davodyguy:


Stop saying what you don't know.

People and companies like Ifeanyi Uba's capital oil, Silverbird group and Obat are responsible for the unhealthiness of Nigerian Banks.

The banks gave them loan to expand, some of them mismanaged the funds and cannot pay the banks back, hence banks collapse.

If not for Amcon that bought over NPL (Non Performing Loans) in 2010 Many banks like Union bank, UBA, First bank, Access Bank, Skye bank etc would have collapsed. Joint debt back then stood at 4trillion Naira

One thing Sanusi Lamido Sanusi did right was AMCON.

AMCON has saved thousands of Jobs, saved businesses from collapse and also saved the Nigerian economy.

I have made millions cos AMCON was set up. My firm has made money cos no bank died and AMCON gave out bail out funds to people.

That Capital Oil hasn't gone down, when they're indebted to over 50 billion naira (Still haven't paid till date) it was AMCON that paid Skye Bank, access bank and the other banks

InyinyaAgbaOku:
The really rich people in Nigeria are igbo people

siraj1402:
I hope this is not part of the plan to "kill" Mimiko totally, Olugbo is one of major financial backbone of MIMIKO and PDP in Ondo. Watching in 3D

Gaddafithe2nd:

Really... Do you know that Ifeanyi Uba is among the great debtors owing Nigerian banks.

davodyguy:


Stop saying what you don't know.

People and companies like Ifeanyi Uba's capital oil, Silverbird group and Obat are responsible for the unhealthiness of Nigerian Banks.

The banks gave them loan to expand, some of them mismanaged the funds and cannot pay the banks back, hence banks collapse.

If not for Amcon that bought over NPL (Non Performing Loans) in 2010 Many banks like Union bank, UBA, First bank, Access Bank, Skye bank etc would have collapsed. Joint debt back then stood at 4trillion Naira

One thing Sanusi Lamido Sanusi did right was AMCON.

AMCON has saved thousands of Jobs, saved businesses from collapse and also saved the Nigerian economy.

I have made millions cos AMCON was set up. My firm has made money cos no bank died and AMCON gave out bail out funds to people.

That Capital Oil hasn't gone down, when they're indebted to over 50 billion naira (Still haven't paid till date) it was AMCON that paid Skye Bank, access bank and the other banks

siraj1402:
I hope this is not part of the plan to "kill" Mimiko totally, Olugbo is one of major financial backbone of MIMIKO and PDP in Ondo. Watching in 3D

chigoizie7:
Please they should recover their money.


Naija banks has been messing up big time.

Most of them give out loans without collaterals , once u are a big name, gbaam, u get am, same way they are killing the economy with this dollar thing.

Once u are rich, u request for fx at official or interbank rates, then go back to sell at inflated rates in the black markets.


Seriously, Naija banks needs thorough smacking by both efcc,dss and cbn.

tjay01:


Quit saying nonsense. Nigerian Banks do not give out big loans without collateral.

Granting loans, esp huge ticket transactions is not an easy one and a team of credit analysts and Directors have to review before approving. Even when collateral is not involved, the transaction dynamics has to be such that there will not be any loopholes and the Bank will be the ultimate beneficiary. Corporate governance is not something that is taken for granted especially since the Sanusi era.

For personal loans however, collateral is usually not involved since repayment is tied to salaries or a form of regular income.

Always try to get your facts right!

tjay01:


Quit saying nonsense. Nigerian Banks do not give out big loans without collateral.

Granting loans, esp huge ticket transactions is not an easy one and a team of credit analysts and Directors have to review before approving. Even when collateral is not involved, the transaction dynamics has to be such that there will not be any loopholes and the Bank will be the ultimate beneficiary. Corporate governance is not something that is taken for granted especially since the Sanusi era.

For personal loans however, collateral is usually not involved since repayment is tied to salaries or a form of regular income.

Always try to get your facts right!

aaronson:
Wtf? skye bank that isn't healthy trying to cure another organization. Last time they acquired Nitel, pundit has it that they were almost liquidating because of low re-capitalization before CBN came to their rescue and now again, they about repeating history.

Sometimes I feel most organizations and banks in Nigeria needs the help of Goldman sach.

dayleke:
Wow!!!
So living large in Naija is by bank effort?
Chai!!!!
Peoples no get conscience o....

davodyguy:


Stop saying what you don't know.

People and companies like Ifeanyi Uba's capital oil, Silverbird group and Obat are responsible for the unhealthiness of Nigerian Banks.

The banks gave them loan to expand, some of them mismanaged the funds and cannot pay the banks back, hence banks collapse.

If not for Amcon that bought over NPL (Non Performing Loans) in 2010 Many banks like Union bank, UBA, First bank, Access Bank, Skye bank etc would have collapsed. Joint debt back then stood at 4trillion Naira

One thing Sanusi Lamido Sanusi did right was AMCON.

AMCON has saved thousands of Jobs, saved businesses from collapse and also saved the Nigerian economy.

I have made millions cos AMCON was set up. My firm has made money cos no bank died and AMCON gave out bail out funds to people.

That Capital Oil hasn't gone down, when they're indebted to over 50 billion naira (Still haven't paid till date) it was AMCON that paid Skye Bank, access bank and the other banks

Bollove:
pls, I want to ask a layman question, Where does AMCON get the money to pay up all these debts ?

chiefobdk:




So wat do u ve to say about this. .



http://www.vanguardngr.com/2016/10/court-orders-amcon-pay-capital-oil-n26-5bn/

By Ikechukwu Nnochiri
ABUJA—The Federal High Court sitting in Abuja, Thursday, ordered the Asset Management Corporation of Nigeria, AMCON, to pay N26.5 billion to Capital Oil and Gas Industries Ltd.
The court, in a judgement delivered by Justice Abdul Kafarati, equally made an order appointing an independent auditor to ascertain losses the firm which is owned by a one-time governorship aspirant in Anambra State, Chief Ifeanyi Ubah, incurred due to failure of AMCON to comply with its obligations under a consent judgement it entered for the parties on June 21, 2013.
The consent judgment followed an agreement between Ubah who is majority shareholder in Capital Oil, and AMCON, for the restructuring of debts the firm owed various creditors, including banks, suppliers and staff.
Under the arrangement which was backed by the court, AMCON was to provide N55.89bn to the plaintiff for the repayment of the debts, as well as an additional N16bn as trading capital to the plaintiff for the purpose of its petroleum products’ trading business.

aaronson:
Wtf? skye bank that isn't healthy trying to cure another organization. Last time they acquired Nitel, pundit has it that they were almost liquidating because of low re-capitalization before CBN came to their rescue and now again, they about repeating history.

Sometimes I feel most organizations and banks in Nigeria needs the help of Goldman sach.

Selena06:
I thought the liquidity of skyebank was questioned some days ago.