Enyinne:
Your a fool by meddling into my affairs? U come online to bully people as if anyone PM u for assistance. Thats the height of stupidity and foolishness ur displaying here and I wonder how u can be taken serious by the arrant senseless talks that u spew here daily.Get the Bleep off my moniker, u jobless mad man.

TransAtlanticEx:
lol @ jobless.
Yes i am jobless,don't worry about me cos I'm alright.
Worry more about your life savings that might get swept away by MBA forex,weyrey.

purleesh:


See, oga I don't know what you guys have going but please just let her be nowww so this thread won't devolve abeg

chukzyfcbb:

Thanks
I am a bit uncomfortable seeing Citibank as the custodian tho, that's all

chukzyfcbb:

Out of curiosity I would like to ask because I am just noticing this.

why is Citibank the custodian for FBN asset management? why didn't they use FBN Bank instead?

have you got any clue why?

emmanuelewumi:



Which of the Investment houses did you buy Dangote cement commercial paper?

So Dangote is getting loan from you at 5%, which he will use to make about 20%

Grupo:


I have been seeing a lot of red flags on their site. Maybe I'm just being paranoid.

Wiseoldman:

Citigroup Inc. (C) - Revenue (TTM): $74.3B - Net Income (TTM): $19.4B - Market Cap: $91.9B - Exchange: New York Stock Exchange

chukzyfcbb:

Wow impressive numbers.

Lazyyouth4u:
Sir, my emphasis has been on the key word ‘guarantee’ of investments but your points are spot on.

Akin3891:


Yes it's, highly risky. I traded some years ago so I'm talking base on experience, sometimes I could make 1m a day but next day I could lose 1.5m.

This is a trying times for investors and also a time to be extra careful. Ponzi, speculations are not for smart investors. Slow n steady win d race, I was able to buy DANGOTE paper last week for a meagre of 5%, wish u all best of luck.

Ibechris2:



[s]I have read all ur comments and arguments since day one till date...but I am disappointed with all that u have written,u argue blindly and can't categorical dish out one investment wisdom for one to learn but u consistently talk about impractical & non existing investment tips.

U don't write like one who've invested money at all. All u do is dissuade people from taking risk such as the one above about ordinary shares. Mr. Lazyyouth,when Finbank went out of the market,I didn't lose my money entirely,rather I was made to go to FCMB registrars, and I recovered my money and I wonder where u get ur information from. [/s]

Lastly,say what u know,refrain from arguing without facts.
Thank u.

Telsidelake:


I understand how it feels seeing people cash out of risky investment that investment gurus always warn people to avoid. You have risked the N5m, that's still ok. But leave the N30m in a safer place. I liked your stance on treasury bill despite the naysayers who were trying to get you to move. No fall my hand abeg. If you lose that N30m, e go pain me. Your case go come be like mary amaka wey misbehave one time come get HIV.

RayRay06677:


You are right, just couldn't miss you guys. Reason I left or changed handle, someone mentioned my surname so I felt he must have known me in real life and am busy mentioning millions, Me that is a regular Joe in town. Realized we exchanged mails and he got my name. Reason I wouldn't accept mails. Everything ends here, anything we can't discuss here can wait. Grateful and appreciate everybody here.

XiaoLi:
Welcome back bro, I have been wondering where you have been, still cannot forget that your advise which helped to neutralize my troublesome tenant. Cheers!

RayRay06677:


Welcome Sir, tenants and their trouble. One is owing me rent but he is busy buying lands around my neighborhood. I just ignore him, saying nothing so it doesn't seem am an enemy that doesn't want his progress, I will wait till next year.

Lazyyouth4u:

Sir, the company was acquired in 2013 and that is why you will find the non current liabilities (loans) growing from zero in that year to N40bn in 2017. Most of the debt are loans taken out to fund part of the acquisition cost of the company.
The current liabilities as I mentioned earlier is the money owed to NBET which is understandable. How can they pay NBET when they are not even making money from collections? The investors paid billions of Naira to the FGN for 60% of the company. We all agree they over paid. Why would Sahara Group and Korea Electric Company pay so much money to buy majority shares in a company only to turn around and ‘rape and kill the company’? Would you?

XiaoLi:
They can be very heartless sometimes, why not unleash the plan B on him.

RayRay06677:


Thanks boss, just checking around and Max I can get with that 30m on TBills is 1m, that's not growth. I successfully opened vgif account, maybe is time to dump it there. Guess it's safer, after opening the account I was asked to pay in money before I can get details and view, is that how everyone did theirs?

TransAtlanticEx:
lol @ jobless.
Yes i am jobless,don't worry about me cos I'm alright.
Worry more about your life savings that might get swept away by MBA forex,weyrey.

emmanuelewumi:



How is that possible the core Investor got a loan for the acquisition of 60% ownership of the company. There is a difference between the core Investor and the company.. The DISCO can only pay for the acquisition cost if the core Investor owned 100% of the DISCO

Not a good corporate governance practice for such loans to be paid by the DISCO. The core Investor will pay such loans from their own dividends from the company..

DISCOs used to charge N500 monthly flat rate for maintenance fees in the past. Which NERC stopped. With these maintenance fees whether they did not supply power the are sure of this steady income from their millions of customers .
For Ikeja DISCO while looking at the report, I found out that they were supplied N80 billion worth of energy, but they claimed to have made N67 billion in revenue.




