A Federal High Court sitting in Lagos on Thursday heard how loans running into billions of naira owed to defunct Intercontinental Bank Plc by some companies were written off while some enjoyed some waivers.
He gave the name of one of the companies as United Alliance Company Limited, with non-performing loans of N4.5 billion, N4.27 billion, and N10.97 billion. The witness mentioned companies such as Dice trade Nigeria Limited, which was said to be indebted to the defunct bank, in the sum of N1,892,313,792.14; Joy Petroleum Limited – N3.932 billion, Linkers Limited – N3,617,694,988.99; and Skye View Property, which loan of N200.8 billion was allegedly written off by Alabi.
Abdurahim also informed the court that as at the time Access Bank took over Intercontinental bank, he was aware it had branches and subsidiaries internationally, including Ghana and the United Kingdom. He also said he was not aware that the Central Bank of Nigeria queried Alabi for writing off the loans.
If this is true then bukolasaraki must be a wicked man who used his position as chairman Senate banking committee to write off his debt and punished Akingbola and other shareholders in Intercontinental..
Though this matter is in Court, what baffles me is that emphasis is not laid on the loan recipients who are known and working free! The Mds that wrote off loans of billions of Naira are not being held! 😎😎
When will this case end
W
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