Tony Elumelu, chairman of UBA took N41.5b loan @15% interest rate and defaulted in repayment – CBN

There are still many of them roaming freely in an opulence lifestyle. If the CBN published all the names of defaulters,
there are about 20 of them owing over N5 trillion Naira.

The past government set up a committee through AMCON to get the money from them. But just like an elite game, Nigerians did not hear much of what happened.

These men are super elites and above the law, most of the debts are now classified as bad debts. But they are sitting on riches and even contesting elections and some are in the National Assembly, making laws for us.

These people are responsible for where we are at the moment. Some tonnes and tonnes of money deposited in the banks have disappeared without trace. Some debts have been declared doubtful because the effort to retrieve them have not been successful. Whereas, those who took the loans from these banks may not have supported it with collateral, getting their collateral to go for it is not possible because there’s nothing on ground to auction. This is the seriousness of the huge financial crime they’ve inflicted on Nigeria.

President Tinubu must have to be serious about revitalising the banking industry. All those who had contributed to this parlour state of our economy must be brought to book. They must cough what they have swallowed. Nigeria will only survive if we are determined to take difficult decisions on critical matters bothering on the economic survival of our great country

Here are the debtors:

Promoter(s) Current Exposure
1 Capital Oil & Gas Industries Limited Ifeanyi Ubah N115,952,152,265.92

2 NICON Investments Limited Jimoh Ibrahim N59,544,633,980.31

3 Bi-Courtney Limited (MMA2) Wale Babalakin (SAN) N40,798,422,374.02

4 Josepdam & Sons Limited Late Mrs. Josephine Damilola KuteyiSaheed KuteyiGaniyu Kuteyi N39,056,674,951.55

5 Tinapa Business Resort Cross River State Government N36,006,319,844.68

6 Home Trust Savings Chukwukadibia Ajaegbu, Funmi Ademosun N 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
N29,844,500,896.77

8 Roygate Properties Limited Wale Babalakin (SAN) Agumadu John Alarape Olabode
Okhaleke Ndudi
N28,137,176,532.32

9 Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC) Shell Staff, represented by Ikponmwosa Ogiemuda N26,474,541,188.17

10 Anyiam Osigwe Limited Anyiam-Osigwe Dorothy Chinyere N20,523,322,350.29

11 Platinum Capital Obire Richard Francis Atuche N20,378,820,507.19

12 Flotsome Investment Limited Oboden IbruTejiro Ibru N20,218,703,550.96

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
N18,919,109,352.85

16 Hosanna Properties Limited Anionye ChikaObi Ike C.
©️Otunba Mark Adesanya