₦airaland Forum

Of what relevance is Ohaneze's endorsement? Does it even win a single polling unit?

Abeggi. Put your efforts in maintaining Igbo culture

Why are these iPobs obsessed with Osun?

It's going to be an Osinbajo Vs. Saraki race in 2023. Two Omoluabis.

Intriguing, but Pastor wins hands down

Xander85:
Your crass stupidity and wickedness is breathtaking!

You say, "he is heavily indebted and hasn't been able to pay his loan for the past couple of years is the point"! Yet earlier you stated, "i never said he dafaulted"! You see the effort it takes to maintain a lie...you forget the lie you told just a moment ago in a bid to try and wriggle out of the hole you've dug for yourself! The knob of your failed argument is that NESTOIL sold equity in OML42, and i ask, what has this got to do with anything? You would have had a case if as you explained earlier, he was forced to sell the equity to his lenders to offset the balance of the loan he's unable to pay, or that said loan was 'restructured or refinanced' as you put it! None of this is the case, yet you keep on banging on about some imagined distress to the personal fortunes and finances of ObiJackson...done out of pure hate, bigotry and bitterness! I fully understand the kind of sad individual you are: anything about Igbo success just riles you up to no end doesn't it...you just can't help yourself!

Most if not all Nigerian business moguls owe banks to differing degrees! When the problem arises is if they default on the loan taken! You have stated yourself that NESTOIL has not defaulted on their loan (ie, missed a payment or incapable of servicing the debt as agreed), yet you insist on going round and round in circles just to save face! You need to purge yourself of the bitterness and bile within you...hopefully, your quality of life can improve somewhat!

You get silly posts like this when all you are exposed to is petty trading and not complex corporate finance. I have given you different scenarios on how these debt instruments are handled without being his CFO. The man has admitted to not being able to service his loan and it appears his debtors are working with him while they are also seeking equity to pay the debt. When your debtor is still working with you on your loans especially in a potential situation where mezzanine financing may be involved, the lender has other options to exercise. And from his efforts, he is also putting in the work, so for straight leverage, they can exercise some grace via lower interest payments or some sort of refinancing. I know you won't under this as evidenced in your longwinded but dumb post.

I can't help you. You need an education.

Xander85:
THEN WHAT DA FUC/K ARE YOU SAYING? WHAT IS THE SITUATION YOU'RE SAYING NESTOIL/OBIJACKSON IS FACING THAT'S NOT COMMON TO ALL OPERATORS IN THE UPSTREAM OIL AND GAS SECTOR IN NIGERIA?

IF YOU SAY HE DIDN'T DEFAULT ON THE LOAN, THEN JUST WHAT ARE YOU ACCUSING HIM OF THAT SHOWS HE CAN'T BE COUNTED AS ONE OF THE WEALTHIEST IGBOS ALIVE? B'COS THAT'S THE TITLE OF THIS THREAD!

Typing in all caps does not hide your handicap. You are plain stupid

He is heavily indebted and hasn't been able to pay his loan for the past couple of years is the point. Doesn't mean he isn't trying to come up with a solution as shown in the articles. Hence, we won't use the term default since he is trying his best to meet his obligations.

If you don't understand that simple explanation then your case is beyond redemption. I'll send in a prayer request on your behalf. You need to receive sense by fire or by force

Xander85:
Dude, what you posted in no way backs up your claim that ObiJackson defaulted on the loan taken to buy OML42! It only states that due to operational challenges and the fall in global oil prices NESTOIL decided to sell some shares in OML42! At no point in the article did it say the coy defaulted in the payment terms for the loan it took....that's what you've been suggesting all this while! I doubt there's any multinational or indigenous oil and gas coy operating in Nigeria that didn't face challenges of one form or the other, so why are you making it out to look like NESTOILs case is unique, and that ObiJackson is running from pillar to post trying to stave off a visit from AMCOM?

This what what i asked you in an earlier post: Now could you provide links or post snippets of the said articles you're using to corroborate your claim that Obijackson 'restructured, refinanced or allowed the lenders to take up equity ownership' of OML42?


The link you attached proves none of the above!

Are you really this obtuse? For the third time. I NEVER SAID HE DEFAULTED!!!

Xander85:
Fair enough!

Now could you provide links or post snippets of the said articles you're using to corroborate your claim that Obijackson 'restructured, refinanced or allowed the lenders to take up equity ownership' of OML42?

You need help. Enroll in a good school

Thank me later

https://investorsking.com/debts-nestoil-sell-shares-necondes-oml-42-asset/

Xander85:
Abeg, can someone else help me explain to Kayfra that the part in bold in no way suggests that ObiJackson has defaulted on the loan? He's finding it hard to understand!

Kayfra never said he defaulted. Doofus!

Not being able to pay is not automatic default. Don't you do real business or is everything petty trading? You can restructure loans or refinance or if it's mezzanine debt, allow the lenders to take up equity.

Get an education

Jeez these people are so slow and emotional. Terrible combination

Xander85:
Interesting!

