₦airaland Forum

Apogee14:
Micheal ibrus Wikipedia page categorically states that the family was very poor before he made the money. I suggest you go read Micheal ibru Wikipedia

Just shut up your mouth & learn. I have read multiple articles on the Ibrus for many years and I haven't read anywhere that they were "very poor" before Michael Ibru. That Stella blog article you posted is basically the first time I have seen such & a blog is not an authoritative source. No reputable source has ever used the word "poor" to describe the Ibru family background. And there's no where on wikipedia that states that they were poor or very poor.

Apogee14:
here is the real story. Family of 7 and his mum struggled and sold fish in the market to support all 7 children
https://www.stelladimokokorkus.com/2024/09/the-story-of-nigerias-1st-frozen-fish.html?m=1

Stella blog 😅😅. Guy ehhh. It's no longer wikipedia? So this is what you deem an authoritative source? Mteew

If you had half a brain, you would ask yourself how you consider a chief nursing superintendent who sent all his kids to Igbobi college poor. This was privilege back in the day

Apogee14:
bro the man was a missionary worker. Those guys who were shorts and ride bicycle around in those days. Imagine a missionary worker with children ? That's poverty. You people just like to hype things.

Oga show us where wikipedia stated that they were "very poor". Don't shift goal post. You didn't see where wikipedia also stated that they are descended from a wealthy maternal line? Guy please shift.

Chief Peter Ibru was not a wealthy man neither was he a "very poor" man as you claim. The man was comfortable.

Apogee14:
The Ibrus edit their own Wikipedia and if they state that the family was poor before Micheal made the money then I would believe them not some random guy on nairaland lol

I have also read that same wikipedia and don't see anywhere it was stated that they were "very poor". So unless you can provide it, SHIFT.

Apogee14:
Micheal ibrus Wikipedia page categorically states that the family was very poor before he made the money. I suggest you go read Micheal ibru Wikipedia

Where did it state that Olorogun's family was "very poor"? You people just like blind argument.

Apogee14:
Micheal ibrus Wikipedia page categorically states that the family was very poor before he made the money. I suggest you go read Micheal ibru Wikipedia

You are just shouting wikipedia wikipedia. How is someone who was an educated nurse and chief nursing superintendent of one of Eko's foremost hospitals in the 1940s poor? Omo I don't have time for this type of argument. Worst set of people to argue with are incorrigible folks who are not open to unlearning and relearning. Good luck

UncleJJ:
Ibrus new money; how? When Nigeria started in 1914, gained independence in 1960, and sovereignty in 1963.

The Ibrus, and Modandola where the biggest and baddest. Dantata started earlier, through his mother, but only begun to gain "National" prominence when the Ibrus where already balling out of control.

Just like Dantata started with the great grandmother who was a successful trader; the Ibru's started with a great grandfather ; Chief Peter Ibru.

To really confirm old money in Nigeria; that money must be connected to UAC (Royal Niger Company). Dantata, Ibru did business with UAC. Ojukwu worked with John Holt. Ibru infact, worked, and eventually did business with UAC. Dantata at that time was the largest grain exporter with UAC, with a 500,000 pound credit line in the 1920's

I already cleared that guy. He was measuring it by them Rothschild level (200yrs plus) of old money that's why he called the Ibrus new money.

airsaylongcome:
Ah! Oboden is the MD of Midwestern?

yes oh. The Ibrus are shareholders in the company so no surprises!!

naptu2:
Cecilia Ibru = CEO of Oceanic Bank.

Maiden Ibru = Chairperson of Guardian Newspapers.

Elvina Ibru = Broadcaster, musician and actress.

Emmanuel Ibru the Palm oil tycoon.Very Lowkey & unassuming.

Off course, Oboden Ibru, CEO/MD of Midwestern Oil & Gas company & former ED/COO of Oceanic bank.

RIP Olorogun Oskar Ibru.

My heartfelt Condolences to the Ibru dynasty.

