₦airaland Forum

KingTom:
So you're saying...??

TemporaryHansel:
I feel this is what is happening to bbnaija right now. They wanted to expand by appealing to Nigerians in diaspora, and it seems they believed the only way to do that, was by flooding the show with housemates bred in the diaspora ( The UK to more specific).

And it seriously backfired, those diaspora housemates cannot carry the show the way proper naija bred housemates used to, as a result their major audience have mostly evaporated.

Let the diaspora watch them na, lol.

These days bbnaija will start and conclude without anybody talking about it.

iamoyindamola:
The movie actually swept away awards in AMVCA
I have issues with the siblings they were distant all through the film

BlueRayDick:
You see this point? This is my biggest grouse with the producers/director of the movie. The attempt at depicting Nigeria during the June 12 1993 elections was just so forced. They had to zoom camera angles too close when shooting scenes that involved walking on the streets.

Also, they didn't get their time value of money right at all. How person go enter N100 naira bus in 1993 ?

The lead character was supposed to be a Yoruba guy named Fola but somehow the guy's Yoruba accent/intonation clearly shows he's not Yoruba. I thought the guy's family were living in the village while he's hustling in Lagos only to find out his wife went to the village when he came back home from Lagos to meet the boys alone. Where the 4ck are they living that is neither Lagos nor village ?

A lot of things seemed forced in the movie, I vex abandon the movie because I was struggling to see what exactly they were trying to do with the disjointed storyline and too many plot hole.

I commend the two boy's acting tho. That's like the first time I'm seeing Nigerian kid actors play their role perfectly well without necessary starring into the camera

Ibime:
I watched the video.

He said if he takes a loan of N10bln but only spends N500m, it is not debt

I interpret that as him saying the cash is still there to cover it, but you may be right, as he is so poor in expressing himself, he may be talking about an RCF.

An RCF would never be recorded as a liability in the books unless it is drawn down so there should never be anything on the balance sheet to state he took a loan unless he drew it down.

There are however small penalty charges for not using the RCF (ie you have the facility, but you did not draw on it) which is a minimal percentage. My last RCF penalty charge was 0.5% per annum. Perhaps in Nigeria it will be around 2%. This interest penalty charge is the only number that makes it to the financial statements (as expenditure in P&L), there should be no loan on balance sheet to accuse him of.

BlueRayDick:
I was not impressed one bit.

I have a lot to say in negative about this movie , like I was so disappointed I didn't finish watching it. I watched close to 1 hour of the movie and didn't see the "really good" in its rating. I abandoned the movie with 30 minutes unwatched.

Ibime:
This is not a credit line.

A credit line is an RCF (Revolving Credit Facility) that allows you to borrow and payback some or all of the borrowing as you wish at any time, up to a certain amount to fund daily operational needs. It's usually used to manage seasonality and cashflow and attracts a higher percentage, usually 2 to 3% higher than a fixed loan.

What Obi was trying to articulate (and very poorly) is that he considers debt to be the net balance between debt and cash. . . . which as I said earlier, he left a positive balance between cash, investments and debt which is commendable.

Hence he is saying he borrowed money but left enough cash to cover it (or to be precise, enough cash and investments).

He should be absolved of this matter, and given kudos. As a side note, his explanations of debit and credit concepts are extremely poor for someone who used to be a bank chairman.

Even if I have gone to the bank to borrow money, but I didn’t spend the money, you cannot call it debt I left.

- Peter Obi pic.twitter.com/yThxepeBYu

— Imran Muhammad (@Imranmuhdz) September 24, 2026

iamoyindamola:
Yes I also believed it was politics related until I checked

iamoyindamola:
I just read removing corner flag is a bookable offense, the ref is following the rule book

GloriousGbola:
Now convert this to obidientspeak where a loan that is not spent is somehow no longer a loan

GloriousGbola:

Even if I have gone to the bank to borrow money, but I didn’t spend the money, you cannot call it debt I left.

- Peter Obi pic.twitter.com/yThxepeBYu

— Imran Muhammad (@Imranmuhdz) September 24, 2026

Someone should explain how loans work pls.

CrystalTiger:
If you're Obidient, raise your shoulder and walk majestically..Be proud of yourself everyday biko..

13yrs after leaving office, man's never run away from scrutiny, steadily makes himself available for questions..

