Unity Bank Plc has made public the
names of 111 customers with bad
loans who have failed to come
forward to fulfill their obligations to
the bank.

In a public notice on Sunday, the bank
said that it had earlier set a two-week
grace period to such customers, from
October 8 to October 22, 2014, during
which the affected customers were to
come forward to either make good
their obligations or to negotiate a re-
structuring of the loans.

According to the bank, this grace
period and the warning of the
consequences of not responding to
the bank’s call within the period was
widely publicised using the mass
media.

The bank listed Bullet International
Nigeria Limited with outstanding
balance of N9.322 billion as the
number-one debtor on the list. Some
others are Kabo Air Limited with
outstanding balance of N7.917 billion,
LOH & OR Construction Nigeria
Limited with N5.797 billion and
Vegefresh Company Limited with
N2.716 billion.

Some others are HFZ Transport
Services Limited with outstanding
balance of N2.555 billion, Total Steel
Limited with N1.421 billion, Reagan
Cement Company Limited with N1.238
billion, Well Being Products Nigeria
Limited with N1.208 billion, Voix
Networks Limited N1.147 billion,
Plywood Chemicals and Accessories
Limited with an outstanding balance
of N995 million, Ekiti Kete Mass
Transit N929 million and Hydras
Classic Hotel.

“The Immediate fallout of publishing
their names includes an industry-
blacklisting of such debtors from
further banking transactions until they
attend to the bad debts,” the bank
said.
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