₦airaland Forum

TinubuGoQuench:
Ecobank should stop deducting money illegally from my account.

Ok they've heard

AVECDEO:
4.77 billion share multiplied by 22.5 naira per share will equal to 107 Billion Naira.

I'd have paid off the 15 Billion sharply and cut my losses rather than have the whole world poking noses into my business.

Now he has the court and all the regulatory bodies looking into his accounts to the glaring of the whole world...it's somewhat embarrassing.

Those "rich billionaires" are the ones making the banks to collapse. Imagine, instead of paying on judgement since January, of a whole supreme court , he still wants to squeeze out of paying several loans owed to the same bank!

They are wickedly wicked. Even dangote refinery never start, yet that baldhead Emefiele said he has started repaying overdue loans. They are the reason banks rip the innocent users off to remain somehow stable

TemplarLandry:
Let the man breef.
He'll pay up for sure.

How will he pay the #13.5 billion?
Will he now pull out #13.5 billion from fbn cash vault now that his majority shareholder

Is it not strange that someone who was recently indicted for having several non-performing insider loans suddenly out of nowhere has the funds to make such a large acquisition?!

Many don’t know business is not easy I shake my head when people criticize dangote you think business is easy lolz

His flour mill business look lucrative but still on debt despite selling foods

Why dangote quickly sell his tomato noodles and juice factory

Their is much talk I can’t type all

Islie:
https://thenationonlineng.net/ecobank-writes-firstbank-over-otudeko/

rich men games

rajiedreez:
Good, if first bank should accept this man they're joking with their organization, after what he did to them earlier

As in ehn!

I had a feeling his acquisition of the shares weren't genuine.

AVECDEO:
4.77 billion share multiplied by 22.5 naira per share will equal to 107 Billion Naira.

I'd have paid off the 15 Billion sharply and cut my losses rather than have the whole world poking noses into my business.

Now he has the court and all the regulatory bodies looking into his accounts to the glaring of the whole world...it's somewhat embarrassing.

You're not thinking like a business man, even Dangote the richest man in Africa had to borrow form the CBN to fund his yet to be completed refinery how much more otudeko, they literally run businesses on loans while taking profits from the said business with plans to pay back from the profits the business that started with loan will yield

The rich also cry.

Capitalism is a menace to the society. Every capitalist state must have her masses complaining incessantly.

oluwaseyi0:
see how easy it is for the rich to keep getting richer mostly using fradulent means beyond the reach of the masses

if a graduate present a business idea to same bank for funding they will ask for all his generations properties as collateral before giving loan of 2m yet the rich keep getting uncollaterized loans and squandering it

The bankers usually collect kickbacks to approve such billion naira loans. They r all in on it. If some gangs in d bank have collected 5-10 percent, if na u, u go pay?

sonnie10:
But what is his reason for not wanting to pay?

If there is specific collateral for the loan, Ecobank has no other option beyond what both parties agreed upon.
A business is an entity, and loan obligations is squarely the responsibility of that entity and not the liability of another individual.

Some of these banks give loans based on personal guarantee with no form of collateral.

pacino26:
EcoBank should sell the debt to LAPO or PalmPay

I knew this was gunna come up. Oba don’t just want to pay

Lol 🤣🤣🤣 dey go find am come in the traditional way

AVECDEO:
4.77 billion share multiplied by 22.5 naira per share will equal to 107 Billion Naira.

I'd have paid off the 15 Billion sharply and cut my losses rather than have the whole world poking noses into my business.

Now he has the court and all the regulatory bodies looking into his accounts to the glaring of the whole world...it's somewhat embarrassing.

Greediness of the highest order,they are never satisfied

Menclothing:
Many don’t know business is not easy I shake my head when people criticize dangote you think business is easy lolz

His flour mill business look lucrative but still on debt despite selling foods

Why dangote quickly sell his tomato noodles and juice factory

Their is much talk I can’t type all

dangote juice is jedijedi.Na sugar plenty inside.Beside,he enjoys government favours in times of monopoly,that is why his products that are in competition shut down abruptly.

sonnie10:
But what is his reason for not wanting to pay?

If there is specific collateral for the loan, Ecobank has no other option beyond what both parties agreed upon.
A business is an entity, and loan obligations is squarely the responsibility of that entity and not the liability of another individual.

No collateral at all. The report said Oba Otadeko "personally" guaranteed the loan.

AVECDEO:
4.77 billion share multiplied by 22.5 naira per share will equal to 107 Billion Naira.

I'd have paid off the 15 Billion sharply and cut my losses rather than have the whole world poking noses into my business.

Now he has the court and all the regulatory bodies looking into his accounts to the glaring of the whole world...it's somewhat embarrassing.

Lmao… if he sells all those shares at once he can’t N100bn. By my calculations the best he can get is N25 - N30bn from an institutional buyer.

dalass:
Those "rich billionaires" are the ones making the banks to collapse. Imagine, instead of paying on judgement since January, of a whole supreme court , he still wants to squeeze out of paying several loans owed to the same bank!

They are wickedly wicked. Even dangote refinery never start, yet that baldhead Emefiele said he has started repaying overdue loans. They are the reason banks rip the innocent users off to remain somehow stable

This one na lawyer

oluwaseyi0:
see how easy it is for the rich to keep getting richer mostly using fradulent means beyond the reach of the masses

if a graduate present a business idea to same bank for funding they will ask for all his generations properties as collateral before giving loan of 2m yet the rich keep getting uncollaterized loans and squandering it

all these job seekers and low income earners, without a reliable future, will just come online with their 1gig data , to type nonsense.
Who told you there was no collateral, Do you know how much Honeywell was worth, when the loan was approved.

