It has come to this. In the free-for-all that was our banking system, even a nanny could obtain a N13 billion loan from one of our top banks. Especially if she was the owner's nanny.
Such was the good fortune of Nanashetu Abdulai, who served Cecilia Ibru as nanny to her eldest son, Oboden.
In our banking system, this was enough collateral to persuade Oceanic Bank, which is now on life support and has been taken over by the Central Bank, to extend billions to Nanashetu. At least officially.
Ms. Abdulai, 51, also known as Nanashetu P. Bedell, received what is now being called the "nanny loan" based solely on her relationship with Mrs. Ibru, who is now a fugitive from the law and is wanted on fraud, money laundering, and stock manipulation charges by the Economic and Financial Crimes Commission. As at May 31, the loan was non-performing, according to a list released by the Central Bank.
Attempts to reach Ms. Abdulai at both her office and by telephone were unsuccessful.
Ms. Abdulai secured the loan as the sole director of Circular Global International Ltd. The company turned up as debtor number 13 on the CBN list of debtors to Oceanic Bank. Ms. Abdulai is also the chief executive of the upscale corporate and household gift items suppliers called Nanshet Limited. Its head office is on Akin Olugbade high street, Victoria Island in Lagos.
Nanshet Ltd trades in corporate and household gift items and supplies majority, if not all, of Oceanic Bank's corporate souvenirs and staff insignias. Mrs. Ibru's signature neckties are samples of Nanshet's supplies.
Nanshet Limited started business in 1990 selling only christian books and gifts. It now specialises in the procurement and distribution of electronics, household items and corporate gifts on a wholesale and retail level. It opened an American office in 2002.
Ms. Abdulai was the nanny to the former Managing Director of Oceanic Bank and the first son of Mrs. Ibru, Oboden Ibru, but has become a close member of the family.
"She is generally called Sister Nana within Oceanic Bank," said one source. Another source referred to her as "Cecilia Ibru's twin sister," establishing the close relationship which Ms. Abdulai shares with the Ibru family and also alluding to the influence that Ms. Abdulai wields away from the domestic domain of the Ibru family to the corporate quarters where public funds are held.
"It is conventional wisdom in Oceanic that the fear of Sister Nana is the beginning of wisdom," said an insider who pleaded anonymity at Oceanic Bank Headquarters on Ozumba Mbadiwe Street on Victoria Island, Lagos.
No. 4 Akin Olugbade Street is just a white, plain looking one-storey building that is unremarkable in every aspect apart from sharing a fence with an Oceanic Bank branch. It looks more like a residential building than an office space. In a section of the compound, heaps of ceramic tiles are packed amid large wooden boxes.
Nanshet Mega Stores sells luxury gift items, such as flower vases, ceramic plates, steel trolleys and large aluminium and enamel pots and dishes. It is located at the ground floor of City Mall directly opposite the entrance of the mall.
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