Now provide links or post relevant parts of the said 2018 articles showing definitively that he defaulted on the loan taken to finance the purchase of OML42!

You must be clinically blind or mentally incapacitated but I'll oblige you again

"In May last year, the Chairman, Obijackson Group, Dr Ernest Azudialu-Obiejesi, said the group had yet to repay the $558m bank loan used to acquire 45 per cent interest in Oil Mining Lease 42 from Shell, Total and Agip Joint Venture in 2011, through which its upstream subsidiary, Neconde Energy Limited, was created."

Bullet points to assist your comprehension

- Obijackson is the owner of Nestoil
- He hasn't repaid his loans according to a statement attributed to him
- He is not the only one indebted in the purchase OML42
- OML42 is owned by Nestoil, Yinka Folawiyo and KOV


https://punchng.com/indigenous-oil-firms-battle-for-survival-as-debts-hit-banks/

Xander85:
Fuc/k what you say or think! Where in the body of the report you quoted did it say ObiJackson didn't keep to the terms of the loan agreement?

If you remove your cataracts then you'll see the bolded line in the Punch article and other sources in this thread where it indicates he hasn't been paying on his loan.

Let me give you the idiot-proof version so it's easy for you to understand. Read it S L O W L Y

1. He took loans to the tune of half a billion dollars to finance OML42
2. He hasn't been paying according to 2018 articles
3. He isn't the only one affected

Now keep getting your panties stuck in a bunch like an emotional toddler begging for candy cane.

deomelo:
You don jam ipob bait and switch roadblock


..

I dey string am along ni

Customer da da ni won

Xander85:
May your hatred and jealousy of Igbos consume you! I've just been shaking my head as i read the rubbish you've been posting on this thread just to try and soil the hard-earned good name of ObiJackson!

Comprehension...or rather, lack of it is part of your problem. Read the part you highlighted in bold again (this time slowly) and tell me if it in any way, shape or form suggests to you that ObiJackson has defaulted in paying back the loan in question!

Read again slowly to see where i said he defaulted. The fact that he hasn't been paying doesn't mean he hasn't restructured his loan.

You have the emotions of a woman PMSing

Ilovemystate:
What is your business on this thread since you consider it as Igbo

I want to know who the richest Igbo dude is as a Nigerian. Any problem with that?

Ilovemystate:
A Yoruba boy claimed Dangote has cleared his debts which I know is impossible, then I asked why not use Adenuga who AMCON and FG are chasing over debts for example

Aren't you interested in finding out if the Nestoil dude is the richest Igbo man again or what else is the purpose of your question about Dangote or Adenuga's debt repayment or default?

Ilovemystate:
Why Dangota why not mention your tribes man Adenuga

Why are you bringing Yoruba into an Igbo thread? Can you follow your own rules?

Eco101:
Just now, Lagos State government has sealed Trade Fair International market owned by Igbos in Lagos. Traders in the Multi billion naira market built by Igbos were asked to go home as Lagos State government has taken over the market this morning. Details soon

Fawking liar

Built by Federal Government

Ilovemystate:
The Asset Management Corporation of Nigeria (AMCON) has given a clean bill to Nestoil Plc with regard to an earlier impression that it had been barred from accessing credit from banks

https://allafrica.com/stories/201209220527.html

In 2012. 7 year old news

Dude isn't paying his debt as of last year. It takes time for bad loans to get to AMCON. Hopefully, his business will turnaround and he'll be solvent yet again.

Ilovemystate:
Southwest with their silly propaganda and pull Igbo down syndrome he has paid and AMCON yet to seize his properties, very bitter tribe

What does anything in the post have to do with his igboness?

You said he is probably the richest igbo man and facts says you should look elsewhere. Dude is indebted to the gills and most importantly, he isn't paying the debt. So obviously insolvency issues. Look for another igbo man

Ilovemystate:
Yoruba media, even Dangote, Adenuga and other billionaires are seriously indebted to banks but they are serving their debts that's why AMCON couldnt list them on their list

Did you see AMCON anywhere in my post? He hasn't started paying the significant debt used in structuring OML42 as stated. It's not unusual for what he does. But he isn't servicing his loan

Ilovemystate:
Can you show me Nestoil on Amcon list

"In May last year, the Chairman, Obijackson Group, Dr Ernest Azudialu-Obiejesi, said the group had yet to repay the $558m bank loan used to acquire 45 per cent interest in Oil Mining Lease 42 from Shell, Total and Agip Joint Venture in 2011, through which its upstream subsidiary, Neconde Energy Limited, was created."

Most indigenous oil companies are in debt to the teeth. So he isn't the only one in deep debt

https://punchng.com/indigenous-oil-firms-battle-for-survival-as-debts-hit-banks/

Foolishbuhari:
Bro I know you think the Forbes list actually contains the richest of the rich but it's a false claim Bro. I currently know a woman in the US who's a billionaire in dollars but she's fighting tooth and nail to make sure no one knows her and her worth. This lady is worth over 200 billion dollars and she has even gone the length of using paymasters to hide her wealth.

