Follow Author on Twitter: https://twitter.com/thewilfreds

So many 'youths' for one reason or the other has been trolling the Guaranty Trust Bank of recent. The trend is closely related to media claims that the plentif has been ordered by the Court to pay some lumpsum amount to one of her customers, CEO of Innoson. I write this brief note in full disclaimer that I am in no way connected to, a party to or associate with any of the parties in the lawsuit. However, it is imparative to air my view as a Nigerian youth, especially at a time when people no longer offer rational thoughts or make efforts to clarify online information before trading them. Again I make this post because I am a Nigerian, an Entrepreneur who may some day be in a position or need to borrow from a financial institution in my own country, not limited to GTB. Again, because same bank safeguard my meagre treasury. And once again, because I am Igbo - from where the CEO takes an origin; with a view that what affects one affects others.

History all over the world is littered with instances of debts - people owe banks and banks owe people. Currently, Nigeria as a country is on a debt of about $64USD billion (Obi & Bruce, NABNTV, Tampa, FL., US., 2018). Remember that Nigeria and the Paris Club announced a final agreement for debt relief worth $18 billion and an overall reduction of Nigeria's debt stock by $30 billion. On April 21, 2006 under president Obasanjo, Nigeria's books were cleared of any debt. Ten years later (2017), our government have accumulated another $66USD billion (value in naira? Do your maths: 66,000,000,000 x 360 = ? ). The United States of America owes $145.8 trillion (852% of GDP) debts as at first Quarter of 2014. Surprising? I guess not. The world itself is sitting on a $164 trillion debt (Bloomberg, April 18, 2018). So why all these? To teach you that debt isn't necessarily that strange or such a big stigma - some of you spewing the hate speeches probably owe one or two persons, so why the fuse?

Business is a gamble and that is why at every point in time one party's win is the other's loss. So if Innoson's business deals with GTBank has gone wrong, let the duo sort their matters and save the public of biased reporting, name-calling and social media fights. Our country is filled with enough tribal and regional hatred already to worry about two giants like GTB and Innoson!

I read a post on Facebook of someone preaching that friends and families should close their vaults at GTBank as soon as they can. According to the writer, he is worried that the bank might go broke and insolvent if it pays N12bn as allegedly ordered by the court. As expected that post got many shares, likes and thorns of comments with many #LazyYouths applauding the poster, while the rest shared mockery unequally between Innoson and the bank. What nonesense!

Such thoughts that GTBank will go broke if it has to pay out N12bn is laughable, and goes to show how shallow some of our youths think. Why not take a look at the bank's profile below? How can a bank with N3.16 Trillion Assets (as at 2016) turn insolvent by spending N12bn for a deal gone wrong?

Guaranty Trust Bank Financial Profile:

Revenue ₦ 278.5 billion (2014)
Operating income: ₦ 210.8 billion (2014)
Net income: ₦ 98.7 billion (2014)
Total assets: ₦ 3.16Trillion (2016)

Source: https://en.wikipedia.org/wiki/Guaranty_Trust_Bank

NB: I saw a GTBank financial statement here (https://quotes.wsj.com/NG/GTB/financials). I am not sure how authentic that is, but its worth taking a look at.

This post is a call on our youths to not only use their head but also visit [url]GIYF.COM[/url] before rushing to argue on topics. Whatever might have gone wrong between those having court case is their case, and even if we have to meddle in, we can do so intelligently, constructively and with reasoning, without reducing anyone or bowing to tribal sentiments. Over all, whoever owes who should settle debts with whoever is owed.

And before you comment to attack me, first GET YOUR PVC! Follow Author on Twitter: https://twitter.com/thewilfreds

Impressive. We joke with everything in this country

People should thread softly

�� OP

I appreciate hw u nicely gave ur opinion...Op

Own a plot of land at Imiringi, Bayelsa. mail me if intrested

Thank you for this

Nice write up Prince

yomalex:
Nice write up Prince

Thanks man, how you doing? Been awhile!

StudentsNG:

Thanks man, how you doing? Been awhile!

I thank God