₦airaland Forum

boldking:
Better at least after selling it then use the money to campaign for Peter Obi to make a better NIGERIA for you and our next generations

Thinkam:
It's the same thing both reports are saying, only a 50bn pay was made

Heroicvic:
Na piggy bank (kolo) I dey use, I gat no business with all these news
Nigeria bank 5000+5000=9890 if you know you know

Thinkam:
It's the same thing both reports are saying, only a 50bn pay was made

Sweetplum:
Their adverts are top notch. One of the best in Nigeria. However, shey CBN or FG wan buy Polaris ni?

Administration1:
This is crazy.
Polaris Bank was sold to the entity with the lowest offer.

INTEGRITYA1:
I wish I have someone
Who can help; with my dream ................

Sky Bank, always there; saying Yes to your needs.

We missed Sky Bank of then.

Heroicvic:
Na piggy bank (kolo) I dey use, I gat no business with all these news
Nigeria bank 5000+5000=9890 if you know you know

Segun2222:
its was sold to the entity with the highest offer the money left after paying polaris debt is the 50bn try and read the article again you must have missed some lines

SCIL’s binding offer involved an immediate upfront consideration of N50 billion and full responsibility for the debt of N1.305 trillion owed to AMCON, essentially a total purchase consideration of N1.355 trillion. This offer was the most competitive and provided taxpayers and the Federal Government with more than full recovery of its intervention cost.

Thinkam:
It's the same thing both reports are saying, only a 50bn pay was made

Who is after Godwin Emefiele? The saga continues……The intrigues …. The power play - Opera News Official


Recall that on Monday, December 19, 2022, the Department of State Services had approached the Federal High Court in Abuja seeking an order to arrest and detain Emefiele for his involvement in terrorism financing and economic crimes.

Justice John Tsoho, the Chief Judge of the High Court denied them the order insisting that the DSS did not provide any concrete evidence to substantiate its claims that Emefiele was involved in their allegation.

Ironically, these allegations only surfaced after the CBN announced plans to change the naira notes ahead of the 2023 general elections.

Nigeria’s political and business elites were not comfortable with this, more so when the CBN pegged withdrawal limits at N100,000 N500,000 daily for individuals and organisations respectively.

Two invitations from the House of Representative were ignored by Emefiele who explained that he was unable to honour their summons because he was part of the entourage of President Muhammadu Buhari who was on an official trip to the United States at that time.

Well, Buhari returned but not Emefiele who felt it was safer to remain in hiding.

While poking holes at the circumstances surrounding the sale, human rights lawyer, Femi Falana said, “The bank was worth N1.8 trillion according to expert evaluation. Selling it for N50 billion is a criminal act that should not be allowed to stand. They have no intention of recovering the public funds from the president’s cronies they transferred the assets to, that’s why they came up with the joke of 25-year repayment plan.”

Falana reiterated that Ahmad’s claim that the buyers who he says are the ‘president’s cronies’ would repay N1.2 trillion in 25 years was a fig leaf aimed at closing further discussions about the bank’s sale.

He therefore urged interested parties, particularly Asset Management Corporation of Nigeria, AMCON, which was shut out of the purchase process, to challenge the sale of the bank in court.

Lanre Suraj, another an anti-corruption campaigner, called the sale of the bank a transparent folly.

He hinged his submission based on the fact that back in 2020, a lucrative deal of N1.04 trillion was placed for the bank by an interested party which offered N200 billion in immediate disbursement.

But rather than present the offer, Ahmad allegedly suppressed it until the final deal was sealed in July 2022, after allegedly receiving assurances that she would be made the CBN governor upon brokering.

Ironically, the firm she sold the bank to, was only registered four months prior to the deal.

“You cannot tell me that a group that was ready to pay N200 billion immediately and subsequent N100 billion per year in order to close the deal in just about right years is incompetent. But the characters around the president who bought the bank for N50 billion with a 25-year repayment deal is competent?’ Suraju queried.

For this reason, Suraj urged the president to constitute a panel to audit assets sold under Ahmad and the current CBN regime and prosecute those found to have grossly undermined public interest for personal corrupt purposes.

“The losses already inflicted on Nigerian taxpayers could still be mitigated if people behind the conspiracies could be brought to justice,” he added.

Ahmed has been on the path of being groomed to become the governor of CBN as far back as 2016 when she was quickly appointed an executive director at the defunct Diamond Bank Plc and seconded immediately to the CBN, in preparation for such a time as this.

She is being backed to become the CBN governor by a group led by Abu Funtua, a prominent son of Alhaji Isa Funtua, the late longtime friend of Buhari and a former member of his administration’s ‘cabal’.

If Funtua’s schemes does materialize, then she would become the first female CBN governor in the history of Nigeria.

Administration1:
This is crazy.
Polaris Bank was sold to the entity with the lowest offer.

post=119718444:
What about sale of Etisalat to 9mobile some years back ? I like to hear you people explain that away

sparko1:
I think you should read it again, a 50bn upfront payment plus the buying of the debt, the debt is going to be paid with a plan.

The idea actually makes sense, the debt has a payment plan already which the bank couldn't keep up, accepting the debt means the payment plan begins all over with a 50bn extra.

If the sold it less than the debt, then we can say there's a problem.

Emeskhalifa:
Really? Do people still use these commercial banks?
Despite all these stamp duty?

I use Fairmoney, they gave me atm card, zero charges, zero stamp duty and I still get to take loan from them easily without any collateral

Thinkam:
It's the same thing both reports are saying, only a 50bn pay was made

Administration1:
No they did not pay the debt, they only accepted the liability, and paid only 50bn. Please read again.

sparko1:
I think you should read it again, a 50bn upfront payment plus the buying of the debt, the debt is going to be paid with a plan.

The idea actually makes sense, the debt has a payment plan already which the bank couldn't keep up, accepting the debt means the payment plan begins all over with a 50bn extra.

If the sold it less than the debt, then we can say there's a problem.

seeyounow:
student loan ... should be introduced