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

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LAGOS—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.


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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.


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