₦airaland Forum

ghm:
Thanks. Wigwe's money is a long accummulated and compounded money for over 3 decades of successful, diligent, focused and highly rewarding career.

The only issue that is inexplainable to me is how and why Access Bank can be owing Intercontinental Bank billions, shown in their books and the then CBN did not go after Access Bank to pay off the loan but instead shut down Intercontinental Bank and sold it to Access bank, its creditor. That is abracadabra!

jp130:
Accesscorp with a huge retain earnings is busy taking over banks in other country. Make them consolidate and manage them efficiently.
I learnt wigwe and Aig started this bank at a very young age. If he could possess such a talent then, he could explore real estate as well

ppogba:
In simple terms, it is just about Sanusi showing is typical VINDICTIVE nature. He had axe to grind with Akingbola and Mama Ibru as at then.
As at the time the two banks were taken over, Skye Bank then was systemically injured and wounded.

Bottom line, never joke with a contemporary on the same level with you who suddenly gets upgraded above you. Especially as a regulator. Above all, a crab can swallow a Whale in Nigeria.

awesomeJ:
Guys, I have some preliminary Q1 numbers for my trading, they're pretty compared to last quarter.

N1.65bn with 2.16% net margins traded compared to N669m at 1.32

the quarter still does have 2 more days sha, but i just finished vibe coding this income statement feature so I'm happy to share.

Full quarter volume will be above N1.7b with earnings likely to top N37m

I paid N1.3m for just stamp duties alone

nicestlady:
You really inspire me on this platform. I wish I can have a sit down with you and learn. I know you might not want to let out your secrets in the open. How do you decide what stocks to buy?

jonnysessy:
This N15.00k final dividend is poor for Okomu oil, a stock selling above N1700

mikeapollo:
The bolded is inaccurate and misleading. A CBN governor cannot just liquidate a whole bank just because of vindictiveness or because he/she did not like the CEO. There are rules and laws that guide the operations of banks.
Let's stop this tendency of bringing up wild, unfounded conspiracy theories to support or defend big men who might have committed crimes or looted and destroyed our institutions., thereby jeopardizing the economy and millions of jobs.
Has Akingbola, Ibru or any other former CEOS been able to challenge the CBN in court and won? I think Bank PHB went to court and they lost!
For instance in the case of Ibru, one of her atrocities was that she approved huge personal loans (unapproved by the Board of Oceanic Bank), collected the money, and then used it to build hundreds of branches which she then rented out to the bank at huge annual sums. What do you call that? Depositors funds were being endangered in all these. There were several other issues as well.
The truth is, we needed a no-nonsense person like Sanusi, who was bold enough to stand up against the crimes going on in the banking sector, the oil sector with NNPC, and even the legislators who were consuming 25% of national overheads and nobody could talk.
We Nigerians always complain that many things are wrong in the country but when we see someone who is bold enough to address these things, we turn around to cook some funny excuses, rumours and stories to muddle the issues

Iamblessed8888:
Is this why Meristem has been having issues

Streetinvestor2:
Why don't u tell us why cbn has refused to apply the same standard used for aso savings on unity Bank. Did aso savings not go to court. Did intercontinental bank not go to court. Was access bank not indebted to intercontinental before the take over. Go check if iintercontinental bank was not far bigger than the access bank that took over it.
The ceo of international bank and the shareholders whr ready to even recapitalise the bank but Sanusi was only interested in take over of the bank.The case was even taken to senate but some political powers whr bent to steal the bank.It is the same thing that just played out in aso savings.The good thing about karma it could be. Loud like thunder. Who told you some of the properties are owned by the late guy.It is properties by some political criminals he represented..I expect more discoveries and seizures in future

ghm:
Thanks. Wigwe's money is a long accummulated and compounded money for over 3 decades of successful, diligent, focused and highly rewarding career.

The only issue that is inexplainable to me is how and why Access Bank can be owing Intercontinental Bank billions, shown in their books and the then CBN did not go after Access Bank to pay off the loan but instead shut down Intercontinental Bank and sold it to Access bank, its creditor. That is abracadabra!

Mpeace:
PZ q3 not bad. #100 loading lol

mikeapollo:
The bolded is inaccurate and misleading. A CBN governor cannot just liquidate a whole bank just because of vindictiveness or because he/she did not like the CEO. There are rules and laws that guide the operations of banks.
Let's stop this tendency of bringing up wild, unfounded conspiracy theories to support or defend big men who might have committed crimes or looted and destroyed our institutions., thereby jeopardizing the economy and millions of jobs.
Has Akingbola, Ibru or any other former CEOS been able to challenge the CBN in court and won? I think Bank PHB went to court and they lost!
For instance in the case of Ibru, one of her atrocities was that she approved huge personal loans (unapproved by the Board of Oceanic Bank), collected the money, and then used it to build hundreds of branches which she then rented out to the bank at huge annual sums. What do you call that? Depositors funds were being endangered in all these. There were several other issues as well.
The truth is, we needed a no-nonsense person like Sanusi, who was bold enough to stand up against the crimes going on in the banking sector, the oil sector with NNPC, and even the legislators who were consuming 25% of national overheads and nobody could talk.
We Nigerians always complain that many things are wrong in the country but when we see someone who is bold enough to address these things, we turn around to cook some funny excuses, rumours and stories to muddle the issues

Streetinvestor2:
This begs for explanation from cbn.It is even more funny when access took over intercontinental. The bank was worth more in assets than access bank

opadiya:
IB was no doubt a bigger bank in terms of assets and customers. Even Access had to relocate their head office from Oyin Jolayemu to Danmole, the then IB headquarters, after the merger. The power that be at the time wanted to get rid of the Bank and Akingbola.

jonnysessy:
This N15.00k final dividend is poor for Okomu oil, a stock selling above N1700

KarlTom:
They should resume dividend payment for FY25/26...

KarlTom:
Total is totally finished...

abuhusna1:
It us better you pay the negative balance up on time before they will be charging you interest on it. It has happened to me severally so I just accept the stock and balance the debt

mikeapollo:
The bolded is inaccurate and misleading. A CBN governor cannot just liquidate a whole bank just because of vindictiveness or because he/she did not like the CEO. There are rules and laws that guide the operations of banks.
Let's stop this tendency of bringing up wild, unfounded conspiracy theories to support or defend big men who might have committed crimes or looted and destroyed our institutions., thereby jeopardizing the economy and millions of jobs.
Has Akingbola, Ibru or any other former CEOS been able to challenge the CBN in court and won? I think Bank PHB went to court and they lost!
For instance in the case of Ibru, one of her atrocities was that she approved huge personal loans (unapproved by the Board of Oceanic Bank), collected the money, and then used it to build hundreds of branches which she then rented out to the bank at huge annual sums. What do you call that? Depositors funds were being endangered in all these. There were several other issues as well.
The truth is, we needed a no-nonsense person like Sanusi, who was bold enough to stand up against the crimes going on in the banking sector, the oil sector with NNPC, and even the legislators who were consuming 25% of national overheads and nobody could talk.
We Nigerians always complain that many things are wrong in the country but when we see someone who is bold enough to address these things, we turn around to cook some funny excuses, rumours and stories to muddle the issues