yMcy56:

MTO Form
https://cardinalstoneregistrars.com/forms/

* Had to search for the form due to Uncle Tolu's post here........So some actually saw it and didn't notify the house. It's well o. No one owe anyone anything after all.

**Offer opened on 2nd Nov and closing on 23rd...

After completion,
Am i to submit the form to the stockbroker or to the registrar?
Answer:Registrar

'My list' is not a shopping list, it is a list of companies with a reinvestment program.

emmanuelewumi:


Know what you are buying and the reason for buying.

All the best

Wapgod:
After completion, Am i to submit the form to the stockbroker or to the registrar?
Answer:Registrar

Yes. To the Registrar.

Email: registrars@cardinalstone.com

Naira continues to appreciate against Dollars
* Naira gains 26.24% against $$ in one week......
* Sold @N705/$ as @ Friday 11th Nov......

** Hope this is not Peter lamenting to Business day in the attached.....
Could remember telling him it's risky to buy at high price then, think @730 or so that time.....

yMcy56:
Naira continues to appreciate against Dollars
* Naira gains 26.24% against $$ in one week......
* Sold @N705/$ as @ Friday 11th Nov......

** Hope this is not Peter lamenting to Business day...
Could remember telling him it's risky to buy at high price then, think @730 or so that time.....

Investors are now coming back to the stock market.Soon the market will congest and volumes will begin to speak as usual.If USD continues falling by next week,I will have no other option than to liquidate my fixed investments and enter market full time.

RabbiDoracle:


The same inability to withdraw forex occurred in 2009 - 2010, 2015 - 2016, 2021 - 2022. So it is a cycle that will pass and USD/NGN will revert to 415 if not lower.

This too shall pass.

You really earn my respect.
I remembered when rice was selling for 28k and you alerted us of hunger and inflation.Today I don't believe what my eyes is seeing.

The way I am seeing this USD vs Naira, it gonna reach 415 as you said.

I can also see the rally for stocks will be awful.

Time for me to begin to check those kobo kobo stocks with good numbers.When stocks begins to fly, those kobo stocks with good results will deliver more than 1000%.

locodemy:


You really earn my respect.
I remembered when rice was selling for 28k and you alerted us of hunger and inflation.Today I don't believe what my eyes is seeing.

The way I am seeing this USD vs Naira, it gonna reach 415 as you said.

I can also see the rally for stocks will be awful

So you think the name ORACLE na just for mouth.Na by Merit .My Oga anytime this baba talk please no carry am play

If i no happen now just wait i go still come to pass.i don't joke with his analysis and predictions.i am one of his disciples.

ImperialCovfefe:
When the Naira appreciates, you don't hear a peep. Always silent. Even a 25% change?

Musings.

With the CBN not supplying BDCs with dollars and with the absence of a reliable centralized price aggregating service like abokifx, can temporary volatility in the crypto market disrupt USD-NGN pair? I have been watching this play out in small scale over weekends, with the relatively liquid USDT-NGN (Binance) and BTC-NGN (Luno) pairs effectively setting prices.

Furthermore, with no sufficiently liquid parallel market to effectively arb and price correct the crypto markets, it could be hypothetically possible to run a highly profitable strategy by simultaneously MMing those markets and mopping up BDCs liquidity.

.

Toluway:
Naira appreciated because of U.S. threat against those hoarding Dollars all over the world, particularly in Nigeria- Sen. Shehu Musa. I share his view.

I doubt that. The ubiquity of the dollar is the reason they continue to remain a global power. The dollar is [almost] a legal tender internationally, even rent in some Nigerian cities is collected is USD.

Any such threat will greatly jeopardize their influence and power on international trade and finance.

Toluway:
So Union Bank has finally been bought and delisted.
Cornerstone Registrar asked me to fill a form to enable get my invested money at #7 per share.
Who knows whether any other stock in my portfolio has threaded the same path!

Lol. Try Oando. They will soon make the offer on permission obtained from the courts.

I no dey follow bad news, but $ is back to 815.

Mpeace:
I no dey follow bad news, but $ is back to 815.

Source?

Wapgod:

Source?

Call bdc. The ones that know are already mopping up.

Bizibi:
incredibly profitable.

Quite enriching. So far the best stock related thread in Nigeria.

Slimdove:

So you think the name ORACLE na just for mouth.Na by Merit .My Oga anytime this baba talk please no carry am play

If i no happen now just wait i go still come to pass.i don't joke with his analysis and predictions.i am one of his disciples.

I tell you. As far as I'm concerned, he has just earned his name this few months and i began to respect his pedigree.
Matured, fatherly, visionary, research and globally oriented and selfless. He doesn't have to be absolutely right; he is a human being. Welldone our Leader.

yMcy56:
Naira continues to appreciate against Dollars
* Naira gains 26.24% against $$ in one week......
* Sold @N705/$ as @ Friday 11th Nov......

** Hope this is not Peter lamenting to Business day...
Could remember telling him it's risky to buy at high price then, think @730 or so that time.....