To the last part of your question that is the essence of asset stripping.

Folio Communication bought Daily Times newspaper from FG. Later found out that they were not interested in running the business, but to sell the choice Properties of the company in Ikeja, Ikoyi, Lagos Island, Abuja etc, which they used in recouping their Investments

ojesymsym:
You will have a hard time convincing us otherwise.

This screenshoot between lzyyoot and MrTrans was responded to in the first person by Mrs Ezinne. Truth is, we all have a right to different monikers on nairaland, even the best of us will slip up at some point. But don't be ahib's friend when you wear ezine costume and his enemy when you wear lzyoot costume, we like to know our friends and our enemies, frienemies are too complex to deal with.

Enyinne:
Worry more about ur joblessness and stop poke noising about peoples affairs. U must be a very toxic and control freak human being hence u display it at every opportunity. I see u like attention, i hv given u enough of it so run along kid bro

Lazyyouth4u:
I have looked at the financials and it is actually only 6bn Naira that were bank loans taken from CBN to make payments to NBET. So in actual fact the acquisition costs were funded with Sahara’s cash and / or loans using its own balance sheet. Would Sahara pay so much money to acquire the 60 percent shares from NGN only to rape the company as you said? If you were Sahara what would be the business sense in that?
Speaking of asset stripping, majority of the company’s assets are distribution network plants and equipment. Only about 3bn Naira in land/buildings. Would Sahara pay so much money for the investments only to sell the distribution plants and equipment? To who? Or to sell only the 3bn buildings? In terms of corporate governance, we haven’t even talked about the FGN owning the other 40%. Will the BPE and Ministry of Finance sit there smiling while Sahara goes ahead to sell the obsolete distribution network assets?
You can’t compare a Mickey Mouse transaction of Folio and Daily Times to the Ikeja Distribution transaction. That is comparing apples to oranges. Folio bought 100 percent of DTN for peanuts. It would make business sense to just sell the landed properties if their value is greater than the acquisition cost of DTN. You and I will do the same sir.
For the umpteenth time, I maintain that DISCO investors overpaid for the shares acquired from BPE and can only recoup their investments when tariffs are increased and rate of collections from customers increased.

emmanuelewumi:



Thank God, you realize they overpaid for the 60% ownership of the DISCO for about $150 million. Whose fault is that ?
Who buys an investment, which you know you don't have the competence to carry out a proper valuation.

Whose fault that you got N80 billion worth of energy,. but claimed to earn just N68 billion. When a conservative estimate is about N100 billion revenue and above..

A lot is happening, that explains why CBN wants banks to takeover the revenue collections of the DISCOs.

As per the remaining 40% that is owned by BPE and Ministry of Finance, we know how politicians and civil servants collaborate with their cronies and foreigners to short change the FG and the citizens.

The current case of Shell in Italy and how high ranking leaders and officials defrauded the country is worthy to note about how low we have gone. So in Nigeria anything wrong or bad is very possible

TransAtlanticEx:
How do I worry about something that doesn't exist?
You are the one that says I am jobless na,does it mean its my reality ehn this woman?
At your age,you never still get sense.
But on the other hand,yours is very obvious that you used your life savings to put in a ponzi scheme,reason why you are having panic attacks when the reality behind it is exposed.
Of course I am a kid where you dey na,you think I'm as old as you are?God forbid!!Worse be say you get big age with little brain to back it up
And there's no way on earth I'd be seeking attention from an old,senseless woman like you who is dumb enough to think a ponzi scheme is a business na .
Why would I leave younger,succulent girls to seek attention from a depreciating,brainless woman like you?
That's dumb and I am far from it

emmanuelewumi:



Thank God, you realize they overpaid for the 60% ownership of the DISCO for about $150 million. Whose fault is that ?
Who buys an investment, which you know you don't have the competence to carry out a proper valuation.

Whose fault that you got N80 billion worth of energy,. but claimed to earn just N68 billion. When a conservative estimate is about N100 billion revenue and above..

A lot is happening, that explains why CBN wants banks to takeover the revenue collections of the DISCOs.

As per the remaining 40% that is owned by BPE and Ministry of Finance, we know how politicians and civil servants collaborate with their cronies and foreigners to short change the FG and the citizens.

The current case of Shell in Italy and how high ranking leaders and officials defrauded the country is worthy to note about how low we have gone. So in Nigeria anything wrong or bad is very possible

TransAtlanticEx:
It happens everywhere bros,don't make it a Nigeria thing.
No be trump ban Huawei the other day?

TransAtlanticEx:
lol @ jobless.
Yes i am jobless,don't worry about me cos I'm alright.
Worry more about your life savings that might get swept away by MBA forex,weyrey.

pluto09:



If you can do forex yourself or copy trading,that is not a bad idea.
However,if someone that you can't access his/her forex trading account is telling you to bring your money and is promising a fixed returns on investment, that person is probably not trading forex but collection money from Mr B to pay Mr A .

No matter how long it takes, it will definitely collapse.

Why are you not interested in stocks?
It will give a better returns than tbills and the likes if you are ready to do your homework.

Lazyyouth4u:
I will have a hard time convincing you? Who do you think you are? . On a faceless public forum? Oga, I don’t care about what you think o. Believe what you want sir. Call me BBN lazy yoot join sef. Na you sabi