casualobserver:

You really are daft. I told you, if Ibrus are big players in the oil palm Industry I will know. The way I have responded to you about various matter s should tell you you are dealing with someone with more than just a passing knowledge of the oil palm industry. But like Mmesoma you don’t know when “this one pass you” Like I said evidence of Ibru $8b or get the fork out of my posts. You have no credibility until you can back up your $8b claim.

Just so you know as at the time Michael died FPH was dead because they could t meet their financial obligation to their South African partners , aero was in receivership and yet you claim the man had $8b at time of death.

The Ibrus are one of the biggest indigenous palm oil players in the country (if not the biggest). Apart from the foreign firms like Okomu, Please name other major indigenous players. For the fact that the Ibrus are even relevant in this obscure industry tells you how diversified and far reaching their investments are. You never knew they even had a large oil palm plantation, you thought they were maybe shareholders in Presco and Okomu Lmao.

As for the networth, I have pointed you to Wikipedia that stated $2.5B (and I am telling you again it's understated). You asked for proof on the internet before you believe that Michael is worth atleast a billion dollar. As for his true worth of over $8B - I can't provide that here as all that was private info back then. I am not saying it for you to believe it, and honestly I don't care what you believe...that's your problem. But I have atleast pointed you to a public proof that that stated $2.5B which shattered your $500m caricature figure. You saying the entire Ibru family is worth $500m is truly laughable and stinks of ignorance. You certainly don't have knowledge of their operations as you would like to think. If you are in the know about their web of complicated real estate holdings alone across the globe via shell companies (and Oteri Holdings) you wouldn't dare open your mouth and say that family is worth a meagre $500m. Your ignorance and arrogance is outstanding.

Aero went under receivership due to its bad debt to Oceanic (same Ibru company), and AMCON absolved it. Sun left in 2019 due to squabble in the family which led to poor performance coupled with the economic downturn. All these factors are considered when calculating net assets (asset minus liability). Same federal palace is doing considerably better now.

Hedonisco:


Haba. By the Ibrus I mean their kids na. How many first generation Ibrus are still alive? Is it Michael, Felix, or... Emm (what's his name) the one who owned Guardian and Sheraton?

So really. Who are the current "Ibrus"? Is it Oskar? Oboden? Obaro? Bet mind the smaller kiddos. They can't compete with the contemporary kids on the block.. Facts.

Lmao. You are clowning at this point. Do you even have the faintest idea of how wealthy Oskar Ibru is? I think you people are so taken by noise and who's the most visible. What contemporary new kids are you talking about? For the purpose of this thread, please name a few let's see how many of these your "so called" contemporary new kids are wealthier.

Hedonisco:


Abeg make I laugh. Even some top level yahoo boys would dust his azz in that same Dubai.

Generally I don't need to mention some heavy names but trust me, 'ordinary' Jowi, Captain Okunbor's heir, and many more will run Obaro out of own.

I came back to this comment cos I screenshoted and shared on my WhatsApp and the comments were absolutely hilarious.

FYI Obaro Ibru have been balling since birth. Baba is now about 50 and still living la vida da loca in UAE - 5 decades and counting...

But you are mentioning Fraud boys that just came into money maybe 2-5yrs ago that also blow their "lick" fast and go broke within a short time? They should try ballin for atleast 3 decades consecutively let's see how "long" and "solid" their money are. How long has Jowi and Osahon Okunbor been on the conspicuous lifestyle scene? Lmao.

The Ibrus are generally quiet people. The most conspicuous/reckless Ibrus were Obaro & Tive Ibru alongside their squad which consisted of other wealthy kids like Paddy & Jide Adenuga. But these people are now past 40yrs, some of them are now even married with kids. That youthful exuberance and energy is no longer there. Even the Adenuga boys left the scene and went low-key. Are you saying they went quiet because the Adenuga family lacks liquidity today? Tive Ibru was even cut off from the family finances due to his irresponsible & reckless lifestyle (he's a druggie).



PS: Captain Hosa Okunbor left behind about 11 kids (most of them are young), Osahon Okunbor will have to do a lot of work taking care of those kids, he's 36 now, let's see if he can maintain the money he inherited for another ten years.

casualobserver:

You really are daft. I told you, if Ibrus are big players in the oil palm Industry I will know. The way I have responded to you about various matter s should tell you you are dealing with someone with more than just a passing knowledge of the oil palm industry. But like Mmesoma you don’t know when “this one pass you” Like I said evidence of Ibru $8b or get the fork out of my posts. You have no credibility until you can back up your $8b claim.

