you have a point there but consider this nigeria is the most populous african country on earth, if we nairaland citizens all invest a little into this company, we can determine and control the destiny of Africa and create much needed jobs.

;d ;d ;d ;d

I have said it before and I stand to be corrected. Transcorp has no future. I bet you all, the next administration ,come 2007 would make it one of their set goals to kill tarnscorp. For those of you who have invested in their PP, this may be bad business. Its an OBJ thing, much more like Operation Feed the Nation. OFN.

OBJ has no political mass. I bet you the next administration would be made up of mainly anti-third term elements. Transcorp would be finished as a result of this. U can bet on this. Its no prophesy.

For the Doubting Thomases. I told U Festus Odimegwu was bad biuz on the Board. He has been expelled from the board of NB Plc. It was a request by shreholders inm the last AGM. If not for the President who pleaded on his behalf it was a big disgrace. They covered it up by saying he was embarking on a six months study leave to Harvard and Stanford Universities.

Good Riddance to Mr Bukuru. He kept on boasting and dwelling in the past of his Ist Class Chemistry degree at Nsukka as if it was the greatest feat ever accomplished by man. Big deal? I know a couple of First Class degree holders. Two in my Family for that matter. And me, Never mind. Its never been a least expected in my home front anyway.

I even know one who has been into rural evangelism since graduation cum laude in Electronics Engineering.

What matters most is your positive contributions to humanity
His pride led to his fall.

rotbog, please if you have the source for d story about odimegwu festus, i really want to know more.

plz guyz, i really need to post my cv with trans-national corporation.can anybody kindly give me d link?tnx

@Rotbog,
Are you sure? When is Odimegwu leaving?
I have a parcel for a friend studying at Stanford.

I'd really appreciate info on his E.T.D.

Thanks.

@Rotbog,

I don't have all the facts, but I am not so sure that Festus Odimegwu has been ousted from the
board yet, though, I think he is on his way out, I find it hard to believe that a CEO of a major
company will be absent from his post for six months on some trainging excuse. Nevertheless, his
open calmour for Third Term was unprofessional, and its payback time. Having said that, I won't
go as far as comparing Transcorp to OFN - its just not the same thing.

Well, i still need a source for this festus and if he's truly on 6 month whateva, be sure he wont come back as the MD, he would be replaced b4 he's back. Transcorp would be like OFN, time would tell. OFN was funded by the Govt, aimed at improving the agro sectors, funny enough turned out to be the personal property of one person and you wont be suprised if Transcorp ends up like that bcus it is He would implemented OFN many years ago that is still the He implementing Transcorp today. _{"You can always change how you look but you cant change what you truly are inside "}

Guys,

Stop this lazy thinking. OFN was a government program. Transcorp is a private corporation owned
by private individuals - and yes possibly including some government officials. Even Obasanjo OPENLY said that he will invest in the company and I am sure he has, but while there might be a conflict of interest, I don't think that itself is a crime. There is a big difference! Really, there is no use arguing any more as you guys have made up your mind already with unsubstantiated information. There are
certain risks associated with any venture, political risk is one of them. There is a good chance Transcorp might be nationalized by a new government, but there is also a very good chance that Transcorp is here to stay. If they are nationalized, the government will still have to deal with how to compensate the average Nigerian that may have invested in the company - tens of thousand of them.

iyke-d

you are entitled to your opinion but mind your comment gentle man abi na gentle woman i go talk. i aint a lazy thinker and i know what i am saying. Transcorp would have worked if obj has not shown us the kind of human he is, no matter how much encourgement he has shown to transcorp, i am so sure that he must have huge amount of share in it and thats the only reason why he wants to see it work

and for the govt refunding the public, then i am so sorry to say that in a country like nike, you dont get refund so easily, because if liquited banks are to pay back the shareholders and their customers in 3 months and this is 5 months with no refund, i wonder how refund can be effective.

We want something good to happen to this nation but men from experience, these guys always have an agenda. Dangote,Festus,Ndi and you name it, they all av their personal shit and i tell you this ppl dont have our interest at heart.

