is first bank Nigeria on nairaland cause I have a very serious complain?

berbs:
I thought dem be dey deny before.

yes,their denial is justified cuz,otedola is not the highest shareholder in fbn but one of the highest/influential shareholders.for one to be the highest shareholder, one has to possess at least more than 50% of the total shares of the bank.

Kemight15:
Yeye people

The head of their PR and head of media need to be fired

Less than 24 hours ago they claimed they didn't know dj cuppy's father and even referred to him as 'one man' now they are saying he's their oga patapata at the top

What does it cost them to first do their finding about who their latest sheriff in town is before running their mouth in the media like malami, apc and pdp?

pls can you show me where the article said that otedola is now the Oga patapata?

5 per cent and some people are calling him most influential ... Education.

zoomman:

Thank you my brother, I thought I was the only one thinking that way, had to go to my FA text book to confirm.

Lol, it doesn’t always work like that! Having 51% of most HUGE companies like this is RARE.

What matter is the highest shareholder and it seems in this case, Otedola is the highest shareholder with 5% of the company’s valuation

Bewiseedet:
Does it mean the information is legit?

It's legit but 5% is insignificant. He does not hold controlling interest in FBH.

Hahaha.
I think he meant takeover in the ordinary sense of having the highest voting shares of the bank and not the takeover in a technical sense of external restructuring (involving Acquisition or Merger or Takeover)

humilitypays:
The writer must be an Oduanistan, Otedola now owns First Bank with just 5% share, Nigerian journalists seems to be as useless as Nigerian Army

pickatyoubackup:
This is the country I know of where people who are meant to be the first to know become the last to know or do not know at all.

Hilarious

DubaiLandLord1:
Following an Earlier Denial, First Bank Holding Confirms Femi Otedola as a 'Significant' Shareholder


https://www.legit.ng/business-economy/1440127-femi-otedola-confirmed-major-shareholder-fbn-holdings/

Yes finally Femi Otedollar is now a major share holder in first bank plc and not a chair owner as one Nairalander said here yesterday

first bank just fumbling why come out to deny it earlier

goaldynboy:


If with N35b he can acquire 5% of the Bank's equity;
Since 5% X 20 squalls to 100%

It necessarily follows that the bank is worth:

N35b X 20, which is equal to:

N700b

35 billion unit of shares, not market value of 35 billion naira. He bought 1.8 billion units out of the total issued shares. You must know the current share price to know the market value of the company.

"Rich people are buying assets while poor people are buying liabilities which they think are assets.

orisa37:
FBN HOLDING PLC IS A CHARADE, A SHARIA, A SPLINTER AND AN OIC ARRANGEMENT.

FIRST BANK PLC IS OWNED PRIMARILY BY THE BOARD OF THE ORDINARY SHAREHOLDERS. CAMA RULES SUPREME.

What the heck are you saying? You’re as incoherent as [don’t let me say something bad]

I think one Hakeem Bello did something like this in 1996 with UBA. Nothing came out of it last last. You can't become a billionaire by buying shares in a company no matter the price the shares was sold to you. The seller of the shares rather becomes the billionaire,, unless your are already rich through some other method. Industry is the only sure way if your lucky.

I see First Bank treading the path of defunct Africa Petroleum.

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If you do that, everybody's current shares will also be diluted.
The easiest way is for a shareholder to acquire even 1% higher than his 5% or 2 or more shareholders consolidate their shares to become higher in accordance with the SEC rules. Infact, 5% is not a joke for a company that has gone public.

Validated:

Is 5% the big deal? FBN can easily dilute the holdings by creating additional shares and repuchase a large chunk thereby reducing his stake to less than 5%

skj1377:
I think one Hakeem Bello did something like this in 1996 with UBA. Nothing came out of it last last. You can't become a billionaire by buying shares in a company no matter the price the shares was sold to you. The seller of the shares rather becomes the billionaire,, unless your are already rich through some other method. Industry is the only sure way if your lucky.

If you are making reference to Bello-Osagie's case as per UBA, something came out of it las las. HE WAS chairman of the bank till he was schemed out later by STB. It is totally wrong to say nothing came out of it.