Just so you know as at the time Michael died FPH was dead because they could t meet their financial obligation to their South African partners , aero was in receivership and yet you claim the man had $8b at time of death.

it's repulsive when when people are dumb and arrogant at the same time. You never knew POFON existed before this conversation neither did you know the Ibrus own a major palm plantation (they've been into palm oil production since late 60s), but you you are still errorneously telling me that "if the Ibrus are big players in the palm oil industry you would know". You know nothing. So in essence you are saying any palm oil plantation in Nigeria that doesn't have Okomu/ presco's size/output is not doing well. You are so incorrigible.

I leave this particular palm oil matter to other forum members.

Learnt new things from this thread...

Olaoluwa122:
Learnt new things from this thread...

Right!! We all learn everyday my bro 👍

ChidiKalu:
it's repulsive when when people are dumb and arrogant at the same time. You never knew POFON existed before this conversation neither did you know the Ibrus own a major palm plantation (they've been into palm oil production since late 60s), but you you are still errorneously telling me that "if the Ibrus are big players in the palm oil industry you would know". You know nothing. So in essence you are saying any palm oil plantation in Nigeria that doesn't have Okomu/ presco's size/output is not doing well. You are so incorrigible.

I leave this particular palm oil matter to other forum members.

The listed companies below are all POFON members with large palm oil estates. People are quitely making billions from palm oil production but keep arguing here when it's very clear that you have no extensive knowledge of the Sector. Everything you know about Palm oil sector in Nigeria starts and ends with Presco, Okomu, and Wilmar.

ChidiKalu:
this is very correct. I think they operate bussinesses in industries that don't have that fancy media fanfare. The palm oil industry for example, they make insane money from palm oil production and exportation.

One of the Ibrus is the head of all major palm oil producers in Nigeria (including Okomu and Presco). I can't remember the man's name now...but he's rich rich.

Re: His name is Otunba Emmanuel Ibru. Very silent and unassuming agro-billionaire. Exports Agro products to Holland and Brazil mostly.

casualobserver:


Old money does not shout. The Ibru’s own the whole of ilashe beach, guardian newspapers, Sheraton, federal palace hotel amongst many other businesses.

Forget the Ibru’s they are not your mate. They are one of the few old money families that still have money. Particularly Micheal Ibru’s descendants.

they own aero contractor, oceanic bank then, guardian newspaper, they own that humongous oil depot at olodi apapa before tin can, federal palace hotel, and one oil company like that. They were the richest family in Nigeria those days. Abiola was a small boy to them those days

Enice:
they own aero contractor, oceanic bank then, guardian newspaper, they own that humongous oil depot at olodi apapa before tin can, federal palace hotel, and one oil company like that. They were the richest family in Nigeria those days. Abiola was a small boy to them those days

They were rich and like I said they are one of the few old money families that are still rich but let’s not exaggerate this thing like we tend to do as Nigerians. There were many families comparable or richer than the Ibru’s. Mai deribe of Borno, the Dantatas, Dehinde Fernandez, Henry Fajemirokun, Bode Akindele to mention just a few. Abiola was a govt contractor. Most of his businesses ventures were failures be it concord airlines, wonderbread, Abiola bookshop, Abiola farms. Abiola was the definition of rent seeker.

casualobserver:


They were rich and like I said they are one of the few old money families that are still rich but let’s not exaggerate this thing like we tend to do as Nigerians. There were many families comparable or richer than the Ibru’s. Mai deribe of Borno, the Dantatas, Dehinde Fernandez, Henry Fajemirokun, Bode Akindele to mention just a few. Abiola was a govt contractor. Most of his businesses ventures were failures be it concord airlines, wonderbread, Abiola bookshop, Abiola farms. Abiola was the definition of rent seeker.

These men were super wealthy. They were contemporaries of Olorogun Michael Ibru. But Nobody you mentioned above was wealthier than the Ibru family as a collective. You could make a case for the Dantata family (perhaps) being wealthier than the Ibrus (it's debatable depending on who you ask). It's a known fact that the Ibrus were the wealthiest family in Nigeria for a very long time. Not sure about now but they are definitely top 3-5.

