Look, I know you people are friends of Iseghohi, but look when a man loss half of a company investment in less than 6 month with is america degrees. You know he is on his way out of the company. Instead of you people running all around looking for publicity for him. Why not advice him right. They would kick him out. President Yar Adua is not going to risk Nigeria 49% shares in a company. It is not good for a new government. Look, transcrop was worth about $1.8 billion six month ago. Now transcrop is worth less than that in value since the last 6 month when Iseghohi took over. Do you think the shareholders would keep such a man.  Nigeria universities man redefine what loss in share value as Iseghohism principle very soon. Which is the act of lossing share holders funds. It is not about zoning. Longe is from the south south too. He never was that bad, except for the mistake of ILL, which was not his fault.

Noone run a business to fail. It look like Iseghohi is not a good business man. If you people don't advice him well, he would back to wall street applying for  a job.

I rest my case. If he does not change. I would be one of the people waiting to replace him. He have shown all Nigerian that USA degree is not worth the piece of paper it is written on.

Iyke-D:

@KG1

Its news to me that NITEL was doing so well and not in coma until it was bought by Transcorp, but then you
may be right as you seems to know a lot of internal stuff

Don't get it twisted, I only replied your previous post.
"they were not in coma when they bought a comatose NITEL" simply means they i.e. Transcorp was not in coma when it bought NITEL and so they should rise up and start producing results that will speak for themselves, afterall that was why it was sold in the first place- RESULTS, quality service at an affordable price.

Gone are the days of  the NITEL monopoly, there is competition out there!
The only thing that is still keeping NITEL is (B2B) the services they render to other telecomms companies in naija and the truth is there is more money in it. When it comes to the service they render to subscribers i.e individuals and businesses they have failed woefully.

Yet in all of these it's not too late, NITEL is still a goldmine anytime anyday, time will tell. Besides I'm aware of three major projects that if well implemented will turn things around for good. Two of them almost done(started and paid for by the previous NITEL) and the third a Transcorp idea.

So far transcorp has not done well, they are too slow for me but I choose to be hopeful because there is no reason why they should not do well. There is no amount invested that they can't recover if the mgt is good and the right decisions are taken on time.

wanaj0:

Your statement in bold does not reflect the events that led to the sale of NITEL to Transcorp.

Was it Transcorp that prevented IIL from paying up when they bidded for NITEL?

Was it Transcorp that prevented Pentascope from turning NITEL arround?

Was it Transcorp that prevented Orascom from submitting a bid above the reserved price?

You mean all the time that IIL won the bid for NITEL you already saw through the crystal ball that NITEL would be sold to Transcorp

What you don't know is that beyond the scenes you get to watch alot has happened behind the scene.

Don't forget that the same IIL turned out to be what you know as Globacom today, was it really a money problem that stopped them?

Pentascope could not have turned NITEL around because that was not their mission- they were supposed to kill, steal and destroy and that was exactly what they did! As soon as their mission was accomplished they fled to their country. Several billions were stolen, NITEL pension reserve was tampered with and loans were gotten from banks. The National Assembly took up the matter but eventually it was all buried. El- Rufai, baba's son was involved.

Before they came the Union of NITEL had traveled to their country to verify their claims and discovered that Pentascope was just a mushroom die minute arrangement. As a matter of fact they were not a tel. company like they claimed. A comprehensive report was passed to the Minister of communication and the then BPE boss El-Rufai. Still they went ahead because Pentascope was not coming to the nation on their own, some Nigerians were behind them and looting was the whole idea.

Orascom, you know because they were allowed to get to the bid table, how about those who did not come close to the bid table, not because they were not good enough but because they posed a threat to the pre-written script.

No Crystal ball, the whole NITEL privatization agenda had differnt phases, I was refrring to the last phase that had players like Transcorp, Orascom and the rest.

nigeria1:

Look when Tom join transcorp i wrote on Nairaland. That he would not perform. And look the way the stock have gone down.

Tom Isegohi is just coming in and I think he should be given a chance, he only needs to surround himself with people with solid ICT knowledge and take bold steps.

As for the share price slump it was simply inevitable! It happened as a result of the lifting of the technical suspension on it which was long overdue. Mr Tom has nothing to do with it. Besides Trancorp never promised any short term miracle returns so the fall in share price should not be a surprise, it happens to all stocks at different stages for different reasons.

Guys,

i think we shld generally ignore nigeria1's posts, the guy is high on sumtin you all dont want to smoke. his contributions distracts from the train of thought and arguments that wanajo, egoldman et al are putting out

if the admin guy reads this, he shld pls knock off nigeria1's post so that members of the house can follow the logical flow of the different arguments without the dumb dustractions that nigeria1 has turned himself into

transcorp is a company we are all passionate about and most of us; apart from being investors in the company, will like to see the company do well because of the business model & concept and the justice a company like that would do that nigeria's image on the world stage

They are taking too much time.

