Kanu, Ihenacho’s Firms Among AMCON N1.146 Trillion Debtors | Independent Newspapers Limited
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Kanu, Ihenacho’s Firms Among AMCON N1.146 Trillion Debtors

Posted: Feb 8, 2016 at 7:04 pm   /   by   /   comments (0)
 By Emmanuel Udom & Sunday Olaniyan, Lagos

(With Agency Report)
Asset Management Corporation of Nigeria (AMCON) has said that Rangk Limited, owned by Captain Ndubuisi Kanu, former governor of Lagos State and Integrated Oil and Gas Limited, owned by Capt Emmanuel Iheanacho, former minister of Interior, are among the 217 firms with outstanding debts of N1.146trillion.
Managing Director of AMCON, Ahmed Kuru, said the corporation had gone to the Corporate Affairs Commission (CAC) to get the accurate names of the directors to be published in order to avoid litigation.

According to him in the last three months, the corporation has been calling on its debtors to turn up to discuss their repayment plans, but a lot of them failed to respond, adding that “those that are avoiding us will have their names published because things have changed.”
He said AMCON paid for the assets based on their marketability, adding: “For some assets, we paid 80 per cent, some 90 per cent, some 100 per cent. The ones we paid 80 – 100 per cent means that there was something tangible for us to hold on to.
“Now, if the business cannot thrive anymore, come and surrender the asset to us. We either sell them or give it to some other parties interested in running the businesses.”
Kuru pointed out that a major problem faced by the corporation, in terms of loan repayments over the years, was with those he described as “the big guys”.
The firms, their directors, and individual debtors, which owe AMCON N1 billion and above would be barred from taking loans from any commercial bank in the country, in line with a Central Bank of Nigeria (CBN) policy.
The corporation revealed this the first batch of lists of outstanding obligors was made public because the affected companies directors failed to visit the corporation for the resolution of their debts.

Also, the list showed that integrated Oil & Gas, which is indebted to the corporation to the tune of N4.62billion, has Capt. Emmanuel Iheanacho; Iheanacho Anthony; Iheanacho Maxwell and Iheanacho Lucy as its director.

While AMCON put the outstanding debt of Rangk limited asN4.50billion, it listed Kanu Godwin Ndubuisi; Onuoha Okwukaire; Ejemba Obinali Dennis; Ndukwe Okorie Agwu; Abulu Joseph Onehibhagbe.
Others are Haywood Willie; Osuola Dickson Ifeanyichukwu; Onoh Anthony; Amiengheme Philip Osediame and Muotoh Donatus Uzoh as directors of the company.
Other firms on the debtor list include Tanzila Petroluem Limited – N49.2 billion; Home Trust Savings – N25.749 billion; Suru Worldwide Ventures – N24.41 billion; Roygate Properties – N23.261 billion; Ziklagsis Network Limited – N20.334 billion; Lexcap Partners – N18 billion.

Similarly, AMCON also listed Anyiam Osigwe Limited – N17.247 billion; Iorna Global Resources Limited – N15.873 billion.
Nigeria Capital Oil and Gas Industries Limited, Seawolf, the defunct Bellview Airlines, Resort International Limited, Timbuktu Media (owner of the defunct Next Newspaper), former Chairman of the National Population Commission (NPC), Chief Festus Odimegwu; Hosanna Properties Limited – N14.983 billion; Unudike Enterprises Limited – N14.16 billion; Bulk Pack Services Limited – N13.493 billion; Global Haulage Resources Limited – N11.472 billion;
Others are: Taka Continental Limited -N11.378 billion; JAG Global Resources Limited – N11.108 billion; Felshade International Nigeria – N10.979 billion; AFRIJET Airlines Limited – N10.886 billion; Hotel De Island (belonging to Sentor Buruji Kashamu and family) – N10.797 billion; and Petroleum Brokers Limited – N10.681 billion.