₦airaland Forum

Streetinvestor2:
I supported the removal of fuel subsidy but never supported the removal of subsidy in education and health sector
I believe nigeria can afford even free education in tertiary education if this government bring out half of the wasted and looted fund. Thr is no justification for any youth to start thr life on loan.It was free to me during my time @ 1900 and 90 accommodation. Every student could pay it.Infact many state in the North gave thr student 5k as bursary which was above the total package of sch fees and accommodation. So why should they now live on loan for it.The money saved from fuel subsidy should have been channelled to subsidize education and health sector. The bills you see in government hospitals is almost the same in private hospitals this days

1. Expecting the population of students in higher institutions today to get QUALITY education for free is not only a mirage but an impossibility. Any presidential candidate that promises that is only deceiving his supporters and not all Nigerians. Maybe we should begin to look forward to the era when graduates have employers waiting for them on graduation days by Uni gates with a salon car to booth.

2. So, there is justification for students abroad who started their own lives on loans?

3. I paid less than what you paid and it wasn't easy even at that time. I will not say more on this.

4. Yes state bursaries were common place then. I can confirm.

5. Do you per chance have an idea of what is required for fund our education and health sector well in the face of decrepit infrastructure?

6. Maybe you should consider the entire needs of the whole country to get a better perspective for your arguments.

I challenge any presidential candidate to promise returning the subsidy. Since that is all your ilk are hoping to be the game changer.

emmanuelewumi:
Has he settled his gbese?

That one ready to pay any gbese?

Streetinvestor2:
Na this kind facilities they make salary earners vote wrong person for 3 cups of rice...lol
Go and apply as business man.You will be told that u are not qualified. That is like 20% on 1 millions

You can access the loan as a business owner provided you have regular cash flow to your account for a certain period of time.
It is automatic for salary earners and I started using it when the interest rate was 1.33% per month.

If you're going to make such a wild claim -- that free, quality university education is impossible -- at least tell us why. Because several countries appear to be able to pull off the impossible; examples include Norway, Brazil, Egypt, Germany, the Philippines, and Turkey.

Which suggests that the issue is not really feasibility; it's priority.

ppogba:
1. Expecting the population of students in higher institutions today to get QUALITY education for free is not only a mirage but an impossibility. Any presidential candidate that promises that is only deceiving his supporters and not all Nigerians. Maybe we should begin to look forward to the era when graduates have employers waiting for them on graduation days by Uni gates with a salon car to booth....
I challenge any presidential candidate to promise returning the subsidy. Since that is all your ilk are hoping to be the game changer.

I don’t think you are wrong, sir. He was made to relinquish his holdings and were acquired by the investment vehicle at an agreed price per unit. I believe the proceeds from the current sales will be used to offset his debts with bank and anything left would be the profit to the investment vehicle.

emmanuelewumi:
Sorry, I was wrong.

But when RC paid N31 per share for those shares who got the proceeds?

HesInMe:
If you're going to make such a wild claim -- that free, quality university education is impossible -- at least tell us why. Because several countries appear to be able to pull off the impossible; examples include Norway, Brazil, Egypt, Germany, the Philippines, and Turkey.

Which suggests that the issue is not really feasibility; it's priority.

Free education in a country of about 240 million people generating an income of about 20b dollars per year

emmanuelewumi:
It is not going to shareholders it the going the investment vehicle which held the stocks in trust for owners. I learnt they bought it at N31 per share

please why did FBNH mentioned they will use the realised funds for recapitalisation and expansion

Princkez:
please why did FBNH mentioned they will use the realised funds for recapitalisation and expansion

If you have FBNH share, just hold it.
I don't think anyone can categorically tell you here if the money realized from the sale of those shares is going directly to the bank or to other entities.
The information out there is still not clear. Though to me, it appears as if the money will be going to the bank but what do I know.

pluto09:
If you have FBNH share, just hold it.
I don't think anyone can categorically tell you here if the money realized from the sale of those shares is going directly to the bank or to other entities.
The information out there is still not clear. Though to me, it appears as if the money will be going to the bank but what do I know.

thanks so much

pluto09:
If you have FBNH share, just hold it.
I don't think anyone can categorically tell you here if the money realized from the sale of those shares is going directly to the bank or to other entities.
The information out there is still not clear. Though to me, it appears as if the money will be going to the bank but what do I know.

