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Ifeanyi Ubah, Jimoh Ibrahim, Wale Babalakin Top AMCON’s List of Debtors Owning N906bn (Full List)

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The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtors owing a total of N906 billion. In an advertorial published on some National dailies, the group said all avenues to reach the “deliquent” debtors have proved abortive.

“This has become necessary as all avenues provided by the corporation for the debtors to propose acceptable resolution terms have failed. 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.” the statement read

See the list below

S/N Obligor Name Main Promoter(s) Current Exposure
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 KuteyiSaheed KuteyiGaniyu Kuteyi 39,056,674,951.55
5 Tinapa Business Resort Cross River State Government 36,006,319,844.68
6 Home Trust Savings Chukwukadibia AjaegbuFunmu Ademosun 30,626,243,344.71
7 Geometric Power Limited Prof. Barth NnajiNnaji AgathaObibuaru 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 JohnAlarape 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 RichardFrancis Atuche 20,378,820,507.19
12 Flotsome Investment Limited Oboden IbruTejiro Ibru 20,218,703,550.96
13 Lonestar Drilling Late Chief IdisiMargaret 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 ChikaObi Ike C. 18,059,895,396.27
17 Minaj Holdings Limited Ajegbo Mike NnayeluchudihuLuke Chidi ChudihuiloguMiller Gregrey

Ethridge Kyle

Attueyi Joe

Oladele Afolabi

Okpere Kisito

Kokoricha Paul

17,306,900,257.66
18 Afrijet Airlines Limited Inoelle Willam BarryCarr 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 OyewoleVarderpuije 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 KyleJohn 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 JamesFunmi Ayorinde 7,619,760.034.02
30 Brooke Investments Limited Chief S.I. AdegbiteAdegbite Adewale MichaelAdegbite Ademola Olumide

Sofela Michael Olufemi

7,341,118,227.21
31 Resource Intermediaries Limited Soji Oyawoye (MD/CEO)Ebun BamigboyeWeyinmi 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. OkoyeCharles Umeadi 6,637,593,140.34
34 Ray Gold Silver Plus Limited Oboden IbruTejiro 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 IbrahimEgirani AroboEgirani Olotu 5,837,512,139.51
38 Lexcap Partners Albert OkumagbaChibundu Edozie 5,696,111,908.02
39 Osigwe Foods & Agro Industries Moh’d Anselm KayodeRaji 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 MoufitahBaba-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 YesufuRamota 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 BadamasiSafiya M. Badamasi 4,067,369,214.72
47 Madunka Motorcycle Company Limited Abdullahi A. HaidoZainab A. Haido 3,561,115,889.09
48 Terminal Zero Obadina GbengaNiyi Oyedele 3,318,675,426.60
49 Ocean Deep Properties Limited Ray Nduka J. OkpuRay Ufoma Okpu 3,075,367,362.75
50 Claremount Management Limited Okobi Paul UcheAkpan Patrick 2,944,490,078,53
51 Ena-Bell Limited Ojo Osamuede BelleOjo Osamuede Enahoro 2,910,142,971.76
52 Omega Sunshine Ventures Limited Segun AgbetuyiTolulope O. Fadahunsi 2,763,085,587.14
53 Tuns Farm Nigeria Limited Olatunde Adekunle BadmusJoseph Zopy 2,738,973,788.06
54 Nakem Oil & Gas Company Limited Alebe Nathaniel UzeziAlebe 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 AbubakarYaozhang 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 TokosiTokosi TokumboFrederick Fasheun

Ralph Obiha

Awosika Kola

2,601,085,572.34
61 Likam Nigeria Limited Alhaji Ibrahim HamzaYashuwah Hamza 2,525,755,239.96
62 Safe Nigeria Limited Itohan Ogieva-OmosighoOsa Ogieva-Omosigho 2,369,063,554.93
63 Woksons International Limited Chief William OkiOke E. Cynthia 2,326,577,517.14
64 Travaux Investments Limited Lambo JumokeOgutuga KemiSheri William

