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.
General
SERAP in Court to Further Extension of Moratorium on Sachet Alcohol Ban
By Modupe Gbadeyanka
A Federal High Court in Lagos has been urged to stop the federal government from further extending the moratorium on the ban on sachet alcohol in the country.
This request came from the Socio-Economic Rights and Accountability Project (SERAP), which asked the court for injunctive orders restraining the Federal Ministry of Health and Social Welfare and the Attorney-General of the Federation who represents the Federal Government, including the Office of the Secretary to the Government of the Federation (SGF), from further extending the deadline and interfering with the statutory powers of the National Agency for Food and Drug Administration and Control (NAFDAC) to enforce the ban.
The federal government intends to prohibit the production, distribution, and sale of alcohol in sachet format but manufacturers are lobbying to alter this.
A few days ago, the federal government suspended the policy due to concerns raised by the House of Representatives Committee on Food and Drugs Administration and Control.
This action was applauded by the Nigeria Employers’ Consultative Association (NECA), which noted that the sachet and PET segment of the alcoholic beverage industry accounts for a significant portion of the estimated N800 billion invested in the sector and supports thousands of direct and indirect jobs in manufacturing, packaging, logistics, wholesale and retail.
But SERAP seems not to be impressed with this as it, in a suit marked FHC/L/CS/2568/25, prayed for a perpetual injunction restraining the government from directing, preventing, blocking, or stopping NAFDAC from enforcing the prohibition, in line with its statutory functions under Sections 5 and 30(c) of the NAFDAC Act, the Spirits Drink Regulation, and the Memorandum of Resolution executed on December 19, 2018.
The civil rights group argues that the continued delay by the relevant federal authorities in enforcing the ban amounts to a failure to implement long-standing public health regulations designed to curb alcohol abuse, protect public safety, and safeguard citizens’ well-being.
In an originating summons dated December 15, 2025, SERAP contends that the ongoing circulation of sachet alcohol violates the National Health Act, 2014, the NAFDAC Act, the Spirits Drink Regulation, 2021, and the Memorandum of Resolution of December 19, 2018, which collectively mandate a nationwide ban on sachet alcohol.
The organisation wants the court to determine whether the Minister of Health can lawfully refuse or fail to enforce the prohibition, and whether any federal authority has the power to interfere with or delay NAFDAC’s statutory duty to enforce the ban.
It also wants the court to decide whether, given the acknowledged dangers of alcohol abuse, judicial intervention is required in the interest of public health, public safety, and public order.
According to SERAP, sachet alcohol, often cheap, highly potent, and widely accessible, has been linked to rising cases of alcohol abuse, particularly among young people and low-income communities. It argues that the 2018 Memorandum of Resolution and subsequent regulations were adopted precisely to address these risks.
Among the reliefs sought are declarations that the sachet alcohol ban is a valid regulation under the NAFDAC Act; that the Minister of Health has no legal authority to grant or extend any moratorium on its enforcement; and that it is unlawful for any federal authority to interfere with NAFDAC’s enforcement responsibilities.
SERAP is also asking the court, in the suit filed on its behalf by Mofesomo Tayo-Oyetibo (SAN), alongside a team of lawyers from Tayo Oyetibo LP, to affirm that the defendants have a duty to ensure the full implementation of the ban nationwide.
The court is expected to fix a hearing date in a few days time.
General
Anambra Moves to Curb Erosion Menace
By Adedapo Adesanya
Anambra State Executive Council (ANSEC), under Governor Charles Soludo, has taken a bold step to address the pressing issue of erosion in the state, while also recovering government lands and awarding strategic projects aimed at boosting the state’s economy and improving the quality of life of its citizens.
The Commissioner for Information, Mr Law Mefor, made this known after the 25th ANSEC meeting held recently at the Lighthouse, Awka.
He revealed that the meeting noted with grave concern the existential threat posed by erosion in Anambra, citing the careless actions of communities and regulatory bodies that have disregarded environmental regulations.
“The council has decided to step up enforcement measures to force individuals to build and manage storm waters from their houses and for communities to follow specific guidelines, such as building erosion barriers and excavating sand only in designated locations,” Mr Mefor stated.
He emphasised that the government will not hesitate to take stern action against individuals and communities that fail to comply with environmental regulations.
To address the issue, the government will enforce strict adherence to environmental regulations, mandate the construction of erosion barriers and proper sand excavation practices, and collaborate with relevant agencies to hold those responsible for the erosion menace.
It is also confident that with the support of the people, it will overcome the challenges posed by erosion and achieve its vision of making Anambra State a destination where economic and business activities thrive.
Furthermore, the council has resolved to form a committee to reclaim government lands in and around Anambra State that have been intruded upon and built upon without permission.
“The government will not stand idly by while its lands are being grabbed and misused. We will take all necessary steps to recover these lands and ensure that they are used for the benefit of the people of Anambra State,” Mr Mefor said.
ANSEC has also awarded several strategic projects aimed at enhancing the state’s infrastructure development.
The projects include the provision of a water supply to the Ekwulobia Flyover Bridge Fountain and the ornamental garden for Double NC Construction & Logistics Ltd; the installation of a 3-way traffic light, including pedestrian lights, at the Ifite-Amenyi intersection within the Awka metropolis to S.N.U. Ventures, and the supply and installation of two 10 kVA inverters with 15 kW lithium batteries at the Anambra State Civil Service Commission Building in Awka to Kennolly Enterprises.
Others include the supply and installation of transformer substations at Nnewi and Umueze-Anam communities for Aries and Gold Ventures Limited, and Aljovic Construction Limited; and the landscaping of the car park for the Trauma Centre at Chukwuemeka Odumegwu Ojukwu University Teaching Hospital (COOUTH), Amaku, Awka, for Triseconds Resources Limited.
General
Dangote Refinery Commences Free Delivery of PMS January 2026
By Modupe Gbadeyanka
The free delivery of premium motor spirit (PMS), otherwise known as petrol, across the country by the Dangote Petroleum Refinery will finally begin in January 2026. This was earlier scheduled for August 2025
This move, according to the Independent Petroleum Marketers Association of Nigeria (IPMAN), will bring down the price of the product in Nigeria.
The group has, therefore, urged all its members nationwide to patronise the Lagos-based private oil facility because it offers the best affordable price for all marketers.
Dangote Refinery has agreed to directly supply PMS to registered members of IPMAN, according to a statement signed and issued by the organisation’s president, Mr Abubakar Maigandi Shettima.
At a press conference held in Abuja yesterday on recent happenings in the oil and gas sector, IPMAN also applauded the support of the Chairman of Dangote Petroleum Refinery, Mr Aliko Dangote towards the federal government, which it noted has become evident in the regular reduction of the petroleum pump price.
“The association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80 per cent of the petrol retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.
“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.
“This will again, certainly lead to further decrease in the pump price of the products at our filing stations.
“Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today,” the group stated.
“At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the federal government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence, our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.
“The focus of the Dangote & IPMAN partnership, has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.
“Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Mr Shettima was quoted as saying in the statement.
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