₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,328,902 members, 8,437,887 topics. Date: Thursday, 02 July 2026 at 03:11 PM

Toggle theme

Man Loses Home Worth N20m Over N300,000 Debt - Properties (3) - Nairaland

Nairaland ForumNairaland GeneralPropertiesMan Loses Home Worth N20m Over N300,000 Debt (25738 Views)

1 2 3 Reply (Go Down)

Re: Man Loses Home Worth N20m Over N300,000 Debt by Afolue(m): 2:17pm On Jan 08, 2025
plumcomm:
this debtor sympathy doesn’t work,he intentionally invaded payment.perhaps he thought nothing will happen.he should have sold the house himself and pay off the debt then he will have over 19m available for himself,period…that’s the fate of people who tought they are wicked.
He has a wife and 9 children,person the borrowed him money may not have up to 3children.he can afford 20m house but can’t afford to pay 300k loan.the judge is not stupid,he acted based on the attitude of the borrower.
People like that might have boasted that he will not pay and nothing will happen.
for his property to have been touched, he obviously made it as a collateral for the 300k sum! I hope you know that? Meaning that the document of the said property he submitted before the money was given to him. One could have only done this in desperation and full guarantee of repayment! That shows it wasn’t his intention not to have refused paying back. I expected the creditor to have buy him some more time. With the fact that he wasn’t around shows he left to go carry out some one or two business transactions for him to raise the said sum and even more. The creditor wasn’t considerate over this and that was so unfair of him. It takes a lot leaving a large family behind, in which his return is guaranteed if God should protect him!
Re: Man Loses Home Worth N20m Over N300,000 Debt by Afolue(m): 2:20pm On Jan 08, 2025
plumcomm:
this debtor sympathy doesn’t work,he intentionally invaded payment.perhaps he thought nothing will happen.he should have sold the house himself and pay off the debt then he will have over 19m available for himself,period…that’s the fate of people who tought they are wicked.
He has a wife and 9 children,person the borrowed him money may not have up to 3children.he can afford 20m house but can’t afford to pay 300k loan.the judge is not stupid,he acted based on the attitude of the borrower.
People like that might have boasted that he will not pay and nothing will happen.
for his property to have been touched, he obviously made it as a collateral for the 300k sum! I hope you know that? Meaning that the document of the said property he submitted before the money was given to him. One could have only done this in desperation and full guarantee of repayment! That shows it wasn’t his intention not to have refused paying back. I expected the creditor to have buy him some more time. With the fact that he wasn’t around shows he left to go carry out some one or two business transactions for him to raise the said sum and even more. The creditor wasn’t considerate over this and that was so unfair of him. It takes a lot leaving a large family behind, in which his return is guaranteed if God should protect him!

So If he had died in the process, is that how is entire family will be treated. Ha’aba na..! Check it out Bros.
Re: Man Loses Home Worth N20m Over N300,000 Debt by AntiChristian: 2:23pm On Jan 08, 2025
Houseontherock1:
No injustice here...he must have had it coming! While I hope he gets his house back, I think he's also inconsiderate by only coming up with the money when he realized the magnitude of his loss. Borrow if you must, but work towards paying what you owe...the lender also needs his funds
Yeah i agree with you the lender needs his funds but not at the detriment of his family and entire property!
At most, the house should have been properly valued, sold and the balance given to him.

To me it is injustice!
Re: Man Loses Home Worth N20m Over N300,000 Debt by ojoisimi(m): 2:27pm On Jan 08, 2025
Afolue:
what kind of wickedness is this. How can some humans be this heartless. Is the debt of 300k enough to buy a human life talk more of breath for 24hrs. ! If this creditor isn’t careful, God will give him worse pains in the rest of his existence. Bad man!
Come and see God's solicitor o. Go and read your Bible or Quran about fulfilling/honoring agreement, then come back and say what your just posted. Using the name of God to perpetrate evil against another man isn't God's way. Pay your debt and stop telling us what God can/would do as if we don't know
Re: Man Loses Home Worth N20m Over N300,000 Debt by Greattha: 2:45pm On Jan 08, 2025
Exactly...you'll see some people still support him.

It's just the children i pity...he had the chance to pay back that 300k but like most, he probably thought there was nothing his creditor could do.

People are quick to blame banks and MFBs when these rogues seek pity without considering the creditor.

Now he's bringing the 300k and seeking for pity on radio...rubbish

Debtors who fail to pay what they owe are same as armed robbers

If this happens regularly. The attitude of Nigerians to debt and loan repayments would improve.


thorpido:
Him dey play with court before.When dem come give judgement,N300000 surface.

