ukay2:


Access and Zenith are still better than UBA........if you know you know

UBA needs CBN, SEC and EFCC torchlights and investigations

samguru:


How far

On top say the guy earlier admitted he was wrong.
You still challow am
Mehn guyz ain’t smiling

samguru:
NSE may also place First Bank on Technical suspension

Think we needed to get more clearer picture of what's happening here.........
If this is about Oba OTUDEKO's 85B loan as well as sacking the CEO and replacing with others, which CBN claimed they never get any notice from First Bank, why should we be expecting heavens to fall?
Ok. Maybe I should keep reading and learning more about all these........but I expect FBNH to resolve this with the Apex bank soonest......

samguru:


How far

OBAGADAFFI:
https://nairametrics.com/2021/04/29/breaking-cbn-sacks-all-board-members-of-first-bank-of-nigeria-first-bank-of-nigeria-holding/

Wow, I was wrong.

CBN

Cool down

Willie2015:

It will surely come down to N27/N28
Bt will wait till 25/26
No new again till interim div... Aug/Sept
B/4 I start picking in tranches.

Nothing daunted
Gonna chill till it reaches the right bus stop

samguru:



It happened when CBN sacked the boards of intercontinental bank,oceanic,Bank PHB,Finbank,union bank and Afribank.

Though they later lifted the suspension sha.

History may repeat itself

Those banks were to be recapitalized, CBN pumped N400 million into those banks. FBN problem did not get to that level.

FBN was out of the wood due to the current management, Otudeko want it to go back to the wood for his own benefits. CEO was not ready to play ball, so the board in quote sacked him without due process.


Emefiele had to stand by his colleagues, a fellow Bank CEO.

When FBN lost $100 million in the IIL deal about 20 years ago, they sacrificed the CEO. Instead of all the board members to be sacked.

20 years ago, the combined equities of GTB and Zenith Bank was not up to $100 million

yMcy56:

Think we needed to get more clearer picture of what's happening here.........
If this is about Oba OTUDEKO's 85B loan as well as sacking the CEO and replacing with others, which CBN claimed they never get any notice from First Bank, why should we be expecting heavens to fall?
Ok. Maybe I should keep reading and learning more about all these........but I expect FBNH to resolve this with the Apex bank soonest......

With the sacking of the board "heaven is falling".

CBN and SEC might not go in same direction

emmanuelewumi:



UBA needs CBN, SEC and EFCC torchlights and investigations

Oga Ema,

Tony and Jim sabi political banking wella and they play it well with those political giants at the corridor of power.

If you don't know, Emefiele loyalty to Jim still dey strong kakaraka

Why do you think Tony is acquiring government assets with ease.?

That is why the duo returned back to their banks as chairmen.

This guy in Access bank too may come back to chair access bank after his tenure.

SEC oooo
NSE ooo
FRC oooo
CBN ooo

All of the regulators will continue to spare these actors in the banking space no matter their level of shenanigans.

Besides,why do you think access bank rushed to drop #1 billion for Cacovid project?

OBAGADAFFI:
With the sacking of the board "heaven is falling".

CBN and SEC might not go in same direction

I just don't think the country needed all these drama at this time.....
Emefiele keeps compounding problems......this still has political undertone....

emmanuelewumi:



Those banks were to be recapitalized, CBN pumped N400 million into those banks. FBN problem did not get to that level.

FBN was out of the wood due to the current management, Otudeko want it to go back to the wood for his own benefits. CEO was not ready to play ball, so the board in quote sacked him without due process.


Emefiele had to stand by his colleagues, a fellow Bank CEO.

When FBN lost $100 million in the IIL deal about 20 years ago, they sacrificed the CEO. Instead of all the board members to be sacked.

