The order of the court followed an order of Mareva injunction, Diamond Bank Plc, for alleged refusal of Chief Odogwu and his companies to offset the loan of N26,229,943,035.22, they obtained from the bank (A Mareva injunction is a temporary injunction that freezes the assets of a party pending further order or final resolution by the Court).
The bank also sought for an order restraining Chief Odogwu and his two companies, their agents, privies, or assigns from disposing, selling, transferring, and or alienating any of its movable or immovable asset, money, share, stock and other negotiable instrument pending the determination of the substantive suit.
The bank in a sworn affidavit, claims that sometimes in 2007, SIO Properties Limited, and Chief Odogwu, on behalf of Robert Dyson & Diket Limited company, approached the bank and required huge finance to be applied and disbursed as at when due for their project called ‘Luxury Collection Hotels and Apartments’, formerly Le Meridian Grand Tower, to be constructed at 31-35, Ikoyi Crescent, Ikoyi, Lagos, in the name of SOI Properties Limited of which Chief Sonny Odogwu is the chairman and major owner.
The bank is also asking for an order granting leave to it to foreclose and sell the said property situated at 31-35 Ikoyi Crescent, Ikoyi, Lagos. The case has been adjourned till December 12 by the judge .
Sorry mehn!
ReplyDeleteJesus! Ona nor dey allow Linda post finish before Ona Comment sef... ah!
DeleteBack to nothing again!!!!! ...not my portion
DeleteFinally..the ass of the chicken has been exposed. He&his family must know that all the families they owe some form of severance package or gratuity are praying hard. This is just the beginning.he has allowed many to languish in penury after years of service to his nonsense companies...no salary no gratuity
Delete...vengeance is of the Lord.....Emeka,Ken,Uche,even u Violet Odogwu& the rest of u, be warned. Better seek restitution fast and pay those you&your family owe. We serve a living God.
Na Babangida's inlaw...Miriam's bro
DeleteSee this one! Is this what you live for?
DeleteOnly U 19banks.........
ReplyDeleteChaii
DeleteAmakadarlyn@yahoo.com
na dem dem
ReplyDeleteThere was a time he was bastardly rich, any way nothing last forever.
DeleteHmmmm na wa
ReplyDelete....
ReplyDeletecool fly_fire_fox@yahoo.com
ReplyDeletegood for him...
ReplyDeleteOmg!
ReplyDeleteHe doesnt look like he owns a penny self
ReplyDeleteLmao!!! How do rich pple look?
DeleteAbeg help me ask am. Whether dem dey write account balance for person forehead.
DeleteWateva
ReplyDeleteVery good
ReplyDeleteGood for them. Crime is crime no matter who is involve and the same measure should be applied to them all. ««QU££NMA¥A»»~R£PORTING LIV£»»
ReplyDeleteYou don't understand the business environment. These banks are shylock lenders and terrible. You can't be quick to judge. He should have taken them to court first.
DeleteNigerians Can Be Daft, Which Crime Did You Read Him Commit? He is owing and he has collateral, if he didn't which bank would loan him that insane amount of money. After una go say una go school. Gbo Gbo Broke People! (runs)
DeleteToo bad!
ReplyDeleteHmmm
ReplyDeleteChisos!!!
ReplyDeleteOver 20 billion Naira in debt
Feel free to freeze his life sef
ALL THESE MEN SEF...
ReplyDeleteDEM GO BORROW MONEY FOR BANK TO PAY BACK NA PROBLEM
Uhmm ook oooo
ReplyDeleteHe only needs to know someone up there for the accounts to be released. This is Naija
ReplyDeleteMay case be resolved amicably.
ReplyDelete***ECHOMASS***
Hmmm
ReplyDeleteJust one person, all this money?
ReplyDelete19 Banks? Only u? Nawa Ooo
ReplyDeleteWow!
ReplyDeletehmmmmm OK o.
ReplyDeleteYepa... All that moneyy
ReplyDeleteOk, ebonie5@yahoo.com
ReplyDeleteThank God. Sammieblacc77@gmail.com. Thanks Linda, God bless!
ReplyDeleteThe Man looks scary..
ReplyDeletejenyking comenting commenting via #Etisalat
Toooor ok
ReplyDeleteYeye dey smell. Yet people go dey envy d's one in d name of big man, not knowing d quantum of debt wey him carry
ReplyDeleteGod don catch am
ReplyDeleteLol
ReplyDeleteall married men need to read this
Wahala everywhr...na dia cross.