Folarin Rotimi Williams

2,303,470,835.43
65 Omega Savings and Loans Agbetuyi SegunAdeniyi A. Adeuyiwa 2,283,749,521.09
66 Bellview Airlines Limited Kayode OdukoyaAVM Emmanuel Ombu (Rtd) 2,258,232,021.87
67 Sage Int. Nig. Limited Atikoro UyovbukerhiMaureen Uyovbukerhi 2,241,719,528.00
68 Van Vliet Trucks Limited Nol Van VlietAdetunmbi DayoKome Agodo 2,136,216,694.00
69 Baba Haruna Ibrahim Baba Hruna Ibrahim 2,076,544,891.02
70 Abbey Lincoln Limited Awoleye T. AbisodunFrancis T. Abisodun 2,065,489,600.50
71 Shell Staff West Shell Staff, represented by Ikponmwosa Ogiemuda 2,004,956,109.70
72 U.L.O. Consult, Ogbeogonogo Chief Uche Luke Okpuno 1,984,819,888.82
73 Variations Industries Limited Nwazulu Prince DennisNwazulu Protus 1,969,012,064.04
74 Tuns Holdings Limited Olatunde Adekunle BadmusJoseph Zopy 1,965,039,873.11
75 Shelter Development Bayero Usman Ja’afaruIbrahim Isa Wada 1,875,156,385.12
76 Lynq Communications Joe Obiora UdeagbalaSylvia Udeagbala 1,847,974,990.21
77 Petlib Envi-Chem Ser Ibiam EleanyaEEkwo Eteakamba Edem 1,706,415,936,54
78 Amsalco Ind. Limited Aminu SalehBashir 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 PatrickEkezie Chief Ralph 1,564,295,090.70
84 Alcomp Computers Limited Engineer Emeka Vitus EzenwanneGloria Uzoamaka Ezenwanne 1,559,711,000.55
85 Tina Stores Limited Matthew NmeziClementina Nmezi 1,558,068,328.38
86 Shemofeyo Ventures Limited Sheba A. Acholonu PatrickModupe Olorunfemi 1,549,586,200.57
87 Westoil Petroleum Services Limited Bidemi H. FahnHamdalat AjayiOmotayo Fahn 1,540,787,598.44
88 Ohzed Oil and Gas Company Limited Stella O. DikeEngr 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 YeowumaItelima Patricia Yeowuma 1,386,834,554.36
91 Ascot Fabricators and Constr. Limited Henry E. ImasekhaJoey Chuma Obue 1,374,274,319.42
92 I.C.M.G. Limited Mike Osime 1,339,507,291.77
93 Huf Engineering Nigeria Limited Enuha Hyacinth Uzu FelaEnuha Carol 1,288,402,095.13
94 Integral Petrochemicals Limited Oludare O. OlagokeAdeyemi 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 OlakunleFashina Mabayomije Omololu 1,230,763,959.94
97 Assorted Foods & Beverages Ifabiyi AdemolaIfabiyi EyitopeIfabiyi Toyin 1,185,194,335.36
98 Al-Fil Petroleum Company Limited Alao IdrisAlao Abdullatif 1,151,788,405.05
99 Primeview Investment and Property Gabriel OreneEsule 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 Engr. Sarki Labaran Engr. Sarki Labaran 471,402,281.70
105 Senator Usman Bayero Nafada Senator Usman Bayero Nafada 409,502,652.84

 

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Rivers Impeachment Brouhaha: Wike, Fubara ‘Run’ Abroad to Meet Tinubu

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By Eric Elezuo

The fragile peace that sprout out in Rivers State after the six months Emergency Rule declared by President Bola Tinubu, has suddenly collapsed as the two major gladiators; the Federal Capital Territory Minister, Nyesom Wike and Rivers State governor, Siminalayi Fubara, have returned to the war front.

This is as the 26 legislators loyal to the FCT minister have initiated an impeachment proceedings against the sitting governor, Fubara, accusing him of gross misconduct roped in 8-count charges.

The lawmakers during a session on Thursday, presided over by Speaker of the House, Martin Amaewhule, are accusing Fubara and his deputy, Dr. Ngozi Oduh, of gross misconduct.

Observers have said that the day’s proceedings bear the imprimatur of renewed hostilities between Fubara and his predecessor Nyesom Wike, minister of the Federal Capital Territory (FCT).

Rrcall that onn December 5, 2025, a horde of the Rivers assembly lawmakers led by the speaker, announced their defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), and days later, Fubara formalised his own switch from the PDP to the APC.

By the renewed hostilities, the two feuding personalities are seeking the support of the president, who it is believed can quench the rising tension, to either impeach the Chief Executive or survive the impeachment process.

A report monitored on Businessday Newspaper noted therfore, that President Bola Tinubu has once again intervened in the lingering political crisis between Fubara, and Wike.

According to the paper, quoting credible sources, the President summoned Wike for a crucial meeting abroad over the renewed face-off, which has reignited tensions in the oil-rich state, even as the president is still holidaying abroad.

The paper also The Punch, said a top presidential source disclosed on Saturday that the meeting is expected to be held in Dubai, United Arab Emirates (UAE), where Tinubu will be heading after a brief stay in France.

“The President must see the danger in what Wike is doing. I am aware he has summoned him to a meeting in Dubai. Barring any last-minute change, they are expected to meet abroad. Wike cannot impeach Fubara; the President will call him to order,” the source said.

The source added that Wike’s recent actions constituted an affront to the President and could potentially trigger unrest in the Niger Delta.

