₦airaland Forum

Bizibi:
abeg calm down.....which year jowizaza graduate from the private University in the east that you are comparing....abeg make I no laugh.

Burob:
I tell you say I dey work for Forbes or Bloomberg?

casualobserver:
Stop mentioning my name to deliberately gain my attention. Especially if you don’t want me to out you as unexposed simpletons and hillbillies.

Hedonisco:
Unfortunately I can't say much about that. The devil is always in the details.

casualobserver:
I gave you verifiable facts and figure including sources. You still come here spewing road side Motorpark tales. I thought you would have some shame and tell us how Elumelu owns 30% of Apple and your source. You are the one making a claim…prove it.

I reply because others are reading, I am sure those with a brain know who is credible and who is just spewing fables and beer parkour tales of a time gone by. Clearly you get your info from Alex reports and all those hype blogs proclaiming everybody billionaire.

As I said Elumelu is a good example of what happenned to the Ibrus and the destruction of wealth by the devaluation of the naira for Nigerian families whose businesses are based on the Nigerian economy and earn in naira. In 2015 Forbes ranked Elumelu as Worth $700m (he had fallen from his 2014 ranking) but by 2016 he had dropped off Forbes radar..meaning they were no longer interested in ranking him. What happenned in 2015? Exactly naira started to fall. Elumelu has little else aside from UBA and Transcorp. if you know anything else you are free to share. The naira has gone from $150/160 in 2015 to $1000 as at yesterday. His wealth is based on UBA and transcorp?heirs holdings. I have al;ready provided the links. his holding in transcorp and UBA were worth $135m as at yesterday...this is fact not rumour, not noise, not wild assertions. Same fate befell the Ibrus and many other families!!! Divide Tony's $700m by his $135M of today and you get approximately 6. Divide the $1000:1 of today by the $160:1 of 2015 and you get approximately 6. That is the effect of currency devaluation! The good thing is at least in the case of Elumelu, his wealth in 2015 and 2023 is documented and verifiable...only a retard will deny facts. You are seeing what happenned to the Ibrus playing out with ELumelu, you refuse to beleive both because you are hanging on to a time that once was. however, that was then and this is now. As at today neither are billionaires, neither are as rich as they once were, they may rise again tomorrow but not as at today. The lesson here is the effect of the brutal erosion of wealth by Naira depreciation, so stop getting excited because your property or stocks went up in Naira. N1m is less than $1000 dollars, 9 years ago it was $6,000…..in 1984 the Ibrus N1m was worth $1.6m, today it is worth less than $1000, not enough to buy an economy ticket to London. You may find this hard to beleive but what happenned between the 1985 and early 94 was worse than the devaluation of 2015-2023. Naira went from being stronger than the dollar ($1:N0.6) to ($1:N20) so if anything the impact on the Ibrus would have beeen worse than what we can see with evidence happening to Elumelu right before our eyes.


https://www.forbes.com/profile/tony-elumelu/?sh=5d04b0b118cb

I know you are retarded and will not see how you can lose your wealth with devaluation but I hope those with brains can see what happenned to the Ibrus and why I say if they were Billionaires at some point in the 80s (which i doubt) they are certainly not today.

This time I will ignore as I can literally feel my IQ dropping the more I engage you.

Burob:
E be like say you never take your medicine today?

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.

Hedonisco:
Lol. I know it is not a comprehension problem. It is an impatience problem.

Read my post again slowly and understand my unambiguous point: Jowizaza is richer and more liquid than OBARO Ibru and many of the Ibru kids, one on one. And again I repeat currently, Jowi will run OBARO out of town when it boils down to the money doings that OBARO was infamous for in his prime.

If you're doubting that or relating it to Jowizaza's dad's so-called wealth, then you'll are deluded. This even has nothing to do with Jowi's father or his potential inheritance when he dies. I'm talking about essentially Self-made Jowizaza.

casualobserver:
You are an ignoramus and a peasant who suffers from small mindedness and a poverty mentality. Anybody with money is a billionaire to you.

I had professional dealings with the oil palm industry that’s why I have some knowledge because I was involved in some financing deals. I got to know of some of the big players at the time and that’s why I knew of Wilmer, Presco, okomu and JB. I never heard of Aden because as you yourself have unknowingly confirmed they were small time players. 500 hectares is just above subsistence farming!!!! They are only just trying to grow. In the grand scheme of things there is no big player in the Nigerian oil palm industry. Companies are acquiring and. Developing 100,000 hectares at a go in countries like Ivory Coast you are here touting 5,000 hectares? Go and investigate what Willmar is doing and the partners of Presco in other African countries and you will realize that in reality there is no true big player in Nigeria yet.. ibru may be chairman of POFON but he is a smal boy in the oil palm industry even in Nigeria. You are very small time no wonder a millionaire is a billionaire to you.