Guys, Nigeria is our country and majority of us want a better future for the country. However, with the ongoing hypes about just a week appreciation on Naira is a hoax to say the least. You see government agencies threatening arrest and all that are not the solution.

The charts are all saying the same thing that Naira-Dollar is experiencing minor pullbacks and nothing more. A re-test of recent high is highly possible coming weeks... That's the reality!

Mpeace:
I no dey follow bad news, but $ is back to 815.

For today, I'm seeing #440 to one dollar. But i think i must have made a mistake.

Mrs Ololade Olayanju, CFA (Relationship Manager, WSTC financial services LTD & Author, "The Debt Code" is our guest on the podcast this week.

We discuss her switch from banking into core finance, good debt Vs bad debt, how to break free from debt and her biggest lessons in finance so far.

Thanks for listening.

https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy80ZWI5NzRjNC9wb2RjYXN0L3Jzcw/episode/ZTY0ZjVkYjUtYThlMi00Yjg5LWI0NGQtNzU2MTQ3MDY1MGI0?ep=14

Toluway:

For today, I'm seeing #440 to one dollar. But i think i must have made a mistake.

thats official rate

BullBearMkt:

Guys, Nigeria is our country and majority of us want a better future for the country. However, with the ongoing hypes about just a week appreciation on Naira is a hoax to say the least. You see government agencies threatening arrest and all that are not the solution.

The charts are all saying the same thing that Naira-Dollar is experiencing minor pullbacks and nothing more. A re-test of recent high is highly possible coming weeks... That's the reality!

I just dey laugh with all the motivational talks of Naira appreciating and rates getting to 415.

It is my prayer it goes down so I can buy more $$ with my dividend early next year.
Nothing has changed in the financial book of the country that suggest dollar will be stable.

Who ever bought ~#550 should not have any worry. They've moved the official rate from #315 to #440 in the last 2 years.

pizapato:


I just dey laugh with all the motivational talks of Naira appreciating and rates getting to 415.

It is my prayer it goes down so I can buy more $$ with my dividend early next year.
Nothing has changed in the financial book of the country that suggest dollar will be stable.

Who ever bought ~#550 should not have any worry. They've moved the official rate from #315 to #440 in the last 2 years.

It might get there. Believe it or not, dangote refinery and a change in the country's economic team could make a lot of difference. I will love to see the impact of that refinery on fx supply.

pizapato:


I just dey laugh with all the motivational talks of Naira appreciating and rates getting to 415.

It is my prayer it goes down so I can buy more $$ with my dividend early next year.
Nothing has changed in the financial book of the country that suggest dollar will be stable.

Who ever bought ~#550 should not have any worry. They've moved the official rate from #315 to #440 in the last 2 years.

Repent

Mpeace:
It might get there. Believe it or not, dangote refinery and a change in the country's economic team could make a lot of difference. I will love to see the impact of that refinery on fx supply.

God keep us alive, I will be here to remind you.

For me I don't see it going below #600. The next goverment will likely try to find a balance between the official and black market rates, which will necessitate further devaluation of the official rate.

If APC win the election, expect the rate to go over #1000.

Mpeace:
I no dey follow bad news, but $ is back to 815.

Oga check well. It didn't go close to 800 self over the weekend.
Closed @680/1$ in some places self..

https://www.nairaland.com/7431710/adamawa-bdc-operators-reject-dollars.

Well, my Oga BBM, I think it's only logical to post Naira appreciating against $$ if some of my ogas had been posting depreciation.
Peter E Ku $$ Biz....

Happy Sunday and Happy New Week @All.

Now that almost everyone is hoarding and doing dollar business; which mechanism can be set to motion to stop it? It seems any amount of dollar coming into the system would be swallowed by the new anaconda; and it's scarcity and rise would continue.
This country is doomed! And for a country without intelligent, forthright and patriotic leaders, the only weapon we have now is prayers.
Let's see how far this miracle of Naira appreciation could go, without a concomitant government policy.
Lest i forget; good morning all, i wish you an eventful and happy new week.

RabbiDoracle:


you think so? Just watch and see how events play out.

Another forecast : I'm giving those in BTC last chance to join NSE now or they see their BTC smashed to $5,532.85

And it could go lower.

With an aggressive selloff, this could crash to $868.60 (Eight hundred and sixty eight dollars sixty cents)

At least I tried to warn them.

Toluway:
Now that almost everyone is hoarding and doing dollar business; which mechanism can be set to motion to stop it? It seems any amount of dollar coming into the system would be swallowed by the new anaconda; and it's scarcity and rise would continue.
This country is doomed! And for a country without intelligent, forthright and patriotic leaders, the only weapon we have now is prayers.
Let's see how far this miracle of Naira appreciation could go, without a concomitant government policy.
Lest i forget; good morning all, i wish you an eventful and happy new week.

When very high inflation comes, you don't hold money (no matter the form). You hold real assets or stocks of companies that sell real assets.

As regards naira - dollar events we see, and in my opinion, we are entering the phase of full digital naira (e-naira). In this phase, there could be too few notes available for circulation.

