Imagine Tony having access to the N200 billion under management by United Capital Asset Management


Or Otudeko having access to the over N200 billion under management by FBN Quest Asset Management

Personally, I think Oba Otudeko and FBNH triggered the bears that is currently ravaging NGX. The market thrives on information and a little information can trigger massive bull or bears. The moment issues arose from the take-over bid, FBNH started downward movement which affected other banks and whenever you see Zenith and GTCo falling, the herds mentality easily comes in and people rush to sell.

I am interested in how it goes because there is money to be made from the saga. The matter is more of a concern to shareholders of Flour Mills of Nigeria and Honeywell than even FBNH. I see a situation where other major shareholders like Otedola and Odukale will increase their stakes in the near future. Within now and 6 months time, some will make millions in FBNH. For me, I will start buying from Monday.

Due Diligence please.

A Corporate Heist –
In 2023 Oba Otudeko, the new majority shareholder of First Bank PLC and the founder of Honeywell Group, owes Eco Bank PLC 13.5 billion naira in debt. The money was actually given to Honeywell, a fast-moving consumer goods company that he founded, and Oba Otudeko personally guaranteed the loan. The loan was disbursed in 2013, 10 years ago, and the original amount disbursed was 5.5 billion naira. A disagreement ensued between Oba Otudeko and Eco Bank on the interest rate. The matter dragged on until, at a point, the billionaire industrialist said he wouldn’t pay back any kobo again, so Eco Bank should do their worst. Having run out of options on how to recover their 5.5 billion as of that time, Eco Bank approached the Federal High Court in Lagos, praying for the court to grant their prayers and help them recover the money owed. The matter dragged on for 10 years, all the way from the Federal High Court to the Supreme Court. In January, the Supreme Court of Nigeria, in a landmark decision, ordered the liquidation of Honey Well and Oba Otudeko in order for Eco Bank to get their money back. Another problem is that the money being contested is no longer 5.5 billion naira; Ecobank has now adjusted the debt they are owed to 13.5 billion naira from 5.5 billion naira, factoring in inflation and interest accrued.
The problem for Eco Bank is that there is no longer a company called Honeywell, which was the collateral in 2013 to liquidate. It does not exist again. Flour Mill of Nigeria bought the company from Oba Otudeko for a sum of 82 billion, so technically, the company does not belong to Oba Otudeko again; it belongs to Flour Mill of Nigeria. Moreso, Oba Otudeko's wealth is not easy to trace; he scattered his wealth using SPVs (special purpose vehicles) and proxies, so you can’t easily trace an asset or money that he owned.

Eco Bank has been in a state of confusion and quagmire since this year over how to recover the 15.5 billion naira Oba Otudeko owes them. To show Eco Bank's desperation to recover the money, Eco Bank dragged Flour Mill of Nigeria into Honeywell and Oba Otudeko's liquidation process and case in court, which is going on at the moment. Flour Mill's crime is that they bought Honeywell from Oba Otudeko even when they were warned, so they must be liquidated too. To be fair to Eco Bank, they warned Flour Mill not to buy Honeywell, but you know, Flour Mill has a coconut head, and they chose not to listen, so they deserve whatever is coming at them from the whole drama. Eco Bank was in this state of urgency only for the news to break on Friday that the person owing them and who does not want to pay just consolidated his shares by buying First Bank shares worth 82 billion naira and is therefore the new major shareholder of First Bank. Angered and miffed by the audacity of Oba Otudeko and the fact that he has money to pay back the loan but rather chose to go and buy First Bank Sheres, Eco Bank has written a letter to First Bank,advising FBN Holdings, the parent company of First Bank of Nigeria Limited, against approving or accepting the investment due to outstanding "humongous indebtedness" by the company and its founder, Dr. Oba Otudeko. Ecobank argued that instead of taking steps to repay their indebtedness in line with the mandate of the Supreme Court, "it has come to our notice that Dr. Oba Otudeko (being the prime mover and alter ego of the debtor companies who personally guaranteed to repay the said debt) has taken steps to divert his assets and funds and those of the debtor companies.

