ihedioramma:
With your reply i now understand .

better...was in awe b4 ooo!

Tritri:
FBNH i bought at 3:60 few month back.Now it at 2:99...Am Finished.just wondering if i took the wrong decision . I've started been harsh to my wife for nothing sake...my wife been asking me honey what the problem , and i dont knw what to say, Though i bought it for long term and it involves millions .

@Anyone in same position ? How do we console ourselves ?

What do you expect me to do? I bought fbnh @ 6.74. May be, in my case i should kill anyone that is around me. Guy! just relax your mind. Business is a game of gain or loose. And the most important thing here is "patience".

OBAGADAFFI:


If you decide to sell tomorrow, you will be selling @ loss

If you decide to average down at @circa N2:00k. you will have to wait till it gets to N2:00k.(if FBN BANKRUPTCY has not kicked in ).

If average down at @circa N2:00k, you will need to break even before selling.

All indicators are showing me you are trapped.

*ThE OcToPuS*

Well lets wait till dec/jan rally period which is my exit point to know if I'm trapped or not

Bureau de Change (BDC) operators in Abuja have blamed the steady fall of the naira on deliberate hoarding of foreign currencies which forces them to buy from government officials and top politicians across the country.

Some BDC operators at Wuse Zone 4, a popular spot for foreign currency exchange, lamented that the pervasive scarcity of the dollars and other core global currencies is due to activities of highly placed government officials, top politicians and Central Bank of Nigeria’s (CBN) staff, who have found the falling naira as a way to line up their pockets at the expense of the nation.

On allegation made by a former CBN governor and current Emir of Kano, Sanusi Lamido Sanusi, that people sit at home and make calls to buy dollars from the CBN and resell, BDC operators corroborated it, saying, “It is true.”

Refusing to identify his name, a BDC operator said, “Dollar is scare, we don’t have it like in the past. For us to have it, we must identify who to approach to buy from CBN for us,” he said.

“Mostly, top government officials use their influence to buy from the CBN in the name of going abroad for official assignment,” he further alleged.

Asked if he knew anyone or had bought from them, he said, “My ‘oga’ (boss) does not sleep,” adding that “he follows them around, sometimes he goes to their houses in Asokoro, Maitama to beg them to buy dollars. He traveled to Kano last time to approach somebody for it,” he pointed out.

According to information provided by the BDC operators, ministers, key personnel at the presidency, top politicians not in government but with strong links as well as traditional rulers mostly from the northern part of the country use their influence to buy dollars from the CBN even at the old rate of N170/$.

This must have informed the allegation of Sanusi, who, according to sources, must have spoken from vintage position.

“My boss told me he buys dollars sometimes at N300 and N380 depending on individual sellers,” another BDC operator noted.

The CBN while trying to prop up the naira few months ago opened dual windows and harped that the naira was floated to subject it to market forces.

Unfortunately, the national currency has continued to receive intense battering and fell to N406/$ few days ago at the black (parallel) market.

Recent reports said the naira has shed almost 40% against the dollar in almost a year, making it the worst performing currency globally.

And if that was not enough, Sanusi ran scathing attacks on the Federal Government handling of the economy in general and the CBN currency operation in particular.

“You don’t have to be an economist to know that any system that allows you to sit in your garden, and with a telephone call, make one billion naira without investing a kobo, that system is wrong. It is unsustainable”, Sanusi said of highly placed politicians and top individuals who use their influence to buy forex from the CBN and sell to make undeserved profit.

“And just so we are not always blaming the previous administration. We have also made mistakes in this administration,” he added.

“And if we fall into the same holes that we fell into the last time where the government is always right… If a policy is wrong, it is wrong. Nothing will make it right and it has to be changed,” the former CBN governor asserted.

Investigations based on findings from the BDC operators have shown that CBN top executives know about the whole dirty deals.

According to information, they are helpless as they cannot stop immense pressure put on them.

“Often, calls come from various sources that are highly placed. The major culprits in requesting for forex which they possibly resell are the ministers and highly placed presidency staff, who the CBN executives cannot ignore,” a BDC operator told Independent, lamenting that he was tired of begging these “people for forex.”

Few months ago, before the CBN floated the naira, there were allegations against a key aide to President Muhammadu Buhari, who had unimpeded access to forex as the nation groaned under forex scarcity.

The CBN had defended its position, saying it did not sell dollars to individuals but the aide while defending his dollar purchases said he did not breach any law as he did not buy above the threshold set by the CBN.

There has also been allegation of the CBN leaving its constitutional role of being the bankers’ bank to the buying and selling of currencies.

According to the BDC operator, who spoke with Independent, “the CBN flexible forex regime has not worked in our favour or the country but has become the conduit pipe as Emir Sanusi has said to influential people’s advantage.

“Banks don’t have adequate forex and so the demand placed on us is high. But for you to get it, you must be prayerful that one government’s official or politician remembers you and comes calling to sell what he has gotten for cheap from the CBN,” he said.

https://www.nairaland.com/3316721/buy-dollars-government-officials-bdcs

Like i said earlier the era of FUEL subsidy is gone, We are now in FOREX subsidy era, So don't be left out.

