Northeastern:


Zero market exposure, Mpeace told me to be vigilant then, and I no dull. Next entry period is October November for FY result expectation rally.

I think you mean Mendes. I have not been out of the market since 2014 and do not remember asking anyone to leave the market.
I was into oando in recent past, but left to join access(which is beginning to scare me) after I saw access q1 result and Wale's announcement of rights issue before august.

Awosika is Chairman First Bank of Nigeria Limited. Otudeko is Chairman First Bank Holdings Plc

Mpeace:
Former chairman. Fbnh current chairman is Mrs. Awosika. They have had a totally new management team for a long time now.

Northeastern:


No mind them, they entered before thinking of what they are buying. Among the reasons folks are buying are FOMO and halo effect, even at that, sentiments and wishful thinking don't push prices up, real money does. Most of the FPIs in our market come through or have some connection with the SA market, yet folks believe those FPIs will leave MTN SA and come and buy MTNN. Some even said PFAs will buy, really, PFAs buy MTNN?

The stellar 2018 profit of 145.69 billion yielded and EPS of 357.87 using the issued shares of 407,090,263 units. With the present outstanding shares of 20,354,513,050 units, the 145.69 billion profit will only yield an EPS of 7.16. Meanwhile, Dangcem that is trading around 200 has a FYE 2018 EPS of 22.83, its EPS is 3.2 times that of MTN meaning it should be trading around 435. Using the same logic, Zenith's EPS of 6.15 is 86% that of MTNN so it should be trading at 0.86*136.50 = 117.25.

Bottom line is, just as 435 and 117 looks unreal for Dangcem and Zenith, so is the current price of MTNN. While many other factors determine where stock prices trade, a methodical investor will not touch MTNN at this price.

Gbamsolutely!
I thought I was alone on this.
The chicken will soon come home to roost for anyone buying MTNN longterm at current price.

Mpeace:
Former chairman. Fbnh current chairman is Mrs. Awosika. They have had a totally new management team for a long time now.

Awosika - Chairman board of directors first bank
Otodeko - Chairman First bank Group holdings

FBHN is the NNPC of the banking industry... If you know you know!

RabbiDoracle:


There is a N79b which is the remaining part of the COP assets acquisition owed banks. Others may be foreign loans by foreign banks.

I do not think the announcement will have effect on any Nigerian bank.

It is just Oando shareholders that will bear the brunt when they come out to ask for more money via rights.

Exactly my thoughts too.
The banks have managed to live with these debts as long as they have existed and remained in business ever since.
Its not like they are new debts incurred based on the outbreak of this news.

In all of this, people are going to make money and become billionaires from this OANDO transaction. I mentioned it when I got the news Gwarzo was returning, repeated it again when the court reinstated him, and hinted about this zanku dance Wale and Boyo is about to dance.

Oando is a peculiar company and the number of powerful interests in it are too many.

There's the: 1. Tinubu interest
2: Atiku/Gabriel Voipi interest
3: Mangal interest (The Northern Cabal)
4: Banks/Financial institutions
5: MSCI and other global funds investors interest
6: The various Shareholders Unions interest,
7: Finally, the FGN interest amongst others.

These interests are well represented on the board and receive contracts and compensation except for the foreign entities.

If a commoner like me can know in advance that Gwarzo is returning and that his mission is to revenge on OANDO, then i dont think the various interests are not fully aware.

It is very possible that they planned everything in advance and only waited till after the elections to strike, knowing well that Bola Tinubu will not be able to influence Buhari in this next level.

Right now, I see a Mangal /Voipi collabo and am thinking that the company is still loaded, given the fights and struggle from Wale.

While i am not a shareholder yet, i think getting OANDO at the current price will be a good decision for jijoist.

QED

phemmie06:
My oga spitting fire. Olúwa mi ẹ̀rọ̀

Lol. By their level of Oando past woundjurement you shall know them.

Cadillac15:
In all of this, people are going to make money and become billionaires from this OANDO transaction. I mentioned it when I got the news Gwarzo was returning, repeated it again when the court reinstated him, and hinted about this zanku dance Wale and Boyo is about to dance.

Oando is a peculiar company and the number of powerful interests in it are too many.

There's the: 1. Tinubu interest
2: Atiku/Gabriel Voipi interest
3: Mangal interest (The Northern Cabal)
4: Banks/Financial institutions
5: MSCI and other global funds investors interest
6: The various Shareholders Unions interest,
7: Finally, the FGN interest amongst others.

These interests are well represented on the board and receive contracts and compensation except for the foreign entities.

If a commoner like me can know in advance that Gwarzo is returning and that his mission is to revenge on OANDO, then i dont think the various interests are not fully aware.

It is very possible that they planned everything in advance and only waited till after the elections to strike, knowing well that Bola Tinubu will not be able to influence Buhari in this next level.

Right now, I see a Mangal /Voipi collabo and am thinking that the company is still loaded, given the fights and struggle from Wale.

While i am not a shareholder yet, i think getting OANDO at the current price will be a good decision for jijoist.

QED

All this cabals and interests inside one company... The risk is way above!

