Kobicove:


It does not prove anything!

No reputable financial institution likes unnecessary litigation... It's bad for business!

Zenith bank knows very well that in the end, they will pay more than what Otedola is asking for, and with those responsible facing possible jail terms.

Big man, big money, big talk

OriOko88:

Rich men always settle out of court cos they know both parties are powerful and will cancel each other out in court. But iv never seen where a rich man and poor man settle any case out of Court. It's always a case of ''I will show you who I am''.

No need of court sef. Na cell the poor man go sleep tire

Islie:
The Federal High Court of Nigeria, Lagos Division, dismissed the case on Thursday on receiving a notice of discontinuance from the plaintiffs.




https://www.premiumtimesng.com/business/business-news/704273-exclusive-otedola-zenith-bank-opt-for-out-of-court-settlement.html

Previous thread:
Femi Otedola Exposes ‘fraudulent’ Transactions In Zenith Account

Imagine if it was just a manager who was doing all these.. trust me. He would in kirikiri with denied bail.

Is this not a fraudulent case?

Is Nigeria constitution only for the poor?

This out of court settlement is because of the player (F.ote$) involved. If it were to be someone like us, they will drag the matter for years, hire the most expensive SANs to intimidate and bamboozle the court to submission.

One day, I am going to win my case against Access Bank and FCMB🙏

The fact that Otedola owed Zenith N39bn/N150 fx rate at that time =$260m… and AMCON used our funds to pay off this huge debt should be worrisome to us… Socialized losses for the wealthy while we tell the poor that Naija is too poor to pay for their: food, medicine, fuel, education.

The worst thing to happen to a citizen of Nigeria is to be poor and commit a crime. In the realm of riches, crimes are settled out of the court. Eg Cubana Chief Priest and EFCC

BigIyanga:
The fact that Otedola owed Zenith N39bn/N150 fx rate at that time =$260m… and AMCON used our funds to pay off this huge debt should be worrisome to us… Socialized losses for the wealthy while we tell the poor that Naija is too poor to pay for their: food, medicine, fuel, education.

When AMCON buys off these bad debts, what does it do with them?
Pardon the lay question

CrownedPhoenix:


When AMCON buys off these bad debts, what does it do with them?
Pardon the lay question

Try to recover and sell their assets if any… lol. Remember companies are treated like humans in business and law. All the ‘assets’ of zenon ltd might be leased from holding co or sister co owned or offshored by Otedola..highly unlikely to seize and sell all those assets… So Nigeria writes off those bad loans/debts..😂😂😂

BigIyanga:

Try to recover and sell their assets if any… lol. Remember companies are treated like humans in business and law. All the ‘assets’ of zenon ltd might be leased from holding co or sister co owned or offshored by Otedola..highly unlikely to seize and sell all those assets… So Nigeria writes off those bad loans/debts..😂😂😂

I think some zenon assets are now own by zenith bank?

Indifferent12:

I think some zenon assets are now own by zenith bank?

Not knowledgeable about this debt recovery case.. Off course, bankers and their lawyers are more smarter than most borrowers…Zenith would have required Zenon to stake some of their assets as collateral.. This case seems like Zeno over-valued their assets… while Zenith under-valued them during recovery proceedings😂😂

you will have to deal with the Attorney General not the person...Fraud is a felony in the US..and by someone who should know better means he will be gone for a long time.

Curious345:
If Na abroad , then somebody should be getting 45yrs behind bars

Oh yes!

JohnnA1:
This proves that Otedola's allegations against Zenith bank were legitimate.