Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,211,268 members, 8,011,379 topics. Date: Sunday, 24 November 2024 at 12:58 AM

AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt (24966 Views)

AMCON Takes Over IBEDC / ₦69.4 Billion Debt: AMCON Takes Over Jimoh Ibrahim’s Assets / N3.6 Billion Debt: AMCON Takes Over Bao Yao Firms In Abuja & Calabar (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by kingsmecca(m): 11:47am On Jul 03, 2020
That's what AMCON is known for but when these monies are recovered they will not tell Nigerians. AMCON, NNPC, NDDC, CBN, NPA, Custom etc., needs to be Audited.

4 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Righteousness89(m): 11:47am On Jul 03, 2020
SarkinYarki:
Toke Makinwa is a badluck Marine spirit !!!! She has finished this great man

Immorality is a Crippler.. it has been destroying destinies since the days of Samson the Strong..

12 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by ZKOSOSO(m): 11:49am On Jul 03, 2020
Another Southern Business gone/hijacked to Fulani-AMCON
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by djon78(m): 11:50am On Jul 03, 2020
Sweetgoodie:
awon Forbes billionaires
na dem
audio


Truly na them
Audio billionaires
There are very many of them
Fake life, fake business

6 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by omooba969(m): 11:51am On Jul 03, 2020
Is that not Toke Makinwa's former sugar daddy? grin

That girl don wreck the old man with her kpekus but him family warn am o.

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by brainshaker(m): 11:52am On Jul 03, 2020
Nigerians and short sightedness if apple was a Nigerian company they for don chop am fall,check the biggest companies in Africa Nigeria companies they struggle see weyting puna don cause

2 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Karlifate: 11:53am On Jul 03, 2020
SarkinYarki:
Toke Makinwa is a badluck Marine spirit !!!! She has finished this great man
Toke Makinwa is a Scorpio.

3 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by ednut1(m): 11:55am On Jul 03, 2020
Toke Toke needs a new daddy
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by bigpicture001: 11:57am On Jul 03, 2020
Is that one still a breathing firm..? With 240billion debt..?
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Karlifate: 12:00pm On Jul 03, 2020
Latidoh1:
God help me o. I dey plan enter Oil and Gas
U wan add womanising join?

2 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Edosir(m): 12:03pm On Jul 03, 2020
Atonja and borrow pose.. cheesy cheesy grin
djon78:



Truly na them
Audio billionaires
There are very many of them
Fake life, fake business

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by selfmadeboss: 12:06pm On Jul 03, 2020
hush puppi can pay it off for him

2 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by selfmadeboss: 12:07pm On Jul 03, 2020
SarkinYarki:
Toke Makinwa is a badluck Marine spirit !!!! She has finished this great man
i just read abut the story now. i swear if the man was my father or brother and a bitch like toke was doing this , na to arrange for her assassination fast. hoes like this dont deserve mercy

4 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by HIGHESTPOPORI(m): 12:08pm On Jul 03, 2020
They should pay up. Meanwhile sub and upgrade your dstv and gotv.
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by dalass(f): 12:14pm On Jul 03, 2020
SmartProf:
N240 billion loan? Wow...even if AMCON decides to also take over the company owner and his family, it will be justified. This debtor na legend

That's how banks will be lending billions of naira to one flamboyant man's company.... Imagine one company having 240billion debt.... No wonder our banks have shaky foundations..

Amvon will take over and mop up an individuals debt with tax payers money as those people know how to use pur legal system to their advantage

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by MANNABBQGRlLL: 12:15pm On Jul 03, 2020
selfmadeboss:
how is she related to this? i never followed the story

Toke Makinwa was one of those ladies shouting Independent women online. She will post daily how she does not need a man. She will post designer bags and say hard work pays. She posted a new range rover sport and said men are worthless as she just bought herself a new SUV via hard work.

Later, this man sons came out to warn her to leave their papa alone. That was where everything busted. They posted all the designers and range rover their father bought for her. She was busy deceiving young ladies that men are worthless while collecting excess money from this old man

Now you have the gist

20 Likes 1 Share

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by PigTormentor: 12:15pm On Jul 03, 2020
SarkinYarki:


They will auction it to Buharis cronies for pittance

It's very obvious that you think everyone is as corrupt and morally bankrupt like your demi God Goatluck Jona-daft and his gang of thieves.