*ThE OcToPuS*

PETERiCHY:


Well lets wait till dec/jan rally period which is my exit point to know if I'm trapped or not

The question is..........by that time you mentioned will you be selling at profit or loss based on the #3.30 you bought?secondly do you know the extent fbn will fall at this time?if it falls to #1.00 now and rally to #2.00 by then,dont you see you will not be a profit taker?
i think the best for you and i including others who bought at high prices is to look for a way of diluting our shares with the lowest price fbn can go at this time............hehehe...........fbn to become a JIJO stock and it will be sweet this time.

locodemy:


The question is..........by that time you mentioned will you be selling at profit or loss based on the #3.30 you bought?secondly do you know the extent fbn will fall at this time?if it falls to #1.00 now and rally to #2.00 by then,dont you see you will not be a profit taker?
i think the best for you and i including others who bought at high prices is to look for a way of diluting our shares with the lowest price fbn can go at this time............hehehe...........fbn to become a JIJO stock and it will be sweet this time.

The bottomline is if you ain't ready to lose all your fund then you don't have any business being in the stock market. QED.

*ThE OcToPuS*

Positive news cooking for the Nigerian oil market. This may be time to start accumulating stocks that have been battered due to exposure to oil... Pls do your DD.

who knows the outcome of the banks and CBN meeting?

FBN bounces back above N3 very early . .

megainvest:
Positive news cooking for the Nigerian oil market. This may be time to start accumulating stocks that have been battered due to exposure to oil... Pls do your DD.

post news news here dear

veecovee:
who knows the outcome of the banks and CBN meeting?

Nothing yet !

My Zeee dividend just dropped in.

So much good news today that suppose to propel the bull.I read about the 14Billion USD investment approved for Nigeria for various investments in different sectors.Who is holding down the bull this long?

angelo82:
So much good news today that suppose to propel the bull.I read about the 14Billion USD investment approved for Nigeria for various investments in different sectors.Who is holding down the bull this long?

Emefiele

umm

Fidelity
SP 0.96

Bid 500k
Offer 14.9m

fx ban is still in d driving seat

So because of Emefeile we couldn't enjoy the dividend rally?,May he not enjoy that office.

Raider76:
My Zeee dividend just dropped in.

I never see my own. First Bank wetin dey now

angelo82:
So because of Emefeile we couldn't enjoy the dividend rally?,May he not enjoy that office.

i will not say Amen to that prayer because i never purchased mine.........you should enjoy your dividend while we wait for price fall to enjoy our own capital appreciation.

megainvest:
Positive news cooking for the Nigerian oil market. This may be time to start accumulating stocks that have been battered due to exposure to oil... Pls do your DD.

shiiiiii.........pls wait naw.........na because you don gather your's and now to do monkey hunting.......we don hear the news..........it's not only oil.Agriculture and medicals follow kwa.......hold on bro so that all of us go blow the trumpet.

fxuser:

FBN bounces back above N3 very early . .

This one na damage control bounce back......i still dey wait for my forcast junction which is #2.80

angelo82:
So because of Emefeile we couldn't enjoy the dividend rally?,May he not enjoy that office.

market has zero confidence in him ! says dis today , says that tomorrow .
all his decisions are based on d weather & bhari's body language

fxuser:
umm

Fidelity
SP 0.96

Bid 500k
Offer 14.9m

fx ban is still in d driving seat

Fidelity
SP 0.93
Bid nil
Offer 19.3m (pere)

#MopTheFear

fxuser:


market has zero confidence in him ! says dis today , says that tomorrow .
all his decisions are based on d weather & bhari's body language

Thats what happen when ethnicity is considered for appointment but Buhari has no brain if not he suppose to remove the guy.

fxuser:



Fidelity
SP 0.93
Bid nil
Offer 19.3m (pere)

#MopTheFear

brother fxuser.........na good news be that naw.......i hope cutlass dey your hand..........for me i no dey play small pikin game......my eyes no dey there....

locodemy:


brother fxuser.........na good news be that naw.......i hope cutlass dey your hand..........for me i no dey play small pikin game......my eyes no dey there....

um
liquidity lo sho jo ro

been attracted to FCMB, just had to join d bid train
make emefiele do anyhow , his end is near

UBA
4.35
bid 2.9m
offer 10.9m

after declaring dividend & cbn lift from fx ban !
Na Wa

umm

fxuser:

UBA
4.35
bid 2.9m
offer 10.9m

after declaring dividend & cbn lift from fx ban !
Na Wa

umm

The amount is too much and most people are worried about how it would affect their balance sheet but 3rd quarter result will douse or intensify that tension.

fxuser:

UBA
4.35
bid 2.9m
offer 10.9m

after declaring dividend & cbn lift from fx ban !
Na Wa

umm

just chill down.....next week is a week of bounce back..........for this week..........na to cherry picks especially those new 52 weeks low stocks..........anyone wey get ear let him hear.

See wahala!

http://www.nse.com.ng/Financial_NewsDocs/14817_GSK_-_EXTENSION_OF_CLOSURE_DATE_CORPORATE_ACTIONS_AUGUST_2016.pdf

angelo82:
See wahala!

http://www.nse.com.ng/Financial_NewsDocs/14817_GSK_-_EXTENSION_OF_CLOSURE_DATE_CORPORATE_ACTIONS_AUGUST_2016.pdf

Tell am to comot for road and park wella.

FCMB and DIAMOND Bank @1.04.......i think Diamond trades faster than Fcmb........i am also attracted to diamond bank at the current price..........dont know the outcome of the meeting towards offence committed.