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Aliko Dangote, Chief Ibeto, Emeka Offor, Prince Adedoyin,etc got N53bn in loans from failed banks
| July 08, 2009
The Senate Committee on Banking, Insurance and Other Financial Institutions has named ex-directors of 13 failed banks as being involved in credit abuse which led to the banksâ failure. The ex-directors of the failed banks are said to owe about N53.3 billion to the failed banks out of which the Nigeria Deposit Insurance Corporation (NDIC) has so far recovered a paltry N4.722 billion. Some people Included in the list are: - Sanusi Ado Bayero - owing N45m - Adeyeba Adekunle Johns owing N7b from Gulf Bank - Ex- Minister of Science and Technology, Chief Ebitimi Banigo owing N3.2b with N10 million recovered - Professor Nta Henshaw owing N17.9 million - Prince S. Adedoyin & Mrs. Sola Adeoti owing N5.584b with N453 million recovered - Ex-Minister of Information, Chief Dapo Sarumi; - Ex- Governor of old Kwara State, Alhaji Shaaba Lafiagi owing N1,156,776.57 - Prince Samuel Adedoyin; - Sir Emeka Offor owing N7.5bn with N3.8bn recovered - Ex-Minister of State for Foreign Affairs, Chief Dubem Onyia, - Mallam Saleh Jambo - Babajide Rogers, former Managing Director of Gulf Bank - Chief Remi Adiukwu-Bakare an ex-Lagos State commissioner and her husband, Chief Stephen Bakare owing over N1.093 billion - Senator Chris Adighije -Senator Mike Ajaegbo; - Chief S.O. Bakare owing N800 million Chief Great Ogboru owing N799.7 million - Sir Victor Odili owing N41m - Mr. Paul Achimugu; - Mr. Adeyeba Adekunle Johns - Chief C.M. Ibeto; - Alhaji Abbati Aminu Saleh; Captain Onu & Chief D. Onyia owing N26.6 million - Ibrahim Aminu Saleh Alhaji Aliko Dangote, was said to have received a loan of N650 million from Liberty Bank, but the NDIC said that he had paid off the entire loan. Senator Nwaogu while reading the names of the defaulters announced that she had been receiving threat messages. The Senate President, Senator David Mark, thanked the chairman and members of the committee and said: âThis is a Senate Report. We stand by you and we stand together with you and all of us collectively take full responsibility for this report. And none of us is going to shy away from it. âThose who have been named here ought to be ashamed of themselves and not to be sending text messages to you. Please, on behalf of the Senate, I guarantee your safety; you and members of the committee. I will talk to the Inspector General of Police to provide adequate security for you and, if possible, for the other members of the committee. I think you should go about your duties normally and donât think that anybody is going to threaten your life. You have done what you ought to do for this country. You are patriots and you should be proud of that.â Some senators, such as Olorunnimbe Mamora, Bassey Ewa-Henshaw, Ahmad Lawan and Ayogu Eze, supported disclosing the list of defaulters, while some Senators including Senator Joseph Akaagerger opposed disclosing the list saying that some of the former directors are now chairmen of boards of some Federal Government agencies. The Senate President insisted that the names should be read out esaying that the Senate must lead in the fight against corruption and avoiding the announcement of the names of the creditors would amount to shielding corrupt people.

(5) Comment


"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
louis uzoma    Delhi, India    July 09, 2009
I am very happy to see this news and want to thanks all the senators and people who made it be. i also pray for more of this kind.
Its a shame.

God bless nigeria.
Hardfact    otokiti, nigeria    July 08, 2009
If Aliko has paid why do you have to publish his name along with the defaulters. your heading is not fair.
correct yourself.

Admin Note: The heading only states that "Aliko Dangote and others got loans from failed banks". Do you dispute that?
OMOTAYO, J. A.    Lagos, NIGERIA    July 08, 2009
This is what Mr. Soludo should have first done on the distressed banks before enbarking on the recapitalisation / consolidation target.

If those who default in their loans are exposed from time to time, the banks would be healthier. There would not have been the need to worriy about money getting into black holes. If similar thing had been done in the case of the old National Bank of Nigeria, it would have shown the names of the rich who milked the bank dry.

I commend the Senators for this good initiative, and it is a component of the rule of law. Our Constitution preovides that the "State" should mitigate corruption and wage war against it. This is a part of the war against corruption and abuse of office. I can only hope that at the end of the day, those affected will be prosecuted publicly and sentenced accordingly.

I can only hope that similar thing should happen on the power probe, etc. Like Mr. Gordon Brown said during the last G20 meeting in London, it is a good thing so "shame" perpetrators of evil in the society.

God bless Nigeria.
Why embarrass Dangote since he paid his loan? His name should not have bn published in the first place. his enemies might use this against him. I think he should go to court. Tunde. 08034713587
Larry Jones    Columbus, Ohio, USA    July 08, 2009
If Dangote had paid and fulfilled all the loan obligations on time, his name wouldn't have surfaced on the list atall. So let us call a spade a apade.

For those names that appeared on the list and have not paid their debts, Let us see what EEFC will do to them and let us watch the reaction of the government about this.
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