The publisher of Leadership Newspapers and promoter of Banana Republic Limited, Mr. Sam Nda-Isaiah, has petitioned the Central Bank of Nigeria (CBN) Governor over an alleged defamation of his character by Enterprise Bank Limited. He also vowed to sue Enterprise Bank.

The commercial bank had last week Monday published Banana Republic Limited among its delinquent debtor.

But Nda-Isaiah, in a petition to the CBN Governor, called for an investigation into the loan granted to him by the bank. He explained that in 2013, the food and hospitality firm, where he is the chairman, approached Enterprise Bank for a facility for the expansion of its business into Maitama District of Abuja and the construction of a 5-star hotel in Guzape, Abuja, on a 1.4 hectare hilltop prime location.

According to the politician, the bank then advised that the firm should apply for a facility to enable the company to expand into Maitama first before proceeding with a different application for the 5-star hotel.

Banana Republic Limited then proceeded to apply for a facility of N80 million for the new branch in Maitama and then engaged an international consultancy company to commence a feasibility study on the 5-star hotel project, he said.

“We placed the 1.4 hectare hilltop land in Guzape worth more than N2billion as security for the N80 million facility since it was the same bank that would also handle the hotel project anyway. The loan was promptly approved by the bank because it was considered a good project.

Read full story
http://monitor9ja.com/2015/08/bank-debtors-list-nda-isaiah-petitions-cbn-to-sue-enterprise-bank-for-defamation/

really

Corruption flows in the veins of every NIGERIAN
Quote me!!!
Corruption flows in the veins of every NIGERIAN

Asol k

Sue and be sued.