FatherOF2:

My brother no be my fault oh. I never go desert yet oh. My mouth never still close since public holiday when DOW loose 777 till now.If DOW dey take hammer like this, i no wan look NSE at all. I go soon sign my SEMINARY application form. Technicals dey fail now. People no wan gree, na worldwide panic we dey now. Na watch and see we just dey. I dey go submit my form on Monday morning by 2pm.If market change by 1pm i go withdraw my form.

. . . . Things fall apart, the centre cannot hold, mere anarchy is loose upon the land . . .

If this thing hit Asian market well, well . . . They wey no too get liver . . . Many of them na to dey waka go find tall tree with strong rope for hand . . .

SEC queries NSE over N600bn bail-out plan

http://www.punchontheweb.com/Articl.aspx?theartic=Art200810092354453

Latest information indicates that the bail out package is being upped to N1 trillion with the indication of interest by four more banks to join in as market makers

http://www.thisdayonline.com/nview.php?id=124807

Someone please tell me,IS THIS REALLY going to WORK?IF YES HOW?

I dont know how it will work. More scary is - THEY dont seem to know how it will work. All they can do is buy shares and if all the "investors" going through hell decide to stampede for the exit the market makers will be swamped and shares will tumble again. These are difficult times indeed.

Truth is the market was immorally overvalued due to excess credit, manipulation by unscrupulous brokers and a flood of amateurs rushing in to make a "killing". Days of reckoning are here! For me buying stock is like driving a car without steering and only brakes- you can stop anytime you want but you have no control over where the car goes! Newbies are just finding out that what goes up MUST come down especially it it doesnt have the engine of sensible valuation.

On the international scene today is the day of days- All credit default swaps issued by the now bust Lehman Brothers are coming up for settlement! Today we shall discover who is holding what useless paper! They say when the tide is high you dont know who is swimming naked, now the tide is moving out and we shall see some ugly things!

With the economy crisis in the world and stocks falling left and right, is it the best time to invest in Nigerian Stocks or not.

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FatherOF2:

My brother no be my fault oh. I never go desert yet oh. My mouth never still close since public holiday when DOW loose 777 till now.If DOW dey take hammer like this, i no wan look NSE at all. I go soon sign my SEMINARY application form. Technicals dey fail now. People no wan gree, na worldwide panic we dey now. Na watch and see we just dey. I dey go submit my form on Monday morning by 2pm.If market change by 1pm i go withdraw my form.

Wetin you go do your 2 children, and your wife.But no wahala,once you can make money in seminary school,I fit join you later.Nowadays people dey find plan B.

husu:

Wetin you go do your 2 children, and your wife.But no wahala,once you can make money in seminary school,I fit join you later.Nowadays people dey find plan B.

My two pikins go do ALTER BOYS, my wife go do SISTER. I hear say school still dey for this kind work.

Krrush:

. . . . Things fall apart, the centre cannot hold, mere anarchy is loose upon the land . . .

If this thing hit Asian market well, well . . . They wey no too get liver . . . Many of them na to dey waka go find tall tree with strong rope for hand . . .

Some of dem no dey wait look for tree. I hear say d pole wen dey inside wardrobe dey reach dem do HANGING. You know as dem short.

I just cheked http://adten.org/stock/companyDetails.aspx?comid=157 and I discovered that the Tech sus. on Wema Bank has been lifted, any more news please?

FatherOF2:

Some of them no dey wait look for tree. I hear say d pole when dey inside wardrobe dey reach them do HANGING. You know as them short.

You wan take laugh kill me. Except you bought shares at 2005 PO price, you are not immuned. Na wa o!

God help us.

debenzd:

You wan take laugh kill me. Except you bought shares at 2005 PO price, you are not immuned. Na wa o!

God help us.

My fear be say make the Asians no come increase their faking, cheap and poising raw material level to make more money in order to recover. he reach to beware of made in China anything for now. People wey fit kill themself for slender matter like temporary loosing 50% of your portfolio fit kill any one you know. LOL.

debenzd:

You wan take laugh kill me. Except you bought shares at 2005 PO price, you are not immuned. Na wa o!

God help us.

May God really help us.

CBN MAY LOSE CONTROL OF BANKS


http://www.guardiannewsngr.com/news/article04//indexn2_html?pdate=111008&ptitle=CBN%20May%20Lose%20Control%20Of%20Banks

no gainers? cheiiiiii

no gainers? cheiiiiii  

it's time like these they should shut the market, let those brokers
straightened themselves, release investors certificate, upgrade their I.T dept and customer service
and iron out the share-buy back scheme three weeks or a month will do!!!