3 Likes 1 Share

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by brightology3: 12:18pm On Jul 03, 2020
SarkinYarki:
Toke Makinwa is a badluck Marine spirit !!!! She has finished this great man
grin
SarkinYarki:
Toke Makinwa is a badluck Marine spirit !!!! She has finished this great man
lol

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by eikeem(m): 12:22pm On Jul 03, 2020
There are levels to this debt thing sha. grin

240 billion naira debt!

4 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Arkmanbuddy(m): 12:22pm On Jul 03, 2020
Hope he has enough assets to get up from this.
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by selfmadeboss: 12:23pm On Jul 03, 2020
MANNABBQGRlLL:


Toke Makinwa was one of those ladies shouting Independent women online. She will post daily how she does not need a man. She will post designer bags and say hard work pays. She posted a new range rover sport and said men are worthless as she just bought herself a new SUV via hard work.

Later, this man sons came out to warn her to leave their papa alone. That was where everything busted. They posted all the designers and range rover their father bought for her. She was busy deceiving young ladies that men are worthless while collecting excess money from this old man

Now you have the gist
i just read it now and thanks for further enlightening me . i think i saw where she posted that soon men will start washing plates or something like that. if i was one of his sons, i will have snipped her

3 Likes 1 Share

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by emkz: 12:26pm On Jul 03, 2020

Pan Ocean accessed funding from the banking system to facilitate expansion plans which were based on sound investment advice and projections. The funds were invested in assets which are verifiable and within Nigeria. We remain committed to working with our financial partners to resolve all outstanding issues.”

I would be curious to understand the specifics of this investment. Were they real estates or oil and gas assets? Were the assets volatile in the short, medium and long term? Did he discuss with financial advisors to properly understand when it was feasible to pay up? The bane of many poorly-run businesses in Nigeria is that the CEOs borrow to fund consumption. See, someone like Dangote borrows to fund production. I am sure if we see Dangote's company debt profile, we'd scream. How can any sane human being borrow 240 billion without anything to show for it?

3 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by vioment: 12:27pm On Jul 03, 2020
Bad management.
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by hush15: 12:27pm On Jul 03, 2020
SmartProf:
N240 billion loan? Wow...even if AMCON decides to also take over the company owner and his family, it will be justified. This debtor na legend

Which legend? E plenty pass Nigeria debt? O or e reach one subsidy money wey them dey collect! The only problem with big man is to let one naira comot for their big money na problem. If he has been doing business and making profit, he suppose they reduce that debt small small but to comot that 1naira na problem. Will be robbing Peter to pay Paul, the debt will eventually disappear while his own personal wealth remains untouched.... Before you know, na to turn politician begin dey embezzle
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Brushstrokes20: 12:29pm On Jul 03, 2020
Toke makinwa's aristo!

Toke cashed out big time...u must get sense by force!

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by kolaaderin: 12:30pm On Jul 03, 2020
FirstSon01:
Debts are very risky.
Las Las they'll auction the company to one of themselves at peanuts price and take over the company.
I just pity the man and his family
You do not need to pity him, yes he deserves more of the punishment. If you know you know.

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by martineverest(m): 12:33pm On Jul 03, 2020
Toke makinwa have wrecked this man
Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by SarkinYarki: 12:33pm On Jul 03, 2020
PigTormentor:


It's very obvious that you think everyone is as corrupt and morally bankrupt like your demi God Goatluck Jona-daft and his gang of thieves.

Buharis cronies bought Polaris bank and 9 mobile through Amcon , where were u Then?

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by jodeci(m): 12:33pm On Jul 03, 2020
He still owns Newcross Petroleum.

2 Likes

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by hush15: 12:33pm On Jul 03, 2020
vioment:
Bad management.

Exactly... Na those one man business where the business is all that funds the man's lifestyle and that of his family. They just use company to front but na enterprise them dey run.

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by Vatod(m): 12:34pm On Jul 03, 2020
Latidoh1:
God help me o. I dey plan enter Oil and Gas
likewise me, I done get two bottle of gas, remain the oil lol

1 Like

Re: AMCON Takes Over Festus Fadeyi's Pan Ocean Assets Over N240b Debt by vioment: 12:37pm On Jul 03, 2020
hush15:


Exactly... Na those one man business where the business is all that funds the man's lifestyle and that of his family. They just use company to front but na enterprise them dey run.



Dat kyn tn.

(1) (2) (3) (4) (Reply)

Tony Elumelu Reacts To Xenophobic Attacks In South Africa / US$1 Now Exchanges for N241: Where Is Buhari? / Greedy Seller's Sudden Increase Sparks Tension (video)

Viewing this topic: 1 guest(s)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 32
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.