Top 20 Loan Defaulters In Nigeria 2022

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Top 20 Loan Defaulters In Nigeria 2022. The number one review website for lending, loan apps and financial tips, digital banks, and other traditional banks, we have released a list of the top loan defaulters in Nigeria like we promised you guys.

Vice President Yemi Osinbajo established a task team in 2019 with the mission of devising a method to recover the N5 trillion due to the Assets Management Corporation of Nigeria (AMCON) by Nigeria’s top loan defaulters.

The Economic and Financial Crimes Commission (EFCC), the Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC), and the Ministry of Justice are the institutions entrusted with pursuing loan defaulters in Nigeria.

The top 20 loan defaulters in Nigeria, according to AMCON, owing 67 percent of the N5 trillion debt.

According to Vice President Yemi Osinbajo, the federal government has established a task group to monitor the top 20 debtors on the Asset Management Corporation of Nigeria’s list (AMCON).

The federal government has stated that it has redoubled its efforts to collect the N5 trillion debt due by loan defaulters and chronic debtors.

Table of Contents

List of Top 20 Loan Defaulters In Nigeria

According to a list released by the Assets Management Corporation of Nigeria (AMCON) in October 2019, below are AMCON’s list of top 20 loan defaulters in Nigeria.

Capital Oil & Gas Industries Limited Ifeanyi Ubah 115,952,152,265.92
NICON Investments Limited Jimoh Ibrahim 59,544,633,980.31
Bi-Courtney Limited (MMA2)Wale Babalakin (SAN)40,798,422,374.02
Josepdam & Sons Limited Late Mrs. Josephine, Damilola Kuteyi, Saheed KuteyiGaniyu Kuteyi 39,056,674,951.55
Tinapa Business Resort Cross River State Government 36,006,319,844.68
Home Trust Savings Chukwukadibia Ajaegbu, Funmu Ademosun 30,626,243,344.71
Geometric Power Limited Prof. Barth NnajiNnaji AgathaObibuaru ElumaAnike PaulNwobodo Benjamin Chukwuemeka

Dozie Chijioke

Akpe Austine

Nnaji Okechukwu

UBA Trustees Limited

Kunoch Limited

Diamond Capital & Financial Market Limited 29,844,500,896.77

Roygate Properties Limited Wale Babalakin (SAN) Agumadu John Alarape Olabode Okhaleke Ndudi 28,137,176,532.32
Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC)Shell Staff, represented by Ikponmwosa Ogiemuda26,474,541,188.17
Anyiam Osigwe LimitedAnyiam-Osigwe Dorothy Chinyere20,523,322,350.29
Platinum CapitalObire RichardFrancis Atuche20,378,820,507.19
Flotsome Investment LimitedOboden IbruTejiro Ibru20,218,703,550.96
Lonestar DrillingLate Chief IdisiMargaret Idisi20,207,979,803.22
Petrologistics LimitedUgoji Egbujo19,576,962,565.35
Lorna Global ResourcesH.E. Chimaroke Nnamami18,919,109,352.85
Hosanna Properties LimitedAnionye ChikaObi Ike C.18,059,895,396.27
Minaj Holdings Limited, Ajegbo Mike Nnayeluchudihu, Luke Chidi Chudihuilogu, Miller Gregrey, Ethridge Kyle

Attueyi Joe

Oladele Afolabi

Okpere Kisito

Kokoricha Paul

17,306,900,257.66

Afrijet Airlines LimitedInoelle Willam BarryCarr Collin13,122,022,439.57
Petroleum Brokers LimitedWilcox Awopuolagha13,076,314,937.26
Hotel De Island; Kasmal Properties; Island Autos & NacoilKashamu Prince Buruji13,015,595,907.67

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List Of Top 20 Loan Defaulters In Nigeria In Tabular Format

