₦airaland Forum

By Dipo Olowookere

Amidst reactions to the recent attack on a military base in Metele, Borno State, by the Boko Haram insurgents, which led to the death of unspecified number of Nigerian soldiers, a group known as Coalition of Civil Society Groups against Terrorism in Nigeria has condemned the attack on the military base by the insurgents.

In a statement issued by the group, it also called for caution, especially from politicians who are already exploiting the unfortunate incident, to score political points.

In the statement issued in Lagos on Saturday and jointly signed by its Convener and Registrar, Comrade Odeyemi Oladimeji and Atani John respectively, the group commiserated with the immediate families of the fallen heroes and the Nigerian Army, saying the ultimate sacrifices they have made in keeping citizens safe shall never be forgotten.

It also said it has no doubt that the sudden escalation of attacks targeting military formations in the Northeast was targeted at presenting the administration of President Muhammadu Buhari in bad light, particularly as Nigeria prepares for the 2019 General elections.

“The recent attacks can be clearly linked to the quest by these criminal elements, who have now actively engaged their international partners to build up their armoury, having earlier been seriously decimated by the Nigerian Army, while also creating an atmosphere of fear for the citizens, who are now returning in numbers to their ancestral homes after series of mop up operations by the Nigerian military,” the group said in the statement.

"It is therefore our patriotic view that Nigerians particularly in the social media, should not be deceived by the antics of some desperate politicians, who are already making political capital out of the plight of our military, who are fighting day and night to win the war on terrorism.

“They must not be oblivious of the fact that these attacks on our military will be exploited by politicians desperate to win elections.

“We see these attacks by these criminal elements in the society as deliberate attempts to not only test the strength of our security personnel but also ostensibly as a means of testing the waters for a more sinister objective ahead of 2019 elections,” the statement added.

The group further said what the service chiefs and the entire security agencies in Nigeria require is the prayers and encouragement of Nigerians, particularly leaders of thought and politicians across political divides, and not an exploitation of the callous activities of ISWAP/Boko Haram to demoralize the service chiefs and the gallant troops or any mischievous call for the sack of the service chiefs.

The statement also said everyone must rise to condemn the trend, where politicians and some ethnic champions try to embolden these criminals by questioning the competence of the military commanders as such conducts remain unpatriotic.

The statement also called for an urgent synergy among the Nigerian government and its neighbours in Niger Republic, Chad and Cameron, as investigation has shown that these insurgents are coming into Nigeria through the fringes of these countries.

https://businesspost.ng/2018/11/24/2019-renewed-boko-haram-attacks-mainly-to-embarrass-buhari-group/

By Dipo Olowookere

The price of the Brent crude oil fell below $60 per barrel on Friday at the international market, Business Post is reporting.

As at the time of filing this report, the price of the commodity was trading at $59.19 to a barrel, declining by 5.45 percent.

This is already giving observers in Nigeria something to worry about because crude oil is the main export of the county, Africa’s largest economy.

Business Post reports that in the 2018 budget, the crude oil benchmark was set at $51 per barrel and with the recent decline; the Nigerian government will start to think of how to generate more revenue from other sectors of the economy in order not to fall into another crisis with the general elections just about three months away.

In the second quarter of 2016, Nigeria slipped into recession following a huge drop in the price of crude oil and cut in supply caused by attacks on oil installations in the Niger Delta region.

The country only moved out of recession a year later after the price of crude oil started to gain weight and peace returning to the oil-rich Niger Delta.

With the price of oil already going down coupled with the gradual depleting of the external reserves, there are fears that Nigeria may suffer another economic recession.

At the global market, there are also concerns about a glut of crude supply and fears that economic headwinds could lessen demand.

With these at the corner, the price of the black gold may continue to go down after reaching a high of more than $86 a barrel early last month.