Again I never knew there were trillionaires in dollars but current business dealings and exposure through this same woman have made me know there are and these men hide from public glare with the same desperation you have to breath fresh air LOL

So a person may choose to be very low key Bro just for his own name and safety. As our people would say, na yam when dey come out from ground nai dem dey use sand cover oo

Buhahahaha

Ilovemystate:
I will like you to post pictures let compare to Anambra state, Abeokuta to Awka
This capital of Ogun with highest IGR


Abeokuta

No contest. Anambra is prettier and more photogenic than Abeokuta


So you see. You win the beauty contest

You're just broke as fawk is the point

Ilovemystate:
Can you compare Ogun to ANAMBRA STATE in developments

These same pictures are our biggest export from Nigeria. The digital photos contributes massively to Anambra's IGR and is responsible for sustaining Nigeria's GDP

Amaka o

This is not true. Someone please post the real statistics showing Enugu coal in the lead for extractive mineral resources closely followed by Anambra Ugu

So much Dangote envy from folks that import adulterated tomato paste from China

Cheap, easy to maintain and effective

And it's even in the local paper. Baltimore Sun

https://www.baltimoresun.com/news/maryland/baltimore-county/bs-md-co-immigrant-enrollment-20190204-story.html

"More than half of those new students, about 3,500, are recent immigrants or children whose families speak another language. Five years ago, 3.9 percent of the county’s students spoke English as a second language. This year, such students make up 6.7 percent of county enrollment.

While the largest number of foreign-born students are from Central America, the newcomers are from around the world. The second most commonly spoken foreign language in Baltimore County schools after Spanish is Yoruba, a language of Nigeria. Across the system, students come from 116 countries and speak 97 different languages."

OkunrinOloro:
How did you arrive at that breakdown? There are no such figures in the article.

There are no such figures, that's why I saif "if". But i just showed you it's not farfetched.

There's no reason a local baltimore journalist will write the article if there's nothing to it

OkunrinOloro:
Actually find this hard to believe. What is the percentage of the 3,500 recent immigrants who are Yorubas that makes it the 2nd most widely spoken foreign language in a city with a population of over 600,000?

If 1000 recent immigrant speak spanish and the next biggest group is 100 Yoruba speakers. It still makes it second

What's so incredulous about that?

Nigeria’s Yoruba language is second most spoken foreign language in Baltimore schools

February 12, 2019 at 08:00 am | NEWS

Mildred Europa Taylor
MILDRED EUROPA TAYLOR | Staff Writer


The city of Baltimore, U.S., has a record of helping immigrants, both documented and undocumented by creating a welcoming environment for them as compared to other cities.

Its school system has, therefore, seen an increase in enrollment over the past few years, and this is largely from immigrants. These immigrant students, according to school officials, are enriching their schools but there is a problem.


Aside from finding additional seats and logistics, most of these students are struggling to catch up with the written and spoken English since their native tongue is not English.


According to a report by The Baltimore Sun, Baltimore County has, within five years, added more than 5,000 students to its fold. More than half of the students, that is, about 3,500, are recent immigrants or children whose families speak another language.

From 3.9 per cent of students that spoke English as a second language five years ago, the figure has increased to 6.7 per cent.

Currently, the second most commonly spoken foreign language in Baltimore County schools after Spanish is Yoruba, a language predominantly spoken in West Africa, particularly, Nigeria.

Nigerians are increasing in number in Baltimore because they already have a family in the area and are in the country legally under rules that allow for immigration for the purpose of reunifying families, said the report by The Baltimore Sun.

Statistics from the Migration Policy Institute state that nationally, the Nigerian population grew more than 50 per cent from 2010 to 2017. There are now about 12,000 Nigerians living in the Baltimore metropolitan area.

Many of them were doctors, engineers, and other professionals in Nigeria and have moved to Baltimore to regain their status.

Officials say that across the system, students in Baltimore come from 116 countries and speak 97 different languages. Apart from Nigeria, most of these foreign-based students are natives of El Salvador, Honduras, Guatemala, and Pakistan.

The increase in immigrant enrollment has compelled school officials to come up with new ways of teaching as immigrant students tend to grapple with the English language.

At Bedford Elementary, for example, teachers are adding pictures, graphs and charts to their lessons to facilitate learning for those whose native tongue is not English.

Teachers are also getting training from the school’s ESOL — English for Speakers of Other Languages – teacher. Under this programme, immigrant students receive extra help with English to make them academically proficient in the language as native speakers, the report noted.

School authorities further identify objects at the premises with vocabulary labels in three of the languages spoken there – English, French, and Spanish.

Once the students catch up, they even perform academically well than their American mates, said county officials.

https://face2faceafrica.com/article/nigerias-yoruba-language-is-second-most-spoken-foreign-language-in-baltimore-schools

PDP states in the top 10. Damn!

Is Atiku sharing the virus?

Biafra is representing well o