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According to Punch, the high court judge, Justice Okon Abang, gave the order while presiding over a case brought against Dangote by Union Bank. Union Bank had dragged him and his companies to court over alleged refusal to pay up the N5.2bn loan granted his company since September, 2008.
The
bank, through its lawyer, Mr. Chukwudi Enebeli had instituted suits
seeking an order of mareva injunction to restrain all the defendants’
banks in Nigeria- Access, CITI, Diamond, Ecobank, Enterprise, Fidelity, Keystone, Mainstreet, Skye, Wema, Heritage, Sterling, Unity, Zenith Banks, First Bank, First City Monument Bank, Guaranty Trust Bank, Stanbic IBTC, Standard Chartered Bank and United Bank for Africa - from allowing Mr Dangote and his companies to withdraw funds from their accounts pending the determination of the suits.
In the affidavits in support of its suits, Union Bank Plc urged the court to urgently grant the mareva order because in a bid to evade payment of the loan, Dangote has been making frantic efforts to deplete the funds in the accounts of his companies, and that the bank’s investigations revealed that the defendants had started diverting the funds to Dubai in the United Arab Emirates, Canada and Switzerland.
An official of the bank, Olufunmilola Ayoola, while speaking about the suit said the failure of Mr Dangote's companies to pay up the loan had
negatively affected the Nigerian economy, a development which the bank
claimed necessitated the suits. She said this has made the bank
handicapped in supporting small scale businesses because of the lack of
Funds.
When the case was called up for hearing, the counsel to Dangote and his companies told the court that that they had filed objections challenging jurisdiction of the court to entertain the suit. Officials of Diamond and Zenith banks who were present revealed that Mr Dangote was owing them as well. Zenith Bank specifically said Dangote was indebted to the bank to the tune of seven million euros.
In view of the defendants’ objections contesting jurisdiction, the judge said the matter would be adjourned till September 11, 2014 to be able to take all the applications.
Hehehehehe....i don't av a comment to make I jst want to write something
ReplyDeleteYaay! And you're first to comment too. Tool ... Opata
Delete@ Anon.530pm. You don't have to make a comment as I will make one for you. I remembered when I made comments months ago about Femi Otedola being called a billionaire and was attacked. Majority of these so called Nigerian are in debted to banks in billions including Aliko Dangote himself. I used to worked with one of this big banks and I said it then that "If you take bank money out if their money, they are left with nothing" not even a kobo. I understand borrowing money for business but in Nigeria, majority of them borrowed loans for personal show offs Buying private jet with bank money that was loaned to them for business. I have no regard for 90% if them. Is only in Nigeria that they can get away with this nonsense. They live in Banana Island when they can afford Surulere. They have private jet when they can afford to fly business class on commercial. When then died, the bank owns everything they have.
DeleteStupid family..your brother that hires Liberians/Indians ahead Nigerians in his company is next....
DeleteWhat do u have to offer if he recruits you??????? Go blame ur Govt and not d Capitalists......
DeleteGhen! Ghen!
ReplyDeleteYour comment will be visible after approval
20 bank acc. Operated by 1 man...no wonder d average cashier in a bank can't even change his suit...I.e 1st Bank...
DeleteTrue talk brother.
DeleteGo and borrow the money from ya brother na!!! False billionaire like you!
DeleteSeen
ReplyDeleteLol, dis is one thing with all these 2 much money people, d kind of money they owe ehn! Na wao! Even capital oil is even owing banks, Nneka hope u are saving o!
ReplyDeleteSnr Bros go sort am out nah! #bloodisthickerthanwater
ReplyDeleteLiks senior bros is not owning abi?
DeleteOnly him waka come? Make him bro vex help am pay.
ReplyDeleteYou know @ first I thought it was Aliko ..anyways I hope this would be sorted out with time. It is well. James 4:17. BishopDammy#
ReplyDeleteThis is serious case of "bad loan".......
