₦airaland Forum

Laggatumuch:
If you correct in rudeness, people will miss the message, no one knows it all , we are all learning, so correction is allowed but not correction with insults. We should correct others and also be willing to be corrected, and also apologize to those we have insulted, in doing this the world will be a better place. Any correction with insults is no correction at all

No, you got it partially fantastically wrong.

If you correct with rudeness verbally, people will miss the message.

But if you correct with rudeness in a written format, Jesu oooooooooo!

The message enters like thyme entering meat that has been boiled for 2 hours.

Their BS is there with your response for eternity. They can see their goof that you corrected and, unlike verbal, it does not vanish into thin air or cannot be disclaimed.

They can't escape it and they would have to be pretty pretty pretty sharp to defend it against Sagamite (that is like trying to find a Mammywater riding a Unicorn).

After reading it over and over again and realise they are stuck even if they tried, it does sink in. I call it "the point"!

https://www.nairaland.com/1407845/expatriates-indepth-analysis-corruption-nigeria/10#17679651

samvega:
But this is a Forum is not an academic platform Dumb stupid comments are allowed, even in our universtities you get even dumber comments from students but its all ok . People with better knowledge can put the facts right with proper evidence. We can all learn and grow. There is no need to be rude and insulting. We are supposed to be celebrating today you know!

Your right dumb comments are allowed, but there should be limits to it.
When you make dumb comments and joke about everything, It becomes annoying.
Our youths are becoming specialists in playing with everything that they miss the important things. We joke with everything in this country(haven't you noticed)
I won't blame him for getting angry honestly.
Sometimes you have to let out what has been inside to u for a long time.

joegigs:
Bashing cant make you popular

Since NL does not provide you with the functionality to see my followship or my likes & shares, then I suggest you just put my moniker in the "Search" function an then just read the first 5 pages.

Then you would see how wrong your statement is.

In the old times, I would probably be seen as the most popular intellectual, but I am basicaly off NL now.

It is like saying Simon Cowell cannot be popular because he was super rude to contestants. He became a celebrity and millionaire in the hundreds from doing so.

How many bank ceos have ever been jailed for money laundering? For fraud?...

Nigeria... o Nigeria

It's like you are from iyanapaja you seem to know much about the bad teachers.

Skyebank that has no annual reports for two years, with a very high Non performing loan ratio and abysmal capital adequacy ratio.

Even me wey no be Accounting student, seeing all these stats from '016 I knew it was only a matter of time before skyebank cave in.

If not that first bank is a tier 1 with very strong ties , they for don follow suite with their reckless loan offering

chukzyfcbb:
Skyebank that has no annual reports for two years, with a very high Non performing loan ratio and abysmal capital adequacy ratio.

Even me wey no be Accounting student, seeing all these stats from '016 I knew it was only a matter of time before skyebank cave in.

If not that first bank is a tier 1 with very strong ties , they for don follow suite with their reckless loan offering

An institution on the stock exchange has refused to provide annual report for two straight years and the investors stayed?

Now they are whining that they have lost their money?

Sagamite:
An institution on the stock exchange has refused to provide annual report for two straight years and the investors stayed?

Now they are whining that they have lost their money?

Lool they were praying and hoping for the best

You know what they say Denial is the first stage of grief, sometimes you know an Investment is going bad but you are too emotional to let go, thinking all will be well.


Rich people know the market is run by Greed and emotions, but the average people think its run by Logic and strategy.

If The Shareholders Were Not Given Prior Right To Recapitalize Then, I Think The CBN Is Actually Wrong.

So shareholders are being stylishly made to pay for blunders of bloody and senseless managers.

IamaNigerianGuy:
First Bank is not stable

Please educate me.....expatiate on the bolded!

[quote author=Alphasoar post=71681824][/quote]How do we begin since some of us here take it for fun? We the youths need to pause and ponder and then apply our YOUTHFUL intelligence to think and make clever decisions even if we don't fully manifest in time for this election, before next election we are already a force. The reason why we are still like this is because we fail ourselves by shying away from things we need to do. Let's THINK, THINK,THINK and STRATEGIZE on how to move forward. Look at how creative, innovative and clever most of us are but still specialize in 1. Bring him down syndrome 2. Tribalism 3. If not me or us, no one else 4. APC or PDP 5. Lack of result oriented movements/plans 6. Caricatures, uninterested in national discourse etc.(No disrespect). Nowhere in the world have u seen youths complaining without actions and u expect results. For instance, NOT TOO YOUNG TO RUN BILL has recently been signed. That means we must be a force by next election. Our time is near.

