After years of sanctions, the country is boosting production and aiming to win customers back from the Saudis and Russians.

The fate of the oil market in 2016 depends in large part on a series of oil fields with names such as Ahwaz, Gachsaran, Bibi Hakimeh, and Darkhovin. All of them are pumping crude buried thousands of feet under the hills of the Zagros mountain range in western Iran. Since mid-2012

The country’s return to the oil market comes as the world is producing much more oil than it needs. According to the International Energy Agency (IEA), global oil production in the first half of 2015 averaged 95.7 million barrels a day, while average daily consumption came in at only 93.8 million barrels. The difference of almost 2 million barrels a day.

Bloomberg - Iranian Oil Goes Back on the Market http://bloom.bg/1l99J5S

angrybull:



@ukay2
Pls kindly refer to page 903 of this forum as it will give you the desired information to make an informed decision regarding your stockbroker.

Thanks my oga angry bull...

I won't buy anymore share until I port to Morgan capital...

What is the total duration to open account with them assuming I have all the documents ready....?

Hope they usage quick services?

What is Morgan capital major and common problem/challenge?

Hope my portfolios with investment one stockbroker will be transfer to Morgan capital stockbroker after opening the account?

Please I need prompt answer....

Thank you.

I jumped into the MKT on Thursday and Friday.
Am 85% loaded now.

Am trying to observe a trend in NSE. When there is bad news and a coy loses maximally on consecutive days, there seems to be a no of days b4 the coy bounces back, enjoys a bull b4 continuing a downward journey. In 2013, it used to be 3days or between 25 to 30%.

Also, Profit takers usually trigger their take profit at 30% then.

Plz any bnsitk with full access to data should check and confirm if it's a trend.

Morgan capital stock broker charges low fees truly. Its major challenge is that it is somehow slow in its services/executions. It usually takes it about 4 days to open an account for you, after when you might have sent the required documents.

veecovee:
peterrichy really pushed me to take that decission when he said, it's opportunity for those traped in oando to offload. Now I m loosing hundreds of thousand


please close your mouth a bit PETER

Ha! Opportunity to sell at huge loss? It isn't done that way. No matter how a stock paints itself as opportunity, it is still not an opportunity to sell at loss, due to the uncertainty of the market. The only case that 'could' be opportunity is when a fundamentally strong stock has a very low price. One should even get more units of such stock at cheap price, Not to sell. And if it continually goes down, selling is not ideal. One has to be patient to get more units at extraordinarily cheap price, with the fund one can do without till the long run (to be on the safest side). With this, there will be peace, and not panic or loss.

AkinadeDare:
Ha! Opportunity to sell at huge loss? It isn't done that way. No matter how a stock paints itself as opportunity, it is still not an opportunity to sell at loss, due to the uncertainty of the market. The only case that 'could' be opportunity is when a fundamentally strong stock has a very low price. One should even get more units of such stock at cheap price, Not to sell. And if it continually goes down, selling is not ideal. One has to be patient to get more units at extraordinarily cheap price, with the fund one can do without till the long run (to be on the safest side). With this, there will be peace, and not panic or loss.

Peter did not mean opportunity to sell at a loss.
He meant opportunity to bail out of a crashing jet b4 it hits ground.
He believed, perharps even now, that oando, despite the rebound we're seeing, is still headed for the car park or near it.

its important people remember this is a forum to share ideas and not to follow ideas. some dudes on this forum are blind men , we all know what happens if you are allow yourself to be led by one. Take ownership of your portfolio and don't blame anyone if anything goes wrong.

Does anyone want to discuss or analise the direction of UBA?

Skye bank to pay 4b naira fine

Less than two weeks after it sanctioned two major banks for flouting Federal Government directives on Treasury Single Account, the Central Bank of Nigeria (CBN) has  imposed a fine of N4 billion on Skye Bank for concealing funds belonging to Ministries, Departments and Agencies (MDAs).

http://www.thisdaylive.com/articles/tsa-cbn-fines-skye-bank-n4bn-for-concealing-mdas-funds/225038/

angrybull:
Skye bank to pay 4b naira fine

Less than two weeks after it sanctioned two major banks for flouting Federal Government directives on Treasury Single Account, the Central Bank of Nigeria (CBN) has  imposed a fine of N4 billion on Skye Bank for concealing funds belonging to Ministries, Departments and Agencies (MDAs).

