Applications For 2020 Elumelu Foundation Cohort Open Jan. 1

The Tony Elumelu Foundation (TEF), on Sunday, said it will start receiving applications for the next edition of its annual empowerment programme for African entrepreneurs from January 1, 2020.

Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.

The programme, according to a statement by the foundation, is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than three years old, operating in any sector.

Successful applicants will join the over 9,000 current beneficiaries, from 54 African countries, and receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.

Last year, the Foundation received about 216,000 applications, with 42% coming from women entrepreneurs, from every country on the continent.

According to the Foundation’s 2018 Impact Report, 70% of the total number of businesses in its alumni network is still operational two years after benefitting from the Programme. The report also identified an increase of 189% revenue generated and 197% increase in the number of additional jobs created by beneficiaries post-graduation from the programme, as well as a 100% commitment to the Sustainable Development Goals.

The programme is a 10-year, $100m commitment to identify, train, mentor and fund 10,000 young African entrepreneurs, in a bid to create millions of jobs and the revenue required for the sustainable development of the continent.

TEF, seeks to implement through the project, the founder’s philosophy tagged Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.

https://investdata.com.ng/2019/12/applications-for-2020-elumelu-foundation-cohort-open-jan-1/#more

10-Year Master Plan Will Deepen Nigeria’s Capital Market- Uduk


Ms. Mary Uduk, Director-General of the Securities and Exchange Commission (SEC), at the weekend in Lagos said its ongoing initiatives as contained in the 10-year capital market master plan are aimed at deepening the market and making it vibrant and more effective.

Addressing newsmen, she explained that the forbearance window for shareholders with multiple subscriptions is still open, urging those yet to regularize shares purchased with multiple identities to do so.

Uduk said: “The Multiple Subscription Committee presented the status of its ongoing engagement with the Central Bank of Nigeria (CBN) and Committee of Heads of Banking Operation, to display multiple accounts regularisation banners in the banking halls all over the country.

“The committee also reported that CMOs (Capital Market Operators) have commenced the filing of a report on regularised accounts with the commission, on a quarterly basis. Given the relevance of this exercise and the need to create more awareness, the committee requested an extension of the deadline of multiple accounts regularisation.”

A statement by Efe Ebelo, Head, Corporate Communications, at the SEC, quoted Uduk as saying the commission has developed a two-pronged approach to addressing intractable challenges associated with the transmission of shares related to the estate of deceased investors.

“The first involves engagement with and enlightenment of the Probate Registry with a view to providing solutions to the cumbersome process of transmitting shares. “Secondly, Rules are being developed around the time frame for transmission of shares and the fee structure,” she stressed.

Uduk said to boost the e-dividend mandate and Direct Cash Settlement initiatives, the SEC is engaging the Nigeria Inter-Bank Settlement System (NIBSS) on behalf of the capital market community to facilitate identity validation and account validation in an effort to enhance market processes.

According to her, the electronic distribution of annual accounts by public companies to shareholders continues to gain traction, as shareholders have largely accepted the new initiative which will ensure timeliness of information and cost reduction to public companies.

“On the need to grow the market for trading in securities on unlisted public companies, we are making concerted efforts in collaboration with CAC and other stakeholders to assist public companies that are yet to register their securities to do so without much difficulty” she added.

Photo caption: Left to right: Registrar/Chief Executive, Chartered Institute of Bankers of Nigeria (CIBN), Oluseye David Awojobi; Acting Director-General, Securities and Exchange Commission, Ms. Mary Uduk and Governor, Central Bank of Nigeria, Godwin Emefiele at the 54th Bankers Dinner held in Lagos at the weekend.

https://investdata.com.ng/2019/12/10-year-master-plan-will-deepen-nigerias-capital-market-uduk/#more

Mixed Performance Continue, Amidst Profit-taking, Indecision Among Investors


Market Update for December 2
Trading on the Nigerian Stock Exchange (NSE), Monday, he first trading session of December closed marginally lower on profit-taking in highly capitalized stocks, thereby slowing down the recent gaining momentum. The positive performance during the last five weeks has supported the oscillating trend in the past six trading sessions, with traders taking profit at intervals, while the composite index struggled to breakout the recent resistance level of 27,109.29 basis points. Monday’s volatility on low volume traded is a sign of indecision among market players as trading in the most consistently active and positive month of the year kicked off.

At this stage of the market, we advise against any form of panic selling. Rather, take a strategic position in sectors that have suffered huge losses, but still have the potentials to rebound in the remaining days of the year and beyond, as players take timely advantage of low prices around the market. Research and data show that Nigeria’s equities market has enjoyed more positive trends in the month of December over the past decade, arising from the yuletide boom and driven by year-end portfolio balancing among investors and traders.

The table below shows the performance of the NSE index for December 2009-2018:

Monday’s trading opened slightly on the upside in the early hours of the session before pulling back by the mid-morning to afternoon, fluctuating on selling pressure and buying interest, thereby dragging the NSE index to an intraday low of 26,931.13bps, from its high of 27,025.20bps. Thereafter, the index retraced up, closing the day lower than it opening at 26,990.59bps on a negative breadth. On the strength of the above, we are of the opinion that investing and trading equities of choice by their respective trends is an intelligent trading strategy at this moment. Also, observe the fact that many stocks today have broken out of their bearish zone with trading patterns that supports an uptrend. One major attraction in the equities market at this moment is the recent drop in the Treasury Bill rate below 10% over the past weeks. In other words, this has triggered a capital wave in search of higher returns in stocks, not minding the higher risk.

Market technicals for the session were negative and mixed with higher volume traded than the previous day, breadth favoured the bears, even as mixed sentiments prevailed as revealed by Investdata’s sentiment report of a 63% ‘buy’ volume and 37% sell position. The day’s total transaction volume index stood at 0.76, just as the momentum behind the day’s performance was slightly down and Money Flow Index read 57.07 points, from the previous 58.22bps, an indication that funds exited some stocks and the market as short-term traders cashed out their profit during the session.

Index and Market Cap

The benchmark NSE All-Share Index, at the end of Monday’s trading shed 11.56bps, closing at 26,990.59bps from its 27,002.15bps opening, representing a 0.04% drop, just as market capitalization lost N5.58bn, closing at N13.03tr, from the opening value of N13.03tr, which also represented a 0.04% value loss.

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The day’s decline was impacted by profit booking and selloffs in stocks like Guaranty Trust Bank, UBA, Access Bank, CCNN, FCMB, UACN, Oando, and Transcorp Plc, which impacted mildly on the NSE’s Year-to-Date loss, increasing it to 14.13%. Market capitalization gain for the period stood at N1.23tr, representing a 13.06% growth from the year’s opening value of N11.72tr.

Mixed Sector Indices
The sectoral performance indexes were largely bearish, except for the NSE Consumer Goods and insurance indexes that closed higher by 0.71% and 1.02% respectively, while the NSE Industrial Goods index led the decliners, after losing 1.20%. It was followed by the NSE Banking and Oil/Gas indexes, which lost 0.16% and 0.15% respectively.

Market breadth turned negative as decliners outpaced advancers in the ratio of 17:12, while market transactions were mixed with volume rising by 8.59% to 246.51m from the previous session 227.61m units, while value was down by 33.4% to N2.44bn from Friday’s position of N2.85bn. This volume was boosted by transactions in FCMB, Zenith Bank, FBNH, NB and Access Bank.

Unilever Nigeria and Law Union Insurance were the best-performing stocks, topping the advancers table, after chalking 9.94% and 9.23% respectively to close at N17.70 and N0.71 each respectively, on the back of low price attractions and market forces. On the flip side, Sovereign Trust Insurance and UACN lost 9.09% and 8.75% respectively, closing at N0.20 and N7.30 on profit-taking and market forces

Market Outlook
We expect this mixed performance to continue at this beginning of the month given the profit-taking and indecision among market players ahead of the usual Santa Claus and year-end rally as capital flow and repositioning in value stocks will persist. The changing sentiments in expectation of improved liquidity and positive economic indices..

The current undervalued state of the market offers investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down.

Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.

Take Action
INVEST 2020: Opportunities and Trade Ideas Summit

Sub-Topics

Recession or Boom: Five Trading Strategies for Picking Best Stocks in Good Times or Bad-AlhajiGarbaKurfi, Managing Director of APT Securities & Funds Limited.
2020 Global/Nigeria Macro-Economic Outlook & Sectors To Position, RazaqAbiola, Head, Corporate Strategy CSCS Nigeria Plc
Critical Chart Patterns For Pinpointing Stocks That Could Explode Higher In 2020- Abdul-Rasheed OshomaMomoh, Head, Capital Market, TRW Stockbrokers Limited,
Keys To Identify Opportunities In Stocks, Exchange Traded Fund (ETF) Fixed Income and Commodities Markets In Any Market Environment.- Ekwueme Mike Anaydibe, Head, Fixed Income Sales at TRW Stockbrokers Limited.
Mastering Earnings & Dividend Game Plan For 2020 Investing Opportunity & Beyond– Ambrose Omodion, Chief Research Officer, InvestData Consulting Limited,


Over the years, we have received requests from our followers, concerning our annual Traders & Investors Summit scheduled for December, where experts and analysts would x-ray investment and trading opportunities in the New Year.

