The earlier the better. She would have killed the bank if not stopped. I wonder how much that woman knew about human relations.

I suspect people claiming Osibodu is the reason Union Bank is that bad to be either staff who were hurt in the scheme of her restructuring the operations of the bank or people who are connected to staff who deliberately falsify information just to malign the lady.

Objectively, Union bank is better than what it was in 2009, I'll therefore conclude that previous managements created the mess people are seeing. It won't be nice to conclude that someone who successfully carried out the mandate given her by CBN has not done well.

photo?

leighcon:^^
Rasputinn your post seem uninformed. The right issue was only 15.5% subscribed far below the threshold allowed by SEC for the proceeds to have been due to the bank. In this vein the registrar is to return money to people who subscribed.

The shareholders of the bank have been receiving their money back through the same channel they receive dividends.

The money did not even get to the management of the bank in the first place.

Uninformed?me or you?
Don't worry,if all goes according to plan(and one woman I know hands off the whole issue),then we shall see who is uninformed.For a beautiful crrok that gradually wants to steal the bank and sell to her friends at Union global and AMCON.
The essence of the RI was to shore up the stake of the existing shareholders and cut that of Union global and AMCON(thereby ensure that the bank stays healthily listed on the NSE,as the law requires that a publicly quoted company must be have at least 25% of its shares in the hands of public shareholders)but instead the deal was frustrated and Union global was allowed by Ms Osibodu to now grab a futher 25% of the shares by paying the 15 billion naira(under shady circumstances) I mentioned.Do you know where the 15 billion naira went to?
I hope your "informed" self knows that with that corrupt action of Funke Osibodu,Union bank is now 84% owned by Union global and AMCON,thereby exposing the bank to the risk of being delisted from the exchange.You just like to talk.Do you know for how long I've been investing in Union bank shares?do you know my holding?you think you are the only "informed" Nigerian that cares about what goes on in that bank?

Abeggi fly

^^
Oga,
Don't misrepresent facts sir. Check http://www.unionbank-recap.com/faq-page . Time will tell anyway.

Meanwhile, it's not her fault that you existing shareholders refused to take up your rights, did she prevent anyone from buying? How did she frustrate the process?

Which N15 billion? From who? Why would new investors who you claim are her friends pay N15 billion that would disappear?

AMCON and UGPL now own 78.5% not 84%. Ofcourse AMCON was willing to shed holding but shareholders didn't take up their rights. UGPL took up extra holdings on the floor of NSE, not through any shady deal.

By the way Funke Osibodu is a Mrs. not Ms.

ebamma: banks dont make any profit from your savings account,so dont think that because a bank has many customers, the are making profit

Who told you this lie? A bank 'buys' your savings account balance from you at say 5% and 'sell' to a borrower at say 16-20%. Is this not a decent spread?

otokx: What did she achieve while she was there?

Each time he works past the citibank branch in Trans Amadi road, Port Harcourt, he wonders whether their clients are demons, angels and dead spirits because the place is always deserted. What type of bank is this?

The target market of each market is different ranging from retail to corporate. Citibank's target in Nigeria is corporate customers - few but impactful.