@recognise
Wetin be this naa, you for just give excerpts/summary or snopsis and point us to a link or the source. You will obviously let a good article lose it's content by this lengthy post. I struggled to keep concentration till the end. Good information all the same.

Quote from Borat
This guy owes billions, but what he doesnt know is he can offset his debt with just 100 naira!
How? Buy a strong rope. . .!

Ol' boy this your contribution na wa o. But who wan die now?

emiemi:

Quote from Borat
This guy owes billions, but what he doesnt know is he can offset his debt with just 100 naira!
How? Buy a strong rope. . .!

Ol' boy this your contribution na wa o. But who wan die now?

But u mean say life still dey sweet this debtor of man?. I no fit owe that kind money and still dey alive. I for don commit,

the banks kept borrowing him funds even when they knew he was owing. He didnt owe that much in a day. The banks are to blame

We need more of this people in this nation!


Nigeria Is Blessed.

What is he using all these money for?

Nigeria, there is corruption in every thing. God help us.

He was fronting for the banks. He was useful to the banks.

You can actually say that he was 419'd by the banks because they achieved their objectives (200% rise in share price).

The bank directors then offloaded their own shares unto the market making massive killings.

Meanwhile, Mr Ololo would be under obligation not to offload the mopped up shares until the directors have finished their 'business'.

So here's Mr Ololo stuck with these massive debts and over-priced stock, hoping to cook up some magic with these ingredients;  , perhaps sell at some point in the future (with that amount of volume, only a marginal increase is needed)?;  , perhaps collaterize the debts and move them on?;  ,  or perhaps just wait for the loans to be written off as bad debts leaving him stock rich (I understand Nigeria has some interesting laws regarding unserviced debts)?

However when time was called, guess who was left with his pants down?

This was most definately no Madoff or Buffet ting!

It was market manipulation of the most extreme kind, coupled with blatant insider trading!!!!!

na ordianry 3million i need to further my education in USA,these idiots told me to bring my father's birth certificate.So shameful.They will all rot in hell
AMEN

what crime has this man committed? rendering a service or for owing.
being a debtor is not a criminal offence worst case charge him with bankrupcy.
you all should let Ololo be. he simply took a business risk which has backfired i believe that is bad enough.

he cannot be compared with manddof anyday.
QED

nna i weep for naija o
so this is why you cant get money for real buisness deals
from banks in naija.
they will ask you for co and co laterals that they know you will not have
and incase you have, they can even ask for your grandmama exray!

opuro:
nna i weep for naija o
so this is why you cant get money for real buisness deals
from banks in naija.
they will ask you for co and co laterals that they know you will not have
and incase you have, they can even ask for your grandmama exray!

Ololo was a phenomenon, AMCON must have taken over his debts

A great gambler he was, understanding the trick..

Where is he now?