The policy of naming and shaming of banks delinquent debtors by Nigerian Deposit Money Banks continued on Monday with further publication of the names of firms and their directors whose loans have become non-performing for more than one year.
As at Monday, only nine banks published the names of the loans defaulters while four other banks released the lists of their chronic debtors, owing a total of N143.81bn, on Tuesday.
The four banks are First Bank of Nigeria Limited, Access Bank Plc, Diamond Bank Plc and Unity Bank Plc.
The banks, which had published the list of their delinquent debtors on Monday were Zenith Bank Plc, Guaranty Trust Bank Plc, Union Bank Plc, Sterling Bank Plc, Skye Bank Plc, Fidelity Bank Plc, Stanbic IBTC Bank, Heritage Bank Limited and Enterprise Bank Limited.
First Bank, which has its total amount of non-performing loans as N43.72bn, published 92 names of delinquent debtors, with the first five companies on the lender’s list owing a combined sum of N23bn.
These are Ajaokuta Steel Company Limited, Starcomm Plc; BGL Securities Limited, where a former Minister of Finance and National Planning, Kalu Idika Kalu, is a director; Shield Petroleum Limited and Fargo Petroleum and Gas Limited.
Shield Petroleum, the number one on the list, owes N6.883bn; while Zurich International Service, the last on the list, owes N26.69m.
Unity Bank also released 260 names of delinquent debtors with a combined NPL figure of N45.52bn, owed by companies owned by some prominent Nigerians, including former FirstBank Chairman, Umar Mutallab’s DeanShanger Project Limited with N3.6bn.
Others include Senator Ayodele Arise and a former Minister of State for Works, Dayo Adeyeye’s International Payment Devices Limited, N81.9m; and Prince Adeyanju Olateru-Olagbegi’s Cupid Investment BDC, N90.1m.
Other prominent companies on the list are Ekiti Kete Mass Transit, which owes N991m; Fargo Petroleum and Gas Limited, N2.5bn; Ava Cement Limited, N.8bn; …Read More
Source:: New Mail