A look at the price of WTI Crude Oil showed that it went down by 7.76 percent on Friday to trade at $50.39 per barrel.

https://businesspost.ng/2018/11/23/brent-crude-oil-slips-to-59-friday-after-5-45-loss/

Brent Crude Oil Slips to $59 Friday after 5.45% Loss
https://businesspost.ng/2018/11/23/brent-crude-oil-slips-to-59-friday-after-5-45-loss/

Diamond Bank: Battling for Survival Under Uzoma Dozie
https://businesspost.ng/2018/11/23/diamond-bank-battling-for-survival-under-uzoma-dozie/

Huge Sale of Zenith Bank Shares Triggers Speculations
https://businesspost.ng/2018/11/23/huge-sale-of-zenith-bank-shares-triggers-speculations/



OMA Investments Ltd Raises Stake in Ikeja Hotel to 25.89%
https://businesspost.ng/2018/11/23/oma-investments-ltd-raises-stake-in-ikeja-hotel-to-25-89/


Agusto & Co Affirms 'Bbb' Rating to C&I Leasing N600m Bond
https://businesspost.ng/2018/11/23/agusto-co-affirms-bbb-rating-to-ci-leasing-n600m-bond/

One-Year T-Bills Yields Marginally Drop 0.01% in Mixed Trading Session
https://businesspost.ng/2018/11/23/one-year-t-bills-yields-marginally-drop-0-01-in-mixed-trading-session/amp/

In fact, since July 2016 or so

Mpeace:
So whats the essence of their meeting if all they do is just to "leave everything as they were"

Since last two years(2017 & 2018), all they have been meeting for has been to "leave everything as they were"
Na wa for these pple.

BREAKING: CBN Holds Rates at 14% After MPC Meeting
https://businesspost.ng/2018/11/22/breaking-cbn-holds-rates-at-14-after-mpc-meeting/

**As Nigeria Ranks 5th in 2018 Digital Traveller Rankings

By Dipo Olowookere

A new research conducted by world’s leading global commerce platform, Tracelport, has placed Nigeria 5th globally in the 2018 Digital Traveller Rankings, ahead of all the European and North American countries surveyed.

According to the research, a major finding of the 2018 Global Digital Traveller Research was that Nigerian travellers were forward-thinking and ready to embrace new technologies more readily than their counterparts from Europe and other parts of the world.

In the independent global travel survey, which covered 16,200 respondents from 25 countries including Nigeria, it was discovered that Nigerian travellers were digital-savvy, mobile native and ready to embrace new technology for a seamless travel experience.

For instance, Nigerian travellers are heavily reliant on their mobile phones with 85 percent of travellers in Nigeria revealing that they use their smartphones when researching their trips, and 78 percent using their phones to make bookings.

More than half of all travellers (66 percent) also said they would be lost without their smart phones, and 74 percent worry about their technology failing, or their phones running out of battery power.

Nigerian travellers were the most likely of those surveyed to want to share their biometrics, to facilitate a better travel experience, according to the report.

Flight related mobile apps have also become a critical feature for Nigerian travellers. They use multiple apps (an average of 13.6) when researching and booking a trip.

These apps are used to search and book flights (82 percent), for flight alerts (75 percent) and for mobile check-ins (74 percent).

Almost half of all travellers (46 percent) would prefer to see their trip itinerary (flights, hotels, trains, etc.) in one place, while 38 percent report that they find it unsatisfying to book everything separately.

In the study, 45 percent prefer to check-in to a hotel via a mobile app. This demonstrates a clear appetite to work with travel providers which can offer a consolidated digital experience.

According to the report, not only are Nigerian travellers becoming more digitally savvy, they are actually now more discerning.

For instance, 76 percent of them think that digital boarding passes make travel much easier, while 68 percent avoid hotels that charge for Wi-Fi. Clearly free Wi-Fi has gone from a marketing opportunity to an expected necessity for most travellers.

When it comes to payments, a large number (72 percent) of travellers in Nigeria have used a digital wallet or payment app (e.g. Apple Pay, Alipay, etc.) at some point while travelling, while 31 percent use them all the time.

The report shows that review sites such as TripAdvisor tend to have a big influence on Nigerian travellers (81 percent), with 55 percent of respondents saying that it actually has the greatest influence over their travel choices. For travel research, 82 percent of the respondents rely on videos and photos posted by friends on social media.

Commenting, Travelport’s Managing Director for Africa, Mr Guido Verweij, stated that, “The 2018 Global Digital Traveller Research clearly shows that demand from Nigerian travellers for digital solutions that improve their travel experience is sky high. This is only going to escalate further in the years to come, so if you work in the travel industry and don’t already have a digital engagement plan, it’s time to get one!”

https://businesspost.ng/2018/11/21/78-nigerian-travellers-make-bookings-via-mobile-phones-survey/

By Dipo Olowookere

Inflation rate in Nigeria declined to 11.26 percent in the month of October 2018 after rising for two consecutive months; August and September.

According to data released on Wednesday morning by the National Bureau of Statistics (NBS), the inflation dropped to 11.26 percent from 11.28 percent recorded in September 2018.