http://www.thisdaylive.com/articles/tsa-cbn-fines-skye-bank-n4bn-for-concealing-mdas-funds/225038/

Please my oga Angry bull,

Kindly reply some of my questions I put up (above) concerning Morgan stockbroker

angrybull:
Skye bank to pay 4b naira fine

Less than two weeks after it sanctioned two major banks for flouting Federal Government directives on Treasury Single Account, the Central Bank of Nigeria (CBN) has  imposed a fine of N4 billion on Skye Bank for concealing funds belonging to Ministries, Departments and Agencies (MDAs).

http://www.thisdaylive.com/articles/tsa-cbn-fines-skye-bank-n4bn-for-concealing-mdas-funds/225038/

I think the CBN should look for better and more effective ways to go about these sanctions. Why not sanction the board/ or directors or the persons directly responsible for these breaches rather than sanction a publicly quoted company whose ordinary shares holders become the ultimate losers. As it stands, the big ogas who took this decision will collect all their emoluments, the fine will be paid by the investing public, and the ordinary shares held by them will be battered.

AmeLonRo:
Does anyone want to discuss or analise the direction of UBA?

please shoot

angrybull:
Skye bank to pay 4b naira fine

Less than two weeks after it sanctioned two major banks for flouting Federal Government directives on Treasury Single Account, the Central Bank of Nigeria (CBN) has  imposed a fine of N4 billion on Skye Bank for concealing funds belonging to Ministries, Departments and Agencies (MDAs).

http://www.thisdaylive.com/articles/tsa-cbn-fines-skye-bank-n4bn-for-concealing-mdas-funds/225038/

I am exposed to this stock. Chei. Not again.

I don't think Cbn is doing the right thing.There are trying to avoid doing the dirty job of sanctioning the board and ceo for doing what is wrong and punishing the common share holder. though the shareholders can punish these people by voting them out but this is still a developing nation and may not be easily done.however cbn can do it better if they actually want to be seen as working.This is one area we are missing Sanusi. If it were Sanusi they wouldn't do so because they know what he can do

http://www.nse.com.ng/mediacenter/pressreleases/Pages/Value-Added-Tax-Exemption.aspx

Has this been implemented?

Manonamission:


I am exposed to this stock. Chei. Not again.

Please check whether Mr c just bought skyebank.

sophy17:


I think the CBN should look for better and more effective ways to go about these sanctions. Why not sanction the board/ or directors or the persons directly responsible for these breaches rather than sanction a publicly quoted company whose ordinary shares holders become the ultimate losers. As it stands, the big ogas who took this decision will collect all their emoluments, the fine will be paid by the investing public, and the ordinary shares held by them will be battered.

and they are quick to pay

Manonamission:


I am exposed to this stock. Chei. Not again.

This is definitely not the best way to go. CBN gives fine and grows their revenue while ordinary people suffer. As sophy17 rightly says, it is the ordinary shareholders that will bear the brunt. investors will suffer losses because the money been talking about is very massive. CBN should sanction board of directors rather than giving arbitrary fine just like that. This is not so good.

ukay2:



Thanks my oga angry bull...

I won't buy anymore share until I port to Morgan capital...

What is the total duration to open account with them assuming I have all the documents ready....?

Hope they usage quick services?

What is Morgan capital major and common problem/challenge?

Hope my portfolios with investment one stockbroker will be transfer to Morgan capital stockbroker after opening the account?

Please I need prompt answer....

Thank you.

AkinadeDare:
Morgan capital stock broker charges low fees truly. Its major challenge is that it is somehow slow in its services/executions. It usually takes it about 4 days to open an account for you, after when you might have sent the required documents.

ukay2:



Please my oga Angry bull,

Kindly reply some of my questions I put up (above) concerning Morgan stockbroker

I think he gave you valid answers to the question but it is good you will also know that every stockbroker has its own difficulties and challenges. personally, I think Morgan services is very good in comparison to their moderate commission.

I will not advise you to initiate share transfer from your other stockbroker to new one in case you want to do it. The host stock broker will frustrate all your efforts in attempt to transfer your shares. It is better you sell your shares in your host stockbroker account and use the proceed to purchase shares with new stockbroker after you must have opened your account. In this way, you have peace and reduce stress.