"This he has done by using a company known as Barbican Capital Limited (a special purpose vehicle), which was recently and hurriedly incorporated after the judgment of the Supreme Court (specifically on the 9th day of March, 2023). We state that the said Dr. Oba Otudeko has via the said Barbican Capital Limited ‘allegedly’ purchased an aggregate of 4,770,269,843 (Four Billion, Seven Hundred and Seventy Million, Two Hundred and Sixty-Nine Thousand, Eight Hundred and Forty-Three) shares of FBN Holdings Plc." Eco Bank said But the problem is that the new Majority owners of First Bank, Barbican Capital Limited, do not have the name of Oba Otudeko as the owner or director of the company; rather, the company belongs to Oba Otudeko’s two older kids, who are the directors. Oba Otudeko is not the same person as his first daughter and his first son, the two directors of the new majority owners of First Bank, so I wonder how Eco Bank hopes to solve this problem and what they want First Bank to do in this instance. Interesting days ahead for the battle of the souls of Nigeria's oldest bank, First Bank.

copyright: @RealOlaudah

emmasoft:


Very correct. It's a regulatory requirement that can't be overlooked for any firm.
The checks and balances are well spelt out.

Hence I always tell my prospects that nothing to be afraid of concerning SEC regulated fund managers as far as mutual funds particularly MMF and fixed income is concerned.
As a matter of facts fund managers don't handle investors cash.

Reason why it takes hours for funds to be redeemed. The parties to the fund, that is the fund manager, Trustee and custodian must sign and approve.

Reason why it is good to initiate fund redemption, 24 hours before you need the fund or very early in the morning on a business day

Mankindman:
https://nairametrics.com/2023/07/14/new-regulation-requires-cbn-approval-to-acquire-5-of-any-nigerian-bank/

@Loco, cbn is waiting for you ooo.lol
You can no longer acquire 5% of Living trust mortgage bank (aka loco's bank) without cbn approval.
I got to know this bank for the first time through Loco and have been eyeing 0.1% of their outstanding 5B shares, but oga Loco no go let me reach 0.0000001% due to the way he short the bank in 2021. From penny price of sub N0.50k ,Oga Loco placed a premium bet on living trust stock and won comfortably 😎 😀 👌 😉 👍

Doubt if Otudeko's acquisition of FBN will fly

locodemy:


Palmpay has the best fixed rate now @ 20% per anum followed by pay 18%.whats your advice on this two?

investment one 6.5% per anum.
Wema bank 7.5%
Other investment firms/banks same 6.5,7.5 or 8.0.
Do you know other reputable firms with higher rates?

You need to check the T&C and the FAQ to know that there is a limit to the above.

Opay for example gives the 18% for fixed deposit per annum provided the fund is less than 300k. yes, LESS than 300k.
If it is more than 300k, you wont even get 10%.

They cannot risk going under when there is bandwagon of investors dumping funds to get the 18% from their banks. These high rates are for small players.

With Micro Finance banks, the more you look, the less you see.

A lot going on in the banking sector. CBN revises tenure limits for bank executives to a maximum of 24 years.
https://nairametrics.com/2023/07/14/breaking-again-cbn-revises-tenure-limits-for-bank-executives-to-a-maximum-of-24-years/?amp=1

Mankindman:
https://nairametrics.com/2023/07/14/new-regulation-requires-cbn-approval-to-acquire-5-of-any-nigerian-bank/

Is this new regulation to block other majority shareholders in FBNH from increasing their stake in the bank to surpass Oba’s own?

Only time will tell.

vacanci:


You need to check the T&C and the FAQ to know that there is a limit to the above.

Opay for example gives the 18% for fixed deposit per annum provided the fund is less than 300k. yes, LESS than 300k.
If it is more than 300k, you wont even get 10%.

They cannot risk going under when there is bandwagon of investors dumping funds to get the 18% from their banks. These high rates are for small players.

With Micro Finance banks, the more you look, the less you see.

For opay,I do fixed deposit of 300k differently.I have done 300k at 15% in 6 different plans before.If you decide to do all in one plan, they will offer 15% for 300k and 6% for the remaining.

ebuka1997:
A lot going on in the banking sector. CBN revises tenure limits for bank executives to a maximum of 24 years.
https://nairametrics.com/2023/07/14/breaking-again-cbn-revises-tenure-limits-for-bank-executives-to-a-maximum-of-24-years/?amp=1

Policy somersault is not good for BAT’s government that is just starting. I am not impressed at all.

