Since business as usual is no more going around.. Now watch those rich corrupt people as they get their own share of the real economy. No wonder they keep going against the government. They all know the outcomes and now it has come to reality.

a2personal2013:
Wahala dey ooooo. Everybody that has voiced against this government is now being pursued by one legality or the other. We are all watching in 3D googles where this will lead us to.

We have an unending list of debtors cutting across various Nigerian businesses. Why is BMB being singled out ?

Like we always say " whatever is good for Boniface should equally be good for boniyarnsh"

Nigeria, nawa ooooo. This is about bank loan.

rose54321:
Haba na, the Federal government should step in and bail out companies like this.

If Silverbird is closed down, it's average Nigerians like me and you that will lose their jobs and suffer.

This is common sense, the government should put systems in place to help business and companies from closing down. The military approach wouldn't work here.

I have said my own, if things keep getting hard the masses will protest.

Mumu instead of asking questions or putting question mark @ the end u instead spewing ignorant thrash.

The silverbird brand might go but the facilities wont... amcon cannot run the firm instead other competing cinema and media chains will acquire them from amcon thus the funds will go a long way to settle the debt.

Amcon absorbs toxic assets (that is their job) then tries to make their money back.

Have u forgotten how desperate banks had to publish names of their debtors? One-by-one em go hear am.

What we should be agitating for is transparent bidding process during sale of these toxic assets.

rose54321:
Haba na, the Federal government should step in and bail out companies like this.

If Silverbird is closed down, it's average Nigerians like me and you that will lose their jobs and suffer.

This is common sense, the government should put systems in place to help business and companies from closing down. The military approach wouldn't work here.

I have said my own, if things keep getting hard the masses will protest.

How has he been managing the profit made from the companies? At least, in Abuja, 2 years ago, a movie was 2k, i don't knw about now

dridowu:


I doubt if you read this part The assets are being seized
following the failure of
Senator Ben-Bruce and his
brothers to settle an N11
billion loan owed Union Bank

Now it is left for Ben Bruce and companies to deny this allegations legally not on twitter
Government cannot keep on bailing out because you and i have refuse to pay our tax and if government increases any levy we all complain and remember their are lot of capital projects government must finance. For you to take loan it means you have the financial capability to repay it without help from an outsider. I'm sure the company can't close down because AMCON will transfer the company to another private investor for proper management and repayment of their outstanding loan. Even if Silverbird close down it will affect few people than Union Bank closing down due to numbers of people having their account with them including multinationals companies.

U make sense. Nice analysis.

rose54321:
Haba na, the Federal government should step in and bail out companies like this.

If Silverbird is closed down, it's average Nigerians like me and you that will lose their jobs and suffer.

This is common sense, the government should put systems in place to help business and companies from closing down. The military approach wouldn't work here.

I have said my own, if things keep getting hard the masses will protest.

Well said. America bails out their big employers/businesses.

What we have here is selective justice..

houstonia:
what more evidence do we need to identify a tyrant, after them go yab GEJ a man who withstood every opposition, degradation, insults and criticism with silence. Wole Soyinka you won't tell them again “any government that is afraid of criticism is......... ”

Display ignorance.

truthspeaks:
Did u notice wen buhari was away, thr was relative peace both in the polity and somewhat the economy. But d moment he came back, all chaos let loose. Shldnt that tel u something?. I will also blame buhari cos his govt is going to 2yrs n he z still on media trial. Buhari sef

I disagree with u. he is completely doing what he said he would do(anti corruption war is never a peaceful war sir).
I advice u to leave politicians alone if not u will be ignored at the end.
I think u said those because u personally do not like the president.
Join my team, #TEAMNEUTRAL and u will only laugh in all these.
put ur trust in God and leave these politicians to settle their scores.
Anyway, thanks my friend u are matured in ur reply

LoneRanger2:
Please do something for me.

Raise you hand up, raise it very high.Good now knock your head very hard.

That must have cleared you brain now,go back and read the news allover again then come back and comment.

Somebody borrowed 11 billion since 2005/ 2007 and fails to pay back and you are here blaming Buhari.SMHFU!

Talk from today till tomorrow it doesn't erase the fact that joining APC makes a former opposition free. From Uche Fashola to Amaechi I doubt that there's no one of them who isn't owing the bank. Why attack Ben , abi you wan tell me say everybody for APC clean? When they went after Fayose they abruptly froze his account but Saraki's case would continue to delay till his tenure is over. Why didn't cct put saraki in detention till they finished his trial. But FFK has remained there in detention because of a judge who has neglected his duty. You people keep turning a blind eye to the happenings and pretending not to see. Calamity that would take your heads is approaching. My only advice is that you all stick to APC and Buhari when it comes. Because there will be no defection this time.

Deen77:


Display ignorance.