Court na ya mate?
Re: Man Loses Home Worth N20m Over N300,000 Debt by Afolue(m): 2:51pm On Jan 08, 2025
ojoisimi:
Come and see God's solicitor o. Go and read your Bible or Quran about fulfilling/honoring agreement, then come back and say what your just posted. Using the name of God to perpetrate evil against another man isn't God's way. Pay your debt and stop telling us what God can/would do as if we don't know
if one can not afford to let go of a debt if not fulfilled at the time agreeeable, why give it.! Not fulfilling is no justification to the act committed of selling of his asset to render his household homeless. What if the man was dead is that how is family will be treated? And again the holy books you mentioned, God said , never remove the debtor’s only coat, highest, be lending him every night to sleep with! Will a man of over 10 mouths to feed try this act of not fulfilling a debt he drop his house as collateral worth of over 20m?. For the fact that he was away, should have been enough grace for patience until he returns. Let’s stop being wicked to one another!
Re: Man Loses Home Worth N20m Over N300,000 Debt by Obialom58: 3:32pm On Jan 08, 2025
Transform Your Future with the Miramore Tech Scholarship 2025!

Dream Big, Achieve Bigger—Your Journey Begins Here!

We are thrilled to announce the launch of the Miramore Institute 2025 Tech Scholarship Program, a life-changing opportunity designed to empower underprivileged individuals, including people with disabilities.

This initiative isn’t just a scholarship—it’s a movement of hope, empowerment, and inclusion! 💙✨

WHY THIS SCHOLARSHIP MATTERS

This program is your gateway to acquiring high-demand tech skills and launching a successful career. With full tuition coverage for a one-year intensive tech training program, you’ll have the opportunity to study:

- Data Analysis
- Data Science
- Machine Learning
- Cybersecurity & Ethical Hacking
- Web Development
- Sales & Digital Marketing
- Graphics Design
- UI/UX Design
- Accounting Software

ELIGIBILITY REQUIREMENTS

- Must be at least 15 years old.
- Passionate about building a career in technology.

WHAT YOU’LL RECEIVE

✅ Full Tuition Coverage: Your learning costs are fully funded.
✅ Priority Skills Training: Gain expertise in today’s most sought-after tech fields.
✅ Mentorship & Networking: Learn from industry leaders and connect with like-minded peers.
✅ Career Opportunities: Graduate ready for high-paying jobs or entrepreneurial ventures.
WHY APPLY EARLY?

🔹 Priority Consideration: Early applications receive special attention.

🔹 Scholarship Matching Opportunities: Be matched with additional funding to double your scholarship value!

🕒 Deadline: Applications close soon. Don’t wait—take the first step towards your future now!

HOW TO APPLY

📌 Start Your Application Here: https:///mvLGxtTyd4NLwRtA9

📢 Spread the Word: Share this opportunity with friends, family, and your network. Together, let’s create a brighter future for everyone.

🌐 Imagine yourself excelling in tech, surrounded by a supportive community, and changing the world with your skills.

Let’s make that vision a reality—apply today!
Re: Man Loses Home Worth N20m Over N300,000 Debt by plumcomm: 3:39pm On Jan 08, 2025
Afolue:
for his property to have been touched, he obviously made it as a collateral for the 300k sum! I hope you know that? Meaning that the document of the said property he submitted before the money was given to him. One could have only done this in desperation and full guarantee of repayment! That shows it wasn’t his intention not to have refused paying back. I expected the creditor to have buy him some more time. With the fact that he wasn’t around shows he left to go carry out some one or two business transactions for him to raise the said sum and even more. The creditor wasn’t considerate over this and that was so unfair of him. It takes a lot leaving a large family behind, in which his return is guaranteed if God should protect him!

So If he had died in the process, is that how is entire family will be treated. Ha’aba na..! Check it out Bros.
if the man was anywhere serious or far away,how come he made it back with the money within 2days after the judgement,he was not around to answer court summon and through out the court proceedings but he surfaced after he was going to lose his property.obviously it is the attitude of the man that made the court pronounce that kind of judgment.
Re: Man Loses Home Worth N20m Over N300,000 Debt by Afolue(m): 3:51pm On Jan 08, 2025
plumcomm:
if the man was anywhere serious or far away,how come he made it back with the money within 2days after the judgement,he was not around to answer court summon and through out the court proceedings but he surfaced after he was going to lose his property.obviously it is the attitude of the man that made the court pronounce that kind of judgment.
i hope you know too that the court can be corrupt? Just as the police as well!. They are all full of injustice. For the fact that he was away, a court order could have been place on that property, and not selling it outrightly. What kind of a ruling was that. They were obviously accomplice. 20m worth as against 300k debt, who does that! He can’t loose that property at all… this is wickedness.
Re: Man Loses Home Worth N20m Over N300,000 Debt by 007sulesule: 4:20pm On Jan 08, 2025
Islie:
https://leadership.ng/kano-man-loses-home-worth-n20m-over-n300000-debt/#google_vignette
Mumu mod and useless story. One is sentence carrying 300k and another 2m. Which one do we even go with,huhTueh
Re: Man Loses Home Worth N20m Over N300,000 Debt by Okortor: 4:30pm On Jan 08, 2025
Trash......he should contact me let's reverse the judgement...was the house used a collateral? Is owing debt in Nigeria and offense? Bleep!
Re: Man Loses Home Worth N20m Over N300,000 Debt by Thomthom(m): 4:38pm On Jan 08, 2025
Godswillu:
This is what I call using the law as a weapon rather than a guide.