Apogee14:
The ibrus are not old money. The ibrus are new money. The man who started the ibru dynasty died in 2002 or something. Prior to that man the ibru was a poor family. The man made his money like 60 years ago and then all his children took over. It's first generation wealth. That's not old money. The Rothschild's in Europe trace their wealth back like 500 plus years ago. That's old money

While I get your general point, in the Nigerian context, the Ibru dynasty (along with the Dantatas, Folawiyos, etc) is considered old money. The wealth predates Nigeria's independence. Old money in America will also be considered new money to European old money. So it depends on the context and society in question.

Maternally, The Ibrus also come from money (through Osadjere). Osadjere's wealth dates back to the 19th century. Check out the family's wikipedia page.

PS: Michael Ibru's father was not a poor man. He was an educated nurse and rose to the position of Chief nursing superintendent at Igbobi hospital, Lagos in the 40s. He was comfortable.

The Lagos Division of Federal High Court has dismissed a suit filed by Oboden Ibru, one of the sons of Olorogun Michael Ibru, challenging the transfer of 999.999 ordinary shares belonging to his late father in Oteri Holdings Limited to Braze Limited and Urbieje Investment Limited respectively.

Delivering judgment in the suit marked FHC/L/CS/676/2017 filed by Oboden against Oteri Holdings Limited and six others, Justice Chukwujekwu Aneke held that the judgment the plaintiff (Oboden) based his case on has been set aside by the Court of Appeal.

The first to seventh defendants in the suit are Oteri Holdings Limited, Braze Limited, Urbieje Investment Limited, Olorogun Oskar Ibru, Otunba Emmanuel Ibru, Chief Peter Ibru and the Corporate Affairs Commission.

The plaintiff had urged the court to determine whether Olorogun Michael Ibru’s purported transfer of his 999.999 ordinary shares in the first defendant to the second and third defendants is invalid and of no effect whatsoever in view of and by virtue of Justice John Tsoho’s judgment delivered on April 17, 2014, in suit number FHC/L/CS/981/06.

He also prayed the court to determine whether, in view of Justice Tsoho’s judgment, the fourth to the sixth defendants (Oskar Ibru, Emmanuel Ibru & Peter Ibru) being members and directors of the second and third defendants are in that capacity still entitled to exercise any right, powers or duties over the management, governance and control of Oteri Holdings Limited.

Consequently, he urged the court to declare Olorogun Michael Ibru’s purported transfer of his 999.999 ordinary shares in the 1st defendant to the 2nd and 3rd defendants invalid and of no effect whatsoever, in view of and by virtue of the judgment delivered by Tsoho.

But, the first to sixth defendants, in their counter-affidavit of 30 paragraphs deposed to by the fifth defendant, stated that contrary to paragraph four of the affidavit in support of the plaintiff’s originating summons, the suit instituted by the 1st defendant in suit number FHC/L/CS/981/06 was not in relation to the ownership of the shares of the first defendant but the wrongful transfer of his shares in Aero Contractors Company Nigeria to Mofta West Africa Ltd, a company owned by the plaintiff.

Contrary to paragraph six of the affidavit in support of the plaintiff’s originating summons, Justice Tsoho’s entire judgment, delivered on April 17, 2014, is now the subject of appeal in CA/L/661/14. They further stated that the late Olorogun Michael Ibru, having divested himself of his majority shares in the 1st defendant company and transferred them to the second and third defendants since 1988, the fourth, fifth, and sixth Defendants have been managing the businesses of the 1st defendant and its subsidiaries since 1988 to the knowledge of the plaintiff.

They stated that the issue submitted for adjudication by the first defendant before Justice Tsoho was whether the first defendant was entitled to treat as null and void the purported transfer of its shares in Aero Contractors Company Nigeria Limited, to the plaintiff’s company, Mofta West Africa Ltd, and not the ownership or shareholdings of the second and third defendants in the first defendant company.

However, in his judgment, Justice Aneke said, “The truth of the matter is that the judgment of this court in Exhibit P1 in suit number FHC/L/CS/981/06 per Hon. Justice J.T. Tsoho relied upon by the plaintiff in the instant suit did not grant anything. It merely dismissed the application of Oteri Holdings Ltd. As a matter of fact, with the Court of Appeal granting all the reliefs claimed by the applicant in Exhibit P1, the plaintiff’s case in the instant suit has collapsed

This is so because Exhibit P1, on which the plaintiff based his case, has been set aside by the Court of Appeal. The plaintiff’s case, therefore, must be dismissed and is hereby dismissed. Cost of N250,000.00 is granted in favour of the 1st to sixth defendants.”