When the sales was announced. The management of FBNH stated what the money was going to be used for in it.
What other information do u need out thr

https://www.youtube.com/watch?v=Ae4wDAm3Q_Y

A look at Custodian Investment/NEM Insurance/Cornerstone Insurance/Consolidated Hallmark H1 2026 earnings.

Did he obtain another loan after the out-of-court settlement? The guyman has no gbese with the bank again.

emmanuelewumi:
Has he settled his gbese?

Nigeria's national income is $20bn per year? See why we might need to make quality university education free?

On a more serious note: One of our biggest developmental challenges is low productivity. Upskilling the population should be a national priority if we want to become a medium-income country, so if that means free or heavily subsidized post-secondary education -- especially technical education (high-skilled welders, builders, electricians, IT technicians, nurses, etc) -- then that's what we should be doing.

pluto09:
Free education in a country of about 240 million people generating an income of about 20b dollars per year

chimex38:
Kinda. As required by Court.
Otudeko was asked to forfeit it. But he doesn't want to sell to Otedola.. That's the crux.

But the argument is whether it will go to FBN purse as a company or fellow shareholders.
To which I think it will definitely go to fellow shareholders and not FBN, cuz it's termed "share sale".

Clearer now. I wasn't following up.

I received an email concerning the Firstholdco Secondary market sales. The share price is N110 and closes on 14th of this month. I would like to know if there would be any negative effect on my holdings if I sell the current units I have at the present rate of above N145 and use the proceed to buy the offer for N110?

Blackethics:
I received an email concerning the Firstholdco Secondary market sales. The share price is N110 and closes on 14th of this month. I would like to know if there would be any negative effect on my holdings if I sell the current units I have at the present rate of above N145 and use the proceed to buy the offer for N110?

You will gain if you are able to see it to buy back. If it is oversubscribed then you will short and get your money returned. The 110 is closer to the true value while the 145 is based on hype.

lawani:
You will gain if you are able to see it to buy back. If it is oversubscribed then you will short and get your money returned. The 110 is closer to the true value while the 145 is based on hype.

Thank you

lawani:
You will gain if you are able to see it to buy back. If it is oversubscribed then you will short and get your money returned. The 110 is closer to the true value while the 145 is based on hype.

If it's oversubscribed, will the sharing formula be based on first to buy or it will be shared among everyone but one may not get all the units he subscribed for? E.g if you're buying 10m units and I'm buying 5m units, will everything be given to you as the first to buy or they will give 7.5m to you and 2.5m to me. Then refund the remaining?

Actually it's about 25%...

ayobama1:
2.95% monthly interest rates compounds to 36% plus annually

💯

lionshare:
FYA

lionshare:
GTB QuickCredit offers about 20% annual interest. Can OPay or PalmPay match that?

These fintech organisation should be given special supervision. Somebody said they are life savers. They are not, infact their activities could make people commit suicide.
A friend of mind run into some serious financial calamity and he had to take loan from palmpay. I asked him what the interest rate was, he could not tell me but when I annualise it, it has gone above 400% because of certain terms he didn't understand. This should not normally be allowed in an economy. This people are milking Nigerians because it is difficult getting loan from normal banks. Another one doing Uber shared a similar experience even though it was not as bad as the first example but the common reason why they result to taking such loans is that they can't get loan from regular commercial banks.

Mpeace:
I think but am not too sure. It might go to settle all the money Oba Otudeko owed FBNH. Remember those loans were the beginning of the whole problem.

This should be the right treatment. Remember the auditors must have written off those loans as bad debt from the P&L. Now that they are recovered, they should go back to the P&L and of course it will mean a healthier balance sheet and very likely an increased dividend to the shareholders.

Streetinvestor2:
But I was told NELFUND is the best thing to happen to Nigeria youths by this government
So it an achievement that calls for celebrations instead of subsidy in education.
What a contradiction from ur type...lol

Dear street, NELFUND is one of the best things to happen to Nigerian students. It is a zero interest loan. If students don't take this loan, politicians will clear the money. So, it is good that it is going to our children.
The other argument is that a great percentage of the loan may not be recovered. Even though I don't totally support not paying back but the beneficiaries are Nigerian. That could be their own dividend of democracy after all most of the politicians that are looting the treasury now went to school almost free during their time.

