vanitybutiwanti:
Investment bankers and private equity financiers are smiling to the bank, cool $9b profit, won't be surprised if the real loan providers are Nigerians considering that the company was incorporated in a tax haven, Nigeria is a truly a place to make easy money little wonder why everyone wants to be governor or president, once you attain that position, the Generational money making opportunities are boundless, you dint even have to steal directly if you're smart

UBA is among

Simeon88:
Someone should please educate me, how do you pay $12 billion for a loan of $3billon in just five years. I just weak for this country

The people at the helm just made cool and legitimate $9b cash, I must give it to them, they are very smart, they didn't have to steal brazenly like the past administration, investment bankers and the fund providers are smiling to the bank

Kukutenla:

UBA is among

Tony Elumelu just got settled, remember BAT visited him after the election

vanitybutiwanti:
Tony Elumelu just got settled, remember BAT visited him after the election

Well....
One good turn they say
Make Zombies continue to stand on his mandate on empty stomach

How can this work? If fuel is latter sold for ₦149 per barrel, who will lose? 9 ja and 410 are.... That deal will benefit same caucus. Who is afrexim and 9ja?How can this work? If fuel is latter sold for ₦149 per barrel, who will lose? 9 ja and 410 are.... That deal will benefit same caucus. Who is afrexim and 9ja?...

Kukutenla:

Well....
One good turn they say
Make Zombies continue to stand on his mandate on empty stomach

Has nothing to do with zombies, its a new administration, people that worked for the emergence of the President must make money, the opportunity for the financing would have been advertised to cash rich billionaire Nigerians. If your preferred candidate had won, he'd have also settled the bigwigs in his team through concessions like this.

Gboss247:
An average Nigerian on the streets is still waiting for FDI to add more bundle to the liabilities of $7billion. Nigerian economy needs emergency diversification from oil and gas into other productive sectors such as the technology industry (the backbone of the 21st century economy). Remember that NLNG has also been securitized.

Our purpoted leaders are not ready to do the right thing, first cut down on excesses and owanbe then revert back to subsidy to stimulate the economy while they come up with a sustainable solution.

Some idiots get mind support this heartless man to squander this nation with wicked policies but iamsure a day of reckoning will surely visit them, abachi was there b4 him sha.

vanitybutiwanti:
Has nothing to do with zombies, its a new administration, people that worked for the emergence of the President must make money, the opportunity for the financing would have been advertised to cash rich billionaire Nigerians. If your preferred candidate had won, he'd have also settled the bigwigs in his team through concessions like this.

This particular arrangement is so useless and wicked,go through the write up again. This has gone beyond settlement, paying back 3billiion with oil worth 12billion and possibly will go higher with the instability in middle east is so lame and corrupt.

Artscollection:


This particular arrangement is so useless and wicked,go through the write up again. This has gone beyond settlement, paying back 3billiion with oil worth 12billion and possibly will go higher with the instability in middle east is so lame and corrupt.

well what can you and me do about the arrangement? Powerful Nigerian billionaires just creatively made easy $9b cash

This means Nigeria sold 1 barrel of crude oil to afrixim for 18 $ and will then pay 11% interest therefore afrixim will collect 16,200000 barrels of crude oil from nigeria because they borrowed Nigeria 3b$.

Amd this oil is worth exactly 1,300,000,000 trillion dollars in the international market.

Thisnis to say that Nigeria sold our crude oil for approximately 15$ per barrel instead of 86$.

Nigeria will like income of that is big enough to exactly about 80, 000 naira to all Nigerian citizens home and abroad, baby and old.

I think this deal is worth to be investigated for fraud.

Na this thing everybody dey fear for this new government "fraud"

Now we know why politicians kill to enter aso rock

ijustdey:
......As security



https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

Abeg who signed this agreement on behalf of Nigeria,tomorrow they will say Sokoloan and Okash is overcharging Nigerians
Haba, 3.3 billion dollars for 12 billion dollars,it has finished KpataKpata for my country

This Government needs to take some hard Decisions, sell off those scrap metals called Refineries,cannibalize Transmission Company of Nigeria and all this yeye DISCOS into 50 or more different companies,stop using scarce dollars for wasteful and elitist vanity
Finally,hand over more Responsibilities to the States and Local Government

I pity Nigerians,this type of Loan is a trap,it is like a deep hole that can never ever be filled

There will be no Nigeria by 2030. The level of debt, corruption and poverty is unsustainable. This is the reason why the government is afraid to arm Nigerians. They will use the arms against the government.