Source: ThisDay Newspaper

OGterry:
The govt won't hear this. Irresponsible lots. We've been left behind on the global level. Just Look at the amount of palm oil dollar billionaires out of Indonesia. Mteew

A barrel of crude oil is 87$ now while a barrel of palm oil is over $600 currently. Omo!

KunleMax:
Emmanuel Ibru (born 21 December 1962) is a Nigerian businessman, palm oil magnate and football administrator. He is the Chief Executive Officer of Aden River Estates Limited, an Agro-allied industrial subsidiary of the Ibru organization. He was also the president of the Nigeria-Brazil chamber of commerce and industry.

BACKGROUND & EDUCATION

Ibru is the son of Olorogun Michael Ibru and Elsie Nelly Ibru. He attended the Millfield school between 1976 and 1980 for 'A' levels. He earned a bachelor of science in business administration and management from Skidmore college, New York, in 1984 and obtained an MBA in finance from Atlanta University bussiness school in 1988.

CAREER

Ibru is the Vice Chairman & Group executive director of the Ibru organization, a private multinational conglomerate with interest in shipping, fisheries, port management , agriculture, banking, aviation, oil and gas, amongst others.

He is the president of AS Racine FC that has produced stars like osaze Odemwingie, brown Ideye, Fegor Ogude, Onyekachi Okonkwo and Olubayo Adefemi. The club serves as a feeder team to local and international clubs. Victor Agali, former super eagles striker is the head coach of the club. Ibru was also a board member of the Nigeria football federation (NFF) btw 2002 and 2005.

Chief Ibru is the Chairman of the Plantation Owners Forum Of Nigeria (POFON). POFON is a body of the largest industrial palm oil, Cocoa and rubber producers with members such as: Okomu oil palm company, Presco Plc, Aden River Estates, Siat Nigeria, JB Farms, PZ Wilmar, IMC, Dansa Agro Allied, Dufil and Agripalm (flour mills of Nigeria Plc).


PERSONAL LIFE

Ibru is a member of the Ikoyi club, metropolitan club and Apapa Club. He was Former president of the Apapa Club and is the present commodore of the Apapa Boat Club.

[url][/url]=https://www.thisdaylive.com/index.php/2017/06/03/emmanuel-ibru-a-bold-foray-into-deaf-football[url][/url]

[url][/url]=https://tribuneonlineng.com/what-we-are-doing-to-salvage-nigerias-oil-palm-industry-ibru-pofon-chairman/[url][/url]

[url][/url]=https://www.vanguardngr.com/2011/10/through-partnership-nigeria-can-learn-from-brazil’s-economic-development-ibru/[url][/url]

[url][/url]=https://edostate.gov.ng/obaseki-targets-100000-hectare-oil-palm-plantation-in-3-years/[url][/url]

[url][/url]=https://allafrica.com/stories/201108241147.html[url][/url]

Emmanuel Ibru (born 21 December 1962) is a Nigerian businessman, palm oil magnate and football executive. He is the MD/CEO of Aden River Estates Limited, an Agro-allied subsidiary of the Ibru organization.

BACKGROUND & EDUCATION

Ibru is the son of Olorogun Michael Ibru and Elsie Nelly Ibru. He attended the Millfield school between 1976 and 1980 for 'A' levels. He earned a bachelor of science in business administration and management from Skidmore college, New York, in 1984 and obtained an MBA in finance from Atlanta University bussiness school in 1987.

CAREER

Ibru is the Vice Chairman & Group executive director of the Ibru organization, a private multinational conglomerate with interest in shipping, fisheries, port operations , agriculture, banking, aviation, oil and gas, amongst others. Ibru maintains a direct oversight of the the Group's investment in fisheries and agriculture.

He is the owner of AS Racine FC that has produced stars like osaze Odemwingie, brown Ideye, Fegor Ogude, Onyekachi Okonkwo, Olubayo Adefemi, Oghenekaro Etebo, amongst others. The club serves as a feeder team to local and international clubs. Victor Agali, former super eagles striker is the head coach of the club. Ibru was also a board member of the Nigeria football federation (NFF) between 2002 and 2005.