Streetinvestor2:
Na this kind facilities they make salary earners vote wrong person for 3 cups of rice...lol
Go and apply as business man.You will be told that u are not qualified. That is like 20% on 1 millions

Commercial banks hardly give loan to SME. They will rather give the loans to salary earners who may not even need the loan . Even though such loans are labeled as unsecured but it is codedly secured against their entitlement and they charge for insurance too.
As an SME, they believe loan given to you are not secured even after paying for insurance. That is the only reason people take unreasonable loan from the fintech companies.

You never can tell sha

lawani:
You will gain if you are able to see it to buy back. If it is oversubscribed then you will short and get your money returned. The 110 is closer to the true value while the 145 is based on hype.

What would be the fate of investors in this brouhaha?


https://nairametrics.com/2026/08/09/investors-worry-as-geregu-power-defaults-on-bond-payments/?fbclid=IwdGRjcATlDrVwZG9mBWV4dG4DYWVtAjExAHNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHoXO-Tfik3XKCp33UpQvZQvkmpaQ_uFYISvlEuyslF-wbZzjq0y4mbihhOSY_aem_nZ3JIoiZkPMZspfZGo39pA

NSEstudent:
What would be the fate of investors in this brouhaha?


https://nairametrics.com/2026/08/09/investors-worry-as-geregu-power-defaults-on-bond-payments/?fbclid=IwdGRjcATlDrVwZG9mBWV4dG4DYWVtAjExAHNydGMGYXBwX2lkDDM1MDY4NTUzMTcyOAABHoXO-Tfik3XKCp33UpQvZQvkmpaQ_uFYISvlEuyslF-wbZzjq0y4mbihhOSY_aem_nZ3JIoiZkPMZspfZGo39pA

Imagine a power company called Geregu Power as a big lemonade stand. To buy expensive new machines, they borrowed money from people by issuing "bonds"—basically promising to pay them back on a set schedule with extra interest.


​Recently, Geregu had to pause its business to do massive repairs on its power turbines. Because the machines were turned off, they barely made any money, and their profit crashed by 88%. This forced them to miss a big payment to their bondholders, causing a debt default.


​If you own regular stock (shares) in Geregu, this is bad news for a few reasons:
​Lower Stock Value: Panicked investors have been selling their shares, driving the price down by over 27% this year.


​No Allowance (Dividends): Companies share profits with stockholders through dividends. With almost no cash coming in, shareholders won't be getting paid anytime soon.


​Standing in Line Last: In finance, lenders get paid first. Stockholders have to wait until all bondholders are happy before seeing a dime.
​The company hopes to fixed its turbines soon and get back on track, but until then, share prices will likely stay rocky.

Worry more about the fate awaiting others who bought firsthold co at 130 or 150.... In here

Teenaira:
These fintech organisation should be given special supervision. Somebody said they are life savers. They are not, infact their activities could make people commit suicide.
A friend of mind run into some serious financial calamity and he had to take loan from palmpay. I asked him what the interest rate was, he could not tell me but when I annualise it, it has gone above 400% because of certain terms he didn't understand. This should not normally be allowed in an economy. This people are milking Nigerians because it is difficult getting loan from normal banks. Another one doing Uber shared a similar experience even though it was not as bad as the first example but the common reason why they result to taking such loans is that they can't get loan from regular commercial banks.

Hmmmmm both of you are right

searchng4love:
Imagine a power company called Geregu Power as a big lemonade stand. To buy expensive new machines, they borrowed money from people by issuing "bonds"—basically promising to pay them back on a set schedule with extra interest.


​Recently, Geregu had to pause its business to do massive repairs on its power turbines. Because the machines were turned off, they barely made any money, and their profit crashed by 88%. This forced them to miss a big payment to their bondholders, causing a debt default.


​If you own regular stock (shares) in Geregu, this is bad news for a few reasons:
​Lower Stock Value: Panicked investors have been selling their shares, driving the price down by over 27% this year.


​No Allowance (Dividends): Companies share profits with stockholders through dividends. With almost no cash coming in, shareholders won't be getting paid anytime soon.


​Standing in Line Last: In finance, lenders get paid first. Stockholders have to wait until all bondholders are happy before seeing a dime.
​The company hopes to fixed its turbines soon and get back on track, but until then, share prices will likely stay rocky.

Worry more about the fate awaiting others who bought firsthold co at 130 or 150.... In here

I'm more worried about the bond holders. Those ones are chronic risk averse investors, and now this.