₦airaland Forum

thebargainhunte:
He has no reason keeping the share price that low. The Brent has been trading between 80-100 dollar, yet it doesn't translate to anything good in OANDO. OANDO is more connected to the center than any other company, but they are after their own pocket without considering that the investor that gave out his money also needed good life.No dividend, no price appreciation and you want me to believe it wasn't calculated effort to frustrate the minority shareholders. First bank has never lagged behind when it comes to price appreciation, it has been following UBA and Access back then bumber to bumper. What is stopping OANDO from following ARADEL bumper to bumper?

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

ppogba:
The next will be to sponsor the annual New Yam Festival.

After that he will also sponsor Argungu fish festival. the guy don kolo.

loll..lllllllll

BabsO2:
Looks like he is looking for all sorts of reasons to stop or force banks to reduce dividend payments for a couple of needs.

i have mentioned it here a couple of times. Everything is already bordering on regulatory overreach. This (regulatory overreach) is one of the major reasons of discounted value of Nigerian banks when compared to African peers even before current management, although current one has even upped the thing now.

Agbalowomeri:
Is Oando not list on Johannesburg stock exchange? Which dual listing again

no mind the job man. was he not listed in Toronto Stock Exchange before? wetin be the outcome /benefit of it then before he ran away and ran to Joburg, since hin don go Joburg what has been the benefit.

The guy na just megalomaniac

[quote author=isaacosas01 post=140566335]Please go and read the detailed Renaissance Capital initiation report dated today, September 7, 2026.

Everything you need to know including financials is there. [/quote

Hello Chief. Grateful if you can oblige a link to this report

ppogba:
The time they use hand to touch ear, three shifts of school no dey by then.

Some of us wey be children for this forum Sabi small.

My Oga, I no talk say you dey lie o. I just talk say you no talk true.

OK ooooo. You na City boy (what we call Lagos Boy in those days) naaaaa

Na Jakande come change the thing to daily for Lagos late 70's / early 80's after he build all those poultry like classroom (which was good by the way).

we na inside forest them raise us. You go waka at least 5 - 10 km to school.

chimex38:
You, night school?

Our analyst for near-perfect estimat for then WAPCO buy-out and share-price amount

I hail you🙌

My Broda

Na night school ooooooo. that time na three shift dey, Morning, Afternoon and Night

the criteria to enter standard 1 then na if your left hand fit touch your right ear taking the hand over your head

na palm oil lamp my grandpa dey give me go school to use as torch

Dat na long long time ago.

mikeapollo:
Let's focus of facts. That's how we can educate ourselves to take informed decisions on any stock.
Equating someone here to Elumelu, Otedola or Wale is neither here nor there.
I am even grateful that you ''promoted'' me and equated me with Wale, a billionaire. At least, it is better than alleging that I am always ''defending'' him.

Now you are seeing the good side of my post that it is a "promotion"

mikeapollo:
You are the one being emotional, always throwing up allegations, calling one names etc.
Each time an opinion is expressed on Oando that may be contrary to yours, you personalize it right away.
You have even promoted me from ''defending'' him, and have now given me his name..

I did not shade you. I only referred to the source of information that formed the basis of my opinion. I was expecting you to say my source is inaccurate or a lie. I cannot conjecture phantom reactionary theories or allegations just because I am not happy about the situation of the stock.
Let's focus on facts, and put the right pressure where it matters.

Oga Mike. i can only lollllllllllll

Emotional on Oando how many of its post have i commented on, i beg i get better thing to do

i have told you that if someone equates me to Elumelu or Otedola, i will take it as a good humour. does it mean this gentlemen are not being dragged also in the media, dont they come with their own negative baggage?

i am sorry oooo. if you dont see the humour in my equating you to wale

mikeapollo:
I read the AFS and understand that the company is hugely indebted. They also announced they want to raise fresh capital to settle the debts
If you dont know or understand the above, then I cannot force you to.
My investment decisions/appraisals are not controlled by emotions. Once I lose confidence in the prospects and management of a company, I sell off and have my peace. Anyone can do same, including you.
No need attacking or calling anyone sharing his opinion names. It is petty, amateurish, childish and doesnt make sense
I

Oga Mike. Na for where i call you names in my post? I only equates you to Wale via an alias. If anybody alias me as Elumelu or Otedola, i will only laugh and take it as good humour.

You need to be less emotional on Oando.

As for the shade on being able to read AFS, i take it in good faith because i have never denied that i went to night school.

FYI this moniker also is in the Oando boat albeit since several years back and already written off from my books.

Selah

mikeapollo:
I guess seeking to list on another exchange is to enable them raise equity/debt capital in dollars/euros.
They need huge funds to clear the commercial loans costing billions in finance costs thereby draining profits.

Abeggiiii. Make Wale (alias Mikeapollo) face front

Which huge funds does he need wey wan pass Aradel and Seplat own

did Aradel listed on multiple exchanges to achieve its own

Even Seplat wey list for London na very recently dem list

what has been the benefit of Oando listed in JSE after more than 10 years

that is after listing on Toronto exchange earlier on

The guy is just a confused man all because he wan chop alone

KarlTom:
Seems OandO intends to deal in cryptocurrencies and tokens wrt the digital assets mentioned in the Res 3.2
Similarly, OandO is seeking permission to list on another exchange. Are they going to exit the JSE or end up listing on at least three (3) exchanges?

