How 350 Unknown "Bigmen" are Killing Nigeria economy with N5.4trillion Debt

THESE ARE PART OF THE REASONS WHY WE MUST BE CAREFUL IN KNOWING WHO WANTS TO BE BE PART OF THE GOVERNMENT!


"The Assets Management Corporation of Nigeria AMCON, the company that was set up to help the rich buy their debts, told us last month that, 350 Nigerians {out of 200million citizens} are responsible for 80% of AMCON's N5.4 trillion debt portfolio.

May be you did not read that well!

AMCON said only 350 Nigerians borrowed N5.4trillion from banks, which they could not pay and AMCON came in to buy up those debts in other to save the commercial banks from collapsing.

To put that in perspective;
2018 Capital Budget is N2.4 trillion
2018 Recurrent Budget is N3.4 trillion
Add both capital and recurrent votes and you will get N5.8 trillion.

But 350 Nigerians, out of 200 million of us borrowed that same amount, they refused to pay and government came round to buy the debts over through AMCON.

The corporation also pointed out that, out of the millions of BVN numbers with the banks, only 100 BVNs collect 60% of bank lendings.

And this has left the banks with 13,000 bad loans worth 5.6trillion borrowed by "big men" who are now fighting to remove this administration so that they wont ever pay their debts!

Now, when they go to recover from defaulters like they did with Silverbird for example, the same cheated ignorant commoners are the first to cry fowl.

Some of the companies owing include:
Seaworlf Nig Ltd - 160billion
Arik Air - 300billion
Tanzila Petroleum Ltd 49.2billion
Resort Int'l Ltd - 36.3billion
Home Trust Savings - 25.75billion
Suru worldwide ventures - 24.4billion
Roygate properties- 23.26 billion
Ziglagsis network Ltd - 20.33 billion
Lexcap partners - 18billion
Anyiam Osigwe Ltd - 17.25billion
Silverbird - 11 billion
Wokson International - 5 billion

From the figures above:
Arik alone is owing more than the 2018 Ministry of Transportation budget which is N263 billion.
Seaworlf Nig Ltd, is also owing more than the 2018 Ministry of Defence budget which is N145 billion.



Taken from Michael Ogueke's