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Ifeanyi Ubah, Jimoh Ibrahim Top List of Nigerians Biggest Debtors

Published

6 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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Sell Petrol at N770 Per Litre, IPMAN Tells Dangote

Published

1 week ago

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June 10, 2025

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Dangote Refinery to sell premium motor spirit (petrol) at N770 per litre.

The spokesperson of IPMAN, Chinedu Ukadike, said this on Monday.

Ukadike was reacting to comments by businessman, Aliko Dangote, who said Nigeria’s petrol is less expensive, as his refinery ex-depot price stood at N825 per litre.

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According to him, the exchange rate is a major determinant in PMS price in Nigeria, noting a drop in exchange from N1,600 to around N1,200 would bring down the price to below N750 per litre.

“On my part, I don’t feel it’s cheap. I think the petrol will go as low as around N770. That’s my own permutation. I’m not an expert in oil refining. But with what I have gathered — the refinery production costs and the landing at the depot cost, petrol should not be more than N780 or N750, in line with the dollar rate. Now the rate is around N1,600 per dollar; should it appreciate further, PMS from Dangote Refinery should be N750 per litre.

“So, if the dollar can come down to N1,200, I want to tell you that the price of PMS at the pumps will go below N750,” he added.

Dangote, barely a week ago, said Nigeria’s petrol price is 55 percent below the West African average.

He reiterated recently that Nigeria’s petrol price is not expensive.

Nigerians currently buy petrol between N875 and N910 in Lagos and Abuja.

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UBA Introduces *919# Advance Top-Up Feature for Instant Access to Customers

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a new feature called Advance Top-Up on its USSD banking platform *919#, which is designed to provide instant access to airtime and data for its customers especially when they are out of call credit or disconnected from the internet.

The new feature, which can be accessed through *919*9#, was unveiled at the UBA head office in Marina on Thursday, allowing customers to borrow airtime or data directly from their mobile devices, offering a fast, dependable solution.

UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, who spoke during the official launch, described the feature as a timely addition to the bank’s digital offerings and a testament to its customer-first approach.

“At UBA, we are constantly looking for ways to make banking and everyday services more accessible for our customers. With the launch of Advance Top-Up on our USSD platform, *919*9#, we are giving our customers the power to stay connected without interruption, regardless of time, location, or airtime balance,” Shamsideen said.

UBA’s Advance Top-Up which is now live on *919*9#, joins a wide range of services on the platform, which include airtime and data purchases, money transfers to UBA and other banks, account balance checks, card blocking and freezing, online transaction controls, bill payments, and more.
Fashola emphasised the simplicity and convenience of the solution, adding that “You don’t need to download an app or visit a data centre. Just dial *919*9#, follow the prompt, and you’re immediately connected. It’s simple, fast, and reliable.”
The Bank’s Group Head, Marketing and Corporate Communication, Alero Ladipo, added that the feature was developed based on real feedback from customers and their evolving needs.

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United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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UBA Emerges Strongest Nigerian Brand in 2025

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United Bank for Africa (UBA) has been named the strongest Nigerian brand in the 2025 Brand Finance Banking 500 report, making a remarkable leap from its 9th position in 2024.

With a brand strength score of 92.4 out of 100 and a coveted AAA+ rating, UBA now leads the pack among Nigerian brands, reaffirming its status as a trusted and innovative banking institution.

Brand Finance, a globally recognized independent brand valuation consultancy, highlighted UBA’s outstanding performance across key brand metrics, including familiarity, preference, and consideration within its home market. This performance contributed to UBA’s climb in the rankings, not only as Nigeria’s strongest brand but also as the 13th strongest banking brand globally among 500 evaluated.

“This year’s ranking is no coincidence; it is the result of deliberate planning, strategic investments, and an unwavering focus on customer satisfaction,” said Alero Ladipo, Group Head, Marketing and Corporate Communications at UBA. “We remain committed to adapting to the evolving landscape while consistently delivering exceptional value.”

UBA’s performance was bolstered by its strong customer loyalty and trust. It scored particularly high in price acceptance, outperforming other leading African banks such as Capitec (South Africa) and Equity Bank (Kenya). These scores reflect UBA’s consistent value delivery and competitive pricing, earning it a solid reputation across its operating regions.

The bank’s rise is also attributed to its sustained investment in digital banking, innovation, and customer-centric technologies. Over the past year, UBA has prioritized digital transformation to enhance user experience and deepen customer engagement—an approach that aligns with current trends in Africa’s rapidly evolving financial services landscape.

Operating in 20 African countries and with offices in the United Kingdom, the United States, France, and the United Arab Emirates, UBA serves more than 45 million customers worldwide. With a workforce of 25,000, it remains one of the largest employers in the African financial sector.

UBA’s strong performance in the Brand Finance report underscores a broader strategy focused on brand equity, innovation, and customer satisfaction, positioning it as a leader in shaping the future of banking in Africa and beyond.

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