Jarus:

I do not subsribe to rubbishing the Ibru family for Cecilia's undoing.

Cecilia is even a wife, not a daughter of the family. The family patriach is Olorogun Michael, now in his eighties, an insightful, industrious man, that worked his way into money in the 1940s. He started with petty trading and now has multi-billion naira family business, which you mentioned above. Having made it early and out of selflessness,the young Michael Ibru sent his younger siblings to best-in-town schools, and got them educated abroad. He nurtured them and today we have all of them doing well, including  Felix Ibru(Senator, ex-governor), Alex Ibru(ex-minister and publisher of Guardian), Richard Ibru and Donald Ibru, not to forget his son, Oscar Ibru.

So please, all the companies you mentioned above are owned by one or more of the Ibru brothers, but most by their patriach, Michael. Most have been around even before Oceanic; we therefore cannot conclude that they were started with stolen millions. At least, Guardian was established in 1982.

The man is now very old and has his wife, Cecilia, managing them. That is why I, for one, have never respected Cecilia(she doesn't need my respect really) the way  I respect the likes of Fola Adeola, Atedo Peterside and even Erastus(at least Intercontinental bank was Erastus idea from scratch). Oceanic bank is not her baby, just a family business she's put in charge and could have been anybody.

We should be grateful to the Ibrus, especially their patriach, for contributing their quota to the industrialization of Nigeria and employing tens of thousands of people.

SapeleGuy:

Do you own and stop hating !

SapeleGuy:

JamesG - Don't read too much into my earlier comment.
However, you can't monopolise business per se, you monopolise a sector. I believe you will struggle to find a sector that they dominate to the exclusion of all competitors.

Jarus:

I do not subsribe to rubbishing the Ibru family for Cecilia's undoing.
Cecilia is even a wife, not a daughter of the family. The family patriach is Olorogun Michael, now in his eighties, an insightful, industrious man, that worked his way into money in the 1940s. He started with petty trading and now has multi-billion naira family business, which you mentioned above. Having made it early and out of selflessness,the young Michael Ibru sent his younger siblings to best-in-town schools, and got them educated abroad. He nurtured them and today we have all of them doing well, including  Felix Ibru(Senator, ex-governor), Alex Ibru(ex-minister and publisher of Guardian), Richard Ibru and Donald Ibru, not to forget his son, Oscar Ibru.
So please, all the companies you mentioned above are owned by one or more of the Ibru brothers, but most by their patriach, Michael. Most have been around even before Oceanic; we therefore cannot conclude that they were started with stolen millions. At least, Guardian was established in 1982.
We should be grateful to the Ibrus, especially their patriach, for contributing their quota to the industrialization of Nigeria and employing tens of thousands of people.

adigun101:

And so what ? Is it a crime to be rich ? Did they steal from Nigeria's coffers ? People like the IBRUs including the so called sacked bank MDs are the good eggs in Nigeria. Having worked their way to the top. Have you ever thought of how much employment oppurtunities the Ibrus has provided the economy. SERIOUSLY, WHAT IS YOUR POINT !

otokx:

CECILIA did not work her way to any top; she is even a second wife to start with who came to reap where she did not sow. How many children does she even have for the man? You all go and find out.

otokx

link=topic=312588.msg4392961#msg4392961 date=1250833691:

She has contributed to oceanic only and that too can be questioned as she did not start it. She was married to another man before and its his children she tried to introduce into the OCEANIC family but the real IBRU dynasty was opposed to that wayo.

otokx:

She has contributed to oceanic only and that too can be questioned as she did not start it. She was married to another man before and its his children she tried to introduce into the OCEANIC family but the real IBRU dynasty was opposed to that wayo.

Jarus:

The man is now very old and has his wife, Cecilia, managing them. That is why I, for one, have never respected Cecilia(she doesn't need my respect really) the way  I respect the likes of Fola Adeola, Atedo Peterside and even Erastus(at least Intercontinental bank was Erastus idea from scratch). Oceanic bank is not her baby, just a family business she's put in charge and could have been anybody.

otokx:

She should assimilate her children in her present dilemma; shameless woman who went to target one old papa.

Beaf:

JamesG comes up with the idea that the Ibru's are somehow scum who run a monopoly. Those who know better have slapped him down on both counts, so tail between legs; the next straw to grab at is "oh she's just a wife anyway!". That is really low and pathetic.

When people steal money and are loud, we hail and patronise them to high heavens. But when we come across unassuming people who have made their billions by sheer graft and determination, we call them names. What a pity! And next we put all the blame for the sad state of the country on Yar Adua.

Jarus:

Before he even modified the topic, he claimed the entire Ibru business was built on stolen wealth, until facts were presented before him that Ibru empire had been existing far before Cecilia's Oceanic bank. Let's give credit to the Ibru family. They have done and are still contributing their own to our economy. The monopoly claim is most ironic. Their businesses are just like any other businesses. They are not even known for hobnobbing with the government like the Dangotes, Otedola,Jimoh Ibrahims and co.

JamesG:

Ibru company A, B, C, …Z may not exclusively be Monopolies in A, B, C, …Z business sectors.

But the Sum of Ibru Company A, B, C, …Z equates to Monopoly in the A, B, C, …Z business sectors, as a result of unmatched leveraging power – hence anti trust laws.

Dangota is guilty of the same – I will say Dangote has learned well from the Ibru Group. Microsoft Bill Gates tried the same in the US and UK, and was stopped.

babaearly:

the painful thing here is that Nairalanders will continue to post in this nonsense thread and you feel like you are pulling crowds, Local Champion.
Dont act like you are smart and you are an intellect when you sound foolishly.

what is the monopoly you are saying?
now tell me how Oceanic bank monopolized the banking sector?guardian newspaper? queens petroleum company? i bet there are other companies that are doing stronger than those Ibru companies in their respective sectors so do we still say they, the other companies, are in the monopoly agenda?

Dont worry you have become a local champion around here but sadly your thread is not gonna make the front page.