OrderPaperToday – Senator Michael Opeyemi Bamidele (APC, Ekiti) has denied taking loan from either the defunct Oceanic Bank or Sterling Bank.

According to Bamidele, the recent media reports of an alleged loan is “sponsored, politically motivated and maliciously aimed at maligning my image”.

He made this known in a statement issued by the media office on Thursday.

The senator explained: “To set the record straight, Sen. Michael Opeyemi Bamidele (M. O.B.) never borrowed money or took any conventional loan from either Oceanic Bank, Sterling Bank or any Bank whatsoever which has become a subject of court litigation as insinuated.

“Neither does he have any large fund with Sterling Bank which a court order not to be released to him as maliciously reported.

“He maintained two accounts with Sterling Bank with balances of N25,000 and N7,000 each and both accounts have been dormant for over ten years”

“It is important to clarify that the case is in respect of a financial transaction way back since 2007 (thirteen years ago) between Sen. Bamidele and Oceanic Bank, which deceived him and many other innocent investors to invest their monies in shares to be managed by the Bank through its subsidiary company called Oceanic Capital.

“The Bank eventually mismanaged the invested funds as well as customers deposits, which, in fact, led to the collapse of the Bank while the shares equally lost value.

“In fact, it is public knowledge that the management of Oceanic Bank faced prosecution for mismanaging investors’ money.”

He further stated that he had joined AMCON in the pending suit with the aim of proving that the banks are owing him instead.

“Contrary to the attempt by some political gladiators and pseudo online reporters to portray Sen. Bamidele as a debtor, he is proudly joining issues with AMCON in court, through his counter claim, to show that it is Oceanic Bank and its promoters who are owing him money as a good faith investor in the capital market through the mergin facility syndicated by the Bank”, he said.

According to Opeyemi, the whole scenario is not far-fetched from those masquerading to malign his reputation ahead of the 2022 Ekiti Governorship Election and 2023 Presidential Elections.

Recall that on the 11th of January, 2021, AMCON informed that there are 350 debtors owing N3.6 trillion which represents 80 per cent of the N4.4 trillion of the total outstanding debt.

This follows the mandate on the Asset Management Corporation of Nigeria (AMCON) created in 2010 to look into non-performing loans and recover same from the debtors and return the funds to government coffers to support the economy.


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