List of Loan Defaulters- AMCON sends the National Assembly a new list of the top 1000 loan defaulters in Nigeria.
As part of its plan to step up its debt recovery efforts, the Asset Management Corporation of Nigeria revealed towards the end of last year, 2021, however, that it had sent the National Assembly a new list of its top 1,000 loan defaulters in Nigeria for 2021/2022.
Total Figures for Loans Defaulters
The National Assembly receives a new list from AMCON of the top 1000 loan defaulters in Nigeria. In the meantime, the Asset Management Corporation of Nigeria said towards the end of last year, 2021.
Also, as part of its strategy to step up its debt collection drive, however, it sent the National Assembly a new list of its top 1,000 list of loan defaulters in Nigeria for 2021/2022.
However, The 1,000 debtors (credit defaulters in Nigeria), according to the source, are in charge of the significant debts. On the list are many well-known Nigerians from various economic areas.
Functions of AMCON
The Banks and other Financial Institutions Act 2020, gives AMCON the authority to, among other things, take possession of, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for Eligible Bank Assets, and other matters, also provide access to the Special Tribunal formed by the AMCON Act.
Committee Set Up By House of Rep.
According to reports, Mr. Victor Nwokolo, the chairman of the House of Representatives Committee on Banking and Currency, however, requested the list of loan defaulters in Nigeria from Mr. Ahmed Kuru, the corporation’s managing director/chief executive officer, so that the National Assembly would be aware of everyone holding the country hostage.
Furthermore, He claimed that doing so would provide the parliamentarians the opportunity to consult with the appropriate Federal Government agencies about how to proceed with the debtors in order, subsequently, to guarantee that AMCON’s mandate is carried out in the long-term best interests of the Nigerian economy.
He, also, claims that the National Assembly is thinking about taking harsh action against those whose names appeared on the list of the top 1,000 AMCON debtors.
The corporation’s enormous unpaid debt will be recovered also thanks to Buhari’s signing of the modified AMCON Act into law, he said, and the Federal Government’s goal of establishing AMCON in 2010 would be achieved.
Kuru, also, introduced the list and added, “AMCON solicits the sustained cooperation of this outstanding committee to enable AMCON to succeed in its national call to duty.”
The judicial system must be urged to abide by the legal rules requiring it to expedite cases it is assigned, issue certificates of judgment on assets over which a corporation has no security interest, and collect judgment sum deposits from debtors before they can appeal any judgments.
List Of Nigeria’s Top 20 Loan Defaulters
According to a report released by the Assets Management Corporation of Nigeria (AMCON) in October 2019, the top 20 loan defaulters in Nigeria are listed below.
Public sectors
- The company Capital Oil & Gas Industries Limited is focused on oil exploration and production. Ifeanyi Ubah is worth 115,952,152,265.92
- NICON Investments Limited is a private firm with headquarters in the UK. 59,544,633,980. 31 Jimoh Ibrahim
- Wale Babalakin (SAN)40,798,422,374.02 Bi-Courtney Limited (MMA2),
- Josepdam & Sons Limited (Josepdam & Sons) 39,056,674,951.55
- Government of Cross River 36,006,319,844.68 Tinapa Business Resort
- Savings in the Home Trust Chukwukadibia Ajaegbu 30,626,243,344.71
- Savings in the Home Trust Chukwukadibia Ajaegbu 30,626,243,344.71 Geometric Power Limited Nnaji Okechukwu, Dozie Chijioke, Akpe Austine, Prof. Barth NnajiNnaji, UBA Trustees Limited, Kunoch Limited, Diamond Capital & Financial Market Limited 29,844,500,896.7
- Roygate Properties Limited Agumadu Wale Babalakin (SAN) 28,137,176,532.32
Some Private Sectors
- Shell Staff, represented by Ikponmwosa Ogiemuda Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC)John Alarape Olabode Okhaleke Ndudi 26,474,541,188.17
- Anyiam Osigwe Limited Anyiam-Osigwe Dorothy Chinyere20,523,322,350.29
- 20.378,820,507.19 Platinum CapitalObire: RichardFrancis Atuche
- Oboden IbruTejiro Ibru: Flotsome Investment Limited 20,218,703,550.96
- Late Chief IdisiMargaret Idisi 20,207,979,803.22 Lonestar Drilling
- 19,576,962,565.35 Petrologistics Limited: Ugoji Egbujo
- H.E. Chimaroke Nnamami 18,919,109,352.85: Lorna Global Resources
- 18,059,895,396.27 Hosanna Properties Limited: Anionye ChikaObi Ike
- The Afrijet Airlines Company : Willam, Inoelle 13 122 022 439.57 BarryCarr Collin
- Limited Petroleum Brokers: Awopuolagha Wilcox 13,076,314,937.26
- Island Autos & Nacoil; Hotel De Island; Kasmal Properties; and Kashamu Prince Buruji 13,015,595,907.67
The government could take further action to collect the debts.
Furthermore, The recent move by the Asset Management Corporation of Nigeria (AMCON) to notify the National Assembly of the names of 1000 bad debtors is positive on the surface.
But, however, it’s also a recognition that all efforts to collect these enormous debts have fallen short. Victor Nwokolo, the head of the House of Representatives Committee on Banking and Currency, claims that the National Assembly’s intervention is intended to develop strategies for collecting these debts.
This is done to prevent a scenario where a small number of people continue to keep the nation hostage.
What AMCON Stand On The Defaulters
In accordance with a decision from the Central Bank of Nigeria, AMCON has committed to publicizing the names of banks that have defaulted on loans if the debt is not repaid.
The management of AMCON issued a statement on Monday warning that if the loans were not repaid it would take legal action to recover the arrears and cautioning borrowers not to expect it would forgive their debt.
Some Common Questions Regarding Loan Defaulters In Nigeria
Furthermore, below are some questions you might want to ask or know in regard to the List of Loan Defaulters and some penalties.
What Occurs in Nigeria If a Bank Loan Is Not Repaid?
Subsequently, If you are among the top List of Loan Defaulters in Nigeria. AMCOM, the Asset Management Corporation of Nigeria, may publish your name in a national publication. However, This comes after the bank has warned you and requested that you pay back your debt.
In Nigeria, Can You Go to Jail for Not Repaying a Loan?
Also, If you fail on a loan in Nigeria, you might not go to jail right away. However, If you are charged, but you can be publicly humiliated and have your identity printed in a newspaper.
Can Loan App Block my BVN?
However, Your BVN will not be impacted in Nigeria if you fall behind on a loan. However, they can declare that you haven’t paid off your outstanding loan and disclose your BVN, other personal information, and contact information that they have collected from their database.
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