The publication by African business journal stated that Mike Adenuga was revealed to be a debtor to AMCON, among others, by a newspaper a couple of years ago. Asset Management Corporation of Nigeria (“AMCON”), according to Quartz Africa is the ‘bad bank’ set up in 2010 to stabilize the Nigerian banking sector after it had run into all sorts of trouble making dud loans.
Excerpt from the journal’s publication read;
‘The best thing about Paddy Adenuga’s story is that he did not win the bid. Indeed, Adenuga senior was revealed to be a debtor to AMCON, among others, by a newspaper a couple of years ago. The last time AMCON published a list of its top 100 debtors, the top three were all oil and gas companies with close to $1 billion outstanding among them. All of them taken out in the heady days of $100 oil and aggressive assumptions about how much money it was possible to make’.
However reacting to this, Paddy Adenuga tweeted;
‘The @qzafrica article’s attempt to tie my chevron NL acquisition with AMCON is dangerous, ill-informed, and a case of poor journalism. i’d never use Nigeria’s tax payer money for a private European deal – NEVER! i’m open to criticism – i am just not open to lies and falsehoods’.
Since Paddy Adenuga released the promised article on how he came close to buying the Chevron facility in Netherlands without his family’s help, he has faced lots of criticism.
Rather than Nigerians drawing motivation from his story, some Nigerians have come out to criticize the billionaire son, one of such persons is Media Personality Shade Ladipo. Shade Ladipo thinks it is completely ridiculous for him to say that he almost bought Chevron if he hadn’t used his father’s name. PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> How I Made Me =N=2.5 MILLION In 7 Days from 2 Common Product I Imported and how you can do the same. Click HERE FOR FREE Details right now Warning To Men: This 3 Foods Is Killing Your Erection. Click Here To Know Them Secret Fruits that increased my Manhood and makes me last 55 minutes+ all time - Click here to get it Warning: Got Arthritis? 3 Simple Ways To Get Cured And Be Permanently Free From Joint Pains. Click Here To See Them REVEALED!! Reduce Your Blood Sugar Level And Reverse Diabetics Within A Short Period Of Time. Click Here To See How MIDNIGHT,Pressed Mr Kilanko Suddenly Couldn't Urinate. Shrink your Enlarged Prostrate Here! Click Here Now