General
AMCON Releases Names of 105 Persons Who Owe N906b
By Modupe Gbadeyanka
The Asset Management Corporation of Nigeria (AMCON) has fulfilled the promise it made to name and shame some very important persons in the country owing the corporation huge amount of money worth over N1 trillion.
According to a report by Leadership Newspaper, top on the list are Mr Ifeanyi Ubah, Wale Babalakin, Jimoh Ibrahim and others.
According to the news journal, the money owed by the trio and 102 other individuals are over N900 billion.
“Capital Oil and Gas Industries Limited owned by Ifeanyi Ubah, NICON Investments Limited owned by Jimoh Ibrahim, Bi-Courtney Limited owned by Wale Babalakin, Josephdam & Sons Limited owned by the Kuteyi family and Tinapa Business Resort of Cross River State Government are the biggest delinquent debtors according to the list,” Leadership said.
According to the list, Capital Oil and Gas owned by Ifeanyi Ubah is indebted to the tune of N115.952 billion, while Wale Babalakin whose name is on the ownership of Bi-Courtney limited, Roygate Properties Limited owed N69.642 billion under the two companies.
Former governor of Enugu State and Peoples Democratic Party Enugu East Senatorial Candidate, Chimaroke Nnamani also appeared on the list with a debt of N42.49 billion owed to AMCON under the names of Iorna Global Resources, Sammy Beth Interbiz Limited, Camden Resources Limited, Riverside Logistics Limited and Rainbownet Limited.
Also on the list of debtors is Senator Buruji Kashamu who owes the corporation N13.015 billion. Jailed former governor of Plateau State, Joshua Dariye who had purchased All Progressive Congress senatorial nomination form but failed to secure a ticket was also on the list.
The former governor who is currently serving a 14 year jail term for corruption charges currently owes AMCON N6.823 billion which he has yet to come to reach a payment agreement. Another prominent name on the list is former Minister of Power, Professor Bart Nnaji, whose name appeared as a director of Geometric Power Limited which is indebted to the tune of N29.844 billion.
Managing Director of AMCON, Mr Ahmed Kuru, earlier in the year had mentioned plans of the corporation to publish the list of delinquent debtors and directors where applicable, who have failed to reach or refused to reach settlement resolution with the corporation.
Mr Kuru said the corporation was set for a new stage that would not involve negotiation but name and shame as well as take-over of properties of delinquent debtors that have refused to meet it halfway on the negotiation table.
According to him, going forward, in cases where the registered assets of a company that is indebted to the corporation was not enough to clear their obligation, AMCON would go after the directors and their private companies.
He said with over N5.4 trillion debt owed the corporation, AMCON had become tired of obligors (debtors), coming to its office and telling lies about wanting to embark on a staggered payment which they ended up never complying.
By Aduragbemi Omiyale
The United States government gave some terrorists in Nigeria a Christmas gift that sent many of them to the great beyond.
On Thursday, December 25, 2025, the United States President, Mr Donald Trump, directed his country’s military to launch air strikes on camps of members of the dreaded Islamic State in Iraq and Syria (ISIS) in Sokoto State.
According to Mr Trump, the military action, which he threatened to carry out a few weeks ago if the Nigerian government does not stop the killing of Christians in the country, occurred on Thursday night.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!
“I have previously warned these Terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.
“The Department of War executed numerous perfect strikes, as only the United States is capable of doing.
“Under my leadership, our country will not allow radical islamic terrorism to prosper. May God bless our military, and Merry Christmas to all, including the dead terrorists, of which there will be many more if their slaughter of Christians continues,” Mr Trump wrote on his Truth Social platform.
In a video on X, formerly known as Twitter, the Department of War of the United States posted the below video of the air strikes;
https://twitter.com/DeptofWar/status/2004351717131903272
By Modupe Gbadeyanka
The presidency has reacted to speculations that Mr Femi Gbajabiamila has been removed as the Chief of Staff to President Bola Tinubu.
It was alleged that Mr Gbajabiamila has been replaced with the President’s Principal Private Secretary, Mr Hakeem Muri-Okunola.
Mr Muri-Okunola went to Abuja to take up this role after leaving as the Head of Service of the Lagos State Civil Service.
Reacting to the reports on social media on the purported removal of Mr Gbajabiamila, a former Speaker of the House of Representatives, the presidency said no such change has been made.
In a statement signed on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, members of the public were advised to disregard the report as “there is absolutely no truth to this story.”
“The Chief of Staff remains in his position. The Principal Private Secretary likewise remains in his role. Hakeem Muri-Okunola has not replaced Femi Gbajabiamila as Chief of Staff.
“The viral claim is a fabrication by mischievous purveyors of fake news whose sole aim is to create disharmony within the government.
“We reiterate that news media should always verify their information before publishing or sharing on social media,” the statement said.
By Adedapo Adesanya
The new chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021.
According to a statement signed by Mr Eniola Akinkuotu, the Head of Media & Strategic Communications at the upstream regulator, the NUPRC boss made this assertation during her first town hall meeting with management and staff on Tuesday December 23, 2025.
She further disclosed plans to make the commission a business enabler and re-ignite investments in the upstream sector.
Recall that President Tinubu nominated Mrs Eyesan to take over the NUPRC after the abrupt resignation of her predecessor, Mr Gbenga Komolafe as well as his counterpart in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed.
In her new capacity, Mrs Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.
“The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.
“My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry,” she said.
The commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.
The NUPRC head said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.
On leadership style, Mrs Eyesan promised an open-door policy and frequent staff engagement, while also soliciting for support and cooperation as the industry embarks on the next phase of transformation.
“If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added.
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