http://www.tribune.com.ng/25082009/news/news2.html

THE Group Managing Director of Global Fleet, Mr. Jimoh Ibrahim, on Monday, paid N3 billion by wire transfer to the Oceanic Bank International.

The bank had, in a letter dated May 18, 2009, put the total indebtedness of the Global Fleet Group at N8 billion, having acknowledged previous payment of another N3 billion between December 2008 and May, 2009.

Acknowledging the payment, on Monday, the bank, in a letter, thanked Ibrahim for his cooperation.

“The bank undertakes to refund to you any excess charges or debits on the account that is not authorised by you, or interest rate that is not in compliance with our term of loan as soon as the reconciled account is mutually agreed upon,” the bank said.

Ibrahim said his loan was performing and blamed the bank for any outstanding in the account, which he attributed to poor banking relationship.
According to Ibrahim, in 2007, Oceanic Bank, by a letter dated May 23, 2007, credited Global Fleet account with N1.98 billion, being reversal of excess charges and accrued interest on the company’s account.

He said Global Fleet had no reason to stop its relationship with Oceanic Bank, but advised the bank to be transparent.

He maintained that CBN would succeed only if it published exactly what everyone was owing and avoid computer error that had reduced some
people’s debt.

Jimoh Ibrahim Will Repay His Oceanic Bank Loan Today

Hhhhmmmm the fear of being publicly disgraced as finally made them started to pay up their debts

Hhhhmmmm the fear of being publicly disgraced as finally made them started to pay up their debts

shut up jo

cant you see that the guy is a performer

haley:

shut up jo

cant you see that the guy is a performer

I think you have lost your sences by telling me to shut up.
If he was a performer, why has he not fully liquidated his debt before now.

Hmm, I wonder what's going to happen to the bank he withdrew 3 billion naira from in one day.

If he was a performer, why has he not fully liquidated his debt before now.

Many businesses rely on revolving credit facilities.  Their debts are serviced, not "fully liquidated.

shut up jo

cant you see that the guy is a performer

I doubt if this haley guy really know who they call a performer.A person that is regarded as a multibillionaire but unfortunately could not service his debt of mere 14billion naira and had to wait for kasala to burst before he could come out to say he wants pay.what kind of performer is that, please expantiate further abeg

@haley. Please, learn to use words properly.

Good morning Mr Jimoh and the likes.
Hope the others that have not paid will wake up to the task.

Seun:

Hmm, I wonder what's going to happen to the bank he withdrew 3 billion naira from in one day.
Many businesses rely on revolving credit facilities.  Their debts are serviced, not "fully liquidated.

I gathered he paid it in foreign currency

He is still owing and should be ready to be arrested by EFCC.

[size=16pt]Recalcitrant Debtors James Ibori…… Others wants Sanusi’s Head [/size]

http://www.huhuonline.com/index.php?option=com_content&view=article&id=233:recalcitrant-debtors-james-ibori-others-wants-sanusis-head-&catid=1:latest-news&Itemid=18

Ooppps, i thit he said he was owing before.

Ooopps , i thot he said he was not owing before.

Seun:

Hmm, I wonder what's going to happen to the bank he withdrew 3 billion naira from in one day.
Many businesses rely on revolving credit facilities. Their debts are serviced, not "fully liquidated.

me think it could be from their foreign accounts.

Borrowing money offcourse from another bank to repay already accumulated dept,

vicious circle indeed.

jimoh idiot,
please pay all as the money belongs to the poor masses.
do not be decieved, obj is no more the president of nigeria.
sale your private jet and pay up the loan.
the stupid bank mds must be made to pay for their stupidity. what collateral did these idiots present to the banks to get these huge sums of funds?
at least, yar adua and the present efcc have seperated themselves from the media crazy ribadu and obj.
the waziri of a woman in her ability to shake the likes of bode george, borrishade, kayode, dangote, otedola, and jiloh ibrahim has proved that she as a woman can do better than some men eg ribadu

So this means that all this so called rich men are nothing but debtors, o ma se o, and they will be forming boss

Jimoh baba i believe you, make u try offset your coy's debts.


But make una help masses.

i wish i fit get small bank loan, my business too go survive and step up.

Lol

Slavery = ownership of whatever the slave have see i have 50,000 in oceanic bank you have 500,000 and many account even 5,000 multiply by 300,000 Nigerian = loan given to so called billionaires or slave master.

Is it there money or yours.

think  billionaire = slave master=oppressing=your money.

i want people opinion.

@MrCrackles

Am just been comical.

But Jimoh Ibrahim has shown character by servicing his loans since December.

Perhaps this whole imbroglio prompted the latest deposits.

But is it a criminal to take a loan and fail to pay at appropriate time even when assets worth the loans can be confiscated and transformed into cash.

I think the CBN did so much showmanship for allowing Ibru and Akingbola to abscond before there declarations of the bank's Executives criminal activities.

But i won't mind a loan from any of the banks to resurrect my business.

i want to buy a yatch, who knows which bank i can get loan from to secure this yatch urgently?

chidichris:
i want to buy a yatch, who knows which bank i can get loan from to secure this yatch urgently?

All the loans involved in this debacle were used for business purposes.
That's why people are saying the approach the government is taking is too high-handed.