At the forthcoming summit, participants would

Learn from some of the best professionals in the market
Share Trading ideas and investment opportunity/strategies
Offer opportunities to network with peer value investors and investment professionals who share your passion for investing
Understand more about using Investdata Buy & Sell Signal setup strategies and research tools to improve outcomes
Expected Takeaways

Pinpointing chart patterns for Profitable Trades and investing opportunities in an uncertain market environment
Investment analysis and theses behind these ideas
Special Earnings and Dividend Game Plan for 2020 investment opportunities
Understanding the changing economy and trend for profitable investment
How successful value fund managers research into and evaluate companies
Exclusive insight and actionable value strategies from world-class professional Traders
Over 10 Trading and investing tips for identifying undervalued Stocks you can buy now
Date: December 7, 2019

Fee: N25, 000
Venue: Ostra Hall & Hotels Ltd, Off Otunba Jobifele Way, Opposite NNPC Gas Plant C.B.D, Alausa, Ikeja Lagos, Nigeria.

However, with less than 60 days into the year 2020, you need to start planning now because it is either you plan to succeed in 2020 or you don’t decide. Instead, you fold your hands means you are planning to fail. So, this practical summit is first of its kind because a team of experts will reveal pure practical trade ideas and opportunities in 2020 that will help participants recoup losses and maximize returns no theory. That is, what you can apply or implement immediately and start tracking the result by yourself.

Want to be among the successful investors and traders in 2020 send Yes to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2019/12/mixed-performance-continue-amidst-profit-taking-indecision-among-investors/#more

AMCON Debt May Hit N6.6tr By 2024, Except…, Expert Warns


•Wants Public Officials On Debtors’ List Declared Bankrupt
Management of the Asset Management Corporation of Nigeria (AMCON) and Judges of the Federal High Court of Nigeria (FHC), were at the weekend challenged to explored the AMCON Act (as amended) to declare public office holders indebted to the corporation bankrupt.
This, according to a legal consultant and Senior Partner, Olaniwun Ajayi -LP, Muyiwa Balogun, has become the only alternative to enhance recovery of the over N5.4tr outstanding debt which is proving herculean and a source of pain to the Federal Government.
In a review of the new AMCON Act 2019 at a one-day Seminar for judges of the FHC in Abuja, Balogun warned that the debt profile can easily soar to a whopping N6.6tr by 2024.

A breakdown of the figure, he noted, showed that AMCON still owed the Central Bank of Nigeria (CBN) N4.5tr, just as it is still battling with the N1.7tr worth of Assets Under Litigation (AUL).
This debt, he explained, will eventually become the burden of the federal government and by extension taxpayers, which is why he urged the FHC judges to take the matter as a national assignment and explore all the powers of the new amendment, in view of the corporation’s impending sunset.
He stressed the need to speed up the court processes, pointing to the immorality of allowing the obligors to go away without punishment, especially since both the Holy Bible and the Quran, which incidentally are the dominant religions in the country abhor people who borrow without the intention to repay.

“The Bible in the book of Psalm 37:21 said, “The wicked borrow and do not repay.” In Proverbs 22:27, the Bible also said, “If you have no money to pay, even your bed will be taken from under you…”
The Quran on the other hand in Surat Al-Baqarah: 280 – 282 said, “Whoever borrows money and he intends not to repay it off is a thief.”
Backed by these, he stated that there are no legitimate means adopted by AMCON and its agents to recover the debt as mandated by the Amended AMCON Act that can be termed as draconian.

Balogun wondered what would have befallen the already challenged Nigerian economy, if the debts were not recovered in good time before the sunset, a situation he believes will not be possible without the support of the Federal High Court judges and indeed the judiciary.
According to him, “once you are declared bankrupt, you cannot hold public office. Today, we have AMCON debtors making laws for the Federal Republic of Nigeria. AMCON with your support needs to go to court and declare such individuals bankrupt. Given the sunset period of AMCON and the fact that the debt we are talking about is the commonwealth of Nigeria, it would not be out of place to take full advantage of the bankruptcy power among other special powers in the new amendment.”
The bankruptcy proceedings, he continued, have been explored in other climes to address similar matters arguing that there was no reason why it should not work in Nigeria.

“As a way of being proactive with the new amendment of the AMCON Act, let us test the bankruptcy proceedings because it will be effective. In other jurisdictions, this has proved to be a very potent tool, and why not in Nigeria,” he wondered.
The new 2019 Amended AMCON Act, signed into law by President Muhammadu Buhari earlier in the year gives AMCON sweeping powers to help it recover the debt owed by obligors.
He recalled that AMCON was created in 2010 as a result of the global economic crises of 2008/2009, which nearly crippled the Nigerian financial system, noting that the intervention at the time, depositors would have lost N3.7tr. AMCON had in the process also saved over 15,000 jobs, while purchasing approximately 12,743 bank loans through debt instruments worth N3.9tr. This was based on the simple understanding that the loans would be recovered either through voluntary payment or disposal of assets pledged by the obligors.
Also speaking at the event, AMCON Managing Director/Chief Executive, Ahmed Kuru, lamented a situation where the obligors have been working hard to stretch AMCON to the sunset period.

He however warned that the corporation, under his leadership, is determined to achieve its mandate within the limited time available (and within the law), adding that the amendment can only be as effective as the judiciary pronounces on its provisions within the interpretative powers vested by the Constitution of the Federal Republic of Nigeria 1999.
“On our part, we will continue to sensitize our external solicitors on the best approaches in presenting AMCON cases to the courts. During our recent interaction with our external solicitors, we conveyed some of our concerns and implored them to properly equip themselves with the unique provisions of the amended AMCON Act as well as the Practice Directions whenever they appear before Your Lordships. AMCON is committed to achieving its mandate within the limited time available (and within the law) and we recognize the crucial role of the judiciary in this effort.

“We have repeatedly made the point at every opportunity that all stakeholders must view the AMCON mandate as one of serious national importance. If at sunset AMCON is unable to recover the huge debt of over N5trillion, it becomes the debt of the Federal Government of Nigeria for which taxpayers’ monies will be used to settle. The implication is that the general public will be made to pay for the recklessness of only a few individuals who continue to take advantage of the loopholes in our laws to escape their moral and legal obligations to repay their debts. We should not allow a few individuals to escape with our commonwealth.

“And we want to do it within the confines of the law. As we all know, the Federal High Court is AMCON’s court of first instance. Under the new amendment, State High Courts and the High Court of the FCT have also been vested with jurisdiction to hear AMCON matters, but the powers to grant ex parte orders under section 49 and 50 of the amended AMCON Act still reside exclusively with the Federal High Court,” Kuru submitted.
He further re-echoed the fact that it was unfortunate that AMCON through the instrumentality of the courts has continued to encounter a lot of challenges, which makes recovery difficult.
In addition to that, Kuru said the obligors of AMCON are getting wiser by the day, deliberately causing orchestrated legal delays knowing that AMCON has a sunset date.

It would be recalled that the AMCON Act was first amended in 2015 to address some of the encountered challenges of the corporation at the time. When the obligors again got wiser as it were, it became necessary that the Act is amended again in 2019 with a single objective of recovering the loans bought from the banks in order to settle AMCON’s debt without recourse to taxpayer’s money.
The seminar was attended by the Acting Chief Judge of the Federal High Court, Justice John Terhemba Tsoho, officials of the National Judicial Institute (NJI), the management of AMCON and officials of Legal Academy. Balogun said the Judges of the FHC, which incidentally is AMCON’s court of first instance should as a matter of fact support the corporation to explore the bankruptcy proceedings as provided by the amendment, which he said will at least make it possible for AMCON to rubbish its debtors that are holding public office as persons of no integrity and so cannot hold such office.

Photo caption: Acting Chief Judge of the Federal High Court, Justice John Terhemba Tsoho; Director of Studies, National Judicial Institute (NJI), Mrs. Maryam Kawu; Managing Director/Chief Executive Officer, Asset Management of Nigeria (AMCON), Ahmed Kuru and Justice Abdullahi Mohammed Liman, at the seminar for Judges of the Federal High Court in Abuja…at the weekend.

https://investdata.com.ng/2019/11/amcon-debt-may-hit-n6-6tr-by-2024-except-expert-warns/

UBA Group Wins The Banker’s 2019 African Bank of the Year


For the second time in three years, the United Banker for Africa Plc, at the weekend in London, emerged as the “African Bank of the Year 2019,” in addition to six of its subsidiaries clinching best bank category in Benin, Tchad, Gabon, Congo, Cote D’Ivoire and Sierra Leone.

The bank won the award organized by The Banker Magazine in 2017.

The unprecedented win marks the first time ever in the history of the banker awards, that anyone bank will be given as many as six wins including the grand regional award.

UBA Group was represented at the awards ceremony by its CEO, UBA Africa, Victor Osadolor, who received all seven awards.

John Everington, Middle East and Africa Editor for The Banker, said the aim of the award “is to highlight industry wide excellence within the global banking community.”

The winner, he explained, “is selected from participating banks in each of the countries from which entries are received for the competition.”

Receiving the awards, Osadolor assured that “UBA group will continue to innovate and lead in all our business segments, whilst delivering top-notch operational efficiencies and best-in-class customer service. We are beginning to realise early gains from our ongoing transformation programme and I am excited about the days ahead.”

Commenting on the feat, a statement by the bank quoted its Group Managing Director/Chief Executive, Kennedy Uzoka, as expressing delight over the recognition from The Banker, which he explained, are “a reassurance that we are on track in consolidating our leadership position in Africa, as we continue to create superior value for all our stakeholders.

“UBA must be doing something right, and for us, these awards mark another milestone for the Group. It is a testament to the diligent execution of the bank’s strategic initiatives geared towards customer service. Being recognised as Africa’s best bank complements positive feedback from customers and is a recognition of our improving efficiencies, service quality and innovation. I, therefore, dedicate it to our growing loyal corporate and retail customers, who are our essence.”