Coolcash1:


Policy somersault is not good for BAT’s government that is just starting. I am not impressed at all.

This government must favor me... Na this statement dey trend now

kolaish:
A Corporate Heist –
In 2023 Oba Otudeko, the new majority shareholder of First Bank PLC and the founder of Honeywell Group, owes Eco Bank PLC 13.5 billion naira in debt. The money was actually given to Honeywell, a fast-moving consumer goods company that he founded, and Oba Otudeko personally guaranteed the loan. The loan was disbursed in 2013, 10 years ago, and the original amount disbursed was 5.5 billion naira. A disagreement ensued between Oba Otudeko and Eco Bank on the interest rate. The matter dragged on until, at a point, the billionaire industrialist said he wouldn’t pay back any kobo again, so Eco Bank should do their worst. Having run out of options on how to recover their 5.5 billion as of that time, Eco Bank approached the Federal High Court in Lagos, praying for the court to grant their prayers and help them recover the money owed. The matter dragged on for 10 years, all the way from the Federal High Court to the Supreme Court. In January, the Supreme Court of Nigeria, in a landmark decision, ordered the liquidation of Honey Well and Oba Otudeko in order for Eco Bank to get their money back. Another problem is that the money being contested is no longer 5.5 billion naira; Ecobank has now adjusted the debt they are owed to 13.5 billion naira from 5.5 billion naira, factoring in inflation and interest accrued.
The problem for Eco Bank is that there is no longer a company called Honeywell, which was the collateral in 2013 to liquidate. It does not exist again. Flour Mill of Nigeria bought the company from Oba Otudeko for a sum of 82 billion, so technically, the company does not belong to Oba Otudeko again; it belongs to Flour Mill of Nigeria. Moreso, Oba Otudeko's wealth is not easy to trace; he scattered his wealth using SPVs (special purpose vehicles) and proxies, so you can’t easily trace an asset or money that he owned.

Eco Bank has been in a state of confusion and quagmire since this year over how to recover the 15.5 billion naira Oba Otudeko owes them. To show Eco Bank's desperation to recover the money, Eco Bank dragged Flour Mill of Nigeria into Honeywell and Oba Otudeko's liquidation process and case in court, which is going on at the moment. Flour Mill's crime is that they bought Honeywell from Oba Otudeko even when they were warned, so they must be liquidated too. To be fair to Eco Bank, they warned Flour Mill not to buy Honeywell, but you know, Flour Mill has a coconut head, and they chose not to listen, so they deserve whatever is coming at them from the whole drama. Eco Bank was in this state of urgency only for the news to break on Friday that the person owing them and who does not want to pay just consolidated his shares by buying First Bank shares worth 82 billion naira and is therefore the new major shareholder of First Bank. Angered and miffed by the audacity of Oba Otudeko and the fact that he has money to pay back the loan but rather chose to go and buy First Bank Sheres, Eco Bank has written a letter to First Bank,advising FBN Holdings, the parent company of First Bank of Nigeria Limited, against approving or accepting the investment due to outstanding "humongous indebtedness" by the company and its founder, Dr. Oba Otudeko. Ecobank argued that instead of taking steps to repay their indebtedness in line with the mandate of the Supreme Court, "it has come to our notice that Dr. Oba Otudeko (being the prime mover and alter ego of the debtor companies who personally guaranteed to repay the said debt) has taken steps to divert his assets and funds and those of the debtor companies.

