There’s no problem in diversification especially when Naira is already on life support. I deal with fintech and I know many people who deals or age into that business. If CBN think FINTECH is the problem of Nigeria currency, it means there’s another fire on the mountain when it comes to their unstable policy. Time will tell. If you don’t know, 80% of your politicians align with fintech and have their money in $$$$ denominated investment. Just a tip for you.

God bless NSE
GOD bless Nigeria

handsomebolanle:
NSE paltry 10percent daily movement needs to be checked into again.
It should be a free market. Is any of such kind practiced anywhere in the world?

I think that rule of 10% is okay for us.
Aged people will not stand losing 200-500% of portfolio in a day.

Instead the 100k block units rule should be reduced to 50k for prices to rise/fall faster.

Godisfaithful:
There’s no problem in diversification especially when Naira is already on life support. I deal with fintech and I know many people who deals or age into that business. If CBN think FINTECH is the problem of Nigeria currency, it means there’s another fire on the mountain when it comes to their unstable policy. Time will tell. If you don’t know, 80% of your politicians align with fintech and have their money in $$$$ denominated investment. Just a tip for you.

God bless NSE
GOD bless Nigeria

You said 80% of our politicians are aligned with Fintechs in hard currency and you think all is well?You have nailed yourself nawh!

You think CBN don't have eye?

Godisfaithful:
There’s no problem in diversification especially when Naira is already on life support. I deal with fintech and I know many people who deals or age into that business. If CBN think FINTECH is the problem of Nigeria currency, it means there’s another fire on the mountain when it comes to their unstable policy. Time will tell. If you don’t know, 80% of your politicians align with fintech and have their money in $$$$ denominated investment. Just a tip for you.

God bless NSE
GOD bless Nigeria

It then means CBN is right after all.

emmanuelewumi:



Is your name on the shareholders register if yes you have nothing to fear, people with fractional shares are technically not on the shareholders register. Eg someone with 0.002 units of Tesla shares

Please how do I get my certificate or know my name is on the shareholders register. I bought some stocks via the Trove App

MysTeerioz:


Please how do I get my certificate or know my name is on the shareholders register. I bought some stocks via the Trove App

I am sorry you are asking the wrong person, find out from those buying shares through those fintech apps

afroxyz:


All these guys are alligators benefitting from the comatose system so don't expect any coherent argument from them. The Nigerian that buys US stocks ir crypto, is he going to spend the proceeds in the US or convert it back to Naira? When did all these fintechs start that they are the cause of a naira which has been on life support since 2015. Besides these fintechs bring in FDI. Just this first half of the year Nigerian fintechs have raised about $150m. How much has FG attracted in FDI in this year? You allow people go for medical tourism, send their kids abroad to school, go for pilgrimage and run two exchange rates. You are more eager to apply for loan every 4 months than producing anything, and u blame fintech. Yet only 2% of Nigerians have N500k (or more in their accounts).

thank you.

FOREIGN EXCHANGE, BDCs AND CBN GOVERNOR'S POLICY SOMERSAULT

By Dr. Adeola Adeyemi

It is quite pathetic and worrisome the recent foreign currency policy somersault of the Central Bank of Nigeria (CBN) under the leadership of its Governor, Mr. Godwin Emefiele. The policy which is that CBN will stop giving BDCs foreign currency is capable of completely destroying many businesses and households. This anti-economic cum financial policy is coming amidst obvious economic challenges occasioned by poor financial policies of CBN, economic recession and COVID-19 pandemic.

It would be recalled that the country slipped into economic recession few months after Emefiele assumed office as CBN Governor in 2014. Since then till date, Emefiele has shown that he lacks the knowledge and experience to turn around the country's economy and finances for good.

One can say without mincing words that for Emefiele, being the CBN governor is all about making policies about foreign exchange that will be of personal benefit to the banks and his paymasters in foreign exchange related businesses to the detriment of the economy and the rest of Nigerians, especially the middle class and downtrodden.

