ratcockoduduwa:
some of those key players find a way of contravening any law put in place.

Contravene which laws. When Cbn has officials breathing down their necks. Once a company issue an IPO to raise funds he opens Niagara of one thousand and one co-owners of the company. A corporate raider might buy in and leverage out the major shareholders. Bros no individual can own a bank.

oodualover:

Despite how densely populated your land is, majority of it is still poor and underdeveloped.

Really?
Coming from someone who has spent all his life in Ogbomosho.

BigIyanga:

E-warrior!! Reading is ur biggest challenge. Read banks’ annual reports to know owners of Nigeria.
Meanwhile Cosharis’ first son is married to a Yoruba woman from a very rich family.

So what is the relevance of that to the assertion of op? Anyway let help you bury your red herrings, maduka wants the blood of Yoruba to flow in the veins of his grand children. Smart Ibos will die to be part of the blood line.

GoldNiagara:


A public liability company must have a minimum of 50 people subscribing to the shares and having gone public access bank is owned by as many people as can be imagined. So the highest share holder might just have 5 percent of the share holding.

Unneeded explanation cos Forbes and other articles state 25% and nobody says that one person owns a bank.
But there are major shareholders with prefered stocks and voting rights. Some of them use shell and holding companies to maintain ownership. The fact that you have some shares of a company doesnt make u a major shareholder.

BigIyanga:


Unneeded explanation cos Forbes and other articles state 25% and nobody says that one person owns a bank.
But there are major shareholders with prefered stocks and voting rights. Some of them use shell and holding companies to maintain ownership. The fact that you share of a company doesnt make u a major shareholder.

Just listen to yourself. Read out what you just typed and if they don't sound contradictory to you then I will not oblige you any further.

GoldNiagara:



Just listen to yourself. Read out what you just typed and if they don't sound contradictory to you then I will not oblige you any further.

Kudos to you, totit, electricdanger, and other smart omoluabi who rubbished all the mumu claims of the eternal chest beating clowns. You made it look so easy

Imagine the clown that was showing picture to prove he was in 'rondon'

Meanwhile, did electricdanger unmask another wretched potor braggart?

AntiWailer:
He should go to Anambra instead of staying in Lagos.

For his company to pay 450 million naira tax in Lagos that means they made over 4.5 billion naira in Lagos.

For him to pay 50 million personal tax that means he made over 500 million personal income in Lagos.

I guess the footballers should lay claim that they developed England going by the tax they pay weekly and annually.

you guys should stop sounding like illiterates.

If you ask them for sound and logical engagement now, they will be screaming Afonja Afonja. Brain dead.

You deserve special recognition eniyan Pataki

GoldNiagara:



Just listen to yourself. Read out what you just typed and if they don't sound contradictory to you then I will not oblige you any further.

Dude, you just contradicted yourself by saying that one could be a major shareholder by having only 5% because it’s a Publicly traded company, but Forbes and other articles said 25% stake.

because it’s a publicly traded company does not mean that founders/directors thru their companies cannot be their largest shareholders. It’s common knowledge that Elumelu is the largest sharehold of UBA; Jim Ovia has the largest stake in Zenith Bank; Fola Adeola has the largest stake in GTB.. and this is not 5% shareholding stake and they have preffered stock options.
During IPOs, founders, directors and largest shareholders do not loser their majority status, instead their shares are diluted in return for a huge investment from the public and they in turn make more money when the company expands.
Even in a 50-man ownership structure, founders and directors allot shares to th rest of the crew and still maintain their majority owner “ status”

BigIyanga:

Dude, you just contradicted yourself by saying that one could be a major shareholder by having only 5% because it’s a Publicly traded company, but Forbes and other articles said 25% stake.

because it’s a publicly traded company does not mean that founders/directors thru their companies cannot be their largest shareholders. It’s common knowledge that Elumelu is the largest sharehold of UBA; Jim Ovia has the largest stake in Zenith Bank; Fola Adeola has the largest stake in GTB.. and this is not 5% shareholding stake and they have preffered stock options.
During IPOs, founders, directors and largest shareholders do not loser their majority status, instead their shares are diluted in return for a huge investment from the public and they in turn make more money when the company expands.
Even in a 50-man ownership structure, founders and directors allot shares to th rest of the crew and still maintain their majority owner “ status”

Now you have educated yourself that is commendable, As you stated founders can still the majority shareholders no doubt but that does not translate to ownership.

instead of indulging in this see saw banter, this can be confirmed at corporate affairs commission as well as Cbn and you will understand that an individual can not own more than 25 per cent equity in a bank and as the company goes public some of those equity will be shed and that is the essence of going public.

Don't also blur the line by thinking that depositors funds belong to the shareholders, they trade with depositors funds and earn profits from it.

bakynes:
I have never seen a Chest beating tribe like the Igbos in my life.