For ecobank to have given out such loan offer of about 5.5 billion, which has accumulated to over 13billion, for the past 10 years now, that otudeko has refused to pay.

Now honey well has been sold to flourmill. Yet the criminal (otudeko), purchased shares of over 70% of first bank, which makes him the owner of firstbank. Through S.P.V, with an unknown business name, registered this 2023.

This is one of the reasons, why Nigerians are always regarded as fraudsters, thieves. In a sane country, otudeko should be arrested.

Ecobank, was pioneered by foreign investment, which are the highest payers of labour, unlike indigenous owned businesses in Nigeria, but Olodo like you will blame the foreign investment.

That mentality to steal is just there, and yet you keep voting criminals into power,out of religious and tribal bigotry.

You expect a bank to give a loan to you, who don't even have a secured job, and can't comfortably afford a three square meal.

Are you joking, or just mentally sick

AVECDEO:
4.77 billion share multiplied by 22.5 naira per share will equal to 107 Billion Naira.

I'd have paid off the 15 Billion sharply and cut my losses rather than have the whole world poking noses into my business.

Now he has the court and all the regulatory bodies looking into his accounts to the glaring of the whole world...it's somewhat embarrassing.

... Lol ..
You Don't Know this People ... Street No Get Shame ....

Dem go Settle Am

Eco Bank will likely still have to go to the court to proof there is a fraudulent conveyance.

Again, Otudeko and his group shows he is brilliantly street-smart.

He once served on the board of CBN and even EcoBank and he has served as the president of Nigerian Stock Exchange.

He should be making plans to ensure a form of him serves as a Supreme Court Justice.

A lot of the so called big men in nigeria, and quite a number around the world, are actually crooks

Nobody owes the county’s banks and pursue policies damaging to the common man than the so called billionaires and their ilk millionaires and govt officials

Revolution2022:
dangote juice is jedijedi.Na sugar plenty inside.Beside,he enjoys government favours in times of monopoly,that is why his products that are in competition shut down abruptly.

Can you give examples of the monopoly?
What exactly is a monopoly according to you?

Bunkbars:
all these job seekers and low income earners, without a reliable future, will just come online with their 1gig data , to type nonsense.
Who told you there was no collateral, Do you know how much Honeywell was worth, when the loan was approved.

For ecobank to have given out such loan offer of about 5.5 billion, which has accumulated to over 13billion, for the past 10 years now, that otudeko has refused to pay.

Now honey well has been sold to flourmill. Yet the criminal (otudeko), purchased shares of over 70% of first bank, which makes him the owner of firstbank. Through S.P.V, with an unknown business name, registered this 2023.

This is one of the reasons, why Nigerians are always regarded as fraudsters, thieves. In a sane country, otudeko should be arrested.

Ecobank, was pioneered by foreign investment, which are the highest payers of labour, unlike indigenous owned businesses in Nigeria, but Olodo like you will blame the foreign investment.

That mentality to steal is just there, and yet you keep voting criminals into power,out of religious and tribal bigotry.

You expect a bank to give a loan to you, who don't even have a secured job, and can't comfortably afford a three square meal.

Are you joking, or just mentally sick

if fbnh could loan 40 billion without collateral then he did it with ecobank. If not for cbn intervention into fbnh scandal nobody would have known that those billionaires were collecting loans without presenting a collateral.

There one other chronic debtor that almost bankrupt ecobank,the man is from the northern part. The man has not paid his debts for years and he prides himself as a billionaire.

Angel55555:
Otudeko is a smart man, he appointed his two children as directors to frustrate the payment. Sadly, the company might be the one to pay for it.

The company is a different entity itself and is not liable for any personal guarantees held by its shareholders . The way an Ltd is structured is in a unique way that it stands on its own . Can sue and be sued . Inshort just consider it a different human being all together .

mrkels:
The company is a different entity itself and is not liable for any personal guarantees held by its shareholders . The way an Ltd is structured is in a unique way that it stands on its own . Can sue and be sued . Inshort just consider it a different human being all together .

Yes, I know. I think the company went outside it's Memorandum of association. So, the regulators are going to sanction the company and not people/management running it, since they're two different entities .

When I first saw his move,I knew he is in debt

ivolt:
Can you give examples of the monopoly? What exactly is a monopoly according to you?

you no get data?

Bizibi:
if fbnh could loan 40 billion without collateral then he did it with ecobank. If not for cbn intervention into fbnh scandal nobody would have known that those billionaires were collecting loans without presenting a collateral.

There one other chronic debtor that almost bankrupt ecobank,the man is from the northern part. The man has not paid his debts for years and he prides himself as a billionaire.

this is what we see in this country, Most African billionaires are not sincerely legitimate billionaire.

This country has turned into, a dog eating his fellow dog kind of economy.

I know a billionaire, who has an office at v.i in Lagos, this man pays his workers a very poor sum as monthly salary. Just to enrich his pocket more, and reduce expenditure.

I can't even encourage a friend to work in a family owned business venture, you will work and earn nothing. The worst part of it all, is that most foreign investors are either going to Ghana or other African countries.

This country is becoming empty, and alot of Nigerians are getting poor.

Revolution2022:
you no get data?

I thought as much, you don't know what you are talking about.
You saw some people making ignorant claims and you joined them
without scrutiny.