Finally closed

Akerewe:
Finally closed

Banks and Stockbrokers are expected to sent the money realized to the issuing house that is Stanbic IBTC Capital on or before close of business today.

I bought directly from the issuing house that is (Stanbic IBTC Capital) reason why I said if you can make payment before 12 noon today to the issuing house account it will fly, before allotment and compilation are done over the weekend

emmanuelewumi:



Banks and Stockbrokers are expected to sent the money realized to the issuing house that is Stanbic IBTC Capital on or before close of business today.

I bought directly from the issuing house that is (Stanbic IBTC Capital) reason why I said if you can make payment before 12 noon today to the issuing house account it will fly, before allotment and compilation are done over the weekend

Ok I will try my best. Thanks Oga Emma, appreciate you.

Disrupt everywhere. But silently. Hahahha

Akerewe:

Ok I will try my best. Thanks Oga Emma, appreciate you.

Doubt if it will work since you don't have a contact at the issuing house ie Stanbic IBTC Capital.


I will advise you to buy in the secondary market if you are still interested

Tobex4realTobex234:
Disrupt everywhere. But silently. Hahahha

The transaction is more of a money laundering thing for some politicians. Zenith Bank and Access Bank are better qualified and have the resources to buy Union Bank.

But Emefiele and CBN in their wisdom prefer a little known Titan Bank.


Rumour has it that Titan Bank is the retirement plan of Meffy.

Former CEO of Zenith Bank who was a junior to Meffy, became the chairman of Globus bank after his retirement from Zenith.

Meffy will want to own a bank after leaving CBN

I can't ascertain the veracity of your Meffy intents but just so you know, Titan Bank is backed by America's Citi bank.

Tobex4realTobex234:
I can't ascertain the veracity of your Meffy intents but just so you know, Titan Bank is backed by America's Citi bank.

Titan Bank is not backed by any America’s citi bank. Stop spewing what you do not know. Just because their CEO came from Citi in America does not mean it is backed by Citi. That CEO was in Nigeria working for Citi for many years as MD before he was redeployed out of Naija. Of course he made strong connections here before leaving Nigeria.

If anything, the bank is backed by Zenith or some strong Zenith people. I didn’t mention names o. Most of their management and board members used to be at Zenith.

freeman67:


Or if you intend to be doing that volume of transactions from your comfort zone. You can increase your limit. The maximum you can increase to for the app and internet access is 5M.

Av tried doing that but i was ask to fill an indemnity form which i didnt agree to but i will look into it these days because no time to be visiting the branch. thanks

emmanuelewumi:



Doubt if it will work since you don't have a contact at the issuing house ie Stanbic IBTC Capital.


I will advise you to buy in the secondary market if you are still interested

I was at the branch also but was told it has been closed but of course i will buy FGN BOND ON AVAILABILITY or sukuk at the secondary market on availability also if the stop rate is not too low. thanks

Tobex4realTobex234:
I can't ascertain the veracity of your Meffy intents but just so you know, Titan Bank is backed by America's Citi bank.

Check the current annual report, the current shareholders are Indian Businesess eg TGI, Chi and others fronting for politicians

Lazyyouth4u:


Titan Bank is not backed by any America’s citi bank. Stop spewing what you do not know. Just because their CEO came from Citi in America does not mean it is backed by Citi. That CEO was in Nigeria working for Citi for many years as MD before he was redeployed out of Naija. Of course he made strong connections here before leaving Nigeria.

If anything, the bank is backed by Zenith or some strong Zenith people. I didn’t mention names o. Most of their management and board members used to be at Zenith.

Meffy was the CEO of Zenith 5 years ago.

So Emefiele is playing politics with this acquisition again. After playing politics with fintechs licensing, SEC confusion over cryptocurrency, and naira exchange rate. These people are so self centered with everything... So sad.

Tobex4realTobex234:
So Emefiele is playing politics with this acquisition again. After playing politics with fintechs licensing, SEC confusion over cryptocurrency, and naira exchange rate. These people are so self centered with everything... So sad.

Zenith is the most profitable bank and also has the highest shareholders fund, Access Bank has the largest deposit and assets.

Both of them bidded for Union Bank, but little known Titan bank won.

While some were complaining about 12.8% and later 13% coupon by Sukuk 4.

This is an Infrastructure Fund that pays plus 2% to 5% of the coupon paid by a 10 year FGN bond.

A 10 year FGN bond pays 12%, so this Infrastructure Fund pays 14% to 17%

emmanuelewumi:
While some were complaining about 12.8% and later 13% coupon by Sukuk 4.

This is an Infrastructure Fund that pays plus 2% to 5% of the coupon paid by a 10 year FGN bond.

A 10 year FGN bond pays 12%, so this Infrastructure Fund pays 14% to 17%

While infrastructure funds are really needed in Nigeria, retail investors should not think that they carry no risk. If you are a very conservative investor, I dare say you are better off with the FGN bonds. Worst case, FGN will print money and pay you

If the assets that these infra debt fund lends money to ends up not performing, your money is gone o. Infrastructure funds work best in mature markets where the cash flows of the underlying assets are predictable.