As for Elumelu, his companies are public companies and the records and his holdings are public. His known assets are Uba and transcorp. As at yesterday those holdings are worth $135m. If you dispute that tell us where his other wealth is derived from, back it up with evidence. don’t come here talking as if you are in a roadside beer parkour. When I posted I gave you backed up facts. You are dealing in rumor, hype and speculation.

There is no doubt Elumelu was richer that he is today but like I have been telling you, just like the Ibru’s, over time the devaluation of the Naira deals with most Nigerian business men whose businesses are primarily derived in Nigerian and the Naira. At the start of my involvement in this thread, I confirmed the Ibru’s were wealthy, I confirmed they were top of the tree, I even said I know for a fact that one of them bought Ilashe beach though I don’t know the status of that as I know there was some legal tussle but I will not sanction lies, hype and falsehoods. There are not billionaires…full stop. I don’t want to get personal and reveal info here that I shouldn’t. My purpose is not to attack the Ibrus, I have nothing against them but I even know some of them who are struggling financially.

It is a pity this forum does not have an ignore function as it constantly exposes one to dimwits.

I have been guilty on this platform of ignoring the greats words of wisdom. Proverbs 26:4 - "Answer not a fool according to his folly; lest you also be like him"


Nonetheless consider yourself ignored.

Can you imagine this nincompoop talking about 500 hectares as big player….nonsense!,,, like I said I was involved in providing finance for one of the major oil palm companies in Nigeria that is why I can speak with authority. As part of that project I visited Okomu and JB farms to asses viability on behalf of my firm before arriving at a decision on whether to approve the financing request. At the time the list of all the major players including adapalm, rispalm okomu, Presco, etc came up, nobody mentioned Aden and rightfully so. There are numerous people in Nigeria with 500 hectares…they all failed. Too civil servants, retired military officers etc, many of them have 500-100 ha of farm land….they all fail because it is not economically viable especially for plantation farming. There is nothing like medium scale when it comes to oil palm. You are either small Substinence 30 ha or you are big…10000ha+, anything in between is a sure path to financial ruin. Which is why for 60 years they neither made head or tail.

1) I repeat oil palm plantations are not viable below 10,000 ha … that’s why many Nigerians who venture into them fail and you don’t see many
2) the profit is approx $1-2k per hectare…..only after yr 7

Somebody on 500 ha is small time or running at a loss or will eventually fold up which is why it took your Ibru’s 60 years to get to 2000 hectares and why he never registered on the list of major oil palm players.

Bizibi:
I am from Delta State so some of us know that family very well. Who is jowizaza, even his family wealth is not half of ibru. That family is really industrious,I am still surprise at how they kept growing their wealth. I am still mad at Cecilia ibru for the mess she made at oceanic bank.

I don't know if they are billionaire in dollars now but no one really knows their present networth.

Hedonisco:
Even Tunde Folawiyo alone is wealthier than the Adelekes. But he is dead silent.

That said, it is ridiculous to say that the Ibrus are wealthier than Dangote. Not anywhere close to close. Forget old name. In fact, a lot of the new kids on the block with access to new money schemes (related or unrelated to government funds) would casually put the Ibrus to shame when it is a matter of cash. Even their previously conspicuously extravagant children (Obaro and Co) have been forced into hiding because they simply lack contemporary liquidity and can no longer compete!

Hedonisco:
Haba. By the Ibrus I mean their kids na. How many first generation Ibrus are still alive? Is it Michael, Felix, or... Emm (what's his name) the one who owned Guardian and Sheraton?

So really. Who are the current "Ibrus"? Is it Oskar? Oboden? Obaro? Bet mind the smaller kiddos. They can't compete with the contemporary kids on the block.. Facts.

ChidiKalu:
I came back to this comment cos I screenshoted and shared on my WhatsApp and the comments were absolutely hilarious.

Obaro Ibru have been balling since birth. Baba is now about 50 and still living la vida da loca in UAE - 5 decades and counting...

But you are mentioning Fraud boys that just came into money maybe 2-5yrs ago that also blow their "lick" fast and go broke within a short time? They should try ballin for atleast 3 decades consecutively let's see how "long" and "solid" their money are. How long has Jowi and Osahon Okunbor been on the conspicuous lifestyle scene? Lmao.