Chief Ibru is the Chairman of the Plantation Owners Forum Of Nigeria (POFON). POFON is a body of the largest industrial palm oil, Cocoa and rubber producers with members such as: Okomu oil palm company, Presco Plc, Aden River Estates, Siat Nigeria, JB Farms, PZ Wilmar, IMC, Dansa Agro Allied (Dangote Group), Dufil Prima (indomie) and Agripalm (flour mills of Nigeria Plc).

He was the president of the Nigeria-Brazil chamber of commerce and industry (NBCCI) between 2010 and 2020, where he pushed for greater trade co-operation between both countries. He also advocated for the establishment of a direct flight from Nigeria to Brazil.


PERSONAL LIFE

Ibru is a member of the Ikoyi club, Metropolitan Club and Apapa club. He is a former president of Apapa club and commodore of the Apapa boat club.


Estimated Net worth: $470m

Lifemanage:
Na now I see am say na u be the deal man...u try. Respects

😂 Baba see the light.

okoro:
mrvitalis
Here is another pig and idiot saying Lagos is a no mans land

There's really no need for the denigrating cuss words. But Lagos is not a "no man's" land. Sergio101 take note.

casualobserver:
Abeg I have told you people to stop citing me in your beer parkour gossips. I deal in facts and evidence. When I make a claim I provide evidence/ citations. Dangote and Adenuga alone are worth over $20b. Your so called article where is it?
Any properly educated person who has been to a university and written a dissertation knows you have to provide citation for your claims. The whole point in going to university is to train the mind in how to think critically and based on evidence…..not “they said”, “they said”! PWC can never cite IBRU as top3 in Nigeria. I challenge you to provide the article.


I repeat the Ibrus are past glory and yesterday’s story and I would be shocked if they are collectively worth $1b today. I stand by by claim.


You people should leave me out of your quackery and dick measuring contest. If it were your own dicks I might even understand. I don’t know what kind of grown men spend months talking about, are so obsessed with and take delight in making false claims about another man’s dick.
What do you gain from it?

You see how foolish you are? No one quoted you. Na you jump come here.

Dangote is worth 13.5B$, Rabiu 7.6b$, Adenuga $5.6b = $26.7B. (2023 networth).

PWC senior partner, Sam Abu, stated that the top 100 billionaires in Nigeria are worth $68B. Which leaves 97 billionaires with the remaining $41.3B, that's atleast $400m per billionaire.

Mugu So how's Elumelu worth $135m? Or Elumelu is not amongst the top 100 billionaires in Nigeria?

He also stated that the three leading family bussinesses in Nigeria are worth over $20b, (Dangote, Ibru, Dantata, Folawiyo), were the family bussinesses mentioned in that article. Infact, the SA to president Tinubu on bussiness environment, specifically identified the Ibru family. Go read the article online.

You don't want us to count on the professional
opinion of a top asset manager, or the verifiable statement made by a PWC senior partner, or even the word of the SA to the president, but you want us to believe you a faceless font on nairaland? Even when you have shown that you are incorrigible and foolish.

Ibru family is old glory yet most of their bussinesses and investments are still standing, and they are still being mentioned as one of the top family business in Nigeria even in 2023. This same family was rated by Forbes as one of the top ten leading family bussiness in AFRICA in 2014. Dantata & Folawiyo families are also old glory & yesterday's story too? Ode!!

How the simplest of points fly over your head is beyond me. But then again, you have a porous brain.

You clearly have a thing against the Ibrus. Maybe you or your parents were sacked from one of their companies, or your family lost money in oceanic bank. Or something else...

Same you said Aden rivers is not a major palm oil player in Nigeria. PZ Wilmar documents were posted here that proved you wrong. You for respond to that one nah. Shameless fool.


See ehn!! You be mad person! abeg get out.

OGterry:
I just finished reading the article and my key take away is PWC saying the three leading family businesses in Nigeria are worth over $20B. And they cited Dangote, Ibru, dantata, Folawiyo, Doyin, as the leading family businesses.