Business Post reports that on month-on-month basis, the headline index increased by 0.74 percent in October 2018, down by 0.09 percent points from the rate recorded in September 2018 (0.83) percent. The percentage change in the average composite CPI for the twelve months period ending October 2018 over the average of the CPI for the previous twelve months period was 12.78 percent, from 13.16 percent recorded in September 2018.

The urban inflation rate increased by 11.64 percent (year-on-year) in October 2018 from 11.70 percent recorded in September 2018, while the rural inflation rate increased by 10.93 percent in October 2018 from 10.92 percent in September 2018.

On a month-on-month basis, the urban index rose by 0.76 percent in October 2018, from 0.86 percent recorded in September, while the rural index also rose by 0.72 percent in October 2018, down from the rate recorded in September 2018 (0.82) percent.

However, Nigeria’s Statistician General, Mr Yemi Kale, disclosed on Wednesday that food inflation jumped to 13.38 percent year-on-year in October from 13.31 percent in September, with the core inflation increased to 9.9 percent year-on-year in October from 9.8 percent.

This rise in the food index was caused by increases in prices of Fruits, Meat, Vegetables, Potatoes, yam and other tubers, Bread and cereals, and Oils and Fats.

On month-on-month basis, the food sub-index increased by 0.82 percent in October 2018, from 1.00 percent recorded in September. The average annual rate of change of the Food sub-index for the twelve-month period ending October 2018 over the previous twelve-month average was 15.36percent, from the average annual rate of change recorded in September (15.92) percent.

https://really-simple-ssl.com/knowledge-base/how-to-setup-google-analytics-and-google-search-consolewebmaster-tools/

BREAKING: Nigeria's Inflation Drops to 11.26% in October
https://really-simple-ssl.com/knowledge-base/how-to-setup-google-analytics-and-google-search-consolewebmaster-tools/

By Modupe Gbadeyanka

In order not to be caught unawares, some investors having shares of Diamond Bank Plc in their portfolio are beginning to offload them as a result of uncertainty over the financial institution's future.

In recent times, Diamond Bank has not been churning out good results, a development Business Post gathered has given some shareholders of the mid-tier lender sleepless nights.

For example, the 2017 full year financial statements of Diamond Bank was nothing to write home about and just when some observers and investors thought things would get better in the first quarter of 2018, their expectations were cut short as the firm further failed to impress.

In its second quarter 2018 results, things did not get any better and so also in the third quarter.

In late September 2018, the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank Plc, making shareholders of the lender lose their hard-earned money. This development triggered panic in the banking sector, especially among those in the same tier with Skye Bank, which the bank in focus is among.

Making matter worse for Diamond Bank was the downgrading of firm's long and short-term issuer credit ratings by S&P as well as the recent reports of a possible acquisition of the company by a tier-1 bank, Access Bank Plc, though both have since denied this.

But what seemed to be more confusing was the resignation of Chairman of the bank, Mr Oluseyi Bickersteth, and three other directors last month, which reports said was to allow the rumoured new investors have their own representatives on the board of the firm.

Even Mr Bickersteth was quoted as saying in an interview that the board considered selling Diamond Bank to another bank, which the present management has described as untrue.

However, in order not to fall into a similar situation with Skye Bank, shareholders of Diamond Bank are already selling off their holdings, Business Post has learnt.

According to data from the Nigerian Stock Exchange (NSE), trading in Diamond Bank Plc, Ikeja Hotel Plc, and FBN Holdings Plc, (measured by volume) accounted for 708 million shares worth N1.8 billion in 1,957 deals, contributing 55.11 percent and 15.23 percent to the total equity turnover volume and value respectively last week.

Also, Diamond Bank, which opened last week at N1.28k per share, closed last Friday at 90 Kobo per share, indicating as 29.69 percent loss in one trading week.

But despite the troubles, the CEO of Diamond Bank, Mr Uzoma Dozie, has expressed optimism that all will be well.

According to him, the conclusion of the sale of Diamond Bank's subsidiary in the United Kingdom this quarter and other strategies being put in place should propel the company back to profitability.

“As we move into the final quarter of the year, we expect headwinds to continue driven by emerging situations in developed economies as well as our domestic political realities.

“Despite this, our investors can expect a further decline in Non-Performing Loans (NPLs), a further increase in our digital footprint and completion of the sale of the UK subsidiary.

