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Ifeanyi Ubah, Jimoh Ibrahim Top List of Nigerians Biggest Debtors

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5 years ago

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The Asset Management Corporation of Nigeria (AMCON) has fulfilled the promise it made to name and shame some very important persons in the country owing the corporation huge amount of money worth N906.109 Billion.

According to the list, Business Magnates, Ifeanyi Ubah of Capital Oil and Gas is indebted to the tune of N115.952 billion while Jimoh Ibrahim of NICON Investments Limited is indebted with N59.544 billion with other 103 individuals and companies also on the list summing the debt to N906.109 Billion.

AMCOM made the list of the 105 individuals and companies public after running out of patience with repeated promises of repayment on the part of the debtors. Below is the list of the debtors and their debts:

  1. Capital Oil & Gas Industries Limited Ifeanyi Ubah 115,952,152,265.92
  2. NICON Investments Limited Jimoh Ibrahim 59,544,633,980.31
  3. Bi-Courtney Limited (MMA2) Wale Babalakin (SAN) 40,798,422,374.02
  4. Josepdam & Sons Limited Late Mrs. Josephine Damilola Kuteyi, Saheed Kuteyi, Ganiyu Kuteyi 39,056,674,951.55
  5. Tinapa Business Resort Cross River State Government 36,006,319,844.68
  6. Home Trust Savings Chukwukadibia Ajaegbu, Funmu Ademosun. 30,626,243,344.71
  7. Geometric Power Limited; Prof. 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
  8. Roygate Properties Limited; Wale Babalakin (SAN), Agumadu John, Alarape Olabode, Okhaleke Ndudi. 28,137,176,532.32
  9. Shell Development Petroleum Company–West Multipurpose Co-operative Society Limited (SPDC) Shell Staff, represented by Ikponmwosa Ogiemuda 26,474,541,188.17
  10. Anyiam Osigwe Limited; Anyiam-Osigwe, Dorothy Chinyere 20,523,322,350.29
  11. Platinum Capital; Obire Richard, Francis Atuche. 20,378,820,507.19
  12. Flotsome Investment Limited; Oboden Ibru, Tejiro Ibru 20,218,703,550.96
  13. Lonestar Drilling; Late Chief Idisi; Margaret Idisi. 20,207,979,803.22
  14. Petrologistics Limited; Ugoji Egbujo. 19,576,962,565.35
  15. Lorna Global Resources; H.E. Chimaroke Nnamami. 18,919,109,352.85
  16. Hosanna Properties Limited; Anionye Chika, Obi Ike C. 18,059,895,396.27
  17. Minaj Holdings Limited; Ajegbo Mike Nnayeluchudihu, Luke Chidi Chudihuilogu, Miller Gregrey, Ethridge Kyle, Attueyi Joe, Oladele Afolabi, Okpere Kisito and Kokoricha Paul 17,306,900,257.66
  18. Afrijet Airlines Limited; Inoelle Willam Barry, Carr Collin. 13,122,022,439.57
  19. Petroleum Brokers Limited; Wilcox Awopuolagha 13,076,314,937.26
  20. Hotel De Island; Kasmal Properties; Island Autos & Nacoil; Kashamu Prince Buruji 13,015,595,907.67
  21. Zarm Stores Limited; Gbadamosi Muftau, The Olofa of Offa 12,410,560,226.18
  22. Tak Continental Limited; Thomas Akoh Etuh 11,585,755,562.89
  23. Netlink Digital Television; Fashewe Oyewole, Varderpuije Ahmed 11,550,782,130.79
  24. Mobil Workers (EKET) Multipurpose Cooperative Society Mobil Workers, represented by Okeke Eze (legal practitioner) 11,504,121,133.06
  25. DWC Drilling Limited; Etheridge Kyle, John Ayeke. 11,363,388,024.05
  26. Sammy Beth Interbiz Limited; H.E. Chimaroke Nnamani 11,017,336,899.00