This one is worse than collecting money from a loan shark.Just because the tenor is long and you,re paying with God,s given natural resources then our leaders mortgage the future of the country.it is well.

sonnie10:


About 11 billion dollars. Pay back for a 3 billion loan.
It is well

playapayaski:
Has GTB folded? What's going on anyone with any useful information

What are you saying? Is anything the matter with GTB

vanitybutiwanti:
Has nothing to do with zombies, its a new administration, people that worked for the emergence of the President must make money, the opportunity for the financing would have been advertised to cash rich billionaire Nigerians. If your preferred candidate had won, he'd have also settled the bigwigs in his team through concessions like this.

This is the stupid reasoning and mentality that are keeping the country down.

If you knew this, why then are you and his supporters promising Nigerians heaven and earth on behalf of a criminal drug peddler??

Obi would never have done that, you idiot. That's the major reason the elite, including those from Anambra, didn't support him

Chisos!
11.85% of $3.3b=$391,050,000
Ie interest per annum of $391,050,000
5 years interest=$1,955,250,000!
Omo, which country takes loans at such interest rate for goodness sake!
If by now you do not believe we have entered one chance, you need prayers!

playapayaski:
Has GTB folded? What's going on anyone with any useful information

Watin happen?

Free2Fly:


This is the stupid reasoning and mentality that are keeping the country down.

If you knew this, why then are you and his supporters promising Nigerians heaven and earth on behalf of a criminal drug peddler??

Obi would never have done that, you idiot. That's the major reason the elite, including those from Anambra, didn't support him

you call me an idiot? I don't care about Tinubu you sanctimonious prick, the same obi that was featured in the Pandora papers, same obi that had government funds stashed in a bank he allegedly had controlling interest in, same obi that bought out his families stake at exorbitant rate in SABMiller, I don't know why you guys think obi is different from other politicians, you guys need to go for deliverance, the vast majority of igbos have been hypnotised by Peter obi, same man that was maligned here on nairaland when he was governor is now a Saint. What Tinubu and his crew just pulled off is actually the kind of scam obi pulled off in Anambra when he was governor, you're too blind and driven by petty sentiment to see the truth. Tell me why obi incorporated a company in a tax haven if he had nothing to hide, same thing the APC guys just did

Gboss247:
An average Nigerian on the streets is still waiting for FDI to add more bundle to the liabilities of $7billion. Nigerian economy needs emergency diversification from oil and gas into other productive sectors such as the technology industry (the backbone of the 21st century economy). Remember that NLNG has also been securitized.

Where is the electricity to diversify?
Just to power our smaller generator of 80kva, not the 120, 350 kva, we bought 300 liters yesterday, by this evening we had to get another 300l. Guess what? Diesel is 1k per liter. All the work is just to pay the diesel supplier.
2 days, 600k to power Gen set. How much is the revenue? Alternative is to shutdown and throw people out of work.

It's more.
You didn't even compound the interest!
Yr 1 is $391.05M
Yr 2, if Yr 1 interest is not paid off will go up. Etc.

Also check that an orphan SPV did the job of lender and is cashing out $66M (2% of the deal figure).

Essentially, Nigeria borrowed $3.3B to pay over five years but gave $12B away and will pay $2B interest and 2% of principal for every default per annum.

It is finished. Emi Lokan!

nedekid:
Chisos!
11.85% of $3.3b=$391,050,000
Ie interest per annum of $391,050,000
5 years interest=$1,955,250,000!
Omo, which country takes loans at such interest rate for goodness sake!
If by now you do not believe we have entered one chance, you need prayers!

The Lagos model is being replicated at the centre. Long term corruption programmed into PPPs and loans repayable with resources. Welcome to the future of corruption.

vanitybutiwanti:
Has nothing to do with zombies, its a new administration, people that worked for the emergence of the President must make money, the opportunity for the financing would have been advertised to cash rich billionaire Nigerians. If your preferred candidate had won, he'd have also settled the bigwigs in his team through concessions like this.

Ok so it's a good deal for Nigeria then?

And don't turn yourself to a prophet by projecting yourself or your party on others

You also need to go back and read the Op before you start making wild claying that the 9bn is to settle those who worked for him. One even wonders how many times they need to be settled.

When he appointed the largest cabinet in our history, you his followers claimed he was settling this loyal to him.

Now he's collecting loan on behalf of Nigeria using Nigerian assets and he's still settling those who worked for him.

Did Zombies not also work for him? When will they be settled for standing on his mandate?

Abi their own na just to carry water?