“Through these actions, we remain optimistic about the medium to long term outlook of Diamond Bank and its return to strong profitability,” Mr Dozie was quoted as saying in a statement issued last week by bank’s PR agency, Prize Communications Limited, which was obtained by Business Post.

Whether investors will take Mr Dozie for his words is one thing many cannot answer at the moment especially when some have blamed him for the bank's recent misfortunes. In fact, some have even started to call for his removal as Diamond Bank MD/CEO.

https://businesspost.ng/2018/11/19/investors-dump-diamond-bank-shares-amid-fears-over-companys-future/

Investors Dump Diamond Bank Shares amid Fears over Company’s Future
https://businesspost.ng/2018/11/19/investors-dump-diamond-bank-shares-amid-fears-over-companys-future/

SEC Extends Deadline for Investors to Regularise Multiple Accounts
https://businesspost.ng/2018/11/19/sec-extends-deadline-for-investors-to-regularise-multiple-accounts/

Interbank Rates to Decline as N397.7b T-Bills Mature
https://businesspost.ng/2018/11/19/interbank-rates-to-decline-as-n397-7b-t-bills-mature/

These 21 Firms Still Remain Suspended on Nigerian Stock Exchange
https://businesspost.ng/2018/11/18/these-21-firms-still-remain-suspended-on-nigerian-stock-exchange/

Analysis: Equities Market May Remain Bearish After 2019 Elections
https://www.businesspost.ng/2018/11/15/equities-market-may-remain-bearish-after-2019-elections/

GCR Affirms Rating on UBA’s N345b Series 1 Notes
https://www.businesspost.ng/2018/11/15/gcr-affirms-rating-on-ubas-n345b-series-1-notes/

By Modupe Gbadeyanka

The Debt Management Office (DMO) on Wednesday disclosed that the $2.86 billion worth of Eurobond issued by the Nigerian government was successful.

In a statement yesterday, the debt office said subscriptions worth $9.5 billion were received from investors, reflecting their confidence in the Nigerian economy.

The Eurobond was offered by Nigeria under on Global Medium-Term Note Programme.

Despite significant oil and wider macro market volatility, Nigeria has successfully raised its external debt requirements for the 2018 budget at a cost considerably lower than many of its peers across Sub-Sahara Africa.

The successful transaction follows closely behind Nigeria’s successful engagement with the Fitch rating agency, and their subsequent decision to change the outlook on Nigeria’s sovereign rating from B+ (negative) to B+ (stable), based on improving macro-economic fundamentals.

According to the DMO, the notes offered to the international investors comprise a $1.18 billion 7-year series, $1.00 billion 12-year series and a $750 million 30-year series.

It was disclosed that the 7-year series will bear interest at a rate of 7.625 percent, while the 12-year series will bear interest at a rate of 8.75 percent, and the 30-year series will bear interest at a rate of 9.25 percent. In each case, they will be repayable with a bullet repayment of the principal on maturity.

The DMO said the offering is expected to close on or about November 21, 2018, subject to the satisfaction of various customary closing conditions.

Nigeria intends to use the proceeds of the papers towards funding of the fiscal deficit and other financing needs.

The bonds represent Nigeria’s sixth Eurobond issuance, following issuances in 2011, 2013, two in 2017 and one in early 2018 and its first triple-tranche offering.

When issued, the notes will be admitted to the official list of the UK Listing Authority and available to trade on the London Stock Exchange’s regulated market.

The DMO said Nigeria may apply for the notes to be eligible for trading and listed on the Nigerian FMDQ OTC Securities Exchange and the Nigerian Stock Exchange.

According to the debt office, the pricing was determined following a series of meetings with investors in London and conference calls with investors globally attended by the Nigerian delegation, which comprised Minister of Finance, Mrs Zainab Ahmed; Minister of Budget and National Planning, Mr Udoma Udo Udoma; Central Bank Governor, Mr Godwin Emefiele; Director General of DMO, Mrs Patience Oniha; and Director General of the Budget Office of the Federation, Mr Ben Akabueze.

Commenting, the Minister of Finance said, “Nigeria is investing strategically in critical capital projects to bridge our infrastructure deficit, provide a better operating environment for the private sector, and improve the standard of living of our citizens.

“Proceeds of this issuance will provide critical financing for projects in transportation, power, agriculture, housing, healthcare and education as well as the capital elements of our social investment programmes. Nigeria’s Economic Recovery and Growth plan is delivering results.”