Elizade is bigger than Coscharis and would pay more taxes than Coscharis but you will never hear Yoruba's talk about it. What is wrong with this people sef are you the only ones that make money in this country.

Elizade bigger than coscharis? What is wrong with u folks

GoldNiagara:


Now you have educated yourself that is commendable, As you stated founders can still the majority shareholders no doubt but that does not translate to ownership.

instead of indulging in this see saw banter, this can be confirmed at corporate affairs commission as well as Cbn and you will understand that an individual can not own more than 25 per cent equity in a bank and as the company goes public some of those equity will be shed and that is the essence of going public.

Par 1 is laughable to say the least, cos I just educated you not me. I wonder where you got this "ownership thing"? I have said from the beginning- 3rd largest owner and 25% stake from the outset.. My math ain't bad to say that 25% =100%

Par 2:
Nothing stops those founders/directors from using very holding/shell companies to keep those shares in the family. Mind you that founders/directors have the first right of refusal clause in their partnership contracts. So if a founding member wants to relinquish his majority status, he will either get bought out by another founder/director or they will form a consortium to buy him out and the public doesn't get to know about it.

BigIyanga:

Par 1 is laughable to say the least, cos I just educated you not me. I wonder where you got this "ownership thing"? I have said from the beginning- 3rd largest owner and 25% stake from the outset.. My math ain't bad to say that 25% =100%

Par 2:
Nothing stops those founders/directors from using very holding/shell companies to keep those shares in the family. Mind you that founders/directors have the first right of refusal clause in their partnership contracts. So if a founding member wants to relinquish his majority status, he will either get bought out by another founder/director or they will form a consortium to buy him out and the public doesn't get to know about it.

What you are saying are elementary company law and corporate governance.It is presumptuous to say you educate me. What you said is garbled and hazy and my deep knowledge of corporate governance is why I could sense your hogwash. I am intelligent being, I know what you are driving at. trying disingenuously to make an hazy point, that your guys are the owners of some banks.

I am glad you have seen that is not possible, they are just shareholders.

There are laws that stops them namely CAMA, Cbn Act and BOFIA and in fact they criminalize it. Like I said consult the regulatory bodies and thank me later.

Develpeast:


Elizade bigger than coscharis? What is wrong with u folks

Yes Elizade is bigger than Coscahris, Elizade is the sole importer and distributor of Toyota in West Africa, Coscharis just buys cars and sell, it is quite different. Toyota is the largest Car Manufacturing company in the world and Elizade is the sole distributor in West Africa.

GoldNiagara:


What you are saying are elementary company law and corporate governance.It is presumptuous to say you educate me. What you said is garbled and hazy and my deep knowledge of corporate governance is why I could sense your hogwash. I am intelligent being, I know what you are driving at. trying disingenuously to make an hazy point, that your guys are the owners of some banks.

I am glad you have seen that is not possible, they are just shareholders.

There are laws that stops them namely CAMA, Cbn Act and BOFIA and in fact they criminalize it. Like I said consult the regulatory bodies and thank me later.

What a display of willful ignorance on HD. I said he was the 3rd largest shareholder after AIG and Wigwe , so how does that make him a sole owner? Do those names sound like Maduko to you?
I also cited a Forbes article stating that he owned 25% stake, how does that make him an outright owner? I have stated facts in my statements and you're just conjuring assumptions.
You're more fixated on ownership because someone's last name while I'm more concerned about stating the obvious-
So if CBN does not allow up 25% ownership stake, does it force founders and directors with 25% stake to divest?
Has CBN proscribed holding and shell companies owned by founders/directors from owning shares of banks?

BigIyanga:

What a display of willful ignorance on HD. I said he was the 3rd largest shareholder after AIG and Wigwe , so how does that make him a sole owner? Do those names sound like Maduko to you?
I also cited a Forbes article stating that he owned 25% stake, how does that make him an outright owner? I have stated facts in my statements and you're just conjuring assumptions.
You're more fixated on ownership because someone's last name while I'm more concerned about stating the obvious-
So if CBN does not allow up 25% ownership stake, does it force founders and directors with 25% stake to divest?
Has CBN proscribed holding and shell companies owned by founders/directors from owning shares of banks?

Dude isn't aware there's direct and indirect ownership of equity in companies.

Victornezzar:
Can't this thing just end please, Lagos is in the west, So yorubas are the real owners of the state

Btw why do most yorubas use lagos to boast, is it the only western state in Nigeria??

Oh!
So it was Afonja that posted this ethnic laced post ?!

ProWalker:


The real owners of Access Bank are actually represented by the ex-chairman Gbenga Oyebode who passed th chairmanship baton to another Yoruba woman Mosun Belo-Olusoga.
The Problem is the Yorubas just like the Hausas are heavy but silent achievers. If Yorubas should start chest beating the way you Igbos do, nairaland servers will go into permanent freeze.

Exactly