Wema bank

[riskreturn]

Originally Posted by hispy99

I guess for a bank's capital adequacy ratio to be negative, it's capital (which I assume to be equity + preferred) have to be negative?

Then, why would the bank need to inject additional capital of only 23.06 billion Naira, since the minimum capital requirement is 25 billion Naira?

[hispy99]

Originally Posted by riskreturn

Then, why would the bank need to inject additional capital of only 23.06 billion Naira, since the minimum capital requirement is 25 billion Naira?

i don't know o...i no be professor like Soludo

[idowu_k]

The President's intervention directing the CBN/NDIC to hand over the Wema Bank probe to the EFCC is an indication that the truth of the matter has not been told by the principal actors. Expecting more revelations within weeks of EFCC investigations. I only prayed that the investment of many Nigerians and even, foreigners will not be jeopardised in the process. Thus, I've resolved to embark on a thirty days prayers and fasting as a way of ensuring the security of my investment in the bank.

[Duduyemi]

Originally Posted by idowu_k

The President's intervention directing the CBN/NDIC to hand over the Wema Bank probe to the EFCC is an indication that the truth of the matter has not been told by the principal actors. Expecting more revelations within weeks of EFCC investigations. I only prayed that the investment of many Nigerians and even, foreigners will not be jeopardised in the process. Thus, I've resolved to embark on a thirty days prayers and fasting as a way of ensuring the security of my investment in the bank.

Pray for my investment in that Bank, too!

[dejino]

Originally Posted by Duduyemi

Pray for my investment in that Bank, too!

I dey sure say time for prayer don pass, na time to arrest and detain all agents of corruption! Wetin concern god for dis kin devil-induced matta?
Strangely, OBJ's name seems to crop-up in most shamefully-corrupt shenanigans? Is it just a co-incidence?
All these Bank big-shots (innocent until proven guilty sha O) dat tink depositors and investors fund is part of their family inheritance should be allowed to rot in jail. A lot of them, just before 2006 consolidation are still walking around freely and investing their loot in bank shares while NDIC uses tax-payers fund to rescue their erstwhile depositors. WHY?
Upside down mathematics l think.
Cheers and may God come to WEMA's rescue.

[riskreturn]

Those interested may wish to read the NDIC defence in ThisDay, from the Proshare website (see the link below).

Proshare News

[chidianosike]

Originally Posted by riskreturn

Those interested may wish to read the NDIC defence in ThisDay, from the Proshare website (see the link below).

Proshare News

It seems the Wema affair is even messier than we thought.
But the NSE is irrational. Dont be suprised if the share price spikes after TS is lifted.

[arcade]

Originally Posted by chidianosike

It seems the Wema affair is even messier than we thought.
But the NSE is irrational. Dont be suprised if the share price spikes after TS is lifted.

Agreed the affair seems messier but if CBN assures that the bank is still okay then it means it is a case of mismanagement which the law should take its course on. That also means the bank if in good hands its potentials are great. So, one can buy now at the TS price with the hope that a good management would come on board and give the stock a push for the 30s. Am I right?

[hispy99]

Originally Posted by arcade

Agreed the affair seems messier but if CBN assures that the bank is still okay then it means it is a case of mismanagement which the law should take its course on. That also means the bank if in good hands its potentials are great. So, one can buy now at the TS price with the hope that a good management would come on board and give the stock a push for the 30s. Am I right?

Don't know about the push to the 30's but if the last numbers provided by the bank are true, then it's obviously undervalued. However, until what is going on at the bank becomes clearer, it might be best to look elsewhere for now.

More stories on WEMA
The Punch: Workers seek conclusion of Wema Bank probe

[Gengen]

Heavy trading in Wema stock today, 26/03/08. N1.36 billion in just 28 deals.

Anybody with information on who is (are) buying? Is is a sign of good things to come?

Please respond.

[hispy99]

Originally Posted by Gengen

Heavy trading in Wema stock today, 26/03/08. N1.36 billion in just 28 deals.

Anybody with information on who is (are) buying? Is is a sign of good things to come?

Please respond.

Maybe it is because they arrested Omoyeni?

BusinessDay... the voice of business - EFCC arrests Omoyeni, ex-Wema Bank MD, for stealing

[El-Kayode]

Originally Posted by chidianosike

It seems the Wema affair is even messier than we thought.
But the NSE is irrational. Dont be suprised if the share price spikes after TS is lifted.

allAfrica.com: Nigeria: Omoyeni, Ex-Wema Bank MD, Arrested Over N450m Fraud (Page 1 of 1)

[riskreturn]

Just a trivial updating (see the link below):


Wema Bank: Lemo, NDIC MD, face ICPC Thursday

[hispy99]

More WEMA news

Guardian Newspapers

[AHMADU OLUMIDE]

am looking for shares to buy now . am a beginner in the stock stuff. i want to invest wisely.

[riskreturn]

Still another write-up, highlighting the confused state of things (see the Bussiness Day link below):


BusinessDay... the voice of business - Conflict puts focus on Wema Bank’s financial prospects

[richestowealth]

Just to add my own thoughts. I had issued a sell order to liquidate my WEMA until I noticed that volume wise it looked as if someone has been mopping up the shares. Sometime last week there was a day it did more than N1Billion worth of shares and I think yesterday it did more than 10m in volume. This is not a buy or sell recommendation but I'm going to wait it out till they sought themselves out even if it's next year.

[riskreturn]

For those students wishing to write doctoral dissertation on Wema Bank crisis, here is another update (provided in the Businees Day link below - also reported in Nigerian Tribune). I hope MDs of other banks where I have similar (or, rather, almost similar) substantial shares would not be affected by this spillover effect.


BusinessDay... the voice of business - Wema Bank scam: Police say more bank chiefs to go

[Murphy]

Originally Posted by riskreturn

For those students wishing to write doctoral dissertation on Wema Bank crisis, here is another update (provided in the Businees Day link below - also reported in Nigerian Tribune). I hope MDs of other banks where I have similar (or, rather, almost similar) substantial shares would not be affected by this spillover effect.


BusinessDay... the voice of business - Wema Bank scam: Police say more bank chiefs to go

Riskreturn.
I feel you on this wema issues, do not despair on your heavy kilos there, at the appointed time everyone will smile!!

[riskreturn]

Originally Posted by Murphy

Riskreturn.
I feel you on this wema issues, do not despair on your heavy kilos there, at the appointed time everyone will smile!!

Thank you for consoling me. When I was massively buying the shares in late 2007, my broker became curious and asked me whether I was interested in being a Board member, given the volume I was buying with the broker's share-backed facility. Never did I realise the corporate politics the bank would be engullfed in. Thank you for your concern.