arresa:



Are you speaking because you are among the many Nigerians denied jobs, opportunities, public and social services like good schools, roads, hospitals, good health care and so on that this man denied Nigerians by illegally stiffing Nigerians and denying us N11 billion?

Do you eve know how many jobs N11 billion can create?

This man benefited from the same corrupt and bankrupt system he hypocritically lambaste everyday and even sef, we wont be talking about this money of GEJ did lose the last election.

It beats me how and why GEJ made this man the director of NTA while owing Nigerians such huge amount and refusing to pay, such crooked rubbish doesn't happen in lawful societies.

You are talking about jobs because people like this crooked man denied NIGERIANS jobs and better life while they live large with our money.

Please stop making silly excuses for crooks, it's discussing.

babosky2008:

I had ignored dz your myopic post initially, to start with, You have no knowledge of how governance is run. I need not dispute that your assessment or view was based on IPOB ideology. You just came to NL thinking your post will energise the born throwaway IPOB and CFB followers. If we have 3000 Ben Bruce in Nigeria, owing billions of unpaid debts , sooner or later, we would find ourselves in a precarious situation. Life is all about accepting responsibilities, Dz was the exact thing done by the Bruce They signed the court papers without prejudice. A common sense for a wailing wailer would have been praising the government of the day. Everyday cannot be business as usual as it was done under the biggest world ineffectual buffon , under him , Nigeria wealth was stollen massively.
REPENT O YE WAILERS FOR THE DAY OF PAY BACK IS GRA
DUALLY APPROACHING.

arresa:



What's this got to do with the government we voted for to look out for us doing their job.?


Law and order trumps what you are saying.

This issue is on the table because law and order didn't exist when he made the sweetheart deal with his cronies in government that looked the other way while he lived like a big boy on our money..

oyb:
With a name like just ash, it should be clear that the ops understanding of business is limited to over the counter transactions.

Silver bird is bankrupt. They are unable to meet their financial obligations.
Amcon has taken them over, and will hopefully restructure them to make them more profitable.
End of.

kayfra:


The first step in a receivership is to take stock and then resume operations.

Read about it before jumping into conclusions.

Justcash:


Silverbird is not bankrupt mister. They have not filed for one. AMCON simply shut it down because of a debt. Try not to add twists to the story.

Olumaeme:



You are very dull gworo chewing dullard, no wonder our economy is crumbling under th certificateless fool.

what he is trying to say is that, locking up a company will cause job loss and would directly affect government revenue from the 1. workers who are taxpayers 2. tax from company profit too...
The Government can just take over the business the way they did to some banks back then. PHB, AFRI, and then purnish the business owners.

use your head, use your initiative, don't just come menstruate on post on Nairaland.

Now that the place have been closed, hundreds will join the labor market, plus millions already lost under Buhari, the infrastructure in place might got damaged, which will reduce productivity when it reopens, government would loose money from tax etc.

Justcash:


What AMCON has done is to shut the businesses down, and the spiralling effect will be evident soon. They will most probably liquidate them and store the money in their accounts if BMB decides to fight on. That, my friend, is a wrong approach.

Justcash:


Last time I checked, those businesses were shut because of a debt, not for political affiliation or corruption charges. That was what I was told by the news and AMCON. All your talk about stealing and political appointments are not related to my argument.

If AMCON is to shut down a business for being in debt, they must consider the impact on factors like employment, wages and social dynamics. Two wrongs don't make a right. Unless proven otherwise, I maintain that AMCON should have found a way to get the money back without condemning the masses to further suffering.

Olumaeme:



You are very dull gworo chewing dullard, no wonder our economy is crumbling under th certificateless fool.

what he is trying to say is that, locking up a company will cause job loss and would directly affect government revenue from the 1. workers who are taxpayers 2. tax from company profit too...
The Government can just take over the business the way they did to some banks back then. PHB, AFRI, and then purnish the business owners.

use your head, use your initiative, don't just come menstruate on post on Nairaland.

Now that the place have been closed, hundreds will join the labor market, plus millions already lost under Buhari, the infrastructure in place might got damaged, which will reduce productivity when it reopens, government would loose money from tax etc.

arresa:
[s][/s]





Law and order and conducive environment brings in investments and investors while corruption and lawlessness drives them away..



Ipob logic is always upside down and corrupt logic..

Justcash:


Yes, I agree. BMB definitely needs to repay his debts. That is certain. All I am saying is that considering current negative economic dynamics, AMCON should have taken a more strategic approach to ensure that the benefits of Silverbird investments are retained for the masses, while the investor is made to pay his debt. That is actually not rocket science. They closed the businesses and are just politicizing everything as if they are hurting BMB. Do you know how many dreams died with those investments?