Sagamite:
If you call those that put their money in MMM "investors", then you need you head examined!

.
Oga, who are Investors?

Yankee101:
The new bank did not buy zero or negative, they should be given the % of the value of the old bank in the new setup. Nigerians just love to steal and use other people's money to grow rich. It's simple finance not rocket science.

What AMCON acquired through the CBN are the assets and liabilities, if the liabilities out weighs the assets the implications is that the shareholders investment are gone with the winds.Which seem to be the case with Skye Bank, From the reports the total value of the shareholders amounted to a little above N10 billion while the amount injected by CBN is about N780 billion which speaks volumes on the distress state of the bank.

What matters is the safety of customers investments....

its hard but its the truth, Skye bank shareholders have all lost their investments, like those of bank PhB, Intercontinental, Spring, etc that went under in 2008/2008, Skye bank share certificates are mere papers now. CBN governor only talked about depositors nothing on the shareholders because they have nothing again.

Patrinus:
Please educate me.....expatiate on the bolded!

FB balance sheet fell by over 90% when Sanusi decided to do his stress test in 2008 or thereabout. Only their close association with him and other power brokers allowed them to escape government takeover. Look it up online. These banks are all the same. For instance, there is a particular 'big man' closely allied to FB who is indebted to the tune of N84 billion. Do you hear anything about that debt anymore ?

Cooked books and razzle-dazzle. That is Nigerian banking

Actually, CBN said minority shareholders of Skye Bank may have part of their money back. Read this

CBN Gives Hope to Minority Shareholders of Defunct Skye Bank
https://www.businesspost.ng/2018/09/26/cbn-gives-hope-to-minority-shareholders-of-defunct-skye-bank/

Remii:
its hard but its the truth, Skye bank shareholders have all lost their investments, like those of bank PhB, Intercontinental, Spring, etc that went under in 2008/2008, Skye bank share certificates are mere papers now. CBN governor only talked about depositors nothing on the shareholders because they have nothing again.

AmazingELixir:
What AMCON acquired through the CBN are the assets and liabilities, if the liabilities out weighs the assets the implications is that the shareholders investment are gone with the winds.Which seem to be the case with Skye Bank, From the reports the total value of the shareholders amounted to a little above N10 billion while the amount injected by CBN is about N780 billion which speaks volumes on the distress state of the bank.

What matters is the safety of customers investments....

I know all of these.
Lemme use Oceanic Bank as an example to clarify my point.
Why should the nearly $1billion dollars recovered from Ibru not be applied to shareholders funds? The judge that ruled had her daughter living in one of ibru's houses seized. Here in the US any rwcovered assets are applied to shareholders after depositors are balanced out. Tunde Ayeni of Skye bank is facing recovery. Where should the money recovered go?

ifymadu:
This shouldn’t happen, those responsible for mismanaging the funds should be held accountable. I’m sure most of these shareholders have not been paid dividends for a while and now they are about loosing their investments.

Is very unfortunate. I invested in Sky Bank 2008 public offer at 14 Naira per unit shares.

I don't think, I have received 5% of the total money invested... today, they are now saying everything has been lost.

Nigeria is such a funny country.

Sagamite:
That was the "Finance" you were taught at your Iyana Ipaja International University, Olodo?

Why should they be given the same % value of the old bank they had before in the new bank? Because government money is free for private investors, Professor of Finance (Iyana Ipaja International University)?

Go shut-up and siddon somewhere, this is rocket science to people like you.

Here is the lecture for you that Iyana Ipaja International University did not teach you during your "world class" degree in Finance:

When you are or decide to be an investor in a company, whether publicly-listed or private, it is then your responsibility to ensure that the company is well ran according to the laws of the country and profitably, otherwise your money is at risk.

You do this by:

1) Either having a representative on the board, who are people there to monitor the CEO and Senior Managers as representatives of the shareholder; you have this if you are a significant shareholder

2) Or you monitor the company privately by reading annual reports (if you are a small shareholder) and pull your money out if you feel the CEO and Senior Managers are reckless or not providing the financial/ethical benefits you desire

In most publicly listed companies, the government would not give a flyingshit if a company is reckless and fails, but as banks are heavily linked to the economy as they hold people's money and fund the economy, they cannot afford to standby and watch recklessness. So they take over.