The court is supposed to protect the oppressed but in Nigeria the opposite is the case.
For examples some one was sentence to death for stealing chicken and another is moving around freely for stealing billion.

infact if anybody quotes me and say something that is not nice and I discovered I am richer than you. I will send the police after you. but if you are richer than me then I will let it slide.
But you no say the man f*CK up for not coming to court to defend himself. He would have just told the court that he will pay on the 6th of January. But again I no understand that judge wey we get for Nigeria again. how judgement take fast like this
Re: Man Loses Home Worth N20m Over N300,000 Debt by nwirinedu(m): 4:43pm On Jan 08, 2025
Strange he definitely had the money pay.
Re: Man Loses Home Worth N20m Over N300,000 Debt by plumcomm: 5:15pm On Jan 08, 2025
Afolue:
i hope you know too that the court can be corrupt? Just as the police as well!. They are all full of injustice. For the fact that he was away, a court order could have been place on that property, and not selling it outrightly. What kind of a ruling was that. They were obviously accomplice. 20m worth as against 300k debt, who does that! He can’t loose that property at all… this is wickedness.
what is the meaning of court order?,the one they summoned the man and he did not obey.oya go and appeal for him nah.someone that borrowed money and did not pay is not corrupt it the person that is serving deterrent to others that want to be crooked that is corrupt.so the man can pay the 300k since all the years but he intentionally refused,he traveled but when he hear say them don sell house he came back,he was broke but when he hear say them sell house he get money.
Re: Man Loses Home Worth N20m Over N300,000 Debt by FireUpNow(m): 5:28pm On Jan 08, 2025
baralatie:
He has the appeal window to initiate
Yes
That's a great escape rroute. Selling a man's house just because of a paltry 300,000 naira in this wicked economic era?
Re: Man Loses Home Worth N20m Over N300,000 Debt by Afolue(m): 5:33pm On Jan 08, 2025
plumcomm:
what is the meaning of court order?,the one they summoned the man and he did not obey.oya go and appeal for him nah.someone that borrowed money and did not pay is not corrupt it the person that is serving deterrent to others that want to be crooked that is corrupt.so the man can pay the 300k since all the years but he intentionally refused,he traveled but when he hear say them don sell house he came back,he was broke but when he hear say them sell house he get money.
treat people nicely & with fairness, people pass through a lot behind scenes. Over 10 mouths to feed no be play. How on earth will you think such a man can be irresponsible & sleep well without being able to pay his bills?. In desperation drop 20m asset as against just 300k isn’t that madness in the first place?
Re: Man Loses Home Worth N20m Over N300,000 Debt by plumcomm: 6:31pm On Jan 08, 2025
Afolue:
treat people nicely & with fairness, people pass through a lot behind scenes. Over 10 mouths to feed no be play. How on earth will you think such a man can be irresponsible & sleep well without being able to pay his bills?. In desperation drop 20m asset as against just 300k isn’t that madness in the first place?
so a reasonable person will use 20m house to borrow 300k or what are you saying self,for a 20m house how many room house rent will it cost to pay 300k loan.he doesn't want to pay and thats why the judge gave the judgment and thats simple.people also forfeit vehicles of over 20m cos traffic offense of 50k so whats the fuss,I just don't like people playing victim when tables turn against them
Re: Man Loses Home Worth N20m Over N300,000 Debt by Yampotatocarrot(m): 7:05pm On Jan 08, 2025
plumcomm:
The house was sold on the 4th and you brought the 300k on the 6th,so since all the time they have been asking you to pay up till you get to court you couldn't get the money but after the house was auctioned you got it.only debtors will sympathise with this manhe was out of the country but his wife and children were there and they have not informed him about court notices?.we Nigerians can support rubbish,so when the house was auctioned he reappeared in the country...don't say this kind of nonsense again abeg
Not even out of the country, he was "out of the state"... Meaning in another state in Nigeria o... Him no serious jare
Re: Man Loses Home Worth N20m Over N300,000 Debt by DarkJeddi(m): 7:33pm On Jan 08, 2025
haybhi1:
Is that even justice in the realest sense of things? No, let's be realistic and reasonable, the fact a group of people sat down to write a law that could be interpreted to pass this kinda judgment doesn't mean it's justice. It would be justice if this victim was there when they were making this kinda law with knowledge he'd be affected like this and he agreed to it.