Does this not effectively put to rest the Ibru networth contest btw kalu & casualobserver? Because if dangote is worth about $12b (judging from the value of his companies on NSE & public verified networth), that leaves $8B btw the other top two family companies, abi?

Or am I missing something?

That's what it means ultimately. The family should be presently worth btw $3-5B like Mr. Kalu earlier stated. He's been spot on.

Another point I took away from the article is that the PWC senior partner stated that the top 100 billionaires in Nigeria have a combined networth of $68B. Now Dangote, Rabiu and Adenuga the three top verifiable dollar billionaires are worth $26B combined.

That leaves $42B btw 97 other billionaires in Nigeria. $42b ÷ 97, tells us that these other 97 billionaires are worth an estimated $450m each.

So how is it possible that the Ibru family is worth just $500m or that Elumelu is worth $135m?

You realize that when you put casualobserver's argument under a simple scrutiny, it does not track or make sense.


We didn't have a recent verifiable public document or statement through out this argument, but thank God one came out just last month. We have an idea now. Anyone arguing further is just being deliberately foolish.

KunleMax:
Just last month, Shebi the special adviser to president Tinubu on bussiness economy said the likes of Ibru family, Dantata/Dangote family, Folawiyo, etc contribute over $200B to Nigeria's GDP. And PWC Nigeria has said the top 3 leading family bussinesses in Nigeria has a market cap of about $20b, and we all know the leading family conglomerates in Nigeria. Was Jowizaza and his father's name/bussiness mentioned? Or the Okunbor folks? they are not really relevant in the grand scheme of things. They were classified as "others", if they were even considered at all.

Talking about we should forget old name as if TotalEnergies, Ecobank, Midwestern Oil, Ibru port, Jetty, etc don't all exist till date.

You guys should keep arguing nonsense. I like how receipts come out everyday to debunk all these misyarnings here. E just be like say FG know say we dey on this topic.

And they are still being mentioned in 2023. The Idans of Nigerian Generational wealth...

OGterry:
Alot of new kids on the block will Put the Ibrus to shame when it's a matter of cash? Big cap!! Dead the cap, man!!

This isn't even about old name. They still have new businesseses & investments. What are you even saying!!

And apart from Obaro, which Ibru kid was conspicuously extravagant?

He shot himself in the foot with that earlier comment, and only tried to re-package it later. He didn't say a lot of new kids on the block will put Obaro Ibru to shame, he said will put the "Ibrus" to shame (meaning the family). Then goes on to give the Okunbor kid and Jowizaza as example. Utter nonsense!!

The matter of cash he's talking about na all those loud doings, sponsoring of IG baddies, buying cars, and taking foreign trips oh. Nothing else.

Cos which multi-billion naira/dollar project (s) that actually requires the real "major liquidity" can you tie to these people or their family?

How important is their business to the Nigerian economy? if it fails, would anyone even notice? Would the Nigerian economy feel it? Would it make international headlines? Now this is the Level of wealth we are talking about here (the type of wealth that is foundational and instrumental to the success of the Nigerian/African economy). Don't get it twisted.

OGterry:
Alot of new kids on the block will Put the Ibrus to shame when it's a matter of cash? Big cap!! Dead the cap, man!!

This isn't even about old name. They still have new businesseses & investments. What are you even saying!!

And apart from Obaro, which Ibru kid was conspicuously extravagant?

Just last month, Shebi the special adviser to president Tinubu on bussiness economy said the likes of Ibru family, Dantata/Dangote family, Folawiyo, etc contribute over $200B to Nigeria's GDP. And PWC Nigeria has said the top 3 leading family bussinesses in Nigeria has a market cap of about $20b, and we all know the leading family conglomerates in Nigeria. Was Jowizaza and his father's name/bussiness mentioned? Or the Okunbor folks? they are not really relevant in the grand scheme of things. They were classified as "others", if they were even considered at all.

Talking about we should forget old name as if TotalEnergies, Ecobank, Midwestern Oil, Ibru port, Jetty, etc don't all exist till date.

You guys should keep arguing nonsense. I like how receipts come out everyday to debunk all these misyarnings here. E just be like say FG know say we dey on this topic.

Bizibi:
jowizaza Come on,this is ibru oooh,abeg calm down.

This!!