Make people that support a childhood photo thief come dey form moral superiority? Lol

VIDEO: "Please publish the documents and meet the banks to verify the statements" — Peter Obi presents his handover note as Anambra governor on live TV pic.twitter.com/S2GFFbxUJp

— TheCable (@thecableng) September 24, 2026

Ibime:
A plausible explanation

But that $7m company valuation talk no be am, considering we know he has $15m cash in Panama, and that's only what we've been able to discover.

Ibime:
Well I gave his UK company financials since by his account, most of his early wealth came from his UK operations. That is his only business in UK

Those in Nigeria can give account of his Nigerian Business (Next International limited) which is likely to be valued in Naira

Also private companies are typically valued at 7 times their yearly EBITDA (Operating Profit) so a valuation of $7m dollars likely means he was making $1m operating profit per year from that company. There is a wide gap between that and having $15m in cash to put offshore in Panama. That $7m valuation does not even come close to explaining his cash holdings.

Ibime:
Information is free

From 1996 to 1999, his UK and only major company had little on the balance sheet, around £2k to £15k Net Asset Value at that period

From 2000, I will say he started trading big because the company then started having a low Net Asset Value but £1m-£1.5m in debtors and about the same in Creditors. I will assume that he was the creditor and give him kudos that his company generated up to £1.5m of people owing it (Debtor balance) although the creditor balance more or less evened it out. The company did however take a mortgage on a property in 1997 and some or a good chunk of that creditor balance could be the bank for the mortgage.


https://find-and-update.company-information.service.gov.uk/company/03199858/filing-history?page=4

CrystalTiger:
🥰🥰🥰🥰🥰🥰

Efcc called & incredibly asked me to explain a house I acquired in 1996, 10 years before I became Governor so I gave them the receipt of full payment of £1m pounds - Peter Obi NDC Presidential Candidate.
pic.twitter.com/djRrSjWIbK

— Ray (@cousinray_) September 23, 2026

raumdeuter:
Bring evidence to show

Cos we never see wetin Obi do to become Bank CEO besides being a bag man for Abacha and the Shot caller for the likes of Chinenyenwa Ezewuzie

raumdeuter:
Bola didnt jump from nowhere to become treasurer at Exxon, His long history of academic and career excellence took him there

Obi shady past where he cannot even mention in official forms the name of his companies where he worke

If you have evidence of Tinubus past that you claim are lies, take it to court and get a conviction

That story you are peddling carries as much weight as th allegations by Chinenyenwa Ezewuzie who claimed she was a drug mule for peter Obi

izzou:
What's your job?

"Major Financier of NADECO"

raumdeuter:
BAT before politics was a the treasurer at Exxonmobil, Before becoming governor he was a major financier of NADECO

All these Obi businesses he forgot to write them on his INEC form

raumdeuter:
Tinubu wont tell us lies or pretend he is a poor man, He will admit he is rich and lives opulent lifestyle,

Tinubu will not waylay 2face at the airport an be struggling to carry his bag for him
Tinubu will not be going around owambe ceremonies to serve food to claim humility
Tinubu has more than 1 wristwatch, him and his wife use expensive items befitting of rich men

raumdeuter:
Obi claimed he is a Saint, BAT never did

Obi claimed he had 1 watch which was a lie,

All the Go and verify turn out to be lies,

Moreover his prudent lifetyle has been bursted when his wife carries a 250M purse

In Obis squirrel voice: "Why does one person need a 250m purse, is it to carry the book of life? That is the problem we have in this country, I only have 1 watch, 2 black shoes and 5 shirts from Marks and Spencer, while a woman a politicians wife is carrying almost the budget of a state as handbag that they can make for One thousand in Aba"

(Crowd cheers)

Can more politicians explain their source of wealth pic.twitter.com/hYIHJZeRV2

— oseni rufai (@ruffydfire) September 18, 2026

raumdeuter:
Obi claimed he is a Saint, BAT never did

Obi claimed he had 1 watch which was a lie,

All the Go and verify turn out to be lies,

Moreover his prudent lifetyle has been bursted when his wife carries a 250M purse

In Obis squirrel voice: "Why does one person need a 250m purse, is it to carry the book of life? That is the problem we have in this country, I only have 1 watch, 2 black shoes and 5 shirts from Marks and Spencer, while a woman a politicians wife is carrying almost the budget of a state as handbag that they can make for One thousand in Aba"

(Crowd cheers)

raumdeuter:
Not as much as a hypocrite, who lies, steals but claims to be a saint

raumdeuter:
Tinubu never claimed to be a saint

The worst human is a hypocrite

raumdeuter:
That was why he stole govt money or say he misplaced govt money into his own company account