Right now the share value of DAAR communication isn't worth anything due to the crash in the capital market he would have gone to court to apply for bankruptcy based on his account balances then he would submit it to the bank so they would stop pursuing into the ceiling of his house and it would also place a restriction on the bank for further harassing him until he can start to pay its not normally practiced in nigeria because of the social stigma that's associated with it, its normal though it oesnt mean he can't afford to feed himself NO, but for the sake of them not giving him a heart attack while trying to recover their money

Who is 'rumoured' to be bankrupt? Raymond Dokpesi or Daar Communications? I just de laff. This is the power of a Limited Liability Company at work! Raymond does not run these companies as a one-man show, so if Daar Comm was 'broke', that does not make the millionaire businessman 'broke'. His personal accounts worldwide could still be overflowing with cash, real megabucks. His registered Limited Liability Company is an entity on its own. My advice? Guys, when you wanna register your biz, endeavour to go Limited as against ordinary 'one-man Enterprises'. Have a debt-free day!

Court Court, which court? Una don try, carry American style sharp sharp. I pity pple who work there and those who wasted their money on yeye shares.I warned my sister but she didn't heed.

This is why our banks are not moving forward, because borrowers leverage of the power of limited liability company to divert loans into private use, but mind you, when the law comes down heavily on the companies, the managers of the company will be held responsible. It is not fair to go borrow money from a bank in a business name and divert the same funds into private use and even divert shareholders funds into private use and at the end of the day the company is declared broke.

I am pretty sure he has not been paying salaries to his staffs.

The same goes to people who work with Zoom Nigeria mobile, aka Reltel. They have not been paid salaries for more than 8 months now, the workers are suffering and just hoping that one day e go better and they will get their salaries, please make una ask Annie Okonkwo ( the owner of Zoom Mobile) what he is doing with borrowed funds and the profits made from the enterprise called Reltel or Zoom mobile. His internet service is the worst, the company cannot even upgrade to 3G talk of 4G.

I'm out of here joooooooo.

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Stupid nairalanders!, If JIMOH IBRAHIM comes up to buy up dis AIT away from dis looming death now,
na still una go abuse and accuse jimoh of buying too many companies.!
well,i ve told my boy to stop saving most of dying companies so dat nogerians can begin to appreciate hard work!

Some nigerians are educated illiterates. How can a bank declare someone bankrupt.

DonChippy:

FYI assumption is the lowest form of knowledge. You just displayed your level of intellectual capacity. Thanks to Seun, you now have a day job. Just keep debunking lies on Nairaland and keep assuming every other Nairaland member needs your schooling.
Olodo!

You're still breathing? Don't let me catch you on the any section again giving a silly and ignorant opinion or information! Go back to the section you are known as chipmunkey. You're a carrier of false information and an embodiment of arrogance. Go and read your books!

That man has always been as broke as a Church mouse. He relies on bank loans and politicians to feed and get by.

Where is the source of this information?

DonChippy:

FYI assumption is the lowest form of knowledge. You just displayed your level of intellectual capacity. Thanks to Seun, you now have a day job. Just keep debunking lies on Nairaland and keep assuming every other Nairaland member needs your schooling.
Olodo!

Hello Incorrigible, answer the poster below:

it is well:

Some nigerians are educated illiterates. How can a bank declare someone bankrupt.