20 years ago, the combined equities of GTB and Zenith Bank was not up to $100 million

I hope you know the first assignment the new board will embark on is to open the wardrobe for the world to see the dirty things happening in the bank.
Case in point, intercontinental bank case was not that terrible but Mahmud Alabi (CBN appointed CEO of Intercontinental bank) exaggerated the matter and portrayed intercontinental bank as the bank that has spoilt beyond redemption.
Don't forget the same bank access acquired at tasere money catapulted it to the league of tier 1 bank .

samguru:


Oga Ema,

Tony and Jim sabi political banking wella and they play it well with those political giants at the corridor of power.

If you don't know, Emefiele loyalty to Jim still dey strong kakaraka

Why do you think Tony is acquiring government assets with ease.?

That is why the duo returned back to their banks as chairmen.

This guy in Access bank too may come back to chair access bank after his tenure.

SEC oooo
NSE ooo
FRC oooo
CBN ooo

All of the regulators will continue to spare these actors in the banking space no matter their level of shenanigans.

Besides,why do you think access bank rushed to drop #1 billion for Cacovid project?

Please you can't compare Zenith with UBA.

Can you tell me Jim indebtedness to Zenith


You saw the last q1 result of United Capital, the company spent a whooping N175 million on AGM who does that.


Before shareholders complained to SEC, APR was paying N100 million to Heir for fund management. Who does that, no be to buy Treasury Bill and FG bonds. Why pay someone N100 million as fund management fee.

I pity people who are heavy in UBA sha

samguru:


I hope you know the first assignment the new board will embark on is to open the wardrobe for the world to see the dirty things happening in the bank.
Case in point, intercontinental bank case was not that terrible but Mahmud Alabi (CBN appointed CEO of Intercontinental bank) exaggerated the matter and portrayed intercontinental bank as the bank that has spoilt beyond redemption.
Don't forget the same bank access acquired at tasere money catapulted it to the league of tier 1 bank .

Otudeko is owing close to N80 billion, that can't kill FBN. CBN would not have allowed them to pay dividend if the situation is so bad.


In case you guys don't know e get why UBA paid a very poor dividend, a lot of audio earnings.

emmanuelewumi:



Please you can't compare Zenith with UBA.

Can you tell me Jim indebtedness to Zenith


You saw the last q1 result of United Capital, the company spent a whooping N175 million on AGM who does that.


Before shareholders complained to SEC, APR was paying N100 million to Heir for fund management. Who does that, no be to buy Treasury Bill and FG bonds. Why pay someone N100 million as fund management fee.

I pity people who are heavy in UBA sha

Ema,
If our CBN examiners enter zenith today,they will rubbish the bank and you self go open your mouth and say "so these frauds they go underground"

Forget the happenings in Tony's world and just swim along.when you get to your destination come down and leave Tony and his properties.

CBN GOVERNOR’S STATEMENT ON THE PURPORTED MANAGEMENT CHANGE AT THE FIRST BANK OF NIGERIA LTD

1.0 Good afternoon ladies and gentlemen.

2.0 The media has been awash with commentaries on the purported management changes at First Bank of Nigeria Ltd (FBN) and the related regulatory inquiry by the Central Bank of Nigeria (CBN) to the Board of First Bank of Nigeria Limited. It has therefore become necessary for me to address the public to clear any misconceptions.

3.0 Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the Bank over the last 5 years aimed at stemming the slide in the going concern status of the bank. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. The action by the board of FBN sends a negative signal to the market on the stability of leadership on the board and management and it is in light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank.

4.0 As you may be aware, FBN is one of the systemically important banks in the Nigerian banking sector given its historical significance, balance sheet size, large customer base and high level of interconnectedness with other financial service providers, amongst others. By our last assessment, FBN has over 31m customers, with deposit base of N4.2trn, shareholders funds of N618bn and NIBSS instant payment (NIP) processing capacity of 22% of the industry. To us at the CBN, not only is it imperative to protect the minority shareholders, that have no voice to air their views, also important, is the protection of the over 31m customers of the bank who see FBN as a safe haven for their hard-earned savings.

5.0 The bank maintained healthy operations up until 2016 financial year when the CBN’s target examination revealed that the bank was in grave financial condition with its capital adequacy ratio (CAR) and non-performing loans ratio (NPL) substantially breaching acceptable prudential standards.

