₦airaland Forum

thebargainhunte:
Why is Wale among top 4 highest paid CEO in Nigeria? This year AGM, the first speaker critized their bogus salaries, yet the shareholders were left with nothing.

HacheNoire:
Stop bringing a fictional book to limelight

Even by same fictional book, Israel was a person first, before it became a generation.

Did the fictional book state that God named Israel and created the land? The land was already there and people were inhabiting it!


Genesis 32:28

A divine figure tells Jacob, "Your name shall no longer be called Jacob, but Israel, for you have striven with God and with men, and have prevailed".

HacheNoire:
How did they convince you that it started on October 7 after notable series of massacre, genocide and ethnic cleansing.

1946 – Plan Gimmel
1948 – Nakba
1948 – Plan Dalet
1948 – Operation Nachshon
1948 – Deir Yassin Massacre
1948 – Operation Hametz
1948 – Operation Yiftach
1948 – Operation Dani
1948 – Lydda Massacre
1948 – Operation Yoav
1948 – Operation Hiram
1948 – Tantura Massacre
1948 – Al-Dawayima Massacre
1948 – Abu Shusha Massacre
1948 – Ein al-Zeitun Massacre
1948 – Safsaf Massacre
1948 – Saliha Massacre
1948 – Ilaboun Massacre
1948 – Arab al-Mawasi Massacre
1956 – Kafr Qasim Massacre
1956 – Khan Yunis Massacre
1967 – Naksa
1982 – Sabra and Shatila Massacre
1967– TIll present – West Bank Bedouin displacement

elengine:
I mentioned this two weeks ago and people think it is a joke. Zenith, no shishi

UBA- increased impairment for related party loans😀😀😀 abi na the loan them dey take accumulate seplat ni?

lawani:
Yes but my point is that the right way in my opinion to run a public company is to set dividends apart each time you pay salaries. It does not have to be much but set something apart. It is not law yet but to me it is the right way forward

KarlTom:
He isn't

lawani:
Can you set up a private company and pay workers without paying shareholders? No no matter how small you will pay the share holders. Therefore for as long as the rule is not applied to public companies then the stock exchange isn't yet optimal at least not as much as private companies

lawani:
IF A COMPANY COLLAPSES WE WILL KNOW IT HAS COLLAPSED AND THE SHAREHOLDERS WILL BEAR THE BRUNT BUT WHEN IT HAS NOT YET COLLAPSED THEN IT WOULDN'T BE FAIR TO PAY WORKERS WITHOUT PAYING THE SHAREHOLDERS

yMcy56:
Thread sanity and more of investment/stock focused thread.....lol.


Ironically, Mega is my long term good brother on this thread and orderly at least.....
I don't know why he just changed and started derailing.......
Most annoying part is when corrected, he would take an offence, became adamant, insultive and acting irrational...
The kind of "friend" I'll keep or relate with and I can't tell him/her the truth, I'd rather not have such around me.
If you do anyhow, you get anyhow....then we move on again.....😁

If I do anyhow, correct me too, I no too dey vex for that kind thing......
I can't count the number of attacks I've got on this thread......we still move on on topics of interest afterwards.....😊

yMcy56:
Hhmmm..
This is interesting...
Invariably, the Rise and Fall of OANDO is in the hands of WALE.....as Mega used to insist.

Now, there's an interesting clause there:
"OODP is committed to fully subscribe to its Right entitlement"
OODP also says previously that its no longer buying out minority shareholders.... meaning it's not going private.

Uncle WALE, whatever your game plan is, pls carry us along make minority also follow you chop, na beg we dey o. Ejowo Sir 🙏

** Meanwhile, it seems the bot has given Megawealth long ban, lol

ppogba:
Believe no hint again.
All oracles have failed concerning this bank results.

ghm:
Thank you. I love this forum whenever people that know what's up speak. It goes further that we are not gamblers on this forum, we know something. Here are further information.

What is OODP?
OODP stands for Ocean and Oil Development Partners Limited. It is the majority shareholder and core investor in Oando PLC.

Who owns OODP?
OODP is a private company jointly owned by Wale Tinubu (Oando's Group Chief Executive) and Mofe Boyo (his deputy), along with the Volpi family's investment vehicle, Ansbury Investment Inc.

But there is another layer to the structure: Whitmore Asset Management Limited. Whitmore is the private investment vehicle of Wale Tinubu and Mofe Boyo. It co-owns OODP BVI (a British Virgin Islands joint venture company), which in turn owns 99.99% of OODP Nigeria. OODP Nigeria is the entity that holds the controlling stake in Oando PLC.

So the chain is: Tinubu/Boyo → Whitmore → OODP BVI → OODP Nigeria → Oando PLC.