Olumaeme:



You are very dull gworo chewing dullard, no wonder our economy is crumbling under th certificateless fool.

what he is trying to say is that, locking up a company will cause job loss and would directly affect government revenue from the 1. workers who are taxpayers 2. tax from company profit too...
The Government can just take over the business the way they did to some banks back then. PHB, AFRI, and then purnish the business owners.

use your head, use your initiative, don't just come menstruate on post on Nairaland.

Now that the place have been closed, hundreds will join the labor market, plus millions already lost under Buhari, the infrastructure in place might got damaged, which will reduce productivity when it reopens, government would loose money from tax etc.

arresa:
[s][/s]



I wasn't talking about your meaningless and corrupt mentality ipob cries, I was taking about a corrupt public official and a fake big boy living large on public funds.

Disgusting and corrupt Igbos.

It's vacay like you people's only portion in life is to support lawlessness and corrupt and incompetent public officials..

kayfra:


And will you apologize when the businesses are reopened or sold in a few days time?

arresa:




Zero vocabulary ipob losers are boring..

paschu:
How callous.

Imagine how you respond to someone's sweat and blood.

Do you realize that Silverbird brand has been in existence for decades whereas the said loan was only taken in 2011?

Do you even know the terms of that loan? No.

Do you have details as to WHY the company defaulted? No.

Have you heard about the the concept of "hostile takeover"?, Heck I guess NO again.

Do you know if what we're seeing now is a "hostile takeover"? I guess you don't care.

Have you (or anyone in your family) ever STARTED (not managed) a sucessful business in your life? Heck NO.

So it's now clear why you would shamelessly and publicly wish that a person's investment of over 30 years should be taken over forcefully and sold quickly.

The fact that the bruce family is taking this with stride does not mean that they were guilty of anything (as folks like you want to suggest). If anything their stride just shows that they have a great sense of RESPONSIBILITY (not blame shifting) which this govt. desperately needs.

...

Has AMCON been empowered to dispose of transferred assets without seeking approval from original asset owners? Does AMCON have the authority to force companies into receivership if they fail to pay up their debt? Will AMCON lead to an improvement in domestic credit growth to the private sector? In Sweden’s asset management company, Securum, two years after establishment, GDP growth in Sweden was a positive 3.34 per cent and real credit growth was negative 6.23%. USA’s asset management company, two years after establishment, GDP growth in USA was a negative 0.93% and real credit growth was negative 2.1 per cent.

What is the basis of assessment of AMCON’s performance by the CBN in quantitative terms? How will AMCON handle conflicts of interest between creditors with different priority rights? Is there a reliable public registry in Nigeria for interests in tangible personal property? Is AMCON the only way out of Nigeria’s banking crisis? Does AMCON plan to self-perpetuate itself by taking on fresh toxic assets that may arise in the banking system during its ten-year life span? If AMCON intends to enter into a profit & loss sharing formula with the banks, what is the final decision on the ratio to be applied?

...

Ever wondered why an agreement was signed by participating banks with AMCON just in the nick of time before the year 2010 was over? The answer is not far_fetched. The inter_relationship between AMCON, Nigerian banks and the Nigerian Stock Market is far from superficial. Not surprising to us that the three non-Nigerian owned banks stayed away from the AMCON deal.”

The plan for AMCON to take up shares in banks has heightened the suspicion that those who want to take over these banks especially Union Bank, where there is no single investor owning up to five per cent of the bank shares, will use AMCON as a smokescreen to achieve their goals. It is therefore pertinent for AMCON to spell out the mode and ways these shares will be disposed of transparently at the end of its operation.

Anything short of this is to confirm the fears that AMCON was set up to dispossess some Nigerians of what they laboured to build by use of political power. Nigerians are waiting to see how AMCON will eventually dispose of these shares it will take up in the banks.

Read more at: http://www.vanguardngr.com/2011/01/amcon-shareholding-in-banks-in-whose-interest/

kayfra:


Do you know how many families are in tears due to the non performing loans? Have you ever lent someone 11 billion before with 0 repayments?

Maybe they are not deserving of the business. This is not what hostile takeover means. Go and study before attempting to sound half smart.



"A hostile takeover is the acquisition of one company (called the target company) by another (called the acquirer) that is accomplished by going directly to the company's shareholders or fighting to replace management to get the acquisition approved.'