CBN’s ‘onigbese’ list is brimming over with the ‘Who is Who’ in Nigeria. Already the noise level over this error of comedies, threatens to eclipse Mount Krakatau’s eruption. In all spheres of Nigeria’s development the debtors are well represented. The Dangotes, the Ogborus , the Otedolas etc. It is a very select crowd of ex Governors, Ministers, oil and gas tycoons many of them national award holders. It’s simply insane; many of these big guns, feared and respected in the society are in the devil’s basket. A number of the debtors owe tens of billions of naira at the same time are regular billion naira donors at fund raising dinners off course sponged down our throats by Nigeria’s apologetic mainstream media. Welcome to the d-e-m-o-n-c-r-a-z-y world of Nigeria’s high and mighty. Professor Ndi Okereke-Onyuike, DG of Nigeria’s stock exchange was glib and quick to suspend the 5 lepers from the trading floor but failed to tell us that her Transcorp was neck deep in the debt slime. Transcorp owes union bank nearly 40 billion naira and Okereke-Onyuile now has a week to explain how come and my extension, why her bum must continue to hug the NSE’s saddle. When the CBN Governor Sanusi Lamido, told a stupefied audience that a single individual owed 40 billion naira; many responded ‘tales by moonlight

http://connectafrica./2009/08/20/super-rich-my-foot/

Super rich and super fake

It has never been a secret that the Otedolas, Dangotes, Jimoh Ibrahims and other billionaires owe banks. In fact, there is hardly any billionaire, the world over, that is not indebted to bank. For example, it will be most fooolish of Dangote to finance that Obajana project from his pocket when he can easily get loans from bank.
Borrowing is normal business practice but defaulting is the issue.

But after factoring out their liabilities(debts), their net-worth are still in billions. They are therefore still rich.

@Jarus, please factor in the banks yearly profits that aren't real and the 'billionaires' treasures that are not also real. add it together and what do you have a virtual, surreal world. it's like Nigeria living above its means and calling itself the giant of africa