FYI The Ibrus are generally quiet people. The most conspicuous/reckless Ibrus were Obaro & Tive Ibru alongside their squad which consisted of other wealthy kids like Paddy & Jide Adenuga. But these people are now past 40yrs, some of them are now even married with kids. That youthful exuberance and energy is no longer there. Even the Adenuga boys left the scene and went low-key. Are you saying they went quiet because the Adenuga family lacks liquidity today? Tive Ibru was even cut off from the family finances due to his irresponsible & reckless lifestyle (he's a druggie).



PS: Captain Hosa Okunbor left behind about 11 kids (most of them are young), Osahon Okunbor will have to do a lot of work taking care of those kids, he's 36 now, let's see if he can maintain the money he inherited for another ten years.

ChidiKalu:
I came back to this comment cos I screenshoted and shared on my WhatsApp and the comments were absolutely hilarious.

Obaro Ibru have been balling since birth. Baba is now about 50 and still living la vida da loca in UAE - 5 decades and counting...

But you are mentioning Fraud boys that just came into money maybe 2-5yrs ago that also blow their "lick" fast and go broke within a short time? They should try ballin for atleast 3 decades consecutively let's see how "long" and "solid" their money are. How long has Jowi and Osahon Okunbor been on the conspicuous lifestyle scene? Lmao.

The Ibrus are generally quiet people. The most conspicuous/reckless Ibrus were Obaro & Tive Ibru alongside their squad which consisted of other wealthy kids like Paddy & Jide Adenuga. But these people are now past 40yrs, some of them are now even married with kids. That youthful exuberance and energy is no longer there. Even the Adenuga boys left the scene and went low-key. Are you saying they went quiet because the Adenuga family lacks liquidity today? Tive Ibru was even cut off from the family finances due to his irresponsible & reckless lifestyle (he's a druggie).



PS: Captain Hosa Okunbor left behind about 11 kids (most of them are young), Osahon Okunbor will have to do a lot of work taking care of those kids, he's 36 now, let's see if he can maintain the money he inherited for another ten years.

Hedonisco:
Abeg make I laugh. Even some top level yahoo boys would dust his azz in that same Dubai.

Generally I don't need to mention some heavy names but trust me, 'ordinary' Jowi, Captain Okunbor's heir, and many more will run Obaro out of own.

FSBoperator:
The Ibru family from Ughelli, Delta state own Sheraton Hotel, Ikeja, Guardian Newspapers , Aerocontractors, several high brow business buildings and high rise in Lagos Island and VI. The family owns substantial jetty real estate in Apapa which served as their first fishing business jetties and cold room. The West Minister cold room and fish processing factory that ohus now occupy to sell their imported second hand cheap home appliances is owned by Ibru family.

The Ibru family is the only surviving family business dynasty in Nigeria. The only other family that comes close is the Dantata group which Dangote is descended from.

Okiete Ibo JuJu that is very common among Anambra business folk will not see wealth translate beyond the life of the one who mortgaged his soul to Ekwensu aka Satan does not come close to the real honest wealth of the Ibru family dynasty .

If the Patriarch Ibru was heebo we for no hear word.

Silent honest and humble billionaire family that has kept wealth in the loop because they do honest business.

KunleMax:
This na Oil & gas coy co-owned by a third generation Ibru (Chris). This is not part of the Ibru family conglomerate oh, na him personal business.

Oya tell us which bussiness Jowi zaza get or dey control wey dey make una dey always over hype am say him get funds. Their main bussiness na Nipco. How much revenue does Nipco make? We dey Apapa...we know people wey dey run Apapa.

Social fame & Doings no be wealth!!

KunleMax:
[img][/img] Go watch Nenesi Ibru wedding videos make you see true wealth and class. You think say na about sponsoring and sleeping with Lagos IG baddies or to dey loud on social media we dey discuss here? mteew

No be only Jowizaza and captain Okunbor heir. Wetin be the level of the company/investment wey Dem and their papa dey control? Tell us wetin Dem get. Big bosses like Cletus Ibeto na Ibrus tenant for Apapa sef.

FYI We are discussing a certain "cadre" of wealth here. No be Jowizaza matter or him papa level.

LagosFirstSon:
Hmm!! You people have bad mouth Lmao

ChidiKalu:
Lol. Bro Make we no turn this thread to tribal war abeg. We've seen enough on Twitter. Thank you.

