Mpeace:
With Fidelity banks plan to do a private placement of addittional 20billion units, pls what will be the OS at the end of the day. One site claims 73billion shares another says 63billion.
Those in fidelity, pls what is the correct figure?

The dilution is becoming too much. Eps go just dey like 80kobo. How much dem want come pay as dividend.

HesInMe:
I've said it before: I'm shocked at how investors are still buying bank shares in this recapitalization period. Except for maybe Access, which has a clear need for cash as it gobbles up assets at home and abroad, what magic are the banks going to do with all that new money and all those dividend-hungry shares in the short term?

Naija maths dey different sha.

essentialone1:


81-YEAR-OLD EX-FIRST BANK CHAIRMAN, OBA OTUDEKO, FLEES NIGERIA VIA LAND BORDER, BEFORE COURT ARRAIGNMENT ON FRAUD CHARGES
Oba Otudeko, former Chairman of First Bank, has fled Nigeria ahead of his scheduled arraignment on fraud charges this Monday.
The sudden departure comes amidst a slew of financial disputes and allegations surrounding Otudeko, 81.
Otudeko's exit from the country is linked to the mounting legal pressures and financial disputes he is facing. The businessman left the country via one of the land borders. He was dropped off at the Nigeria-Benin border on Thursday evening by a family member.
When we reached out to Otudeko, his phone number was switched off. Messages sent to his WhatsApp, however, were delivered – but there was no response.
Obafemi Otudeko, his son, did not respond to calls and messages when contacted for comments on his father’s whereabouts and destination.
A Federal High Court in Lagos had fixed Monday, January 20, 2025, for the Economic and Financial Crimes Commission (EFCC) to arraign the Oba Otudeko and a former First Bank Managing Director, Stephen Olabisi Onasanya, for allegedly looting N12.3 billion from First Bank.
Otudeko and Onasanya are to be arraigned alongside a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Limited, connected to Otudeko.
According to the EFCC, the 4 of them committed the fraud in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion and N500 million, between 2013 and 2014 in Lagos,
The 13-count charge, filed by EFCC counsel, Bilikisu Buhari, on January 16, 2025, further claimed that the defendants forged documents to deceive the bank.
The EFCC said Otudeko, Onasanya, Akintayo and Anchorage would be brought before Justice Chukwujekwu Aneke, to whom the case, registered as FHC/L/20C/2025, had been assigned.
Specifically, count 1 accused the defendants of conspiring "to obtain the sum of N12.3 billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false."
In count 2, it was alleged that the defendants, on or about November 26, 2013 in Lagos, "obtained the sum of N5.2 billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V TECH DYNAMIC LINKS LIMITED which representation you know to be false."
Efforts to contact Dele Oyewale, the EFCC spokesman, were unsuccessful, as attempts to reach him regarding Oba Otudeko's whereabouts were met with silence.
Despite multiple calls to his official phone line on Friday, the line remained unreachable, with a "switch off" message.

Capitas7:


I agree with you. He has written a living book through this platform though. You have a nice investing story. I'm happy for you for being that fortunate. I've read two books recommended by Dr. Awo, and they are great too

KarlTom:
One thing is certain, FOte doesn't go into a business/venture without getting all available facts. And looking at the bigger picture based on available details, I believe that FOte is out for the jugular.

A lot of details will be revealed: right from the exit of Oba and then removal of Awosika plus the Onasanya regime, it is clear that a lot happened in [and to] FBN.

I only hope that this 'battle' will bring the wind that blows the dark cloud away from FBN... :(

saintjimos:
Which Nigerian stock is advisable to buy and hold

zendi:

......and that Team Femi themselves will run the bank with clean hands, going forward.

But why is it that all bank cowbois are billionaires, all of them, save none. Are they not on defined salaries and allowances?

zendi:

The elderly cowboy decided that going to check his BP abroad is far better than starting the year attending court dates with Justice Chukwujekwu Aneke.

Aneke, remember, is the no-nonsense Judge that helped minorities kill the Oando delisting.
So the Senior cowboy knew why he voted with his feet, 81 years or not.

Frog likes water, but not when the water is getting hot. He who fights and runs away lives to fight another day.

So he put his 81 years aside and executed the cross-border stunt.

saintjimos:
Which Nigerian stock is advisable to buy and hold

Meerahbel:
Which of them have you done and indepth analysis about?

Meerahbel:
Which of them have you done and indepth analysis about?

zendi:
Too many to mention.

Try Oando, Aradel, Transcorp etc

Don't go to banks for now. You will be wiped out at shares reconstruction.

Consult your investment adviser.


...

saintjimos:


Thank you, currently 80% of my shares are banks
So your advice is that I should sell them off?

HesInMe:
I've said it before: I'm shocked at how investors are still buying bank shares in this recapitalization period. Except for maybe Access, which has a clear need for cash as it gobbles up assets at home and abroad, what magic are the banks going to do with all that new money and all those dividend-hungry shares in the short term?

Naija maths dey different sha.

Harvestock01:


The safest way to "rob" a bank is to "own" it.

Sunrisepebble:
Some Oando News
“Oando wins Angola bid round for Kwanza Basin Block”

https://africaoilgasreport.com/2025/01/farm-in-farm-out/oando-wins-the-angolan-bid-round-for-kwanza-basin-block-kon-13/

Raider76:
You said you are buying to HOLD. I assume you bought those 80% of bank shares to hold long term. You must have some objectives for doing that. The banks' recapitalization will not change the long term situation of the banks. So why sell?

Sunrisepebble:
Some Oando News
“Oando wins Angola bid round for Kwanza Basin Block”

https://africaoilgasreport.com/2025/01/farm-in-farm-out/oando-wins-the-angolan-bid-round-for-kwanza-basin-block-kon-13/

Raider76:
This maybe the reason behind Oando's price jump on Friday.

saintjimos:


Thank you, currently 80% of my shares are banks
So your advice is that I should sell them off?

zendi:

So you're an old hand then, and not the "newbie" I mistook you for.
Accordingly, you should be an experienced manager of your portfolio.
Besides, I'm not the investment advisor I told you to consult. Also there are many good analysts here you can wait for, to weigh in.

But by my strictly personal opinion, remember my exact words when I thought you were new. I said: don't go to the banks for now.
Of course banks will get bigger and stronger.

But for me, I will wait to know the final total OS of each bank in order to work out their ranking, according to earning.
I am a PAT and EPS trader, especially with the banks.

Some Oando News
“Oando wins Angola bid round for Kwanza Basin Block”

https://africaoilgasreport.com/2025/01/farm-in-farm-out/oando-wins-the-angolan-bid-round-for-kwanza-basin-block-kon-13/

Sunrisepebble:
Some Oando News
“Oando wins Angola bid round for Kwanza Basin Block”

https://africaoilgasreport.com/2025/01/farm-in-farm-out/oando-wins-the-angolan-bid-round-for-kwanza-basin-block-kon-13/

saintjimos:


Alright, thank you

I will work with your advice on my next purchase

mikeapollo:


Thanks for this news.

Hopefully and thankfully , the clueless Tinubu is not the president of Angola, otherwise we for no hear word because of noise of favouritism!

ProphetUtuocha must be respected when it comes to tips about Oando!

Raider76:
You never know. Having that name will help anywhere at this time.

zendi:

St Jimos, my shared opinion is no investment advise.
Consult your investment advisor, mentor or counsellor.