Transcorp means the transfer of corporate Nigeria from the government to the corporate sector. The transfer of government monopolies to private monopoly with the board co-opting our leading industrialists into one mega corporation that will acquire Nigeria including the components of Nigeria that were illegally and corruptly acquired.

It is a creation of the Nigerian stock exchange (see the movement of personnel); it will acquire every company that the government sells. It will be awarded contracts on a scale you have never imagined and the justification is that it is Nigeria Inc.

Yet as the truth begins to unfold, the ownership structure will not translate to the board composition. The stock offering will blow your mind remember Corporate Nigeria, the same tactics will be employed in fund raising.

Who is Transcorp?

I agree with you, pendelite. I think our privatization is being done in such a way as to favor some groups of people who are closer to the Government over the rest of us who are not. This Transnational Corporation appears to be one means towards that end. They want Transcorp to become Nigeria's Haliburton - the company that gets all the government contracts in the name of privatization.

But you see, the only thing worse than a public monopoly like NITEL is a private monopoly. I mean, if we look at the way MTN has behaved in the past before the arrival of solid competition, you will agree with me that in the absence of competition private companies can be even more exploitative than government parastatals. I don't like how the president is using his office to favor certain private interests above others, and how the Chairman of Transcorp is the DG of the Nigerian Stock Exchange.

My one and only problem with something like Transcorp is that it is a scam. This scam is happening right in front of the eyes of Nigerians. To illustrate some of what i mean i take someone like Nicholas Okoye who has been appointed as Group Exec. Director Operations.

My question is this: who is Nicholas Okoye? This is a man who came into Nigeria 4 years ago. Prior to this, he was in the United States in Boston living in one of the projects and barely scraping by. He managed to do an evening class at Harvard in Writing and Presentation Skills and this is how he now claims to have studied there extensively. When he arrived in Nigeria, he was barely surviving 4 years ago and was begging for handouts. Abracadabra today he is now in an exalted position.

Scams like Transcorp will continue to happen because all the people who knew people like this before they acquire 'success' in Nigeria refuse to expose them for the fraud they are. we sit idly by with our short memories and then complain. People who know Nicholas Okoye allow the publication of lies like this:

Nicholas Okoye


Nicholas Okoye’s valuable insight and experience in sophisticated Financial Strategies and Advanced Information Management Technologies led him to his recent appointment with the Nigerian Stock Exchange as the Technical Advisor to the Director General and Chief Executive Officer. In his role he is responsible for building a Global Franchise for the Nigerian Stock Exchange (NSE), leveraging off the over ten million Nigerians living and working in the Western Hemisphere. Prior to his career with NSE he was a Financial Consultant (this is Merrill's term for a junior broker) and Global Investment Advisor for Merrill Lynch(this is a lie and can be confirmed by Merrill Lynch).

Nicholas has gained deep knowledge of the techniques involved in advanced Financial Management and Large Scale Project Finance working on projects all over the World. Nicholas is presently retained, and he continues to give his expert advice to large Corporations and High Net worth Individuals on their investments in United States Stocks, Bonds, Mutual Funds and Financial Derivatives. Having served as Managing Partner to Consulting Firm, Global Strategies Consulting (this is a company formed by Mr. Okoye), Nicholas gained rare insight and expertise in the processes of Investment Strategy and the Competitive Advantage of Nations while advising Nigeria’s National Investment Promotion Commission, the Anambra State Government, the Federal Ministry of Health and the Federal Ministry of Commerce.

Nicholas Okoye compliments his extensive training and expertise in Financial Management and Investment with a strong tertiary educational background having graduated with a Bachelor of Science degree with honors in Applied Microbiology and Genetic Engineering from the Anambra State University of Technology in 1988. He went on to conduct graduate extension studies at Harvard University in Boston Massachusetts USA, studying techniques in Global Investment Management and Technology from 1997 till 1999. (THIS IS A BARE FACED LIE!!!!!!!!!)

How can you tell they are lies... what is your proof?

Nicholas is not the issue, let’s not get distracted. For once Seun and I agree on a subject. I will celebrate with Champagne today. To the issue at hand, we can siddon look or investigate further.

Now I called Harvard University at 617 495 1000 and they gave me the graduate extension studies at 617 495 4024 and they transferred to the academic records department. Nicholas did attend Harvard for two classes, one in 1997 and another in 1999. These classes are executive classes. So you can read that anyway you like. And please dont be calling people liars unless you can prove it.

Surely there is a difference between doing a class between 1997 till 1999 and, doing two classes one in 1997 AND one in 1999. One of the classes was in Presentation and Writing Skills. Did you check this out? Proof is there if you want to see it. The people who knew him are still alive and he has shunned them or prevented them from coming to close to him so as not to pour sand in his garri.

Someone says Nicholas is not the problem? The only way for evil to thrive is for the good to sit idly by. This is the problem!!!! Too many of us have short memories. I have no issue with someone starting from nothing and working his way up in life. My issues only start when this progression is housed on a pack of lies and lies which can easily be proven for that matter.