Dis Guy:

no gainers? cheiiiiii  

it's time like these they should shut the market, let those brokers
straightened themselves, release investors certificate, upgrade their I.T dept and customer service
and iron out the share-buy back scheme three weeks or a month will do!!!

GOOD TALK! GOOD TALK!! GOOD TALK!!!

3RD QTR SEPT 2008
LAW UNION $ ROCK PERIOD ENDED 30-09-2008 TURNOVER 08 N3.004b, 07 N2.005b

PBT 08 N642.292m, 07 N324.330m

TAXATION 08 (N128.458m) 07 (N64.866m)

PAT 08 N513m, 07 N259.464m

RETAINED EARNINGS 08 N385.375m, 07 N194.598m

BAL SHEET INFORMATION FIXED ASSETS 08 N419.997m,

BAL SHEET INFORMATION FIXED ASSETS 08 N419.997m, 07 N323.393m

TRADE DEBTORS 08 N2.387b, 07 N1.637b

CASH AND BANK BALANCES 08 N89.260m, 07 N81.667m

OTHER DEBIT BALANCES 08 N3.735b, 07 N3.544b

TRADE CREDITS 08 N628.553m)07(N610.000m) OTHER CREDIT BALANCES 08(N1.610b) 07 (N1.155b) WORKING CAPITAL 08 N3.973b

NET ASSETS 08 N4.393b, 07 N3.821b

Only two bank stock appreciated today out of the whole stocks on NSE , no something is just not right here

Thank God alas. Wemabank is off the hook.
The thing loose sha

NEW PRICE N27.96
THE RECONSTRUCTION OF ECOBANK HAS TAKING PLACE. THE NEW PRICE IS 27.96.

THE ECOBANK RECONSTRUCTION WAS DONE AT THE RATIO OF 1:3.THE STOCK HAS MOVED FROM FULL SUSPENSION TO TECHNICAL SUSPENSION,THE PRICE STILL STAYS AT N27.96K

6 MONTHS SEPT REPORT 2008
UNIVERSITY PRESS PLC, 6 MONTHS ENDED 30-09-2008 TURNOVER 08 N714.495m, 07 N383.549m

PBTAXATION 08 N168.235m, 07 N55.629m

TAXATION 08 (N50.674m) 07 (N16.810m)

PAT 08 N117.561m, 07 N38.828m

3 days now and nobody has posted here
I dont blame anyone sha, i've watched my personal portfolio lose over N2.7m within 2 months. I usually buy for long term and so most of my shares were bought during the POs in 2004, i'm still in the gain but i dont know for how much longer. Its saddening that cash is rapidly losing value but i take a positive from it. I've watched to see the intensity of blood shedding each stock goes through and i have to say that banks like 1st bank and UBA have surprised me, Zenith continues to impress me by shedding minimum blood - that shows a lot about them.

fellow nairalanders,

i was made to understand that econbank had just concluded a reconstruction scheme.
no wonder the share price rose from N7 plus to N27 plus.

my question now is, are they dividing the number of shares already held by 2, 3 or 4?

i would really love to knw.

cos access bank did some like this few years back.

theirs was by 2. that is the number of units held before the reconstruction was divided by 2 and the share price was multiplied by 2

thanks

Unhealthy Rivalry Hits Banking Industry

THE unbridled rivalry and unhealthy competition witnessed in the pre-consolidation era in the banking sector appears to have reared its head again.

It has been reported that some desperate and unscrupulous banks now resort to rumour mongering and blackmail to discredit and de-market others, especially their more successful counterparts.

Recently, the financial industry, especially the already battered stock market was jolted to near panic, following the circulation of a text (SMS), suggesting that five of Nigeria's prominent banks were enmeshed in liquidity crisis as a result of their alleged over-exposure to the stock market and advised depositors to withdraw their funds from such banks.

Before then, two of the banks were singled out for de-marketing over alleged liquidity problem. According to some market insiders, the smear campaign may not be unconnected with the battle for plum accounts.

Recently, three of the leading banks were locked in a bitter battle over the control of two prominent corporate accounts and a federal parastatal. Two of the banks that eventually won the accounts later became victims of the rumour mongering on distress.

However, some stockbrokers attributed the de-marketing campaign to the recent appointment of First Bank, Union Bank, UBA, Intercontinental Bank and Zenith as market makers by the Nigerian Stock Exchange (NSE) in the wake of market meltdown in the stock market to help arrest the dwindling fortunes of the market.

A market maker is an intermediary, who creates a market for financial obligation and undertakes to buy and sell securities as a principal. Simply put, a market maker is supposed to create demand and supply in the market, as the case may be. The business of market making is not for everybody, as it is usually for a select few who have the means.