The advantage the Ibru family had/has over other families is that the Ist generation
Ibru brothers all made money and were prominent (Michael, Felix, Goodie, Alex), it's a dynasty. None of those people you mentioned above can boast of this.

Enice:
they own aero contractor, oceanic bank then, guardian newspaper, they own that humongous oil depot at olodi apapa before tin can, federal palace hotel, and one oil company like that. They were the richest family in Nigeria those days. Abiola was a small boy to them those days

Let me go further and say they own/co-own/have significant stake in the following companies:

Total Nigeria Plc. NDEP Plc. Midwestern Oil and Gas Ltd, Ecobank parent company, Ibafon Oil Limited, etc.

They have considerable shipping operations across the globe (oil & Gas particularly), and there's also the fishing bussiness, etc.

Federal palace and Sheraton is always talked about but do you know the Ibrus own one very plush & exclusive resort in Aburi, Ghana? Few days ago, Oskar Ibru was hosted by the Ghanian president at the presidential villa in relation to some project he's got planned in Ghana. No media PR, No fanfare. Just a silent generational wealthy family maintaining their coins.

Their holdings alone in the UK run into tens of millions of dollars (the family is highly rated in London). But someone here is erroneously telling me that the Ibrus are worth $500m at best. SMH

ChidiKalu:
These men were super wealthy. They were contemporaries of Olorogun Michael Ibru. But Nobody you mentioned above was wealthier than the Ibru family as a collective. You could make a case for the Dantata family (perhaps) being wealthier than the Ibrus (it's debatable depending on who you ask). It's a known fact that the Ibrus were the wealthiest family in Nigeria for a very long time. Not sure about now but they are definitely top 3-5.

The advantage the Ibru family had/has over other families is that the Ist generation
Ibru brothers all made money and were prominent (Michael, Felix, Goodie, Alex), it's a dynasty. None of those people you mentioned above can boast of this.

My friend can you not see I have been ignoring you. I am not even reading your messages, this is he only one I partially read. I told you to provide the evidence Michael ibru was worth $8b as you claimed when he died. We all know that federal place hotel was insolvent when he died. It had debts of 17b and assets if N10b. As at that time they had given away 49% to an investor who later pulled out of the deal. The days of federal pace and Sheraton are over, when last did you hear of Sheraton or FPH except for the balmoral hall as a venue for weddings and parties? Nobody lodges at Federal place or Sheraton anymore.

I repeat don’t respond to me unless you have evidence of this $8b wealth or you are ready to admit you made it up or just hearsay. You are just talking out of hearsay and bear parkour Geist. The real rich ibru was Michael, Felix was just a normal average rich Nigerian who was probably not worth more than $10m when he died if that. Same with Alex. I am not so sure about Godiie but I know 100% feleix and Alex were not super wealthy as at the time they died or ever. Ibru is Michael, the others lived off the name and while they were millionaires were nowhere near Michael…not even close.

I advice you to find something doing with your life instead of obsessing about other people’s wealth or lack of. I am done with you.

casualobserver:


My friend can you not see I have been ignoring you. I am not even reading your messages, this is he only one I partially read. I told you to provide the evidence Michael ibru was worth $8b as you claimed when he died. We all know that federal place hotel was insolvent when he died. It had debts of 17b and assets if N10b. As at that time they had given away 49% to an investor who later pulled out of the deal. The days of federal pace and Sheraton are over, when last did you hear of Sheraton or FPH except for the balmoral hall as a venue for weddings and parties? Nobody lodges at Federal place or Sheraton anymore.

I repeat don’t respond to me unless you have evidence of this $8b wealth or you are ready to admit you made it up or just hearsay. You are just talking out of hearsay and bear parkour Geist. The real rich ibru was Michael, Felix was just a normal average rich Nigerian who was probably not worth more than $10m when he died if that. Same with Alex. I am not so sure about Godiie but I know 100% feleix and Alex were not super wealthy as at the time they died or ever. Ibru is Michael, the others lived off the name and while they were millionaires were nowhere near Michael…not even close.

I advice you to find something doing with your life instead of obsessing about other people’s wealth or lack of. I am done with you.

Such clownery. I am not responding to you because I want to converse with you, I am only responding to you cos I need to always set you straight so you Don't keep making erroneous statements for the sake of other readers on this thread. And I am sure you realize you made a caricature of yourself per the palm oil sector talk.