ReplyDeletena so
ReplyDeleteOk
ReplyDeleteGeez!
ReplyDeleteNa personal account peeps here dey wait to bulk up.
ReplyDeleteNiCk
okay
ReplyDelete(˘̯˘ )
ReplyDeleteGud for him
ReplyDeletecorruption..iamadiume101@gmail.com
ReplyDeletethats terrible
ReplyDeleteOh my GOD see money oooooooooo
ReplyDeleteChai. See one person debt.
ReplyDeleteNa wa ooo. See his face and he is even smilin
ReplyDeleteToo bad..
ReplyDeleteNawa oo
ReplyDeleteso much money...smithjoyce113@gmail.com
ReplyDeleteHoly moses!!! 19 banks???
ReplyDeleteNa wa ooooo. See his face and he is even smiling
ReplyDeleteHMmmm
ReplyDeleteWho is he?
ReplyDeleteCan imagine what 26b can do 4 dis country. But this pot bellied mman decided 2swallow it all. Shady2link@yahoo.com
ReplyDeleteThis is a serious iSsue.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteNa wa
ReplyDeleteSO THE RICH BORROW ............Hmmmmmmmmmmm
ReplyDeleteTor na dem sabi
ReplyDeleteSee Gobe.
ReplyDeleteNo wonder Grand Hotel is losing shape. Business men be being so greedy.
ReplyDeleteNawao 26b debt?
ReplyDeleteFaceoflib
Baby agba.....
ReplyDeleteIykestiflar@yahoo. com
Dats bad....lili am waiting ooooooo
ReplyDelete19 banks? Hmmmmm
ReplyDeleteWait! This old man get accnt 4 19 banks? Na wa ooooo, this country hmmm
ReplyDelete26billion? 1 man, chai God is a merciful God...
ReplyDeleteThis is d hard truth: 1 naija will always get to the finals so Bigbrother can get more money 2. Nigeria will not win anytime soon so long as this 1 country votes is still in play 3.Nigerians contributes 76% of Bigbrother's revenue 4 Nigerians are hated by most African countries and are seen as threats in d game no matter how pure a Nigerian contestant will be 5 Bigbrother will still use Nigerians next year and they will still fall 4 it. Am out....
ReplyDeleteFire on the mountain
ReplyDeleteLol, leta dem go dy intimidate us hehehe
ReplyDeleteWay to go!
ReplyDeleteNa serious debt o ajibken@gmail.com
ReplyDeleteBaba
ReplyDeleteIykestiflar@yahoo.com
Hmmm...am speechless
ReplyDeleteSee What Tiwa Savage Did To A Popular Comedian
Pretty Wife Caught Cheating On Her Husband With The Houseboy
Tor
ReplyDelete19banks? WTF is he doing avn money in 19 banks, kai! All this 419ers
ReplyDeleteWhen will I be first to comment.
ReplyDeleteNICK
Na serious debt o ajibken@gmail.com
ReplyDeleteNa serious debt o ajibken@gmail.com
ReplyDeleteThis people mean business
ReplyDelete#Commenting thru Glo 4G LTE
I HATE TO OWE! weda big or small amount... it's repercaution tomorrow is always not a good thing.... i pray He settles erthing and loose nothing.
ReplyDeleteTHAFINEXX
Big man big wahala. All these big big money they are calling.
ReplyDelete@lwkmd_naija
(twitter/ig)
This is serious shit
ReplyDeleteMfonobongsmn82@gmail.com
itt-----international tif tif
ReplyDeleteLinda wats ups wit my comments na??
ReplyDeleteOLE
ReplyDeleteHA! I PITY THE STAFF OF THESE COMPANIES, NO DECEMBER SALARY, NO 13TH MONTH ETC..
ReplyDeleteNa only u waka dis contry, 19 banks...
ReplyDeleteWhat's wrong with all thiz big men! They shud chill nau.
ReplyDeleteGod don catch am...naso all of dem go hear m
Delete~@iamjbankz SA to President Jonathan 2015~
What's wrong with all thiz big men! They shud chill nau.
ReplyDeleteToo bad
ReplyDeleteOkay sunny. Money no dey tire u?
ReplyDeleteOnly u 19banks...n u can sleep at night
ReplyDelete19 accounts Hmmmm can't offset loan
ReplyDelete19 accounts Hmmmm can't offset loan
ReplyDeleteNawa oooh
ReplyDeleteNa Waoh oo. Sentangel2040@yahoo.com
ReplyDeletei hear later we no go know how eh take end......bt d man get mouth ohh 19 banks chia.