The banks purposely gave out those monies to the players to
invest into the stock market, unfortunately that market itself crashed.

mogentle:

http://www.tribune.com.ng/25082009/news/news2.html

THE Group Managing Director of Global Fleet, Mr. Jimoh Ibrahim, on Monday, paid N3 billion by wire transfer to the Oceanic Bank International.

The bank had, in a letter dated May 18, 2009, put the total indebtedness of the Global Fleet Group at N8 billion, having acknowledged previous payment of another N3 billion between December 2008 and May, 2009.

Acknowledging the payment, on Monday, the bank, in a letter, thanked Ibrahim for his cooperation.

“The bank undertakes to refund to you any excess charges or debits on the account that is not authorised by you, or interest rate that is not in compliance with our term of loan as soon as the reconciled account is mutually agreed upon,” the bank said.

Ibrahim said his loan was performing and blamed the bank for any outstanding in the account, which he attributed to poor banking relationship.
According to Ibrahim, in 2007, Oceanic Bank, by a letter dated May 23, 2007, credited Global Fleet account with N1.98 billion, being reversal of excess charges and accrued interest on the company’s account.

He said Global Fleet had no reason to stop its relationship with Oceanic Bank, but advised the bank to be transparent.

He maintained that CBN would succeed only if it published exactly what everyone was owing and avoid computer error that had reduced some
people’s debt.

Jimoh Ibrahim Will Repay His Oceanic Bank Loan Today

mogentle:

http://www.tribune.com.ng/25082009/news/news2.html


According to the business mogul, he will make the payment in foreign and local currencies to a total sum of N8 billion at the corporate headquarters of the Oceanic Bank Plc in Lagos on Monday August 24, 2009.

[url=https://www.nairaland.com/nigeria/topic-313856.0.html][b]

Why not pay all as promised.

Let them pay up asap!

@ Seun, pls note this news breaking story - Which business purpose?? Lets not even talk of the Ibori fiasco, et al!! Business ko, me sef wan open gift shop Any chance I can get N13bn?

http://www.234next.com/csp/cms/sites/Next/News/National/5448760-146/story.csp

The N13 billion nanny  



It has come to this.In the free-for-all that was our banking system, even a nanny could obtain a N13 billion loan from one of our top banks. Especially if she is the owner's nanny.

Such was the good fortune of Nanashetu Abdulai, who served Cecilia Ibru as nanny to her eldest son, Oboden.

In our banking system, this was enough collateral to persuade Oceanic Bank, which is now on life support and has been taken over by the Central Bank, to extend billions to Nanashetu. At least officially.

Ms. Abdulai, 51, also known as Nanashetu P. Bedell, received what is now being called the "nanny loan" based solely on her relationship with Mrs. Ibru, who is now a fugitive from the law and is wanted on fraud, money laundering, and stock manipulation charges by the Economic and Financial Crimes Commission. As at May 31, the loan was non-performing, according to a list released by the Central Bank.

Attempts to reach Ms. Abdulai at both her office and by telephone were unsuccessful.

Ms. Abdulai secured the loan as the sole director of Circular Global International Ltd. The company turned up as debtor number 13 on the CBN list of debtors to Oceanic Bank, is also the chief executive of the upscale corporate and household gift items suppliers called Nanshet Limited. Its head office is on Akin Olugbade high street of Victoria Island in Lagos.

Nanshet Ltd trades in corporate and household gift items and supplies majority, if not all, of Oceanic Bank's corporate souvenirs and staff insignias. Mrs. Ibru's signature neckties are samples of Nanshet's supplies.

Nanshet Limited started business in 1990 selling only Christian Books and Gifts. It now specialises in the procurement and distribution of electronics, household items and corporate gifts on a wholesale and retail level. It opened an American office in 2002

Ms. Abdulai was the nanny to the former Managing Director of Oceanic Bank and the first son of Mrs. Ibru, Oboden Ibru, but has become a close member of the family.

"She is generally called Sister Nana within Oceanic Bank," said one source. Another source referred to her as "Cecilia Ibru's twin sister," establishing the close relationship which Ms. Abdulai shares with the Ibru family and also alluding to the influence that Ms. Abdulai wields away from the domestic domain of the Ibru family to the corporate quarters where public funds are held.

"It is conventional wisdom in Oceanic that the fear of Sister Nana is the beginning of wisdom," said an insider who pleaded anonymity at Oceanic Bank Headquarters on Ozumba Mbadiwe Street on Victoria Island, Lagos.

No. 4 Akin Olugbade Street is just a white, plain looking one-storey building that is unremarkable in every aspect apart from sharing a fence with an Oceanic Bank branch. It looks more like a residential building than an office space. In a section of the compound, heaps of ceramic tiles are packed amid large wooden boxes.

Nanshet Mega Stores sell luxury gift items, including flower vases, ceramic plates, steel trolleys and large aluminium and enamel pots and dishes. It is located at the ground floor of City Mall directly opposite the entrance of the mall.

You can post the nanny story as a new thread.
Personally, I find it distasteful.
All rich people started out somewhere, that is not what matters.

@ Seun

Yeah, I'm sure all rich people did. But can you imagine how rich we would all be if we were able to secure 0.01% of such amounts based on our being faithful depositors, as opposed to having ALL our deposits faffed out to single persons just because? I bet you by now, we would all have employed at least three graduates each. Multiply that by the number of people with small businesses just needing N5m to run at full speed - imagine just how far that would go!!