Headline
Ifeanyi Ubah, Jimoh Ibrahim, Wale Babalakin Top AMCON’s List of Debtors Owning N906bn (Full List)
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 |
LIB
Headline
Prerogative of Mercy: Osun Gov Pardons 53 Convicts
The Governor of Osun State, Ademola Adeleke, has exercise his powers of prerogative of mercy, pardoning 53 convicted inmates, including a young man sentenced to death for ‘stealing fowl’.
The governor made this known via a tweet on his official X handle with the title, PREROGATIVE OF MERCY EXTENDED TO 53 CONVICTS.
The governor noted as follows:
In line with the recommendations of the State Advisory Council on Prerogative of Mercy and in exercise of the power conferred on me by paragraph (a), (c) and (d) of subsection (i) of section 212 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), I am pleased to extend my grace and mercy unto 53 convicts serving various convictions within the Nigerian Correctional Service.
In the case of inmates convicted of simple offences, I have decided in accordance with the said recommendation to remit and forgive the remainder of the said sentences of the following 30 (thirty ) inmates in whole.
1. OLUBO SUNDAY
2. ISAH UMAR BIODUN
3. FAWAS KAREEM
4. OMIRIN TEMITAYO
5. OLARENWAJU AYOMIDE
6. DARE SUNDAY
7. OLADAPO TUNDE
8. GANIYU SAHEED
9. ADEWUMI SODIQ
10. ADEBAYO ADEOYE
KEHINDE
11. LASIS KAZEEM
12. DAUDA OJO (59 YEARS)
13. ISMAILA RAJI
14. OSENI MICHEAL
15. AJAYI KOREDE
16. ABIONA NURUDEEN
17. OSHI SAMUEL
18. SHEU YUSUF OLATUNJI
19. OJO AANU
20. MUSTAPHA KEHINDE
21. LASIS ABEEB
22. ALEXANDRA IORLAHA
23. OJO TAIWO
24. AZEEZ MUJEEB
25. AKINYEMI DAVID
26. ADEOSUN ADEKUNLE
27. OLAOBAJU SAMUEL
28. ADURA ADEFEMI
29. PAUL BASIL
30. KUNLE DAVID
I have also decided in accordance with the said recommendation to grant outright pardon to the following 12 (Twelve) inmates convicted of simple offences.
1. OLABOMIJI NURUDEEN
2. MUSTAPHA ISAH
3. OLALEKAN ABDULLAHI
4. AYOMIDE OLOJEDE
5. AKEEM RAPHAEL
6. ADEYEMI ABIODUN
7. OLADIPUPO SEGUN
8. OMISAKIN SUNDAY
9. ADEMOLA ADIO
10. TUNDE OLAPADE
11. LATE CHIEF WOLE OLA
RUFUS OJO
12. OMOLOYE OLAJIDE
OLAYEMI
In the case of the following 6 (Six) Convicts sentenced to death, I have approved the commutation of their sentence from death to outright release while OJEKUNLE TIMOTHY has his sentence commuted from death sentence to 15 (Fifteen) years imprisonment having spent at least 10 (ten) years in custody.
1 OLUWAFEMI FAGBEMI
2 BEWAJI SUNDAY
3. AMEHIN GEORGE
4. AYOMIDE ARULOGUN
5. TAIWO OLUWATOBI STEPHEN
6. ABUBAKAR ABDULAZEEZ
The following 4 (Four) Convicts also have their sentences commuted from death sentence to outright pardon.
1. SUNDAY MORAKINYO
2. SEGUN OLOWOOKERE
3. TUNDE OLAPADE
4. DEMOLA ODEYEMI
Headline
Amnesty Demands Probe of Military Airstrike in Sokoto Communities
Amnesty International (AI) has urged the Federal government to conduct a comprehensive, independent, and impartial investigation into a military airstrike that killed at least 10 people in two communities in Silame Local Government Area of Sokoto State.
The human rights organization called on President Bola Tinubu to promptly set up an independent inquiry into the tragic incident.
Amnesty emphasized that if investigations point to criminal responsibility, the authorities must ensure that those indicted are prosecuted in fair and transparent trials, adhering to international human rights standards.
Amnesty International criticized the Nigerian military for what it described as a consistent pattern of neglect in investigating airstrikes and other violent incidents that have repeatedly endangered civilian populations.
The organization noted that this lack of accountability has fostered a climate of fear among villagers, who live under the constant threat of recurring attacks.
“These incidents have created a vicious cycle of violence and insecurity for communities, and this must not be allowed to continue,” the statement said.
Amnesty also highlighted the need for justice and effective remedies for the victims and their families, including compensation and psychological support.
They stressed that the government’s response must go beyond investigations to address the systemic failures that enable such incidents.
The call comes amid growing concerns about civilian casualties resulting from military operations in Nigeria, raising questions about the rules of engagement and the transparency of the country’s security forces.
Observers note that accountability for military actions is critical to restoring public trust and ensuring the protection of human rights.