Ashiwaju

I understand your (everyone) frustration with Nigeria but that does not mean we have to be
negative about everything. Obasanjo for all his faults (illusion of grandeur included) is actually
one of the better leaders that Nigeria has had to date. I am sure people some people will
disagree, but that is my personal opinion. Yes, I don't live in Nigeria and my opinion has been
formed based on what I have observed from outside. But the truth is, there is SHIFT in opinion
about Nigeria from the outside world - that is a fact, and it did not happen by accident. People
or institutions are beginning to take a second look at Nigeria. In the long run, this shift might
benefit Nigerians.

You said:
"We want something good to happen to this nation but men from experience, these guys always
have an agenda. Dangote,Festus,Ndi and you name it, they all av their personal rubbish and i tell
you this people don't have our interest at heart."

I agree, most of us want something good to happen to Nigeria, but guess what, the super rich will
not disappear from the scene. It never happens. Power comes with money and almost no one ever
cedes their power for nothing. Every society has its Dangote, Festus, or Ndi, and of course how they
operate depends on what is permissible in their environment. This new government you keep talking
about will come with its own brand of thieves, old and new. They will implement policies favorable to
themselves.

My only hope is that they use the money they steal to buy into Transcorp or form a similar company
which will at least provide employments for more Nigerians, and hopefully help some sectors of the
economy to develop. Until we are able to eliminate public looting of funds completely in Nigeria, the
best we can hope for is that they invest the stolen money right here in Nigeria. At least with Transcorp,
you get a chance to own a piece of Nigeria, just like Obsanjo and Dangote by buying some shares,
even if its 500 shares compared to Obasanjo's 50million shares. Is there a similar setup that IBB,
Abacha, and the rest of them have setup for ordinary Nigerians? I don't think so.

Finally, I have a solid insider account that Mike Adenuga has also invested in Transcorp during their
just concluded private placement phase. You honestly think a new leader is going to come and toy
with the investments of people like Dangote and Adenuga? Well, they can but they better be ready
for a regime change - say hello to the army boys.

The good intention of the present administration concerning Transnational Corporation of Nigeria Plc (Transcorp) can never be over-emphasised. However,will it not eventually be diverted again at the expiration of the present government as the Operation Feed Nigeria of the early 70s was turned to a personal OFN? What can the accronym - Transcop be turned to mean at the end of this present government. Lets think ahead,

Iyke-D:

Well, they can but they better be ready
for a regime change - say hello to the army boys.

@Iyke-D
Army Boys? Oh,,, Not Again,

solafancy,

I hear you well. The main difference I am trying to point out is that OFN was a policy,
used to empty the treasury, just like Better Life for Rural Women, DFFRI, or MAMSER,
etc. Transcorp on the other hand is a corporation owned by private individuals - both
the super rich and the fairly well to do. Its shares will be publicly traded in the stock
market soon for ALL who can afford to buy. Their crime right now is their closeness to
the seat of power, mind you most businesses around the world will kill to have such
closeness because that usually translates to government concessions and favorable
policies.

Iyke D,

Your response to this topic encouraged my joining the forum. You have indeed shown an increased and unparalleled wisdom in your view on the present topic.

We must be able to argue intellectually and not like the uneducated, especially when it concerns intellectual topics like politics, corporate organisations (be it public or private), etc. This is not thesame as moral argument, one must be able to deduce intellectually and your conclusion premised on a sound and well informed background.

I join my thoughts with yours ! NEEDLESS I SAY MORE!!

Hi guyz,

I believe we all understand the priniciple of Investment, whether or not a Company will thrive till eternity should not be our concern. I believe, we all want to trade with figures on the floor of the stock xchange.

Any moment from now, transcorp will come out with IPO @ around 10 naira. It simply means guyz that bought @ 6 naira like 2 months ago, can make over 60% ROI within 3 months.
I also bet you that within 2 months after being listed on the stock exchange the shares will trade for nothing short of N15 (whether its hype or real performance of the company). This is a real bullish market. Make ur money and forget about the politics, did i make sense folks?

When will transcorp be coming out with its IPO? Does anyone have an exact date cuz im quite interested

Garuba,

Last I heard, the IPO was slated for end of second quarter (end of June).
So most likely if it doesn't happen within the next two weeks then it may
be in third quarter or so.

olat:

Hi guys,

I believe we all understand the priniciple of Investment, whether or not a Company will thrive till eternity should not be our concern. I believe, we all want to trade with figures on the floor of the stock xchange.