"This he has done by using a company known as Barbican Capital Limited (a special purpose vehicle), which was recently and hurriedly incorporated after the judgment of the Supreme Court (specifically on the 9th day of March, 2023). We state that the said Dr. Oba Otudeko has via the said Barbican Capital Limited ‘allegedly’ purchased an aggregate of 4,770,269,843 (Four Billion, Seven Hundred and Seventy Million, Two Hundred and Sixty-Nine Thousand, Eight Hundred and Forty-Three) shares of FBN Holdings Plc." Eco Bank said But the problem is that the new Majority owners of First Bank, Barbican Capital Limited, do not have the name of Oba Otudeko as the owner or director of the company; rather, the company belongs to Oba Otudeko’s two older kids, who are the directors. Oba Otudeko is not the same person as his first daughter and his first son, the two directors of the new majority owners of First Bank, so I wonder how Eco Bank hopes to solve this problem and what they want First Bank to do in this instance. Interesting days ahead for the battle of the souls of Nigeria's oldest bank, First Bank.

copyright: @RealOlaudah

This is food for thought

kolaish:
A Corporate Heist –
In 2023 Oba Otudeko, the new majority shareholder of First Bank PLC and the founder of Honeywell Group, owes Eco Bank PLC 13.5 billion naira in debt. The money was actually given to Honeywell, a fast-moving consumer goods company that he founded, and Oba Otudeko personally guaranteed the loan. The loan was disbursed in 2013, 10 years ago, and the original amount disbursed was 5.5 billion naira. A disagreement ensued between Oba Otudeko and Eco Bank on the interest rate. The matter dragged on until, at a point, the billionaire industrialist said he wouldn’t pay back any kobo again, so Eco Bank should do their worst. Having run out of options on how to recover their 5.5 billion as of that time, Eco Bank approached the Federal High Court in Lagos, praying for the court to grant their prayers and help them recover the money owed. The matter dragged on for 10 years, all the way from the Federal High Court to the Supreme Court. In January, the Supreme Court of Nigeria, in a landmark decision, ordered the liquidation of Honey Well and Oba Otudeko in order for Eco Bank to get their money back. Another problem is that the money being contested is no longer 5.5 billion naira; Ecobank has now adjusted the debt they are owed to 13.5 billion naira from 5.5 billion naira, factoring in inflation and interest accrued.
The problem for Eco Bank is that there is no longer a company called Honeywell, which was the collateral in 2013 to liquidate. It does not exist again. Flour Mill of Nigeria bought the company from Oba Otudeko for a sum of 82 billion, so technically, the company does not belong to Oba Otudeko again; it belongs to Flour Mill of Nigeria. Moreso, Oba Otudeko's wealth is not easy to trace; he scattered his wealth using SPVs (special purpose vehicles) and proxies, so you can’t easily trace an asset or money that he owned.

Eco Bank has been in a state of confusion and quagmire since this year over how to recover the 15.5 billion naira Oba Otudeko owes them. To show Eco Bank's desperation to recover the money, Eco Bank dragged Flour Mill of Nigeria into Honeywell and Oba Otudeko's liquidation process and case in court, which is going on at the moment. Flour Mill's crime is that they bought Honeywell from Oba Otudeko even when they were warned, so they must be liquidated too. To be fair to Eco Bank, they warned Flour Mill not to buy Honeywell, but you know, Flour Mill has a coconut head, and they chose not to listen, so they deserve whatever is coming at them from the whole drama. Eco Bank was in this state of urgency only for the news to break on Friday that the person owing them and who does not want to pay just consolidated his shares by buying First Bank shares worth 82 billion naira and is therefore the new major shareholder of First Bank. Angered and miffed by the audacity of Oba Otudeko and the fact that he has money to pay back the loan but rather chose to go and buy First Bank Sheres, Eco Bank has written a letter to First Bank,advising FBN Holdings, the parent company of First Bank of Nigeria Limited, against approving or accepting the investment due to outstanding "humongous indebtedness" by the company and its founder, Dr. Oba Otudeko. Ecobank argued that instead of taking steps to repay their indebtedness in line with the mandate of the Supreme Court, "it has come to our notice that Dr. Oba Otudeko (being the prime mover and alter ego of the debtor companies who personally guaranteed to repay the said debt) has taken steps to divert his assets and funds and those of the debtor companies.

