aysometin:

Arisekola Alao has no business borrowing money, he's got no business skills!!

illusion2:

The list is a comedy of errors

MrCrackles:

In as much as i agree with you that Arisekola is daft and doesnt know fuc.k all, i still dont think you borrow money only to do business!
It is the duty of the bank to assess your credit worthiness, the reason why you need a loan and if you will be able to repay!
You could borrow money for any other reason apart from business but as long as you are able to pay back, most banks will lend

aysometin:

Mccrackles,
I had no idea o!!thanks. I actually thought huge loans were given out as capital for reasonable business ventures that the banks are sure would yield profit.
That means the banks own the majority of the blame, due to greed and corruption they give out loans to whoever, whether he has the ability to pay or not.

LadyT:

The question is when did they actaully start paying it back!

frankkky:

before we all jump to conclusions i am sure the banks had their reasons for giving out these loans,these are proffesionals lets not forget,right now the world is in the middle of a great recession so things like this are bound to happen,even in the advanced world,bad bank debts are all over the place,just as the western world has learned lack of proper conttrol over the banks can lead to things like this,having said the way out of this is to call the debtors and find out how they intend paying back these loans,use all legal means for those who are not willing to payback,instead of publishing names which may yeild nothing at the end of the day,and dont forget inability to payback a bank loan is not a criminal offence but a civil one(at least in the western world where i live)

LadyT:

The list is full of people who are stinking rich there is no excuse for them not to return every single naira they owe!
They deserve to be named and shamed

To borrow billions on Naira in Nigeria you don't need to have a collateral. Just throw a party under any guise, hire a muscian to sing your praise and ensure Ovation magazine etc cover the party. Go to any bank ask the manager for loan, if he ask for collateral, you just ask him "don't you know me" the poor manager will ask his deputy who will say 'Oga so you don't know chief?, he was the one that Kwam 1, KSA, Osita Osadebe, Dan Maraya Jos, Oliver De Queo etc sang his praise., Ovation even cover his grandmothers wedding last week. No more question asked, loan approved. It is that simple even foreign nationals secure huge loans because they know 'chief'

This is the list of debtors of only 4 banks, wonder if the rest of the bank debtors are published. It is now clear that 1% of the population controls 99% of the wealth. God help poor man in Nigeria.

mightlove:

I wonder what the hurry was for so much he did not remember to do his homework well before coming to the public.
Well, lets sit back and watch as more people come up.