  27. Ferdinand Oil Mills; Chief Ferdinand, Anyaoha Anghara 10,855,175,005.53
  28. Octopus Trust Nigeria Limited; Erastus Akingbola 10,175,717,163.07
  29. Avian Spec; Femi James, Funmi Ayorinde 7,619,760.034.02
  30. Brooke Investments Limited; Chief S.I. Adegbite, Adegbite Adewale Michael, Adegbite Ademola Olumide, Sofela Michael Olufemi. 7,341,118,227.21
  31. Resource Intermediaries Limited; Soji Oyawoye (MD/CEO), Ebun Bamigboye, Weyinmi Jemide, Ido Ohiwere 7,282,308,754.08
  32. Jummai Mahmud; Senator Joshua Dariye. 6,823,110,429.13
  33. Genprogetti Nigeria Limited; Nnamdi O. Okoye, Charles Umeadi 6,637,593,140.34
  34. Ray Gold Silver Plus Limited; Oboden Ibru, Tejiro Ibru 6,392,813,914.61
  35. Camden Resources Limited; H.E. Chimaroke Nnamani 5,875,022,498.73
  36. Riverside Logistics Limited; H.E. Chimaroke Nnamani 5,874,161,281.46
  37. Robo Michael Limited; Kassabali Samir Ibrahim, Egirani Arobo, Egirani Olotu. 5,837,512,139.51
  38. Lexcap Partners; Albert Okumagba, Chibundu Edozie. 5,696,111,908.02
  39. Osigwe Foods & Agro Industries; Moh’d Anselm Kayode, Raji A. Usman. 5,648,190,385.41
  40. Rangk Limited; Kanu Godwin Ndubuisi 5,390,589,104.93
  41. Afro-Arab Investment Limited; Baba-Ahmed Moufitah, Baba-Ahmed Muna Beitah. 5,340,204,984.21
  42. Dormanlong Engineering Limited; Austen Peters 4,700,000,000.00
  43. Abasa Nigeria Enterprises Limited; NPK1 A Ezuma Innocent Ozoemena 4,666,999,131.41
  44. Lawal Obelawo Plastics Industries Limited (LOPIN); Prince Lawal Olaosebikan Yesufu, Ramota Lawal 4,361,717,794.63
  45. Eres N V (Nig.) Limited; Chief Pius Akinyelure 4,171,546,113.09
  46. Al-Kahf Motorcycle Company Limited; Shehu Badamasi, Safiya M. Badamasi 4,067,369,214.72
  47. Madunka Motorcycle Company Limited; Abdullahi A. Haido, Zainab A. Haido 3,561,115,889.09
  48. Terminal Zero; Obadina Gbenga, Niyi Oyedele. 3,318,675,426.60
  49. Ocean Deep Properties Limited; Ray Nduka J. Okpu, Ray Ufoma Okpu. 3,075,367,362.75
  50. Claremount Management Limited; Okobi Paul Uche, Akpan Patrick. 2,944,490,078,53
  51. Ena-Bell Limited Ojo Osamuede Belle, Ojo Osamuede Enahoro. 2,910,142,971.76
  52. Omega Sunshine Ventures Limited; Segun Agbetuyi, Tolulope O. Fadahunsi. 2,763,085,587.14
  53. Tuns Farm Nigeria Limited; Olatunde Adekunle Badmus, Joseph Zopy. 2,738,973,788.06
  54. Nakem Oil & Gas Company Limited; Alebe Nathaniel Uzezi, Alebe O. Gift 2,718,933,557.79
  55. Hyacinnth U.F. Enuha; Hyacinth Uzu-Fela Enuha 2,710,078,325.77
  56. Ray Okpu; Ray Okpu 2,673,346,469.66
  57. Bao Yao Future Lex; Garba Idris Abubakar, Yaozhang Shen 2,669,859,056.59
  58. Aquitane Oil and Gas Limited; Ikechukwu Okolo 2,640,490,132.20
  59. Waziri B. Mustapha; Alhaji Waziri B. Mustapha 2,612,458,766.09
  60. Riggs Securities Limited; Yomi Tokosi,Tokosi Tokumbo, Frederick Fasheun, Ralph Obiha, Awosika Kola 2,601,085,572.34
  61. Likam Nigeria Limited; Alhaji Ibrahim Hamza, Yashuwah Hamza 2,525,755,239.96
  62. Safe Nigeria Limited; Itohan Ogieva-Omosigho, Osa Ogieva-Omosigho 2,369,063,554.93
  63. Woksons International Limited; Chief William Oki, Oke E. Cynthia 2,326,577,517.14
  64. Travaux Investments Limited; Lambo Jumoke, Ogutuga Kemi, Sheri William, Folarin Rotimi Williams 2,303,470,835.43
  65. Omega Savings and Loans; Agbetuyi Segun, Adeniyi A. Adeuyiwa 2,283,749,521.09