If there are less naira notes, those with dollar (hoarders, illicit businesses) would want to exchange their paper dollar with new naira notes and they will see that notes are no longer available. Naira notes will now be very scarce. So you either go to to the bank to open a naira account (if they don't have one) or you get stuck with the paper dollars. When hoarders (not genuine businesses holding forex in their books) are tired and need e-naira to use for day to day transactions, they will approach traditional BDCs or banks to change their paper dollars. These institutions will only issue them digital naira. Nothing more!

What will cause exchange rate to collapse faster?

From above, as more hoarders see that they can't transact business using local naira notes, they will be force en masse to go into BDCs or banks to change their useless paper to e-naira. This will cause a severe crash of the $-NGN rates. This will bring convergence of official and parallel market rates.

What if I mask my sales of paper dollar via peer to peer transfer as just a harmless transfer to a friend/family while selling the paper dollar higher to them?

Except your friend/family intends to travel abroad where they still use paper dollar, in most cases everyone will reject the paper dollars. Many countries have started their digital currencies transactions. Starting from 2023 lots of other countries will come onboard to use e-currencies.

That way speculative attacks on any nation's currencies will be eliminated or reduced.

And when these paper dollars reach banks, they will exchange at CBN official rates. Traditional BDCs will reject dollars because they know the game is up since exchange rate convergence is coming . Those who buy higher and can't sell will have to take a loss as they grudgingly walk to the bank.

Till tomorrow you still need naira (and not dollars) to buy tomatoes in nigerian market.

The only tangible reason i can point to the $$ PULLBACK Realistically is that Guangzhou and some major commercial cities in China have been on full lockdown for about roughly a week now so that has striffled a huge demand gap as traders observe for new directives, also the Crypto pullback is also forcing a lot of heavily invested folks to sell dolarised assets to salvage or stop loss

i may be very wrong tho

gbengafaro1986:
The only tangible reason i can point to the $$ PULLBACK Realistically is that Guangzhou and some major commercial cities in China have been on full lockdown for about roughly a week now so that has striffled a huge demand gap as traders observe for new directives, also the Crypto pullback is also forcing a lot of heavily invested folks to sell dolarised assets to salvage or stop loss

i may be very wrong tho

China had been in lockdown since late 2021 yet no pullback.

Crypto had been falling since early this year yet no pullback.

I believe this is a structural change. And it is happening globally. Many countries will get onboard this in 2023.

USD needs to be badly devalued globally. It is not a Nigerian problem, it is a global problem.

US, EU and other developed markets need severe austerity to get rid of their excess unfunded liabilities. Poverty is coming to developed nations.

RabbiDoracle:


When very high inflation comes, you don't hold money (no matter the form). You hold real assets or stocks of companies that sell real assets.

As regards naira - dollar events we see, and in my opinion, we are entering the phase of full digital naira (e-naira). In this phase, there could be too few notes available for circulation.

If there are less naira notes, those with dollar (hoarders, illicit businesses) would want to exchange their paper dollar with new naira notes and they will see that notes are no longer available. Naira notes will now be very scarce. So you either go to to the bank to open a naira account (if they don't have one) or you get stuck with the paper dollars. When hoarders (not genuine businesses holding forex in their books) are tired and need e-naira to use for day to day transactions, they will approach traditional BDCs or banks to change their paper dollars. These institutions will only issue them digital naira. Nothing more!

What will cause exchange rate to collapse faster?

From above, as more hoarders see that they can't transact business using local naira notes, they will be force en masse to go into BDCs or banks to change their useless paper to e-naira. This will cause a severe crash of the $-NGN rates. This will bring convergence of official and parallel market rates.

What if I mask my sales of paper dollar via peer to peer transfer as just a harmless transfer to a friend/family while selling the paper dollar higher to them?

Except your friend/family intends to travel abroad where they still use paper dollar, in most cases everyone will reject the paper dollars. Many countries have started their digital currencies transactions. Starting from 2023 lots of other countries will come onboard to use e-currencies.

That way speculative attacks on any nation's currencies will be eliminated or reduced.

And when these paper dollars reach banks, they will exchange at CBN official rates. Traditional BDCs will reject dollars because they know the game is up since exchange rate convergence is coming . Those who buy higher and can't sell will have to take a loss as they grudgingly walk to the bank.

Till tomorrow you still need naira (and not dollars) to buy tomatoes in nigerian market.

D issue with this theory is dat everytime u are buying items made outside Nigeria say a stick of cigarette u unknowingly do dollar transactions, doesn't matter if u use Naira bills or e-Naira in d actual transaction.

As long as our appeal for foreign products exceeds our collective revenue from exports CBN will be unable to satisfy dollar demands which in turn will keep dollar appreciating against d Naira.

BDCs serves a useful function - providing liquidity for the many that can't get dollars from official outlets and throttling rates with respect to demand and supply.

Do u propose that over 50% of demand comes from hoarders? I don't think so.

Even tomatoes carry hidden dollar transactions:

1. Fertilizer - Some of its constituents are imported.

2. Transportation - Vehicles and fuel are imported

3. Farm tools - Imported

etc

Howmanay of these dollars are sourced through official outlets?