TempUser:
#First we define the variables
book_price = float(input("Enter Book Price: ")
discount_rate = float(input("Enter Discount in %: ")
shipping_rate = float(input("Enter Shipping Cost per book: ")
books_ordered = float(input("Enter the number of books ordered: ")

#Then let's make some calculations of discount price,shipping and the total cost
discount_price = (book_price * discount_rate / 100)
shipping_cost = (shipping_rate * books_ordered)
total_cost = ((book_price - discount_price) * books_ordered) + (shipping_cost * books_ordered)

#Now we print our statements as required:
print("Cost of Book : ", book_price)
print("Less discount price: ", discount_price)
print("Shipping cost : ", shipping_cost)
print("Number of Books ordered : ", books_ordered)
print("Total Wholesale Cost : ", total_cost)

Impressive. I’m a beginner in Python too. Let’s connect �

toblosky:
Taught you have to have atleast 51% for a full takeover

it depends on numbers values of the top share holders in the said company.

mrkels:
Why is the end of the article talking about take over ? With 5% stake ? Is the writer high or just incredibly stupid ?

/
Yesterday the report claimed that it was more than 50%.

Today FBN has clarified that it it 5.07%

The disparity in reportage is ridiculous.

/

First Bank truly the first and Otedola now truly has significant influence in strategic and operational decisions of the bank.

afamaustin:
And l only HV #25,806,00.God give me the wisdom to be billionaire.

Check am well, na shayo dey chop all your money, just like me

Even after they denied him initially!!!!

skj1377:
I think one Hakeem Bello did something like this in 1996 with UBA. Nothing came out of it last last. You can't become a billionaire by buying shares in a company no matter the price the shares was sold to you. The seller of the shares rather becomes the billionaire,, unless your are already rich through some other method. Industry is the only sure way if your lucky.

This take is so wrong. People can acquire majority stakes and go on to unlock or hidden business value in many ways.

Deserea:
I see First Bank treading the path of defunct Africa Petroleum.

My fear as well

kettykin:
I sincerely hope they will not kill this bank as the control for the Bank goes from market place to the board room

How pls? Those shares were previously owned by Otudeko. So just a transfer of ownership. And how is 5% controlling? Naija press sef!

Who God has bless no man can curse

TempUser:
#First we define the variables
book_price = float(input("Enter Book Price: ")
discount_rate = float(input("Enter Discount in %: ")
shipping_rate = float(input("Enter Shipping Cost per book: ")
books_ordered = float(input("Enter the number of books ordered: ")

#Then let's make some calculations of discount price,shipping and the total cost
discount_price = (book_price * discount_rate / 100)
shipping_cost = (shipping_rate * books_ordered)
total_cost = ((book_price - discount_price) * books_ordered) + (shipping_cost * books_ordered)

#Now we print our statements as required:
print("Cost of Book : ", book_price)
print("Less discount price: ", discount_price)
print("Shipping cost : ", shipping_cost)
print("Number of Books ordered : ", books_ordered)
print("Total Wholesale Cost : ", total_cost)

Nice work.

A few observations though. You didn't declare the variables first. Next time declare the variables first before assigning the values, it'll make your work easier.

int main ()
{
float book_price, shipping_cost, etc
int books_ordered
}

Also try not to use 'underscore' when defining variables, instead use BookPrice in place of book_price, it's easier to write, read and debug.

And lastly, books_ordered is an integer, I know it doesn't matter a lot but it does. Good work nonetheless, happy coding!

Baba God. This is the quadrant I want to be. An investor. Nothing, i repeat..Nothing beats passive income.

This work till I retire @ 65 life style don taya me.

.Federal government is now infecting all organization in the country with denial-then-accept syndrome.This time around first Bank of all people.
But come o,how can someone with 5% take over a company.
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mrkels:
Why is the end of the article talking about take over ? With 5% stake ? Is the writer high or just incredibly stupid ?

He's currently the single highest shareholder of d Bank shares.

Ideally he's supposed to become the chairman of the the bank