Also speaking on the bond issuance, the DMO boss said "Nigeria’s continued ability to access the international markets to raise capital is a testament to investor’s confidence which has been supported by continuous engagement with them on various reform initiatives and outcomes. The issuance of the Eurobonds, which received the prior  approval  of  the  Executive  and  Legislative  arms  of  government,  will  not  only  provide capital to finance various projects, but also contribute towards the achievement of the Debt Management  Strategy.

“The  ability  to  raise  $2.86  billion,  which  is  the  exact  amount government  needed  in  volatile  and  challenging  market  conditions  has  been  described  as  a stellar outcome.”

https://www.businesspost.ng/2018/11/15/2-86b-eurobond-nigeria-receives-9-5b-subscriptions-from-investors/

By Modupe Gbadeyanka

More information are beginning to emerge on what led to the actual death of Skye Bank Plc few months ago, when the Central Bank of Nigeria (CBN) revoked its operating licence and changed it to Polaris Bank.

It was gathered from the preliminary reports of the ongoing investigations of the management of the defunct Skye Bank Plc that the lender’s top shot allegedly carried out serial manipulations of the company’s reports, fraudulently masking details with the sole aim of deceiving regulators, including the CBN and the Nigerian Stock Exchange (NSE).

According to Guardian, the preliminary reports specifically identified fraudulent and false accounting, manipulation of accounting records to present false profits and ratios, unlawful loan and credit facilities, non-disclosure of directors’ interests and lending beyond the single obligor limit.

The Nigeria Deposit Insurance Corporation (NDIC), in a disclosure, said it is currently monitoring the investigations in conjunction with the apex bank, which are ongoing, by the law enforcement agencies, against the directors and management of the failed bank, to determine their actual level of culpability.

In the evening of Friday, September 21, 2018, Governor of the CBN, Mr Godwin Emefiele, at a news conference, announced the revocation of Skye Bank licence.

During the announcement, Mr Emefiele said a bridge bank called Polaris Bank had been established to assume ownership of the assets and liabilities of Skye Bank and make sure it gets back on its feet and return to profitability.

On Monday, September 24, 2018, the NSE suspended trading on the shares of Skye Bank at the stock market.

Days later, Managing Director/Chief Executive Officer of Nigeria Deposit Insurance Corporation (NDIC), Mr Umaru Ibrahim, while speaking at a function in Lagos, said a former chairman of Skye Bank, Mr Tunde Ayeni, as well as a director of the defunct bank, Mr Festus Fadeyi, were being investigated by government.

He had said as soon as investigations were finalised, the necessary action would be taken and those found culpable severely dealt with.

In early October 2018, Minister of Finance, Mrs Zainab Ahmed, directed the CBN and NDIC to fully investigate and prosecute all the directors and executive management who contributed to the collapse of Skye Bank as well as other Deposit Money Banks (DMBs) in liquidation.

She had noted that the failure of Skye Bank must be used as an opportunity to deal decisively with those behind the collapse so as to serve as a deterrent to other operators in the financial system and according to her, federal government was no longer prepared to treat such serious infractions with levity.

https://www.businesspost.ng/2018/11/15/how-skye-bank-management-tampered-with-figures-to-deceive-regulators/

How Skye Bank Management Tampered With Figures to Deceive Regulators
https://www.businesspost.ng/2018/11/15/how-skye-bank-management-tampered-with-figures-to-deceive-regulators/

CBN Lowers Rates on 91-day, 182-day T-Bills
https://www.businesspost.ng/2018/11/15/cbn-lowers-rates-on-91-day-182-day-t-bills-amid-low-subscriptions/

I am just having pity on those who will rush to subscribe to the offer. That was how DAAR Comms started at N5 at IPO, today, we know where they are.

Like some always say, there will always be a victim of something no matter the warnings

fxuser:
- wen its hits the mkt , Mr mkt will do d needful

But sincerely, if NAHCO is trading at N3.63k at the moment, is the valuation of SAHCOL at N4.65k not high?

NECA Slams Lottery Regulatory Agency over Closure of Nigerian Breweries
https://www.businesspost.ng/2018/11/14/neca-slams-lottery-regulatory-agency-over-closure-of-nigerian-breweries/

Dealing With Corporate Governance Challenges in Business
https://www.businesspost.ng/2018/11/14/dealing-with-corporate-governance-challenges-in-business/

T-Bills Market Slightly Bearish Ahead of Wednesday's PMA
https://www.businesspost.ng/2018/11/14/t-bills-market-slightly-bearish-ahead-of-wednesdays-pma/

Investors Expect CBN to Offer Higher Rates at Today's PMA
https://www.businesspost.ng/2018/11/14/investors-expect-cbn-to-offer-higher-rates-at-todays-pma/

By Dipo Olowookere

The Nigerian Communications Commission (NCC) has finally sold 9mobile, formerly Etisalat Nigeria, to Teleology Holdings Limited.

