₦airaland Forum

MadamVanessa:




If not for too much Gun Violence/mass shooting in USA , USA would've been my dream country. I love this country so much. Well organized country.


Rest in peace Jimmy Carter.

Me and you na the same ooo

The crisis in the leadership of First Bank Holdings of Nigeria worsened on Wednesday as a group of stakeholders called for the removal of its board chairman, Femi Otedola, and non-executive director, Mr Julius B. Omodayo-Owotuga.

This comes as the group calls for an immediate extraordinary general meeting (EGM) in the next 21 days in line with section 215 (1) of CAMA.

The group shareholders alleged that FBN has not known peace since the former Central Bank of Nigeria Governor, Godwin Emefiele, influenced Otedola’s acquisition of a significant amount of shares that led to his emergence as Chairman of FBN Holdings in January 2024.

According to the shareholders, with Otedola as Chairman, his personal staff, Omodayo-Owotuga at the Holdco, and yet another personal staff at the bank, Otedola has seized full control of the bank and does as he pleases.

Thus, with the private placement of N360 billion shares, other shareholders fear he would clearly have absolute control and could turn First Bank into his piggy bank without checks, balances, and corporate governance.

“This is to enable him (Otedola) to take full control during the proposed N360 billion private placement. But some of the shareholders are saying instead of a private placement for shares of the bank, it should be by right issue or public offer,” a source who doubled as a stakeholder said anonymously.

However, it was further alleged that Otedola’s preference for private placement is seen as a ploy to gain control and run the financial institution as his private estate.

DAILY POST reports that in the last months, FBN Holdings has been a subject of battle over who holds the single largest share of the institution.

The battle for the soul of FBH is between Otedola and Barbican Capital, which is affiliated with the Oba Otudeko-owned Honeywell Group.

First Bank Holdings, in its audited accounts for 2023, had put Otedola as the single largest shareholder with a 9.41 percent stake in the financial institution. Otedola, however, has recently increased his shareholding by massive acquisition of more shares. At the moment, his exact stake is unclear.

But data from the Central Securities Clearing System, CSCS, the widely accepted source for confirming share ownership, has Barbican Capital, which is affiliated with the Oba Otudeko-owned Honeywell Group, as the largest single shareholder with a 15.01 percent stake.

Records kept by the bank’s registrars, Meristem Registrars & Probate Services Ltd, also showed that Barbican Capital is the single largest shareholder with 5,386,397,202 shares (5.38 billion) as of May 23, 2024.

Consequently, Barbican Capital had sued FBN Holdings for wrongly stating its shareholding in its audited financial statement.

First Bank recently laid off about 100 senior staff members in a major organisational shakeup.

Reports had indicated that the bank’s top executives were asked to leave—as part of its corporate restructuring and repositioning plan for 2025—following the confirmation of Olusegun Alebiosu as FBN’s managing director (MD) and chief executive officer (CEO) in June last year.

There were also allegations that the exits were part of a concerted effort by Otedola to introduce new hands into several leadership positions in the bank's management.

Meanwhile, it is still unclear what the Security and Exchange Commission, SEC, and the Central Bank of Nigeria, CBN, would do in the wake of this CAMA-induced demand for an EGM called to remove Otedola and stop the private placement of the bank shares.

When DAILY POST contacted the spokesperson of FBH, Tunde Lawanson was yet to respond to the inquiry for comment on the matter as of filing the report.

Also, FBN has not officially issued a statement on the matter.

And this particular thread now is https://www.nairaland.com/431955/cheats-more-men-women Posted on Apr 16, 2010


How come it is making it to Front Page after 15 years?

https://www.nairaland.com/3551176/cheats-more-male-female-please Posted Jan 02, 2017

https://www.nairaland.com/1824447/men-women-cheats-most-relationship Posted Jul 22, 2014

https://www.nairaland.com/54467/cheats-more-men-women Posted May 19, 2007

https://www.nairaland.com/73120/guys-girls-cheat-most Posted Aug 17, 2007

https://www.nairaland.com/43763/cheats-most-relationship.the-guys-ladies Posted Mar 08, 2007

https://www.nairaland.com/3975626/greater-cheat-men-women Posted Aug 08, 2017

https://www.nairaland.com/5157568/how-women-cheat-more-than Posted Apr 28, 2019

https://www.nairaland.com/7808586/women-cheat-more-than-men Posted Aug 18, 2023

https://www.nairaland.com/1935935/cheats-more-women-men Posted Oct 06, 2014

See below the links to several threads here, on this same topic. Don't you guys get tired?

https://www.youtube.com/watch?v=QP8KEf1Lr1g

Watch this Video and see why a Lady should never be the President of Nigeria.

