CBN Releases Fresh Debtors' List By ISAAC ANUMIHE, OMODELE ADIGUN,MADUKA NWEKE, KELECHI MGBOJI, TITUS NWOKOJI and LOUIS IBA Thursday, October 15, 2009 221 customers of Spring Bank owe N95.60bn 45 customers owe ETB N46.154bn The Central Bank of Nigeria(CBN) on Wednesday released a fresh debtors' list, revealing that customers owe the latest five banks, whose audit reports were recently released, about N400 billion. Bank PHB tops the list of the debt-ridden banks with N170 billion non-performing loans.Its subsidiary, Spring Bank,follows with N95.5 billion loan.Equitorial Trust Bank(ETB) has N46 billion loan in its portfolio, while Unity Bank and Wema Bank are owed N36.5 billion and N36 billion respectively. It would be recalled that three of the five bank chief executive officers were recently sacked.They are Mr Ike Oraekwuotu of ETB; Mr Francis Atuche of Bank PHB Plc and Mr Charles Ojo of Spring Bank Plc. They were replaced by CBN-appointed management. Among notable Nigerians whose names or companies were listed are Alhaji Muhammed Buba Marwa, Nigeria' s Ambassador to South Africa, whose defunct airline, Albarka Airline owes over N1 billion ; Mr Jimoh Ibrahim, N3.3 billion; Transcorp, N16.6 billion; Conoil,N19.86 billion; Dangote Industries Plc, N1.96 billion; Premium Seafoods Limited, N3.32 billon; Globe Motors, N3.03 billion; Baywood Limited owned by Chief Chris Ibe and Professor Pat Utomi, N2.74 billion among others. A total of N95, 594,989,430.06 is the outstanding balance owed by 221 customers of Spring Bank as at September30, 2009. Among the dignitaries that owe substantial amount include, Otunba Oyewole Fasawe, a director of the Bank who owes a total of N9, 284,331,037.52 in three accounts. Fasawe, through Netlink Digital Television with Account No 1601001010341 owe N4, 821,168,438.27; Mofas Shipping Nig-A/C2, 1601001010688 owe N3, 053,633,054.57 and through Transvari Services limited with A/C No 1601001010387, N1, 409,529,544.68. The chairman of the Bank, Kola Daisi also owes a total of N4, 121,200,911.36 through two accounts. He owes the bank through National Sports Lottery with A/C Nos 0721001006025 and 1441801000046. Chief Tony Anenih and Osahon Asemota through Mettle Energy and Gas limited owe N2, 065,661,421.09 with A/C No 0161601000897. Chris Baywood Ibe and Prof Pat Utomi are owing N2, 743,349,386.22 through Baywood Continental limited with A/C No 0011001024030. Also Segun Osinuga, director of the bank owes N2, 556,930,297.06 through WATYEM-DKS Enterprises with A/C No 1511001000102. In the case of ETB, the bad loans credited to 45 customers amounted to a whopping N46, 154, 945, 774. 89 as at June 30, 2009. Majority of the customers, all corporate bodies, gave legal mortgage, stock hypothecation, and assets debenture as collateral. Conoil Plc is the highest debtor to the bank with a total loan of N19.866 billion which is not supported by any collateral. Another bad loan ranking next to Conoil is credited to a certain BYSJ Project Account are to the tune of N5.972 billion. Premium Sea Foods Limited and Globe Motors Limited are the third and fourth biggest debtors of the bank with N3.321 billion and N3.031 billion respectively. Dangote Industries Limited, Hotel Excel Limited, Formosa Bottling Company Limited, Michelle Nigeria Limited and Igbinedion University are all enmeshed in bad loans to the bank. Dangote Industries is indebted to the tune of N1.968 billion, Hotel Excel N1.244 billion, Formosa Bottling Company N1.027 billion, Michelle Nigeria Limited N1.021 billion and Igbinedion University N841.987 million. Similarly the total non-performing loan owed to Wema Bank amounted to a whopping N36.07 billion. Transnational Corporation of Nigeria (TRANSCORP) has the highest non-performing loan of N16, 627,468,744.02, followed by Mrs. Josephine Oluwadamilola Kuteyi with a non-perfoming loan amounting to N8, 457,489,072.87. Others are Barr. Jimoh Ibrahim through his company, Global Fleet indebted to the tune of N3 billion, Odua Investment Limited with a total non-performing loan of over N3.7 billion.