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N2.98bn debt: I no longer owe Intercontinental — Arisekola

By Ola Ajayi

IBADAN—Alhaji Azeez Arisekola Alao, Aare Musulumi of Yorubaland, weekend said he had paid the N2.98 billion debt he owed the Intercontinental Bank Plc in form of shares.

Recently, the Central Bank of Nigeria, CBN, had linked him with huge debts incurred by the bank which led to the sack of some bank executives.

He said he settled the debts about two weeks ago and that he was no longer owing the bank any money.
Alhaji Arisekola Alao made this clarification yesterday during the celebration of his 65th birthday in Ibadan.

Arisekola said, “I have paid all my debts with  Intercontinental Bank. I paid N2.98 billion about two weeks ago. So, I no longer owe the bank any kobo. I have paid all. But mind you, I don’t borrow money from banks; what I do is buy their shares. I don’t take any money from any bank other than buying shares. The Intercontinental Bank has not paid back my shares. They are making arrangements to pay it back because it was what I used as collateral.”


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