As for the over $8B networth of Olorogun, I have stated here that was private info. I don't expect you to believe the figure...that's absolutely your problem. But then again, you asked me to provide proof that Olorogun was worth even $2B at the time of his death, and I have directed you to Wikipedia since you needed to see it on the internet to believe it.

Saying Alex and Felix were worth at best $10m as at the time of their death is another unquantifiable foolery. Alex's wife, The lady Maiden Alex Ibru is even worth much more than that. But I digress, point is; Felix and Alex were prominent and notable, and the other super wealthy folks you mentioned earlier can't boast of having rich/prominent brothers/sisters in their ranks. That's one thing that sets the Ibru family apart. It's the reason the family is hailed as a dynasty. The Adelekes are now almost replicating what the Ibrus did in the 60s,70s, 80s & 90s (Isiaka, Deji and Ademola).

It's also very laughable that Forbes it's the only source you trust on African wealth. Forbes that only started estimating African/Nigerian wealth in 2009. It's no wonder you lot are absolutely misled. How many times has Forbes' credibility been battered?

Tunde Folawiyo said one time that as wealthy as his father was, his dad (Wahab), said on an occasion that Olorogun was just too filthy filthy wealthy, obviously admitting Olorogun was wealthier than him (the man said it in Yoruba for effect). Tunde said his father ordinarily didn't dish out compliments, but for his father to speak of Michael in such manner shaped his knowledge of how wealthy Olorogun truly was.

Aside Alhassan Dantata, none of those you listed above was richer than Olorogun, and Dantata's is even debatable cos they lived in different eras and there is no known verifiable networth in public domain for both men. Some of these men were just more flamboyant (in the case of Deinde Fernandez), but they were not richer. Comparable, yes. If you tell me Sir Louis Ojukwu was richer than Olorogun Michael Ibru, then I would absolutely agree.

A lot of people today would tell you Otedola is richer than Rabiu, and that would have been absolutely undebatable if there was no Forbes list to settle the argument. That's the power of PR, flamboyance, and being in the spotlight. it puts you above your true worth. The Otedola/Elumelu name is more synonyms with wealth in Nigeria compared to Rabiu, but Rabiu is outrageously wealthier. Now imagine for a second that Rabiu and his team never granted Forbes access to estimate his wealth or that he wasn't interested in being on Forbes list in the first place. Then the man (Rabiu) would have remained an "unofficial/unverified" dollar billionaire, and everyone would have gone on thinking Femi Otedola is wealthier because his name (Otedola) is everywhere. If Forbes doesn't have extensive knowledge of your bussiness concerns or access to you...they can't
estimate your wealth or rank you on Forbes list. I will drop a screenshot below in relation to this.

Granted, you know & admit the Ibrus are wealthy, but the thing is, you don't know the true extent of their wealth or operations (especially during their mighty days). It's private wealth.


And oh!! I always will continually obsess over Olorogun Michael Ibru with my full chest. The man is a legend, legacy entrepreneur, and a true historical African patriarch who built a proud dynasty.

The Ibrus were very powerful during the military eras. One was known as Alex while the other was Michael. Mike's wife was Cecilia, who owned and managed Oceanic Bank. The family also owned Oceanic Oil and Ibru depot where refined oil was offloaded. The depot is situated between coconut bus stop and mile 2. The family never owned Lagos, but together with Ogboru, commanded alot of respect then.

ChidiKalu:
Such clownery. I am not responding to you because I want to converse with you, I am only responding to you cos I need to always set you straight so you Don't keep making erroneous statements for the sake of other readers on this thread. And I am sure you realize you made a caricature of yourself per the palm oil sector talk.

As for the over $8B networth of Olorogun, I have stated here that was private info. I don't expect you to believe the figure...that's absolutely your problem. But then again, you asked me to provide proof that Olorogun was worth even $2B at the time of his death, and I have directed you to Wikipedia since you needed to see it on the internet to believe it.

It's also very laughable that Forbes it's the only source you trust on African wealth. It's no wonder you lot are absolutely misled. Swallowing everything on the internet hook, line, and sinker. How many times has Forbes' credibility been battered?


And oh!! I always will continually obsess over Olorogun Michael Ibru. The man is a legend, legacy entrepreneur, and a true historical African patriarch who built a proud dynasty. A motivation even in death.

For the sake of this thread, I surfed the net hoping to find something related to the networth I mentioned but nothing substantial came up, which is understandable, cos it wasn't public. I stumbled upon some supporting stuffs though...