ReplyDeleteHmm...I no fit talk
ReplyDeleteProverb 10:22 'The blessing of the LORD, it maketh rich, and he addeth no sorrow with it'.
ReplyDeleteThis was the man who built a 'wonder house' in Asaba many years ago worth over N25 million when the value of the naira was very good.
I have said it before and I am saying it again, these so called rich men in Nigeria are poor, in the sense they are living on borrowed bank money, with interest piling up. Take their liabilities from they assets, they don't have nothing.
And for the politicians who steal, thinking they are rich, the Spirit of God will seize that money and will go broke sooner or later.
They are many former 'Rich' politicians who are so broke now, they now find it difficult to feed, they are all over the place, hustling for contracts.
It is only God that gives true wealth.
That is a huge sum of money
ReplyDeleteHmmm 19 banks, oh lord change my story to glory. Amen
ReplyDeleteAgrrement is agreement. Mega4dave@gmail.com
ReplyDeleteMoney man. He is the 1st blackman to wed in the vatican.
ReplyDelete
ReplyDeleteThis man.
ALl of our big men live on loan
Na wa o!!!!!19 banks for only you...ologunifemidolapo@yahoo.com
ReplyDeleteuhmmmm only one person! njkalu@yahoo.com
ReplyDeleteFace the law... Ilobiasika@gmail.com
ReplyDeleteChoi! Oga u don enter, they will collect even the one wey no bi there own join!
ReplyDeletebig man, big wahala
ReplyDeletebut a loan of N26billion+ !!! to do wat nah???
ReplyDeletehmmmm...this is a man who does not pay salaries until middle of the next month. the project he kuku borrowed the money for no get head or tail. i wonder what is there to sell anyway. He is a fucking broke man living on past glory.
ReplyDeleteHehehehehe. The rich also cry. Better put, rich man dey mess too.
ReplyDeleteJesus is Lord.
Financially, he is dead and buried.
ReplyDeleteThe are many more like him!
Them go hear wen!
I feel sorry for young men who are desperate to marry the daughters of these so rich men. And young girls who give their bodies to them for money. No matter how bad your state is, God will make a way for you. He is God that specializes in things that are impossible with men.
After fucking these so called rich men, they come on the internet and flaunt their cars and houses, and say 'Hard work pays'. Hard work indeed!
I dey laugh, and I am still laughing.
People do the things they do, because they don't fear the Lord God Almighty, the creator of the Universe.
There is a big price to pay for messing about with God's law! DEATH!!!
moni..Obianuju4anita@gmail.com
ReplyDeleteI don't understand why some of these rich men think they can use their influences to dodge loans given to them. They forget the money actually belong to the poor masses.
ReplyDeleteOk..obianuju4anita@gmail.com
ReplyDeleteHmmmm na waooo
ReplyDeletewhen money reaches the B volume,any allegations around it is just asking for it own share.i rest my case
ReplyDeleteThe rich also cry,I guess.
ReplyDeleteThis chief Sunny Odogwu, the Ide of Asaba. He is CEO of SIO Industries. He was once thought to be the richest man in Nigeria. 26 Billion isn't 26 kobo,I pity anyone who owes that much.
Cynic*Igbo*Guy
Okay then, guess assurance no cover am again!
ReplyDeleteYou are all saying rubbish. This is business. Just because he's not trading petty cash like your father's doesn't mean he broke. With the magnitude of his business, of course he needed to get a loan from the bank. Where would he get N25billion from? And before it sounds unfathomable, that's just about $14million. It's not as massive as it sounds. Chief Odogwu is worth over $100m, but he's not stupid enough to use his own money to pay for the project. That's how business works. A good example is in Hollywood. As rich as actors are, why do you think it's rare to see them finance their own films? They don't want to bare the brunt of that liability if the film fails so they get loans and investors. Education is essential.
ReplyDeleteYou are the one talking rubbish!
Delete@Financial graduate. You have been miseducated, just like many others. Are you his accountant to know he is worth over 100 million dollars? Individuals trying to live like nations. USA prides itself as the richest nation (now overtaken by China) but largely on borrowed money from financial institutions, they have the means to service the debts, even the UK. Financial theory is different from reality, apply the rubbish you've been thought to your life and see where it will land you. Fela Anikulapo advised us in his hit song Follow Follow' not follow book all the time, read it and apply your sense. Reeducate yourself!
