Yankee101:


Intercontinental bank collapse has nothing to do with the 2008 stock market crash

And the 2008 stock market crash was about subprime mortgages

Nigeria didn’t have any deep derivative market or even a significant mortgage portfolio.

Lastly, Nigerian banks collapsing was a process that began pre 2008

Try again

Go and read seminar papers released by SLS, then you will understand how the stock market crash of 2008 affected banks. Focus more on mal-feasances of bank directors on the floor of NSE and impact on their own bank shares.

Ever heard of burble-burst?....

JoshTim:


Go and read seminar papers released by SLS, then you will understand how the stock market crash of 2008 affected banks. Focus more on mal-feasances of bank directors on the floor of NSE and impact on their own bank shares.

Ever heard of burble-burst?....

I was a participant I don’t have to read what SLS wrote

I’m not answering you from any google search

ZaRuleOfLaw:

Please name the north central guy

Saraki


Access Bank that Bought Intercontinental Bank was fronting for Politicians

Otherwise how could a Mosquito swallow an Elephant

Yankee101:


I was a participant I don’t have to read what SLS wrote

I’m not answering you from any google search

So, if you were a participant, let me ask, did bank directors took loans, took it to the exchange, bought their shares(some through proxies) in attempts to push their stock prices up?

If yes, your earlier stand was wrong. There is huge nexus between the Nigerian Stock Market and reasons why Nigerian banks failed. And also, there is a huge nexus between the economic melt down of 2008/2009 and the stock market crash of 2008/2009. When the economic melt down happened, the bubble burst and no amount of money could ever be enough to push the stock prices up.

Remember what I first told you?

You have some facts but peppered with plenty inaccuracies

Intercontinental, Oceanic etc were not brought down because the market crashed in the United States and neither was the impact significant on the Nigerian stock market

JoshTim:


So, if you were a participant, let me ask, did bank directors took loans, took it to the exchange, bought their shares(some through proxies) in attempts to push their stock prices up?

If yes, your earlier stand was wrong. There is huge nexus between the Nigerian Stock Market and reasons why Nigerian banks failed. And also, there is a huge nexus between the economic melt down of 2008/2009 and the stock market crash of 2008/2009. When the economic melt down happened, the bubble burst and no amount of money could ever be enough to push the stock prices up.

Yankee101:
Remember what I first told you?

You have some facts but peppered with plenty inaccuracies

Intercontinental, Oceanic etc were not brought down because the market crashed in the United States and neither was the impact significant on the Nigerian stock market

Lol... continue to wallow in mis-information. The banks on their own had bad debts, alot of it, and were not making alot of profit as reported as at then due to window dressing, reason for ifrs 9 adoption in Nigeria.

Now, what banks did was artificially creating unreal demands for their stocks, thus pushing up the price....this is the burble.

Global economic melt down which started in the US as a result of crash of housing mortgage/us banks dealing in mortgage affected Nigerian Stock Exchange and ofcourse, the burble burst. Get your facts right. I was an investment analyst. Go and read about sls presentation papers.

You’re still not getting it
Imagine if I asked you in 20 years what happened between Fubura and Wike and you’re telling me to go and look at the writings of Wike to get the facts
If you call yourself an analyst then more research from various sources behooves you

Once more it has nothing to do with the stock markets

JoshTim:


Lol... continue to wallow in mis-information. The banks on their own had bad debts, alot of it, and were not making alot of profit as reported as at then due to window dressing, reason for ifrs 9 adoption in Nigeria.

Now, what banks did was artificially creating unreal demands for their stocks, thus pushing up the price....this is the burble.

Global economic melt down which started in the US as a result of crash of housing mortgage/us banks dealing in mortgage affected Nigerian Stock Exchange and ofcourse, the burble burst. Get your facts right. I was an investment analyst. Go and read about sls presentation papers.

Yankee101:
You’re still not getting it
Imagine if I asked you in 20 years what happened between Fubura and Wike and you’re telling me to go and look at the writings of Wike to get the facts
If you call yourself an analyst then more research from various sources behooves you

Once more it has nothing to do with the stock markets

I rest my case. You know nothing about these nexuses

The moment news of Herbert Wigwe death broke I just said alot of laundered monies are gone in flames, because James Ibori was the first to mourn him, if you know, you know!!!

Blakjewelry:
Na so weak ecobank take buy strong oceanic bank, now ecobank can't even hold to the branches na to dey close shop up and down.

aswear.