Uzoka dedicated the awards to the UBA’s customers, “whose loyalty, support and patronage have remained the source of the group’s growth and competitive edge in all the markets we operate.”

The Banker Magazine is a publication of the Financial Times – a leading global finance news publication that has been in existence since 1888. The Banker magazine is the definitive reference in international banking for high level decision-makers globally.

The “Bank of the Year Awards” are widely regarded as the Oscars of the Banking Industry. For over 90 years, The Banker has been the world’s leading monthly journal for the banking industry.

https://investdata.com.ng/2019/12/uba-group-wins-the-bankers-2019-african-bank-of-the-year/

Will Your 2020 Investment Plan Succeed by Accident.

Ambrose Here Again,

If you insist on leaving your fate to the gods, then the gods will repay your weakness by having a grin or two at your expense. Should you fail to pilot your own ship, don't be surprised at what inappropriate port you will find yourself docked.

Serious investors refuse to let go their quest for financial freedom either in a bull or bear market. They chew on it just as a dog chews on the same old bone for hours.

Just as a dog guards the bones safely when not actively chewing it, serious investors nurture their investments against all odds in the market. That is, they follow instructions of the expert to know exactly when to take action on the market.

However, the true mark of a serious investor are.

1. An ability to sense which stocks are like to yield the best ROI when the real bull market is commencing.

2. Your confidence that you will definitely make a difference in the market.

3. A rugged persistence that will keep you going when others would give up.

Hence, your success in your 2020 financial year is not in the hands � of the government though government policies might affect the market but 80% of the call is in your own hands. So, make the decision to do whatever it takes and get the best out of 2020 through proper planning.

As a result, I have done a short and comprehensive video regarding the big investment opportunities in year 2020, how you can position yourself and when to position yourself.

Click on the below link to Download the free video now.

http://workshop.investdataonline.com/

Happy Trading,
Ambrose Omordion

NSE Highlights Importance Of Capital Market In Achieving SDGs

The Nigerian Stock Exchange (NSE) has highlighted the critical role of the capital market in delivering sustainable socio-economic growth and development in the country.

This was articulated at the award ceremony of the 19th NSE Essay Competition for Senior Secondary Schools in Nigeria which held on Wednesday, 4 December 2019 in Lagos.

Miss Adeniyi Adesewa of Grandmates Secondary School emerged winner of the NSE Essay competition ahead of 40,965 other applicants across the country, clinching the N500,000 scholarship fund for her university education.

In addition, she got N500,000 worth of equity investment; and a laptop, while her school was awarded three desktop computers and a printer.

She was followed by Miss Temiloluwa Oladipo and Master Adeoye Okhai, both of Oritamefa Baptist Model School in the second and third place respectively, each of who were presented with university education scholarships, and equity investments, just as a laptop, along with desktop computers and a printer were presented to their school.

In addition, the top three winners were given the prestigious honour of a Closing Gong Ceremony at the Exchange, while seven other finalists received laptops in recognition of their good performance.

Present at the event was the First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs. Funke Omotosho, who commended the NSE for the initiative to national development, urging participants to stay committed to developing their skills.

The special guest of honour, Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN), challenged the students to develop strong savings and investment culture.

He thereafter awarded N250,000, N150,000 and N100,000 worth of money market investments to the top three winners on behalf of the Association of Issuing Houses of Nigeria (AIHN) and Vetiva Capital.

Speaking at the event, Chief Executive of the NSE, Oscar Onyema, emphasized the need for innovative solutions to leverage the capital market for the achievement of the Sustainable Development Goals (SDGs).

“We need to connect people with products and services that build human and physical capital, as well as bridge infrastructural gaps in Nigeria.

“We have also identified the critical role of millennials in achieving these outcomes evidenced by the overwhelming interest today’s youth have shown in this exercise. We were not only delighted by the thousands of entries we received this year – up over 100% from last year – but also impressed by the quality of progressive solutions articulated in the submissions, some of which will be presented today,” Mr Onyema added.

Mrs Modupe Adefeso-Olateju, Managing Director of the Education Partnership Centre in her keynote address urged the students to develop a range of skills that would ensure a sustainable future in light of our ever-evolving society. She also emphasized education, financial responsibility and integrity as important virtues to imbibe.

The NSE Essay Competition is designed to develop a culture of wealth creation amongst our youth towards “Building a Financially Savvy Generation”. Over the last 19 years, the competition has successfully increased awareness and inspired the active participation of the youth in Nigeria’s capital market. This year’s edition was supported by Zenith Bank Plc, Access Bank Plc, Prime Atlantic Limited and Hewlett Packard Nigeria Limited.

Photo caption: From left, Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN); Miss Lawrence Deborah, 2018 Winner, NSE Essay Competition; Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Miss Adeniyi Adesewa, Grandmates Secondary School, Isolo, Lagos, 1st place winner; Dr. Mrs. Funke Omotoso, representing Her Excellency, Dr. Ibijoke Sanwo-Olu, Wife of Lagos State Governor and Tuface Idibia, NSE Good Cause Ambassador. during the 2019 NSE Essay Competition Awards Ceremony in Lagos.

https://investdata.com.ng/2019/12/nse-highlights-importance-of-capital-market-in-achieving-sdgs/

Senate To Pass 2020 Budget Thursday, Approves Public Procurement Bills


Senate President, Ahmad Ibrahim Lawan, on Wednesday, said the 2020 Appropriation Bill will be passed on Thursday, December 5, 2019, as planned, as part of the resolve to restore the country’s January-December budgetary cycle for the first time since the beginning of the fourth republic.

Ahead of this, the upper legislative chamber passed the Public Procurement Act 2007 amendment bills, which followed a presentation and consideration of the report of the Senate Committee on Public Procurement.

According to a statement by Ezrel Tabiowo, Special Assistant (Press) to President of the Senate, Lawan explained that the Bill, which will complement the 2020 budget, is to be forwarded to the House of Representatives for concurrence.

Ahead of its passage, the report of the Senate Committee on Appropriations was laid before the upper chamber by its Chairman, Senator Jibrin Barau.

Commenting, the Senate President explained that what “we have done today is really to put the icing on the cake on what we are about to do tomorrow by the grace of God, when we pass the 2020 budget.

“We have already passed the Finance Bills that will ensure that we get the required revenue to implement the budget.

“The public procurement process in Nigeria has been a big bottleneck for some time, probably since it was passed.

“I believe that with this amendment, the procurement process will be faster and better, as will be the budget implementation process.

“Surely, this bill will have to go to the House of Representatives for them to concur.

“I had a discussion with the Honourable Speaker that they will concur with us before we go on the Christmas break so that we will give the executive all they would require for them to implement the 2020 budget successfully,” Lawan said.

Meanwhile, the three amendment Bills were sponsored by Senators Shuaibu Isah Lau (PDP, Taraba North); Uche Ekwunife (PDP, Anambra Central); Danladi Sankara (APC, Jigawa North West).

Chairman of the Committee, Senator Lau, in his presentation, said: “certain amendments were made on the bills to encapsulate the ingredients of the varied views collated from experts and professionals, aimed at adding value to the Procurement Act.”

The Senate, in a clause-by-clause consideration of the bill, adopted the recommendations of the committee with slight amendments made to Section 1, under the Establishment of National Council on Public Procurement.

The amendment to clause 1 of the bill provides that the Council shall consist of a Chairman who shall be appointed by the President of the Federal Republic of Nigeria, rather than the Minister of Finance as Chairman, as in the 2007 Act.

The Senate also adopted the committee’s recommendation on the issuance of “Certificate of No Objection” by a Committee of the Directors of the Bureau, chaired by the Director-General of the Public Procurement Bureau.

Similarly, the upper chamber considered the recommendation of the committee to review upwards the mobilization fee from 15 to 20% for local contractors as insufficient.

Accordingly, Section 35 of the Act was amended to provide for not more than 30% mobilization for local contractors.

The amendment for an upward review of 35% mobilization for local contractors was initially proposed by Senator Jibrin Barau (APC, Kano North) and seconded by Ibikunle Amosun (APC, Ogun Central).

The Senate, however, settled for a 30% review moved by Senator Abba Moro (PDP, Benue South) and seconded by Senator Rose Oko (PDP, Cross River North).

Photo caption: President of the Senate, Ahmad Ibrahim Lawan with the European Union Ambassador to Nigeria and ECOWAS, Ketil Karlsen, during a courtesy visit by the ambassador to the National Assembly, Abuja, on Wednesday, December 4, 2019.

https://investdata.com.ng/2019/12/senate-to-pass-2020-budget-thursday-approves-public-procurement-bills/

Shareholders Vote 99.93% For CCNN, Obu Cement Merger


Shareholders of Cement Company of Northern Nigeria (CCNN) and BUA Group-owned Obu Cement Company, at separate court-ordered and Extra-Ordinary General meetings, on Wednesday in Abuja, gave their blessings for the merger of both firms, pending final regulatory approval.

The merger will result in a business combination of both entities, thereby making BUA Cement, their parent company, Nigeria’s second-largest producer of cement by volume by 2020.

At the meeting of CCNN, shareholders voted 99.93% in favour of the merger, which is also expected to enhance the efficiency and capacity utilization of the emergent entity which would have a combined installed capacity of 11m mtpa by H2 2020, from 8m MTPA.

Management of CCNN says the emergent company is set to remain the dominant cement player in the key regional markets in Northern Nigeria, South-South and South-East Nigeria. This is in addition to availing it almost unfettered access to key export markets in West Africa, due to the prime location of its plants.