We dey observe

If the above is true then Wale is finally confused

megawealth01:
The only reason transcorp woke up was because OTEDOLA indicated interest.. So Tony had to jack the price up and settle with Ote$

Make rumors go round that OTEDOLA is eyeing OANDO eh, you won't even see it to buy at 200 naira within 3 months...

I just finished reading his interview with Nairametrics.

I must say I am VERY impressed, particularly with his reasoning/thinking on the valuation of Nigerian banks and how to address the factors underpinning the low/wrong valuation.

megawealth01:
Tony surprised una with bumper harvest in 2024... Why una dey complain now?

Make he sha not try all these with SEPLAT if he does eh... I no go talk wetin I go do sha

Because he wanted to raise a war chest for UBA recapitalisation to ensure ownership is not lost. Not necessarily because he loved the retail holders.

HesInMe:
Could you please explain this a bit more? Not sure I follow. Even if Gencos made no provision for loses on the debt owed to them, how would (full?) repayment negatively affect their earnings?

One would think that, at worst, impact would be zero. More likely, they'll reverse provisioning (which had been net negative to earnings) and book profit. I'm not an accountant, but what am I missing?

if they are yet to provision for the receivables (despite it being outstanding for a long period without payment as dictated by IFRS 9). It will mean they are carrying the receivables at face value on the balance sheet as assets. However, because the government is not paying the debt owed at face value (i.e. it is paying at a discount ), the discounted part will have to be recognised as a loss in the P&L in the year the debt is paid while on the balance sheet, the amount paid will move from receivable to become cash.

StockBaron:
Keep an eye on Transcorp PLC…
With FG’s plan to raise the second tranche of bonds to clear legacy power sector debt, liquidity will be freed up for its power subsidiaries.

Read more:

https://www.cowryvest.com/2026/03/transcorp-fy-2025-results-analysis.html

https://businessday.ng/energy/article/fg-to-raise-n729bn-bond-to-clear-power-sector-debts-restore-liquidity/

Dont be too excited on this. it might even affect the performance negatively depending on whether there had been adequate provisioning for the debt as per IFRS standard. remember they had been carrying the debt as receivables and the FG is paying based on agreed haircut to the debt, so if they had not make provisioning for this before now, then it will impact the performance negatively. All said it should be positive for cashflow.

mikeapollo:
I have told you:
E lo 'fokan ba'le
Only the patient can ''eat'' from Wale's ''pot'' because he is slow in ''preparing the meal''

The same way you were scared about LASACO.....but it has delivered 81.5% growth in profits now.

He is slow in preparing meal indeed. It should be he is siphoning the ingredients/ materials to cook the meal hence why the meal is taking forever to be done

pluto09:
lol.
That would have been a good idea if the managers could be trusted

but the target (10% of SHF) is actually a moving target depending on how fast the subsidiaries grows. that is where the dilema actually is

megawealth01:
OANDO suppose do below 40 naira before wale go wake up

The guy man no care.

what he cares about now is the RI @ 50, and how he is going to corner everything (or nearly all) of which price at sub 40 will even help him achieve better.

The only time there will be sustainable appreciation above 50 will be after the RI

I have said this before

BabsO2:
I am saying, I hope it's not arbitrary.
That I hope it's an evolution of learning and safeguarding against risks from toxic assets.

That I get all what you are saying that I agree more slack needs to be given to reduce risk to ALL stakeholders including ACCESS.

Asset disposal is not a piece of cake. Neither is gathering of more equity investment funds. ACCESS should please be given more time and more options to mitigate perceived risks.

ok then.

BabsO2:
Total Equity of Access to Total Assets is only 8% in the Audited 2025. That is even thinner than the Nigerian Bank Average. I am just speculating that CBN is trying to save ALL stakeholders from toxic assets. Raising more liabilities and equities comes at costs that could even worsen profitability.

Oga Babs

i have heard you but you are not paying attention to my concern "arbitrariness".

i agree that the 8% you stated above is quite low per the average within the Nigerian banking industry and should be worked on by Access (Notwithstanding the fact that the figure is within Basle requirement)

my point is why the focus on selling of subsidiaries as a means to achieve that aim. when the ratio has two other components?

In terms of liquidity (i.e. easy to achieve/sell/realised) the most liquid component of the ratio is the "liability" several of which will expure within twelve months (e.g. fixed deposits/ CP/ Bonds e.t.c) why not forbade the bank from taking fresh liabilities when those ones matured towars achieving the desired ratio?

another reasoning is that the equity part of the ratio has several other components apart from "sale of subsidiaries" which are easier to achieve than the desired "sale" e.g. retaining profit. so why not this route other than the sale of subsidiaries? are the subsidiaries making a loss (i.e. leaking capital)

BabsO2:
Regulations need to be updated as new knowledge or risks emerge. However as it’s a new regulation CBN should give more time for compliance.