N0.50k - N0.80k is my bustop for JIJO...at that price I can sleep. I can't afford the luxury of buying Oando above N1.00

phemmie06:
Wale know his shareholders and they also know him. A person like me in Oando is not even a shellholder but a nameholder. Na the name written on paper was given.

You self.
There are other categories - Certholders, people like Agba wey use certificate decorate wardrobe.

Mcy56:

You self.
There are other categories - Certholders, people like Agba wey use certificate decorate wardrobe.

Una go kee person
Certholders
Shellholders

That year I was among those with past woundjourment...I can't leave that guy until I see him in jail.

RabbiDoracle:
By the way, were not the person that alerted the members here that OANDO seem to have finished paying their debts to Nigerian banks and if it was cleared to buy the stock?
Deepsuk, oya see one of them here.

Wind never blow deepsuk come here, she still busy with clients.
But Deeps I envy you o, you're so popular even with the board of directors here. You need to give big boss a special treat.

stcool:
Una go kee person
Certholders Shellholders
That year I was among those with past woundjourment...I can't leave that guy until I see him in jail.

Chai! People don suffer for Oando hand o.
I had my own share of the woundjurement in 2014 too, i wasn't following events in the market, I saw it at 22naira or thereabouts, I was like, is this not the Oando that was selling very high at over 100naira before, without checking or asking I just told the broker to buy it, after-all I just wanted to buy it for keep. Las las I sold it at 9naira or something.

[quote author=stcool post=78921098]

All this cabals and interests inside one company... The risk is way above!

N0.50k - N0.80k is my bustop for JIJO...at that price I can sleep. I can't afford the luxury of buying Oando above N1.00


Bra, I agree with your proposition.
Many are yet to come to the reality of Wale Tinubu wickedness and greed.
This is a man that scammed the South Africans.
He made RMB and Redefine properties to finance the new HQ of oando by way of Equities in the company.
The extent of such shares dilution cannot be quantified yet.
I see a strong war against this intelligent scammer.
Wars from home and abroad.
People should also remember that Wale Tinubu listed Oando on Johannesburg Stocks Exchange.
The rot in Oando is one of the worst scam in the history of NSE.
The properties and assets on ground might not be enough to pay off the Accumulated Liabilities incurred by Wale Tinubu et al.
The best thing is for portfolio investors to take Oando to court and placed the company under an administration and receivership.
The administrator should apply to SEC for delistment or suspension
If well managed, investors might see value in 7 to 10 years time.
The problem on ground outweighs the benefits of further investing in Oando.
Many people were not aware that the last dividends paid by Oando was from Negative balance.
All his hope of future performance was based on ConocoPhillips assets acquisition. This investment was the major undoing of Wale Tinubu et al.
The aggressive expansion in unfamiliar territory also contributed to oando downfall.
The reckless lifestyle of Wale Tinubu cannot be understated.
Bankrolling political parties was also mentioned by other sources.
Let's see what Nigeria court will adjudicate on the case. I will not be surprised if Wale opt to buy the judgement. However, he might loose in other international industrial courts.

[quote author=Godlylifeoneart post=78921718][/quote]

Wale & Boyo the law they studied is for Corporate Yahoo!

Everytime you open Oando FY balance sheet I just laugh

All this names and shell companies from an ordinary coy that was minding it's business in selling just petroleum products!

stcool:


That WINGS building will be sealed off on Monday... Wale cannot enter that building.

To even think that Oando does not have it's own corporate head office. Wale keeps moving that office, ended it in WINGS that the Tinubu's own by proxy and paying huge rents.

This man weak me!

Had the liver to sell 2 Ajose Adeogun building to one of his shell companies as well.

KMT

stcool:


So you think TOE will hand over Power to minority shareholders.... Watch him spill it off when the time is right!

SMN raised serious governance issues about TOE. I still remember

Has Ote$ not gone away with Forte Power investments now that Dangote is building refinary and subsidy will no longer be business as usual in 2020.

Power is the next cashcow after subsidy, so Oga is gone with that one. Nigeria may never be able to fix it's power if we continue like this.

Corporate Yahoo Yahoo... They are not business men, they live on bank loans and govt. subsidy!

Said the same before upthread.........Cowboys wee not allow us and Nigeria be great
https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/4540#78063245

Princkez:
Next should be chairman of FBNH,Oba Otudeko

Honeywell and FBNH only am.....greedy men

DaV8King:


Had the liver to sell 2 Ajose Adeogun building to one of his shell companies as well.

KMT

What Wale is fighting is bigger now and it will consume him! He knows it.
Wait until new management is in place and books are made public... Wale will end in Jail! And will never sit in any companys board in this country.

stcool:


Una go kee person
Certholders
Shellholders

That year I was among those with past woundjourment...I can't leave that guy until I see him in jail.

Aswear Wale needs Ikoyi Prison regular wing, no VIP allowed

[quote author=Godlylifeoneart post=78921718][/quote]

You forget the Canadian listing.

These guys deserve to have a movie made about them.

DaV8King:


You forget the Canadian listing.

These guys deserve to have a movie made about them.

OER that they sold the shares and resold and made their boy the CEO of Chop life gang! Canadian branch...