Commenting on the merger, Chairman of CCNN and founder, BUA Group, Abdul Samad Rabiu, expressed his profound gratitude to the shareholders of both companies for their overwhelming support throughout the process.

The merger, he continued, marks “the completion of yet another phase of our local cement expansion programme.

“This deal will create one of the largest companies in Nigeria and the Nigerian stock exchange. It will also ensure more efficient operation, improved financial performance and create better value for all stakeholders.

“We are certain that the new entity can continue to compete effectively in the cement industry in Nigeria with its more advanced plants and geographical advantages, whilst maintaining its market dominance in its key regions.

“The new, enlarged cement company will be a stronger platform to capture significant synergies and create value for the benefit of shareholders in the form of stronger competitive position, economies of scale, enhanced operations and administrative efficiencies which are expected to accrue.

“Our commitment towards the Nigerian economy remains strong and this new entity further deepens the capital market and is a pointer to the continued resurgence of the economy. We remain committed to delivering exceptional value to stakeholders at all times. Innovation, efficiency and best-in-class technology will continue to be the key drivers of our cement business,” Rabiu stressed.

https://investdata.com.ng/2019/12/shareholders-vote-99-93-for-ccnn-obu-cement-merger/

Stocks Slip Further, Offers New Opportunities, As NGSE Becomes Further Undervalued

Market Update for December 5

Stocks closed lower again on Thursday as trading on the Nigerian Stock Exchange (NSE) maintaining a sluggish down trend as mixed sentiments prevailed on profit booking and sell down in some equities that had appreciated earlier in value. The wait-and-see attitude of market players in the first trading week of December is likely to close negative, thereby halting the four weeks of bull-run.

Earlier on Thursday, Moody’s downgraded Nigeria in its recent rating from stable to negative, indicating that all is not well with the nation’s economic indices and other indicators which remained mixed.

Once again, we expect that the government would do the needful to change the narrative.

Also during the day, the Senate passed the 2020 budget, which would the harmonized with that of the House of Representatives before a final copy will be presented for Presidential assent. Recall that the Appropriation Bill was presented by President Muhammadu Buhari to a joint session of the National Assembly on October 8, 2019. We hope that the President signs the 2020 budget into law in the same spirit of the lawmakers, to achieve the desired change in the national budgetary cycle to January-December. This will enable businesses plan their operation. The Senate increased the government’s spending plan to N10.56tr from the initially estimated N10.32tr to allow for intervention in critical sectors of the economy, even as an expansionary budget is needed to further stimulate the nation’s struggling economy.

Meanwhile, Thursday’s trading started marginally on the upside in the morning before pulling back in the mid-morning and oscillated for the rest of the trading session on profit taking selloffs and positioning in some stocks. This pulled the NSE index to an intraday low of 26,889.48 basis points, from its high of 26,948.58bps, before it retraced up to close the session lower at 26,913.70bps on a low traded volume.

Thursday’s market technicals were negative and mixed as volume traded was higher than the previous day, in the midst of negative breadth and continued mixed sentiment as revealed by Investdata’s sentiment report of a 41% ‘buy’ volume and 59% sell position. The day’s total transaction volume index stood at 0.66, with a weak energy behind the day’s performance as Money Flow Index read 47.96 points, from the previous 57.52bps. This is an indication that funds left some stocks and the market.

Index and Market Caps

At the end of the day’s trading, the benchmark NSE All-Share index lost 24.88bps, closing at 26,913.70bps from its openings of 26,938.58bps, representing 0.09% drop, just as market capitalization was down by N12bn to close at N12.99tr from an opening value of N13tr, which also represented a 0.09% depreciation in investors’ portfolios.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.

The session’s downturn was attributed to selloffs in stocks like Guaranty Trust Bank, UBA, Access Bank, FBNH, Oando, Wema Bank, Honeywell, AXA Mansard and Cornerstone Insurance, which impacted negatively on the NSE’s Year-to-Date loss, increasing it to 14.37%. Market capitalization gain for the period dropped to N1.21tr, representing a 10.85% growth from the year’s opening value of N11.72tr.

Mixed Sector Indices

The sectoral performance indices were largely bearish, except for the NSE Consumer and Industrial Goods indexes that closed 0.69% and 0.01% higher respectively, while NSE Insurance led the decliners after losing 2.52%. It was followed by Banking and Oil/Gas indexes, which were down by 0.67% and 0.03% each.

Market breadth turned negative as decliners outpaced advancers in the ratio of 19:8, while market activities were up in volume and value by 83.6% and 164.2% respectively to 207.26m shares worth N2.85bn from the previous day’s 112.89m units valued at N1.08bn. Volume was driven by transactions in UACN, Access Bank, Guaranty Trust Bank, Zenith Bank and FBNH.

Chams and Union Diagnostic were the best-performing stocks for the day as they topped the advancers table, chalking 9.09% and 8.33% respectively to close at N0.36 and N0.26 each respectively, on the back of market forces. On the flip side, Cornerstone Insurance and Medview Air lost 10% each, closing at N0.63 and N1.62 on profit-taking and sell down.

Market Outlook

Being the last trading day of the week, we expect the mixed performance to continue as investors take advantage of the four correctional profit-taking and indecision among market players to position. This ahead of the usual Santa Claus and year-end rally as capital flow and repositioning in value stocks will persist. There is also the changing sentiment in the expectation of improved liquidity and positive economic indices. At the maturity of OMO investment, more funds will be available as CBN has restricted players to foreign investors and the local banks.

Again, the current undervalued state of the market offers investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down to usher in 2020.

Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.

Take Action

INVEST 2020: Opportunities and Trade Ideas Summit Holds this Saturday!

Sub-Topics

Recession or Boom: Five Trading Strategies for Picking Best Stocks in Good Times or Bad-AlhajiGarbaKurfi, Managing Director of APT Securities & Funds Limited.
2020 Global/Nigeria Macro-Economic Outlook & Sectors To Position, RasaqAbiola, Head, Corporate Strategy CSCS Nigeria Plc
Critical Chart Patterns For Pinpointing Stocks That Could Explode Higher In 2020- Abdul-Rasheed OshomaMomoh, Head, Capital Market, TRW Stockbrokers Limited,
Keys To Identify Opportunities In Stocks, Exchange Traded Fund (ETF) Fixed Income and Commodities Markets In Any Market Environment.- Ekwueme Mike Anaydibe, Head, Fixed Income Sales at TRW Stockbrokers Limited.
Mastering Earnings & Dividend Game Plan For 2020 Investing Opportunity & Beyond– Ambrose Omodion, Chief Research Officer, InvestData Consulting Limited,
Over the years, we have received requests from our followers, concerning our annual Traders & Investors Summit scheduled for December, where experts and analysts would x-ray investment and trading opportunities in the New Year.

At the forthcoming summit, participants would

Learn from some of the best professionals in the market
Share Trading ideas and investment opportunity/strategies
Offer opportunities to network with peer value investors and investment professionals who share your passion for investing
Understand more about using Investdata Buy & Sell Signal setup strategies and research tools to improve outcomes
Expected Takeaways

Pinpointing chart patterns for Profitable Trades and investing opportunities in an uncertain market environment
Investment analysis and theses behind these ideas
Special Earnings and Dividend Game Plan for 2020 investment opportunities
Understanding the changing economy and trend for profitable investment
How successful value fund managers research into and evaluate companies
Exclusive insight and actionable value strategies from world-class professional Traders
Over 10 Trading and investing tips for identifying undervalued Stocks you can buy now
Date: December 7, 2019

Fee: N25,000

Venue: Ostra Hall & Hotels Ltd, Off OtunbaJobifele Way, Opposite NNPC Gas Plant C.B.D, Alausa, Ikeja Lagos, Nigeria.

However, with less than 60 days into the year 2020, you need to start planning now because it is either you plan to succeed in 2020 or you don’t decide. Instead, you fold your hands means you are planning to fail. So, this practical summit is first of its kind because a team of experts will reveal pure practical trade ideas and opportunities in 2020 that will help participants recoup losses and maximize returns no theory. That is, what you can apply or implement immediately and start tracking the result by yourself.

Want to be among the successful investors and traders in 2020 send Yes to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2019/12/stocks-slip-further-offers-new-opportunities-as-ngse-becomes-further-undervalued/#more

Is Nigeria’s Stock Market Recovery In The Offing?

The nation’s stock market and, indeed, the economy, has over the past 22 months has mostly been bearish, besides favouring high yield-sensitive sectors over the real sectors that drive economic growth.
Evidence of this is the national productivity that has for almost 13 quarters struggled with a slower-than-expected GDP growth rate, with undulating movement resulting from geopolitical uncertainties and inconsistent economic policies.
The situation has been made worse by the high cost of funds which has limited private sector access to liquidity needed to boost economic activities for driving national growth and oil macroeconomic progress and prosperity.

Every in the world today, stock markets are a leading indicator of what is happening, just as at the same time they foretell what is about to happen.
The case of the Nigerian stock market is not different. As early as almost six years ago in earlier in 2014 and 2015, the benchmark All-Share index of the Nigerian Stock Exchange (NSE) has betrayed signs of a weak economy with its dominant bearish posture long before the economy finally slipped into recession in 2016. The economic recession came after three consecutive years of negative close by the NSEASI, just as other macroeconomic indicators during the period were negative. It reflected a lack of consumer and investor confidence, with the Naira exchanging for as high as N520 against the U.S Dollar, the GDP was in negative and inflation was ballooned, resulting to imported inflation due to high exchange rate.
To check the situation, recall that the Central Bank of Nigeria, through a bouquet of new policies, intervened in the exchange rate market, introducing the exporters and investors window to provide funds for eligible imports. This was after 41 goods were barred from access to the official foreign exchange window, a situation that boosted manufacturing sector activities and earnings capacity.