Pic 1 - is someone else supporting my earlier position on Olorogun's true networth from 2020. I guess she was privy to some court records (perhaps she's a lawyer).

Pic 2 & 3 - is an asset management guy with Citi from 2016.

Pic 4 - is just some casual discussion on the Ibrus from 2yrs ago.


Again, nothing substantial, but this gives one a passing idea of what I was saying earlier. I am sure of what I know and I don't need to break confidentiality to prove a point on the internet. But one thing is certain, you are not a finance guy, neither have you worked in IB/AM, so I
would understand Forbes being your only go-to source for wealth estimation. Like I stated earlier, Forbes usually doesn't have access to some private wealth. Some people shut them out.


Nevertheless, the $2.5B networth in public domain puts your $250m-$500m estimation to shame.

Dest8sman:
The Ibrus were very powerful during the military eras. One was known as Alex while the other was Michael. Mike's wife was Cecilia, who owned and managed Oceanic Bank. The family also owned Oceanic Oil and Ibru depot where refined oil was offloaded. The depot is situated between coconut bus stop and mile 2. The family never owned Lagos, but together with Ogboru, commanded alot of respect then.

Good point man. Although Cecilia wasn't the owner of Oceanic bank. It was Chief's bank. She was only put in charge in 1997. Did quite a fine job growing the bank until she ran it aground.

The casualobserver guy is here yapping about dangote's wealth when in fact Dangote's bad loans was one of the things that killed oceanic.

Dangote is a govt bussinessman. He wouldn't have survived in the era of true entrepreneurs like Ibru, Akindele, Dantata, Folawiyo, Fajemirokun, Odutola, Ojukwu, etc.

casualobserver:


Dunlop is dead. I don’t know if they had any interest in Dunlop but Dunlop left Nigeria decades ago. I dont know what became of the rubber plantations. As for Presco and Okomu. Nothing to do with the Ibru’s. If they have any shares they are minor shareholders. Both companies are majority owned by foreign companies and in the case of Okomu the largest Nigerian shareholder by far is Gbenga Oyebode.

As for a comment you made somewhere about comparisons to Dangote…..no way. The Ibru’s are rich and might have been worth close to a billion dollars or more in the ‘80s but I very much doubt the wealth is up to $500m today and I am being generous. I won’t be surprised if it’s only half. A lot of the wealth of old Nigerian money was destroyed by the devaluation of the Naira over the years. We disrespect $1b in this country. There are very few people in this country that are worth $200m talk less $1b. Probably less than 500.

Nigeria does not have 20 legitimate dollar billionaires quiet or no quiet. Even Elumelu that people shout billionaire is not a billionaire. Hiis major assets are uba and transcorp check his shareholding and the market cap

Didn't catch the last part of your comment before now. Yes, 20 dollar billionaires is over reaching...not sure we have more than 5 (unofficially). But officially, we have only three dollar billionaires in Nigeria (Dangote, Adenuga & Rabiu), according to your darling Forbes.

casualobserver:


Are you not the fool that said “ When Olorogun Michael Ibru died in 2016, legal/court documents showed he left over $8B in assets and cash behind...and that's just one Ibru.”.

We’re Dangote, Adenuga and the Oil woman shares in the public domain when Forbes declared them billionaires?

You lawyer, asset management! Comedian keep deceiving yourself. You are lucky this is the internet where anyone can assume any persona. Since we are playing fantasy career why not claim to be chairman of Goldman Sachs….idiot! You know a fake GM an on the internet when he starts to tell you I am this I am that. If you really know what you are talking about, the accuracy, legitimacy and facts in your post will speak for you. You are clearly a wannabe. You know where you gave yourself away and I knew for certain I was dealing with a quack? When you mentioned Presco and Okomu as well as claiming Ibru was worth $8b. You clearly have no idea of what $1b is talk less of $8.


Idiot!


In fact the more I think about it the more I am certain the entire Ibru family is not worth $500m.

Apparently someone here went ahead to ask the Citibank asset management guy about Olorogun lmao.

Pic 1 is his response.

Pic 2, 3 & 4 is a court case in the US i came across last night btw two children of Olorogun. Both of them were contesting assets worth about $2B under Janet Ibru's control.