What have you just said? No brainer

houstonia:
what more evidence do we need to identify a tyrant, after them go yab GEJ a man who withstood every opposition, degradation, insults and criticism with silence. Wole Soyinka you won't tell them again “any government that is afraid of criticism is......... ”

Maybe if u can jst close ur eyes right now and imagine that you are a shareholder/Account holder with Union Bank, maybe this news item would make sense to you!

It was witch hunting when EFCC came for Fayose, only for him not to deny the fact that 1.2billion was in his personal account!

Keep at it! More elbow to ur grease!

dammytosh:
WITCH HUNT.


So witch borrowed money and did not pay back ?

Witch did not service the loan.

I pray we receive sense sooner than we can.

================================================
HOW TO GET AWAY WITH FINANCIAL CRIME IN NIGERIA
================================================

1. Borrow Billions of Money and dont pay back or service it as agreed.

2. Collect Billions from Dansuki,

3. Register with PDP and be a card carrying member

4. Open twitter account .

5. Retwee, repost any hash Tag with "Buhari is a dullard", "Buari is a tyrant", "Buhari is a thief", " Buhari does not have common sense".
This qualify you to be an opposition leader.

6. Repeat 5 and be louder as much as you can.

7. Repeat 5 and 6 and be a bit louder. ( By now you are the voice of the common man a.k.a THE WAILERS)

8. Once they arrest you say they want to silence your voice.

Brilliant!!!!

MosesNG:
Pls if you can tell me whether the 11bn borrowed by BMB and co wasn't out of other ordinary people's deposits, then you may actually be right but if it happens that the loan amount was from other depositors savings which it is obviously, I wonder what motivates you to support such act. 1 family which u dont belong to (sure of that) destroying the finances of a large number of the ordinary citizen's (where you belong; sure of that too) and ua okay with it. The quality of sense of an average Nigerian beats me!

Go gentle on him bro. No b senators dey climb gate just to make a point. Everything is possible in our dear country.

AMCON is one agency of government you don't mess with. The moment they buy over your debt from a bank, you are done for.

The Act establishing the agency has given them so much power.

rose54321:
Haba na, the Federal government should step in and bail out companies like this.

If Silverbird is closed down, it's average Nigerians like me and you that will lose their jobs and suffer.

This is common sense, the government should put systems in place to help business and companies from closing down. The military approach wouldn't work here.

I have said my own, if things keep getting hard the masses will protest.

bro maka y na...wen some states still need bailout that we have not even c d money so make they just carry 11billion to help one senator wey we cant say wetin he use money do..u wicked

sammhi:
The lawlessness of PmB is nauseating to any sane person. PmB first assignment is to uphold the Constitution. , which urges him to uphold the law...
Is it not a court that will determine the case of property seizure? Until a court of law says so AmCOn cannot take it over ...
am very ashamed of this sort of impunity ....
it is ridiculous to say the least

There is a federal high court order... read properly...

houstonia:
what more evidence do we need to identify a tyrant, after them go yab GEJ a man who withstood every opposition, degradation, insults and criticism with silence. Wole Soyinka you won't tell them again “any government that is afraid of criticism is......... ”

I really don't like condescending to comment on posts of people like you. Was it Buhari that instituted amcon? In a broader sense, did the content in your cranium(if at all there is) not tell you the extended drive of its establishment, that is, to save banks from collapsing and save their customers from untimely grave as seen in the Société Générale, Gulf bank and others cases? When Ben Bruce was obtaining the loan and building his business empire with it, did you blame Buhari for that? When amcon was paying off the debt to save innocent depositors, did you blame Buhari for that? Or do you mean in apparent avoidance of witch - hunting allegation, any pdp person with such cases must go scot free with the debts or what are you even asseverating? The way people talk here makes me understand that 95% of Nigerian graduates actually passed through the educational system to satisfy a contemporary denier cri, not necessarily learning anything from the process. Quite unfortunate it is.

AtlanticBreeze:

why is that all the people being prosecuted by this govt are fierce buhari critics? do you know how much dangote is owning? wawa boy

You must be among the SSCE holders spamming this forum. To put the records straight Dangote is richer than all Nigeria banks put together he sources his loans from global financial institutions not from a rag tag local bank that cannot even pay salaries as and when due. He sourced for about $10 billion loan from gloabally efficient banks when he started building his refinery no local bank could have dream of providing this amount even if all they local banks were put together they couldn't have provided that money. But also know that the day Dangote failed to pay this loan his refinery would be taken over by the appropriate authority it is an economic practice

dammytosh:


AMCON does not buy all LOANS

They buy bad loans and must recover their money.


When you borrow money and you are not servicing it (Paying back as agreed in due time)

So don't hide under they are opposition and cook up WITCH HUNT stories.

This is the reason why we must fight the corrupt elite to stand still. They deny us quality education so all you can talk about and put up as their defense is whatever they tweet.

simple economic time value of money should be applied here, the value of 11bn invested since 2007 should at least have doubled by half. Dats a minimum of lets say 15bn or 16bn. No sane Nigerian should shout witch hunt. These politicians are our collective problem. These thieves borrow and mortgage our future and use their political connections to cover their shady deals.

wristbangle:
This is just a show of shame. Some of these big men live fake life while trying to use their political edifice to cover their ugly true nature. Imagine a whole 11 billion naira.