When people allow this to happen, only your imagination can prepare you for the kind of Nigeria we are preparing for ourselves.

before i forget , I did not call anyone a liar... merely the statements false. If you read my post i was very careful not to call him a lie directly. As for proof? well you called Harvard yourself. My Proof are the people walking around Nigeria now who knew him as did i back then.

Stop spreading 'backyard stories' on this forum

TRANSCORP OFFER:

Unite of Sale: A minimum of 200,000 ordinary shares and multiples of
100,000 thereafter.

Offer price: =N=6.00 per share

Application: Application must be for a minimum of 200,000 ordinary
shares and in multiples of 100,000 shares thereon.

I forgot to add, attending Executive Courses is not a bad thing but an enhancement to his resume and even then most resumes are a stretch as well. I have interviewed hundreds of people with long resumes and numerous certifications that have no clue of the foundational requirements of the job they are seeking.

If you take Harvard away from the resume, it makes him no less capable an individual, Microbiology and Genetic Engineering are not be sniffed at. Nicholas has worked very hard for where’s he’s gotten to. Friends that he keeps at a distance have no right to bring him disrepute because he did not invite them to come and chop too.

Now I said Nicholas was not the issue rather Transnational whatever is. What is it, who is it, what are its aims and objectives. Does it serve the national (shareholders) interest or private interest. That is the real issue

Omon - What's your stress?

TRANSCORP OFFER:

Unite of Sale: A minimum of 200,000 ordinary shares and multiples of
100,000 thereafter.

Offer price: =N=6.00 per share

Application: Application must be for a minimum of 200,000 ordinary
shares and in multiples of 100,000 shares thereon.

If the above stated figures are anything to go by, i wonder how many civil servant will be able to honestly afford a share in that company. Abeg Transcorp is for the super-rich.

The minimum of N1.2 million is too much for the average working person in Nigeria.

According to the chairman of Transcorp, Dr (Mrs.) Ndi Okereke Onyiuke, “This will mean that our people both here as well as in Diaspora can invest their savings in Transcorp and make superior returns. In the process, they will be part of the New Nigeria".

its really for the rich to invest in.

their mission, vision are clearly stated here

http://www.transcorpnigeria.com/corporate_info.asp

The DG of NSE is said to be serving as the start -up chairman, maybe she'll be replaced later.

anyway, lets see if they can fufill their vision/mission.

Ok, their website is now live: www.transcorpnigeria.com

(it was still under construction when we started this thread)

Talk is cheap.

I wonder why so much importance is placed on the oil sector. The text on their power sector page was lifted directly from the oil sector page.

The industry is capital intensive. For instance bids for year 2000 licensing rounds varied from $30m; the 1000 kilometre West African Gas Pipeline to Ghana is estimated at $500m while an oil refinery of 100,000-bpd capacity could cost upwards of $1.0 billion. The industry is also a technology intensive as a significant proportion of the operating equipment and components is imported. High risk-high

On the power sector page i was expecting to see how they hope to revivew the brain dead power 'electricity' sector of the economy, but all am seeing is upstream/downstream.

And if i may ask why is Obasanjo's picture a 'background' on that site.

He appears to be their spokesmodel.

All you guys should kool down... It is becoming clearer that even the south africans are seeing a lot more than we can see within Nigeria. That is why we long to go outside and the south africans/Indians are taking up places and setting the pace for 'first mover advantage'.. Lets watch and see what becomes of Transcorp.

Well all said and submitted so far, I think we need to give this initiative a chance. What I think the initiators of this great idea are yet to do is to give this initiative the much needed publicity it requires. Most people havent even heard abot Transcorp. Imagine , I intended picking up a conversation on this with a suppossedly enlightened coleague of mine and the only answer i could get was ''What The Hell is Transcorp? Is it ann Insurance Company?''. Please I think the initiators have to do the needful -create awareness on Transcoro. Let the information not be the sole reserve of a few elite.
By the way how do we get to be part of this Dream?
Or is it all the sole reserve of a few prevliedged class of elites. Do I have to be blue blooded with foreign credentials. Do I have to be bretton Woods or Harvard. I need an answer.

Well all said and submitted so far, I think we need to give this initiative a chance. What I think the initiators of this great idea are yet to do is to give this initiative the much needed publicity it requires. Most people havent even heard abot Transcorp. Imagine , I intended picking up a conversation on this with a suppossedly enlightened coleague of mine and the only answer i could get was ''What The Hell is Transcorp? Is it ann Insurance Company?''. Please I think the initiators have to do the needful -create awareness on Transcoro. Let the information not be the sole reserve of a few elite.
By the way how do we get to be part of this Dream?
Or is it all the sole reserve of a few prevliedged class of elites. Do I have to be blue blooded with foreign credentials. Do I have to be bretton Woods or Harvard. I need an answer.

Transcorp belongs to the rich, so they target and direct their adverts to them. You can be a Transcorper as long as you can part with 1.2 Million Naira (that's the minimum you can invest).

Check their website for more information about them.