JoshTim:


I rest my case. You know nothing about these nexuses

You can't rest your case because you are pulling out and feeding the public with a false narrative, the 2008 global economic melt down was mainly visible in the USA and some few countries and Nigeria was never among not to talk about Access Bank...It was called a global economic melt down because the USA has the largest economy on earth. I know tomorrow that you will also tell people that Nigeria was a hard hit country that suffered real casualties from COVID-19 pandemic...One thing with Nigeria is that the government is quick to copy any global trend if only it can grease their palms, the other day government said that Ukraine war is affecting the economy of Nigeria, I just laughed. Nigeria is the homebase of scam.

I really enjoyed this thread. Very informative. I've been a poor student of Nigeria economic history. Sometimes, it's not good to have a rich dad then you are on your own.

This theory has always been in my head

Access Bank acquisition of Intercontinnental Bank is a Hostile Takeover

Pharaoh4rin:
I really enjoyed this thread. Very informative. I've been a poor student of Nigeria economic history. Sometimes, it's not good to have a rich dad then you are on your own.

Read the other two threads I posted on this Intercontinental Bank saga. Check my profile, or check the front page for "Wigwe University" and see my second comment.

donproject2:
This is how it happens in every sector, betrayal, business heist. Everyone is just trying to get to the top of the ladder, by all possible means.

Recapitalization under Obasanjo brought tears to some, laughter to others. It is about who knows who and who knows the rule of the game but doesn't follow it. Small business buying big ones, you will wonder how on earth is that possible, in Nigeria's crime, that is in fact order of the day.

It's good to the customers those periods you entered banks no cash to withdraw, you have to wait for others to deposit cash before you can get cash.every tom, dick and harry open bank then

o123456789:
You can't rest your case because you are pulling out and feeding the public with a false narrative, the 2008 global economic melt down was mainly visible in the USA and some few countries and

Lol, i laugh you bro. this is what broke the camel's back....i leave you to your ignorance. Oga, go and sit down. We no dey talk akara story here.

Kloenboi:


From the picture you posted...

Raymond C. Obieri stated that he established intercontinental Bank !

What I saw was "We". I don't know where you saw "he" or "I"

Sanusi Lamido Sanusi actually had personal issues with Dr Erastus Akingbola and Madam Cecilia Ibru. He actually deliberately destroyed Intercontinental Bank and Oceanic Bank. All his ( SLS) evil deeds against those people and banks will be exposed and and all his partners in crime will be openly put to book and suffer for their ignoble acts.

BitterTruth01:
Yoruba man don come here to rewrite history as usual to cast aspersions on someone from another ethnicity who achieved what nobody in his entire village will ever dream of achieving

Intercontinental bank was looted into the ground by Erastus Akingbola who deceived every one with his compulsory morning devotions at work

The thief Erastus looted over 330 billion from Intercontinental and they had to resort to CBN discount window forshort term funds tkk on stay afloat

OP is high , is a liar and should be arrested .

Putting on ethnic lenses like this will always mess up your sense of judgement.
Feed us with the rationale behind a debtor access Bank acquiring Intercontinental Bank, its creditor and benefactor that help it survive Soludo's capitalisation policy.

BitterTruth01:
Yoruba man don come here to rewrite history as usual to cast aspersions on someone from another ethnicity who achieved what nobody in his entire village will ever dream of achieving

Intercontinental bank was looted into the ground by Erastus Akingbola who deceived every one with his compulsory morning devotions at work

The thief Erastus looted over 330 billion from Intercontinental and they had to resort to CBN discount window forshort term funds tkk on stay afloat

OP is high , is a liar and should be arrested .

morning devotions make i laugh hahahahahah...naija ...manipulation even in high places.

mrrandomguy:
Read the other two threads I posted on this Intercontinental Bank saga. Check my profile, or check the front page for "Wigwe University" and see my second comment.

I read through all of them. Very fantastic.

Kloenboi:


From the picture you posted...

Raymond C. Obieri stated that he established intercontinental Bank !

Normal igbo chest beating na, but the fact is that no individual can form a bank by self alone in Nigeria. It's not a one man business

Yankee101:


Intercontinental bank collapse has nothing to do with the 2008 stock market crash

And the 2008 stock market crash was about subprime mortgages

Nigeria didn’t have any deep derivative market or even a significant mortgage portfolio.

Lastly, Nigerian banks collapsing was a process that began pre 2008

Try again

You are right it was Vendetta

Law of Karma shall catch all of them one by one!