Sunnybay7:
Is this to encourage first bank sacked directors to seek redress in court?

RuudVanNisteroy:

If they have the right backing and power behind them, then I see no reason why not. They can learn from Wale Tinubu.

DubaiLandLord1:
After going through the issue between Otudeko and the CBN, I will have to support the CBN. First bank is not otudeko personal property.

RuudVanNisteroy:

I support CBN as well. However, in the jungle anything goes.

The alleged allegations against Wale Tinubu are far worse that the infractions against Oba Otudeko and Awosika and the court still reinstated him.

DubaiLandLord1:
People like you are one of the problem of this country bro.

I read somewhere the EFCC wants to look into the loans he has been giving by FBN. I hope he will be fully dealt with. He should be used as an example so others in his positions will know is not business as usual.

We lost a lot of banks because of all this kin rubbish in the past. I'm going to give Emefiele a pass mark for not letting FBN collapse the way Sanusi made some banks collapse in the pass. Sanusi should have found a way to help them stay afloat, if it means printing more money.

But the most important thing in all this is that, people like otudeko must be dealt with.

RuudVanNisteroy:


I am a realist and know the how the rules work in the jungl. This is the same country $600 billion has been looted by former and current politicians and military general since 1960 with a 99% success rate.

Nothing will happed to Oba Otudeko, EFCC as an organization is equally as corrupt.

RuudVanNisteroy:
The power behind Wale Tinubu is far greater than the power behind First Bank Oba Otudeko and Awosika.

mrfreestuff:

You are getting it mixed up and obviously not familiar with the capital market and history of Oando right from Agip days.
SEC is far more brutal and Oando lost so so much. Unlike FBN that got forbearance for 6 years, Oando has been under the hammer of SEC now for about 3 years, no AGM, no share appreciation and Wale Tinubu and Omamofe Boyo sacked by SEC.
Now SEC has introduced a criminal investigation into the mix !
Your commentary gave you away as an outsider on the real issue. If Asiwaju Tinubu had backed Wale Tinubu, Oando should not be this heavily punished. CBN for 3 years asked FBN to comply but FBN ignored it and even the CBN governor pleaded with Chief Otudeko but he still went ahead to sack the MD and you say Oba Otudeko is not powerful

At 78 years , billionaire ,OON award holder, Former NSE President, one of the godfathers of the accounting profession, Chief Otudeko is a Man of Timber and Iroko. That you didn't know this alone still show that you know very little about the man sir.

DubaiLandLord1:
People like you are one of the problem of this country bro.

I read somewhere the EFCC wants to look into the loans he has been giving by FBN. I hope he will be fully dealt with. He should be used as an example so others in his positions will know is not business as usual.

We lost a lot of banks because of all this kin rubbish in the past. I'm going to give Emefiele a pass mark for not letting FBN collapse the way Sanusi made some banks collapse in the pass. Sanusi should have found a way to help them stay afloat, if it means printing more money.

But the most important thing in all this is that, people like otudeko must be dealt with.

thebosstrevor1:


Where did you get your information that 600 billion dollars have been looted

mrfreestuff:

You are getting it mixed up and obviously not familiar with the capital market and history of Oando right from Agip days.
The only reason Oando is stil alive now is because SEC is not DPR that regulates its sector unlike FBN dealing with the regulator of their core business.

So far, it has proven that SEC is far more brutal and Oando lost so so much. Unlike FBN that got forbearance for 6 years, Oando has been under the hammer of SEC now for about 3 years, no AGM, no share appreciation and Wale Tinubu and Omamofe Boyo sacked by SEC.
Now SEC has introduced a criminal investigation into the mix !
Your commentary gave you away as an outsider on the real issue. If Asiwaju Tinubu had backed Wale Tinubu, Oando should not be this heavily punished. CBN for 3 years asked FBN to comply but FBN ignored it and even the CBN governor pleaded with Chief Otudeko but he still went ahead to sack the MD and you say Oba Otudeko is not powerful

At 78 years , billionaire ,OON award holder, Former NSE President, one of the godfathers of the accounting profession, Chief Otudeko is a Man of Timber and Iroko. That you didn't know this alone still show that you know very little about the man sir.

Please stay on politics lane sir. This is corporate Nigeria politics, not your familiar APC-PDP politics sir that is all comers.
Like politics of professional groups, there is ranking. In corporate Nigeria, the likes of Chief Otudeko is a Field Marshall.

thebosstrevor1:


This is just a sensational headline.

Where are your documents backing the alleged thefts?

RuudVanNisteroy:

Chief Otudeko might be be a timber and Iroko in the corporate sector. When come to the political arena he is a novice compared to Wale Tinubu.

The alleged infraction by Wale Tinubu's SEC, in other climes would have earned him life imprisonment. However, in Nigeria that is just business as usual.

RuudVanNisteroy:

The source is world reknown The Economist and not your roadside hawker.

thebosstrevor1:


Is that a source, show me documents not people flashy properties.

How can you say 600 billion dollars was stolen and you got no proof except pictures.

mrfreestuff:


Please stay on the usual bread, butter and gbosgbas politics sir. That's for gbogbo ero and agbero alike.This one you are dabbling into is not your forte.

Wale Tinubu that can't even get his board to fall in line or get out of SEC punishment, you are comparing him to a Big Iroko like Chief Otudeko.

Even Chief Otudeko is a senior professional colleague to Asiwaju Tinubu in the accounting profession let alone his age and wealth. As we type here, Oando is so badly beaten that it is the cheapest oil stock on NSE and Wale Tinubu is sacked by SEC and no correspondence from him is accepted.

SEC is not the regulator of Oando's core business so SEC can't close suspend their licence. If Oando were to be a stockbroking firm or registrar, SEC would have suspended their license.

I will no longer reply you if you still go on with remarks that confirm that you know little about the capital market. I just wanted to help you fill the gap on what you clearly don't understand or not familiar with.

RuudVanNisteroy:

I gave you the source the credible Economist. I will send them a Freedom of Information request regarding their sources.

There is a reason Nigeria was ranked third worst most governed nation in the world without basic amenities as healthcare,good road network,portable water,sanitation system,good quality education system.

thebosstrevor1:


So a sensational headline from economist is a credible proof.

You don't have to send them any request, they have no proof likewise you have no proof.

Nigeria is ranked third worst most governed nation in the world because the people are ungovernable. They are more interested in sabotaging their country than to build it.

RuudVanNisteroy:

Yes, blame the people and not the fantastically corrupt leaders that got reported to her Majesty, Queen Elizabeth.



https://www.youtube.com/watch?v=Wg7lfHL_l1w

thebosstrevor1:


You keep shifting from goal post to goal post.

Is that a proof of the 600 billion stolen?

RuudVanNisteroy:

I showed you the source the Economist. The have access to data before they Editor published it.

thebosstrevor1:


Why don't you post the data they have.

RuudVanNisteroy:

I posted the source The Economist.

thebosstrevor1:



Where is the data, where is the data.

Why do you keep going from post to post.

Is the source a document or a sensational headline.

Can you tender an headline in the court of law without evidence

RuudVanNisteroy:

It was published by The Economist and Punch Newspaper. Former EFFC Chairman said the amount stolen since independence was $380 billion 15 years ago.

thebosstrevor1:


One newspaper wrote 600 billion another 380 billion.

Which one should we believe?

RuudVanNisteroy:

One was in 2006 and the other was in 2019.