I wish I could present more substantiated & unequivocal proof, but anyone with an atom of sense knows that not every "info" is in the public domain. But I would be right by saying few stuffs I have provided here atleast supports the fact that Olorogun was actually worth billions of dollars.

Tunde Folawiyo was worth $650m when he was rated by Forbes in 2014. That same year, Forbes rated the top-ten leading family bussinesses in Africa, and only the Ibru Organization and the Dantata organization made the list from Nigeria. In essence, you are implying that Tunde with a networth of $650m is richer than the Ibru family? Yet the Folawiyo family bussiness didn't make the list of leading family businesses in Africa? Biggest clownery. Anyone with even a little bit of brains would make a mockery of you (especially someone in AM/IB). Even Tunde would laugh at you...Cos the Folawiyo Group is comparable to the Ibru Organization but it's not so close (be it in sheer scope of it's operations, diversification game, or net assets). Same way the Dantata organization outranks the Folawiyo Group, yet Aminu Dantata, head of the Dantata family & Dantata organization, has never been ranked by Forbes. But you could as well tell me that the Dantata family is not worth $500m today. Mteew



My final remark on this is that you, casual observer, are a very loud, uncouth, ignorant and arrogant guy. I advise you not to hold strong positions on topics you have no extensive knowledge on, otherwise you make a fool of yourself in the long run (like you especially did with the palm oil sector talk).

PS: the federal palace you've been yapping about it's losses is not controlled by Michael Ibru's lineage. That establishment is under the Goodie/Alex Lineage.

Chidikalu thank you.

WhizdomXX:
Chidikalu thank you.

You are welcome chief.

ChidiKalu:
Apparently someone here went ahead to ask the Citibank asset management guy about Olorogun lmao.

Pic 1 is his response.

Pic 2, 3 & 4 is a court case in the US i came across last night btw two children of Olorogun. Both of them were contesting assets worth about $2B under Janet Ibru's control.

I wish I could present more substantiated & unequivocal proof, but anyone with an atom of sense knows that not every "info" is in the public domain. But I would be right by saying few stuffs I have provided here atleast supports the fact that Olorogun was actually worth billions of dollars.

Tunde Folawiyo was worth $650m when he was rated by Forbes in 2014. That same year, Forbes rated the top-ten leading family bussinesses in Africa, and only the Ibru Organization and the Dantata organization made the list from Nigeria. In essence, you are implying that Tunde is richer than the Ibru family? Biggest clownery. Anyone with even a little bit of brains would make a mockery of you (especially someone in AM/IB). Even Tunde would laugh at you...Cos the Folawiyo Group is comparable to the Ibru Organization but it's not so close (be it in sheer scope of it's operations, diversification game, or net assets).



My final remark on this is that you, casual observer, are a very loud, uncouth, ignorant and arrogant guy. I advise you not to hold strong positions on topics you have no extensive knowledge on, otherwise you make a fool of yourself in the long run.

PS: the federal palace you've been yapping about it's losses is not controlled by Michael Ibru line. That establishment is under the Goodie/Alex Line.

Again, I could concede that the Ibru family is "presently" not worth more than Dangote (which is the genesis of this whole conversation). Dangote's net assets stands at $12B-$15B.

But arguing confidently that the Ibru family is not worth atleast $2B-$5B today, and placing their networth at a meagre $500m, is pure cruise & bottom barrel clownery from you. You need to wash your hands off this topic like Pontius Pilate did with the Jesus' case cos you clearly lack the facts of the matter.

I truly believe the Ibru family needs to tell the Olorogun Michael Ibru story more. Put out more info in the public domain. A lot is really lost in history. They are too quiet.

Fun fact: The acres of land the national theatre sits on in surulere is owned by the Ibru family. I think it's structured as a JV or so. Not sure about the exact details.

casualobserver:


Old money does not shout. The Ibru’s own the whole of ilashe beach, guardian newspapers, Sheraton, federal palace hotel amongst many other businesses.

Forget the Ibru’s they are not your mate. They are one of the few old money families that still have money. Particularly Micheal Ibru’s descendants.

Hmm!! Ibru family owns the whole of Ilashe beach? I no sure abt this one oh, but this is definitely news to me.

FSBoperator:


Several rubber, palm and Timber plantations in Delta state as well.

I believe they also own huge shares of Dunlop as well.

Correct. They are quite active in the agro industry. They own one of the largest poultries I have ever seen.

