LAGOS — THE Central Bank, CBN, yesterday, made good the promise by its Governor, Sanusi Lamido Sanusi, to publish the list of those indebted to the four banks that failed the second phase of the its audit test and whose managements were sacked two weeks ago.

The CBN in a statement signed by M.M. Abdullahi, Head, Corporate Affairs said: “In furtherance of the efforts of the Central Bank of Nigeria (CBN) to assist the banks affected by the outcome of the recent CBN/NDIC Special Examination, we publish herewith the list of non-performing loans of N100 million and above for Bank PHB, Spring Bank, Unity Bank, Wema Bank and Equatorial Trust Bank as at June 30, 2009.”

Four of the five banks are being owed a total of N348.409 billion.

A breakdown of the amount the individual banks are being owed show that Bank PHB is being owed N170.073 billion; Spring Bank, N95.594 billion; Equatorial Trust Bank, N46.154 billion and Unity Bank, N36.585 billion.

The list contained the names of companies and individuals which non-performing loans are in excess of N100 million. Conoil which Chairman is Mike Adenuga, owes Equitorial Trust Bank a total of non-performing loan of N19.866 billion followed by Transcorp which owes Wema Bank N16.627 billion. Netlink Television owes Spring Bank a non-performing loan of N4.821 billion and Mofas Shipping is listed as owing the Bank N3.053 billion. Both companies are promoted by Otunba Fasewe.

The companies and individual owe four of the five banks a total N348.409 billion. Falcon Securities owes a total non-performing loan of N14.793 billion and its Director as listed by the CBN is Peter U. Ololo.

On the list is Ankara Overseas Development company which is listed as owing Bank PHB the sum of N10.491 billion. The Director of the company is one Prince Oyedele. Another company owing N10.881 billion to the bank is Platinum Capital and its listed Director is Mr Carlos Kazeem.

Its account with the bank had a balance of N10.491 billion as at June 2009 but rose to N10.948 billion as at 5th October 2009. Zenon Petroleum is owing Bank PHB a total N5.154 billion. Absa Nigeria Limited is also listed as owing N3.999 billion as at the end of June, 2009 but the indebtedness fell to N3.177 billion as at 5th October.

The Directors of the company are Dr. Innocent Ezuma, Mr Abdulrahman and Mr Isa Mohammed.

Also owing is Cogipar Nigeria Ltd which the CBN said is having a non performing loan of N3.730 billion. Mr P. S Ugboma is listed as the Chairman of the debtor company.

On the CBN list of debtor companies to the banks is Gitto Construzioni Generali which Managing Director is Salvatore Gitto has an outstanding non-performing loan of N4.792 billion.

Delta Steel is listed as owing the banks N4.195 billion and Jalin Kapoor and S Karana Kumar are directors of the company. Other high profile debtors to the banks are Future View Securities N3.606 billion, Ojemai Farms N4.998 billion, Patosan oil and Gas owned by Peter Ololo N4.050 billion among others.


http://www.vanguardngr.com/2009/10/15/cbn-releases-fresh-list-of-bank-debtors/

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This CBN of Sanusi has a record of listing performing accounts as otherwise, mistating amount owned, and even mistating the owners of the accounts. So, let's wait a few more days for the reaction to the list to follow. How about the debt owed other banks? How about the debts owed by goverments and the parastatals

this one is private debt.
when will the public (govt) debt be made public?
I am a Sanusi supporter but i seriously doubt he can win the battle he is waging.
the foundations of the industry are faulty and seriously rotten