Imagine this fund investing in one power plant that ends up not getting gas. Or a toll road that common man cannot afford to pay tolls. Where do you think your distributions will come from?

emmanuelewumi:


The transaction is more of a money laundering thing for some politicians. Zenith Bank and Access Bank are better qualified and have the resources to buy Union Bank.

But Emefiele and CBN in their wisdom prefer a little known Titan Bank.


Rumour has it that Titan Bank is the retirement plan of Meffy.

Former CEO of Zenith Bank who was a junior to Meffy, became the chairman of Globus bank after his retirement from Zenith.

Meffy will want to own a bank after leaving CBN

Emefiele did not sell Union Bank to Titan Bank. The only role CBN played was to give regulatory approval for the transaction. The key shareholders Atlas Mara and other shareholders sold their shares and did so through a sale process carried out by Rothschild and White & Case.

Please let’s be sure of our facts and not mislead people that do not know how these processes work!!!

Lazyyouth4u:


While infrastructure funds are really needed in Nigeria, retail investors should not think that they carry no risk. If you are a very conservative investor, I dare say you are better off with the FGN bonds. Worst case, FGN will print money and pay you

If the assets that these infra debt fund lends money to ends up not performing, your money is gone o. Infrastructure funds work best in mature markets where the cash flows of the underlying assets are predictable.

Imagine this fund investing in one power plant that ends up not getting gas. Or a toll road that common man cannot afford to pay tolls. Where do you think your distribution will come from?

Chapel Hill Denham infrastructure fund is listed on FMDQ and has returned 85% since it was listed in 2017.


There is a reason why Stanbic IBTC and United Capital are now interested in the infrastructure debt business.


I can see, you are a risk averse person

Lazyyouth4u:


Emefiele did not sell Union Bank to Titan Bank. The only role CBN played was to give regulatory approval for the transaction. The key shareholders Atlas Mara and other minority shareholders sold their shares and did so through a sale process carried out by Rothschild and White & Case.

Please let’s be sure of our facts and not mislead people that do not know how these processes work!!!

Regulatory approval was given to the annointed one by the regulator.


A lot of these new banks won't exist in the next 10 years

They are all fringe players

emmanuelewumi:



Chapel Hill Denham infrastructure fund is listed on FMDQ and has returned 85% since it was listed in 2017.


There is a reason why Stanbic IBTC and United Capital are now interested in the infrastructure debt business.


I can see, you are a risk averse person

Haha. The bolded is very funny. Please tell me the assets that Chapel Hill’s infra fund has invested in that are performing so well that they have made 85% returns….

I’m not saying there is no money in infra. I’m saying our market is an emerging one and you cannot predict cash flows. And distributions are only paid from cash flows from these assets….if these assets don’t do well, how will the funds get money to pay the investors?

emmanuelewumi:



Regulatory approval was given to the annointed one by the regulator.


A lot of these new banks won't exist in the next 10 years

They are all fringe players

Private buyer sold to the highest bidder. How is that highest bidder annointed by the regulator? Do you think Atlas Mara did not want to maximize their returns when they were selling? Do you think an internationally renowned firm like Rothschild will not be interested in maximizing its fees? They get a percentage of what they sold for so they are incentivized to sell to the highest bidder.

How did Titan Bank get the cash that made them the highest bidder? That’s the question I believe you should be asking and not saying CBN sold a private party’s shares to their friends. We are more educated than that na. That’s beer parlour talk.

Remember when Heritage Bank beat all these big banks to buy Enterprise Bank? Now can’t you see how stupid Heritage Bank was to have over paid for that bank? Same as when Skye bought Mainstream Bank. Hope you know all these other big banks bid but did not win because they did not want to overpay….

Lazyyouth4u:


Haha. The bolded is very funny. Please tell me the assets that Chapel Hill’s infra fund has invested in that are performing so well that they have made 85% returns….

I’m not saying there is no money in infra. I’m saying our market is an emerging one and you cannot predict cash flows. And distributions are only paid from cash flows from these assets….if these assets don’t do well, how will the funds get money to pay the investors?

Get the 2020 annual report. The fund delivered 85% in the last 4 years if you reinvested your quarterly coupon. The fund has a dividend reinvestment program.

The fund also financed 2 hostels at Lagos State University.

A fund that doesn't have cash flow won't pay coupons four times in a year

Lazyyouth4u:


Private buyer sold to the highest bidder. How is that highest bidder annointed by the regulator? Do you think Atlas Mara did not want to maximize their returns when they were selling? Do you think an internationally renowned firm like Rothschild will not be interested in maximizing its fees? They get a percentage of what they sold for so they are incentivized to sell to the highest bidder.

How did Titan Bank get the cash that made them the highest bidder? That’s the question I believe you should be asking and not saying CBN sold a private party’s shares to their friends. We are more educated than that na. That’s beer parlour talk.