The I&E forex exchange window initiative was of great help, as it mitigated the losses that wiped away company profits in the 2016 financial year, as seen in the seeming improved corporate earnings of listed companies in 2017.
According to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) on Friday in Lagos, the I&E window has recorded over $60bn worth of transaction since its inception in April 2017. This has helped to sustain the economic recovery while supporting stock prices in addition to attracting smart money into the market.

Closing their two-day meeting on Tuesday, all 11 members of the CBN’s Monetary Policy Committee (MPC), had in line with the expectations of Investdata Research and other analysts, unanimously voted to retain the benchmark Monetary Policy Rate (MPR) at 13.5%, among others. One reason for the decision to hold rates by the MPC was the spike in inflation rate for the second consecutive month to 11.61% from 11.24% in September, due to a combination of the Federal Government’s closure of Nigeria’s land borders; and poor harvest season, among others.
The committee opted to observe the impact of various unconventional policies and directives of the CBN, for deciding what its next policy option would be.

We note also that this cocktail of policies has helped to trigger national productivity as revealed by the recently released Q3 GDP rate, which grew at 2.28% (READ MORE).
The decision of the MPC to leave the various instruments unchanged was also to protect the nation’s external reserve, as any form of adjustment down may trigger selloffs by foreign portfolio investors in any of the windows which may further exert pressure on an already declining reserves. The oil price oscillation and the future oil market have made the MPC call for a review of the 2020 budget oil benchmark price to $57 per barrel in order to build a fiscal buffer to stimulate the economy.

The usual seasonal demand boost in the fourth quarter could push growth up to 2.48% or so this year. The other drivers are a small rise in crude output and the proposed adjustment of the national budget cycle to January- December calendar year to enhance planning. The CBN policies and directives seem to be addressing age-long problems that have constituted major impediments to economic growth.
The weak economic growth and this prolonged bear market are coming to an end, here is what to do and when. Nothing lasts forever, including the bear or bull markets.

The ongoing market correction remains the longest in the recent bear market and would definitely come to an end. Everyone knows that already, but those who have tried to predict when that end would come have obviously been proven wrong. There are lots of studies that say investors can’t time the market, meaning you can’t be a successful investor if you jump in and out of the market every time you think it’s turning down or up again.
So, here is how to tell if this bear market is ending, when it has actually ended, and most importantly what to do to recover your losses and grow capital by making a fortune when the bulls go crazy.

Market Timing Is Everything
Timing the market, to me, is about knowing when bears are exiting and riding bulls’ markets, recognizing when they are ended. This broad-based timing has made discerning investors and traders wealthy. The most successful and richest traders and investors in history time the markets, like we do at Investdata, especially during the annual investment summit and which we are poised to undertake at the forthcoming INVEST 2020 Summit.
And yes, you can include Warren Buffett in the list of successful billionaire market timers, along with George Soros, Carl Icahn, Steve Cohen, David Tepper, Michael Steinhardt, Paul Tudor Jones, Sir John Templeton, the list goes on. If you don’t know Warren Buffet engages in market timing and trades, then there are things you do not know him.

Success in investment timing involves weeks, months and even years of painstaking research.
Think of good timing in terms of a calendar. Timing in terms of days and weeks is for traders. Think of that kind of timing like clockwork.
Not that there is no money to be made trading short-term. Surely, there is, and we have done that for years. It is just not for everyone, because most people do not have the time to trade for a living like successful traders who make millions every year from trading.

Smart investors make extraordinary gains in bull markets because bull markets can last a long time, depending on the factors driving the market.
Every bull and bear market is unique. What is important is knowing when they are beginning and ending. The positive end of November is signal that the regulatory directive of the CBN, Securities and Exchange Commission, and the Nigerian Stock Exchange are shaping the market with investors buying interest and positive sentiments continue to look up. Note that, high cap equities and a few blue chips price movements have been sluggish, arising from the new price methodology introduced, which re-adjusted volume allowed to move prices.

On the strength of the above, we believe that playing listed equities of choice by their respective trends is an intelligent trading strategy at the moment. Also observed is the fact that equities selling below N1.00 are now highly volatile since the low fund is required to move their prices. Few traders are believed to be enjoying short-term capital appreciation through these listed equities.

One major attraction to the equities market at the moment is the recent drop on the 364-day Treasury bill yield which has trended around 10% over the past week, in other words, funds seeking higher returns are currently finding their ways into the equities market not minding the higher risk.
The market at this point of recovery is likely to experience up and down movement but investors should not panic out of position, rather we recommend that traders should take timely advantage of low prices around the market to accumulate. The expected December rally was projected on the fact that Nigerian Equities Market has more than three years record of Santa Claus rally supported by year-end portfolio balancing and window dressing.

https://investdata.com.ng/2019/11/is-nigerias-stock-market-recovery-in-the-offing/#more

Slowdown In NGSE Decline, Amidst Indecision, But Focus Remains On Dividend Paying, Value Stocks


Market Update for December 4

The nation’s stock market at midweek continued its decline but at a slower pace, while mixed sentiments continued to prevail as market players traded cautiously, despite the rates and yields’ crash across other investment windows, as well as the expected seasonal market moves this December.

The declining transaction volume signals the wait-and-see attitude of smart traders using this opportunity to accumulate some stocks ahead of the seasonal rally associated with year-end.

Indeed, the market is still out of its bearish zone despite the three sessions of profit booking and the trading volume pattern displayed so far. The NSE Index’s movement pattern since the introduction of the new pricing methodology by the management of the Nigerian Stock Exchange differs from some sectorial indexes and individual stocks. The price movement of some stocks that are creating wealth for traders may not, as such, reflect on the index due to the insignificant impact of these equities, as a result, their low prices. The price movement of blue-chip and dividend-paying stocks is a function of the level of liquidity available to the market, while a small amount of money can move the kobo stocks.

Wednesday’s trading opened on the downside, wobbling between the mid-morning and afternoon on buying interests sell down in others, which dragged the benchmark index to an intraday low of 26,918.12 basis points, from its high of 26,956.43bps. Thereafter, it rebounded slightly to close the day lower at 26,934.58bps on positive market breadth.

Market technicals for the session were weak and mixed as volume traded came lower than the previous day, with breadth favouring the bull, just as there were mixed sentiments predominantly as revealed by Investdata’s sentiment report of a 53% ‘buy’ volume and 47% sell position. The day’s total transaction volume index stood at 0.36, with a slowdown in the momentum behind the day’s performance as Money Flow Index read 57.52 points, from the previous 62.77bps. This is an indication that funds left some stocks and the market, despite the low traded volume.

Index and Market Caps

The All-Share Index, at the close of midweek trading, shed a marginal 5.74bps, closing at 26,938.58bps from its 26,944.32bps opening, representing a 0.02% drop, just as market capitalization lost N2.78bn at N13tr, from the opening value, which also represented a 0.02% value loss.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.

Midweek’s downturn was driven by market forces and profit-taking in stocks like Guaranty Trust Bank, Zenith Bank, Okomu Oil, UBA, Wema Bank, FCMB, Honeywell, Oando and Transcop, which impacted mildly on the NSE’s Year-to-Date loss, increasing it to 14.29%. Market capitalization gain for the period dropped to N1.21tr, representing a 10.93% growth from the year’s opening value of N11.72tr.

Mixed Sector Indices

The sectoral performance indices were largely bullish, except for the NSE Banking and Oil/Gas indexes that closed 0.45% and 0.24% lower respectively, while NSE Insurance led the advancers after gaining 0.77%. It was followed by Industrial and Consumer Goods indexes, which were up by 0.34% and 0.15% each.

Market breadth turned positive as advancers outnumbered decliners in the ratio of 16:13, while market activities dropped in volume and value by 40.27% and 62.64% respectively to 112.89m shares worth N1.08bn from the previous day’s 189.01m units valued at N2.88bn. This volume was boosted by transactions in Zenith Bank, FCMB, UBA, Fidelity Bank and Guaranty Trust Bank.

Japaul Oil and May & Baker were the best-performing stocks for the day as they topped the advancers table, chalking 10% and 9.74% respectively to close at N0.22 and N2.14 each respectively, on the back of market forces. On the flip side, Sterling Bank and Chams lost 6.34% and 5.72% respectively, closing at N1.92 and N0.33 on profit-taking and market forces

Market Outlook

We expect this mixed performance to continue at these early days of December, given the profit-taking and level of indecision among market players ahead of the usual Santa Claus and year-end rally as capital flow and repositioning in value stocks will persist. There is also the changing sentiment in the expectation of improved liquidity and positive economic indices. At the maturity of OMO investment, more funds will be available as CBN has restricted players to foreign investors and the local banks.

Again, the current undervalued state of the market offers investors opportunities to position for short and medium-to-long-term views. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down to usher in 2020.