IF the value of the shares has reduced nko? should he sell at a loss. Pls if you are not satisfied by their service port immediately, I have done that before and ready to do it again if any stock broker messes up. Know your right go and quote it to them and threaten to write to SEC if there is any smesme. Make sure you shine your eyeballs so that they will see your red eyes. However make sure you are not owning them in any form. Take charge.

sophy17:


I think the CBN should look for better and more effective ways to go about these sanctions. Why not sanction the board/ or directors or the persons directly responsible for these breaches rather than sanction a publicly quoted company whose ordinary shares holders become the ultimate losers. As it stands, the big ogas who took this decision will collect all their emoluments, the fine will be paid by the investing public, and the ordinary shares held by them will be battered.

The share holders should sanction the management responsible. Theoretically it is the shareholders who own the company and hired management to run it for them. You of course have many situations where the major shareholders are the ones managing the companies. So with the judicial system that allows high level criminals to always walk away free, financial sanctions are the best way to hit the offenders. These kinds of fines are common internationally recognised practice. They do not preclude criminal charges on the offenders. Somebody who willingly hid N40b of FGN money should clearly answer to the EFCC.

angrybull:








I think he gave you valid answers to the question but it is good you will also know that every stockbroker has its own difficulties and challenges. personally, I think Morgan services is very good in comparison to their moderate commission.

I will not advise you to initiate share transfer from your other stockbroker to new one in case you want to do it. The host stock broker will frustrate all your efforts in attempt to transfer your shares. It is better you sell your shares in your host stockbroker account and use the proceed to purchase shares with new stockbroker after you must have opened your account. In this way, you have peace and reduce stress.

Thanks for your brotherly advise. I really apprrciate..

But won't SEC/NSE sanction the stockbroker for not allowing me to do share transfer to my to be new stockbroker?

I think after selling my shares, I will ask them to redeem the proceeds to my bank account from there, I will buy another share from the new stock broker I will soon Chang to.

mercylicious:


Please check whether Mr c just bought skyebank.

Only Mr P can tell

ukay2:



Thanks for your brotherly advise. I really apprrciate..

But won't SEC/NSE sanction the stockbroker for not allowing me to do share transfer to my to be new stockbroker?

I think after selling my shares, I will ask them to redeem the proceeds to my bank account from there, I will buy another share from the new stock broker I will soon Chang to.

They will be sanctioned severely if you can be able to follow the case up to sec. Definitely the host stock broker will not allow the stream less transfer of your shares. I have the 1st hand experience, I followed the case to sec but couldn't do some necessary things required from me because I am geographically indisposed to all the rigmarole required. But if you are disposed and have adequate time you can carry on with your share transfer.

Raider76:


The share holders should sanction the management responsible. Theoretically it is the shareholders who own the company and hired management to run it for them. You of course have many situations where the major shareholders are the ones managing the companies. So with the judicial system that allows high level criminals to always walk away free, financial sanctions are the best way to hit the offenders. These kinds of fines are common internationally recognised practice. They do not preclude criminal charges on the offenders. Somebody who willingly hid N40b of FGN money should clearly answer to the EFCC.

From MTN, FBNH, UBA and now Skye bank. Who is next? If you check the circumstances that led to these fines, you will find that the management of the institutions concerned were mighty stupid. They probably felt it was all talk talk like before. How would you explain MTN's disregard for the simple instruction to deactivate unregistered lines with adequate time frame o? They were all parties to the agreement to deactivate inactive lines. Other operators complied or were at advanced stages of compliance but MTN just continued business as usual.
The FGN has been singing this TSA for how long now? What were the management of these banks thinking? I feel like punishing them the same way they punish employees (slash their salary in half, make them work extra hours, suspend some, sack some, yell at them all.......I dey vex o)
CBN should just name them all once and for all........ thought it was just FBNH and UBA. So could there be more?

Happy Sunday my peeps.
Make una chill small, as today is Sunday.