ChidiKalu:
I totally agree Twitter Igbo vs Yoruba is a crazy affair.

KunleMax:
Wait oh!! When you talked about the new kids on the block that would casually put the Ibrus to shame when it's a Matter of cash, na Jowi zaza you dey talk about? Oluwa oh 😂 😂. Jowi zaza and Ibru family in the same sentence, how nah? Omo see wetin Social media doings don cause oh. Dem no even born him papa.

Make I no too reason am...make I give you benefit of the doubt believe say na just Obaro & Jowi you dey strictly compare sha. Omo!!

WhizdomXX:
Chidikalu thank you.

KunleMax:
"alot of the new kids on the block with access to new money schemes (related or unrelated to govt funds) would casually put the Ibrus to shame when it is a matter of cash"? Nonsense talk!! Mteew

The Ibrus are invested in real estate, Agriculture, media, hospitality, aviation, education, Oil & Gas, shipping, banking, Port operations, etc. Even govt funds sef follow (Subsidy). The only relevant "new sector" I know they are not invested in currently is Telecoms.

How can you be more liquid (cash) than people who run daily port operations, receive shipping, terminal & jetty fees in dollars, plus commercial warehousing fees? They own arguably the biggest warehouse in Nigeria & the largest indigenous shipping fleet. A family that controls almost the entire coastline of tin can? Just dey play oh !!!

So no vex, name the "new money schemes" you dey talk about. Thank you.

ChidiKalu:
For the sake of this thread, I surfed the net hoping to find something related to the networth I mentioned but nothing substantial came up, which is understandable, cos it wasn't public. I stumbled upon some supporting stuffs though...

Pic 1 - is someone else supporting my earlier position on Olorogun's true networth from 2020. I guess she was privy to some court records (perhaps she's a lawyer).

Pic 2 & 3 - is an asset management guy with Citi from 2016.

Pic 4 - is just some casual discussion on the Ibrus from 2yrs ago.


Again, nothing substantial, but this gives one a passing idea of what I was saying earlier. I am sure of what I know and I don't need to break confidentiality to prove a point on the internet. But one thing is certain, you are not a finance guy, neither have you worked in IB/AM, so I
would understand Forbes being your only go-to source for wealth estimation. Like I stated earlier, Forbes usually doesn't have access to some private wealth. Some people shut them out.


Nevertheless, the $2.5B networth in public domain puts your $250m-$500m estimation to shame.

ChidiKalu:
For the sake of this thread, I surfed the net hoping to find something related to the networth I mentioned but nothing substantial came up, which is understandable, cos it wasn't public. I stumbled upon some supporting stuffs though...

Pic 1 - is someone else supporting my earlier position on Olorogun's true networth from 2020. I guess she was privy to some court records (perhaps she's a lawyer).

Pic 2 & 3 - is an asset management guy with Citi from 2016.

Pic 4 - is just some casual discussion on the Ibrus from 2yrs ago.


Again, nothing substantial, but this gives one a passing idea of what I was saying earlier. I am sure of what I know and I don't need to break confidentiality to prove a point on the internet. But one thing is certain, you are not a finance guy, neither have you worked in IB/AM, so I
would understand Forbes being your only go-to source for wealth estimation. Like I stated earlier, Forbes usually doesn't have access to some private wealth. Some people shut them out.


Nevertheless, the $2.5B networth in public domain puts your $250m-$500m estimation to shame.

ChidiKalu:
Good point man. Although Cecilia wasn't the owner of Oceanic bank. It was Chief's bank. She was only put in charge in 1997. Did quite a fine job growing the bank until she ran it aground.

The casualobserver guy is here yapping about dangote's wealth when in fact Dangote's bad loans was one of the things that killed oceanic.

Dangote is a govt bussinessman. He wouldn't have survived in the era of true entrepreneurs like Ibru, Akindele, Dantata, Folawiyo, Fajemirokun, Odutola, Ojukwu, etc.

ChidiKalu:
Let me go further and say they own/co-own/have significant stake in the following companies:

Total Nigeria Plc. NDEP Plc. Midwestern Oil and Gas Ltd, Ecobank parent company, Ibafon Oil Limited, etc.

They have considerable shipping operations across the globe (oil & Gas particularly), and there's also the fishing bussiness, etc.

Federal palace and Sheraton is always talked about but do you know the Ibrus own one very plush & exclusive resort in Aburi, Ghana? Few days ago, Oskar Ibru was hosted by the Ghanian president at the presidential villa in relation to some project he's got planned in Ghana. No media PR, No fanfare. Just a silent generational wealthy family maintaining their coins.