Also, traders and investors need to change their trading strategies due to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.

https://investdata.com.ng/2019/12/slowdown-in-ngse-decline-amidst-indecision-but-focus-remains-on-dividend-paying-value-stocks/#more

Investdata Daily Sentiment Report as of December 7, 2019

NSEASI buy 41% sell 59% MFI 47.96
Access buy 0% volume index 0.76 MFI 43.75
Afrprud buy � volume index 1.04 MFI 60.05
Corner buy 0% volume index 1.39 MFI 22.99
Cutix buy � volume index 2.78 MFI 75.52
Dangsugar buy � volume index 1.10 MFI 80.66
Fbnh buy 0% volume index 1.57 MFI 56.41
Fcmb buy 0% MFI 16.70
Fidelity buy 0% MFI 47.02
GT buy 40% sell 60% volume index 1.58 MFI 68.22
Honyflour buy 0% volume index 0.78 MFI 63.37
Jaiz buy 0% MFI 43.10
Oando buy 0% volume index 1.03 MFI 53.29
Sterling buy 0% volume index 0.96 MFI 37.55
Transcorp buy 0% MFI 27.20
Uacn buy 75% sell 25% volume index 3.22 MFI 68.85
Uba buy 33% sell 67% MFI 40.31
Ucap buy � MFI 52.75
Wapic buy 0% volume index 0.98 MFI 82.39
Wema buy 0% MFI 38.82
Zenith buy 33% sell 67% MFI 41.14

https://investdataltd..com/2019/12/investdata-daily-sentiment-report-as-of.html

ACAN:
NSE Highlights Importance Of Capital Market In Achieving SDGs

The Nigerian Stock Exchange (NSE) has highlighted the critical role of the capital market in delivering sustainable socio-economic growth and development in the country.

This was articulated at the award ceremony of the 19th NSE Essay Competition for Senior Secondary Schools in Nigeria which held on Wednesday, 4 December 2019 in Lagos.

Miss Adeniyi Adesewa of Grandmates Secondary School emerged winner of the NSE Essay competition ahead of 40,965 other applicants across the country, clinching the N500,000 scholarship fund for her university education.

In addition, she got N500,000 worth of equity investment; and a laptop, while her school was awarded three desktop computers and a printer.

She was followed by Miss Temiloluwa Oladipo and Master Adeoye Okhai, both of Oritamefa Baptist Model School in the second and third place respectively, each of who were presented with university education scholarships, and equity investments, just as a laptop, along with desktop computers and a printer were presented to their school.

In addition, the top three winners were given the prestigious honour of a Closing Gong Ceremony at the Exchange, while seven other finalists received laptops in recognition of their good performance.

Present at the event was the First Lady of Lagos State, Dr Ibijoke Sanwo-Olu, represented by Mrs. Funke Omotosho, who commended the NSE for the initiative to national development, urging participants to stay committed to developing their skills.

The special guest of honour, Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN), challenged the students to develop strong savings and investment culture.

He thereafter awarded N250,000, N150,000 and N100,000 worth of money market investments to the top three winners on behalf of the Association of Issuing Houses of Nigeria (AIHN) and Vetiva Capital.

Speaking at the event, Chief Executive of the NSE, Oscar Onyema, emphasized the need for innovative solutions to leverage the capital market for the achievement of the Sustainable Development Goals (SDGs).

“We need to connect people with products and services that build human and physical capital, as well as bridge infrastructural gaps in Nigeria.

“We have also identified the critical role of millennials in achieving these outcomes evidenced by the overwhelming interest today’s youth have shown in this exercise. We were not only delighted by the thousands of entries we received this year – up over 100% from last year – but also impressed by the quality of progressive solutions articulated in the submissions, some of which will be presented today,” Mr Onyema added.

Mrs Modupe Adefeso-Olateju, Managing Director of the Education Partnership Centre in her keynote address urged the students to develop a range of skills that would ensure a sustainable future in light of our ever-evolving society. She also emphasized education, financial responsibility and integrity as important virtues to imbibe.

The NSE Essay Competition is designed to develop a culture of wealth creation amongst our youth towards “Building a Financially Savvy Generation”. Over the last 19 years, the competition has successfully increased awareness and inspired the active participation of the youth in Nigeria’s capital market. This year’s edition was supported by Zenith Bank Plc, Access Bank Plc, Prime Atlantic Limited and Hewlett Packard Nigeria Limited.

Photo caption: From left, Chuka Eseka, Chief Executive Officer, Vetiva Capital Management Limited and President of the Association of Issuing Houses of Nigeria (AIHN); Miss Lawrence Deborah, 2018 Winner, NSE Essay Competition; Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Miss Adeniyi Adesewa, Grandmates Secondary School, Isolo, Lagos, 1st place winner; Dr. Mrs. Funke Omotoso, representing Her Excellency, Dr. Ibijoke Sanwo-Olu, Wife of Lagos State Governor and Tuface Idibia, NSE Good Cause Ambassador. during the 2019 NSE Essay Competition Awards Ceremony in Lagos.

https://investdata.com.ng/2019/12/nse-highlights-importance-of-capital-market-in-achieving-sdgs/

Woooow!! Adesewa my girl... I'm so proud of you girl... This girl lives few blocks away from my house... Very intelligent girl...

Happy Holidays!

As you spend this special moment with your loved ones and friends, we at Investdata Ltd appreciate your support and continuous patronage of our various services and wish you success in your endeavors; we will continue to plan, forecast and organize professional training towards accomplishing your financial goals unto greater height in 2020.

Investdata Price & Earnings Tracking For Week Ended December 6, 2019

https://investdata.com.ng/2019/12/investdata-price-earnings-tracking-for-week-ended-december-6-2019/

Corporate Actions As Of Friday, December 6, 2019

https://investdata.com.ng/2019/12/corporate-actions-as-of-friday-december-6-2019/

Mixed Performance Ahead As Local Fund Managers Position In Undervalued Equities


Update for The Week ended December 6 and Outlook for Dec 9-13

Although the month of December has a reputation of being bullish, it is often an irregular ride. This has been proven again, with trading for the first week, which ended Friday, closed lower on profit-taking and the growing spate indecision among players as the remaining OMO bills and other fixed-income instruments near maturity, with no option of reinvestment. This is due to the recent directive of the Central Bank of Nigeria (CBN) to luck out non-bank domestic investors from the window.

Investdata notes that for as long as the Nigerian Stock Exchange (NSE) stays above the last support level, recovery is likely to continue, due to the relatively low rates in the money market segment with liquidity level expected to improve as the CBN implements its directive on the 65% loan to deposits ratio for banks in the country by December 31. Another factor that may work in the favour of the equity market is the planned early passage and expected Presidential assent to Nigeria’s 2019 budget, just as government revenue would likely rise, going by plans to raise Value Added Tax rate to by 50% to 7.5%, while increasing the tax next, among other efforts to reduce budget deficit.

What is certain is that the economy remains at a crossroads and may flip either positive or negative.

December can also set patterns that would help define big trend trades that would start in January, as discussed at Investdata’s Invest 2020 traders & investors summit held at the weekend in Lagos. Participants learned from experts, among others, how to remain consistently profitable, whether you are a discretionary trader or investor.

Stocks are likely to complete the “V” shape recovery that started in November, due to the fact that this season is the year-end, even as the probability of the market experiencing the Santa-Claus rally this time around now looks slim.

We are of the opinion that the last trading week of the year could record some positive moves, but we maintain that investors should play dividend stocks for medium-term profit, while traders should maintain trades on low priced equities. This will enable timely and frequent capital appreciation as the trading pattern of the NSE index differs from those of many individual stocks as reveal by prevailing price action and index movement.

The global stock markets had a mixed performance during the week under consideration, despite the seemingly positive economic outlook for the rest of this year and 2020, with China posting its first expansion in PMI over the past seven months. This was due to the suspension of new tariffs imposition by China and the U.S. since the resumption of the trade talks in October 2019. This had left the stock market volatile throughout the week but rebounded at midweek on economic news.

Movement Of NSE ASI

Back home, the NSE had a low momentum with profit-taking and mixed sentiments dominating the week’s transactions as ‘buy’ interests among traders and investors were down as reflected on the low traded volume during the period, to halt the four weeks of bull-run in a bear market. The NSE All-Share index opened for the week at 27,002.15 basis points, losing 0.54%, after closing at 26,855.52bps, after touching an intra-week low of 26,746.03bps, on weak demand for high cap and dividend-paying stocks over the period, as kobo stocks remain the toast of traders.

Low and medium cap stocks dominated the top gainer table for the week as profit-taking hit highly capitalized stocks, with players selling down blue-chip equities for profit ahead of the expected year-end rally.

More stocks closed lower, following a capital wave in the local financial market, even as market breadth closed negative, and decliners outnumbered advancers in the ratio of 35:19. The momentum behind last week’s slowdown was evident in the Money Flow Index that read 52.94bps, compared to 61.72bps in the previous week, indicating that funds left some stocks and the market at large.

The week’s trading pattern showed that smart money is accumulating in this low supply before the anticipated markup as the prevailing low prices in the manufacturing sector triggered ‘buy’ interests in the industry. This was due to the impact of lower rates, resulting in reduced cost of funds and the consequent boost in demand, which is expected to create more employment opportunities. Also, the Investdata Sentiment Report for the week revealed a strong buying pressure, with ‘buy’ volume at 38%, and ‘sell’ position of 62%, on a transaction volume index of 0.73.

NSEASI Weekly Time Frame

The slow momentum behind the current pullback of the NSE Index suggests indecision in a bearish channel as revealed by the chart above. However, the reversal of this trend is a function of market forces, depending also on the November inflation reports, and the continued flow of funds into undervalued stocks. The daily and weekly candlestick patterns signal short-term reversal, being the a week, ahead of the Santa Claus rally and end of year window dressing by fund managers and quoted companies.

On a weekly and daily time frame, MACD has turned bullish as the composite NSE index sustained an uptrend signaling the possibility of recovery as demand for stocks continues to look up in the midst of profit-taking. The recent economic data should strengthen investor confidence on the back of the recovery seen in the economy as demonstrated by the latest GDP data, as well as buying interest in stocks observed during the week under review.