ReplyDeletePls, pay your dept, ok.
ReplyDeleteIts debt not dept,tnk me later
DeleteIt's spelt debt
DeleteOmo see gobe..His brother should help him nah
ReplyDeleteU know say moni no be problem..billionaire family..m sure he will fix d problem.................................#KingOfKings
ReplyDeletea.k.a EDWIN CHINEDU AZUBUKO said...
ReplyDelete.
So dangote get junior brother self and it looks he use the influence of his brother to get that loan..... Sorry man but pay up ur depth and stop embarrassing that gud name at once......
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***CURRENTLY IN JUPITER***
S in....my eyeballs almost fell off when I saw d headline........
ReplyDeleteIts good for the banks. All of them would be chasing big big people and their companies instead of them to support small and midium scale business. They would rather borrow 2billion to one man and denie N500000 loan to the average man trying to start a small business. Serves them right.
ReplyDeleteWell said
DeleteSeconded
DeleteAbi na, serves them right.
DeleteNa wa o. Big Man, Big wahala.
ReplyDeleteSharp thief..see him eye for head.
ReplyDeletechoi!! my boss ooo! eya too bad.. no matter wt Dansa Foods Ltd Still on for sure!! we rock!
ReplyDeleteVivienne what are u doing here.lol. Will tell u who dis is wen we see in d office tomoro.
Delete@Vivienne, for how long? I would advice you to start looking for a new job.
DeleteThis is not funny.... Loan my foot!! So this is what they all stand on and u feel they are so rich that their wealth can't be compared.
ReplyDeleteNonsense!!!!, his brother should pay the money and save the younger one from embarrassing their family.
ReplyDeleteNawao since 2008,that's why the rich keep getting richer and the poor poorer.
ReplyDeleteThis is why average depositors in banks find it hard to get loan from their banks,coz their money has been loaned to politicians for election or big businessmen who refused to pay back on time.
~BONARIO~says so via NOKIA LUMIA
He should pay back d money.
ReplyDeleteBig man Big problems....
ReplyDeleteSince 2008,what has he being doing? All these people sef.
And I thought banks were supposed to request for colleterals before granting loans?
Well sha,just watching...
###IamBeauty.
Hmmmm linda,u wanted to give me tachycardia tot it was aliko dangote.
ReplyDeleteChief abeg pay nau.....
ReplyDeleteThis is not funny at all....
ReplyDeletewww.jeenager.com
A lot of rich men in Nigeria commit monetary/financial crimes that the public are not even aware of, tax invasion,illegal business dealings,illegal transfer funds,money laundering,funding of terrorist group, you name them but 20 bank accounts for one person??? Now I'm thinking how many banks his brother bank with..
ReplyDeleteIt's called tax evasion not tax invasion
DeleteAfi "tax invasion" naa.
DeleteDangote help ur broda nw#some family sef
ReplyDeleteNo comment.....
ReplyDeleteMAKE LEGITIMATE MONEY ONLINE
Ouch... U got me thr Linda. I initially tot it was Aliko. But oga, why u sef no pay money wey u boro and save urslf som embarasmnt
ReplyDeletenoe be so my husband dangote dey owe banks every where
ReplyDeleteLet me call this wickedness. Owing a bank for almost 5years, and u are not even plan to refund the money, na wha for some people o.
ReplyDelete⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥
These are the people messing and killing the banking system, and the Nigeria economy, yet our cowboy hat wearing president and NOI will always shy away from calling these folks to order. Serves the banks right anyway, if it is to encourage SMEs' through soft loans, they won't. His brother get money, make i'm help am pay.
ReplyDeleteNa waoh since 2008
ReplyDeleteHaba......now I totally agree with my Lecturer Dr.Gladys Nwakoye who said that most debtors are big men....
ReplyDeleteHelp am pay wetin na hm broda send am boro money. Abeg mak hm pay by hmself jöor if d broda commot dat kind money 4rm hm pocket aw much go remaining abi aliko tel una say himself no dey owe bank.