ChidiKalu:
Yes, The Ibru family is extremely wealthy and connected. I think the family "collectively" is wealthier than Dangote. They've got investments/assets in almost every important sector of the economy. The Ibru port complex alone is a multi-billion money spinner.

PS: The Adelekes are non-factor here. They don't have it like that. It's OBO that gave them that wealth PR. There are wealthier Yoruba families.

They are wealthy, connected and respected, Dem get wealth pass Adeleke family by far, but Dem no hold bar pass Alhaji Dangote "presently" oh.

KunleMax:
Hmm!! Ibru family owns the whole of Ilashe beach? I no sure abt this one oh, but this is definitely news to me.

The matter is probably subject to litigation or maybe it has been settled against him but one of the brothers once owned it, or bought it, when it was a worthless piece of land, of that I am sure.

The plan was to turn it into a resort.

casualobserver:


The matter is probably subject to litigation or maybe it has been settled against him but one of the brothers once owned it, or bought it, when it was a worthless piece of land, of that I am sure.

The plan was to turn it into a resort.

If an Ibru owned/own it, na big man Michael be that. Baba almost bought everywhere.

ChidiKalu:
They owned Oceanic bank (although I think they still own some shares in Ecobank presently).

Lol. I wouldn't blame her if she hasn't heard of the Ibru family before now. I think they are wealthy and low-key. The family owns some popular bussinesses that a lot of people don't even know they own. Little or no media coverage. Proper old money behavior.

I read on an international bussiness magazine that they retained 10% ownership of Ecobank holdCo. Don't know how accurate that percentage is but I know say Dem still get shares for Ecobank.

NB: They owned 30%-40% of oceanic bank.

ChidiKalu:
Lmao. "Owning" Lagos is the wrong word to use. Nobody owns Lagos.

But the Ibru dynasty was instrumental in the development of Lagos along with other notable folks.

Very silly wording. The Ibrus are not from Eko neither are they Yorubas. So how Dem want take own Lagos? Mteew.

But yeah!! Dem be major stakeholders for Eko and Naija.

Hedonisco:


Even Tunde Folawiyo alone is wealthier than the Adelekes. But he is dead silent.

That said, it is ridiculous to say that the Ibrus are wealthier than Dangote. Not anywhere close to close. Forget old name. In fact, a lot of the new kids on the block with access to new money schemes (related or unrelated to government funds) would casually put the Ibrus to shame when it is a matter of cash. Even their previously conspicuously extravagant children (Obaro and Co) have been forced into hiding because they simply lack contemporary liquidity and can no longer compete!

I commented on this earlier about the Ibrus not being richer than Dangote "presently". Bad economy over decades
& indeed Devaluation affected them, but they sha also offshored wealth too & Dem dey diversified.

But Obaro forced into hiding cos he lacks contemporary liquidity? 😂😂 Ahh!! Nooo oh. No talk am. Besides, na Obaro be the only really flamboyant & conspicuous Ibru that year sef. Irresponsible guy!!

casualobserver:


Dunlop is dead. I don’t know if they had any interest in Dunlop but Dunlop left Nigeria decades ago. I dont know what became of the rubber plantations. As for Presco and Okomu. Nothing to do with the Ibru’s. If they have any shares they are minor shareholders. Both companies are majority owned by foreign companies and in the case of Okomu the largest Nigerian shareholder by far is Gbenga Oyebode.

As for a comment you made somewhere about comparisons to Dangote…..no way. The Ibru’s are rich and might have been worth close to a billion dollars or more in the ‘80s but I very much doubt the wealth is up to $500m today and I am being generous. I won’t be surprised if it’s only half. A lot of the wealth of old Nigerian money was destroyed by the devaluation of the Naira over the years. We disrespect $1b in this country. There are very few people in this country that are worth $200m talk less $1b. Probably less than 500.

Nigeria does not have 20 legitimate dollar billionaires quiet or no quiet. Even Elumelu that people shout billionaire is not a billionaire. Hiis major assets are uba and transcorp check his shareholding and the market cap

"might have been worth a billion dollars or more in the 80s". Might?

With the way you talked about the Ibrus owning Ilashe beach, I think say you really Sabi them oh Or close to them.

The Ibru family is/was a multi-billion dollar family. It's not even a question of "might".

KunleMax:
If an Ibru owned/own it, na big man Michael be that. Baba almost bought everywhere.

It wasn’t Michael