BMS Business Leaders Hangout

09/05/2023

2 Nigerian Billionaires Fight Harder....

Femi Otedola Tells His Side of the Story, Accuses Tony Elumelu of Backstabbing and Taking Advantage of his Bankruptcy in 2008...

Otedola's Strong claims: Otedola gave Elumelu $20 million in 2005 to buy UBA. In 2008, Otedola went Bankrupt and Elumelu took over his $20m shares in UBA to offset interests in his loans.

Read Otedola's words:
“In 2005, while Tony was the Managing Director of Standard Trust Bank he approached me to get funds to acquire UBA. I enthusiastically gave him $20million, which was N2billion at that time to buy the necessary shares in UBA for the acquisition. After a short period of time, the share price moved up and I decided it is was a good moment to sell and get out of the bank. However, Tony appealed to me to hold on to the shares as he was convinced that there were future prospects – so I kept the shares.
“I became Chairman of Transcorp Hotel in 2007 with a shareholding of 5% and unknowingly Tony gradually started buying shares quietly.
“By the following year in 2008 I went bankrupt in Nigeria. Tony proceeded to take my shares in UBA to service the interest on my loans and he also took over my shares in Africa Finance Corporation, where I was the largest shareholder.
“Shortly after, Albert Okumagba informed me that an American firm wanted to acquire my shares in Transcorp, which I then agreed to sell. However, this supposed American firm turned out to be Tony Elumelu. The revelation of this prompted me to resign as Chairman of the hotel.
“Years later in 2012 Tony said he wanted to see me so we met in my office where I had previously had a meeting with foreign investors who had not yet departed the premises. Curious to know, he asked what sort of meeting I had had and I disclosed that I wanted to go into the power business, specifically Ughelli Power Plant. Tony quietly went ahead to bid for Ughelli and he outbidded me by offering to buy the plant for $300million.
“And as a some would say: the rest is history.
“Fast forward to the present…
“I offered to buy Transcorp Plc for N250 billion, but unfortunately, my offer was rejected. My goal was to maximise the company’s potential as a Nigerian conglomerate with a market cap of at least N2 trillion instead of the current N40 billion, but it seems some shareholders have a different vision.
“As a businessman, I believe in healthy competition and market dynamics. Two captains cannot man a ship, and I respect the majority shareholder’s decision to buy me out. This is the nature of the game.
“But let me be clear: my offer was made with the best intentions for Transcorp Plc and its shareholders. I saw an opportunity to unlock the company’s full potential and create value for everyone involved.
“It’s important for investors to understand that free entry and free exit are crucial to healthy markets. The scramble for shares after my acquisition is a testament to the value that Transcorp Plc can offer, and I hope the company continues to thrive under new leadership.
“My message to Transcorp Plc and its shareholders is this: I remain committed to the growth and success of Nigerian businesses, and I will always be looking for ways to create value for all stakeholders. Stakeholders are unfortunately always shortchanged by getting stipends while the owners and managers of the business live a jet set lifestyle, which is detrimental to the stakeholders. Thank you for the opportunity to engage in this exciting chapter of Transcorp’s history.”

Elumelu has yet to officially react to the allegations levelled against him.

Source: Premium Times

23/10/2022

The pix below shows USA's Anita Alvarez as she sank slowly to the bottom of the pool at the world championships in Budapest recently. Her coach Andrea Fuentes, scanned the pool deck and made a split-second decision: She dove in to save her.

This image should remind us of the importance of coaching and mentoring. This coach had the ability to recognize when Anita was under the water longer than she normally could. This coach had the desire to help. This coach had the willingness to save. This coach acted while others were still watching on the sideline We have too many young folks drowning right before us especially at work, in the church etc. We watch as many walk away & unfortunately, some, even taking their own lives due to the pressure that comes from navigating life's challenges Every Paul needs a Timothy and every Timothy needs a Paul. If you’re a young person that doesn’t have a mentor, find one Now. If you’re a seasoned vet and don’t have a mentee, find one Now There's no excuse for anyone to drown.

13/10/2022

An entrepreneur is a creator of value, wether tangible or intangible. Succeeding in business is determine by your creative ability, who would have thought that anyone can manage a transport company without a fleet of cars, manage a media company where the subscribers are the content providers, run a retail store without inventory, provide accommodation without owning an estate and the list is endless. You can add more in the comment.

26/08/2022

FIND A MENTOR

Few can do it all alone in whatever you’re looking to do.

In fact, you’d be crazy to try to take everything on by yourself without any guidance.

I’ve lost years of my life building things that failed because I didn’t take the time to ask someone who did it how they did it.

Finding a mentor doesn’t necessarily mean spending thousands for a coach, though this can help propel you with the right person.

You can identify people who could help, find a way to help them collaboratively, and forge win-win relationships.

Why make endless mistakes when you can talk to people who already made those mistakes and have them show you the way?

Find one person to speak to today, and ask.

Lengdung

15/04/2022

One of the travesty of life is when you make input in a life who expect you should always commend them, not ready to improve. Becareful, so you don't go mending fences on a faulty foundation

08/04/2022

When we say an entrepreneur is a creator of value most people think it takes complicated strategies to provide complicated solutions. Well, entrepreneurs anywhere in the world can create simple strategical solution that will increase customers patronage.
Welcome to a solution filled week!
!
🙏👏💯










💪💯

15/01/2022

When the King dies, I will be the next King.

Marcus Junius Brutus was a Roman senator and the most famous of the assassins of Julius Caesar.

He was very close to Julius Ceaser the leader of the Roman Empire. Brutus eventually formed an ally with opposing faction to fight Ceaser but was defeated.

Ceaser granted him amnesty and also brought him closer to himself.

Second plot was planned to assasinate Ceaser and he (Brutus) led the plot which Ceaser was eventually assasinated.

Ceaser adoptive son became consul and declared Brutus and his coconspirators murderers which led to another war.

Brutus and his faction was defeated again.

After the defeated, Brutus committed su***de.

His name has since become synonymous with acts of intimate public betrayal or treason, and is perhaps only rivaled in this regard by the name of Judas.

Beware of those who always seek for your position

They are possessed by the greed of Lucifer

Most times they are close friends, brothers and relatives.

They will become king when you die. They are happy to see you dead.

Your mistake is their gain

Your failure is their success

They always find their ways close to your heart.

They want nothing other than your position.

Be careful of such men.

01/01/2022

You made business fun for us in 2021 let's do it again in 2022.

25/12/2021

May the joy and peace of Christmas be with you all through the Year.
Wishing you a season of blessings from heaven above. Happy Christmas.

19/12/2021

O R G A N I C

How do you carry out your business? Does your surbodinate knows what goal to achieve? Does your management knows what passion drive the stakeholders?

The reason why there is an organisation is because people are expected to do things in an organise way. An organisation is a system were things are done in an organic way to achieve a corporate goal...

Watch this space for our monthly business seminar in 2022 and young professional forum in your neighbourhood. Your business will experience a dynamic change for good.

Thank you for being a part of our business in 2021, lets do it again in 2022!

For questions or further inquiry on how we can support your business team contact:
BMS Consultancy 08118856928 (WhatsApp only)

Ben K. Adams (Business Leadership Coach)

05/12/2021

THE HUMAN TOUCH

"Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients"

“The greatest technology in the world hasn’t replaced the ultimate building tool between a customer and a business; THE HUMAN TOUCH”
— Shep Hyken

For questions or further inquiry on how we can support your business team contact,
BMS Consultancy

Ben K. Adams (Business Leadership Coach)

04/12/2021