Born2berich:
You are right but not fully......Myjoy still shares in the blame and I will let you know why.
Apart from his over optimistic stance, he said and I vividly remember that he said he saw oando result which is ready and that it is not that bad.....what the heck?? This is the worst result I have ever seen so it is either myjoy didn't have that insider connection and didn't see the result as claimed( meaning that he lied) or he saw the result(or at least had knowledge about the bad result) and had some reasons best known to him for not saying the true state of oando result on time. Thereby misleading the people to hold on to the stock knowing fully well that he has a lot of fans/loyalist here.
I don't have an issue with myjoy as he is my good friend but he has to come out one day to clear this issue.

Also, this is a good sign as it will now make us to carry out our home work and make proper analysis rather than wait to be spoon fed from someone that doesn't have any analytical or fundamental backing.....Also this will greatly reduce the level of sentimental and emotional investment that has swayed us over the years... This is. my 5kobo contribution

My very good friend, Sir Born, it is very clear that emotions are running high and people are very angry with the results presented by Oando because there hard earned money are involved. I will take responsibilities concerning the misrepresentation and miscommunication of my post on Oando's optimism or confidence as it was stated by many. One thing is very certain, something certain unethical, conscienceless, ungodly, and inhumane happened along the road (And this would be made clear as time goes on). Don't be surprised if you see some top Oando management resigning their position (Plz don't quote me). As I said, Myjoy08' had no intention of misleading anyone because I have a conscience to defend but want the BEST for everyone. Even one Oga stated here that I haven't bought stock in my life, well u're wrong about that. We are not here to flex muscle or brag with our nets-worth but I can assure you that Millions of Naira are loaded in stock with the grace of God. As I always stated in my post that your due diligence matter and I wouldn't stop saying that. In all, am SORRY once again and BNSITLs' can move forward with other opportunities awaiting us. God bless everyone! God bless our struggles!! God bless BNSITL!!! God bless Nigeria!!! It is ONE LOVE AS USUAL!

Monkey for sale.Gospel according to WT says pls endure one more quarter of loss. https://www.thecable.ng/tinubu-explains-oandos-loss-blames-oil-prices-naira-weakness. Wale Tinubu, group chief executive of Oando
Plc, has blamed the company’s record loss on
falling crude oil prices and the weakness on the
naira.
Tinubu said his company was brave enough to
let out its financials with the needed integrity, a
virtue he believes will help the company recover
after one more quarter of loss.
Speaking in an interview with CNBC Africa,
Tinubu said what his company did was to ensure
financial integrity, while preparing for the future.
“We see it as a means of ensuring that the
integrity in our finance is kept at ultimate
priority, we seek towards creating a platform to
deal with the challenging future, which we see
would occur in the next couple of months as a
result of weak oil price and dwindling exchange
rate and an increase in interest rate,” he said.
He added that the impairment experienced by
the company does not in any way affect the
company’s recent acquisition, Conoco Phillips,
which was bought for $1.5bn, one of largest
acquisitions in the history of Nigeria’s oil and gas
sector.
“The impairments do not affect in anyway our
acquisition of the Conoco Phillips portfolio,
impairment relate primarily to legacy asset,” he
said.
He said with the oil price recently gaining
stability, Oando is seeing renewed interest from
investors, adding that his firm recently signed a
contract with Chevron to deploy one of its rigs at
$80,000 a day, to go onshore next week.
Speaking to the thoughts of investors at such a
critical time, Tinubu said the company’s focus
remains on exploring the right assets with
dwindling oil prices in mind.
“The positive story going forward is that we as a
country that has integrity in its financial, has
been brave enough to do what is right…when the
future of the oil price is uncertain, such that
everything that it keeps on its books is
generating at a cash policy of profitable nature.
“We have also done a successfully done a major
acquisition a year ago for $1.5bn, and we have
generated over $600m a year in cash flows from
that operation and we have paid down over
$400m of debts, thus reducing by close to 50
percent, the acquisition cost of that investment
in one year.
“We look forward to being able to pay off a five
year facility in two and half years. That’s our
focus as a company, to buy the right assets,
develop the right asset, produce the right assets
and pay whatever finacnicil leverage we take in
the acquisition and be focused on things that are
cash generating.
“The oil price is volatile, the interest rates are
high, the exchange rate is devaluing and
companies like us are taking the appropriate
steps to protect the future.”
He said Oando would come back to profitability
after one more quarter of loss.
Oando had a record loss of N183.9bn in the
2014 fiscal year , with N35bn loss in the first half
of 2015.

Godisfaithful:



Really? Or you just assume? Well, if you know myjoy08 very well, you will surely understand his lifestyle. Anyway, talk is cheap and free, but freedom is not free. Say what you are sure or certain about!

all i know is the two are one (na you).

