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Skye Bank Takes Over Obat Oil Over N1.5bn Debt - Business - Nairaland

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Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Islie: 9:22pm On Nov 11, 2016
Skye Bank Plc has taken possession of the tank farms and business premises of Obat Oil in Apapa Business District of Lagos State.

Obat Oil is owned by flamboyant business magnate and Olugbo of Ugboland in Ondo State, Oba Fredrick Obateru-Akinruntan.

The bank took possession of the oil company Friday afternoon.

The development followed an October 28, 2016 ruling of a Federal High Court in Lagos over an outstanding debt to the Bank in excess of N1.5 billion by Obat Oil.

The ruling was given by Justice Jude Dagat.
There is no reaction from the company as at press time.


http://dailypost.ng/2016/11/11/breaking-skye-bank-takes-obat-oil-n1-5bn-debt/

2 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by 2know1: 9:22pm On Nov 11, 2016
shocked
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Nobody: 9:42pm On Nov 11, 2016
I thought the liquidity of skyebank was questioned some days ago.

4 Likes 2 Shares

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by darocha1: 9:57pm On Nov 11, 2016
The rich are only rich cos they are priviledge to huge loans with no collateral and little or no interest

36 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by darocha1: 9:59pm On Nov 11, 2016
Selena06:
I thought the liquidity of skyebank was questioned some days ago.

it was questioned cos of debtors like Obat oil

33 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Nobody: 10:13pm On Nov 11, 2016
Wtf? skye bank that isn't healthy trying to cure another organization. Last time they acquired Nitel, pundit has it that they were almost liquidating because of low re-capitalization before CBN came to their rescue and now again, they about repeating history.

Sometimes I feel most organizations and banks in Nigeria needs the help of Goldman sach.

2 Likes 1 Share

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Adesiji77: 5:19am On Nov 12, 2016
Hope they recover the debt...

cc: davodyguy

2 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by eezeribe(m): 6:43am On Nov 12, 2016
OK
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by davodyguy: 6:48am On Nov 12, 2016
Adesiji77:
Hope they recover the debt...

cc: davodyguy

Obat messed up

1 Like

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by davodyguy: 6:54am On Nov 12, 2016
aaronson:
Wtf? skye bank that isn't healthy trying to cure another organization. Last time they acquired Nitel, pundit has it that they were almost liquidating because of low re-capitalization before CBN came to their rescue and now again, they about repeating history.

Sometimes I feel most organizations and banks in Nigeria needs the help of Goldman sach.

Stop saying what you don't know.

People and companies like Ifeanyi Uba's capital oil, Silverbird group and Obat are responsible for the unhealthiness of Nigerian Banks.

The banks gave them loan to expand, some of them mismanaged the funds and cannot pay the banks back, hence banks collapse.

If not for Amcon that bought over NPL (Non Performing Loans) in 2010 Many banks like Union bank, UBA, First bank, Access Bank, Skye bank etc would have collapsed. Joint debt back then stood at 4trillion Naira

One thing Sanusi Lamido Sanusi did right was AMCON.

AMCON has saved thousands of Jobs, saved businesses from collapse and also saved the Nigerian economy.

I have made millions cos AMCON was set up. My firm has made money cos no bank died and AMCON gave out bail out funds to people.

That Capital Oil hasn't gone down, when they're indebted to over 50 billion naira (Still haven't paid till date) it was AMCON that paid Skye Bank, access bank and the other banks

50 Likes 6 Shares

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Generalkorex(m): 7:55am On Nov 12, 2016
kai 1 point wetin
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by casttlebarbz(m): 7:55am On Nov 12, 2016
Their own cup of Alomo bitters, not mine nor Airforce1
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by jazinogold(m): 7:56am On Nov 12, 2016
y
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Aburi001: 7:56am On Nov 12, 2016
This recession is really hitting hard shocked

THE RICH ALSO CRY grin

1 Like

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by dayleke: 7:57am On Nov 12, 2016
Wow!!!
So living large in Naija is by bank effort?
Chai!!!!
Peoples no get conscience o....

2 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by baski92(m): 7:58am On Nov 12, 2016
They never saw this coming
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by goshen26: 7:58am On Nov 12, 2016
Sanusi was right wen he said Nigeria's rich men are poor, they only live on loans...fake people everywhere

10 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by siraj1402(m): 8:02am On Nov 12, 2016
I hope this is not part of the plan to "kill" Mimiko totally, Olugbo is one of major financial backbone of MIMIKO and PDP in Ondo. Watching in 3D

3 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Rich4god(m): 8:03am On Nov 12, 2016
You no see our mumu banking industry.... Give the average Nigerian loan, dem no go gree..... Na just to dey gv only reach men and sponsor politicians during elections.

But after they will be running after the average Nigerian for deposits....

5 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Pavore9: 8:04am On Nov 12, 2016
Living large on bank loans! angry

1 Like 1 Share

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by InvertedHammer: 8:05am On Nov 12, 2016
/
Who are the real billionaires in Nigeria is a question for another day.

A lot of these folks have outstanding and unmanageable liabilities tied to corporations they own. What a heist?!
\

4 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Pavore9: 8:07am On Nov 12, 2016
siraj1402:
I hope this is not part of the plan to "kill" Mimiko totally, Olugbo is one of major financial backbone of MIMIKO and PDP in Ondo. Watching in 3D

Olugbo's indebtedness contributed to the precarious state of the bank and many workers were sacked. Using other people's money to back up Mimiko is wickedness.

6 Likes 1 Share

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by chigoizie7(m): 8:10am On Nov 12, 2016
Please they should recover their money.


Naija banks has been messing up big time.

Most of them give out loans without collaterals , once u are a big name, gbaam, u get am, same way they are killing the economy with this dollar thing.

Once u are rich, u request for fx at official or interbank rates, then go back to sell at inflated rates in the black markets.


Seriously, Naija banks needs thorough smacking by both efcc,dss and cbn.

2 Likes 1 Share

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by elotajohn1(m): 8:13am On Nov 12, 2016
]I don't know if Banks are using JUJU anytime they give out loan, mehn the money won't yield anything before you know the time for payment will be due and trust Banks, your doorstep will turn to their Tourist destination, thank God for Sergey Mavrodi

8 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Exponental(m): 8:20am On Nov 12, 2016
Skye Oil......

2 Likes

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by InyinyaAgbaOku(m): 8:22am On Nov 12, 2016
The really rich people in Nigeria are igbo people

1 Like

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by grandstar(m): 8:27am On Nov 12, 2016
It is self righteous to simply blame the rich borrowers

Lending rates are too high in Nigeria. For a nation with a low budget deficit for about a decade, lending rates should be in single digits
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by Judolisco(m): 8:33am On Nov 12, 2016
Take over anything I no wan hear say my money sky oh
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by wemmieslim(f): 8:33am On Nov 12, 2016
They never expereedit.
Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by GreatManBee: 8:46am On Nov 12, 2016
darocha1:
The rich are only rich cos they are priviledge to huge loans with no collateral and little or no interest

1 Like

Re: Skye Bank Takes Over Obat Oil Over N1.5bn Debt by PaulIdu: 8:47am On Nov 12, 2016
aaronson:
Wtf? skye bank that isn't healthy trying to cure another organization. Last time they acquired Nitel, pundit has it that they were almost liquidating because of low re-capitalization before CBN came to their rescue and now again, they about repeating history.

Sometimes I feel most organizations and banks in Nigeria needs the help of Goldman sach.

If they don't receive their debt from chronic debtors like Obat oil how will they survive

4 Likes

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