As it stands we don't know what Oando Nigeria truly owns!

stcool:


What Wale is fighting is bigger now and it will consume him! He knows it.
Wait until new management is in place and books are made public... Wale will end in Jail! And will never sit in any companys board in this country.

If African punishment does not first catch him the way it caught Rufus Giwa back then!

Naija has produced some legendary corporate thieves sha.

Rufus Giwa
Bunmi Oni
Cecilia Ibru
Erastus Akingbola
Paul Jegede
Collins Igbinovia
Peter Ololo
Albert Okumagba
Wale Tinubu(shaming my university )
Omamofe Boyo

Among others whose scams have not yet blown open.

It will be well

stcool:


OER that they sold the shares and resold and made their boy the CEO of Chop life gang! Canadian branch...

As it stands we don't know what Oando Nigeria truly owns!

NOTHING mana!!

All productive subsidiaries sold.

Loads of debt left behind, a few filling stations and long term leases, maybe some vehicles and an aircraft.

If Wale didn't do sale and leaseback on all fixed assets and just put their values on balance sheet anyway.

Sincerely, they need to educate our national regulators on how they did the kinda byzantine structuring they did.

From the comfort of a 6x4 jail cell

stcool:


What Wale is fighting is bigger now and it will consume him! He knows it.
Wait until new management is in place and books are made public... Wale will end in Jail! And will never sit in any companys board in this country.

Make WINGS no "accidentally" catch fire before July 1 o!

NSEMPAs with interest with Lagos address go possess una possession o!

Bosses, as I have been following the thread, I have been seeing this word, "jijo" repeatedly. Please what is the meaning of the term?

From one of their numerous press release Of the Chop Money GanG ...When they are buying and selling to themselves, within themselves, for themselves After collecting rights issue money from Ordinary Oando shellholders

CALGARY, ALBERTA, April 29, 2016 – Oando Energy Resources Inc. (“OER” or the “Company”) (TSX: OER) announces that the outside date under OER’s previously announced proposed plan of arrangement (the “Arrangement”) with Oando PLC and Oando E&P Holdings Limited (the “Purchaser”) has been extended to May 31, 2016 in order for the parties to obtain the remaining outstanding lender consents.

Other material conditions precedent to completion of the Arrangement have been satisfied, including the approval of OER’s shareholders and the final order of the Supreme Court of British Columbia.

Full details regarding the terms of the Arrangement are set out in OER’s management information circular dated January 19, 2016.

Jejebabaa:

Myself inclusive having bought it at 97.50 in 2004 Public offer.

Not a good experience sir ..I belong to the 33 region then more on 18 when it crashed averaging down ..All massively sold at loss

Most Oando shareholders suffered

Battle continues ,i think its going to be tough ...wale and gang no go wan accept defeat

Will keep watching

Godlylifeoneart:
https://www.bloomberg.com/news/articles/2019-04-02/oando-s-ability-to-continue-operations-questioned-by-auditors

I still maintain that WINGS Oando's office should be sealed off until after the EGM. Everything should be put on hold until a new management takes over.

Wale should not be allowed anywhere near that office... All banking transactions on behalf of Oando suspended until further notice.

DaV8King:


If African punishment does not first catch him the way it caught Rufus Giwa back then!

Naija has produced some legendary corporate thieves sha.

Rufus Giwa
Bunmi Oni
Cecilia Ibru
Erastus Akingbola
Paul Jegede
Collins Igbinovia
Peter Ololo
Albert Okumagba
Wale Tinubu(shaming my university )
Omamofe Boyo

Among others whose scams have not yet blown open.

It will be well

Worth mentioning on the list


Bisi Onasanya et al
Tunde Ayeni et al
Dozie et al
Wale Tinubu and his chief partner in crime.. Mr. Boyo
Waohhh
Minority investors don suffer in My beoved Country.
Obodo Naija
The list is endless.
Who knows if their family and friends will by chance read through dz platform.
No wonder the US Nigeria listed ETF told investors, the best way to loose money is to invest it in Nigeria.
Who has not lost money in his or her portfolio in the last 12 months?

DaV8King:


If African punishment does not first catch him the way it caught Rufus Giwa back then!

Naija has produced some legendary corporate thieves sha.

Rufus Giwa
Bunmi Oni
Cecilia Ibru
Erastus Akingbola
Paul Jegede
Collins Igbinovia
Peter Ololo
Albert Okumagba
Wale Tinubu(shaming my university )
Omamofe Boyo

Among others whose scams have not yet blown open.

It will be well

Let me laugh small... That year BGL was my broker.
Okumagba that used money raised from mutual fund to buy private jet as a newest entry to Chop Money GanG .

These men have no regard for posterity... You build a great company and use your own hands to bring it down.

BGL was one of the biggest stockbrokers and owned close to 6% of UBA total shares outstanding.

stcool:


I say in developed economies... Wale story is a full Series / movie. That guy should be in lifetime jail.

And everything he took from Oando recovered, but alas we are in Nigeria.

What Bumi and Co. did in Cadbury is not up-to 10% of what Wale has done.

Reminds me of American Greed on CNBC ..Like you said in developed countries he won't escape this