Mpeace:
Monkey for sale.Gospel according to WT says pls endure one more quarter of loss. https://www.thecable.ng/tinubu-explains-oandos-loss-blames-oil-prices-naira-weakness. Wale Tinubu, group chief executive of Oando
Plc, has blamed the company’s record loss on
falling crude oil prices and the weakness on the
naira.
Tinubu said his company was brave enough to
let out its financials with the needed integrity, a
virtue he believes will help the company recover
after one more quarter of loss.
Speaking in an interview with CNBC Africa,
Tinubu said what his company did was to ensure
financial integrity, while preparing for the future.
“We see it as a means of ensuring that the
integrity in our finance is kept at ultimate
priority, we seek towards creating a platform to
deal with the challenging future, which we see
would occur in the next couple of months as a
result of weak oil price and dwindling exchange
rate and an increase in interest rate,” he said.
He added that the impairment experienced by
the company does not in any way affect the
company’s recent acquisition, Conoco Phillips,
which was bought for $1.5bn, one of largest
acquisitions in the history of Nigeria’s oil and gas
sector.
“The impairments do not affect in anyway our
acquisition of the Conoco Phillips portfolio,
impairment relate primarily to legacy asset,” he
said.
He said with the oil price recently gaining
stability, Oando is seeing renewed interest from
investors, adding that his firm recently signed a
contract with Chevron to deploy one of its rigs at
$80,000 a day, to go onshore next week.
Speaking to the thoughts of investors at such a
critical time, Tinubu said the company’s focus
remains on exploring the right assets with
dwindling oil prices in mind.
“The positive story going forward is that we as a
country that has integrity in its financial, has
been brave enough to do what is right…when the
future of the oil price is uncertain, such that
everything that it keeps on its books is
generating at a cash policy of profitable nature.
“We have also done a successfully done a major
acquisition a year ago for $1.5bn, and we have
generated over $600m a year in cash flows from
that operation and we have paid down over
$400m of debts, thus reducing by close to 50
percent, the acquisition cost of that investment
in one year.
“We look forward to being able to pay off a five
year facility in two and half years. That’s our
focus as a company, to buy the right assets,
develop the right asset, produce the right assets
and pay whatever finacnicil leverage we take in
the acquisition and be focused on things that are
cash generating.
“The oil price is volatile, the interest rates are
high, the exchange rate is devaluing and
companies like us are taking the appropriate
steps to protect the future.”
He said Oando would come back to profitability
after one more quarter of loss.
Oando had a record loss of N183.9bn in the
2014 fiscal year , with N35bn loss in the first half
of 2015.

Encouraging words- but hard to believe since its coming from a master monkey seller. He sold us the same stories 10yrs ago, see where we are today.

Wale shouldn't be a CEO, he's a politician by nature. He should resign and follow in his uncle footstep.

I have great respect for myjoy but his obessive optimistic posture in every stocks even when there are overt red lights make one wonder his realistic stake in nigeria stock market. I will never blame him on the huge losses incured by those who heed to his unwavering buying buy recommendation because we buy at our own discretion.

Myjoy has dinted his image permanently in this faceless forum no matter whst name he will decide to come up with. I wonder what he stands to benefit by divulging information that is totally false. I chose to remain quiet on the issue I know nothing about.

angrybull:
I have great respect for myjoy but his obessive optimistic posture in every stocks even when there are overt red lights make one wonder his realistic stake in nigeria stock market. I will never blame him on the huge losses incured by those who heed to his unwavering buying buy recommendation because we buy at our own discretion.

Myjoy has dinted his image permanently in this faceless forum no matter whst name he will decide to come up with. I wonder what he stands to benefit by divulging information that is totally false. I chose to remain quiet on the issue I know nothing about.

Sir, you are right. In all, Myjoy084 is sorry for every misrepresentation and miscommunication of information. Don't be angry sir. Remember we want angrybull not angryfight lol

@MyJoy08 Is good to console people but when a smarter idea is given by someone else just try not to act as the devil.............You ain't selling anything here right?.................

Godisfaithful:


Sir, you are right. In all, Myjoy is sorry for every misrepresentation and miscommunication of information. Don't be angry sir. Remember we want angrybull not angryfight lol

Never , we can not fight angrily because we are both gentle men. But we must tread with ultimate caution because newbies are looking up to us. Peace

[quote author=Godisfaithful post=39422558]

My oga u spoke well .man is not infallible,lets move on i will rather b angry with naija n its volatile economy!!!

Please could someone assist me with the complaint web site and also the abuja address of SEC. Its really urgent. Someone needs it to lodge a complaint involving a stockbroker/client-money fraud.

manie:
I gave instruction for the purchase of FBN when it gets to N5.00. If FBN touches N4.00, I may consider selling one of my cars, sell a plot of land and even get a loan to buy more.

