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Lister Oil Insists First Bank Officials Forged Documents by dipoolowoo: 4:46pm On Sep 24, 2016
By Modupe Gbadeyanka

Earlier this month, First Bank Nigeria reacted to media reports that its officials forged signatures of late Arisekola Alao and that of his son, Ismaila, on the Deed of Guarantee of Lister Oil limited, owned by the late Ibadan-based businessman.

First Bank had in a statement described the reports as not only false, but a deliberate attempt to tint the facts.

But weeks later, Lister Oil has reacted to the issue, maintaining that the bank officials tampered with the said documents.

In a statement issued Saturday, September 24, 2016, by counsel to Lister Oil Limited, M.A. Banire & Associates, which was made available to Business Post, the company emphasised that the bank is trying to mislead the public on the issue.

M.A. Banire & Associates admitted that the matter was already in court because First Bank had tried to hijack “Lister Oil Limited’s tank farm without cause and without a pending valid order of court.”

It also said the police have already “established a prima facie case of forgery of the signature on the purported deed of guarantee.”

“The attention of the management of Lister Oil Limited and the Estate of Alhaji Abdulazeez Arisekola-Alao has been drawn to a report, published in the Daily Post Newspaper Publication of September 7, 2016.

“In the report, First Bank of Nigeria Limited is credited with saying that Lister Oil Limited and the Estate of Alhaji Abdulazeez Arisekola-Alao are First Bank of Nigeria Limited’s debtors who are employing media tactics to scuttle the bank’s debt recovery efforts.

“Although Lister Oil Limited is currently in court with First Bank of Nigeria over the bank’s hijacking of Lister Oil Limited’s tank farm without cause and without a pending valid order of court, it is imperative to notify the general public that First Bank of Nigeria Limited has never granted any banking facility to either Lister Oil Limited or the Estate of Alhaji Abdulazeez Arisekola-Alao.

“Also, Lister Oil Limited and the Estate of Alhaji Abdulazeez Arisekola-Alao did not execute any deed of guarantee in favour of First Bank of Nigeria as alleged by the bank.

“Contrary to the denial issued by First Bank of Nigeria, the Nigeria Police Force has recently established a prima facie case of forgery of the signature on the purported deed of guarantee, which emanated from First Bank of Nigeria purportedly to guarantee a facility granted to Lister Flour Mills Limited, a company that is distinct from Lister Oil Limited.

“Therefore, it is untrue that the allegations of forgery perpetrated against Lister Oil Limited by the Bank and its officials are baseless.

“This release is essentially to correct the misleading information being peddled by the Bank and set the record straight,” the law firm said.

http://www.businesspost.ng/2016/09/24/lister-oil-insists-first-bank-officials-forged-documents/

1 Like

Re: Lister Oil Insists First Bank Officials Forged Documents by recievesense: 5:09pm On Sep 24, 2016
Banks go dey video customers very soon when them dey apply for loan.

19 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by Pavore9: 5:22pm On Sep 24, 2016
I don't trust our banks.

3 Likes 1 Share

Re: Lister Oil Insists First Bank Officials Forged Documents by Eleniyan15: 8:43am On Sep 25, 2016
ENDTIME
Re: Lister Oil Insists First Bank Officials Forged Documents by Dottore: 8:45am On Sep 25, 2016
Ok
Re: Lister Oil Insists First Bank Officials Forged Documents by Adesiji77: 8:50am On Sep 25, 2016
Hmmm
Re: Lister Oil Insists First Bank Officials Forged Documents by wiloy2k8(m): 8:53am On Sep 25, 2016
ok
Re: Lister Oil Insists First Bank Officials Forged Documents by maleeks(m): 9:03am On Sep 25, 2016
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late

2 Likes 1 Share

Re: Lister Oil Insists First Bank Officials Forged Documents by ecolime(m): 9:06am On Sep 25, 2016
Pavore9:
I don't trust our banks.
Why?

