August 03, 2015

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Newspaper of the Year

•50 insurgents killed in Borno community raid •Teachers to governors: don’t divert bailout funds •Indigenous firm Arco battles Agip over contract •One dead in NURTW, RTEAN clash in Kwara •Nigeria’s widest circulating newspaper

VOL. 10, NO. 3295 MONDAY, AUGUST 3, 2015

P2 P6 P4 P9

NEWS Page 2

Ooni absent as son weds in Lagos

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

•INSIDE: MINIMUM CAPITAL: SEC, NSE SCREEN CAPITAL MARKET OPERATORS P25

Revealed: Who is who on lists of big bank debtors Six customers owe N27.91b B

ANKS are exposing the businesses and people behind the mountain of debts threatening to kill the sector - courtesy of a Central Bank of Nigeria (CBN) directive that expired at the weekend. Barring unforeseen developments, some of the banks will begin the publication of their debtors’ list today. The publications are coming on the heels of the July 31, 2015 deadline set by the apex bank for the debtors to pay up.

By Simeon Ebulu and Collins Nweze

The lists, an official of one of the banks said, is just a part of the whole. “Some debtors have entered into various payment schemes to avoid being shamed by this exercise,” the bank official, who pleaded not to be identified because of “the sensitivity of the action”, said. The debtors are to be blacklisted and banned from participating in the foreign exchange market as well as trading in the Nigerian Government Securities market. The publication of

WHO OWES WHAT

•Starcomms Ltd. •Kesio Associates •Dec Oil & Gas •Alliance Energy •Hajaig Construction •Sapta Int'l Ind. Ltd •Petroleum Int'l •Best Aluminum the debtors’ lists is to be a continuous exercise. Union Bank is owed huge sums by 176 debtors. Six customers collectively owe the bank N27.91 billion. They are

N3.08b N328.1m N15.7b N4.92b N2.99b N1.87b N1.25b N1.11b

Dec Oil & Gas, owing N15.7 billion following a 1999 contract finance loan that expired in 2000. The directors of the company are Patrick Ugboma and Pius U. Malaka.

Other debtors include Alliance Energy, which is owing the bank N4.92 billion. The term loan approved in 2004 expired 2006. The directors are Akinwale Omoboriowo, Kojo Anan and Timi Austen-Peters. Hajaig Construction is owing the bank N2.99 billion on a loan approved in 2012 and which expired in 2014. The directors are Abdul Nasser Hajaig, Rud Wan Hajaig and Mohammed Hajaig. Sapta International Industries Limited is owing the bank N1.87 billion over a 1987 term loan that expired in 1988. The directors are Alex Aloy Nwokodikwa and Clement Nwokodikwa. Petroleum Project International has a debt of N1.25 billion over a term loan obtained in 2004 that expired in 2007. The directors are Akinwale

Omoboriowo, Kojo Anan and Timi Austen-Peters. Best Aluminum owes N1.11 billion for import and lease facilities obtained between 2010 and 2012. The directors are Chief Godwin Nweke and Chief Pius Nweke. Fidelity Bank’s debtors include the telephone firm Starcomms Limited, which owes N3.08 billion cumulatively in the three accounts it runs with the lender under the same name and directors. The first account, which got in 2009 an overdraft which expired in 2014, is owing the bank N1.68 billion; the second account, a term loan approved in 2011 and which expired in 2014, is indebted to the tune of N1.16 billion. The third account, also an Continued on page 2

NNPC, others get deadline on queries From Yusuf Alli, Abuja

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RESIDENT Muhammadu Buhari has directed all Ministries, Departments and Agencies (MDAS) to respond to all outstanding queries within 30 days or face sanctions. The development has created anxiety in more than 50 MDAs, including Nigerian National Petroleum Corporation, Department Continued on page 2

Title-crazy civil servants to go From Yusuf Alli, Abuja

T

ITLE-CRAZY civil servants are scared of being sacked, The Nation learnt at the weekend. Officials, who violated the Public Service Rule banning titles until after retirement, may be retired in the coming civil service reforms. Only those whose titles were traditional-

?

WILL THE CHIBOK GIRLS EVER RETURN?

ly inherited may be spared but their postings and conduct will be put under watch. According to sources, the government is disturbed that most of the Continued on page 2

•HONOUR FR OM A NEIGHBOUR: President Muhammadu Buhari being honoured with the traditional title of “Manahouwhe’ Gbede” (I will never FROM forget you) during a state gala lunch in Cotonou, Republic of Benin...at the weekend. Watching are: Benin President Boni Yayi (second left) and Lagos State Governor Akinwunmi Ambode.

AGE 2 •PA Benin to join anti-Boko Haram war with 800 troops •P

•SPORTS P15 •JOBS P35 •CEO P37 •MOTORING P39 •POLITICS P51 •FOREIGN P56


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August 03, 2015 by The Nation - Issuu