The transcorp idea is nice. We need more transcorps not just one .... more than one transcorp like organisation is what would minimize the evils of this transcorp thing and enhance the goodness

You've mentioned Japan, Korea and others ... did it not strike you that there was not just one organisation Even in the US, you have players like Microsoft,Oracle,e.t.c(software) Dell,IBM(Hardware), Google,Yahoo, Miscorsot's MSN (Forget the fight for AOL).

One Transcorp would be a problem there would be no competition. Three Transcorp like organisation ... would be a 10yrs growth Plan for Nigeria as each would fight the other tooth and nail for choice industry and they will would have too much money and keep looking for outlets hence the need to develop undeveloped sectors would set in. The Macro Economics advantages would only be achieved through competition.

Government support of the only existing transcorp is bad. Infact Government seems to be partial in this their motive should be questioned. Assuming the likes of Dangote, Ibru, Ovia came together and put up say $2 billion to form a corporation and Elumelu, Marwa,Kabo,Coscharis put up another $2 billion and form another without bringing government into it then both corporations seek to exploit legislations on trade to maximize profit, I would be able to rejoice better.

The DG of NSE though she has the right to join any organisation should have distanced herself from the day to day management of the organisation as this would bring her ability to be impartial into question.

Now for those who have N 1.2 million to invest this is an oppurnunity.... If you buy now in private placements @ N6.00 each, when the shares go to the market for IPO i think it would sell in excess of N10 a share and should follow a growth curve for the next three months. That is to say that if you invest N1.2 m in dec and they go to the market say in March and you sell in july ... you should at least double your investment.
(ANY STOCK BROKER HERE PLEASE HELP US)

Secondly does it not strike you that there would be a lot of power tussle in that corporation. Bring a group of High achievers and dominators and place them together EGO, Habit and competition would dominate. I would love to be privvy to the boardroom politics of this group.

Transcorp is a sh*t company. OBJ told us it was a Nigerian company now you cant own shares except u have 1.2 milla.OBJ's honest crap!It was meant for his amigos Dangote- et al. Anywayz cant one of us with some knowledge of investment managing put together a consortium for we poor blokes. U can get your commission. "I Go Chop Your Dollar"

What they have now is a private offer. The public offer will come in the early part of next yr.

I am very sorry for some people who are just enemies of progress. How can such a nice idea by a bunch of brilliant minded Nigerians be talked and castigated about. Please Brothers and Sisters could we for once offer some kind of patriotism in anything Nigerian. I read the contents of this topic and nearly came to tears not just for the pitiable myopic criticism for which Obinski was lashing at a very amiable friend of mine Nicholas Okoye but also the very fact that there is no basis to what he was trying to convey. Let me just clarify this for him(Obinski). I have known Mr. Okoye for almost throughout my life, He had worked as a Financial Consultant and Global Investment Advisor for Merrill Lynch, while resident here in Boston. He is a rare find for the position he has been offered.He went back to Nigeria to contribute to an ailing Global financing structure.
Please Mr. Obinski do not use this board to stipulate what you don't have a clue about. the wrath of God might get to you for character assassination.If you have a personal problem with Mr. Okoye then talk about it, not talk about what you don't know.
Thanks

Nigerians have a way of running down their country

I could use them if i have the money at hand. I could test them with small projects before big ones..Infact one of my dreams is to build the largest african hospital in lagos and their help will remain invaluable apart from power help

Please if you have any type of dreams like me go ahead and dont pay no attention to people like OBINSKI
I am working to see if i could establish some of the best internet cafes in Nigeria and project from there

Try Their website here: http://www.transcorpnigeria.com

Their investors' forum here : http://www.transcorpnigeria.com/investor_rel.asp

Most times it is good to get more into on a thing before being pessimistic about it except when probing to get more information. I believe in Transcorp and hope to get at least the minimum stock.

ghm, good luck but the point is that most ppl cant make that minimum investment in Nigeria Inc., so who's country is it anyway?

Wait for the public offer to buy shares. The public offer will be open later in the first quarter of the yr

Do you know what Public offers are?
They are a suckers game that let the initial investors cash in on their earlier investment

Do you know what Public offers are?
They are a suckers game that let the initial investors cash in on their earlier investment Lips sealed

My brother God bless you for having[b] a sound "inner-eye".[/b]

It shall be taking from the have-not to enrich the have-plenty.

I wonder at the position of someone on this medium who holds the idea that megastalls would mean no competition. He should have a change of heart, maybe he has lived most of his life in the computer village. There is need for him to move out.

Imagine the Computer Village with a great outlook, well built stores and no room for sale pf stolen handsets. Hmmn! you probably never thought about the other side of the Village.

Go to Taiwan, Indonesia, Dubai and some of the other Asian countries, where such technological goods are far cheaper than you would probably find in Ikeja.

Our problem in this country has always been our lack of accommodation for our own people to do things the way it ought to be done. What problem is there in some group of people coming together to make a world-class business organization? Maybe you and your Friends should think about it too.

Criticisms are welcome, but you must make them constructive. Things should not be done like they have always been done, but improvements should come in.

Don't be resistive to changes for the good, be involved!