Amnesty’s statement underscores the urgency of addressing these systemic issues to prevent further tragedies and uphold the fundamental rights of affected communities.
The Federal government has yet to respond to Amnesty International’s demands.
Headline
The Travails of Dele Farotimi – Out But Gagged –
Farotimi, on July 2, 2024, released a 116-page book titled Nigeria and Its Criminal Justice System, setting the stage for a clash of interest resulting in petitions, persecutions, prosecutions and gagging of privileges and rights.
Peter Obi, the former presidential candidate of the Labour Party at the 2023 ele tions, and a political ally of Farotimi, had volunteered to assist in helping embattled lawyer meet his bail conditions.
“He was only arrested after all attempts to make him come and explain himself proved abortive. He has been investigated and the case is already in court,” the Command’s Public Relations Officer, Sunday Abutu, explained.
But Farotimi’s lawyer, Temitope Temokun, countered the Police statement, saying his client was never invited by the Command
“He was invited by Zone 2 on two occasions, and he went there.
“But why would you be inviting somebody to Ekiti from Lagos on something that happened in Lagos? However, he was never invited, and if he had been invited, as a lawyer, I would advise him not to go.”
The situation erupted a discourse on various fora, further questioning the the credibility of the already discredited judiciary before some Nigerians, and further popularizing the said contentious book written by Farotimi.
The lawyer reasoned that, “The book was published in Lagos. The defendant has an office in Lagos. And under the Nigerian Criminal Justice System, the law is not that you have to go to where the defendant is, to go and try the accused. You have to try the accused where the act was committed, except he had escaped justice in another state.
“So if he didn’t do that, you cannot abduct him to that state that he didn’t escape to.”
However, on appearance at The Chief Magistrates Court in the Ado Ekiti Division, days later, he was ordered to be remanded in the state’s correctional centre pending consideration of his bail application.
In the fresh charge dated and filed December 6, Farotimi was alleged to have violated the Cybercrimes laws, when he on August 28, 2024 knowingly and intentionally transmitted a false communication in an online interview on Mic On Podcast by Seun Okinbaloye on his YouTube Channel in respect of a book he authored and published with the titled: ‘Nigeria and its Criminal Justice System’.
According to the charge, Farotimi was alleged to have in the said broadcast interview claimed that, “Aare Afe Babalola corrupted the judiciary”, a claim which he knew to be false information and made for the purpose of causing breakdown of law and order thereby committed an offence contrary to and punishable under Section 24(1) (b) of Cybercrimes (Prohibition, Prevention, etc) Act 2015 as amended.
In count two, the defendant was said to have made the allegation “with the intention of bullying and harassing the named persons thereby committed an offence contrary to and punishable under Section 24 (a) of Cybercrimes (Prohibition, Prevention, etc) Act 2015 as amended.”
In another charge, Farotimi was alleged to have on December 2, 2024, acknowledged that there was a charge preferred before a court in Ekiti State against him at the instance of Chief Afe Babalola.
“This preferred, hidden from view and the court had purportedly demanded my presence multiple times and failed to appear before the court and this Court had then proceeded to issue bench warrant for my arrest. This is classic Afe Babalola, I detailed his corruptive influence in my book titled: ‘Nigeria and its Criminal Justice System’ which you know to contain false information for the purpose of causing breakdown of law and order thereby committed an offence contrary to and punishable under Section 24(1) (b) of Cybercrimes (Prohibition, Prevention, etc) Act 2015 as amended,” the charge read in part.
In count four, Farotimi was said to have described the charge in his online broadcast as “fraudulently preferred, hidden from view and the court had purportedly demanded my presence multiple times and I failed to appear before the court and this court had then proceeded to issue bench warrant for my arrest.”
The police further accused the defendant of bullying and harassing Babalola and other named persons when through his online broadcast alleged that after he sued Babalola for libel, “the machines of corruption went into overdrive and a case that should never have been killed at the preliminary stage was killed”.
Count 10 reads: That you Dele Farotimi on December 2, 2024 intentionally sent a message in the course of a press conference held on Online on your YouTube Channel, where you stated that: “I told the truth of his corruption of the society” which you know to contain false information for the purpose of causing breakdown of law and order thereby committed an offence Contrary to and punishable under Section 24(1) (b) of Cybercrimes (Prohibition, Prevention, etc) Act 2015 as amended.
On December 10, his case was further moved to December 20 when he was granted N30 million bail. The bail conditions were completed on December 24 when he was released.
Though Farotimi is released, his freedom, which came at a cost, is not completely guaranteed as he will remain a regular visitor to courts until the final determination, which is likely to drag to the Supreme Court.
The release of the book was accompanied by a public dispute between Dele Farotimi and Afe Babalola, In a controversial development a court in Nigeria issued an injunction halting the further production, distribution, and sale of Nigeria and Its Criminal Justice System. The decision came following a lawsuit filed by Babalola, who alleged that certain portions of the book contained defamatory statements and misrepresentations about individuals and institutions within the Nigerian criminal justice system.
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