Where are the Agbado urchins insulting us claiming that the arrangement is not loan. Over 11 percent interest in a long term loan? No other country has ever done that kind of business before.

vanitybutiwanti:
you call me an idiot? I don't care about Tinubu you sanctimonious prick, the same obi that was featured in the Pandora papers, same obi that had government funds stashed in a bank he allegedly had controlling interest in, same obi that bought out his families stake at exorbitant rate in SABMiller, I don't know why you guys think obi is different from other politicians, you guys need to go for deliverance, the vast majority of igbos have been hypnotised by Peter obi, same man that was maligned here on nairaland when he was governor is now a Saint. What Tinubu and his crew just pulled off is actually the kind of scam obi pulled off in Anambra when he was governor, you're too blind and driven by petty sentiment to see the truth. Tell me why obi incorporated a company in a tax haven if he had nothing to hide, same thing the APC guys just did

So you actually voted him to do this?

vanitybutiwanti:
you call me an idiot? I don't care about Tinubu you sanctimonious prick, the same obi that was featured in the Pandora papers, same obi that had government funds stashed in a bank he allegedly had controlling interest in, same obi that bought out his families stake at exorbitant rate in SABMiller, I don't know why you guys think obi is different from other politicians, you guys need to go for deliverance, the vast majority of igbos have been hypnotised by Peter obi, same man that was maligned here on nairaland when he was governor is now a Saint. What Tinubu and his crew just pulled off is actually the kind of scam obi pulled off in Anambra when he was governor, you're too blind and driven by petty sentiment to see the truth. Tell me why obi incorporated a company in a tax haven if he had nothing to hide, same thing the APC guys just did

I'm not standing in for Obi but he was the only Nigerian elite mentioned in Pandora who had the courtesy to come out to defend himself. I watched it on Arise. His claim was that he's been operating such accounts since the 80s.
I think it's laughable, (I'm assuming you're correct that investing in SABmiller or a bank is a scam) that you're comparing investing in a company with taking a loan with state assets and paying by four times the loan in the space of 5 years. You guys need to tone down your blind hate for Obi.
Obi is not Tinubu. In terms of pilfering of public resources, they are historically apart.
I also noticed you actually praised the move as a smart scam. I'm disappointed. If it's do smart how come every average Joe on this thread is condemning it even with figures.
You need to extricate your head from APC'S sand.

Borrow borrow everytime

/
Why play with numbers?

Simply put...their expected earning from the deal is about 400% from Nigeria.

/

Artiiclebeast:


Wonderful country.

They always never expect the citizens to go this deep in thinking and analyzing every nonsense they dish out.

Nah...

They do not really care of the "citizens" deep think or analyze their excessive nonsense.

They just don't care as they know no one can do jack about it. Only talk and next will be them borrowing and sharing another time only for more talks...

The "untouchables" don't care about the talk of those below them...

We need scapegoats to set examples for succeeding officials else the system will remain the same no matter who claims the throne..

They're all a group of insatiable hyenas, vampires all of them.

African leaders are a total shame. If dem no flog dem, dem can never get sense..

Smh

How can they get double digits interest rate. This is too high for a government to take.

You borrow 3.3b and pay 12.8b what kind of senseless and foolish decision is this. Who are the one sitting on the table while this nonsense agreement is been agreed upon, Na so we so daft? Those who run this govt are those kids that score 3 over 100 in exams

Kukutenla:

I'm not standing in for Obi but he was the only Nigerian elite mentioned in Pandora who had the courtesy to come out to defend himself. I watched it on Arise. His claim was that he's been operating such accounts since the 80s.
I think it's laughable, (I'm assuming you're correct that investing in SABmiller or a bank is a scam) that you're comparing investing in a company with taking a loan with state assets and paying by four times the loan in the space of 5 years. You guys need to tone down your blind hate for Obi.
Obi is not Tinubu. In terms of pilfering of public resources, they are historically apart.
I also noticed you actually praised the move as a smart scam. I'm disappointed. If it's do smart how come every average Joe on this thread is condemning it even with figures.
You need to extricate your head from APC'S sand.

He came out to defend himself because he was running for President, go and read the Pandora paper report, you guys are too quick to defend that fraud, it was stated in the report that he open that account a year after he became governor, you call APC guys zombies but you guys are the real zombies, obi was a governor in Nigeria what spectacular thing did he achieve. I never voted for Tinubu but its a smart scam, i never mentioned obi, the guy that quoted me to insult me said obi would never do it and I gave him a breakdown of some of the scam perpetuated by obi. You guys needs to get your head out of obis As$