  66. Bellview Airlines Limited; Kayode Odukoya AVM, Emmanuel Ombu (Rtd) 2,258,232,021.87
  67. Sage Int. Nig. Limited; Atikoro Uyovbukerhi, Maureen Uyovbukerhi 2,241,719,528.00
  68. Van Vliet Trucks Limited; Nol Van Vliet, Adetunmbi Dayo, Kome Agodo 2,136,216,694.00
  69. Baba Haruna; Ibrahim Baba, Hruna Ibrahim 2,076,544,891.02
  70. Abbey Lincoln Limited; Awoleye T. Abisodun, Francis T. Abisodun 2,065,489,600.50
  71. Shell Staff West Shell Staff; represented by Ikponmwosa Ogiemuda 2,004,956,109.70
  72. L.O. Consult Ogbeogonogo; Chief Uche Luke Okpuno 1,984,819,888.82
  73. Variations Industries Limited; Nwazulu Prince Dennis, Nwazulu Protus 1,969,012,064.04
  74. Tuns Holdings Limited; Olatunde Adekunle Badmus, Joseph Zopy 1,965,039,873.11
  75. Shelter Development, Bayero Usman Ja’afaru, Ibrahim Isa Wada 1,875,156,385.12
  76. Lynq Communications; Joe Obiora Udeagbala, Sylvia Udeagbala 1,847,974,990.21
  77. Petlib Envi-Chem Ser; Ibiam Eleanya E,  Ekwo Eteakamba Edem 1,706,415,936,54
  78. Amsalco Ind. Limited; Aminu Saleh, Bashir Aminu Saleh 1,646,184,931.54
  79. Aminu Saleh Alhaji; Aminu Saleh Alhaji 1,630,812,798.76
  80. Chevron Oil Staff Multipurpose Cooperative Chevron Staff 1,595,966,334.11
  81. Micro Products Int’l Nig. Limited; Chris Anugwolu 1,568,839,810.06
  82. The Franklin Hotel & Suites; Frank Omosigo 1,566,984,396.77
  83. Titanium Oil and Energy Limited; Acholonu Patrick, Ekezie Chief Ralph 1,564,295,090.70
  84. Alcomp Computers Limited; Engineer Emeka Vitus Ezenwanne, Gloria Uzoamaka Ezenwanne 1,559,711,000.55
  85. Tina Stores Limited; Matthew Nmezi, Clementina Nmezi 1,558,068,328.38
  86. Shemofeyo Ventures Limited; Sheba A. Acholonu, Patrick Modupe Olorunfemi 1,549,586,200.57
  87. Westoil Petroleum Services Limited; Bidemi H. Fahn, Hamdalat Ajayi Omotayo Fahn 1,540,787,598.44
  88. Ohzed Oil and Gas Company Limited; Stella O. Dike Engr Matthew A. Dike 1,516,937,763.45
  89. KDC Construction Limited Alh Waziri B. Mustapha 1,480,572,356.42
  90. Deep Sea Oil Gas Limited; Itelima Steve Yeowuma, Itelima Patricia Yeowuma 1,386,834,554.36
  91. Ascot Fabricators and Constr. Limited; Henry E. Imasekha, Joey Chuma Obue 1,374,274,319.42
  92. C.M.G. Limited; Mike Osime 1,339,507,291.77
  93. Huf Engineering Nigeria Limited; Enuha Hyacinth Uzu Fela, Enuha Carol 1,288,402,095.13
  94. Integral Petrochemicals Limited; Oludare O. Olagoke, Adeyemi Y. Olagoke 1,269,386,433.60
  95. Unicorn Place Leisure Services Limited; Ike Nwabuoku 1,256,178,425.11
  96. Ibika Investment & Property Limited; Fashina Kofoworola Olakunle, Fashina Mabayomije Omololu 1,230,763,959.94
  97. Assorted Foods & Beverages; Ifabiyi Ademola Ifabiyi, Eyitope Ifabiyi Toyin 1,185,194,335.36
  98. Al-Fil Petroleum Company Limited; Alao Idris Alao Abdullatif 1,151,788,405.05
  99. Primeview Investment and Property Gabriel Orene Esule George 1,119,804,330.77
  100. Merepainti Nigeria Limited/BPT Equipment; Engr Mohammed Nura Khalil 987,172,183.55
  101. Rainbownet Limited; H.E. Chimaroke Nnamani 804,985,922.59
  102. Paveblocks Nigeria Limited; Alh. Waziri B. Mustapha 633,128,165.50
  103. Honourable Adetunji Adeniyi; Honourable Adetunji Adeniyi 491,220,414.05
  104. Sarki Labaran; Engr. Sarki Labaran 471,402,281.70
  105. Senator Usman Bayero Nafada; Senator Usman Bayero Nafada 409,502,652.84