6.0 The problems at the bank were attributed to bad credit decisions, significant and non-performing insider loans and poor corporate governance practices. The shareholders of the bank and FBN Holding Plc also lacked the capacity to recapitalize the bank to minimum requirements. This conclusions arose from various entreaties by the CBN to them to recapitalize.

7.0 The CBN stepped in to stabilize the bank in its quest to maintain financial stability, especially given FBN’s systemic importance as enumerated earlier. Regulatory action taken by the CBN in this regard included:

i. Change of management team under the CBN’s supervision with the appointment of a new Managing Director/ Chief Executive Office in January 2016.

ii. Grant of the regulatory forbearances to enable the bank work out its non-performing loans through provision for write off of at least N150b from its earning for four consecutive years.

iii. Grant of concession to insider borrower to restructure their non-performing credit facilities under very stringent conditions

iv. Renewal of the forbearances on a yearly basis between 2016 and 2020 following thorough monitoring of progress towards exiting from the forbearance measures

8.0 The measures had yielded the expected results as the financial condition of FBN improved progressively between 2016 when the forbearance was initially granted to the current financial year. For instance, profitability, liquidity and CAR improved whilst NPL reduced significantly.

9.0 Notwithstanding the significant improvement in the bank’s financial condition with positive trajectory of financial soundness indicators, the insider related facilities remained problematic.

10.0 The insiders who took loans in the bank, with controlling influence on the board of directors, failed to adhere to the terms for the restructuring of their credit facilities which contributed to the poor financial state of the bank. The CBN’s recent target examination as at December 31, 2020 revealed that insider loans were materially non-compliant with restructure terms (e.g. non perfection of lien on shares/collateral arrangements) for over 3 years despite several regulatory reminders. The bank has not also divested its non-permissible holdings in non-financial entities in line with regulatory directives

11.0 Following further review of the situation and in order to preserve stability of the bank, so as to protect minority shareholders and depositors, the Management of the CBN in line with its powers under BOFIA 2020 has approved and hereby directs:

i. Immediate removal of the all directors of FBN Ltd and FBN Holdings Plc

ii. The appointment of the following persons as directors in FBN Ltd and FBN Holdings Plc

Holdco

1.Chairman – Remi Babalola

2.Dr. Fatade Abiodun Oluwole

3.Kofo Dosekun

4.Remi Lasaki

5.Dr Alimi Abdulrasaq

6.Ahmed Modibbo

7.Khalifa Imam

8.Sir Peter Aliogo

9.UK Eke – Managing Director

Bank

1. Chairman – Tunde Hassan-Odukale

2. Tokunbo Martins

3. Uche Nwokedi

4. Adekunle Sonola

5. Isioma Ogodazi

6. Ebenezer Olufowose

7. Ishaya Elijah B. Dodo

8. Sola Adeduntan – Managing Director

9. Gbenga Shobo – Deputy Managing Director

10. Remi Oni – Executive Director

11. Abdullahi Ibrahim – Executive Director

12.0 The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensure the stability of the financial system. There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.


@mycf

Oba Otudeko used his Airtel shares as collateral for Honeywell's Ecobank loan.

Oba Otudeko used the same Airtel shares (and some Honeywell assets) as collateral for a First Bank loan.

According to news reports, Otudeko’s Airtel shares were used as collateral for Honeywell’s Ecobank loan. Yet, in an interesting turn of events, those same Airtel shares as well as some Honeywell assets were also used as collateral for the credit facility from First Bank.

According to one banking insider, “In a round about way, First Bank now owns the assets pledged to Ecobank.”

“So the same asset (Honeywell and Airtel) is allegedly pledged to Ecobank and none of the banks can move in on these assets. First Bank has an equity position while Ecobank has a debt position.”



Mad people everywhere

samguru:
Stay off FBNH now!

CBN may sack the entire board of First Bank and once this happen,shareholders will suffer.

