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Emperoh (m)
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CBN Releases Names of Non-performing Debtors
In what is considered an effort to diffuse the blame on the liquidity challenge in the banking sector, the Central Bank of Nigeria (CBN) yesterday released the names of debtors – mostly shareholders/directors – who secured loans totalling N747 billion from the five banks whose executives were sacked last Friday.
A breakdown of the loans, which are classified as non-performing, is as follows: Oceanic Bank Plc, N278.204 billion or 37 per cent; Intercontinental Bank Plc, N210 .903 billion or 28 per cent; Afribank Nigeria Plc, N141.856 billion or 19 per cent; Union Bank of Nigeria Plc, N73.582 billion or 9.8 per cent; and FinBank Plc, N42.445 billion or 5.6 per cent.
The two biggest debtors to Intercontinental Bank are Ascot Offshore Nigeria Limited through which Henry Imasekha along with three others secured N44.67 billion and Rockson Engineering Limited through which Engineer J.1. Arumemi-Ikhide and his wife secured N36.989 billion.
Oceanic Bank on the other hand, has Notore Chemical Industries Limited, which borrowed N32.392 billion and Rahamaniyya Global Resources through which Abdul Rahaman Musa Bashir got N28.598 billion.
The two principal debtors to Union Bank are Transnational Corp Plc, in which the Director-General of the Nigeria Stock Exchange (NSE), Dr. Ndi Okereke-Onyiuke is a director/major shareholder, which borrowed N30.863 billion on behalf of the company and MTS First Wireless Limited through which Chief Lulu Briggs secured N9.849 billion.
Afribank has Kolvey Company Limited, which borrowed N16.5 billion and Rehoboth Assets Limited through which five of the Ajaegbu families got N28.598 billion.
The two key debtors to FinBank are Aquitane Oil and Gas which borrowed N3.656 billion and Falcon Securities through which it’s Managing Director, Peter Ololo, who is currently cooling off with the Economic and Financial Crimes Commission (EFCC) in Abuja secured N3.49 billion.For full details, go to the below lnk to CBN websitehttp://www.cenbank.org/Out/publications/pressRelease/GOV/2009/ADVERTORIAL2.pdf
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