Monday, September 14, 2009

Access Bank, Sanusi And The 16 Billion Naira Loan

Is it true that United alliance belonging to the MD and DMD of Access bank owes Intercontinental bank 16 billion according to CBN debtor's list?Is it true that the money was use to buy access bank shares?Since Access bank cannot use his own money to buy his own shares, he can float a company and collect money from another bank to buy the shares and return the favour to the other bank by also giving them loan, nice way of beating BOFIDWe are told they ve paid back another 1billion so the loan is performing, but is it true that the value of shares is just about 50% of the loan as at now?The bank might write off the loan but what is Sanusi saying about it?

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