The NSEASI, on a weekly time frame, tested the 20-Day Moving Average as it is set to breakout or pullback, while on the daily time frame; the index had broken out the 50-Day Moving Average on divergence in the index action and volume traded. It also signals a high possibility of reversal any moment from now on profit booking. The Relative Strength Index read 39.77, indicating strength, despite being in the oversold region. However, money flow is reading 57.46 points and looking up, on the weekly chart.

Bearish Sectoral Indices

The week’s sectorial performance indexes closed largely bearish, except for the NSE Consumer goods that closed higher by 1.71%, while the NSE Industrial Goods Index led the decliners, after losing 1.27%, followed by the NSE Banking with 1.16% and ahead of the NSE Insurance and Oil/Gas that shed 0.87% and 0.43% respectively.

Market activities, in terms of volume and value for the week, were down by 41.73%% and 14.07% respectively, as 952.7m shares worth N12.77bn changed hands as against the previous week’s 1.61bn units valued at N13.17bn. The week’s transaction volume was driven by heavy trading in FCMB, Access Bank and Zenith Bank. Also, during the week, International Brewery primary market activities opened by way of right issue at N9.00 per share.

The best-performing stocks for the period were Royal Exchange Insurance and Unilever, which topped the advancers’ chart, after gaining 17.39% each, to close at N0.27 and N18.90 per share on market forces and sentiments. On the flip side, Cornerstone Insurance and Medview Airline lost 20.25% and 10% respectively, closing at N0.63 and N1.62, on profit-taking and selloffs.

Market Outlook

We expect mixed performance in the new week, on profit-taking, capital wave and expecting local fund managers to extend their position in undervalued equities with sound fundamentals, as

https://investdata.com.ng/2019/12/mixed-performance-ahead-as-local-fund-managers-position-in-undervalued-equities/

Drive Industrialisation, Create Wealth, Elumelu Urges African Leaders, Others


Tony Elumelu, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and United Bank for Africa Group, on Sunday urged African, Caribbean and Pacific (ACP) Heads of State to drive industrialization and wealth creation in their countries.

In a keynote speech on the theme “Industrialization and Private Sector Engagement for Economic Transformation of ACP States” at the Presidential Dialogue of the 9th ACP Business Summit in Nairobi, Kenya, Elumelu said in this way they would improve their operating environments.

Industrialisation, he noted, will not be achieved without support for small and medium scale enterprises (SMEs) and improved access to electricity.

“We cannot hope to industrialize if we do not fix the issue of power if our entrepreneurs spend so much of their resources to power their businesses, how then are they expected to make the investments necessary to upgrade and industrialize? If we do not tackle these pertinent issues, we will be unable to achieve industrialization, wealth creation and poverty reduction,” he said.

He highlighted infrastructure development as a critical area for achieving sustainable development, highlighting the key role the United Bank for Africa Group plays in achieving this.

“UBA is a force for development in Africa through infrastructure investment and leading the way in cross border payments and services, with the objective of encouraging trade across the continent,” he said.

While citing the impact of the flagship Entrepreneurship Programme of the Tony Elumelu Foundation, Elumelu highlighted the critical role partnership between the private and public sectors, as well as developmental organisations, play in achieving industrialization.

The TEF, the private-sector-led philanthropy, according to a statement, is on a mission to catalyse the economic transformation of the continent by empowering young African entrepreneurs – over 7,500 beneficiaries across 54 African countries thus far – through its Entrepreneurship Programme.

Elumelu shared stories of beneficiaries in Kenya, including Dr. Peter Gichuhi Mwethera, who has developed a contraceptive gel, Uniprin, aimed at preventing HIV infection; and Maureen Amakabane whose ‘Usafi Sanitation’, is bridging the sanitation gap in schools by providing waterless toilets.

According to him, “to date, we have 497 beneficiaries in Kenya, 596 in Uganda, 187 in Tanzania and 194 in Rwanda. This brings the total number of TEF Entrepreneurs in East Africa, so far, to 1,474.”

Organisations such as the UNDP, African Development Bank, the International Committee of Red Cross, and GIZ, he continued, “have helped increase the number of young entrepreneurs we can support “.

Also speaking at the event, President Uhuru Kenyatta of Kenya, agreed with the approach to development, highlighting his country’s private-sector-focused plan which has propelled the country’s ease of doing business rank from 129th position out of 190 economies in 2013 to the 56th position in 2019.

The youth of Kenya, President Kenyatta said “are tech-savvy and indeed with a huge entrepreneurial spirit. They are ready to embrace the digital revolution. We are experiencing a flourishing digital innovation ecosystem which can stimulate the rate of growth of ICT and technology innovations, and nurture vibrant tech startups and incubator hubs as Tony [Elumelu] has mentioned, of those young men and women he has supported through his family and Foundation”.

In closing, Elumelu stressed the importance of including women in the development agenda of the ACP region, commending the European Investment Bank (EIB), for its initiative “She Invest”, which is focused on mobilizing €1bn for women across Africa.

TEF, he stressed, strives “to reach the same goals of uplifting women out of poverty and empowering them with knowledge and resources. This is an invitation to join forces as we have done with the UNDP to lift 100,000 young African boys and girls out of poverty, thereby stemming migration challenges.”

Photo caption: President Uhuru Kenyatta of Kenya listening, as Tony Elumelu, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and UBA Group presented his keynote speech at the 9th ACP Business Summit in Kenya on December 8, 2019.

https://investdata.com.ng/2019/12/drive-industrialisation-create-wealth-elumelu-urges-african-leaders-others/

NSE Index Decline Further, As Low Volume Signals Imminent Reversal, Entry By Smart Money


Market Update for December 9

The Nigerian stock market continued its correction for the sixth trading session, after closing positive for the month of November, forming a bearish divergent index action, just as volume traded signals that the ongoing pullback is short-term, even as players book profits.

The benchmark Nigerian Stock Exchange All Share Index (NSEASI), therefore, recorded the highest loss since October 10, closing below its 20-Day Moving Average on a low traded volume. The low supply in the market indicates an imminent reversal, with smart money likely to markup prices soon. However, let us await confirmation of the next direction.

The regulatory induced capital wave and sentiments are expected to drive economic growth and ‘buy’ interests in stocks, given the prevailing low-interest rates in the money market, which will enhance system liquidity needed to boost productivity and consumption, while supporting economic recovery in 2020. These will be given the necessary boost by the planned early passage and assent to the 2020 budget, just as the Finance Bills (READ MORE) that will support the new tax system and government revenue structure will help fund the 2020 spending plan of government.

Meanwhile, trading for the week started on the downside, which was sustained throughout the session on selloffs and profit-taking, despite the oscillation as the benchmark index touched intraday low of 26,562.25 basis points, from its high of 26,855.52bps. It thereafter retraced up, closing the session lower at 26,681.31bps on negative market breadth.

Monday’s market technicals were negative, with lower volume traded than the previous session, amidst the negative breadth and continued mixed sentiment as revealed by Investdata’s sentiment report of a 36% ‘buy’ volume and 64% sell position. The day’s total transaction volume index stood at 0.62, with strong momentum as shown by the Money Flow Index of 52.90 points, up from the previous 49.60bps. This is an indication that funds entered some stocks, despite that the market closed lower.

Index and Market Caps

At the end of the day’s trading, the NSEASI lost 174.21bps, closing at 26,681.31bps from the 26,855.52bps it opened, representing 0.65% decline, just as market capitalization fell by N84.07bn to close at N12.88tr, from N12.96tr, which also represented a 0.65% value decline in the value of investors’ portfolios.

Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials.

To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.

The day’s downturn was impacted by selloffs and lingering profit taking in Dangote Cement, Guaranty Trust Bank, Zenith Bank, UBA, Access Bank, ETI, FBNH, Oando and UACN, which impacted negatively on the NSE’s Year-to-Date loss, increasing it to 15.11%. Market capitalization gain for the period dropped to N1.02tr, representing a 9.04% growth from the year’s opening value of N11.72tr.

Bearish Sector Indices

All sectoral performance indexes were in red, except for the NSE Insurance that closed 1.25% green, while the NSE Banking led the decliners, after losing 1.94%, followed by the Industrial Goods Index’s 1.12%; while the NSE Consumer Goods and Oil/Gas indexes shed 0.13% and 0.03% respectively.

Market breadth was negative as decliners outpaced advancers in the ratio of 28:5, while market activities were mixed with volume traded dropping by a marginal 2.21% to 192.68m shares from the previous day 197.04m units. Transaction value inched up 0.45% to N3.55bn, from Friday’s N3.53bn.

AXA Mansard Insurance and Cornerstone Insurance were the best-performing stocks of the day as they topped the advancers table, chalking 9.09% and 7.94% respectively to close at N1.80 and N0.68 respectively, on the back of market forces and sentiment. On the flip side, Berger Paints, and C & I Leasing lost 10% and 9.24% respectively, closing at N6.75 and N5.40 on selloffs.

Market Outlook

We expect the mixed performance to continue as investors take advantage of the correctional profit-taking and low supply to position, ahead of the usual Santa Claus and year-end rally as capital flow and repositioning in value stocks continue. There is also the changing sentiment in the expectation of improved liquidity and positive economic indices. At the maturity of OMO investment, more funds will be available given the Central Bank of Nigeria’s restriction of the OMO market to foreign investors and domestic banks.

