Longeria: Oooh yeah, sophisticated region. Baba Suwe, sophisticated drug baron, BABAFEMI sophisticated terrorist, Otedola, sophisticated thief.


Next topic.

eddiebruk: This jet should not be sold to any Nigerian Individual, because another thief will still be the one to buy it, Rather the FG should sell it to an International Personnel, or company, or even one of our own Airliners.

Fantacy1: Wat is dis Private Jet madness all about in dis country. FG shud pls ban d use of private jet in dis country no mata who is involved appart from d Presidential jet. All dis jet moni can turn our economy around. Hw can sm1 in such a huge debt go and buy 2013 manufactured private Jet? Fool

Longeria: Oooh yeah, sophisticated region. Baba Suwe, sophisticated drug baron, BABAFEMI sophisticated terrorist, Otedola, sophisticated thief.


Next topic.

Lastman2: after they will b claimin to b d richest guys in naija

Fantacy1: Wat is dis Private Jet madness all about in dis country. FG shud pls ban d use of private jet in dis country no mata who is involved appart from d Presidential jet. All dis jet moni can turn our economy around. Hw can sm1 in such a huge debt go and buy 2013 manufactured private Jet? Fool

ideylaff: Femi has never said he was not going to pay, it was just a bad investment that went wrong hence the big hole he fell into. He lost a huge amount of money during his fight with Dangote and Aliko bn the shrewd and calculative man used his influence on the stock Exchange to run down AP shares... that was wia Femi missed the turning....

"hat Zenon, after taking a syndicated loan from five banks, was adversely affected by the global economic downturn in 2008.
Zenon lost N75 billion when oil prices fell from a peak of $147 a barrel, N40 billion through currency devaluation, N25 billion in the capital market, and N50 billion as a result of accrued interest and penalties charged by the banks on the facility

Also, a CBN official, who confirmed the settlement reached between AMCON and Otedola, described it as a positive development, stating: “Given that he (Otedola) had the highest exposure to the banking system and posed a systemic risk, we are pleased that he has settled his obligations.”

"


The aircraft was preordered long b4 2013, it just happened to be delivered and manufactured in 2013.

This can happen to any business man who does not hedge well and someone who has a huge risk appetite... Femi did not know that the stock market is a cartel biz up till now as well. But hes wiser now I guess

Just an off key example The guy that owns Samuel Etos former team (anzhi makhachkala) is a Billionaire and he just started to sell the prized assets of his assembled monopoly football team cos he lost a lot of money a few weeks ago

This is d game of the big boys... u borrow big, u must be a able to service your debt or have enough assets to hedge the loss if u make a bad turn.

Hes still keeping his head above water anyway "Forte Oil, which Otedola maintains large shareholding, is part of the consortium, Amperion Power Distribution Ltd, which last week emerged as the preferred bidder for Geregu Generating company, with a bid of $132 million."

Sorry ooo Ote$.... softly softly Femoooooooo

ideylaff: Femi has never said he was not going to pay, it was just a bad investment that went wrong hence the big hole he fell into. He lost a huge amount of money during his fight with Dangote and Aliko bn the shrewd and calculative man used his influence on the stock Exchange to run down AP shares... that was wia Femi missed the turning....

"hat Zenon, after taking a syndicated loan from five banks, was adversely affected by the global economic downturn in 2008.
Zenon lost N75 billion when oil prices fell from a peak of $147 a barrel, N40 billion through currency devaluation, N25 billion in the capital market, and N50 billion as a result of accrued interest and penalties charged by the banks on the facility"


The aircraft was preordered long b4 2013, it just happened to be delivered and manufactured in 2013.

This can happen to any business man who does not hedge well and someone who has a huge risk appetite... Femi did not know that the stock market is a cartel biz up till now as well. But hes wiser now I guess

Just an off key example The guy that owns Samuel Etos former team (anzhi makhachkala) is a Billionaire and he just started to sell the prized assets of his assembled monopoly football team cos he lost a lot of money a few weeks ago

This is d game of the big boys... u borrow big, u must be a able to service your debt or have enough assets to hedge the loss if u make a bad turn.

Sorry ooo Ote$.... softly softly Femoooooooo

Longeria: Oooh yeah, sophisticated region. Baba Suwe, sophisticated drug baron, BABAFEMI sophisticated terrorist, Otedola, sophisticated thief.


Next topic.

lordnammy: Hehe they didn't even allow him to enjoy †ђξ jet a bit. But wait this man is owning this huge sum and went ahead to buy expensive jet, I can cee he is not a gud business guy, he is a thief, can't he look at †ђξ likes of Ibeato and emeka offors who upon all their money they don't have private jet

ideylaff: Femi has never said he was not going to pay, it was just a bad investment that went wrong hence the big hole he fell into. He lost a huge amount of money during his fight with Dangote and Aliko bn the shrewd and calculative man used his influence on the stock Exchange to run down AP shares... that was wia Femi missed the turning....

"hat Zenon, after taking a syndicated loan from five banks, was adversely affected by the global economic downturn in 2008.
Zenon lost N75 billion when oil prices fell from a peak of $147 a barrel, N40 billion through currency devaluation, N25 billion in the capital market, and N50 billion as a result of accrued interest and penalties charged by the banks on the facility"


The aircraft was preordered long b4 2013, it just happened to be delivered and manufactured in 2013.

This can happen to any business man who does not hedge well and someone who has a huge risk appetite... Femi did not know that the stock market is a cartel biz up till now as well. But hes wiser now I guess

Just an off key example The guy that owns Samuel Etos former team (anzhi makhachkala) is a Billionaire and he just started to sell the prized assets of his assembled monopoly football team cos he lost a lot of money a few weeks ago

This is d game of the big boys... u borrow big, u must be a able to service your debt or have enough assets to hedge the loss if u make a bad turn.

Sorry ooo Ote$.... softly softly Femoooooooo

AMCON to sell N4.1bn jet, dismisses ownership rumours



The Asset Management Corporation of Nigeria has put up a Bombardier Challenger 605 jet for sale but claims the aircraft does not belong to any of its debtors.

AMCON communicated the sale through an advertorial signed by its Head of Corporate Communications, Mr. Kayode Lambo, on Friday.

Saturday PUNCH conducted a check on a prototype of the plane onaircraftcompare.com and learnt it costs $27m (about N4.18bn).

There have been media reports that the aircraft was a private jet confiscated from oil mogul, Femi Otedola, following a settlement of transfer of assets he made as a result of his alleged indebtedness to AMCON.

There have also been reports that the plane might have been taken over from Capital Oil and Gas Industries’ Chief Executive Officer, Dr. Ifeanyi Uba, over his alleged N48.014bn debt.

But when our correspondent spoke with Lambo on Friday, he said all these were rumours.

“The plane belongs to AMCON and now we have decided to sell it off.

“It does not belong to either Otedola or Uba. It is an investment,” he said.

It will be recalled that AMCON had, in another advertorial, announced the taking over of Uba’s Capital Oil and Gas over his alleged indebtedness.

Saturday PUNCH noted that the advertorial for the taking over of the oil company appeared alongside that of the proposed sale of the jet.

Fantacy1: Wat is dis Private Jet madness all about in dis country. FG shud pls ban d use of private jet in dis country no mata who is involved appart from d Presidential jet. All dis jet moni can turn our economy around. Hw can sm1 in such a huge debt go and buy 2013 manufactured private Jet? Fool