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Blacklisted Billionaire Debtors Lobby to Borrow More from Banks

By on September 26, 2012

President Jonathan with Blacklisted billionaire chum, Femi Otedola

Serious lobbying has commenced by some billionaire debtors, that were barred by CBN from taking further loans from banks in the country. Sources have revealed that the blacklisted billionaires are on the necks of influential politicians and government officials to force the CBN to cancel the order.

The debtors, based to information drawn together from dependable sources informed that they are worried that they would lose their businesses if ban continues.

A source from the CBN that begged for anonymity maintained that, “Some of the debtors, we heard, are lobbying senior government officials and members of the National Assembly, who are their friends, to overturn the directive of the CBN.”

Mr. Mustafa Chike-Obi who is the managing director of Asset Corporation stated that, said they are doing everything within their powers to make sure that the debtors repaid the loans.

“The loans belong to them. Let them go anywhere; the fact is that they have to pay their debts. Are you not a Nigerian? Do you think it is right to obtain a loan without paying? So, if they go to the National Assembly, I am sure the legislators will tell them to pay their debts,” he added.

In a bid to clean the names of some of the debtors, AMCON said, some of the names on the list released by CBN had started paying their debts and should not have been listed.

In a statement AMCON clarified that, “We refer to the circular recently issued to banks by the CBN on the prohibition of further credit facilities to debtors whose accounts have been assigned to AMCON. In reaction to objections raised by specific debtors and the need to make our position clear on the subject, AMCON confirms that it supplied the list of its debtors to the CBN in the course of its compliance with due administrative regulation”.

“As at the date of transmission to the CBN, this list was accurate. Since then, however, there have been changes to the debt positions of few specific debtors to AMCON due to restructuring and/or repayments. Given changes that had occurred during the intervening period, certain names which ought not to have been on the list were circularised to the banks.”

They confirmed that the names have been identified and the forwarded to the CBN for further action.

“This list will continue to be updated whenever concrete settlements with AMCON are reached. It is pertinent to note that the publication of the list by newspapers was unauthorised as it was intended for the information and use of the banks only,” it said.