{"id":78761,"date":"2021-02-24T18:08:49","date_gmt":"2021-02-24T17:08:49","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=78761"},"modified":"2021-02-24T18:08:49","modified_gmt":"2021-02-24T17:08:49","slug":"chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/","title":{"rendered":"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties"},"content":{"rendered":"<div dir=\"ltr\">Chairman of Seplat Oil, Dr. A.B.C. Orjiakor used two phoney companies to<\/div>\n<div dir=\"ltr\">secure a $150 million loan from the now defunct Diamond Bank, and is now<\/div>\n<div dir=\"ltr\">using several legal tricks to evade repaying the loan despite several<\/div>\n<div dir=\"ltr\">court orders, Pointblanknews.com investigations have revealed.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">This comes on the heels of Seplat&#8217;s refusal to pay $1.8 billion and<\/div>\n<div dir=\"ltr\">another N8,825,778,039.61 it owes the Federal Government of Nigeria in<\/div>\n<div dir=\"ltr\">underpaid assets from its joint venture with Nigerian Petroleum<\/div>\n<div dir=\"ltr\">Development Company (NPDC).<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Seplat is not new to tax evasion and and non-performing loans. In April<\/div>\n<div dir=\"ltr\">2015, the then Minister of the Economy and Minister of Finance Dr. Ngozi<\/div>\n<div dir=\"ltr\">Okonjo-Iweala queried the Nigerian Investment Promotion Commission<\/div>\n<div dir=\"ltr\">(NIPC) for granting dubious tax waivers to Seplat, resulting in the loss<\/div>\n<div dir=\"ltr\">of over 150 US dollars to the Nigerian government.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Seplat Petroleum, as an oil exploration company, is not eligible for tax<\/div>\n<div dir=\"ltr\">exemption called pioneer status. However, bribing top NIPC officials,<\/div>\n<div dir=\"ltr\">Seplat was able to get a tax waiver of over $150 million, which prompted<\/div>\n<div dir=\"ltr\">the then Finance Minister to raise the query.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">When a major newspaper broke the scandalous story on Seplat&#8217;s tax<\/div>\n<div dir=\"ltr\">evasion, Orjiakor pulled several powerful strings, culminating in the<\/div>\n<div dir=\"ltr\">firing of the NIPC boss, Ms. Saratu Umar, a week to President Goodluck<\/div>\n<div dir=\"ltr\">Jonathan handing over to President-elect Muhammadu Buhari.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Curiously, after the story broke, Jonathan&#8217;s Minister of Trade and<\/div>\n<div dir=\"ltr\">Investment, Olusegun Aganga literally turned Seplat&#8217;s spokesman,<\/div>\n<div dir=\"ltr\">addressing a chain of press conferences to exonerate the oil company. He<\/div>\n<div dir=\"ltr\">even published the text of his press conferences in several national<\/div>\n<div dir=\"ltr\">newspapers. NIPC sources claimed Seplat heavily compromised the<\/div>\n<div dir=\"ltr\">minister.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Orjiakor\u2019s $150million loan, sources close to the deal disclosed,<\/div>\n<div dir=\"ltr\">largely contributed\u00a0 to the liquidation of Diamond Bank, and ultimately,<\/div>\n<div dir=\"ltr\">to the bankruptcy of it&#8217;s founder, Mr. Pascal Dozie.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The loan was secured by a fixed and floating debenture over the assets<\/div>\n<div dir=\"ltr\">of one of the phoney companies, Cardinal Drilling.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Checks revealed that Cardinal Drilling was unable to service the<\/div>\n<div dir=\"ltr\">outstanding part of the facility, prompting Access Bank Plc, which<\/div>\n<div dir=\"ltr\">absorbed all the assets and liabilities of the now defunct Diamond Bank<\/div>\n<div dir=\"ltr\">Plc, to pursue a recovery of the outstanding of the loan and accrued<\/div>\n<div dir=\"ltr\">interests<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Pointblanknews.com investigations revealed that in November 2010,<\/div>\n<div dir=\"ltr\">Orjiakor, using some fronts, registered Cardinal Drilling ostensibly to<\/div>\n<div dir=\"ltr\">provide drilling services for Seplat Petroleum. He had registered Shebah<\/div>\n<div dir=\"ltr\">Exploration and Production Company Limited\u00a0 seven years earlier, in<\/div>\n<div dir=\"ltr\">December 2003.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Orjiakor used Cardinal Drilling and Shebah Exploration, his two special<\/div>\n<div dir=\"ltr\">purpose vehicles, SPV, to obtain the $150million loan facility from the<\/div>\n<div dir=\"ltr\">defunct Diamond Bank to purchase Casing Drive System (CDS) Rigs 101,<\/div>\n<div dir=\"ltr\">201, 202 and 203 models.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Pointblanknews.com further gathered that when Access bank took over<\/div>\n<div dir=\"ltr\">Diamond Bank, they approached Orjiakor&#8217;s fronts &#8211; Cardinal and Shebah<\/div>\n<div dir=\"ltr\">Exploration &#8211; to honor the terms of the loan facility agreement and<\/div>\n<div dir=\"ltr\">repay.