KG,

Please let us stick to facts and leave conjecture out.

Fact, IIL bidded for NITEL before Transcorp was formed. IIL won the bid but could not raise the money. If you don't know, First Bank lost N10bn in that deal. These are information available to the public.

Don't know the connection between Globacom and IIL. Check the board of the two of them and you will see the difference. IIL was promoted by Bode Akindele, Globacom by Adenuga.

Orascom bidded for NITEL and came below the reserve bid, was that also the fault of Transcorp? Did they stop Orascom from increasing their bid?

As at the time Transcorp came into the scened, government has concluded for a negotiated sale. Which company submitted a bid more than Transcorp?? I mean it was obvious to most people that Transcorp over paid.

You may fault the process but to put the blame at Transcorp is unfair. I am not a fan of Transcorp but it is always good to deal with FACTS. Maybe gobvernment tilted backwards to accommodate Transcorp. Maybe government was bent on selling NITEL. But I can tell you, government got a good price for NITEL

People only talked about the bids that Transcorp won. No one mentioned the one that they lost. Believe me, they've lost quite a number! Let us be fair!!!!

Ask yourself, how many companies were actually willing to pay top money for NITEL? Same with the refineries, who are those interested? Among those interested, how many are willing to pay the money being asked for by government?

Transcorp is preparing to fly with the coming on board of Iseghohi and the reported cisco N30 or something billion investment penciled down as reported recently in some new media . The Share Price will finally be ready to take off when these equipment land and whe people start seeing some improvement in Nitel services. Then people on the sidelines will move in to take position and the price may start lifting off. For those wanting to be sure of their money, that is those who will not like to invest based on faith or speculation they should wait for these amber lights. Before green light comes the price should already be in the N20+ range and even then you should still be able to catch a lift with less risk dropping i.e. loosing money.

let get the fact right, ILL was not able to gain the loan because of letter written by a section of Nigeria, who claim they represented their people to the bank abroad. So that why ILL fail in its bid.

When longe was there as chairman of transcrop why did they not loss so much?,   It is a question you must ask. even while longe was know for the ILL, transcrop was not doing badly. Since your friend Iseghohi took over, the market have shown that they do not trust him, 

Here is a question, if a company loss so much from N9 to about N4, nearly half the market price in USA stock exchange, what would happen to the chairman and board?,  Answer they would all be history.

Iseghohi has never managed a company that large like transcorp in his life. Or this over rating that they claim he did this and that in the USA, na for the press.

Look I have nothing against Iseghohi, but if I own shares in that company i would remove it. except if he convience the shareholder very soon . He would be out. Even longe was not that bad,  May be the shareholder would be shouting very soon,  ALL WE ARE SAYING BRING LONGE BACK. at least all of them be south south. Why fight with me,  look i can tell you how to increase the share value of transcop and increase its client with 2 years,  It is call street smart. I am Omo eko for real,   Iseghohi is not street smart. Adenuga and dangote are street smart.

Not to forget, NigeriaONE.com is given away bag of rice, for the highest poster on our site this christmas.

http://NigeriaONE.com

nigeria1:

let get the fact right, ILL was not able to gain the loan because of letter written by a section of Nigeria, who claim they represented their people to the bank abroad. So that why ILL fail in its bid.

When longe was there as chairman of transcrop why did they not loss so much?, It is a question you must ask. even while longe was know for the ILL, transcrop was not doing badly. Since your friend Iseghohi took over, the market have shown that they do not trust him,

Here is a question, if a company loss so much from N9 to about N4, nearly half the market price in USA stock exchange, what would happen to the chairman and board?, Answer they would all be history.

Iseghohi has never managed a company that large like transcorp in his life. Or this over rating that they claim he did this and that in the USA, na for the press.

Look I have nothing against Iseghohi, but if I own shares in that company i would remove it. except if he convience the shareholder very soon . He would be out. Even longe was not that bad, May be the shareholder would be shouting very soon, ALL WE ARE SAYING BRING LONGE BACK. at least all of them be south south. Why fight with me, look i can tell you how to increase the share value of transcop and increase its client with 2 years, It is call street smart. I am Omo eko for real, Iseghohi is not street smart. Adenuga and dangote are street smart.

Not to forget, NigeriaONE.com is given away bag of rice, for the highest poster on our site this christmas.

http://NigeriaONE.com

Pure Madness

Nigeria1. Uhmm!

Does Transcorp have a website?

So all this while they were crawling with their belles like lizard, pacing like chameleon. how very unfortunate!!

they flew down, not up