And it shall come to pass.

OBAGADAFFI:


Just dey watch the drama.

Oando effect is affecting most stocks on the NSE.

Sell sell sell everywhere .

NSE is now like OLX


Sell it!

megainvest:
See bear unleashed!
This is awesome. I am making mega money next year !!!

I do hear, we will make money this year

PETERiCHY:
Better sell all your oil and banking stocks and move the proceeds to some cumsumer good and agricultural stocks a stitch in time saves nine.e.i FLOURMILL

*ThE OcToPuS*

So all of una wan JI Flourmill


I want the price to come down small. To increase ma holding.

Agbalowomeri:


Yes of course, he ran away after duping his congregation. Go and sin no more

#NaJokeO

Oga Ooooo


He duped no one, they entered one chance.

Transcorp to hit a new 52week low tomorrow, could there be an end in sight to the continuous decline Seems a major shareholder isn't done exiting his position?

Mpeace:
Please could someone assist me with the complaint web site and also the abuja address of SEC. Its really urgent. Someone needs it to lodge a complaint involving a stockbroker/client-money fraud.

http://www.nse.com.ng/regulation/market-surveillance/x-whistle-(whistleblowing)

Mpeace:
Monkey for sale.Gospel according to WT says pls endure one more quarter of loss. https://www.thecable.ng/tinubu-explains-oandos-loss-blames-oil-prices-naira-weakness. Wale Tinubu, group chief executive of Oando
Plc, has blamed the company’s record loss on
falling crude oil prices and the weakness on the
naira.
Tinubu said his company was brave enough to
let out its financials with the needed integrity, a
virtue he believes will help the company recover
after one more quarter of loss.
Speaking in an interview with CNBC Africa,
Tinubu said what his company did was to ensure
financial integrity, while preparing for the future.
“We see it as a means of ensuring that the
integrity in our finance is kept at ultimate
priority, we seek towards creating a platform to
deal with the challenging future, which we see
would occur in the next couple of months as a
result of weak oil price and dwindling exchange
rate and an increase in interest rate,” he said.
He added that the impairment experienced by
the company does not in any way affect the
company’s recent acquisition, Conoco Phillips,
which was bought for $1.5bn, one of largest
acquisitions in the history of Nigeria’s oil and gas
sector.
“The impairments do not affect in anyway our
acquisition of the Conoco Phillips portfolio,
impairment relate primarily to legacy asset,” he
said.
He said with the oil price recently gaining
stability, Oando is seeing renewed interest from
investors, adding that his firm recently signed a
contract with Chevron to deploy one of its rigs at
$80,000 a day, to go onshore next week.
Speaking to the thoughts of investors at such a
critical time, Tinubu said the company’s focus
remains on exploring the right assets with
dwindling oil prices in mind.
“The positive story going forward is that we as a
country that has integrity in its financial, has
been brave enough to do what is right…when the
future of the oil price is uncertain, such that
everything that it keeps on its books is
generating at a cash policy of profitable nature.
“We have also done a successfully done a major
acquisition a year ago for $1.5bn, and we have
generated over $600m a year in cash flows from
that operation and we have paid down over
$400m of debts, thus reducing by close to 50
percent, the acquisition cost of that investment
in one year.
“We look forward to being able to pay off a five
year facility in two and half years. That’s our
focus as a company, to buy the right assets,
develop the right asset, produce the right assets
and pay whatever finacnicil leverage we take in
the acquisition and be focused on things that are
cash generating.
“The oil price is volatile, the interest rates are
high, the exchange rate is devaluing and
companies like us are taking the appropriate
steps to protect the future.”
He said Oando would come back to profitability
after one more quarter of loss.
Oando had a record loss of N183.9bn in the
2014 fiscal year , with N35bn loss in the first half
of 2015.

This just confirmed my july 2016 re-entrance assertion. that's if they are still on ground.

Imagine Mr. Audacious this time around openly telling his shareholders to prepare their mind and be ready for another WORLD RECORD BREAKING 2015 F/Y LOSS result while we are still in October.

Youngzedd:


I do hear, we will make money this year

this is the time .

Youngzedd:


And it shall come to pass.

Amen

OBAGADAFFI:



http://www.nse.com.ng/regulation/market-surveillance/x-whistle-(whistleblowing)

Thanks ,but I need that of SEC. The transaction involve fixed income investment and not shares.

Some food for thought

This is the performance of First Bank from 2000 to date.

100k will buy 20,000 units of FBN shares in 2000.