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Both parties ended up in the High Court of justice, Queen\u2019s bench<\/div>\n<div dir=\"ltr\">Division, London. The Supreme Court of the United Kingdom ordered<\/div>\n<div dir=\"ltr\">Orjiakor, Shebah Exploration and Seplat Oil to pay $144.2million being<\/div>\n<div dir=\"ltr\">the outstanding and accrued interests on the loan facility granted in<\/div>\n<div dir=\"ltr\">2011 by Diamond Bank and others.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Orjiakor again went into his play book, refusing to pay. Access Bank<\/div>\n<div dir=\"ltr\">which had taken over the ownership of Diamond Bank, approached a Federal<\/div>\n<div dir=\"ltr\">High Court, sitting in Lagos. The Court once again, upheld the same<\/div>\n<div dir=\"ltr\">judgement of the High and Supreme Courts of the United Kingdom.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">interestingly, Orjiakor is now maintaining that Cardinal Drilling and<\/div>\n<div dir=\"ltr\">Shebah Exploration are not part of Seplat, relying on the fact that the<\/div>\n<div dir=\"ltr\">two companies do not have his name or that of Seplat as directors.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Unknown to Orjiakor, Cardinal Drilling on their website -which they have<\/div>\n<div dir=\"ltr\">since fraudulently disabled &#8211; stated they were \u201cmidwifed\u201d by Orjiakor&#8217;s<\/div>\n<div dir=\"ltr\">Seplat.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Prior to the disabling, Cardinal Drilling, in indicating that it was<\/div>\n<div dir=\"ltr\">mid-wifed by SEPLAT Plc, remarked: \u201cThe above innovative commercial<\/div>\n<div dir=\"ltr\">arrangement of SEPLAT mid-wifing CARDINAL DRILLING Nigeria Limited<\/div>\n<div dir=\"ltr\">enabled CARDINAL DRILLING Nigeria funding to be realized as Maurel &amp;<\/div>\n<div dir=\"ltr\">Prom through CARDINAL DRILLING SAS will contribute 40%.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Seplat has also consistently disclosed in both its interim and annual<\/div>\n<div dir=\"ltr\">reports that Cardinal Drilling is a related party. This is at total<\/div>\n<div dir=\"ltr\">variance with the oil company&#8217;s\u00a0 position elsewhere.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">On it&#8217;s indebtedness to the Nigerian government, a federal government<\/div>\n<div dir=\"ltr\">report\u00a0 recommended that the $1.8 billion and N8.8 billion Seplat owed<\/div>\n<div dir=\"ltr\">in unpaid royalties be &#8220;recovered&#8221;. However, this appears a tall order<\/div>\n<div dir=\"ltr\">as Seplat is known to have prominent members of government on it&#8217;s pay<\/div>\n<div dir=\"ltr\">roll.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">However,\u00a0 joined in the suit filed by Access Bank is Kalu Nwosu, who<\/div>\n<div dir=\"ltr\">reportedly issued a personal guarantee and a statement of personal net<\/div>\n<div dir=\"ltr\">worth as security to the facilities availed to SEPLAT.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Access Bank noted that SEPLAT had solely enjoyed all the benefits of the<\/div>\n<div dir=\"ltr\">facilities granted Cardinal Drilling to its advantage and wholly for the<\/div>\n<div dir=\"ltr\">promotion and advancement of its businesses.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">It described Seplat as the &#8220;real debtor&#8221; with Cardinal is merely a<\/div>\n<div dir=\"ltr\">&#8220;vehicle smokescreen&#8221; for the purposes of the subtle obtainment of<\/div>\n<div dir=\"ltr\">credit facilities by Seplat.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">According to court documents filed by Access bank, Clause 6 of the Deed<\/div>\n<div dir=\"ltr\">of Debenture allows it to appoint a Receiver\/Manager over Cardinal\u2019s<\/div>\n<div dir=\"ltr\">assets should Cardinal fail to liquidate the facility. On 12th October<\/div>\n<div dir=\"ltr\">2020, Access Bank appointed Kunle Ogunba &amp; Associates to act as the<\/div>\n<div dir=\"ltr\">Receiver\/Manager.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Access Bank asked the Court to validate the appointment of Kunle Ogunba<\/div>\n<div dir=\"ltr\">&amp; Associates as the Receiver\/Manager; validate the Receiver\/Manager\u2019s<\/div>\n<div dir=\"ltr\">authority to take possession of Cardinal four rigs and other assets of<\/div>\n<div dir=\"ltr\">persons and companies presumably connected to Cardinal drilling.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">It also prayed the court to restrain all defendants from disposing or<\/div>\n<div dir=\"ltr\">dealing with the assets, and declare that the defendants have no right<\/div>\n<div dir=\"ltr\">to enter into, or deal with any of the assets.