Remember when Heritage Bank beat all these big banks to buy Enterprise Bank? Now can’t you see how stupid Heritage Bank was to have over paid for that bank? Same as when Skye bought Mainstream Bank. Hope you know all these other big banks bid but did not win because they did not want to overpay….

Forget that thing, the regulator is very powerful.


Access Bank have been aggressive right from time.

Access Bank as a small bank tried a hostile takeover of Afribank in 2005 by accumulating the shares of Afribank on the floor of NSE, the type of strategy used by Femi Otedola on First.
Soludo cancelled the transaction and everything went back to status quo.

Few months later Access Bank tried the same thing on Union Bank, I guess they got clearance from CBN. Access Bank bought the shares of Union Bank on the floor of the stock exchange, the then CEO of Union Bank Barth Ebong released tens of billions of Naira to Ololo to fight back. Read up on Ololo.

This created a buying spree on the the shares of Union Bank by Access Bank and Ololo who was a proxy for Union Bank insider.

Access Bank was able to get 10% of Union Bank shares, but at the last minute CBN directed Access Bank to sell the Union Bank shares.


During the banking sector capitalisation, CBN prevented First Bank from coming to the market because they believed FBN would crowd out others and by the way First Bank had more than the N25 billion capital base required by CBN.

Otedola has the backing of CBN, if not they would have told him to sell the shares he bought because they don't want him to destabilize the stability in the industry.

.

emmanuelewumi:



Get the 2020 annual report. The fund delivered 85% in the last 4 years if you reinvested your quarterly coupon. The fund has a dividend reinvestment program.

The fund also financed 2 hostels at Lagos State University.

A fund that doesn't have cash flow won't pay coupons four times in a year

The bolded is not true at all. Is it the hostels that are delivering the 85% returns? Hostels that they just recently invested in? I have more privileged info on this fund and will not argue with you. At least not on a public forum…..

emmanuelewumi:



Forget that thing, the regulator is very powerful.


Access Bank have been aggressive right from time.

Access Bank as a small bank tried a hostile takeover of Afribank in 2005 by accumulating the shares of Afribank on the floor of NSE, the type of strategy used by Femi Otedola on First.
Soludo cancelled the transaction and everything went back to status quo.

Few months later Access Bank tried the same thing on Union Bank, I guess they got clearance from CBN. Access Bank bought the shares of Union Bank on the floor of the stock exchange, the then CEO of Union Bank Barth Ebong released tens of billions of Naira to Ololo to fight back. Read up on Ololo.

This created a buying spree on the the shares of Union Bank by Access Bank and Ololo who was a proxy for Union Bank insider.

Access Bank was able to get 10% of Union Bank shares, but at the last minute CBN directed Access Bank to sell the Union Bank shares.


During the banking sector capitalisation, CBN prevented First Bank from coming to the market because they believed FBN would crowd out others and by the way First Bank had more than the N25 billion capital base required by CBN.

Otedola has the backing of CBN, if not they would have told him to sell the shares he bought because they don't want him to destabilize the stability in the industry.

We are talking about a private bidding process that Atlas Mara used to sell their shares using an international and reputable financial adviser, Rothschild. I don’t know how that has got anything to do with all that you have written up there. I don’t think you know how M&A processes work. So I won’t argue with you

Lazyyouth4u:


We are talking about a private bidding process that Atlas Mara used to sell their shares using an international and reputable financial adviser, Rothschild. I don’t know how that has got anything to do with all that you have written up there. You clearly do not know how M&A processes work. So I won’t waste my time arguing with you. Please try and educate yourself on this before misleading people with conspiracy theories that sound like beer parlour talk…

We are also taking about private Investors who bought the shares of a bank on the floor and CBN cancelled it

Lazyyouth4u:


The bolded is not true at all. Is it the hostels that are delivering the 85% returns? Hostels that they just recently invested in? I have more privileged info on this fund and will not argue with you. At least not on a public forum…..

85% compounded return in 4 years is 16% return per annum plus the capital appreciation of the bond.

It is very possible.

emmanuelewumi:



We are also taking about private Investors who bought the shares of a bank on the floor and CBN cancelled it

Atlas Mara did not sell its shares to Titan Bank on the floor. It was a private process. It’s entirely run by the financial adviser (in this case Rothschild) whose aim is to select the highest bidder and maximize its fees and its clients returns on the sale…

emmanuelewumi:



85% compounded return in 4 years is 16% return per annum plus the capital appreciation of the bond.

It is very possible.

FGN bond paid over 16% in 2017.

Sukuk 1 in 2017 was 16.4%.

These infrastructure bonds are expected to deliver at least 2% returns higher than a 10 year FGN bond

Lazyyouth4u:


Atlas Mara did not sell its shares to Titan Bank on the floor. It was a private process. It’s entirely run by the financial adviser (in this case Rothschild) whose aim is to select the highest bidder and maximize its fees and its clients returns on the sale…

But must be approved by CBN, whether it is a private or a listed bank.

A major or significant shareholder needs CBN approval before he can sell or divest