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By Brown Chimezie Managing Director/Chief Executive Officer of Japual Oil and Maritime Services Plc, Mr Jegede Paul, has charged young
Views: Visits 67 Following Access Bank and Diamond Bank‘s merger in 2018, the latter had loans and advances of about N787.8 billion out of which N219.9 billion in loans were impaired. Oil and gas-related loans made up a significant chunk of the loans and were estimated at about N302.6 billion, most of them distressed. Of the total oil and gas loans, $66.4 million was owed by Japaul Oil and Maritime. The loans had gone bad and accumulated unpaid interest of about $11.2 million. When Access Bank took over the loans, Japaul agreed to a restructured rollover of both the principal and i...