Year Bonus Units
2000 20,000
2001 1 for 4 25,000
2002 1 for 5 30,000
2003 1 for 6 35,000
2004 1 for 8 39,375
2005 1 for 4 49,218
2006 1 for 25 51,186 ( Special distribution)
2006 1 for 1 102,372
2007 1 for 6 119,433
2008 1 for 4 149,291
2009 1 for 6 174,171
2010 1 for 8 195,000 units


Valued at over N3.8 million Naira

This post was made by our pa ewunmi over 2 years ago, when FBNH was 17 naira. At 5.47 naira, this same quantity is now worth just over 1.2 million naira (excluding dividends). All of a sudden is the investment made in year 2000 worth it??

Lesson: Buy and Hold may not always be the best

Culled.

Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon.

Brent crude tumbled below $50 on Monday for the first time since January. Gasoline fell the most in almost three years.

The slump may have further to go. U.S. refineries, which turned a record amount of crude into gasoline during July,
typically slow down from August through October for maintenance.

“We still have a lot of global oversupply,” Michael Wittner, head of oil-market research at Société Générale in New York, said on Bloomberg TV Monday.

“We’ are getting close to the autumn, [when] demand for crude and products hits a seasonal low point, so it’s hard to see where the uplift is going to come from.”

Also, demand for gasoline typically eases after summer as the seasonal workforce shrinks and families stop vacationing.

Hedge funds are growing more pessimistic. Money managers cut bets on rising Brent prices last week by the most in more than a year and are the least bullish on U.S. crude since 2010.

http://bloom.bg/1g1lybB

The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) and other central banks in Africa to allow their currencies to depreciate in order to absorb shocks to their economies.


The multilateral donor agency pointed out that resisting currency pressure depletes foreign exchange reserves and results in weaker imports.

According to the IMF, in a few highly dollarised economies on the continent, the recent exchange rate depreciation could also increase financial sector vulnerabilities.


It also noted that the recent depreciation of some currencies on the continent would increase the value in local currency of dollar-denominated liabilities, and hence the debt service burden for unhedged borrowers.


This would potentially expose banks to losses—even though banks themselves generally have only limited currency, it stated further.

[http://www.thisdaylive.com/articles/again-imf-urges-cbn-others-to-weaken-currencies-to-absorb-shocks/223957/]

Mpeace:
Please could someone assist me with the complaint web site and also the abuja address of SEC. Its really urgent. Someone needs it to lodge a complaint involving a stockbroker/client-money fraud.

Kindly write : sec@sec.gov.ng

Copy:

Njoku Agnes= anjoku@sec.gov.ng
Eguridu Cynthia = ceguridu@sec.gov.ng
Onyeabo Philip = ponyeabo@sec.gov.ng

Remain blessed.

angrybull:
Kindly write : sec@sec.gov.ng
Copy:
Njoku Agnes= anjoku@sec.gov.ng Eguridu Cynthia = ceguridu@sec.gov.ng Onyeabo Philip = ponyeabo@sec.gov.ng
Remain blessed.

Thnks alot.

http://www.nse.com.ng/Financial_NewsDocs/FinancialStatementFull_C%20I%20LEASING%20PLC._2015-10-27.pdf

[http://nationalmirroronline.net/new/world-bank-raises-alarm-over-nigerias-economy/]

ranks nation 169th globally

Mauritius, Uganda, Benin, Senegal among best

Despite sustained efforts by the federal government to improve Nigeria’s business environment, indications showed that most of the efforts had not impacted positively on the nation’s business climate with its ranking at the 169th position among the 189 countries assessed on economic reforms implementation.

PETERiCHY:
Some food for thought
This is the performance of First Bank from 2000 to date.
100k will buy 20,000 units of FBN shares in 2000.
Year Bonus Units
2000 20,000
2001 1 for 4 25,000
2002 1 for 5 30,000
2003 1 for 6 35,000
2004 1 for 8 39,375
2005 1 for 4 49,218
2006 1 for 25 51,186 ( Special distribution)
2006 1 for 1 102,372
2007 1 for 6 119,433
2008 1 for 4 149,291
2009 1 for 6 174,171
2010 1 for 8 195,000 units
Valued at over N3.8 million Naira
This post was made by our pa ewunmi over 2 years ago, when FBNH was 17 naira. At 5.47 naira, this same quantity is now worth just over 1.2 million naira (excluding dividends). All of a sudden is the investment made in year 2000 worth it??
Lesson: Buy and Hold may not always be the best
Culled.

Man,

Where are the dividends? What about if dividend are re invested ? What happens when the price go back to N20 ( it is possible) nobody will advice you to sell FBN at N5.47 as at now except you need fund for exigencies.

Happy investing

manie:
I know and am not new to the game.

Boss, you confused me by alluding to @NextProdigy claim that FBNH is overvalued at N4.00.

OANDO now @ N7:35k with no bid.

When i keep saying that STOCK MARKET is one the most organized gambling platform some keep arguing now we can all see for ourselves.

May GOD give those in that bus the fortitude to bear the loss.