Boss, I agree with you but competent valuation happens in sane countries. A lot of fraudulent activities going on in our banks.

nativedoctor:


The loans taken were based on a competent valuation of the property. Banks will not give you a loan on a property of less value

nativedoctor:


The loans taken were based on a competent valuation of the property. Banks will not give you a loan on a property of less value

that's a lie

My brother, I agree with the first and third building. I think the second building won't worth more than 50m. You know better sha cos I don't live in Owerri.
80 + 50 + 80 = 210m. The biz owner still makes some profits from AMCON. Let's assume the original loan is 350m, and 90m is interest accrued. The man may have used the 350m loan to make some profits but intentionally refuse to pay back. The biz owner knew the worst case scenerio is to seize those buildings while he has many hidden buildings elsewhere. These rich guys are playing games with our money. The rich are getting richer.

obstead200:

Oga, those buildings are in choice locations. Even under distress sale, none of those buildings will fetch less than 80 million.

I live in Owerri so I should know their worth

so seizing a CRAP property is big news ?

Golan007:
Just look at the environment.

The owner does his business (wholesale drink, Nigeria Breweries, Coca-Cola etc) at the old Okigwe rd building)

frog12:
so seizing a CRAP property is big news ?

lol

saajus:
Can they recoup the money with these three wretched-looking buildings in Owerri? Na poor people dey suffer for this country. Some officials in our banks will allow these wealthy biz owners to take Billions of Naira loan with collateral not worth 1/3 of the loan.

AMCON na scam.

The lands are well sited, demolition and erecting a good structure could earn them back their money on a long-term.

And what will be the faith of the occupiers? That's is not there business ba?

emillysmigael:
When AMCON comes after you... Nothing can save you

Because they're God? They lost a case to my family. They're into illegal stuffs too and are not always on the right side of the law.

mdchikezie:


STORY FOR ODUDUWA, AND THIS MAN IS MOVING FREELY AND DOING HIS BUSINESS BACK TO BACK.
TELL ANOTHER JOKE BRO OR AT LEAST SAY WHAT YOU KNOW

The man you quoted is right

Ifeanyi Ubah is a fraud and a chronic debtor

DexterousOne:


The man you quoted is right

Ifeanyi Ubah is a fraud and a chronic debtor

HE'S A WISE BUSINESS MAM FROM ANAMBRA, YOU CAN SAY WHAT YOU LIKE,
AND FEDERAL GOVT IS NOT BLIND TO SEE ANYTHING HE'S PERPETRATING.

HE ISN'T TOO BIG FOR NIGERIA TO CLAMP DOWN AND OBVIOUSLY HE'S AN IGBO MAN AND IT MAKES IT EASIER JUST LIKE THEY DID TO IBETO CEMENT.

HE'S A WISE BUSINESS MAN AND THAT'S FACTS.

mdchikezie:

HE'S A WISE BUSINESS MAM FROM ANAMBRA, YOU CAN SAY WHAT YOU LIKE,
AND FEDERAL GOVT IS NOT BLIND TO SEE ANYTHING HE'S PERPETRATING.

HE ISN'T TOO BIG FOR NIGERIA TO CLAMP DOWN AND OBVIOUSLY HE'S AN IGBO MAN AND IT MAKES IT EASIER JUST LIKE THEY DID TO IBETO CEMENT.

HE'S A WISE BUSINESS MAN AND THAT'S FACTS.

You obviously know nothing about the subject matter on the ground
All sentiments :-○

No need going further with you
Just do a more thorough research on the man you are praising

I'm a victim of this seizure,the worst is that most of us just renewed our rent last month

Amcon in Action

DexterousOne:



You obviously know nothing about the subject matter on the ground
All sentiments :-○

No need going further with you
Just do a more thorough research on the man you are praising

I AIN'T PRAISING NOBODY, HE AIN'T GIVING ME SHIT.
JUST SAY AND WRITE WHAT YOU ARE SURE OF.
CAN'T YOU SEE HIS BUSINESS PROWESS? HAVEN'T YOU SEEN HIM DIVERSIFYING IN OTHER AREAS WHERE NONE HAS THOUGHT OF I.E WANTING INCORPORATION WITH LEICESTER CITY.

HE ISN'T TOO BIG FOR NIGERIA TO CLAMP DOWN IF HE'S BEEN BAD.
HE'S SIMPLY BUSINESS WISE AND THATS FACTS.

SAY WHAT YOU KNOW AND NOT WHAT YOU FEEL OR WHAT YOU HEARD

ONLY IF WE CAN RESPECT AGREEMENT.

It will save us from all this seizures.

fecosequence:
I'm a victim of this seizure,the worst is that most of us just renewed our rent last month

Relax, they are negotiating and will end in your favor

Kekereekun123:
Amcon is should be disbanded. The assets seized cannot repay those loans and no one would buy these house as it was over inflated during loan negotiations and fear of takeovers later. The rich just dey scam 9ja banks dey go

Those properties are sited in choice locations. Each of those buildings can sell for up to 100million naira

PerfectlyPerfect:

Those properties are sited in choice locations. Each of those buildings can sell for up to 100million naira

na you go buy am Given the history. No one will buy it. There are two rigs in cms seized by first bank and now taken over by AMCON. No one had bought it since 2014.

ujoatu:

Relax, they are negotiating and will end in your favor

I pray o

saajus:
My brother, I agree with the first and third building. I think the second building won't worth more than 50m. You know better sha cos I don't live in Owerri.
80 + 50 + 80 = 210m. The biz owner still makes some profits from AMCON. Let's assume the original loan is 350m, and 90m is interest accrued. The man may have used the 350m loan to make some profits but intentionally refuse to pay back. The biz owner knew the worst case scenerio is to seize those buildings while he has many hidden buildings elsewhere. These rich guys are playing games with our money. The rich are getting richer.

Interesting