‘Bosun
1.5K posts

‘Bosun
@JustBosun
HCIT Consultant | AZURE DBA | SSM | PSM | NGX Investor | U.S. Investor | Mutual Funds | Be you...do you and let God be God | Lover and Believer of Christ

I tried to sell the stake with traditional broker yesterday. It failed to execute, i tried with bamboo this morning, it has also failed 😅 We are riding this one down, e go touch 30's like this... E sure die. No more selling, I'm done trying.

In a letter dated 11th of March (attached below) published by First bank, they claimed the board meet on the 9th and approved to pay dividend subject to CBN approval. Since then they have released 2 new letters but no mention of dividend just why there has been a delay in report. Anyways First bank meeting is tomorrow and their book would be released tomorrow.

Custodian is marching on at 85naira. Don't play!


UBA & Tony Elumelu don go pay influencers 😂

UBA & Tony Elumelu don go pay influencers 😂

@TheGreatestIFE This is very much expected, fear of Peter Obi 😂😂😂😂

CBN better not let first bank pay, because I have being wondering where those ones want to get money to pay dividend when their own profit is not even up to 60B


At First HoldCo we decided to clean house properly. We took a huge one time hit of ₦748bn to admit old bad loans instead of pretending they do not exist. That is why profit looks like it crashed by 92%. Painful headline, but it is a serious long term move.

If you like, allow them whyne you The fact remains: • UBA declared a BAD result • They were not the only bank to take impairment losses • Zenith Bank wrote off impairment loss of N742B and still declared dividend • UBA wrote off N331B and declared a huge fat ZERO dividend • They still wrote off N38b this year which is concerning • Poor communication from UBA Mgt and delayed result • They are still yet to explain why they're still writing off impairment this year. It clearly hasn't finished • UBA GMD still has a lot of questions to answer. • That arise TV interview is clearly damage control and is not enough

No, I don't think it was okay for the company to organise any PR over the poor result. You have made your decision, one you already consider the best for the company. You are running a business for the long term, and you make decisions, sometimes painful ones, so that there will be a company to run tomorrow. Is the PR meant to stop people from selling the stock or what? Let anyone who wants to sell be. If you do the right things later, we will see it and the stock price will respond as appropriate. Business managers shouldn't always be afraid of what comes after making difficult decisions. And ignore what the stock price does in the short-term. Just fix whatever the issues are.