One of the major reasons the Nigerian stock market is on a free fall, analysts say, is because prices are driven by market sentiments and not the fundamentals. The presence of market makers will ensure stock prices are rationally determined.

But some observers said the NSE bungled the exercise by its failure to set criteria for the appointment of market makers, adding that if the NSE had done so, the unnecessary jostling by banks would not have arisen.

Some stockbrokers are also worried that while the controversy is rages, the Securities and Exchange Commission (SEC) has not made its position known and appears unconcerned about the stock market meltdown.

Foreign Banks Grant Intercontinental Bank $2bn Confirming Line
, As half year gross earnings hit N121 billion[/color][color=#990000][/color][color=#990000]


More leading global financial institutions have established confirming lines of credit with Intercontinental Bank Plc, just as several existing lines are also being increased bringing its portfolio of such resources to $2.1billion.
The Belgium financial giant, ING, has opened a confirming line of $50 million with the Nigerian bank just as its German partner, BHF Bank, increased its credit lines for the bank to $15 million.
Among major global banks with similar relationships with Intercontinental Bank are, Citibank, Deutsche Bank, BNP Paribas, ANZ, Commerzbank, HSBC etc.
This development came at the heels of the bank’s impressive financial results for the half year ended August 31, 2008, which show gross earnings rising to N121 billion, representing a growth of over 99 per cent against the N60.9 billion achieved in the corresponding period of 2007.
Shareholders funds also rose to N213 billion, while deposit base stands at about N1 trillion.
The results, which were approved by the Nigerian Stock Exchange (NSE), last week also show a profit before tax of N24 billion, an increase of 63 per cent from N14.7 billion in the previous year.
The bank’s customer base has been upbeat due largely to aggressive drive for retail business and corporate banking.
The consistent strong financial performance over the years coupled with its global positioning strategy may have earned it The African Bank of The Year 2008 Award and The Financial Brand of The Year Award in one of the events at the just-concluded World Bank/IMF Annual Meetings in Washington DC.
The bank opened its first European subsidiary, Intercontinental Bank (UK) Plc, in London during the year. This marked the bank’s continued international expansion that began in 2006 with the opening of Intercontinental Bank (Ghana) Limited and its determination to be in every continent of the world.
The Group Chief Executive, Dr. Erastus Akingbola, said: ‘‘The opening of Intercontinental Bank’s London office – the first outside of the African continent– signals our continued commitment to emerging as one of the top 100 banks in the world.’’
Fitch Ratings, a leading global financial rating agency, has recently affirmed Intercontinental Bank Plc’s National Long-term ratings at A+. The interpretation, according to analysts, is that the bank is a low risk and very safe financial institution.
The agency also affirmed the bank’s international rating at B+, which is the highest for any Nigerian bank as at date by Fitch Ratings.
Standards & Poor (S &P), another leading international rating agency, has also pronounced the bank’s international rating as BB-, which is the highest for any Nigerian bank as Nigeria’s sovereign rating is capped at BB-.
The S & P Rating statement in London listed Intercontinental Bank’s strength as strong market position, robust funding and liquidity as well as good capitalisation.
According to S & P, ‘‘Intercontinental Bank is a tier 1 Nigerian bank with a good presence in the high end corporate, commercial, public and retail sectors. It was the first Nigerian bank to reach the N1 trillion deposit mark due to a strong retail deposit portfolio. Intercontinental funding and liquidity profile is robust with a large liquid asset cushion’’.


I see the bank has spared nothing in the past week to convince the banking,investing and general public that it's very very very healthy,what with all the stories that made the rounds about it's "imminent collapse" owing to the pulling out of funds by some foreign investors

[size=14pt]Silence does not mean absence.
Husu, father of 2 and co, I greet[/size]

I guess what the stock market needs is way out. Our so called big banks should be willing to finance entrepreneurs and that includes student and you'd be surprised to see the economy and the market pick up.
What I think is wrong with the Nigerian market is a bunch of confused administrators using the global economic crisis as a cover up to their gross inefficiency and lack of consistency in policy.

can any one recommend a good stock broker.

na this page we still dey for here. this one pass 1% rule. lol

Are their any good stocks to buy now

www.moneysaversforum.com

[color=#006600][/color] hello my name is bukayo i live in nigeria and i will like to know you more better, i run some internet business but lack capital if u are intrested in the same business u can contact me or im me bukola4u2see@yahoo.co.uk

[color=#006600][/color] hello my name is bukayo i live in nigeria and i will like to know you more better, i run some internet business but lack capital if u are intrested in the same business u can contact me or im me bukola4u2see@yahoo.co.uk

hello, nairalanders am new here and i need your candid advise on the stock market cos i planned investing for short time but i end up, can anyone tell if the stock market will have to offer before december 2008 ?