It has happened.

samguru:


Ema,
If our CBN examiners enter zenith today,they will rubbish the bank and you self go open your mouth and say "so these frauds they go underground"

Forget the happenings in Tony's world and just swim along.when you get to your destination come down and leave Tony and his properties.

I gave instance of Tony based on the annual reports, kindly give that of Jim based on the financial reports of the Zenith Bank.

emmanuelewumi:



Otudeko is owing close to N80 billion, that can't kill FBN. CBN would not have allowed them to pay dividend if the situation is so bad.


In case you guys don't know e get why UBA paid a very poor dividend, a lot of audio earnings.

Do you believe the audited reports of all these banks reflect the true happenings in the banks?

Before before,
Banks circulate money among themselves and picked different financial year end.
For instance Bank A gives money to Bank B to shore up her book for reporting and after reporting Bank B gives the money back to bank A.
The expanded discount window was used to perpetrate this act not until,when sanusi came and closed down the window and compelled all banks to have uniform financial year end.

At the introduction of this policy by sanusi,banks dividends dropped drastically and all banks carry their crosses.

The banks that are not liquid enough used Euro bond to add flesh to their bones while the ones that are liquid to some extent usually retain over 60% of their EPS to keep building reserve.

The basel III was launched to ensure that reports of these bank have small integrity.

So my brother,all these profits our banks are reporting are not 100% believable.

emmanuelewumi:



I gave instance of Tony based on the annual reports, kindly give that of Jim based on the financial reports of the Zenith Bank.

If you watch tony body language during the AGM ,he could not respond to the question raised on reduced dividend rather he pushed it to kennedy and Kennedy said they need money to make more money for shareholders and that shareholders will reap more from their investment.

Jim Ovia,no get time for shareholder,watch him closely during AGM,he does not smile like Tony use to.

samguru:
NSE may also place First Bank on Technical suspension

Why ?

Let it come down to N2.00

We need to mop it ....

samguru:


Do you believe the audited reports of all these banks reflect the true happenings in the bank?

Before before,
Banks circulate money among themselves and picked different financial year end.
For instance Bank A gives money to Bank B to shore up her book for reporting and after reporting Bank B gives the money back to bank A.
The expanded discount window was used to perpetrate this act not until,when sanusi came and closed down the window and compelled all banks to have uniform financial year end.

At the introduction of this policy by sanusi,banks dividends dropped drastically and all banks carry their crosses.

The banks that are not liquid enough used Euro bond to add flesh to their bones while the ones that are liquid to some extent usually retain over 60% of their EPS to keep building reserve.

The basel III was launched to ensure that reports of these bank have small integrity.

So my brother,all these profits our banks are reporting are not 100% believable.

Your dividend is your own, my dividend from Zenith Bank grew by about 300% in the last 15 years.


Earnings can be audio, dividends are not.

UBA earnings are audio, the bank only paid the amount approved by CBN

emmanuelewumi:



Your dividend is your own, my dividend from Zenith Bank grew by about 300% in the last 15 years.


Earnings can be audio, dividends are not.

UBA earnings are audio, the bank only paid the amount approved by CBN

Do you know that CBN is happy when bank declares small or no dividends?

samguru:


If you watch tony body language during the AGM ,he could not respond to the question raised on reduced rather he pushed it to kennedy and Kennedy said they need money to make more money for shareholders and that shareholders will reap more from their investment.

Jim Ovia,no get time for shareholder,watch him closely during AGM,he does not smile like Tony use to.

Me too no dey smile, but very sincere.


Under Tony smile , you know wetin dey.


95% of Shareholders at AGMs are praise singers and Tony love it.

samguru:


Do you know that CBN is happy when bank declares small or no dividends?

Shareholders own the bank. UBA workers earned almost N80 billion, but shareholders earned N16 billion


First Bank workers earned N100 billion, shareholders earned N14 billion.

GTB workers earned about N50 billion, shareholders earned about N98 billion


Zenith bank workers earned N78 billion, shareholders earned N98 billion.

Between UBA and Zenith, which one is concerned about their shareholders?