When they take over, they are putting in taxpayer's funds to buy a struggling bank, which is now automatically devalued. So a good portion of your money as an original investor is gone because of the fallen value of a struggling bank you did not monitor and the money the government is putting in to save your investment. If the bank is getting seriously heavy losses, then you might even get zero!

Professor of Finance at Iyana Ipaja International University, it is your fcking responsibility as a shareholder to monitor your investment so you don't lose it, not for the government to save it for you and pay you for any losses.

For you na rocket science o!

I can't remember insulting anyone. But here is the longer version of my argument, I expected if you were following bank closures you'll know all the issues at stake.


Lemme use Oceanic Bank as an example to clarify my point.
Why should the nearly $1billion dollars recovered from Ibru not be applied to shareholders funds? The judge that ruled had her daughter living in one of ibru's houses seized. Here in the US any rwcovered assets are applied to shareholders after depositors are balanced out. Tunde Ayeni of Skye bank is facing recovery. Where should the money recovered go?

Am I still in Iyana paja?

Yankee101:
I know all of these.
Lemme use Oceanic Bank as an example to clarify my point.
Why should the nearly $1billion dollars recovered from Ibru not be applied to shareholders funds? The judge that ruled had her daughter living in one of ibru's houses seized. Here in the US any rwcovered assets are applied to shareholders after depositors are balanced out. Tunde Ayeni of Skye bank is facing recovery. Where should the money recovered go?

It is to be noted that the challenges of Skye bank didn't just start....the CBN had been overseeing the operations of the back for over two years prior to the complete takeover, the major issue with the bank is profitability, most of the Nigerian banks depended on federal government accounts to ensure liquidity and with the introduction of treasury single account TSA and subsequent withdrawal of the FG account from the banks a whole lot of them were plunged into dare state, those not innovative enough like Skye bank suffered liquidity problem hence the intervention of CBN two years ago.
Inasmuch as one is not ruling out management improprieties, the fact they the existing management were retained by the apex bank in the buyout operation indicates they not culpable

Akpan107:
Is very unfortunate. I invested in Sky Bank 2008 public offer at 14 Naira per unit shares.

I don't think, I have received 5% of the total money invested... today, they are now saying everything has been lost.

Nigeria is such a funny country.

It’s so unfortunate my brother

Sagamite:
No min am!

He has no clue how things link together in destroying society.

He has no understanding of Nigerians and the best and most efficient way of making sure they learn.

It is typical of a Nigerian who did not study engineering, has never built a sub-marine and has never read about building a sub-marine, being the first to rise up and vocally make assertions how a sub-marine should be built with some unique aplomb!

A country of beer-parlour Professors.

No wonder the country is a shithole, everything made in the country by the people are shit and there is a heavy need for expatriates to help improve on quality.

He has not intellectually evolved to think that way, but he is silently priding himself say im be gentleman.

Who gentleman epp for Naija?

To be sincere you are 1000% right.
I have seen too many people collecting contracts that they don't know jack shit about, then they look for someone who knows something about it and they cut down the money involved to ribbons and ask you to make do.
Eventually the whole thing become a white elephant project, simply because the man who didn't know nor care about it was in charge of it.

A lot of people don't understand the risk involve in shares acquisition especially ordinary shareholders. Once the company becomes insolvent, you money is gone. Its like you owning your personal business and then you go brankrupt. Which money are you expecting again na. From the moon? By the way AMCON got no business with shareholders. Their primary responsibility is to protect depositors. I'm surprised the SHolders are coming out with this story, but again this is Nigeria.

Even here in Nigeria, Shareholders are usually the last to get paid after all debtors have been settled. I doubt the money recovered is enough to clear the bank's depositors fund talk more of having enough for the shareholders. These are basic information whoever plans to acquire shares should know.

Yankee101:
I can't remember insulting anyone. But here is the longer version of my argument, I expected if you were following bank closures you'll know all the issues at stake.


