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.

Tony Elumelu of Heirs Holdings

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:

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.

To Build Palm Oil and Cassava Estates Like Malaysia and Prosper Our Rural Families

In the quiet farmlands of Anambra, where generations have tilled the soil with hope, a new dawn is rising.

For too long, our rural communities have worked hard yet gained little.

Our cassava farmers heroes in worn slippers, process their harvest with bare hands.

Our palm oil producers still rely on age old methods, while nations like Malaysia turned palm oil into a global goldmine.

But in this season of political and farming awakening, one man stands with a vision rooted in our soil and aimed at the world, John Nwosu of the African Democratic Congress (ADC).

African Democratic Congress (ADC) gubernatorial candidate, Mr. John Chuma Nwosu

Nwosu isn’t just promising development.

He is promising dignity and wealth, actually, a return of pride to the farmers who feed our land.

Nwosu’s blueprint is bold and transformative:

• Build modern palm oil plantations and processing estates

• Develop cassava value-chain zones powered by technology

• Train and support rural farmers with access to finance
• Create storage, processing, and export hubs
• Turn our villages into international agro investment destinations

This is not politics as usual; this is a mission to lift our rural families from subsistence to prosperity.

A mission to ensure that the hands that plant are the hands that profit.

A mission to turn Anambra into Nigeria’s food to wealth capital.

“Proudly Anambra” palm oil and cassava products

Imagine Ogbaru, Ihiala, Aguata, and Ayamelum booming like Malaysia’s Selangor and our youths returning home to run agro-industries, instead of fleeing in search of survival.

Imagine women farmers earning globally competitive incomes, while branded “Proudly Anambra” palm oil and cassava products on shelves from Lagos to London, Dubai to New York.

For years we watched the world grow wealthy from crops that originated here.

Now, John Nwosu says “it is our turn; it is Anambra’s turn”.

No farmer will be forgotten. No rural child will be left behind.

With ADC, our land will work for us not the other way around.

This is not just agriculture, it is liberation. It is job creation. It is rural revival.

And it begins with one vote. One commitment. One vision for prosperity rooted in the red soil of home.

Ndi Anambra, the future is in our farms and the future is now.

Vote John Nwosu, vote ADC!

(DDM) – The Niger Delta Development Commission (NDDC) has unveiled a bold food‑security strategy aimed at transforming the Niger Delta into a major agricultural hub.

Diaspora Digital Media (DDM) gathered that the initiative, titled “From Oil to Agriculture: Reimagining the Delta,” seeks to shift the region’s economic focus from crude oil to sustainable agriculture.

The plan outlines investments in irrigation infrastructure, agribusiness value chains, mechanisation support, and youth farming cooperatives across the Niger Delta.

A major objective of the strategy is to reduce over-reliance on oil revenues while increasing food production for domestic consumption and export.

The initiative also aims to create employment opportunities for youths and stimulate local economies in Delta State and neighbouring states.

Funding for the project will come from oil-derivation allocations, donor partnerships, and private-sector investments in agritech companies.

Community engagement and land‑reform support are promised as key components to ensure that local populations benefit from the programme.

Officials say the initiative represents a decisive step toward diversifying the Niger Delta economy and addressing persistent unemployment and poverty challenges.

Critics, however, have raised concerns about the feasibility of the plan, citing past delays, mismanagement, and corruption allegations against the NDDC.

Some stakeholders fear that without strong oversight, the funding could be diverted, leaving the project under‑delivered as seen in previous NDDC initiatives.

Background

The Niger Delta region has long been heavily dependent on crude oil production, contributing significantly to Nigeria’s federal revenue.

Despite oil wealth, the region suffers from underdevelopment, environmental degradation, and high unemployment rates, especially among youths.

Past attempts to diversify the economy have met with limited success, often due to lack of consistent policy implementation and accountability.

Agriculture has been identified as a viable alternative to oil dependency, given the region’s fertile land, favourable climate, and access to water resources.

The new plan aims to leverage these natural advantages while integrating modern agritech solutions to increase productivity and efficiency.

Implications

If successfully implemented, the NDDC’s strategy could transform the Niger Delta into a major food supplier for Nigeria and the West African sub-region.

The project has the potential to reduce youth restiveness by providing sustainable employment in farming and agribusiness.

It may also enhance food security, reduce inflationary pressures on staple foods, and boost local economic growth.

However, the success of the initiative will largely depend on transparent management, effective monitoring, and timely disbursement of funds.

Observers will also watch whether community-level engagement and land reforms are genuinely implemented or remain largely symbolic.

Looking Forward

The coming months will be critical as the NDDC begins rolling out the strategy across the Delta region.

Stakeholders, investors, and local communities will monitor how the plan balances oil dependence with agricultural transformation.

The project’s effectiveness could serve as a model for other oil-dependent regions seeking sustainable economic diversification in Nigeria.