“If you say you want to sack the first Ijaw man to be governor, are you not sending the Ijaw people back to the creeks? That will have attendant effects on the economy, and the President will not allow that to happen,” he warned.

According to reports, tension heightened on Thursday after 27 members of the Rivers State House of Assembly, loyal to Wike, initiated fresh impeachment proceedings against Governor Fubara and his deputy, Prof. Ngozi Odu.

The impeachment notice, read by Majority Leader, Major Jack, during plenary presided over by Speaker Martins Amaewhule, contained seven allegations of gross misconduct against the governor.

These include the demolition of the Assembly complex, extra-budgetary spending, and refusal to comply with a Supreme Court ruling on legislative financial autonomy.

Deputy Governor Odu was accused of “reckless and unconstitutional spending of public funds” and “obstructing the Assembly from performing its duties.”

Speaker Amaewhule described the impeachment move as “good and in the interest of Rivers State,” accusing Fubara of undermining the Assembly by failing to present the 2026 budget.

The latest move mirrors the earlier impeachment crisis that led to the declaration of a state of emergency in Rivers in March 2025.

Despite Tinubu’s earlier mediation, the fragile peace between Wike and Fubara collapsed just months after the end of the six-month emergency rule.

Wike accused Fubara of reneging on their post-truce agreements, while Fubara fired subtle jabs at his predecessor.

The rift has since deepened, with Wike vowing that Fubara would not secure a second term, even after defecting to the All Progressives Congress (APC).

A senior aide to the President told reporters that Tinubu was aware of the escalating situation but declined to confirm any planned meeting with Wike.

“Only Wike or his aides can say if there is any scheduled meeting between him and the President,” the official said.

However, a senior APC official confirmed that national leaders of the party planned to meet Tinubu when he returns to Nigeria to discuss the growing discontent over Wike’s conduct.

“Some of our leaders believe Wike should have respected the President and the party because Fubara is now one of our governors,” the official said. “Even if he won’t get a second term, he should be allowed to complete his tenure.”

Meanwhile, Wike has been touring Rivers local councils, soliciting and accepting approvals from loyalists just as Fubara has asked for calm from members while they wait on the president.

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Atiku Will Not Withdraw for Anyone, ADC Ticket Must Be Earned in Open Contest – Paul Ibe

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Media Adviser to former Vice President Atiku Abubakar, Paul Ibe, has insisted that neither Atiku nor any other aspirant in the African Democratic Congress (ADC) opposition coalition will step aside, stressing that the party’s presidential ticket must be earned through a transparent and competitive process.

Speaking in an interview with ARISE News on Wednesday, Ibe said calls for Atiku to withdraw from the race undermine democratic principles and play into what he described as the ruling All Progressives Congress’ alleged plan to weaken opposition politics.

“Inclusiveness is the essence of democracy. The ADC remains committed to an open, transparent and competitive process for choosing its flag bearer. Any call for Atiku Abubakar to step aside is a betrayal of the Nigerian people,” he said.

Ibe accused the administration of President Bola Tinubu of interfering in the internal affairs of opposition parties, alleging an agenda to impose a one-party state on Nigeria.

“The Tinubu-led administration should be focused on governance — security, the economy, the welfare of Nigerians — but instead, they are dabbling into opposition politics. That is dangerous for democracy,” he said.

He dismissed claims that Atiku dominates the ADC, describing such narratives as “mischief.”

“Atiku Abubakar is just a member of the ADC. Yes, he is a leader, a former vice president, but he is not the only leader. There are leaders across the country, and he is working with them to build party structures,” Ibe said.

According to him, the party’s current priority is grassroots mobilisation, not ticket permutations.

“Talking about who gets the ticket now is putting the cart before the horse. A house without pillars will collapse. The ADC is building structures — ward, local government, state — and that is where the focus should be.”

On speculation about possible compromises with other aspirants such as Peter Obi and Rotimi Amaechi, Ibe said no discussion has taken place regarding relinquishing the presidential ticket.

“There has been no conversation whatsoever about stepping down for anyone. Their preoccupation is building a robust alternative platform capable of giving the APC a run for its money.”

Addressing reports of alliances involving figures outside the ADC, including Rabiu Kwankwaso and former President Olusegun Obasanjo, Ibe said such talks were external to the party.

“Rabiu Kwankwaso is not a member of the ADC. Whatever discussions are happening are outside the party. But the ADC is expanding, reaching out, and more people will come on board.”

He maintained that the ADC leadership has ruled out automatic tickets, insisting the process will not be dictated by external forces.

“The party has made it clear: no automatic tickets. The outcome of the primaries will be determined by party members, not outside influence.”

Responding to questions about Atiku’s age and repeated presidential bids, Ibe rejected suggestions that the former vice president should step aside to mentor successors.

“Age has nothing to do with leadership. Atiku has mentored governors, lawmakers and public servants over the years. He is patriotic, passionate, and deeply committed to Nigeria.”