1 Like 1 Share

Re: Lister Oil Insists First Bank Officials Forged Documents by Einl(m): 9:09am On Sep 25, 2016
People take loans. When it is time to pay back they will start dodging.

You could take the loan abi...?means you must also pay it back.

Just follow the case...98% the bank will win.

5 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by Nobody: 9:14am On Sep 25, 2016
super story

2 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by Aliyeous(m): 9:15am On Sep 25, 2016
Hmm confusing
Re: Lister Oil Insists First Bank Officials Forged Documents by mustaphagreens(m): 9:19am On Sep 25, 2016
Ok
Re: Lister Oil Insists First Bank Officials Forged Documents by gbemoh: 9:20am On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late

Owned first bank ?? He never owned close to 60 percent either.
He topped the debtors list released by Cbn years ago. Businesses generate capital by getting financial aid, risks taken differs. Get your facts right.

25 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by Bugatie(m): 9:22am On Sep 25, 2016
Pavore9:
I don't trust our banks.

Lister oil company are the ones trying to play smart here.

6 Likes 2 Shares

Re: Lister Oil Insists First Bank Officials Forged Documents by tabaski: 9:26am On Sep 25, 2016
Make dem just pay the loan jare and stop wasting time going to court. It's a known fact that all and all our so call wealthy men dey use bank money for their businesses ni. Yeye debtors

6 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by sucess001(m): 9:34am On Sep 25, 2016
gbemoh:


Owned first bank ?? He never owned close to 60 percent either.
He topped the debtors list released by Cbn years ago. Businesses generate capital by getting financial aid, risks taken differs. Get your facts right.


How come his daughter was a director with firstbank?
Re: Lister Oil Insists First Bank Officials Forged Documents by habiham: 9:35am On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late
Dangote owe bank who's Arisekola forget that...

7 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by davodyguy: 10:31am On Sep 25, 2016
This is serious.

I'm an insider and don't know which side to belong to.

I valued that Tank farm in June, 2016 and I'm not really sure who owns it

2 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by davodyguy: 10:33am On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late

Forget that.

Ifeanyi Uba is owing Amcon 90 billion Naira and all his asset can't even clear the debt in 10 years.

Ben Bruce is owing 11 billion. Naira and all his assets is not worth more than 2 billion.


Zenon terminals 1 &2 belonging to otedola, has been sold to the ibru family, all due to debts by zenon

When insiders speak, we know what we are saying

11 Likes 1 Share

Re: Lister Oil Insists First Bank Officials Forged Documents by Spidermon: 10:38am On Sep 25, 2016
If common man comes for a loan for a good biz idea, they will ask you to bring your ancestors and your birth placenta with mad conditions.

God punish devil.

5 Likes 1 Share

Re: Lister Oil Insists First Bank Officials Forged Documents by davodyguy: 10:51am On Sep 25, 2016
Spidermon:
If common man comes for a loan for a good biz idea, they will ask you to bring your ancestors and your birth placenta with mad conditions.

God punish devil.

That's not true. Don't say what you don't know

There's mortgage
There's loan

MFBs grant facilities to SMES
PMI grants mortgage to would be owners
Fidelity and Diamond bank grants facilities to SMES daily

4 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by dmjinc(m): 11:21am On Sep 25, 2016
davodyguy:
This is serious.

I'm an insider and don't know which side to belong to.

I valued that Tank farm in June, 2016 and I'm not really sure who owns it
the matter is beyond you.... lipsrsealed lipsrsealed

1 Like

Re: Lister Oil Insists First Bank Officials Forged Documents by ajbabs(m): 11:42am On Sep 25, 2016
First Bank is known for dubious deals. They can even credit a corporate account unsolicited loan(s). I am talking from experience. First Bank PLC (Challenge branch, regional headquarters), you are being watched.

1 Like

Re: Lister Oil Insists First Bank Officials Forged Documents by Lakeland4321: 11:43am On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late
You cannot say he owned 60% of FirstBank because according to their annual reports Oba Otudeko is the highest shareholder of about 5%. Let us read and investigate properly before saying things based on hearsay and beer parlour gossip.