Their holdings alone in the UK run into tens of millions of dollars (the family is highly rated in London). But someone here is erroneously telling me that the Ibrus are worth $500m at best. SMH

ChidiKalu:
Re: His name is Otunba Emmanuel Ibru. Very silent and unassuming agro-billionaire. Exports Agro products to Holland and Brazil mostly.

casualobserver:
Oga I have football to watch. This is a topic that was buried months ago. I don’t have time to argue over another man’s wealth. If I can’t make my own let me enjoy my life, I have ball to watch.

casualobserver:
I think you are getting carried away with the hype. In the 1980s when the Ibru’s were at their peak the whole of Coca Cola world wide was not worth $24b. Our entire federal budget in 1992 for example was less than $10b. Warren Buffet was only worth $3b in 1990. In 1992 the entire GDP of Nigeria was $42b! Having $100m in those days is like having $1b today. My personal opinion: no Nigerian was worth $1b uptill the 1990s except those who stole from government. The economy was just not big enough to make you a billionaire. Feeling or appearing to have stupendous wealth is. It the same as actually being worth $1b. Again I repeat $1b was not beans in the 70s to 90s when the Ibru’s were at their peak! $1b of 1970,1980 or 1990 is not $1b of 2023.

Like many Nigerian businessmen of the time, their assets and businesses were mainly in Naira and we know what happened to the Naira. Devaluation eroded whatever wealth they had.

Todays billion is not the same as $billion of the 80s. I personally doubt they ever reached the billion mark but I am willing to give the benefit of doubt but I am 100% sure they were never multi billionaires.

Land was very cheap even uptill the early 2000s, it wouldn’t have cost more than $1m to buy the whole of ilashe beach at the time…if that.

As for your comment about the American report, I can believe that because $1b today is approximately $100m in the 1980s. If it were based on that only Dangote would be a billionaire and then he would probably be about $1.5 max. Probably Rabiu and Mike would be jumping in and out of the billionaire index. So no matter the vastness of the business interests of the Ibru’s in the 1980s, they were nowhere close to Dangote. They would not have been billionaires in the 80s.

Look at what Dangote empire is today, the countries he operates in, and yet in 1980s valuation, he probably would just managed to scrape the billionaire barrier and you think the Ibru’s were worth $1b in the 1980s…..with what? Businesses that were domestically focused and based on a Naira that lost 90% of its value in 10 years between 1982 and 1992? Even if they were (again I don’t believe they ever were) they lost the majority of their wealth because of the Naira.

casualobserver:
I think you are getting carried away with the hype. In the 1980s when the Ibru’s were at their peak the whole of Coca Cola world wide was not worth $24b. Our entire federal budget in 1992 for example was less than $10b. Warren Buffet was only worth $3b in 1990. In 1992 the entire GDP of Nigeria was $42b! Having $100m in those days is like having $1b today. My personal opinion: no Nigerian was worth $1b uptill the 1990s except those who stole from government. The economy was just not big enough to make you a billionaire. Feeling or appearing to have stupendous wealth is. It the same as actually being worth $1b. Again I repeat $1b was not beans in the 70s to 90s when the Ibru’s were at their peak! $1b of 1970,1980 or 1990 is not $1b of 2023.

Like many Nigerian businessmen of the time, their assets and businesses were mainly in Naira and we know what happened to the Naira. Devaluation eroded whatever wealth they had.

Todays billion is not the same as $billion of the 80s. I personally doubt they ever reached the billion mark but I am willing to give the benefit of doubt but I am 100% sure they were never multi billionaires.

Land was very cheap even uptill the early 2000s, it wouldn’t have cost more than $1m to buy the whole of ilashe beach at the time…if that.

As for your comment about the American report, I can believe that because $1b today is approximately $100m in the 1980s. If it were based on that only Dangote and probably Rabiu would be billionaires and no matter the vastness of the interests of the Ibru’s in the 1980s, they were nowhere closed to Dangote.

Hedonisco:
Haba. By the Ibrus I mean their kids na. How many first generation Ibrus are still alive? Is it Michael, Felix, or... Emm (what's his name) the one who owned Guardian and Sheraton?

So really. Who are the current "Ibrus"? Is it Oskar? Oboden? Obaro? Bet mind the smaller kiddos. They can't compete with the contemporary kids on the block.. Facts.