I am a Poor person. Nothing concerns me with the madness suffered by Rich people.

ursullalinda:
You didn't have to stoop this low insulting your mum and sisters and announcing their identities just because of the truth...the only reason I replied you in the first place was because l thought I was talking to a human being not a low life...but at this point l can't go low...not me...never... May you know Christ and recieve peace

Get out of this place jare. Who send you?

Educationalserv:
Jamil yougurt started from home to a Multimillion business

Where is it today?

GeeKudi:
Ikeja Hotel and Cornerstone both feature on my watchlist as well. Ikeja is really undervalued. The only downside to the stock is the low dividend performance for long termers who may be fixated on dividend, but may be a good stock for capital appreciation.

Is Transcorp Hotel pulling up Ikeja Hotel?

ursullalinda:
You are the bigger coward here...do with your threats I'm waiting...you can't claim you left the church with lies and mislead pple and expect people like us who know you to keep shut...you must be high on Edo weed

He toast you. You gree or you no gree. Thats all we need to hear. Every other thing you are saying na banza. Not as if you are even a Virgin. Ashawo is online forming a Moralist. Get lost. Hook-up low-life girl.

SmartPolician:
When children share their views online, you don't need a prophet to tell you where they belong.

Coming from somehow who describes himself as Smart, yet cannot spell Politician. SmartPolician indeed. Nitwit.

SmartPolician:
Congratulations to him! Tinubu should start paying these men well and provide them with decent accommodation.

If you visit where families of policemen and women live, you understand why they must collect bribes to survive. Nobody will live in such demeaning condition and give the best to their jobs.

Resign and Disappear if a job is not okay for you. No excuses.

Meerahbel:
Dear Tolu,

I understand your submission. I am also learning the stock market.

Dear Meerahbel, thank you.

ursullalinda:
Pls do I will waiting with receipts and proofs...I don't delete my WhatsApp messages ....bring it on.... Fr Echezona was a womanizer...He had no business with priesthood

If you are not a Coward, how come you have never said it since? Why now?

zero8zero:
Can you confirm what she said below

https://facebook.com/austineechezona.obiagbaosogu

Chat him up, and ask him any question. He will respond.

Fr Obiagbaosogu, what really happened to you? Life happens. It is well.

vacanci:
Pls what exactly is the total outstanding shares of C&I leasing.
Some online reports is saying 2.9B, some 1.76B.
Their last Q3 report EPS was based on 1.76B.

Anyone with updated report about this?

Fidelity Bank and First Bank of Nigeria (FBN) have the majority stakes in listed and unlisted equities at fair value in C&I Leasing Plc, a leasing and business services conglomerate in Nigeria.

Fidelity Bank and First Bank of Nigeria hold 46 percent and 27.6 percent respectively in equities at fair value while Access Bank Plc has 16.5 percent. Also, Dimunition holds 9.6 percent stake.

A company’s equity means how many of its component assets are owned by the company, rather than leveraged with debts such as business loans, vehicle financing, mortgages, among others. It is the total value of a company’s assets, minus the sum of its liabilities.

Further analysis reveals that out of C&I Leasing Plc listed and unlisted equities – at fair value which stood at N59.8 million – Fidelity Bank equities are worth N27.7 million, First Bank of Nigeria(N16.5 million), Access Bank Plc (N9.88 million), Diminution (N5.73 million).

After-tax profit grew to N1.59 billion in the nine months of 2024 from N414.1 million in the same period of 2023 while C&I Leasing Plc’s gross earnings increased to N28.9 billion from N16.3 billion.
https://businessday.ng/companies/article/fidelity-fbn-own-most-equity-stakes-in-ci-leasing-plc/

Daarcomm and Honeywell still on the zone of Full Bids?

Na so the other one take go die inside swimming pool. Make una continue. Life is deeper than Nollywood.

A rich guy today can be a beggar tomorrow.
A virgin girl today can be a Pruvstitute tomorrow.

Fellas, be careful what you pray and wish for.

Life is deeper than Nollywood.