Chai!

Five(5) Trillions

aremuforlife:

Best way to go, these are people who are holding the masses ransom.

must u quote everything

jasmine1600:
Depts that will still be re looted.
Abacha loot
Danzieni loot
Dansuki loot
Ikoyi dollars
Yet nothing on ground.

Igbos and propagandas

Keep spreading fake news

https://www.dailytrust.com.ng/fact-check-did-bill-gates-publicly-rebuke-buhari-nigerias-leaders.html

Bravo,my fearless and courageous presido.

There are cases where the courts can legally remove the veil of incorporation in order to expose and punish individual offenders. In the end,the courts may judge each case on its own merit.

FarahAideed:
So what's the essence of incorporation? I know people with low IQ will applaud this but this is very wrong ..There is a reason why companies are Incorporated and once Incorporated every company becomes a distinct individual before the law and assumes the identity of an entity. AMCON has no right to go after personal accounts of promoters of a company but can buy over debt and takeover the equity and assets of a company whose debt it has bought over .. For those asking is that how people will run away with bank loans please see answer to that below :

Ans: Its the onus of the bank to perform quality due diligence and risk assessment before going into a creditor debtor relationship with any Incorporated entity .

Pavarottii:

nobody can totally service his her company's loan... Buhari will just scatter this country... him that he is owing 24trillion... if they decide to collect it by force... won't he eventually sell Nigeria?

Borrowing to Foster growth and development is not bad, if The great America are to pay back it's debt it will take 40 years of paying $1billion daily to do so, similar case goes for most top economies in the world.

We had a recession and the only way to get out of it was to spend out of it and you don't spend money you don't have you have to borrow. We should be less concerned about the borrowing and focus more on it's sustainability and utilization. For instance if we borrow to finance 2nd niger bridge or Lagos/ibadan express that's good borrow but if we use it for recurrent that's bad borrow.

I disagree with the notion that nobody can entirely service their loans many businesses in Nigeria like coscharis are serving their loans to maturity. Some people have made it a career to borrow and not pay back those are the once Amcon is after.

FarahAideed:
So what's the essence of incorporation? I know people with low IQ will applaud this but this is very wrong ..There is a reason why companies are Incorporated and once Incorporated every company becomes a distinct individual before the law and assumes the identity of an entity. AMCON has no right to go after personal accounts of promoters of a company but can buy over debt and takeover the equity and assets of a company whose debt it has bought over .. For those asking is that how people will run away with bank loans please see answer to that below :

Ans: Its the onus of the bank to perform quality due diligence and risk assessment before going into a creditor debtor relationship with any Incorporated entity .

Thank you jare. The only sensible post I have seen here.

jasmine1600:
Depts that will still be re looted.
Abacha loot
Danzieni loot
Dansuki loot
Ikoyi dollars
Yet nothing on ground.

You're destined to be negative and pessimistic.
Nigeria will progress. It is you and your family that will never progress. Bloody bigot.

aremuforlife:

Best way to go, these are people who are holding the masses ransom.

Is it d 5t that is being owed that is holding d masses to ransom or d people that will recover d money like they recovered Abacha loot& still pocket it?

beardedboy:


You're destined to be negative and pessimistic.
Nigeria will progress. It is you and your family that will never progress. Bloody bigot.

How will Nigeria progress?

jasmine1600:
Depts that will still be re looted.
Abacha loot
Danzieni loot
Dansuki loot
Ikoyi dollars
Yet nothing on ground.

Please always remind us with these

[/quote][quote author=lexy2014 post=81070081]

Is it d 5t that is being owed that is holding d masses to ransom or d people that will recover d money like they recovered Abacha loot& still pocket it?

5t will go a long way to help the masses if well spent into necessary infrastructures and social amenities.

gabicon:


Borrowing to Foster growth and development is not bad, if The great America are to pay back it's debt it will take 40 years of paying $1billion daily to do so, similar case goes for most top economies in the world.

We had a recession and the only way to get out of it was to spend out of it and you don't spend money you don't have you have to borrow. We should be less concerned about the borrowing and focus more on it's sustainability and utilization. For instance if we borrow to finance 2nd niger bridge or Lagos/ibadan express that's good borrow but if we use it for recurrent that's bad borrow.

I disagree with the notion that nobody can entirely service their loans many businesses in Nigeria like coscharis are serving their loans to maturity. Some people have made it a career to borrow and not pay back those are the once Amcon is after.

baba you really know how economy and finance work.

i respect you...

FarahAideed:
So what's the essence of incorporation? I know people with low IQ will applaud this but this is very wrong ..There is a reason why companies are Incorporated and once Incorporated every company becomes a distinct individual before the law and assumes the identity of an entity. AMCON has no right to go after personal accounts of promoters of a company but can buy over debt and takeover the equity and assets of a company whose debt it has bought over .. For those asking is that how people will run away with bank loans please see answer to that below :

Ans: Its the onus of the bank to perform quality due diligence and risk assessment before going into a creditor debtor relationship with any Incorporated entity .

What are the conditions for lifting of veil of incorporation?

davodyguy:


Even if they sell Capital Oil, it wouldn't still be enough to Pay Ifeanyi Ubah's debt.

He owes a debt in the region of N120 Billion and the market value of all his assets is less than that

What, how did the banks advanced him such a huge amount of money

Draconian law. A company is different from its Directors and shareholders. Why pierce the veil of incorporation on grounds of debts of the company.