Meanwhile, this new year if you care to make some dollar cash as a side hustle. Check my siggy, profile, and learn about ST, Cbex. It's about the only thing I can guarantee helps people get daily 10k+ lately
So owing and refusing to pay is good law?

Despite several surmons,he conveniently traveled..

Now his house has been auctioned he's back from his incessant travel?

Pray,tell..

What would you have had the creditor do?
Re: Man Loses Home Worth N20m Over N300,000 Debt by Oyerinde16(m): 7:54pm On Jan 08, 2025
The guy need stop brave up and hire tugs... Send out any bastard that bought the house... Warn anyone that buys the house his money would waste... Show power, force and brutality....

That's how to survive and become successful...

If possible deal ruthlessly with the judge who gave the verdict, let them k ow there are consequences for foolish verdict...

In this life you need to man up, be brutal and wicked... Kala marerin...
Re: Man Loses Home Worth N20m Over N300,000 Debt by Afolue(m): 8:36pm On Jan 08, 2025
plumcomm:
so a reasonable person will use 20m house to borrow 300k or what are you saying self,for a 20m house how many room house rent will it cost to pay 300k loan.he doesn't want to pay and thats why the judge gave the judgment and thats simple.people also forfeit vehicles of over 20m cos traffic offense of 50k so whats the fuss,I just don't like people playing victim when tables turn against them
Some people indeed owe to the extent they barely part away with funds so easily. Some are ready to put on hold until limits as this. He likely never believed this creditor would get this far. You may have some point though.
Re: Man Loses Home Worth N20m Over N300,000 Debt by NoToPile: 8:47pm On Jan 08, 2025
Nigerians don't like paying debt and like ignoring abatement notices and court summons.
Re: Man Loses Home Worth N20m Over N300,000 Debt by DarkJeddi(m): 10:19pm On Jan 08, 2025
haybhi1:
Is that even justice in the realest sense of things? No, let's be realistic and reasonable, the fact a group of people sat down to write a law that could be interpreted to pass this kinda judgment doesn't mean it's justice. It would be justice if this victim was there when they were making this kinda law with knowledge he'd be affected like this and he agreed to it.



Meanwhile, this new year if you care to make some dollar cash as a side hustle. Check my siggy, profile, and learn about ST, Cbex. It's about the only thing I can guarantee helps people get daily 10k+ latelyBut that punishment is the best to you, right?
You borrow money from people and you have to pay up in good faith..

How is that for a fair law?

He had all the time in the world to address the situation but refused to..

And like I said..

What would you have the Creditor do?

You haven't been able to answer that..
Re: Man Loses Home Worth N20m Over N300,000 Debt by haybhi1(m): 1:55am On Jan 09, 2025
DarkJeddi:
You borrow money from people and you have to pay up in good faith..

How is that for a fair law?

He had all the time in the world to address the situation but refused to..

And like I said..

What would you have the Creditor do?

You haven't been able to answer that..
I understand he's wrong and must be punished. My problem is with the premise of the punishment! Why lose your (possibly) 10+M house for borrowing 300k? Couldn't the law find other ways to punish than do that? Couldn't they just seize something worth of 300-400k of his properties?
Re: Man Loses Home Worth N20m Over N300,000 Debt by ultim: 1:53am On Jan 10, 2025
Islie:
https://leadership.ng/kano-man-loses-home-worth-n20m-over-n300000-debt/#google_vignette
Some houses are still worth 20m. Hope still dey for naija be that.
Re: Man Loses Home Worth N20m Over N300,000 Debt by Thinkmintsocial: 11:51am On Jan 10, 2025
300,000 Naira?!

Amazing!

Anyways, check out this post if you are interested in investing in Government housing schemes:

https://www.thinkmint.ng/buyrealestate/government-housing-schemes-nigeria/
1 2 3 Reply

A Container Shop For Sale. Price N300,000N500K Electricity Bill Debt On Newly Purchased House.Anambra Awka: To let 3 bedroom flat in New House in Umuike village N300,000234

200 Buildings Being Demolished In Anambra For Ekwulobia Road Expansion & FlyoverWhich Is The Tallest Building In Lagos?Bungalow