S/N	Obligor Name	Main Promoter(s)	Current Exposure
1	Capital Oil & Gas Industries Limited	Ifeanyi Ubah	115,952,152,265.92
2	NICON Investments Limited	Jimoh Ibrahim	59,544,633,980.31
3	Bi-Courtney Limited (MMA2)	Wale Babalakin (SAN)	40,798,422,374.02
4	Josepdam & Sons Limited	Late Mrs. Josephine Damilola KuteyiSaheed KuteyiGaniyu Kuteyi	39,056,674,951.55
5	Tinapa Business Resort	Cross River State Government	36,006,319,844.68
6	Home Trust Savings	Chukwukadibia AjaegbuFunmu Ademosun	30,626,243,344.71
7	Geometric Power Limited	Prof. Barth NnajiNnaji AgathaObibuaru ElumaAnike Paul Nwobodo Benjamin Chukwuemeka Dozie Chijioke Akpe Austine Nnaji Okechukwu UBA Trustees Limited Kunoch Limited Diamond Capital & Financial Market Limited	29,844,500,896.77
8	Roygate Properties Limited	Wale Babalakin (SAN)Agumadu JohnAlarape OlabodeOkhaleke Ndudi	28,137,176,532.32
9	Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC)	Shell Staff, represented by Ikponmwosa Ogiemuda	26,474,541,188.17
10	Anyiam Osigwe Limited	Anyiam-Osigwe Dorothy Chinyere	20,523,322,350.29
11	Platinum Capital	Obire RichardFrancis Atuche	20,378,820,507.19
12	Flotsome Investment Limited	Oboden IbruTejiro Ibru	20,218,703,550.96
13	Lonestar Drilling	Late Chief IdisiMargaret Idisi	20,207,979,803.22
14	Petrologistics Limited	Ugoji Egbujo	19,576,962,565.35
15	Lorna Global Resources	H.E. Chimaroke Nnamami	18,919,109,352.85
16	Hosanna Properties Limited	Anionye ChikaObi Ike C.	18,059,895,396.27
17	Minaj Holdings Limited	Ajegbo Mike NnayeluchudihuLuke Chidi ChudihuiloguMiller GregreyEthridge Kyle Attueyi Joe Oladele Afolabi Okpere Kisito Kokoricha Paul	17,306,900,257.66
18	Afrijet Airlines Limited	Inoelle Willam BarryCarr Collin	13,122,022,439.57
19	Petroleum Brokers Limited	Wilcox Awopuolagha	13,076,314,937.26
20	Hotel De Island; Kasmal Properties; Island Autos & Nacoil	Kashamu Prince Buruji	13,015,595,907.67

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AMCON submits a new list of Nigeria’s top 1000 loan defaulters to the National Assembly.

Meanwhile, the Asset Management Corporation of Nigeria reported to the National Assembly at the end of last year, 2021, that it had presented a new list of its top 1,000 loan defaulters in Nigeria for 2021/2022 as part of a strategy to step up its debt recovery efforts.

The total current exposure of loan defaulters and chronic debtors on all eligible bank assets, according to AMCON, is N4.4tn, with market values of the assets significantly lower than the valuation at the point of purchase due to the socio-economic downturn, making sales transactions extremely difficult.

The list of “recalcitrant obligors” (debt defaulters in Nigeria), it stated in a statement, was presented to members of the House of Representatives Committee on Banking and Currency during a retreat in Lagos.

According to a top source reported by Punch Newspaper, Nigeria’s 1,000 loan defaulters are responsible for 90% of the country’s total debt of N4.4 trillion, or N3.9 trillion.

“The 1,000 debtors (credit defaulters in Nigeria) are those accountable for the big-ticket bills,” the insider claimed.

On the list are a number of renowned Nigerians from various sectors of the economy. These persons and their businesses are responsible for 90% of the entire current exposure on all qualified bank assets, which is estimated to be worth N4.4 trillion.”

The AMCON Act extends the tenor of the resolution cost fund and gives AMCON access to the Special Tribunal established by the Banks and other Financial Institutions Act 2020, which gives AMCON the power to “take possession, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for Eligible Bank Assets, and related matters,” among other things.

Mr Victor Nwokolo, Chairman of the House of Representatives Committee on Banking and Currency, was quoted as saying that the committee requested the list of loan defaulters in Nigeria from the corporation’s Managing Director/Chief Executive Officer, Mr Ahmed Kuru, so that the National Assembly would be aware of all “those holding the country to ransom.”

This, he said, would allow lawmakers to meet with appropriate Federal Government agencies to discuss how to deal with debtors in the future so that AMCON’s mandate could be fulfilled in the overall benefit of the Nigerian economy. The National Assembly, he claims, is preparing severe actions against those whose names appear on the list of the top 1,000 AMCON debtors.