"This he has done by using a company known as Barbican Capital Limited (a special purpose vehicle), which was recently and hurriedly incorporated after the judgment of the Supreme Court (specifically on the 9th day of March, 2023). We state that the said Dr. Oba Otudeko has via the said Barbican Capital Limited ‘allegedly’ purchased an aggregate of 4,770,269,843 (Four Billion, Seven Hundred and Seventy Million, Two Hundred and Sixty-Nine Thousand, Eight Hundred and Forty-Three) shares of FBN Holdings Plc." Eco Bank said But the problem is that the new Majority owners of First Bank, Barbican Capital Limited, do not have the name of Oba Otudeko as the owner or director of the company; rather, the company belongs to Oba Otudeko’s two older kids, who are the directors. Oba Otudeko is not the same person as his first daughter and his first son, the two directors of the new majority owners of First Bank, so I wonder how Eco Bank hopes to solve this problem and what they want First Bank to do in this instance. Interesting days ahead for the battle of the souls of Nigeria's oldest bank, First Bank.

copyright: @RealOlaudah

He used a shell company for the acquisition. CBN and SEC will have to remove the veil used by the people behind the shell company, source of the fund used for the acquisition.

CBN and SEC will want to prevent a reoccurrence of this in the banking sector. Whereby a debtor will technically declare himself bankrupt in order not to pay his debts



By the way Otudeko gave a personal guarantee for the loan. He was also a director of Ecobank when he got the loan.


While Access Bank tried everything possible to recover their loans from debtors, FBN management used profits of the bank and retained earnings to block the holes created by insider related loans

vacanci:


You need to check the T&C and the FAQ to know that there is a limit to the above.

Opay for example gives the 18% for fixed deposit per annum provided the fund is less than 300k. yes, LESS than 300k.
If it is more than 300k, you wont even get 10%.

They cannot risk going under when there is bandwagon of investors dumping funds to get the 18% from their banks. These high rates are for small players.

With Micro Finance banks, the more you look, the less you see.

And then give loans to people at 3% per month

emmanuelewumi:




Doubt if Otudeko's acquisition of FBN will fly

If this becomes the case, does that mean he will be forced to sell down his shares at market determined price? If this happens, he might loose up to 40% of his value in FBNH eventually.

vacanci:


If this becomes the case, does that mean he will be forced to sell down his shares at market determined price? If this happens, he might loose up to 40% of his value in FBNH eventually.

It happened about 20 years ago when Access Bank was still a small bank


Aig tried hostile takeover of the defunct Afribank on the floor of NGX, CBN asked Access Bank to sell the shares of Afribank


Two years after the same Access Bank tried a hostile takeover of Union Bank on the floor of NGX. CBN nullified the acquisition
Ebong then started using the bank funds through Ololo to defend the share price of Union Bank and ward off corporate raiders

kolaish:
A Corporate Heist –
In 2023 Oba Otudeko, the new majority ...

copyright: @RealOlaudah

Ọmọ!

Coolcash1:


Policy somersault is not good for BAT’s government that is just starting. I am not impressed at all.

There needs to be direction. I wonder what’s happening that they haven’t appointed Ministers/CBN yet.

ACCESSCORP

Acquisition continues.

https://doclib.ngxgroup.com/Financial_NewsDocs/PROPOSED_ACQUISITION_OF_STANCHART_BUSINESSES.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/ACQUISITION_OF_MAJORITY_EQUITYSTAKE_IN_FINNIBANCO.pdf

emmanuelewumi:


By the way Otudeko gave a personal guarantee for the loan. He was also a director of Ecobank when he got the loan.

Another angle and point to note is that the amount in question owed to Ecobank is between N5b - N13b, while the estimated sum for the acquisition of those FBNH shares is around N100b. Even if he is forced to pay the N13b, he can still muster remaining amount (N87b) to get enough shares that will make him take control of the bank, which other shareholders may not want. Interesting times ahead because yours truly like following where there is billions.

emmanuelewumi:




It happened about 20 years ago when Access Bank was still a small bank


Aig tried hostile takeover of the defunct Afribank on the floor of NGX, CBN asked Access Bank to sell the shares of Afribank


Two years after the same Access Bank tried a hostile takeover of Union Bank on the floor of NGX. CBN nullified the acquisition
Ebong then started using the bank funds through Ololo to defend the share price of Union Bank and ward off corporate raiders

Greetings bros, how old are you? Hope you don't mind me asking?