ReplyDeleteWe were never informed when he went to collect it, why now?
ReplyDeleteKarma!!! Oh well....
ReplyDeleteI expect this to be resolved ASAP! His brother definitely will come to his aide! People often look at the glamorous life of the rich and famous and forget that most of them are living on loans
ReplyDeleteNigerian banks nawawo.. I work at the dangote office and Union bank actually agreed on a method of payment. The initial amount was 1bn but became 4.7bn because of interest. The judge was also paid off by someone we all know to destroy the family name. There are people out there stealing money and at least this man did not steal from them. The last time they demanded him to pay was a year ago and they had an agreement so this is someone paying them off and the bank using his name for their own self interest because if we think about it 5bn is not a big deal to this family.
ReplyDeleteAll these nigerian banks na wa woo.. Always using big people's name for their interest. I work with the dangote office and Union bank did not actually demand that amount recently. He wanted to pay them off but they decided on a different way of payment. The bank went behind is back to the court because they were being paid by a certain someone that we know and I wont mention names. The judge also paid the punch to publish that. There are 1000s of nigerians that are worst than this.
ReplyDeleteLinda stop rushing into posting things.. The original amount was 1bn and it became 4.78bn because the bank put their interest. And 5bn is nothing to this family. He is going to pay back the right way. Every business man (successful business man) owes at least one bank money.Sooo......
All these nigerian banks na wa woo.. Always using big people's name for their interest. I work with the dangote office and Union bank did not actually demand that amount recently. He wanted to pay them off but they decided on a different way of payment. The bank went behind is back to the court because they were being paid by a certain someone that we know and I wont mention names. The judge also paid the punch to publish that. There are 1000s of nigerians that are worst than this.
ReplyDeleteLinda stop rushing into posting things.. The original amount was 1bn and it became 4.78bn because the bank put their interest. And 5bn is nothing to this family. He is going to pay back the right way. Every business man (successful business man) owes at least one bank money.Sooo......
Corruption everywhere.very evident in the judiciary
DeleteALL THESE FULANI BASTARDS ARE LEECHES, PARASITES AND SCROUNGERS. THEY ARE THE BIGGEST SCAMMERS IN NIGERIA. HIS ASSETS MUST BE FROZEN UNTIL HE HAS PAID ALL THE MONEY HE OWES. SCUMBAGS. I BET THEY WONT TRY THEIR FRAUDULENT NONSENSE IN GUINEA (WHERE THEIR ANCESTORS ORIGINALLY CAME FROM).
ReplyDeleteWHEN FULANI PEOPLE ARE NOT ISLAMISING NIGERIA, THEY ARE EITHER BLOWING IT UP OR STEALING OUR OIL LICENCES OR 419ing OUR BANK OR PLOTIING MILITARY COUP TO STEAL POWER.
EVERYTHING ABOUT FULANI PEOPLE IS THIEVING, SCAM AND KLEPTOCRACY. SCUMBAGS. YOU FULANI OLIGACHY AND PLUTOCRATS ARE PLOTTING TWO SEPERATE MILITARY COUPS TO SABOTAGE 2015. WE ARE READY TO ROUND UP ALL OF YOU AND CONTAINERISE ALL OF YOU (LIKE UMARU FULANI DIKKO) BACK TO GUINEA OR KIRIKIRI. WE KNOW WHAT YOU FULANI BASTARDS ARE PLOTTING IN THE NIGERIAN ARMY. ALL OF YOU WILL BE ROUNDED UP. PROMISE.
You clearly have personal issues. People like you are the reason why Nigerians won't move forward.
DeleteYou are obviously a very unhappy person. It's clear you have issues. May God help you out of your situation.
DeleteThis is just a media hype as usual, I assure u that what really happened may come out tomorrow, and linda go xplain am very well....!