He expressed his delight that Buhari had signed the modified AMCON Act into law, saying it will assist the corporation in recouping its massive unpaid debt and ensuring the Federal Government’s goal of establishing AMCON in 2010 was met.

“To enable AMCON to succeed in its national call to duty, AMCON solicits the continuing cooperation of this outstanding committee,” Kuru said as he presented the list.

“The judiciary must be encouraged to follow the law’s requirements for expediting cases before them, issuing certificates of judgment on assets for which the corporation has no security, and requiring debtors to deposit judgment sums before appealing any judgment,” says the report.

Kuru praised the judiciary for its assistance, noting that the corporation’s recovery efforts are “heavily reliant on the country’s system because AMCON has over 4,000 lawsuits in court.”

Frequently Asked Questions About Loan Defaulters In Nigeria

Below are frequently asked question about Loan Defaulters In Nigeria.

1. What happens if online loan is not paid in Nigeria?

If you do not pay your online loan in Nigeria, the lending app where you borrowed the money may make your name, BVN, photo, profile details, phone number, and contact information public.

When you borrow money through a lending app, they save your contact information in their database, which they may use to blackmail you or publicly disgrace you if you miss on your loan repayment.

2. What happens in Nigeria if you default on a loan?

When you default on a loan in Nigeria, the lending app that lent you money may publicize your name, BVN, photo, profile data, phone number, and contact information in order to embarrass and blackmail you into repaying the amount. It’s preferable not to borrow money or not to repay it if you do, than to allow yourself to be publicly embarrassed.

3. What happens if you don’t pay back a bank loan in Nigeria?

If you fail to repay a bank loan in Nigeria, AMCOM, the Asset Management Corporation of Nigeria, may publish your name in a national newspaper if you are among the country’s top loan defaulters. This is after the bank has issued a warning and asked you to return your debt.

4. Can my BVN be blocked by the lending app?

If you default on a loan in Nigeria, your BVN cannot be blocked. They can, however, make public your BVN and other personal information, as well as your contact information that they have acquired from their database, and state that you have paid off your outstanding loan.

5. Can you go to jail in Nigeria if you default on a loan?

If you default on a loan in Nigeria and are not prosecuted, you may not go to jail right away, but you may be publicly disgraced and your name published in a national newspaper.

If you default on a loan app, the platform can publicly display your photo and personal information to your connections and the general public in order to embarrass you and force you to repay.

If you default on a bank, though, your name may be made public if you are one of the top loan defaulters.

6. What is the penalty for defaulting on a personal loan?

If you default on a personal loan in Nigeria and are not prosecuted, you may not go to jail right away, but you may be publicly disgraced and your name published in the national newspaper.

If you default on a loan app, the platform can publicly display your photo and personal information to your connections and the general public in order to embarrass you and force you to repay.

7. Do you require a fast or emergency loan in Nigeria with a low interest rate?

Are you looking for a quick loan or an emergency cash loan in Nigeria? You can apply using any of Nigeria’s leading lending applications and receive funding in as little as 3 hours, a few hours later, or within 24 hours. With any of our renowned loan applications in Nigeria, there are no hidden fees, no documents required, and no collateral is required.

If you are a Nigerian and live in Nigeria, there are several lending apps created for urgent and emergency cash. Anyone who has an urgent financial requirement that cannot wait can apply for an emergency cash loan.

8. Where Can I Find Reliable Loan Apps In Nigeria That Have Low Interest Rates?

You can apply for quick cash loans from other platforms besides ALAT By Wema if you require reliable best rated loan applications in Nigeria with low interest. If you own a business, you can apply for a larger loan amount using the Lendigo platform.

The funds might be utilized to help your company grow and flourish.

We should also mention that if you are a Nigerian or a non-Nigerian living in the United States (USA), you can apply for an emergency cash advance loan even if your credit rating is poor or negative.

Please stay away from any of the top 22 loan sharks in Nigeria like the plague. In Nigeria, there are scam, fraudulent, and phony loan apps.

That has been Top 20 Loan Defaulters In Nigeria 2022. If this article has been of help to you, why not share it with friends on social media through any of the sharing buttons below?

LMA Team.

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