Nigerians should be properly informed!
AMCON does not just wake up and shut down or take over people's businesses. In fact, AMCON sole aim is to prevent businesses from failing.
I read Ben Bruce response, giving false assurances that the problem is a minor case that is being sorted out and he will soon be back to business. I wish it were that simple. But BMB is simply economical with the truth.
For AMCON to take possession of the senator's business, it means the following things had happened:
1. Ben Bruce approached a bank for a loan and the bank obliged him without due diligence on the part of its credit risk assessment policy.
2. Ben Bruce defaulted on his loan payment, meaning he could not pay back or service the loan as agreed.
3. Since the bank loan comes from depositors savings, Bruce's failure to repay will affect the bank ability to fulfill depositors obligation. The bank faces liquidity crisis.
4. AMCON was created for this kind of scenario, to prevent banks from failing as a result of loan repayment failures.
5. Therefore, since Bruce has failed to meet his debt obligations as agreed, that loan is now characterized as a bad debt, a non performing loan.
6. AMCON then stepped in, buying Bruce's non performing loan, supplying the bank with the needed liquidity so that it does not fail. Bruce's loan now transferred to AMCON.
7. AMCON then sat with Bruce and renegotiated the terms of the loan, giving him a cheaper servicing rate and longer repayment period.
8. Still Ben Bruce failed the second time to service and repay the debt as renegotiated.
9. AMCON then stepped in to take over the business, to run the business for a period it takes it to recoup its loan since Bruce has proved incapable of running a profitable business even at flexible AMCON terms.
But wailers will say the AMCON takeover is political and anti-business. Now, be the judge.
My name is Muhammad usman AKA mohnice and i just want tonmake common sense

IN THE BOOK OF COMMON SENSE, WHICH CHAPTER CAN ONE FIND THE BRUISES OF CONSCIENCE!
Before now, how many Nigerians knew that Ben Bruce was owing any bank these huge sums of money? How many times Nigerians were meant to see that Ben Bruce was the most favorite of Late Stella Obasanjo and that he was fronting for her? Not knowing that he had the presidential support in the days of his friendship with the Late 1st Lady to chop off N11 billion from our National Treasury in the name of Loan. If not for bad intent, how will you collect bank loan for years without servicing the loan with even one kobo, was he expecting that loan to be written off as bad debt?
Who is fooling us here, how possible is it for one to get a N1billion Loan from any bank in Nigeria and what kind of collateral did he used in getting an N11billion loan?
I am sorry to see it in a different light. Such loan was product of impunity and impunity is the first cousin of corruption.
What symphaty does such individuals deserve from poor citizens that have no access to resources only those with friends in high places?
IT IS THE SAME YOU THAT COLLECTED N11BILLION LOAN WITHOUT PAYING BACK ONE SINGLE KOBO AND YOU'VE BEEN CHANTING HOW THE NIGERIAN YOUTHS CAN BECOME WORLD CLASS TECHNOLOGY ENTREPRENEURS IF GIVEN THE CHANCE. WHICH OF THE CHANCE THAT YOU TOOK AWAY FROM MANY?