CBN's sack of the boards of directors of FBN and FBNH is the best thing to happen to the bank. It's been an open secret that a dominant director in the sacked board had wielded undue influence in the bank's credit affairs that almost strangled it. The action was long overdue. It should be a cheering news to the shareholders that the man has been uprooted from the bank. Seriously speaking, I see a new dawn in the affairs of the bank. I am bullish on the bank.

Otudeko out is the big change. Hope he will be forced to forgo his First Bank shares to pay for any outstanding non performing loans he has.
May not be bad for those of us in this bus. In fact returns may be better in the next one year.

ukay2:
CBN GOVERNOR’S STATEMENT ON THE PURPORTED MANAGEMENT CHANGE AT THE FIRST BANK OF NIGERIA LTD

1.0 Good afternoon ladies and gentlemen.

2.0 The media has been awash with commentaries on the purported management changes at First Bank of Nigeria Ltd (FBN) and the related regulatory inquiry by the Central Bank of Nigeria (CBN) to the Board of First Bank of Nigeria Limited. It has therefore become necessary for me to address the public to clear any misconceptions.

3.0 Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the Bank over the last 5 years aimed at stemming the slide in the going concern status of the bank. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. The action by the board of FBN sends a negative signal to the market on the stability of leadership on the board and management and it is in light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank.

11.0 Following further review of the situation and in order to preserve stability of the bank, so as to protect minority shareholders and depositors, the Management of the CBN in line with its powers under BOFIA 2020 has approved and hereby directs:

i. Immediate removal of the all directors of FBN Ltd and FBN Holdings Plc

ii. The appointment of the following persons as directors in FBN Ltd and FBN Holdings Plc

Holdco

1.Chairman – Remi Babalola

2.Dr. Fatade Abiodun Oluwole

3.Kofo Dosekun

4.Remi Lasaki

5.Dr Alimi Abdulrasaq

6.Ahmed Modibbo

7.Khalifa Imam

8.Sir Peter Aliogo

9.UK Eke – Managing Director

Bank

1. Chairman – Tunde Hassan-Odukale

2. Tokunbo Martins

3. Uche Nwokedi

4. Adekunle Sonola

5. Isioma Ogodazi

6. Ebenezer Olufowose

7. Ishaya Elijah B. Dodo

8. Sola Adeduntan – Managing Director

9. Gbenga Shobo – Deputy Managing Director

10. Remi Oni – Executive Director

11. Abdullahi Ibrahim – Executive Director

12.0 The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensure the stability of the financial system. There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.


@mycf

Uncle T looks to be doing ok... my long play still looking sweet.

Did anyone notice that spike on Okomuoil today

ukay2:
CBN GOVERNOR’S STATEMENT ON THE PURPORTED MANAGEMENT CHANGE AT THE FIRST BANK OF NIGERIA LTD

1.0 Good afternoon ladies and gentlemen.

2.0 The media has been awash with commentaries on the purported management changes at First Bank of Nigeria Ltd (FBN) and the related regulatory inquiry by the Central Bank of Nigeria (CBN) to the Board of First Bank of Nigeria Limited. It has therefore become necessary for me to address the public to clear any misconceptions.

3.0 Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the Bank over the last 5 years aimed at stemming the slide in the going concern status of the bank. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. The action by the board of FBN sends a negative signal to the market on the stability of leadership on the board and management and it is in light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank.

4.0 As you may be aware, FBN is one of the systemically important banks in the Nigerian banking sector given its historical significance, balance sheet size, large customer base and high level of interconnectedness with other financial service providers, amongst others. By our last assessment, FBN has over 31m customers, with deposit base of N4.2trn, shareholders funds of N618bn and NIBSS instant payment (NIP) processing capacity of 22% of the industry. To us at the CBN, not only is it imperative to protect the minority shareholders, that have no voice to air their views, also important, is the protection of the over 31m customers of the bank who see FBN as a safe haven for their hard-earned savings.

5.0 The bank maintained healthy operations up until 2016 financial year when the CBN’s target examination revealed that the bank was in grave financial condition with its capital adequacy ratio (CAR) and non-performing loans ratio (NPL) substantially breaching acceptable prudential standards.

