successful.
“Whereas, those who took the loans from these banks may not have supported it with collateral, getting their collateral to go for it is not possible because there’s nothing on ground to auction.
“This is the seriousness of the huge financial crime they have inflicted on Nigeria.”
Adesanya, therefore, called on President Bola Ahmed Tinubu to be serious about revitalising the banking industry.
He demanded that those who had contributed to the parlour state of the economy must be brought to book.
“They must cough what they have swallowed.
“Nigeria will only survive if we are determined to take difficult decisions on critical matters bothering on the economic survival of our great country,” he added.