Y'all should get ready to welcome thousands back to the unemployment market look at the kind of policy a President is making, did this man even suck his mother's breast

FarahAideed:
So what's the essence of incorporation? I know people with low IQ will applaud this but this is very wrong ..There is a reason why companies are Incorporated and once Incorporated every company becomes a distinct individual before the law and assumes the identity of an entity. AMCON has no right to go after personal accounts of promoters of a company but can buy over debt and takeover the equity and assets of a company whose debt it has bought over .. For those asking is that how people will run away with bank loans please see answer to that below :

Ans: Its the onus of the bank to perform quality due diligence and risk assessment before going into a creditor debtor relationship with any Incorporated entity .

Mr high IQ, your IQ forgot to tell you that these thieves might have diverted these loans to their private individual accounts.

FarahAideed:
So what's the essence of incorporation? I know people with low IQ will applaud this but this is very wrong ..There is a reason why companies are Incorporated and once Incorporated every company becomes a distinct individual before the law and assumes the identity of an entity. AMCON has no right to go after personal accounts of promoters of a company but can buy over debt and takeover the equity and assets of a company whose debt it has bought over .. For those asking is that how people will run away with bank loans please see answer to that below :

Ans: Its the onus of the bank to perform quality due diligence and risk assessment before going into a creditor debtor relationship with any Incorporated entity .

Please grow sense. Please just grow sense immediately!!!

This is a case of practical realities on ground overriding impractical, unnecessary, dogmatic nonsense such as 'incorporation'.

You should have also pointed out that in sane environments the law is allowed to 'lift the veil of incorporation' under which criminals and unscrupulous people (including PDP people , thieves) usually hide.

This is a good move.

Deepfreezer:
Y'all should get ready to welcome thousands back to the unemployment market look at the kind of policy a President is making, did this man even suck his mother's breast

Ignorant and irresponsible crazy comment!

nedekid:

Thank you jare. The only sensible post I have seen here.

there was no sense in that comment by FarahAideed - a confirmed Buhari hater, please check yourself!

higgs:
There are cases where the courts can legally remove the veil of incorporation in order to expose and punish individual offenders. In the end,the courts may judge each case on its own merit.

You dey mind that Buhari Hating ignoramus FarahAideed

aremuforlife:

5t will go a long way to help the masses if well spent into necessary infrastructures and social amenities.

D one that those in charge of infrastructure & social amenities have, what have they accomplished with it? All d high profile seizures& Abacha loot returned, what has been accomplished with them so far?

Pavarottii:

he is scattering this country... there is almost no company that runs without debt... even America has debts... he should give them a time frame to get the money instead of this rubbish... if all this companies crumble who do u think it will affect the most? the owners or Nigerians... Buhari that is owing 25trillion... if they collect it this way ... do u think by tomorrow u won't see American. n England guards guarding our oil wells n collecting our oil till it finishes... that is also selling Nigeria...?
u av talk of the millions of job losses.
and increase in goods so they owners will make their money to pay Back.

u guys just comment like u guys do not go to school...

This is one of the most stupid comments I have ever read on NL. Rubbish!!!

Pavarottii:

he is scattering this country... there is almost no company that runs without debt... even America has debts... he should give them a time frame to get the money instead of this rubbish... if all this companies crumble who do u think it will affect the most? the owners or Nigerians... Buhari that is owing 25trillion... if they collect it this way ... do u think by tomorrow u won't see American. n England guards guarding our oil wells n collecting our oil till it finishes... that is also selling Nigeria...?
u av talk of the millions of job losses.
and increase in goods so they owners will make their money to pay Back.

u guys just comment like u guys do not go to school...

May be you should tell your lawmakers who amended the existing law.
But let me tell you why it is essential for AMCON to recover those loans by all means: AMCON bailed out the original corporations that would have gone bankrupt as a result of borrowing by those useless billionaires who would borrow money from banks with the intention not to pay back. Many banks' customers would have committed suicide if not for AMCON intervention.

[/quote][quote author=lexy2014 post=81070941]

D one that those in charge of infrastructure & social amenities have, what have they accomplished with it? All d high profile seizures& Abacha loot returned, what has been accomplished with them so far?

Are you in support that they should go without paying

aremuforlife:

Are you in support that they should go without paying

U still haven't d question I asked. U just beating around d bush. D one that those in charge of infrastructure & social amenities have, what have they accomplished with it? All d high profile seizures& Abacha loot returned, what has been accomplished with them so far?

Very wrong move by the president on corporate nigeria

maasoap:


Mr high IQ, your IQ forgot to tell you that these thieves might have diverted these loans to their private individual accounts.

The banks should have done their due diligence , risk assessment and collateral bonding properly .

Pavarottii:

he is scattering this country... there is almost no company that runs without debt... even America has debts... he should give them a time frame to get the money instead of this rubbish... if all this companies crumble who do u think it will affect the most? the owners or Nigerians... Buhari that is owing 25trillion... if they collect it this way ... do u think by tomorrow u won't see American. n England guards guarding our oil wells n collecting our oil till it finishes... that is also selling Nigeria...?
u av talk of the millions of job losses.
and increase in goods so they owners will make their money to pay Back.

u guys just comment like u guys do not go to school...

Shut up

FarahAideed:


The banks should have done their due diligence , risk assessment and collateral bonding properly .

And because of that, the money they borrowed should remain in their private accounts? That's the beauty of law my friend, everyone has got to comply. Desperate time calls for desperate solution, no hiding place for thieves