As a result, Teleology has announced the constitution of a new Board of Directors for the nation’s multi-award-winning telecommunication company, 9mobile.

This followed the successful completion of the tenure of the former board appointed by the Central Bank of Nigeria (CBN) and in fulfilment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited.

In a statement made available to Business Post on Monday, Teleology thanked “all out-going members of the board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wish them the very best in their future assignments.”

The firm said, “For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the board of the NCC to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements.”

“This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market,” the statement added.

According to Teleology, the new Board of Directors comprises Nasiru Ado Bayero as Chairman, Stephane Beuvelet as the Acting Managing Director, Asega Aliga as Non-Executive Director, Adrian Wood as Non-Executive Director, Mohammed Edewor as Non-Executive Director, Winston Ndubueze Udeh as Non-Executive Director and Abdulrahman Ado as Executive Director.

Commenting, the new Chairman of 9mobile, "As we begin this new epochal phase, we wish to thank all the employees who built this viable business.

“Our debt of gratitude also goes to our subscribers even as we assure them to get ready for real best-in-class additional value for their relationship with the 9mobile brand.

“Without you, there could not have been a 9mobile business for us to invest in today. We will justify your confidence in our brand by making significant investments that will improve the value you get for using 9mobile."

It would be recalled that the CBN in collaboration with the NCC, had in July 2017 appointed a Board of Directors chaired by Dr. Joseph Nnanna, the Deputy Governor of the Central Bank of Nigeria, to oversee the affairs of the company pending the completion of regulatory due diligence of the bid documents submitted by Teleology and sixteen others for its acquisition.

The bid process was superintended by Barclays Africa. But with the emergence of the Board, the long process for the acquisition of 9mobile has reached a definitive end marking the beginning of a new era for the telecommunication company.

https://www.businesspost.ng/2018/11/12/teleology-finally-takes-over-9mobile-appoints-directors/

BREAKING: Teleology Finally Takes Over 9mobile, Appoints Directors
https://www.businesspost.ng/2018/11/12/teleology-finally-takes-over-9mobile-appoints-directors/

Please note that both banks; Diamond Bank and Access Bank have denied the acquisition reports. It is now left for you decide what to do next.

kenmaro:
What is the fate of Diamond bank ordinary shareholders, are they carried along in this acquisition deal? Will the shares be valid and converted to access bank shares or it will be liquidated like the case of Allstates bank & Ecobank?

I doubt if Diamond Bank is still an international bank with the sale of its subsidiaries in West Africa as well as its UK branch, which is almost completed.

Is it not even better operating as a regional entity and make profit than operate as a national bank and continue to record loss and losses.

It is obvious that the management is under huge pressure they cannot handle. With a regional banking licence, which means a lower CAR, the management can restrategise to bounce back better and bigger.

Flattino:
From international to regional?
Lol

I will blame Mr Pascal Dozie for this misfortune. One of the reasons I respect Otunba Subomi Balogun till now is the introduction of his heir apparent, Ladi, into the banking world from the scratch.

Ladi knows every aspect of the banking business, with the boardroom politics and others, which I doubt Uzoma knows. You cannot give what you don’t have.

I used to be emotionally attached to Diamond Bank and FCMB, but I have learnt to take way emotions from business or investments.

If not for pride, Diamond Bank should just use the strategy Wema Bank applied to stay afloat; changing its banking licence status probably to a regional bank before upgrading again to a national licence. But Uzoma that I know will not consider such.

Abi o. No be my mouth dem go hear say Diamond Bank get twisted ankle injury.

mendes911:
That you enclosed the word says a lot. LOL.

@Yariya. Unfortunately, you could not decode what I meant by 'better' in that context. Let me make it clear now, 'Better' as used in my earlier sentence is directly the opposite meaning of the word. I hope you get the drift now.

Make people no go accuse me of passing wrong info tomorrow.

Regards

Yayira:
“Things are better than we think” abeg can you introduce me to this “insider” maybe I dey read their results upside-down