REVEALED: Here are the names of AMCON debtors

The Asset Management Company of Nigeria (AMCON) has released the names of its top 105 delinquent debtors. According to AMCON, all avenues provided by the corporation for the debtors to propose acceptable resolution terms have failed.

Tops on the list include:

• Ifeanyi Ubah’s Capital Oil & Gas Industries Limited which currently owes ₦115 billion,
• NICON Investment Ltd which is owned by Jimoh Ibrahim with a debt of ₦59.5 billion
• Bi-Courtney Limited owned by Dr.Wale Babalakin (SAN) with a debt profile of ₦40.7 billion.
• Cross-River State-owned Tinapa Business Resort with a debt profile of ₦36 billion

Below are names of the debtors, their promoters and debt profile:

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AMCON was established in 2010 to buy non-performing loans and rescue lenders after the industry was threatened with collapse. It was created to be a key stabilising and re-vitalising tool aimed at reviving the financial system by efficiently resolving the non-performing loan assets of banks in the country. AMCON is also billed to wound down by 2020, according to the Act establishing it.