DeleteAnd u know his worth COs ur his chief financial officer!. I commented earlier above&called out his kids&sis. Odogwu is worth nada!.!i mean absolute nada!He should pay the families he owes. Which of his businesses do you knw exist today.GOD remains on the throne.He should pay the families he owes fast.
DeleteAhhh!!!
ReplyDelete#Gan gan# greed only swallows u up *in davido's voice* see gobe
ReplyDeleteOga Abeg ooo, no only waka com?
ReplyDeleteHow only you go dey owe bank that kin money Eh?
I wasn't there when it started, so am definitely not gonna be there when it'll end.
So, no comments.
BRYTE TABLET FROM KONGA.COM
Rich debtors everywhere
ReplyDelete----#AUNTYLINDAgoddaughter#
Rich debtors Lool
DeleteLet him pay his debt nw
ReplyDeleteNa them sabi.....non of my business tho
ReplyDelete#abbytohxoft
Money is good I won't deny,but don't kill yourself for it,delfad2011@yahoo.com
ReplyDeletechai1 na wa oh
ReplyDeleteChai the Greed delfad2011@yahoo.com
ReplyDeletesad,bad,mad fly_fire_fox@yahoo.com
ReplyDeleteGrand Hotel Asaba is one of his numerous assets. This nigga ain't getting broke anytime soon. Sorry peeps
ReplyDeletediz big men r d biggest oni gbese
ReplyDeleteNigerian big men can owe.
ReplyDeleteYou all shld go home and ask ur old man if he has an uncleared debt before sum1 come knock on ur door
ReplyDeleteThis one na gobe. Original gone. How does he intend to offset all these bills. All these big men sef.
ReplyDeleteThats too much. benotekcomputers@gmail.com
ReplyDeleteHmmmm, Obumnemeudeze@gmail.com
ReplyDeleteOi everyone Should Google The Man's Networth And Add The Fact That He Is Currently One Of The Highest Property Owners In the Entire World, Take 20billion From Him And He Would Still Wipe His Ass With 100 Dollar Bills Till He Dies, Meaning On A Bad Day The Boss would be Richer Than Your Generations To Come. Over $350Million In Networth (accounted For) Bow down Bitches! (runs)
ReplyDeleteNa xoooo
ReplyDeleteThese debtors and their liver
ReplyDelete@anoymous 2:49pm Babangid's inlaw is Okogwu, not Odogwu.
ReplyDeleteOdogwu aka Ide of Ahaba is very wealthy and has been for a long time. The man is worth hundreds of millions of dollars, this ain't going to wreck him. His assets are just too vast and diversified, even outside Nigeria. This ain't new money.
better pay ur debt here before u can be chased to pay it in hereafter. nobody should go unpurnished.
ReplyDeletemjabdulk@gmail.com
Ordinary 19 accounts
ReplyDeleteOrdinary 19 accounts.... 26billion naira when people are wallowing in poverty, its sad and disheartening.
ReplyDeleteOritse femi gets attacked by robbers causing major accident.
http://sleek9ja.blogspot.nl/2014/12/musician-oritsefemi-gets-attacked-by.html?m=1
Log on to sleek9ja.blogspot.com for more info
ummmm
ReplyDeleteAll of you guys are just bitter. Do you know this man? He built his business since the 40's going door to door selling insurance. He was able to acquire properties all over the world and became the man he is through hard work.
ReplyDeleteIn business, you don't use your money for big projects like this, you borrow from the bank.
Also, he didn't borrow 26 billion naira from the bank. 80% of it is all interest. Of course he can pay it if he wants to but he has a problem with the interest.
Na wa 4 9jirians...una wahala too much sha! Here we are "gossiping" about <<>> Sunny Odogwu's alleged N26B debt, when the big boss is somewhere in Europe chilling with a big bottle of Champagne and asking his accountants why he's still not on the top 10 riches men in the world. Guys, listen up...this big boss is stinkingly rich! He's been getting big bucks long before most of you broke ass fools were even born. N26B debt??? Una don dey mad abi...???
ReplyDeleteI know him!!! I use to work for him in Asaba in Grand Hotel and worked close to him. He is mean but a very successful hard working man that has built a huge empire. I find this report very strange. Sure it will be resolved.
ReplyDeleteD guy is 10x richer than dat. Still very rich... Bulk of his investments aren't here. Only his real estate in SA can sort dis out& mind u, these are people runnings dis country from the shadows. Its a game, don't be deceived. I know d man, even till this morning.
ReplyDelete