OGterry:
How much is Jowi Zaza's father worth sef? What major businesses do they own? Abi you are rating Jowi zaza by the shiny IG life?

What does Jowizaza do? Tell us...

Peep the screenshot I attached below. You will find a lot of them like this on Twitter comparing Jowizaza to the likes of Dangote, Otedola, etc just cos of that loud social media PR.

When in reality, even Jowizaza's father is not worth 5% of these men they compare his son to. Abi Jowizaza is richer than his father?

If you tell me that Jowizaza is personally liquid due to drugs or fraud like Hushpuppi & woody dem, then that's understandable. Because what bussiness does he have? Even his father's bussiness no touch like that.

If we are talking about "wealth wealth", please you people should stop mentioning Jowizaza and his father when we are talking about the Rabius, Ibrus, Dangotes, Folawiyos, Ovias, and Otedolas of this world. It's foolish, disrespectful and leaves a sour taste in the mouth.

I told him earlier that we are discussing a certain cadre of Wealth here.

ChidiKalu:
Yes. But both the Ibru and Dantata families have maintained generational wealth. The Folawiyos have also maintained it.

You are right. Googled and found this. I love receipt.

Ahmeduana:
You don't know the Ibru family, you are only narrating from there later day events, ask around who owns continental fisheries, they owns lot of 5 ⭐ hotels, most lands in Apapa belongs to Ibrus dynasty, and almost all the family members are millionaires or billionaires, they also owns Guardian news paper.

This was Just last month oh. Ignorant Online skunks want dey chat silly like they "really" know a thing about the Ibru Dynasty.

OGterry:
Haha. This is god-level evidence.

Cos I can't comprehend how someone can be chairman of an association meant for the biggest boys in the palm oil industry, but you say such a person is a "small boy". The disrespect though!!

He drew a false parallel with Fayose being chairman of the governors forum despite Ekiti not being the biggest/richest state. But the Fact is; Ekiti is a state, and Fayose is a governor, so he meets the criteria for being a member of that forum. If Ekiti wasn't a state, and Fayose wasn't a governor, there's no way he would be elected chairman of the Nigerian governors forum. A local govt chairman cannot be a member of the governors forum, much less being made chairman of the Nigerian governors forum.

So for Aden rivers to be a member of POFON and has it's CEO heading the organisation, it explicitly means that aden rivers meets the organisation's criteria, and therefore is a major player in the palm oil industry & has one of the largest plantations in Nigeria. Nobody is saying it is the biggest.

I don't understand how this is even an argument. This is a no brainer.

Abeg make una leave that boy. He's just ignorant, arrogant & stupid.

Aden Rivers is one of the top palm oil coys/supplier in Nigeria with the likes of Siat, Okomu & Presco as one can clearly see from the PZ Wilmar documents but the idiot has been arguing otherwise over a month.

Chief Emmanuel Ibru is the head of the palm oil industry in Nigeria, you can't discuss the industry on a high level without his name popping up. The likes of Wilmar, JB, Siat, Okomu & Presco all work with him. Person of such caliber is who he referred to as a "small boy" in the industry, it's just like calling Obi Jackson or Benedict peters small boys simply because they don't own the biggest firms in the petroleum industry mteew. Internet Sha...People fit stay their one room apartment dey type rubbish.

Hedonisco:
I hear some people saying the entire dynasty may be worth at least $500m. Fair enough. Net worth. Not money in the bank.

You do know or have heard that some fraud boys run schemes of multiple millions of dollars. Some of these boys have $10m cash stashed in bitcoin. We heard of woodberry at least.

If the whole Ibru clan's complicated network of assets may be worth $500m, then how many children are in the extended Ibru clan, and how much cash do you think OBARO personally has access to? That's my point.

As of today, in terms of liquidity, he will be run out of town by one nonentity who was a child running around naked in probably one ghetto in Agege in 2002 when Obaro was already Obaro.

By this logic, Hushpuppi was caught with $40m in Dubai, and according to that yeye casualobserver guy, Tony Elumelu is worth $135m. So it means Hushpuppi had about 30% of Elumelu's networth in cash?

Which also implies that Hushpuppi would casually put Tony Elumelu to shame when it's a Matter of cash? He would run him out of town? (To quote you).