8 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by helovesme(f): 11:49am On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late

This has to be the most ignorant comment I have ever read on this section of nairaland!!

Clearly, you have no idea on how the "rich" finance their businesses.

7 Likes

Re: Lister Oil Insists First Bank Officials Forged Documents by Danny287(m): 1:05pm On Sep 25, 2016
well the truth will soon be known sooner or lata





this land is not for sale
Re: Lister Oil Insists First Bank Officials Forged Documents by Spidermon: 1:15pm On Sep 25, 2016
davodyguy:


That's not true. Don't say what you don't know

There's mortgage
There's loan

MFBs grant facilities to SMES
PMI grants mortgage to would be owners
Fidelity and Diamond bank grants facilities to SMES daily

Without collateral for a young upstarting agro allied professional?
Repayeable within what time frame?
How much interest is payable?

Oga sir dont say what you dont know also
Re: Lister Oil Insists First Bank Officials Forged Documents by careidon: 1:20pm On Sep 25, 2016
SIMILAR thing happened to Peter Ololo - banks (and some other companies too) came to him with financing to be repurchasing their own shares (thereby increasing the price and making the company look healthy) and also dump/sell to his clients WITH THE SAME SHARES AS COLLATERAL

It should be a simple case of selling the held collateral if the money is not paid back, right? Only in this case the banks themselves over-valued their useless shares when selling to the public so its not worth the cash taken from treasury after the false price and market itself crashed, BUT THEY DON'T WANT TO LOSE A DIME and have kept claiming Ololo owes them. Did he misappropriate the money for something else apart from the shares? NO. Let them just sell the shares held as collateral na, they won't, because its worthless paper now.


@ davodyguy - as an insider, you would be able to analyze that this is just bankers (GTB & First Bank) acting like cow boys that they really are... the GTB guys approached him to buy the First Bank shares because he was truly a big shareholder (not this claim he came to take loan from them) normally to resell - rem the blind speculation games going on then; they provided funds and held some of his 1st Bank shares as collateral/guarantee; the bank was to manage the deal (rise in share prices, take their profit and give him his profits too) but when share prices went south as market crashed, they pulled their monies with his and claimed he is owing them without giving him his share of profits or report how the transactions was managed when prices was going up as planned - they just wanted to cover their tracks (on a form of margin loan wahala without stop limit)!
Both parties went into a silly and highly speculative deal (against lending to real sector o), now one party - the bank made money and refused to share with the other. But doesn't want to share in the loss after the price crash that happened.

Alao not being highly literate might not have gone through all their fine lines or signed documents now implicating (personal gurantee).

@Pavore - you are right not to trust Banks o. Bankers are people that won't tell me to my face they can't finance my deal yet be smiling & wasting ones time doing useless meetings/documentations.
Lesson: beware when bankers comes to you at home to give you any freebies.


read other sources
http://societynowng.com/Adenuga-Alleged-To-Be-Behind-Arisekola-Travails-With-GTBank
http://www.informationng.com/2014/09/court-halts-sale-of-arisekolas-assets-over-n7bn-debt-owed-gtbank.html


@Lakeside - you won't believe Otudeko, Afonja and others fronted for this Alao as Chairmen at different times.

2 Likes 1 Share

Re: Lister Oil Insists First Bank Officials Forged Documents by Lifestone(m): 1:31pm On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late
just make sure you don't swear
Re: Lister Oil Insists First Bank Officials Forged Documents by gbeseun(m): 2:02pm On Sep 25, 2016
maleeks:
someone somewhere is practically unclean in his or. her dealings, the arisekola I. knew was far too rich to owe first bank, as a matter of fact he owned first bank, cuz he was as at then the largest shareholder of over 60 percent, in the mean time, I still find it difficult to believe, I do. not want to say they are trying to take an advantage simply because he was not educated and of course late
Talk what u know, ask dangote brothers how much he is owning union bank and access bank and add it to your claim.

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