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Nairaland Forum / Nairaland / General / Investment / Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover (47523 Views)
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Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by adecz: 1:58pm On Oct 22, 2021 |
Only N30bn or $50m to become biggest shareholder in a bank like First Bank. Does biggest shareholder make him a controlling shareholder❓☹️ |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by BluntNigerian: 2:08pm On Oct 22, 2021 |
adolfHitler1934:I am poor.. I accept. Now that she is the richest Djay in Nigeria, can you tell me the Net-Worth of her Djay business?? .. Since you want to tow the line of Rich-And-Poor.. .. I AM WAITING FOR YOUR POVERTY-STRICKEN RESPONSE |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by BluntNigerian: 2:11pm On Oct 22, 2021 |
adecz:YESS.. If you're a shareholder in a company, even if your share is not up to 1% of the total shares, you're a part of the owners of the company. You're free to attend the board meetings and Annual General Meetings if you like. 1 Like |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by peacenaija(m): 2:23pm On Oct 22, 2021 |
wallrichy: I confirm jare |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by peacenaija(m): 2:25pm On Oct 22, 2021 |
adecz: Go and read IFRS 10 and see where you can have less than 50% of shares and still have the controlling power |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Drunet: 2:36pm On Oct 22, 2021 |
Nice move |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by sonofElElyon: 2:48pm On Oct 22, 2021 |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by bakila: 2:49pm On Oct 22, 2021 |
Elsueno:That is a must and surely too. 1 Like |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by sonofElElyon: 2:50pm On Oct 22, 2021 |
Oracleforce: Someone who spends N30b to acquire controlling shares of first bank is broke right |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Nobody: 3:10pm On Oct 22, 2021 |
Oga Forte$ wants to buy plenty ULCC(Ultra Large Crude Carrier) be that, biko make e try remind Alhaji to make dreams come true o...... he would understand.... but I hope Forte$ can stand the fraud going on in the banking sector this days, this guys are now advance o.... may be you turn it to a Merchant Bank and have peace of mind. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by APCNig: 3:14pm On Oct 22, 2021 |
Maxwell4404: Another one is a Tailor and another is a clown musician. Aren't you suspecting Rituals? |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Benwallt(m): 3:17pm On Oct 22, 2021 |
Grace001:That's wickedness. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by adolfHitler1934: 3:18pm On Oct 22, 2021 |
BluntNigerian:Your hate for someone who doesn't even know if you're existing will kee you. Go and make money for your family and stop trolling and hating. With your envy and hate,I pray you don't........
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Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Gerrard59(m): 3:40pm On Oct 22, 2021 |
georgeakins: You people lie brazenly and it sucks! One of the coup plotters, Adewale Ademoyega, a Yoruba man said: " There was no decision at our meeting to single out any ethnic group for elimination. Our intentions were honourable, our views were national and our goals were idealistic. Even those earmarked for arrest, four were northerners, two were Westerners and two were Easterners." 3 Likes 2 Shares |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by omoyankee3(m): 3:44pm On Oct 22, 2021 |
Money moves |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by airsaylongcome: 3:55pm On Oct 22, 2021 |
adelaja70: Sir Michael Otedola. Governor against all-odds. Beht make una Yoruba people stop to they assume many nonsense. Not all non-Yoruba southern Nigerians are ndi-Igbo. So since Sir Michael was a millionaire how does that change the postulation that his son isn't a front for leaders looting our commonwealth? |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by adelaja70(m): 3:58pm On Oct 22, 2021 |
airsaylongcome:Present your evidence please... I'm above DEM SAY DEM SAY. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Freelancer2020(m): 4:41pm On Oct 22, 2021 |
enumerica: Watsapp -09083503564 |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Move2(m): 5:11pm On Oct 22, 2021 |
In my opinion, I think we all should be concerned about the happenings in First bank given it's systemic importance to the economy. But also rather than arguing with ourselves, we should be looking at how the super rich control the stock market. Years ago, this same Otedola fought with Dangote over the manipulation of AP shares in court. Now he has been able to buy up this holding. Why is he interested especially in this bank? Is it related to what happened earlier this year? What would be the effect of this on the banking system? These are some of the issues I feel we should be analyzing, not fighting ourselves. The elite have a way of getting us to talk about them while they don't care about we the people. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by koning: 5:23pm On Oct 22, 2021 |
Freethinker87: Your analysis sounds great on face value. But as at today First Bank share closed at $0.02 a share. Less than 1 dollar cent. But that does not remove anything from the fact that FBN is a solid, well capitalized bank for Nigeria and African standards. The daily price of it's share means nothing to the common customers. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Freethinker87: 6:14pm On Oct 22, 2021 |
koning: I'll be very embarrassed if my company's share is still a penny stock after 129 years of operation. A share trading over the counter at 2 cents a share cannot be categorized as healthy by any standard even in Africa. Same FBNH traded at 20 cents a share 10 years ago. Speaking of bank capitalization, 10 years ago, under the then CBN Governor Sanusi Lamido, our National banks were capitalized at N25B at N132 per dollar, that is our banks were capped at $189M. Well, today that N25B is now worth only $45M. These banks are now capped lower than they were 10 years ago. I don't need to be a financial analyst to know that devaluation and cashflow problem necessitated the need for additional capital injection from Otedola. No sir, FBNH is far from healthy and common customers like myself should be very worried. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by emmanuelewumi(m): 6:42pm On Oct 22, 2021 |
Freethinker87: Otedola did not inject capital into First Bank, additional shares were not created. Some core investors sold their holdings and he bought. First Bank is still solid, Naira deposits is about N3 Trillion. Dollar deposits in the bank is almost $1 billion, shareholders fund is almost N600 billion. Nigerian banks are dirt cheap, if you know you know 1 Like |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Jostoman: 6:43pm On Oct 22, 2021 |
zigzagluv:see them bad belle people |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by shegz24(m): 7:30pm On Oct 22, 2021 |
I was surprised when he sold Forte Oil but now it all makes sense. Nice onr bruv, watch your back though; I'm coming. 1 Like |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Nobody: 7:31pm On Oct 22, 2021 |
Oracleforce: Ibukun was chairman - a proxy director for a major shareholder by name of Otudeko; Otedola is a major shareholder. Know the difference. 1 Like |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by emmanuelewumi(m): 7:37pm On Oct 22, 2021 |
shegz24: He cashed out big time. The person who bought the Forte Oil, over paid for it na money miss road 1 Like |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by Iamsofavoured(m): 8:06pm On Oct 22, 2021 |
Gangster acquisition. Someone who refused to pay back loans till Amcon took over, only to turn around and buy his Creditor. aspabay: |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by suffering: 8:21pm On Oct 22, 2021 |
We’ll find out later he’s a major debtor. Na our ‘billionaires’ way. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by jeronimo(m): 10:51pm On Oct 23, 2021 |
Gerrard59: It doesn't have to state the percentage for anyone to understand what it means. See, he even owns about 5% sef. |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by MainFieldautos: 10:59pm On Oct 23, 2021 |
Freelancer2020: Am interested |
Re: Femi Otedola Becomes First Banks's Largest Shareholder, To Takeover by zomby(m): 6:18pm On Oct 24, 2021 |
zomby: https://www.thisdaylive.com/index.php/2021/10/24/otedola-adenuga-hassan-odukales-otudeko-in-battle-to-control-first-bank/ |
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