Inside The Cesspool Of “Protection Racket” That Reveals Why Big Name Bank Debtors Will Always Evade Public Shaming, Avoid Prosecution!

…as management, regulator and govt figures protect their own

Emerging details have it, all the noise about publicly shaming those who owe financial institutions crippling debts by publishing their names as remained – mere noise.

‘’those you see may be debtors but they are not the real deal…the big fishes’’ a source stated.

The real debtors making the operations of the banks to stagger with what they owe and has refused to pay are protected societynowng.com learnt.

Insiders disclosed the activities that provide cover for these big names debtors is better termed ‘’a cesspool of protection racket’’.Those who should know disclosed with their influence and clout the, target of the public shaming move rape the process at every step of the way.

Digs revealed the steps to publishing the debtors list include sending final list to industry regulator Central Bank for approval before publishing.

Societynowng.com gathered at the end of the day some names get expunged without recourse to banks affected or cogent explanation.
Even within the banks directors and other players scramble to ensure their ‘’persons’’ are not listed.

Powerful figures in government both at the state and federal level are said to ply pressure to stop disclosure of certain identities.

‘’so at the end of the day it’s all about protect their own from management to industry regulator and even government figures…for what?, obviously favours in different denominations’’ societynowng.com gathered.

Insiders disclosed listed debtors end up being those without clout or with waned influences.

‘’am not saying the listed debtors are victims no….they are part of the problem as well but they are not the main issues, they are just sacrificial crumbs while the big fishes carry on business as usual thanks to ability to peddle influence..the story of nigeria’’ a source stated.