6.0 The problems at the bank were attributed to bad credit decisions, significant and non-performing insider loans and poor corporate governance practices. The shareholders of the bank and FBN Holding Plc also lacked the capacity to recapitalize the bank to minimum requirements. This conclusions arose from various entreaties by the CBN to them to recapitalize.

7.0 The CBN stepped in to stabilize the bank in its quest to maintain financial stability, especially given FBN’s systemic importance as enumerated earlier. Regulatory action taken by the CBN in this regard included:

i. Change of management team under the CBN’s supervision with the appointment of a new Managing Director/ Chief Executive Office in January 2016.

ii. Grant of the regulatory forbearances to enable the bank work out its non-performing loans through provision for write off of at least N150b from its earning for four consecutive years.

iii. Grant of concession to insider borrower to restructure their non-performing credit facilities under very stringent conditions

iv. Renewal of the forbearances on a yearly basis between 2016 and 2020 following thorough monitoring of progress towards exiting from the forbearance measures

8.0 The measures had yielded the expected results as the financial condition of FBN improved progressively between 2016 when the forbearance was initially granted to the current financial year. For instance, profitability, liquidity and CAR improved whilst NPL reduced significantly.

9.0 Notwithstanding the significant improvement in the bank’s financial condition with positive trajectory of financial soundness indicators, the insider related facilities remained problematic.

10.0 The insiders who took loans in the bank, with controlling influence on the board of directors, failed to adhere to the terms for the restructuring of their credit facilities which contributed to the poor financial state of the bank. The CBN’s recent target examination as at December 31, 2020 revealed that insider loans were materially non-compliant with restructure terms (e.g. non perfection of lien on shares/collateral arrangements) for over 3 years despite several regulatory reminders. The bank has not also divested its non-permissible holdings in non-financial entities in line with regulatory directives

11.0 Following further review of the situation and in order to preserve stability of the bank, so as to protect minority shareholders and depositors, the Management of the CBN in line with its powers under BOFIA 2020 has approved and hereby directs:

i. Immediate removal of the all directors of FBN Ltd and FBN Holdings Plc

ii. The appointment of the following persons as directors in FBN Ltd and FBN Holdings Plc

Holdco

1.Chairman – Remi Babalola

2.Dr. Fatade Abiodun Oluwole

3.Kofo Dosekun

4.Remi Lasaki

5.Dr Alimi Abdulrasaq

6.Ahmed Modibbo

7.Khalifa Imam

8.Sir Peter Aliogo

9.UK Eke – Managing Director

Bank

1. Chairman – Tunde Hassan-Odukale

2. Tokunbo Martins

3. Uche Nwokedi

4. Adekunle Sonola

5. Isioma Ogodazi

6. Ebenezer Olufowose

7. Ishaya Elijah B. Dodo

8. Sola Adeduntan – Managing Director

9. Gbenga Shobo – Deputy Managing Director

10. Remi Oni – Executive Director

11. Abdullahi Ibrahim – Executive Director

12.0 The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensure the stability of the financial system. There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.


@mycf

Is FBNH now a LTD

ukay2:


Many unseen cockcroaches in FBNH will start flying out soonest

What was the motive of buying FBNH at N7.40 when you know the exposure of upto N80 billion grandpapa loan took that is being restructured every quarter without collaterals.

FBN is an important systemic financial institution in Nigeria, any stories of the bank collapse will lead to several Nigerian citizens dieing before their time

This measure by CBN to FBNH is late self , but still better than more damages

Does anyone remember the Seawolf loan saga?
He who has ears...

BabsO2:
Otudeko out is the big change. Hope he will be forced to forgo his First Bank shares to pay for any outstanding non performing loans he has.
May not be bad for those of us in this bus. In fact returns may be better in the next one year.

His shares in Fbn is worth N5 billion , his debt is about N80 billion

emmanuelewumi:



His shares in Fbn is worth N5 billion , his debt is about N80 billion