Courtesy: Dailyadvent

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FirstBank Appoints New MD/CEO, Alebiosu

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3 days ago

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April 22, 2024

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First Bank of Nigeria has appointed Olusegun Alebiosu as its new Managing Director with effect from April 2024.

The Bank stated this in a release signed by its acting company secretary Adewale Arogundade.

Alebiosu takes from Adesola Adeduntan, who resigned abruptly on Saturday with eight months left to complete his tenure in December 2024.

The release stated that “following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the 130-year-old institution.

“The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”

The release stated that Alebiosu was until this appointment the executive director, chief risk officer and executive compliance officer since January 2022. Prior to that, he was the Group executive/ chief risk officer, a position he held since 2016.

“Alebiosu brings to the executive management of FirstBank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas, Transportation (including Aviation and Shipping) and Project financing.”

It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

“He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.

“He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.”

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Again, Naira Slumps Against Dollar, Trades at N1,169/$1 in Official Window

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5 days ago

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April 20, 2024

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The Naira, on Friday, slumped for the second consecutive day against the American dollar at the official window trading at N1,169/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

At the end of trading on Friday, the Naira lost N15 against the dollar when compared to the previous exchange rate of N1,154/$1 on Thursday, April 18, 2024.

The intra-day high and low recorded during the day were N1,236/$1 and N1,021/$1 respectively, representing a lean spread of N215/$1.

Similarly, the Naira slumped against the dollar at the parallel market for the second consecutive day to trade at N1,150/$1 representing a loss of N50 when compared to the N1,100/$1 it traded the previous day.

The British Pound also slumped against the Naira by N50 to trade at N1,500/£1 as against the previous trading price of N1,450/£1 representing a loss of N50 for the local currency,

The Canadian dollar however closed flat against the Naira to trade at N1,000/CA$1 same as the previous trading day rate of N1,000/ CA$1.

The Euro also slumped against the Naira to trade at N1, 280/€1 as against the rate of N1,200/€1 the previous trading rate indicating a gain of N80 in the European currency.

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Glo Launches New Internet Solution Products for Homes, Businesses

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Two new products, which provide internet connectivity solutions specially designed for Residential and SME commercial customers, have been unveiled by digital solutions company, Globacom.

The products, Fibre to the Home (FTTH) and Fibre to the Business (FTTB) were packaged for Glo customers to enjoy reliable and high speed internet through linked fibre services.

Globacom said in a statement in Lagos “With these services, businesses and homes can access dedicated internet speeds of up to 1GBps, allowing unlimited internet usages for seamless video calls, video and music streaming and a whole lot of other dedicated usages to promote business success and equally provide endless entertainment for homes”.

It explained that the new product comes with a unique opportunity for “Residential Estates, High Rise Apartments, Commercial SME Estates to enjoy dedicated high speed internet in their cluster”.

These services, according to Globacom, give exceptional experience and unmatched speed for users at home or in offices and are provided through hi-speed fibre – unlike copper which was being used in the past.

Positioning itself as the premier provider of innovative solutions for businesses of all sizes, Globacom assured customers of the best value for money with the new offerings, adding that users who sign on for these services will also enjoy fully dedicated bandwidth.

“We are committed to delivering the most cost-effective data connectivity experience for homes and businesses in addition to providing dedicated and reliable services.” Globacom concluded.

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