jadakiss213: God Bless you.How can you be a successful business man and not owe at one point.I used think Nairaland was a gathering of intelligent and enlightened people.smh

Can't you people read to understand or is comprehension an issue??

1. There is a big problem when you cannot afford to pay back your loans
2. There is a big problem if your debt to asset ratio doesn't make sense.

If you borrow, pay back. If you can't pay back you shouldn't be allowed to keep borrowing. Its not rocket science.

In Nigeria, these people do not pay back and banks keep giving them loans because of their names.

If the company attempts to liquidate these assets who really has money to buy the excesses of these men and women??

If I am a billionaire living in South Africa, why do I want to buy a polo team with horses or a used private jet from a former millionaire from Nigeria?

Pls let's think before we type.

We should thank goodluck jonathan,it shows he is giving his team free hand to make decisions and work,from N5000note failed plan to blacklisting companies.i thought journalist insinuate that otedollar was use by presidency during facruk case,how come he dnt shield him?if tinubu or atiku coy was among pipo will say is politica.goodluck u dey try

We are tired of all these rubbish.

Imagine the billions they own the banks.

What were the collatrals for these loans?

What is the penalty to be faced?

If same happens to an average 9ja man, the useless banks will render the man useless.

In lagos, d offence for not putting on crash helmet is 3years inprisonment.

lozanni:

This is why the country needs a credit bureau through which you can ascertain a company or individual debt profile before you decide whether to advance such entity more loan or not.

Nigeria has more than 3 credit bureaus but the banks are complacent and corrupt in taking credit decisions after obtaining relevant information from the bureaus on the credit status of an entity.

They will all go back to CAC to register new companies and the business will continue as usual. They are in business to destroy Nigeria Economy for personal gains, God Help Nigeria!

So na gbese all these so called big messs dey take dey survive and we dey call dem rich people,I no know say I beta pass dem well well

Emmykeyz: "Banks Stopped From Lending To Otedola, Dantata, 417 Others" Oh they're 419 in total?! iSee!

149 of the 419 got National Honours Awards.

A-ZeD:
This is a bad move cos more people will lose their jobs while the owners of the companies involved will not be affected.

So how good will it be when you continue lending to debtors

okpara ugo:

So how good will it be when you continue lending to debtors

There is a loop whole in the system, until that loop is plugged there will always be in trouble. Like someone said earlier, all Otedola has to do is borrow by proxy and the banks will give them. While all this is happenning, innocent workers will lose their jobs.

Cultured: If Zenon oil ,which Otedola directly own , owes N192.423 billion debts to the banks , it automatically means that he does not has up to N100,000 as a personal money .

You get brain die. THREE GBOSA for you, GBOSA! GBOSA!! GBOSA!!!

obowunmi:

Can't you people read to understand or is comprehension an issue??

1. There is a big problem when you cannot afford to pay back your loans
2. There is a big problem if your debt to asset ratio [/b]doesn't make sense.

If you borrow, pay back. If you can't pay back you shouldn't be allowed to keep borrowing. Its not rocket science.

In Nigeria, these people do not pay back and banks keep giving them loans because of their names

the boldened should have read [b]if your debt to asset ratio is terrible. 'doesn't make sense.' is like trying to hide something.

Seems you actually know something

A-ZeD:
This is a bad move cos more people will lose their jobs while the owners of the companies involved will not be affected.

You are very correct. These guys will try to sabotage the economy. That is their stock in trade. They will really try to stifle things.

loans are normal business format use in surviving large companies,hw do you expect them to stay in business when they are temporary broke.

Its no wrong acquirin loan 4rm banks,bt offers seem 2 b 4 mogul wu has moni 2 bribe der way 2 d bank managers desk. If moni cud by death d rich wud hv lived....

A mystery here:
Otedola's bank debt.   N192.4 billion
Otedola's Gift to Lawan   $620,000 (about N99 million)
Nawa for these 'rich' Nigerians. :

Billioniare.... Borrowniare.... Na wa oh!

A good one frm CBN I hope they keep that up that is hw it should b,all those company's should naw b pay as u use,na only God go punish all of them

This country has bright future but the self centre big men we have in this country are the cause of our problems.
How can the banks pay worker when one man is oweing the that huge amount of money without servicing it.
Only will help us the masses. GOD WILL SURELY ANSWER POOR MAN PRAYER ONE DAY

amaham: I saw crossriver state blacklisted as a debtor state that means civil servants in the state are in deep shit.this what abandonment of tinapa could cause

Was Tinapa a viable investment? Another abandoned white elephant project.

Hmmm. Nigeria I hail, because dem go punish Otedola others too must suffer? This is SAD, reminds me of a yoruba adage, ti elese ban je iya, olododo na ma ba je nibe.SANUSI LAMIDO SANUSI. Take am easy o

i have a question ,isnqwert there a link between this move by cbn and the failed or suspended new note saga?
why is this move from cbn coming barely 72hrs gej suspended the introduction of new notes ?just wondering

Otedola, Dantata + 417 others = 419

What a figure to arrive at.
419 Millionnares!

okpara ugo:

149 of the 419 got National Honours Awards.

^
Abracadabra!

why will cbn intervene in a customer banker relationship when the banker and the customers are not complaining.we run a capitalist economy and money goes to where it gets the highest price even at a risk.sanusi appears to be less than we think he is.

Ring the alarm there are thieves in govt houses. Ajibole ole ajibole ole. Before dey say na mickey mouse thief. It's just a way to divert ppls attentn. This story came up when sanusi was busy hacking down banks in the name of restructuring. These set of names were listed to have contributed to the di
Dismal performance of banks, the effect still with us today.

Those companies abroad service and pay their debt.but the case is different in nigeria they would want to use politics to can cancel their gbesse.sanusi well done joor.after pipo weh no sabi anyfin go they criticize you.

only a fool will fall 4 this scam. . .Nigeria=house of commedy

obowunmi: The few that have access to Bank loans are called "billionaires" but we know that their wealth isn't real.

Next thing we know, Forbes will feature some of these buffoons on the front page. How can a company with little to no assets be owing this much money?

Indeed, something is wrong with Nigeria.

OH SHUT UP, JEALOUS FOOL. Making wild allegations and reaching wild conclusions will get you nowhere.

obowunmi:

Do these people have viable assets? I think you are spewing rubbish - no disrespect.

And you know they don't have 'viable assets' because you sleep with them and tour their offices night and day abi? This is how you fools just come in here and type GARBAGE out of your ignorance and jealousy.