The Central Bank of Nigeria on Wednesday, released the list of debtors with non-performing loans to the banks that were recently taken over (Bank PHB, Equitorial Trust Bank, and Spring Bank). Here is an excerpt of Tribune Newspaper’s report:

IN its ongoing sanitisation of the nation’s banking sector, the Central Bank of Nigeria (CBN), on Wednesday, released another list of individuals, corporate organisations, parastatal agencies and state governments owing five banks whose audit reports were released recently.

The total amount owed the five banks, according to the release, is N346,408,028,581.04, excluding the sum total of non performing loan of Wema Bank, which could not be ascertained at press time.

The non performing loans of the banks as at June 30, 2009 and October 5, 2009 respectively revealed Bank PHB topping the list with N170,073,403,358.39, followed by Spring Banks (N95,594,989,430.06), Equitorial Trust Bank’s (N46,154,945,774.44) and Unity Bank (N36,585,690,018.15).

As usual, names of politicians, businessmen and contractors topped the list. These include the former Managing Director of Wema Bank Plc, Mr. Adebisi Omoyeni whose Independent Securities Ltd owes N5 billion and Barrister Jimoh Ibrahim whose total loan is put at N5 billion also.

Others include Femi Otedola of Zenon Petroleum Gas Limited (N5,154,041,716.86), Peter Ololo of Petosan Oil & Gas Company Limited (N4,548,125,091.02), Chief Oyewole Fasawe (N7,874,801,592.84) and Kola Daisi of National Sports Lottery Ltd (N4,821,060,327.76).

You can download the report below.
CBN-Bank Debtors - Oct 14th 2009 (241)