This is not surprising considering that Mr Emefiele was appointed into CBN from Zenith bank. So, it is a case of him protecting his personal interest and that of his allies in the banking sector without minding the adverse multiplier effect on the citizens and economy at large. Zenith bank which has phobia and hatred for anything Bureau De Change became so strong and comfortable with Emefiele's elevation. Zenith bank as early as the inception of Bureau De Change never agreed to open a corporate account for BDCs. It doesn't also issue instruments in favour of BDCs. This is the prejudice and bias Mr Emefiele took to the CBN. Upon assumption of office as CBN governor he made nonsense of domiciliary account by putting in place policies that took Nigerians backwards.

Domiciliary account holders would travel abroad with their foreign exchange debit cards only to find out that they could only access maximum of $300 in a day. The cost of hotel accommodation, feeding and others is none of Emefiele's concern or worry. A lot of micro, small and medium business enterprises that hitherto put money together and import a forty feet container have been put out of business as a result of deliberate policies of banks supported by CBN to frustrate them and their businesses.

This is in an environment that unemployment is fuelling all sorts of problems and increasing crime rate.

The CBN before now has been hitting the BDCs below the belt. The apex bank would just pick some BDCs at random and sanction them and make them pay #5m each for an offence only known to the CBN. The latest allegation against the BDCs is that they are laundering money. What is the volume of foreign exchange given to the BDCs as a percentage of the whole. It is very insignificant and infinitesimal amount.

Assuming without conceding that some BDCs launder money, is that enough reason for CBN to put the entire people in the sector of the economy out of business without weighing the grave consequences? Is there no way CBN can curb such illicit activity if any exist? A Bureau De Change employs at least four persons. Each person has at least four dependants. It is clear that to the CBN governor, there is nothing wrong in throwing away the baby with the bath water.

It would be recalled that Prof. Charles Soludo was at a time the governor of CBN and the economy thrived. Please can someone advice Mr. Emefiele to search his office filing cabinet for some memos by Prof Solude, especially those that relate to foreign exchange policies . No doubt, Mr Emefiele will learn some lessons.

Today the exchange rate of dollar to naira is #515 as against the #503 few days ago that the BDCs were in operation. So even out of business BDCs are still making the exchange rate to go up?

Haba, Emefiele and his team should wake up from slumber and hallucination and proffer lasting solution to the financial cum economic woes of the country. BDCs are not the causes of rising inflation and dwindling economy. They should not be used as sacrificial lamb by Emefiele and CBN. BDCs have been supportive of the CBN policies and country's economy. They have provided succour and assistance to the people when it mattered most. They are genuine and legal business entities like every other one in the country.

Shutting the door behind them means adding more woes to the country's dwindling economy. It is time the leadership of the country call Emefiele to order because he is completely destroying the fragile and struggling economy of the country which he had failed to fix since emerging as CBN Governor. Silence is not golden at this point. It is not only about the BDCs, it is about Nigerians and survival of their economy.

Adeyemi, an economic analyst writes from Broad street Lagos.
http://saharareporters.com/2021/08/01/central-bank-governor%E2%80%99s-policy-somersault-foreign-exchange-bureau-de-change-dr-adeola

Please when is the payment date for Flour Mills dividend?

Keep your eyes on the big picture and forget the current volatilities

samguru:
Keep your eyes on the big picture and forget the current volatilities

Very few understand this, less than 10% of the participants in the market do this

locodemy:


You said 80% of our politicians are aligned with Fintechs in hard currency and you think all is well?You have nailed yourself nawh!

You think CBN don't have eye?

Sir, it is a typo error. I wanted to say most of this politicians deals with foreign currency. FINTECH and politics are two different things. Just focus on your NSE jare my Oga.

Back to my hibernation and in the next few months, everyone eyes go clear when Naira to $$$ exchange rate go be lol

emmanuelewumi:



Different markets, different policies.