It is business.

Do you not know it is complex to run a national or multinational company?

Sometimes things go well, some times they don't

a2personal2013:
Wahala dey ooooo. Everybody that has voiced against this government is now being pursued by one legality or the other. We are all watching in 3D googles where this will lead us to.

We have an unending list of debtors cutting across various Nigerian businesses. Why is BMB being singled out ?

Like we always say " whatever is good for Boniface should equally be good for boniyarnsh"

Can you see your myopic and ipobic reasoning? It really gives a good profile of yourself

Naughtysite:


Well said. America bails out their big employers/businesses.

What we have here is selective justice..

Who would you bail out? Union Bank or Silverbird... As it stands, it is either Union Bank takes over the property with the attendant loss of jobs or AMCON takes it over, run it, get their money and hand it back to the former management

See ur life Sen bruce u cary pples money 4 hand u talk as if u re saint bloody impursure

franciskaine:
simple economic time value of money should be applied here, the value of 11bn invested since 2007 should at least have doubled by half. Dats a minimum of lets say 15bn or 16bn. No sane Nigerian should shout witch hunt. These politicians are our collective problem. These thieves borrow and mortgage our future and use their political connections to cover their shady deals.

I don't blame them Bro.

Most of them don't actually understand.

I have engaged several people and discovered that majority of the people shouting WITCH HUNT should be pitied.

Imagine some one saying

"Is he the only one oweing, what about Otedola and Dangote"

Seriously ?

Will AMCON go after people not oweing them ?

Etinosajay:


Silverbird won't be closed down. AMCON only took over management of the company, not ownership of it.

They will recover their debt, and hand the management of the company back to the previous managers.

Bro I don't think the company can be handed back... unless within a month or 2 (max) the bruce's can find 3-5bn to give amcon then redraft a repayment timeline for the remaining.

I don't think amcon are empowered to 'manage' going conerns (businesses). I'd have to check tho, but I serzly doubt that.

I expect the edifices to be sold... @least domino pizza no join this yawa

I used to say this; that some youth comments on social media betray the saying that '' youth are the leaders of tomorrow''.

AMCON was established in 2010 by GEJ govt to recover non- performing loan assets. If since 2005 such loan was not purchased by AMCON, union bank might have closed down it operational branches nation wide.

11billion naira is no small figure. Meanwhile, he spent millions of naira for his campaign. To me oo, what is now witchhunt here?

southpole:

You must be among the SSCE holders spamming this forum. To put the records straight Dangote is richer than all Nigeria banks put together he sources his loans from global financial institutions not from a rag tag local bank that cannot even pay salaries as and when due. He sourced for about $10 billion loan from gloabally efficient banks when he started building his refinery no local bank could have dream of providing this amount even if all they local banks were put together they couldn't have provided that money. But also know that the day Dangote failed to pay this loan his refinery would be taken over by the appropriate authority it is an economic practice

Dont mind the semi illiterates.

Zenith Bank is one the banks with the highest Capital Base of about 100Billion Naira

Dangote is worth over 16 Billion Dollars.

Let them do the maths.

houstonia:



Talk from today till tomorrow it doesn't erase the fact that joining APC makes a former opposition free. From Uche Fashola to Amaechi I doubt that there's no one of them who isn't owing the bank. Why attack Ben , abi you wan tell me say everybody for APC clean? When they went after Fayose they abruptly froze his account but Saraki's case would continue to delay till his tenure is over. Why didn't cct put saraki in detention till they finished his trial. But FFK has remained there in detention because of a judge who has neglected his duty. You people keep turning a blind eye to the happenings and pretending not to see. Calamity that would take your heads is approaching. My only advice is that you all stick to APC and Buhari when it comes. Because there will be no defection this time.

who detain fayose i dont know that the FG own and control the so called company ooo(AMCON)

rose54321:


When the financial crisis hit the US in 2008, the govt. had to bail out wall street, the alternative then meant a looming depression, massive unemployment and the likes.

Now agreed this isn't in anyway as major as that, but still if the opportunity cost of doing so is less, government can always intervene, introduce an economic incentive to assist companies from closure.

Hello seems you didn't read the post well enough... AMCON is to take over management of assets of debtors in a profitableway not shut them down

omo this man don enter en own b dat ooo

All those guys are using illegal money from the govt to keep their company running..

a2personal2013:
Wahala dey ooooo. Everybody that has voiced against this government is now being pursued by one legality or the other. We are all watching in 3D googles where this will lead us to.

We have an unending list of debtors cutting across various Nigerian businesses. Why is BMB being singled out ?

Like we always say " whatever is good for Boniface should equally be good for boniyarnsh"