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Chairman of Seplat Oil, Dr. A.B.C. Orjiakor used two phoney companies to secure a $150 million loan from the now defunct Diamond Bank, and is now using several legal tricks&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":78762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-78761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Chairman of Seplat Oil, Dr. A.B.C. Orjiakor used two phoney companies to secure a $150 million loan from the now defunct Diamond Bank, and is now using several legal tricks&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-24T17:08:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"708\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties\",\"datePublished\":\"2021-02-24T17:08:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\"},\"wordCount\":973,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg\",\"articleSection\":[\"Exclusive\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\",\"name\":\"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties - Pointblank News\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg\",\"datePublished\":\"2021-02-24T17:08:49+00:00\",\"author\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"breadcrumb\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg\",\"contentUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg\",\"width\":1080,\"height\":708},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pointblanknews.com\/pbn\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties - Pointblank News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/","og_locale":"en_US","og_type":"article","og_title":"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties - Pointblank News","og_description":"Chairman of Seplat Oil, Dr. A.B.C. Orjiakor used two phoney companies to secure a $150 million loan from the now defunct Diamond Bank, and is now using several legal tricks&hellip;","og_url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/","og_site_name":"Pointblank News","article_published_time":"2021-02-24T17:08:49+00:00","og_image":[{"width":1080,"height":708,"url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg","type":"image\/jpeg"}],"author":"Our Reporter","twitter_misc":{"Written by":"Our Reporter","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#article","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/"},"author":{"name":"Our Reporter","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"headline":"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties","datePublished":"2021-02-24T17:08:49+00:00","mainEntityOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/"},"wordCount":973,"commentCount":0,"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg","articleSection":["Exclusive"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/","url":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/","name":"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties - Pointblank News","isPartOf":{"@id":"https:\/\/pointblanknews.com\/pbn\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage"},"image":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage"},"thumbnailUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg","datePublished":"2021-02-24T17:08:49+00:00","author":{"@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c"},"breadcrumb":{"@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#primaryimage","url":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg","contentUrl":"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/02\/B726A456-6572-4492-BC20-6520631F341A.jpeg","width":1080,"height":708},{"@type":"BreadcrumbList","@id":"https:\/\/pointblanknews.com\/pbn\/exclusive\/chronic-debtor-billionaire-abc-orjiakor-subterfuges-repaying-150million-loan-owes-fg-1-8-billion-n8-8-billion-in-royalties\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pointblanknews.com\/pbn\/"},{"@type":"ListItem","position":2,"name":"Chronic Debtor-Billionaire ABC Orjiakor Subterfuges Repaying $150million Loan, Owes FG $1.8 billion, N8.8 billion In Royalties"}]},{"@type":"WebSite","@id":"https:\/\/pointblanknews.com\/pbn\/#website","url":"https:\/\/pointblanknews.com\/pbn\/","name":"Pointblank News","description":"Just the news","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c","name":"Our Reporter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g","caption":"Our Reporter"},"url":"https:\/\/pointblanknews.com\/pbn\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/78761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/comments?post=78761"}],"version-history":[{"count":0,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/posts\/78761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media\/78762"}],"wp:attachment":[{"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/media?parent=78761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/categories?post=78761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointblanknews.com\/pbn\/wp-json\/wp\/v2\/tags?post=78761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}