Yet to see a Stockbroker or Investor who committed suicide based on the performance of his portfolio on NSE compared to some markets where you can gain 200% and lose 95% in a day

At least they should allow more volatility in the so called defensive stocks by reducing the requirement for 100,000 units per trade for price to change. This requirement is making the market dull and limited for traders. This is why traders crowd the much riskier penny stocks.

Godisfaithful:


Sir, it is a typo error. I wanted to say most of this politicians deals with foreign currency. FINTECH and politics are two different things. Just focus on your NSE jare my Oga.

Back to my hibernation and in the next few months, everyone eyes go clear when Naira to $$$ exchange rate go be lol

And if the rate comes down... Hope you won't blame the Government still??

Nezzjnr:

And if the rate comes down... Hope you won't blame the Government still??

Definitely the rate will come down.Its not going to be automatic.If only they will be straight forward and mean business.

For myjoy84 aka Godisfaithful, he is always a doubting Thomas.He will still say one thing....one thing......

Raider76:


At least they should allow more volatility in the so called defensive stocks by reducing the requirement for 100,000 units per trade for price to change. This requirement is making the market dull and limited for traders. This is why traders crowd the much riskier penny stocks.

Blue chip and other defensive stocks are not expected to be volatile

locodemy:


Definitely the rate will come down.Its not going to be automatic.If only they will be straight forward and mean business.

For myjoy84 aka Godisfaithful, he is always a doubting Thomas.He will still say one thing....one thing......

I have not seen a successful investor or business person who complains, wails and laments, rather they pray for the best, prepare for the unexpected and plan for the worst.

locodemy:


Definitely the rate will come down.Its not going to be automatic.If only they will be straight forward and mean business.

For myjoy84 aka Godisfaithful, he is always a doubting Thomas.He will still say one thing....one thing......

Alright sir. The rate will come down and my middle name is Thomas. Dont worry jare my Oga, let's focus on our NSE and make money. CBN is really working hard to make Naira and $$$$ value equal

Nezzjnr:

And if the rate comes down... Hope you won't blame the Government still??

Oga Sir,

The rate has already coming down self. CBN is working very hard for that to happen. NSE is where to put money jare...

locodemy:


Definitely the rate will come down.Its not going to be automatic.If only they will be straight forward and mean business.

For myjoy84 aka Godisfaithful, he is always a doubting Thomas.He will still say one thing....one thing......

If you want to know if the rate will come down or go up, just keep an eye on our fx reserve and oil price.

emmanuelewumi:
Please when is the payment date for Flour Mills dividend?

9th September, 2021

emmanuelewumi:



Blue chip and other defensive stocks are not expected to be volatile

Or are MADE not to be volatile with the forced requirement for at least one 100,000 unit transaction before price can change. May be the use of the word "volatile" is not appropriate here. But you know what I mean. It doesn't help market dynamism for the prices of so many dominant stocks to stay stagnant and fixed for weeks and months. I know that the minimum single trade volume requirement started from the market collapse of 2008; and the need to protect investors from incurring large losses. But times and nature of market participants have changed. Computer technology has led to easier and rapid online trading, attracting younger participants to the market who trade and do not hold positions forever. The proportion of participants who hold stocks for dividend at retirement is decreasing. It is therefore necessary to reexamine some of these regulations and make the market more modern and dynamic.

Raider76:


Or are MADE not to be volatile with the forced requirement for at least one 100,000 unit transaction before price can change. May be the use of the word "volatile" is not appropriate here. But you know what I mean. It doesn't help market dynamism for the prices of so many dominant stocks to stay stagnant and fixed for weeks and months. I know that the minimum single trade volume requirement started from the market collapse of 2008; and the need to protect investors from incurring large losses. But times and nature of market participants have changed. Computer technology has led to easier and rapid online trading, attracting younger participants to the market who trade and do not hold positions forever. The proportion of participants who hold stocks for dividend at retirement is decreasing. It is therefore necessary to reexamine some of these regulations and make the market more modern and dynamic.

Defensive and blue chip stocks are not volatile most holders of these types of stocks are retirees and income investors who need regular cash flow from these stocks.