He added:

“If you analyse his blood, you will find Nigeria in it. Nobody has been more prepared to govern than Atiku Abubakar.”

Ibe also alleged that Nigeria’s last two presidential elections were rigged, arguing that Atiku’s defeats were not a reflection of public trust.

“The elections of 2019 and 2023 were rigged. This is not about trust; it is about institutions failing Nigerians.”

On fears that opposition divisions could again hand victory to the ruling party in 2027, Ibe said opposition leaders had learned from past mistakes.

“This is not about personal ambition. It is a call to national duty. Leaders understand what is at stake and have learned from 2023.”

He further alleged attempts by the ruling party to infiltrate and destabilise the ADC.

“The Tinubu camp does not want an opposition. They are funding court cases and using state resources to undermine the ADC, but the party is taking steps to ensure they fail.”

However, Ibe said some details could not be disclosed publicly.

“There are things I cannot share on camera, but the leadership and stakeholders are fully aware.”

Asked what would happen if Atiku loses the ADC primary, Ibe said his principal would accept the outcome.

“Atiku Abubakar will submit himself to the process and support whoever emerges as the presidential candidate of the ADC.”

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2027: Dele Momodu Warns Against Introduction of ‘Aggression and Rambunctiousness’ into ADC

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Veteran Journalist and chieftain of the African Democratic Congress (ADC) Chief Dele Momodu, has cautioned the party against repeating internal conflicts similar to those experienced in the Peoples Democratic Party (PDP), stressing that some groups are introducing ‘aggression and rambunctiousness into a fledgling cooperation’.

In a post on X, Momodu recalled the 2025 gathering in Abuja, where opposition parties coalesced around ADC to challenge the ruling All Progressives Congress (APC).

He wrote: “I was most elated hearing these beautiful words. I was happy to see an Army veteran and General David Mark as Chairman, knowing he would brook no nonsense. But in recent time, some groups have introduced aggression and rambunctiousness into a fledgling cooperation. How can a coalition work if some groups insist they must produce the top ticket by donation and coronation, without election or persuasion?”

Momodu warned that ADC must enforce discipline before internal disagreements escalate, citing how former Governor of Rivers State, Nyesom Wike, consolidated power within the PDP.

“ADC should be a party of love and not a Fuji house of commotion,” he said.

The warning coincides with renewed clarifications from the Obidient Movement Worldwide, which has emphasised that former Anambra State Governor, Peter Obi, who recently defected from the Labour Party to the ADC, will not serve as a vice-presidential candidate to any politician, asserting that its support is exclusively for his emergence as Nigeria’s president in 2027.

Also, Obedient Movement’s National Coordinator, Dr Tanko Yunusa, speaking on Eagle 102.5 FM’s Frontline programme, dismissed speculation that Obi’s alignment with ADC signals deference to former Vice President Atiku Abubakar or other political figures.

“Everybody that was in that particular coalition contributed to that particular coalition with their hard-earned money. Nobody owns that political party, please, and please, don’t get it wrong,” Yunusa said.

He described Obi as a candidate capable of delivering what the Obidient Movement calls a “moral solution” to Nigeria’s leadership challenges, highlighting policy priorities including economic discipline, national security, and sustainable fuel subsidies. Yunusa also outlined Obi’s approach to foreign relations, saying, “The people of Nigeria are the ones that Mr Peter Obi will interface with as a gentleman. And then he will also link up with the international community to ensure that they’ve got that particular respect they desire.”

Addressing criticisms over Obi’s political mobility, Yunusa said structural challenges within the Labour Party necessitated his defection to ADC. “Forces in power deliberately undermined the party’s functionality. If your house is being deliberately set on fire, would you remain inside it? There was a calculated attempt to destroy what was being built,” he said.

Yunusa said that Obi’s decision to join ADC followed consultations with a broad coalition of groups seeking national reform. “Ordinarily, Peter Obi would flow with the people who are calling for him,” he said, noting that young Nigerians involved in the process are “the deciders” of his political trajectory.

Responding to questions on a potential vice-presidential role, Yunusa reaffirmed, “Politics has no permanent enemies, only permanent interests. The interest here is good governance, and Peter Obi represents that.”
He also reiterated Obi’s one-term pledge, saying, “If elected in 2027, Peter Obi would complete the remaining four years for the South and return power to the North. This demonstrates credibility and national unity.”

The Obidient Movement has committed to following a transparent ADC presidential primary and stated it will act collectively with Obi should the process be compromised, signalling continued vigilance over party discipline and coalition cohesion.

As Nigeria approaches the 2027 elections, Obi’s positioning within ADC, alongside warnings from figures like Momodu, underscores the ongoing tension between coalition building, party discipline, and the ambitions of influential political actors in the opposition landscape.

Additional info: The Guardian 

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