Any moment from now, transcorp will come out with IPO @ around 10 naira. It simply means guys that bought @ 6 naira like 2 months ago, can make over 60% ROI within 3 months.
I also bet you that within 2 months after being listed on the stock exchange the shares will trade for nothing short of N15 (whether its hype or real performance of the company). This is a real bullish market. Make your money and forget about the politics, did i make sense folks?

i feel you!

Guys,

Transcorp IPO wldd be out next month. Watch out for the promos, they've been on air lately local and cable TVs.

Glad y'all subscribe to buying into a good investment. Really its about your ROI, 4get about the Politics, every huge multinationals all over the world has its own political inclination. Unless they're not HUGE!

Cheers!

Anada paid annoucement i ll say!

[color=#770077][/color][size=8pt][/size] ME thinjs TRANSCORP will really go a long way on ROI so i will sell off my miserable CONOIL stock and put the whole thing into TRANSCORP and i know in no time,i will look back and say "JOLLY GOOD MOVE LAD". so i advise everyone to follow suit as its going to be BIG.

Well Ashiwaju, it comes free to you!

For now!!

Doing business in Nigeria can be rough, uncompromising and unpredictable.
However, this is one of the few Nigerian companies I will be investing in when the IPO is launched in a few months time. I think Transcorp's closeness to OBJ has come at a cost, which ultimately will be nothing compared to the benefits. Their greatest asset though, is in the abilities of it's collective management team - Elumelu, Femi Otedola, Fola Adeola, Okereke, Ovia etc and the business opportunities that abound in the country. These individuals are tried, tested , seasoned (locally) and acomplished. In a few days time, Transcorp will be declared prefered bidder to acquire Nitel, then PH Refinery will follow. These are institutions with huge economic potentials, if managed properly.

By December next year, Transcorp Shares will be Trading @ N20 - at least. Watch this space.

Daddy O

I am a bit leery about this Transcorp thing. Even though on the surface of it, it seems to be a private enterprise, however it is obviously a govt sponsored program. As Obasanjo is definitely leaving next year, I simply don't have enough hope for it. Obasanjo has carelessly not prepared a hand picked successor for himself, thus has inadvertently exposed the Transcorp venture. I definitely see a looming disaster. So buyer beware

Let's not attach too much sentiment to this, and see it simply as an investment proposition. It'll be listed on Stock Exchange shortly, with millions of Nigerians as direct / indirect stakeholders, thereby reducing the political risk that it may otherwise be exposed to . Besides, like a commentator rightly observed on this forum, the key stakeholders are powerfull individuals and will have extensive influence in whichever goverment is in power.

It may require courage and faith to invest in a venture like this, given the lack of a descernable track-record by which it can be assessed, but therein lies the value. Invest now, and perhaps make a 100% ROI in 1 year, or err on the side of caution and get 10% when it's "fully established"


DaddyO

Transcorp is simply like a a company set-up to acquire other companies or assets as they have done with the Nicon Noga hilton Hotel in Abuja. They were/are also bidding for the PH refinery and NITEL.
At some stage I believe they will also look at setting up new businesses from scratch eg airlines, manufacturing etc
[color=#006600][/color] Probably will be done through raising equity or borrowing from the banks to do so.
Long term whether it will successfully be executed remains to be seen. CEO Fola Adeola (ex GTB CEO and founder) leaving so early does not look good though Longe his replacement is solid.

well, i ll rather wait till obj's exit and i ll wait to see where they ll go from there b4 i put my kobo in it. this is nigeria, the place where anything can happen!

Every thing just bothers me, Guardian this morning posted that Fomosa and Eleganza are closing shop? Reason (harsh biz environment) Will trascorp make attempts to buy these companies? and turn them around for a modest profit? But now we hear Fola is leaving (rumors politcal). Longe replacing humn!!! . Are Nigerians really ready to take the big leap? Personally i,m ready to chip my bit into this venture but with this shaky start in leadership one begins to wonder if Transcorp wunt go under after BABA leaves.
P.s has any one seen a 5-10 year plan from them?

hi guys am new on nairaland, i would like to know what transcorp is all about

hey chaps man, u wanna know what transcorp is about? go thru da thread from page 1