I agree the bank shares are in the hands of other's, but they were not held by the ndic. it was the 100 million chrome energy shares held by the ndic. as everyone may recall, offor seperated his shares out back in 2005. now we know the reason. they were put up for collateral against his afex bank failure .two seperate sets of shares.
60 million_payoff to fab for another bad loan. those shares are their's and obviously they have changed hands since they are no longer in the filings,
100 million in chrome energy - ndic held until he paid off the Afex loan. assuming he made his 12 payments, I bet he did, he now has the shares back. these shares remain in the filings.
this may help.
Another debtor, Sir Emeka Offor, in a letter to Nwaogu, said he has resolved to liquidate his N1.2 billion debt to the African Express Bank in 12 months from June 1, 2009.
While noting in the letter dated May 14, 2009, that he has already deposited collaterals of shares valued at $300 million with the bank, he said, “in view of the foregoing representations, we humbly request that Chrome Group makes a good faith payment of N1.2 billion in 12 equal installments effective June 1, 2009 in full and final settlement of its indebtedness as against the outstanding balance of N934,952,129 needed to pay the outstanding deposit liabilities of the defunct African Express Bank Plc.”
this was the remaining balance, he had been paying the bulk of it since 2006.
Logically, if he had to make payments all along, he doesn't have the money that everyone thinks he has. also note, the value he placed on his 100 million shares. kind of interesting.
News 
Market Data 
Discover 
AI