Ades1:




Greetings bros, how old are you? Hope you don't mind me asking?

Ginalex:

As a fan of Pa Emma, I fink he should be in his late 40s (45 to 49)
😂 😘

emmanuelewumi:




It happened about 20 years ago when Access Bank was still a small bank


Aig tried hostile takeover of the defunct Afribank on the floor of NGX, CBN asked Access Bank to sell the shares of Afribank


Two years after the same Access Bank tried a hostile takeover of Union Bank on the floor of NGX. CBN nullified the acquisition
Ebong then started using the bank funds through Ololo to defend the share price of Union Bank and ward off corporate raiders

You're spot on sir! I personally didn't take Access Bank Plc led by Aig-Imoukhuede serious that time because their move then was so audacious.

emmanuelewumi:




It happened about 20 years ago when Access Bank was still a small bank


Aig tried hostile takeover of the defunct Afribank on the floor of NGX, CBN asked Access Bank to sell the shares of Afribank


Two years after the same Access Bank tried a hostile takeover of Union Bank on the floor of NGX. CBN nullified the acquisition
Ebong then started using the bank funds through Ololo to defend the share price of Union Bank and ward off corporate raiders

Days of the 'cowboy bankers'.

Funny thing with Ololo, he would allow purchase of UBN shares at lower prices during early trading sessions only to come few minutes to bell ring and mop up everything to the highest price. I was on the floor one of the days and we hailed him seriously because guys made money, unfortunately at the expense of UBN shareholders. Peter Ololo. One-man squad.😁

A Reading for NSEMPA members.
Learning in the market is a continuous task. The day you stop learning the intrigue of the equity market, could be a pointer that you have given up the marathon.
A lesson from the book of Phil Fisher (1907–2004). He was an American author and investor, a proponent of growth 📈 strategy school of taught.
I.e(Agbalowomeri 60 % Value investor, and 40% Growth investor and
Pa Emmanuel 75% Value investor and 25% growth investor.
Phil Fisher retired at 91 years, and joined his ancestors at age 96. His best work was the book of "Common Stocks and Uncommon Profits" a guide to investing that has remained in print since it was published in 1958. Phil started investing when value investing was popular in the US.
Phil Fisher was a contrarian investor. He was one of the pioneers of the growth investing strategy, the style of Agba and Pa Emma.

Warren Buffett once recommended the book of Phil Fisher" as a book investors must read.
Buffett describes himself today as 85% Benjamin Graham, who followed a value strategy, and 15% Phil Fisher, who followed a growth strategy.
Pa Emma once described Buffett as being over rated. nevertheless I see a strong trait of Buffet in his strategy.
Phil Fisher mentions in his book “Five Don’ts for Investors.” These five tenets have nothing to do with financial ratios at all. They are qualitative rather than quantitative. They refer to five “don’ts” that the investor should be aware of.

1. Do not invest in promotional companies: Fisher defined promotional companies as companies with less than three years of commercial operation. His advice is to invest in established companies. We have seen this so often. Companies would list on a stock exchange with a lot of hype. After a few years, the hype is gone, and reality sets in. This is the fate of most of Emperor Femi Otedola listed companies.
Beware of Geregu(2022), a company that generates 260 to 270 MW , with market capitalisation of N825B and outstanding shares of 2•5B units Vs Transcorp Power(2004) that generates 1938 to 2000MW, Market Capitalisation of N140.24B and outstanding shares of 40.65B units. Including 45%OPL 281 /and OML with proven 1B+ crude reserve, plus gas components.
Do the mathematics and make your choice.

2. Do not buy stocks with borrowed money: Buying on the margin (with borrowed funds) is risky. It was the accepted method of trade in the 1920s. Buying on the margin is now limited to a fraction of what it was. Today an exceptionally large percentage of all trading is done on a cash basis. Cash trading today is done by a new class of investors, called institutional investors, like investment trusts, Nominee companies, and pension funds overseeing the collective savings of millions of small investors. It is difficult to follow the strategies of these companies due to their heavy portfolio.