Equity + Liabilities = Assets

Equity is about 13% of Assets for the average Nigerian Bank. That’s a thin cover.
10 being a round number may be what is pushing CBN to bring that 10% restriction. To preserve depositors and the banking industry from risky acquisitions.

I dont see how what you stated correlates to closing down subsidiaries.

For sake of argument, lets agree that it does. To the best of my knowledge the equation you portray has 3 components and any of the 3 could be worked on to bring the ratio desired by the sheriff. So why insistence on just a variable impacting only one of the components

Sunrisepebble:
There is a new Sheriff in town

The sherrif is not new (50% of his first term gone already)

I am positive one or two of the acquisition will have passed through the sheriff for approvals (which was not decline)

The sheriff should avoid arbitrariness otherwise how does he want to portray an higher moral grounds than the players he is policing

Sunrisepebble:
I agree.

i beg to disagree

while i am also not in sync with Access aggressive expansion of late. However, the treatment being meted by the regulator look very arbitrary and might not pass a test of logic

1. Didnt the regulator approved each of the buying in the first place? (because such buying are subject to regulatory approvals)

2. if so what had changed between the approvals and now to warrant a rollback?

3. for the sake of argument let accept a rollback is justified, how was the 12 month deadline (for sale) arrived at?

4. Does precedent (of mergers & acquisition) support the 12 months (when most of the buying took more than 12 months)

5. how was the 10 of SHF arrived at? what are the metrics driving the limit set?

6. is the regulator leaving the realm of regulation to dictate how a private coy deploy its capital


n.b i have very minimal and inconsequential units in Access but only concern about regulatory overreach

mikeapollo:
It is a miracle to me that you are praising Wale! Or is it defending?
Am I dreaming?

i am not defending or praising OJT or Ote$. I am just stating historical fact.

all this info are in public domain

mikeapollo:
Wale must make sure this does not happen in Oando!
Serious warning to him!

It had happened already just before covid and right after covid (during the low price oil era sub $40)

but he was able to sit down with the banks to restructure and service the restructured loan.

even i think in 2022/2023 he further had to restructure the restructured loan (everything is in the AFS)

At least we should give him kudos. all through that period he lived low profile and was servicing the loan to the best of his cashflow which was not hidden from the consortium of banks.

That is how an upright person should behave.

Recall that something similar also happen to Otedola when the price of diesel moved heavily against him and he was nearly bankrupt (he mentioned everything in his book). the only issue he had then was with Wiwgwe and it was not about the veracity of the loan but about the exchange rate to be use for the conversion of the loan (because they were in FX) which in itself was also amicable settled later

My point is bizmen shld make it sacrosanct that bank loans are repaid because in the actual sense the money does not belong to the banks but to ordinary citizens who kept such money with banks

robobo:
what do you want to say

is it politics that is not making him to pay his debt or find an amicable settlement way out with the banks

pleaseeeeeeeeeeeeeeeeeeeeeee

that is how these same warped mindset businessmen ran up bad debt prior to 2009 which later became AMCON baby which the whole banking industry has been paying for since then till now

go and check any bank AFS. Annual AMCON levy is one of the biggest (if not biggest) expense line in the OPEX of banks

in some cases even higher than total salary paid by some banks to ALL their staff for a year

Habaaaaaa

megawealth01:
I no go say anything about nestoil before here will turn to politics thread

what do you want to say

is it politics that is not making him to pay his debt or find an amicable settlement way out with the banks

pleaseeeeeeeeeeeeeeeeeeeeeee

GeneralDae:
Cardoso is very strict on these things. He wants the banks to have a clean book and not pretend all is well when they have issues like this.

From the above this is actually not a Cardoso problem. The problem is actually the wrong mindset of an average Nigerian big man. Get bank loans, live lavishly and dont repay.

Abi, is it not the same O&G industry that this borrower is operating in that the like of some other indigenous players doing well for themselves because they were disciplined.

The alternative is for the banks to shun financing such indigenous initiative (like GT and other multinational banks does) but which will be to the detriment of building local capacity (think how Dangote grew in the last 25-30 years starting out with borrowing in local market or the growth of other local indigenious O&G players e.g. Aradel e.t.c.)

smasher1:
https://www.thecable.ng/concerns-mount-over-banking-stability-as-nestoils-bad-debts-implicated-in-three-banks-failure-to-pay-dividends/

https://nairametrics.com/2026/05/03/nestoils-bad-debt-triggers-dividend-freeze-for-3-major-nigerian-banks/


Dem say na Nestoil no make UBA/ ACCESS pay dividend ooooooooo

total exposure of 2.16 trillion to the industry

na wa oooooooo

mikeapollo:
My legs go dislocate for your hand one day. And you go buy me milk, Milo, eggs, bread, mayonnaise, custard, malt, FIRST so that I can recover BEFORE you take me to hospital and buy Panadol, Rub, embrocation, etc. because I have fallen sick for your hand.
If you like, continue. I don talk my own.

i beg no kill me oooo