What is OODP's stake in Oando?
OODP holds a controlling interest in Oando. Depending on the reporting date and methodology, its direct stake is reported as:

August 2026: 26.36%
September 2026: 28.55%
Historical (2022): 57.37%

The variation reflects different reporting methodologies (e.g., whether affiliated holdings like Leaf Equity Investments are consolidated).

The Letter of Guarantee
This is the critical document. OODP issued a Letter of Guarantee valid from 25 March 2026 to 25 March 2027. Under this guarantee, OODP commits to support Oando by ensuring the company can meet its financial obligations as they fall due, for as long as liabilities exceed assets.

The guarantee is described as a contract for the benefit of all creditors of Oando and its subsidiaries—present and future—who can enforce the undertakings given.

However, the financial statements contain a crucial caveat:"The effectiveness of this support is dependent on the financial capacity of the guarantor, which has not yet been independently verified." OODP told management that evidence of its net worth backing the guarantee is being audited, but the audit was not complete as of the financial statement approval date.

OODP's Role in the Recapitalisation
OODP is not just a passive guarantor. It has committed to fully subscribe to its rights entitlement and underwrite any shares not taken up by minority investors in Oando's proposed N500 billion capital raise. This means if minority shareholders don't take up their rights, OODP will buy them.

Why This Matters
Whitmore is the personal vehicle through which Wale Tinubu and Mofe Boyo control OODP, and by extension, their controlling stake in Oando. When people talk about "OODP's guarantee" keeping Oando afloat, they are effectively talking about Tinubu and Boyo's personal financial commitment—made through entities they own.

Oasisblue:
What does "the March 2027 guarantee expiry arrives before the fix is complete" indicate? Care to expound? Will Oando become bankrupt by that deadline?

ghm:
Salient point, you raised, here are my findings based on your post.

Looking at Oando's footprint—the company's premises, events, management and staff, buildings, offices, cars, planes, etc.—you will see an extremely successful and affluent company, with no visible traces of a broken balance sheet. Oando is being kept afloat by a legal guarantee from its majority shareholder, an aggressive debt-restructuring plan, and the sheer scale of its assets. But that lifeline has an expiry date, and it is not a long-term solution.

What's Keeping It Afloat Right Now

1. The OODP Letter of Guarantee
The primary lifeline is a Letter of Guarantee from Ocean and Oil Development Partners (OODP), Oando's majority shareholder. It is valid from 25 March 2026 to 25 March 2027. It commits OODP to support Oando so it can meet its financial obligations as long as liabilities exceed assets. The critical caveat: the evidence of OODP's net worth backing this guarantee has not yet been independently verified . This is not a cash injection; it's a promise from a related party.

2. The Recapitalisation Plan
Management has a three-part plan approved by shareholders: a N500 billion capital raise (first tranche N220 billion rights issue awaiting SEC approval), conversion of up to US$300 million** of Reserve-Based Lending debt into equity, and a **US$1.5 billion multi-instrument issuance programme .

3. Operational Cash Generation
Oando is not dead operationally. H1 2026 production averaged 42,789 boepd, up 16%, with production opex down 18% to $16.83/boe . It ended H1 with N544.92 billion in cash . Operating profit was N127.84 billion, a turnaround from a loss .

How Long Can It Keep "Selling Hope"?

The honest answer: until March 2027, when the OODP guarantee expires.
After that, the company's survival depends entirely on whether the recapitalisation plan succeeds. And there are serious doubts:

Negative equity persists: Total equity was negative N530.45 billion at H1 2026 .
Finance costs exceed operating profit: H1 2026 finance costs were N167.58 billion against operating profit of N127.84 billion . The company is not earning enough to cover its debt servicing.

The "profit" is not from operations: N104.44 billion of operating profit came from other income and impairment reversals—not from selling oil or trading crude .

Shareholder governance challenge: A shareholder has formally challenged the US$434.5 million receivable settlement and the proposed rights issue, raising questions about related-party transactions and dilution, with copies to the SEC and CAC .

Could Seplat or Aradel Acquire Oando?

This is speculative, but here's the context:

Seplat is the largest indigenous producer, targeting 200,000 boepd by 2030, with net debt reduced to $370.7 million after repaying $200 million . It has the balance sheet and the operational credibility.

Aradel ended H1 2026 with N1.72 trillion in cash, the largest of the three, and has been on an acquisition spree, consolidating ND Western and taking a majority stake in Renaissance Africa Energy.

Oando's appeal: It holds the largest indigenous reserves and has completed the NAOC acquisition, adding significant Niger Delta acreage .