3.Do not buy a stock just because you like the ‘tone’ of its annual report: The annual report may often be too optimistic. Annual reports are designed to build goodwill. It may not even be written by the chairperson but by the commissioned team. They are prone to put the best foot forward. They seldom present balanced and complete discussions of the real problems and difficulties of the business, hence the popular saying in the US "Beware of the allure of dividends and focus on your investment goal"

4. Do not quibble over eights and quarters: By quibbling over small amounts to save say, N50, investors can fail to make big profits. For example, an investor can insist on buying a share only when it is below N10. The price may fall to N10, but our investor is adamant – they will only buy below N10. The share may then run to N100, a ten-bagger, and the investor loses out. Hence the saying "Seize today for tomorrow" No one will tell you this. Loco and Megawealth would not tell you when to buy and exit the market. It's 100% your responsibility to seize the day. The generational low proponent of NGX are still regretting quietly. They failed to time the market. With the look of things, the ASI might not go below 5% index volatility before full recovery.

5. Do not invest without a plan: It is important to have a well-thought-out investment plan that aligns with your financial goals and risk tolerance. Investing without a plan can lead to making impulsive decisions and not achieving your financial objectives. Investing should be viewed as a long-term strategy, and investors should avoid being swayed by short-term market movements. Making impulsive decisions based on short-term gains can result in significant losses. Do not try to time the market or chase after short-term gains. Instead, focus on long-term investment goals and stay invested for the long haul. Be a patient investor like Agba and Pa Emma. Investing is not a sprint; it is a marathon. Since 1926 the stock market has been shown to increase on an average of 10% each year, or 1 330 000% over 96 years. Do not allow short-term fears to control long-term decisions. Time in the market is more important than timing the market. You cannot be Locodemy, he is a specialist in short term trading, copying him would result in investment disaster and NGX will humble you.

6. In addition to the five "don'ts" Beware of becoming overconfident in your investment decisions. Remain humble and objective like Agbalowomeri and Pa-Emma when evaluating investment opportunities. Overconfidence can lead to taking on too much risk or ignoring red flags. International Breweries is full of Red flags, some have been mentioned in my previous posts.
Investing in only one asset class or sector can expose you to unnecessary risks. Diversifying across multiple asset classes and sectors can help to mitigate risk and improve overall portfolio performance. Do not put all your money into a single investment. Instead, spread your money across different asset classes, such as stocks, bonds, MMF (Pa Emma favourite and alternative to equity), real estate (UPDC REIT is Pa Emma diversification, he got a reservation for this stock, speaks less about it , probably a strong holder.
Finally, never invest without a plan.
TGIF.

Frangel:


Days of the 'cowboy bankers'.

Funny thing with Ololo, he would allow purchase of UBN shares at lower prices during early trading sessions only to come few minutes to bell ring and mop up everything to the highest price. I was on the floor one of the days and we hailed him seriously because guys made money, unfortunately at the expense of UBN shareholders. Peter Ololo. One-man squad.😁

And ololo deap capital is rising again 😀😀😀😀😀😀📈

Frangel:


Days of the 'cowboy bankers'.

Funny thing with Ololo, he would allow purchase of UBN shares at lower prices during early trading sessions only to come few minutes to bell ring and mop up everything to the highest price. I was on the floor one of the days and we hailed him seriously because guys made money, unfortunately at the expense of UBN shareholders. Peter Ololo. One-man squad.😁

There needs to be books/movies about what happened in banking/finance in those days. The closest I have seen is Banking Reform in Nigeria by Yomi Makanjuola

Please can anyone here help me activate my account opening with investment one? Been on it for close to one month now.

Called their customer care and I'm tired walahi

Please any recommendations on stocks right now? Both Long & short term?

Thanks.

I hail una o. Been learning from y'all lowkey

bibs4all:
Please can anyone here help me activate my account opening with investment one? Been on it for close to one month now.

Called their customer care and I'm tired walahi

@bibs4all apologies for the delay.

Kindly chat me up I'm sure something went wrong somewhere otherwise account opening happens in 72hrs if no issues.

jarkbauer:
Is yMcy56 same as mercilicious of old wey Agba wan marry that year ?

Oh those exciting times. Sure they are not same. From observation I think Mercilicious is Igbo and yMcy56 is Yoruba.