Friday, October 16, 2009

Nigeria party leader on debt list (Alhaji Atiku Abubakar )






Nigeria's former vice-president and opposition leader Atiku Abubakar is included in a list released by the Central Bank of major bank debtors.
The list says Mr Abubakar owes 111m naira ($730,000; £450,000) - though he says he will pay the money back.
It also names 600 others who owe a total of $2.5bn.
The non-repaying of these debts is a major factor in the recent government takeover of several banks, and has caused a scandal in the country.
The BBC's Caroline Duffield in Lagos says the latest move by the Central Bank marks the end of its forensic audit of Nigeria's 24 financial institutions.
The scandal emerged in August as the government stepped in to take control of five banks - sacking their management teams.
Four chief executives were arrested - they are now being prosecuted on multiple fraud charges.
A fifth chief executive is on the run - he is thought to be in the UK, our correspondent says. Powerful people
The list of debtors to the Bank PHB, Equitorial Trust Bank, Spring Bank and Unity Bank was posted on the Central Bank website on Wednesday evening. Debts owed to a fifth bank, Wema Bank, have not been revealed.
Other powerful people on the list include:
Aliko Dangote, president of Nigeria's Stock Exchange, who is Africa's wealthiest man
• Culture Minister Adetokunbo Kayode
Peter Ololo, a stockbroker, who has the largest debt of more than $110m.
Our reporter says Mr Ololo was previously relatively unknown to the public, but has been dubbed ''the man who brought down the banks'' by Nigeria's press.