[size=17pt]Security forces slam travel ban on bank debtors [/size]
By Elor Nkereuwem


Oil executive, Jimoh Ibrahim, who is the chief executive of Global Fleet Industries Ltd, found himself dealing with a new set of issues on Thursday in Abuja, when federal authorities informed him to shelve his planned business trip abroad because his name has been listed on a new travel advisory that security agents issued on Wednesday.

Top security officers told NEXT in Abuja that the advisory was initiated as “a measure to prevent some of the very bad debtors from escaping,” adding that “some of the debtors are really owing so much that they can afford to run away and abandon whatever they have in the country.”

Mr. Ibrahim and 200 other individuals, including top businessman, Azeez Arisekola Alao, were barred from travelling until they clear their names in the N746 billion debt owed the five ailing banks that the Central Bank of Nigeria said accounted for more than 90 percent of the funds drawn from the CBN’s emergency expanded discount window, and had exposure to more than 50 percent of the credit to both the capital markets and oil marketing sectors.

Mr. Ibrahim whose family left for the United Kingdom on Wednesday without him, gave a different twist to the travel ban in a phone interview last night, saying it’s not a ban targeted at him but a general advisory that offered a window of ease for those who seek clearance from their banks. “It’s not just me. The CBN asked all the people whose names were published by the CBN not to travel.” He said adding that “The instruction is that if you want to travel, you have to obtain clearance from your bank.”

Mr. Ibrahim refused to say if he was at the airport Thursday, but he claimed that his pilot merely took his aircraft for servicing and that the aircraft is due back this weekend. “My pilot has taken the aircraft for servicing. He left Lagos for London today (Thursday) and will be back by this weekend. The aircraft is in Luton airport,” Mr. Ibrahim stated.

He said: “Nobody stopped me from travelling. In fact, I will be in England next week and nobody will stop me.”

Who issued the directive?

But in Abuja, federal agencies and law enforcement units at the core of the investigations traded excuses on Thursday, unwilling to accept responsibility as to who initiated the travel ban.

Mohammed Abdullahi, spokesman for the Central bank of Nigeria said “the notice is not from the CBN. The issue is with the EFCC. Maybe you should confirm from the EFCC,” but Femi Babafemi, spokesman for the EFCC, told NEXT that “there is no official statement from the EFCC.” NEXT sources also gathered that the State Security Service [SSS] denied issuing the advisory, pointing fingers at the EFCC and the CBN as the agencies to clear the air.

Airport authorities also claimed ignorance about the advisory. “We are not aware of any such advisory,” said Sam Adurogboye, spokesman for the National Civil Aviation Authority.

Following the recent regulatory action of the Central Bank of Nigeria on the five banks, the CBN requested defaulting customers of the affected banks “to pay without further delay their indebtedness, failing which the banks will take all appropriate legal actions to ensure repayment.”

To save the banks from going under, the CBN fired all their chief executives and injected an initial N420 billion life line to keep them alive.


http://234next.com/csp/cms/sites/Next/News/National/5455570-146/story.csp

Before nko?where dey wan run go?

^^ So now they even have private pilots and jets!

What else do you expect.

but come to think of it, do we have the security wherewithal to ensure that any of these debtors does not leave this country.

what if they decide to go through our porous border, say, to Cotonou. who will stop them?

i am sure if any police officer per chance spot them in the process of fleeing, such police officer will request for his own share of the CAKE to maintain sealed lips. TRUST NIGERIAN POLICE

abi dem wan run?

Weather they ban or not, they will still live the kind of life they live before. By the way, if anyone of them one to travel out, they will do it by dressing like middle east people and go through the borders. They have people who can sneak them out.

Is better to leave them to run of the country intead of them remain here and dey still more money, yeye people

And the drama keeps unfolding,

he is even talking about private jets and pilots, his jet should be confiscated, till he pays the last penny he owes, gosh!, the guy is just full of himself, so disgusting.

hw is this possible? I dont think it can ever be possible considering the list of debtors.

Another madness.
only in Nigeria will someone be owing and now lose his/her freedom of movement.
Before the secure such loan, you telling me, no collaterals on ground? if they do, what happened to the collateral? why cant they just seize them and get the money back?
What will stopping them from travelling do, would the produce the money?

lawrence83:

And the drama keeps unfolding,

he is even talking about private jets and pilots, his jet should be confiscated, till he pays the last penny he owes, gosh!, the guy is just full of himself, so disgusting.

    @lawrence83, i agree with you. Mr jimoh's both private and "public" jets should be confiscated cos that debtor talks from both sides of his mouth. In one instance he said he was only owing N8billion, in another he said he is a "creditor" to oceanic bank

Mr. Ibrahim refused to say if he was at the airport Thursday, but he claimed that his pilot merely took his aircraft for servicing and that the aircraft is due back this weekend. “My pilot has taken the aircraft for servicing

He said: “Nobody stopped me from travelling. In fact, I will be in England next week and nobody will stop me.”

  Why is it that Jimoh Ibrahim doesnot make SENSE? Infact he is DULLEST of all the business executives i have ever come across.

SEE DEBTOR SELF DEY BOOST!

good for them

koolchicco:

^^ So now they even have private pilots and jets!

How will you friend in good financial position dash you billions of naira and you wont acquire a jet.

Fhemmmy:

Another madness.
only in Nigeria will someone be owing and now lose his/her freedom of movement.
Before the secure such loan, you telling me, no collaterals on ground? if they do, what happened to the collateral? why cant they just seize them and get the money back?
What will stopping them from travelling do, would the produce the money?

He talk true o

Oya put them all in JAIL pending further investigations

my own is that without a loan a company will have a step back.