An acquisition would be a massive undertaking, given Oando's N2.42 trillion enterprise value and N2.70 trillion in debt . But it would be a logical consolidation play for a cash-rich Aradel or a strategically ambitious Seplat.

Bottom Line
Oando is surviving on borrowed time and a shareholder guarantee. The operational turnaround is real—production is up, costs are down—but the balance sheet is still broken. The "hope" being sold is that the recapitalization will fix it. The risk is that the March 2027 guarantee expiry arrives before the fix is complete.

jonnysessy:
Sterling Holding Company had been listed @ N77. When market open we would see how far.

HacheNoire:
US military has lost 81 planes, drones and helicopters worth $3.3 billion in Iran war: report trib.al/7bLjxkb

https://x.com/nypost/status/2107611168546095191?s=46[/quote]Loss of 81 or 100 planes is more important to you than the death and loss of thousands of Iranian leaders including the dictator Ayatollah Khamanei and key infrastructure?

GeneralDae:
Even with all you heard Sanusi predict in that video which eventually came to pass in the time of Buhari, you still can’t decode why we are where we are today? Watch that video again.

ghm:
I am confused. Can a company really influence its own share price? I think the market does that.

I always thought they couldn't—except through the legal and acceptable ways: issuing more shares, reorganisation, buybacks, etc.

Everything Sanusi said here came to pass. Tinubu has helped him do this. I expect PO to design his campaign around how to use the savings to invest in transportation and power. PO needs more intellectuals on his team for campaign strategy tbh

Full video: https://t.co/ZO6v890Vod https://t.co/BLjHID2P4v pic.twitter.com/PGd5FIafPp

— Ken Nwankwo (@keneshuku) October 7, 2026

robobo:
He has a reason. The reason is that he want to corner the RI as a replacement for the shares he released as a form of repayment of Ocean and Oil (which is presently being shared to other shareholders in tranches) indebtedness to Oando. Remember the release txn was done at 90 something, so buying back same at 50 is a kill for him. So dont expect the price to go anywhere until after the RI is done and dusted.

that is one of the reason the qualifying date is already gone, even before the RI is approved by regulators (Feb 2026). Also keeping the market price below the RI price will discourage a lot of people who qualifies, which is to his own advantage. Lastly i THINK the only thing holding the RI down is maybe he has not been able to amass enough FUNDS to corner it (abt N200 billion) and i dont think this might be possible until the election is over (for obvious reason)

Selah

Robertgreene1:
You're the brainwashed one here my friend. 10% of Palestinians are Christians!!! They even worship in, and maintain the Church of Nativity, where Christ was born in Bethlehem, which is a major Palestinian City till date. Shireen Abu Akleh, the Palestinian Aljazeera journalist that was killed by lsrael in 2024 was a Palestinian Chrisrian. I watched her burial live on Aljazeera!!! But to see one single Jewish Christian in Israel is almost like a taboo!!!

Great100000:
The same planet. Two countries. One line. 🌍

Some borders disappear into forests. Others cut through mountains, deserts and cities, making an invisible line impossible to ignore.

Which border surprised you the most?

teniboss:
This Leopard, Tiger Jaguar and Cheetah Dey confusing shaa

Agbalowomeri:
Oando moved from N5 to N90
Wetin Una want again

edwardaigb:
Still better than my experience with Staco insurance.

Olofofo247ng:
NNPC remittance under 🇳🇬 Presidents

1. Obasanjo - $4 Billion in 8 years
2. Yaradua - $8 Billion in 3 years
3. Jonathan - $1 Billion in 5 years
4. Buhari - Nothing in 8 years
5. Tinubu - $15.33 billion in 3.5 years

How President Bola Tinubu pulled this off needs to be studied

Source:

NNPC remittance under 🇳🇬 Presidents

1. Obasanjo - $4 Billion in 8 years
2. Yaradua - $8 Billion in 3 years
3. Jonathan - $1 Billion in 5 years
4. Buhari - Nothing in 8 years
5. Tinubu - $15.33 billion in 3.5 years

How President Bola Tinubu pulled this off needs to be studied pic.twitter.com/vUSz6dqQXM

— The Mayor 🇳🇬 (@Mayor_ofph) October 6, 2026

thebargainhunte:
The man should just delist his company. He is using every opportunity to punish shareholders. Imagine an upstream company trading below N40 where there is no downstream company trading below N40 on ngx.

ayobama1:
This is debatable

megamart247:
OANDO is currently selling at 0.13 Rand in South Africa Stock Exchange which is equivalent to #10 naira.

So that buying OANDO above #10 have themselves to blame

Oxygenmayo:
Killing somebody for a dead man in hell?

This is truly a religion of peace indeed.