Go for penny and growth stocks if you love volatility.


Where did you get the figures as per proportion of investors who hold for dividends is small?

Over N1 Trillion dividend was paid last year the pension fund managers, mutual fund managers, endorsement funds, insurance companies, corporate bodies, institutional investors, high networth investors control more than 70% of the market and dividends represent a major part of their returns and wealth creation strategy from the market

emmasoft:


9th September, 2021

Thank you

The essence of defensive stocks, real estate, cash, bonds and other less volatile assets is to hide your loot after getting a windfall from speculation or trading in the stock market

https://doclib.ngxgroup.com/Financial_NewsDocs/33991_ACCESS_BANK_PLC%20DELAY_IN_PUBLICATION_OF_GROUP%E2%80%99S_AUDIT.pdf

Access bank dey beg us say their Q2 result go reach market before September 10th,2021 as plenty regulatory approvals caused d delay.

Godisfaithful:


Oga Sir,

The rate has already coming down self. CBN is working very hard for that to happen. NSE is where to put money jare...

Where?

emmanuelewumi:
The essence of defensive stocks, real estate, cash, bonds and other less volatile assets is to hide your loot after getting a windfall from speculation or trading in the stock market

Exactly......

samguru:
https://doclib.ngxgroup.com/Financial_NewsDocs/33991_ACCESS_BANK_PLC%20DELAY_IN_PUBLICATION_OF_GROUP%E2%80%99S_AUDIT.pdf

Access bank dey beg us say their Q2 result go reach market before September 10th,2021 as plenty regulatory approvals caused d delay.

We await for them

emmanuelewumi:



Defensive and blue chip stocks are not volatile most holders of these types of stocks are retirees and income investors who need regular cash flow from these stocks.

Go for penny and growth stocks if you love volatility.


Where did you get the figures as per proportion of investors who hold for dividends is small?

Over N1 Trillion dividend was paid last year the pension fund managers, mutual fund managers, endorsement funds, insurance companies, corporate bodies, institutional investors, high networth investors control more than 70% of the market and dividends represent a major part of their returns and wealth creation strategy from the market

You have made very good and valid points. I believe in my post I said that the proportion of investors hold for dividend is DECREASING, not is SMALL.

If you want an indication of the rapid increase in traders who do rapid trading just look at the rapid growth of Morgan Securities. They came almost from nowhere and now occasionally top the monthly list of Broker performance in terms of VOLUME of trades, as published by the NGX.

https://ngxgroup.com/ngx-download/top-ten-stockbrokers-for-the-week-ended-06-08-2021/?wpdmdl=31061&refresh=611ecd97417691629408663

Now I am sure some may ask for a breakdown of Morgan's clients. I don't have it. But one may take a hint by observing that while they top the Volume list they don't top the Value list.

Most of the so called blue chip, or defensive, stocks are cyclical anyway, not growth stocks. So it shouldn't bother an investor who holds for dividend if there are short term price fluctuations since in the long term their average prices are almost constant, unless there are major externally induced changes. It shouldn't bother a retiree, or pension fund if the price of Nestle, for example, fluctuates between N660 and N1600 in between dividend payouts, so long as when they are cashing out they target the time of the year with the highest prices. On the other hand short term traders feed on those short term fluctuations.

No one underestimates the importance of dividend payments in the markets. Those who trade and do not hold for dividend in no way affect the ability of companies to pay dividend. The two coexist in all markets. It may however be detrimental if regulations are put in place to favor one over the other. Those who do rapid trading currently include both individual investors and some larger fund managers who cater for investors willing to take bigger risks. If you encourage their participation they may bring in a lot of funds to the market, and tailor more innovative trading.

Whether we like it or not younger and more active population is getting involved in the market, and they are favored by rapid advancement in technology. And it will pay us all to accommodate them.

Flourmill and/or Seplat look like they will move up soon. What do u think?

ojeysky:


Where?

My Oga,

I dey find that dollars self if i see am for current rate