If BBM was there in bible times, some posts would
be like:
1. Guys it's scary. Lot's wife just turned into a
pillar of salt.. # Shaking !
2. Pimping my Camel.. Jerusalem here I come
3. Chilling with Moses by Mount Sinai..Miracles be
going down here.. # OMG!
4. Eve and Hubby got banished.. They ate from the
forbidden fruit.. I mean who does that!? # Smh
5. Just chilling in first class At Noah's Ark.. The
view here is Fantastic.. But 'em Lions keep staring
at me.. # Weird
6. Some people are soo Cruel! Cain, How do you
kill your own bro.. # RIP Abel.. *Tear Drop*
7. Jacobs Status: Things we do for Love, Can't
believe I served her father for 14 years just to get
her.. Got Mad Love for you Rachael
8. Isaac: Damn! Dad nearly sacrificed me.. #
SelfieWithLamb !
9. One of Jesus' Disciples post: What a Long day..
Walking and Preaching the gospel.. Now chilling
with 'em bro's..
Them guys are funny.. # LLP (Laughing Like
Pharaoh)
10. Mary: Joseph is not replying to my messages
on WhatsApp He still thinks I cheated.. Grow Up
Mahn!
11. Samson: This chick just sold me out.. Iam
going to bring the roof down on this party..
# TurnUp !
12. Judas did what!!? That bro aint Loyal! # Smh

I want to believe none of the affected banks will pay a meaningful dividend at year end considering the huge impairments they have booked already. Why would a bank that raised about N11B at the start of the year, paid interim dividend of about N7.3B and now fined N2.9 (+N7.3B = N10.2B) still go ahead to pay a substantial final dividend? Doesn't make much sense when you realize that the capital raised at the beginning of the year to comply with regulatory standards (eg CAR) set by the CBN has been "exhausted" in a "not too convincing" manner. Effect or value of capital raising is neutralized from payments in one year. We still have provisions for doubtful loans bearing in mind that 2015 has been a difficult year for most businesses/sectors.

In the case of Skye, the fine is c.15% of the market capitalization of Skye as at 06/11/2015.

Chai.....I weak mehn!

I hope you know there are different types of dividends...............I remember UBA paid 5k for FY 2014 and they may reciprocate same at year end..........They will find a way to play the game.............But traders should be vigilant and trade with caution.............So much uncertainty lies ahead.............Battering time for skye or not?.............Good thing is the stock is not correlating with other banking stocks.............

angrybull:


They will be sanctioned severely if you can be able to follow the case up to sec. Definitely the host stock broker will not allow the stream less transfer of your shares. I have the 1st hand experience, I followed the case to sec but couldn't do some necessary things required from me because I am geographically indisposed to all the rigmarole required. But if you are disposed and have adequate time you can carry on with your share transfer.

I am not saying you must proceed to transfer your shares immediately.However does anyone enter into a war without counting it cost. In my own case the shares I bought has reduced in value and I did not see why I should sell at a loss and yet the nonsense people that made me want to change my brokerage firm will benefit at my expense.I vowed that i will never allow that to happen and most go all the way to make sure I change no matter what it will cost me.I will tell you the truth it really cost me sometime but determination prevailed. if you can not go out for the war Please sell and move your money may be you have not lost value in the stock by the time you sell. But if you have loss value determine and I will assure you ,you will come out victorious.

I advise you to chose you battle wisely.

Please do as angrybull advised.
U must not sell the shares in ur old brokers acnt immediately. U can wait and sell when its OK for u to sell.

You can open a new acnt with a new broker and continue to trade with ur new broker with the new funds. I still HV stocks in my two old brokers acnt. IAA in one and ftncocoa with the other broker.
But the bulk of d money now with Morgan.

mercylicious:
I advise you to chose you battle wisely.

Please do as angrybull advised.
U must not sell the shares in ur old brokers acnt immediately. U can wait and sell when its OK for u to sell.

You can open a new acnt with a new broker and continue to trade with ur new broker with the new funds. I still HV stocks in my two old brokers acnt. IAA in one and ftncocoa with the other broker.
But the bulk of d money now with Morgan.

We should not be afraid of battle when it is totally called for. Until the people that knows what is good start speaking out and also acting evil continuous. We all want our market to develop and be reasonable but we don't want to fight for that. God is not going to fight it for us but will use us to establish such good even if it involve fighting he will help us.One thing I advice is if your confidence is failing you PLEASE take the easy way out.

Treasury Single Account: CBN Fines Skye Bank N4bn