Lemme use Oceanic Bank as an example to clarify my point.
Why should the nearly $1billion dollars recovered from Ibru not be applied to shareholders funds? The judge that ruled had her daughter living in one of ibru's houses seized. Here in the US any rwcovered assets are applied to shareholders after depositors are balanced out. Tunde Ayeni of Skye bank is facing recovery. Where should the money recovered go?

Am I still in Iyana paja?

tayot1:
Even here in Nigeria, Shareholders are usually the last to get paid after all debtors have been settled. I doubt the money recovered is enough to clear the bank's depositors fund talk more of having enough for the shareholders. These are basic information whoever plans to acquire shares should know.

Money recovered from her was nearly $1b. It covered plus change. It's the corruption I'm trying to point at.

Sagamite:
That was the "Finance" you were taught at your Iyana Ipaja International University, Olodo?

Why should they be given the same % value of the old bank they had before in the new bank? Because government money is free for private investors, Professor of Finance (Iyana Ipaja International University)?

Go shut-up and siddon somewhere, this is rocket science to people like you.

Here is the lecture for you that Iyana Ipaja International University did not teach you during your "world class" degree in Finance:

When you are or decide to be an investor in a company, whether publicly-listed or private, it is then your responsibility to ensure that the company is well ran according to the laws of the country and profitably, otherwise your money is at risk.

You do this by:

1) Either having a representative on the board, who are people there to monitor the CEO and Senior Managers as representatives of the shareholder; you have this if you are a significant shareholder

2) Or you monitor the company privately by reading annual reports (if you are a small shareholder) and pull your money out if you feel the CEO and Senior Managers are reckless or not providing the financial/ethical benefits you desire

In most publicly listed companies, the government would not give a flyingshit if a company is reckless and fails, but as banks are heavily linked to the economy as they hold people's money and fund the economy, they cannot afford to standby and watch recklessness. So they take over.

When they take over, they are putting in taxpayer's funds to buy a struggling bank, which is now automatically devalued. So a good portion of your money as an original investor is gone because of the fallen value of a struggling bank you did not monitor and the money the government is putting in to save your investment. If the bank is getting seriously heavy losses, then you might even get zero!

Professor of Finance at Iyana Ipaja International University, it is your fcking responsibility as a shareholder to monitor your investment so you don't lose it, not for the government to save it for you and pay you for any losses.

For you na rocket science o!

Insightful lecture. LSE's standard.

Remii:
its hard but its the truth, Skye bank shareholders have all lost their investments, like those of bank PhB, Intercontinental, Spring, etc that went under in 2008/2008, Skye bank share certificates are mere papers now. CBN governor only talked about depositors nothing on the shareholders because they have nothing again.

Hello boss.... Are you still with crc? pls allow me have your facebook. I'm at www.facebook.com/emperormero.
I need to have a word with you.
Thanks.

Yankee101:
I can't remember insulting anyone. But here is the longer version of my argument, I expected if you were following bank closures you'll know all the issues at stake.


Lemme use Oceanic Bank as an example to clarify my point.
Why should the nearly $1billion dollars recovered from Ibru not be applied to shareholders funds? The judge that ruled had her daughter living in one of ibru's houses seized. Here in the US any rwcovered assets are applied to shareholders after depositors are balanced out. Tunde Ayeni of Skye bank is facing recovery. Where should the money recovered go?

Am I still in Iyana paja?

You have moved beyond Iyana Ipaja International University and now towards Ojokoro Polytechnic.

Next time, check your facts before making statements.

What was the basis of the $1bn dollars recovered from Ibru?

You have no clue about what you are utilising as example?

Ibru used depositors funds as her personal loan for investments, so when these funds are recovered from her, according to your Ojokoro Polytechnic education should not be given back to the depositors, instead give it to the shareholders?

Sagamite:
You have moved beyond Iyana Ipaja International University and now towards Ojokoro Polytechnic.

Next time, check your facts before making statements.

What was the basis of the $1bn dollars recovered from Ibru?

You have no clue about what you are utilising as example?

Ibru used depositors funds as her personal loan for investments, so when these funds are recovered from her, according to your Ojokoro Polytechnic education should not be given back to the depositors, instead give it to the shareholders?

You're still on this issue? You have time sha

Yankee101:
You're still on this issue? You have time sha

You have the issues!

You intellect is quite low despite one would bet you will go around calling yourself a "graduate".

I just wanted you to be aware of that as free diagnostics.