ReplyDeleteWhy bro go help am pay,no be him own 20 banks,wetin dey inside abeg oga pay ur money!
ReplyDeleteNo body is above the law.
ReplyDeleteYou see it, my money & your money they are talking about, since 2008. No wonder the rich are becoming richer, trading with my money since 2008 what a huge interest. ############OTUoCHA
ReplyDelete"Twenty banks for just one person? So sketchy".....
ReplyDeletethis is too much
ReplyDeletepls pay your debt
BORN TO SHINE!!!!
Wow.. Obumnemeudeze@gmail.com
ReplyDeleteLol
ReplyDeleteLol! They will want to make us think that they are rich while it's our money that they are spending. Poor people!
ReplyDeleteBut dangote is making profit from his cement biz. His he not trying to legalize cement produce to 42.5 to send elephant cement out of the market? Why can't he pay up the loan instead of diverting the funds? Smh
ReplyDeleteNawao aburo olowo ton jegbese...olubukola daniels aka blackmamba
ReplyDeleteThis post wasn't written by linda. I bet it was written by a colleague.lolz,i can see our legal terms and jargons innit.maerva injunction thinz...sure not all know the meaning even linda.hahahah
ReplyDeletePLEASE LINDA READ IT CAREFULLY!! His accounts have not been frozen oo. Stop spreading false news and hype from the media. I'm sure it is jist hype as usual from the media
ReplyDeleteBut it is not his personal bank accounts that are going to be frozen. It is the company's bank account. What is the hype about?
ReplyDeleteThere u go
ReplyDeleteserious ghen ghen, pay your debt
ReplyDeleteGod will expose them one after the other onigbese
ReplyDeleteThese DANGOTES and their quest for ill-gotten riches! after enriching themselves from the federal pause thru' our past corrupt leaders, they have extended to the banks! this is what SLS was trying to stop in his name & shame them scheme. but when will the bankers learn their lesson on single obligor's limit in their lending! how can you give out a whooping N5.2b to just one person? what does he produce? how many people are in his employ? how much did you lend to the PZs, UNILEVERS etc? when are we going to start doing things right in this country? God save us oooooo
ReplyDeleteFUCK BANK AND THEIR SCAMS, PUBLISHING IT TO SPOIL HIS IMAGE LOL, ONLY BROKE ASS WILL INSAULT HIM BUT WE KNOW THE GAME. BANKS AND THEIR MANAGERS WAS IT 5.2 BILLION HE BORROWED? THINK BEFORE YOU WRITE, WE NIGERIAN ARE WISER THAN THIS, YOU CAN BE IN HIS SHOE TOMORROW.FUCK#BROKE#ASS
ReplyDeleteI USE TO B STAFF OF HIS COMPANY.... DAT PLACE IS TERRIBLE... DEY R STILL OWING ONE OF THE DRIVER DAT USE TO B A STAFF THERE... SANI IS GETTING HIS REWARD FOR WHAT HE DID SO MANY WORKERS DAT HAS WORKED FOR HIM. DAT MAN IS HEARTLESS.... SO MANY TINS MY DEAR LIND, WERE DU I START FROM!!!! #DORO CLASSY#
ReplyDelete
ReplyDeleteBroth, buy that shenanigan bank called Union Bank and liquidate them instanta; they overcharge people and is a sign they may soon go under.
I laugh in Aboki pidgin,.... chai..........
ReplyDeleteWhy will they freeze his account? by dobis112@gmail.com
ReplyDeleteThis is how the banks got liquidated and the poor lost their hard earned money!! My husband has a lot (to us) of money in the defunct savanah bank which was brought down becaise the new investor asked the debtors to pay up and advertise in papers...! All these greedy people, they have started with Union bank....pay up your debt oga, abi nah wetin???
ReplyDeleteMy bro don't pay even me if I get it I go chop make them take me to so called efcc I go find my way out
ReplyDeleteNa wa o!
ReplyDeleteNa wa o!
ReplyDelete