Again, the current undervalued state of the market offers investors opportunities to position for short and medium-to-long-term horizons. We expect that investors would target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year draws down to usher in 2020, just as was noted in the 10 golden stocks and trading ideas for 2020 discussed last weekend during the Investdata 2020 Traders & Investors Summit.

Also, traders and investors need to change their strategies owing to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.

Meanwhile, we appreciate all that made Invest 2020 Traders and Investors Summit a success. The home study pack will be available next week. To book for the pack , Send Yes or Stock to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2019/12/nse-index-decline-further-as-low-volume-signals-imminent-reversal-entry-by-smart-money/

Senate Laments Rising Unemployment, Seeks Unemployment Fund

The Senate on Wednesday lamented the high rate of unemployment in the country, suggesting solutions, including urging the three-tiers of government to declare an emergency on the provision of jobs across the country.

The lawmakers challenged the Federal, States and Local Governments to revitalize existing industries, while the executive arm should initiate an employment fund that will pay stipends to unemployed Nigerians until such persons secure jobs.

The resolutions, which also included urging the Ministry of National Planning to put a mechanism and programme in place for this purpose, were reached after consideration of a motion on the “Escalating Rate of Employment in the Country,” sponsored by Senator Ike Ekweremadu.

Ekweremadu, who brought the motion, relying on orders 42 and 52 of the Senate standing rules, lamented that a large number of graduates from high institutions of learning in the country yearly without jobs is a “time bomb waiting to explode”.

Citing a report published by the National Bureau of Statistics in 2019, he noted Nigeria’s unemployment rate stood at 23.1% of the workforce in the third quarter of 2019.

Quoting the Minister of Labour and Productivity, Chris Ngige, the lawmaker raised the alarm that Nigeria’s unemployment rate will hit 33.5% by 2020.

“Any nation with such number of unemployed but employable youths is only sitting on a keg of gun powder.

“The most pressing demand on the hand of every legislator and public officer is the rising number of curriculum vitae and application for employment from constituent Nigerians.

“A situation where every school graduate has to queue up for a job only in government offices is an indication of the breakdown of the private sector which is the major driver of world economies.”

The lawmaker added that unemployed Nigerian youths with potential talents “lying idle and wasting away are usually misdirected toward many unprofitable and harmful ventures and lifestyles.”

He said that the most active percentage of the nation’s population is forcefully kept away from participating in the economic development of their fatherland and contributing toward the Gross Domestic Product (GDP) by unemployment.

Attributing the high level of crime in any society to the high rate of unemployment, Ekweremadu stated that “unemployment is one of the major causes of upsurge in rural-urban migration which put pressure on facilities at the urban centres.

“Unemployment is one of the major reasons why insurgency, kidnapping, armed robbery, Cybercrimes and other vices are on the increase.”

Senator Istifanus Gyang (PDP, Plateau North), in his contribution, described unemployment as “a monster that, if we (Nigerians) are not careful, can consume us as a nation.”

Another lawmaker, Olubunmi Adetumbi (APC, Ekiti North), decried the inability of the private sector to address the escalating rate of unemployed persons in the country.

According to him, the government, on the other hand, lacks the capacity to create jobs, as doing so would create an expansion in the fiscal responsibility of government.

https://investdata.com.ng/2019/12/senate-laments-rising-unemployment-seeks-unemployment-fund/

Stakeholders Task FG On Sound Investment Climate


Nigeria can attract more investments in the capital market if only the Federal Government can consistently work towards creating a sound investment environment devoid of political, social risk as well as maintaining transparency.

This was the view of capital market stakeholders at the Capital market Correspondents Asociation of Nigeria (CAMCAN) 2019 annual workshop themed “Bridging Nigeria’s Infrastructure gap: The Capital Market Option” which held in Lagos at the weekend.

Speaking during a panel session, Managing Director, Central Securities Clearing System (CSCS) Plc, Haruna Jalo-Waziri, who was represented by Head, Internal Control, CSCS, Mrs. Isioma Lawal, noted that for the capital market to attract more investment, transparency, as well as accountability, is needed.

“The Federal Government needs to focus on things that re-assure investors that before they take investment decisions, key determinants such as security of investment, corporate governance, risks amongst other factors, can be guaranteed and that is what we at the CSCS stand for”, he said.

Also speaking, the Chief Executive Officer, Nigerian Stock Exchange (NSE), ​ Oscar Onyema who was represented by the Divisional Head, Trading Business, NSE, Jude Chiemeka, stressed that infrastructural gap is not only a Nigerian factor but is found amongst other African countries.

“It is a problem that cuts across Africa and to a large extent, funding is not the main issue rather the issue centers around government policies. The capital market thus represents a platform to provide a guarantee to these investors because the government cannot do it all alone”.

The NSE CEO thereafter called on the government to sustain collaboration with the private sector, adding that the Exchange will continue to create products that can finance infrastructure.

For his part, Head, Debt Capital Markets, FBNQuest Merchant Bank Limited, Oluseun Olatidoye, noted that infrastructure financing remains an unsolved puzzle and urged the state governments to prioritise funding for specific projects.

He said, “One of the challenges facing Nigeria is that we have so many programmes but we are not concentrating well enough on them. There is a need to focus funding on specific projects and provide some form of guarantee, that way, investments can flow into the economy.”

https://investdata.com.ng/2019/12/stakeholders-task-fg-on-sound-investment-climate/

Senate Protests Foreign Dominance Of NNPC’s $9bn DSDP Oil Swap Deals


The Senate on Wednesday mandated its Committees on Local Content Legislative Compliance and Petroleum Downstream to investigate the influx of foreign vessels into Nigeria’s coastal region and the level of patronage of Nigerian shipping companies.

Sponsor of the motion, Senator Olalekan Mustapaha (APC, Ogun East), put the value Nigerian National Petroleum Corporation’s Direct Sale of Crude Oil and Direct Purchase of Petroleum Product (DSDP) for 2019/2020 contract period at about $9bn.

Sadly, he lamented, of this amount, “foreign ship-owners amount for 100% of freight associated with this downstream activity, most of which is repatriated overseas to the detriment of the Nigerian economy.”

According to the lawmaker, “The influx of foreign vessels into the Nigerian downstream sector is alarming against the Coastal and Inland Shipping (Cabotage) Act 2003 which clearly restricts vessels engaged in domestic coastal trade.”

He noted that the National Content (NOGICD) Act 2010 was enacted to promote value addition to the National Economy by stimulating growth and industrial development in the Oil and Gas Sector of the Economy.

The upper chamber, therefore, directed the committees to investigate the flagrant abuse of the NOGICD Act 2010 and Cabotage Act 2003 respectively, by operators and stakeholders in the Maritime Industry.

The Senate also resolved to dig into foreign ship owners of freight associated with downstream activities repatriated overseas by the NNPC to the detriment of the economy.

The resolutions were sequel to the consideration of a motion on the “Urgent need to investigate the breach of Nigerian laws by foreign vessels in coastal shipping of petroleum products in the downstream sector of the Nigerian maritime industry.”

He added, “Only wholly-owned, manned and registered Nigerian vessels can engage in the domestic coastal carriage of Petroleum products within the Territorial and Inland Waterways.”

Senator Mustapha said that over the last 15 years, indigenous tonnage capacity and coastal shipping capabilities have grown exponentially with Nigerian operators owning multiple tanker vessels in their fleet.

The lawmaker stated that though NNPC is the largest employer of downstream shipping services in Africa, the corporation’s activities in terms of opportunities and indigenous capacities have not been enhanced.

The lawmaker added that the lack of Contract of Carriage and the absence of guaranteed cargo tonnage in the Maritime Industry have led to significant loses and collapsed of domestic and indigenous shipping.

Consequently, the Senate, in its resolutions, mandated its Committees on Local Content; Petroleum (Downstream); and Legislative Compliance to investigate the reasons for the dominance of foreign vessels above locally owned, manned and registered vessels in the domestic carriage of petroleum products within the coastal territory and Inland waterways of Nigeria.

The resolutions were sequel to the consideration of a motion on the “Urgent need to investigate the breach of Nigerian laws by foreign vessels in coastal shipping of petroleum products in the downstream sector of the Nigerian maritime industry.”

https://investdata.com.ng/2019/12/senate-protests-foreign-dominance-of-nnpcs-9bn-dsdp-oil-swap-deals/

Dangote Cement Seeks Approval To Buy-Back 10% Of Issued Shares


Directors of Dangote Cement Plc, on Friday, has scheduled an extraordinary general meeting for January 12, 2020, where shareholders are to consider a proposal that the company buys back up to 10% of its total shares in issue.

Before the vote, the shareholders are expected to approve an amendment of the company’s Articles of Association by inserting three new clauses that would reduce its share capital and authorise the proposed buy-back.

The board, according to Edward Imoedemhe, Dangote Cement’s deputy company secretary, is also proposing that subject to applicable law or the directive of the appropriate regulatory authority, the company may cancel such repurchased issued shares or otherwise acquired under the Proposed Transaction as confirmed by the company’s registrars.

In the accompanying explanatory note, Dangote Cement said the share buy-back is part of its corporate strategy of improving Returns on Equity and shareholder value while facilitating future long-term growth.

The directors believe the buy-back is one of the appropriate capital allocation decisions to improve long-term shareholder value (improving earnings per share); besides supporting the company’s continuous capital structure and balance sheet efficiency. It is also expected to reduce the average cost of capital and therefore enhance shareholder value in the long-term.

“The relevant shares will be repurchased out of the profit of the company and any such number of shares bought under the programme is required to be cancelled in accordance with the SEC (Securities and Exchange Commission) Rules and the Nigerian Stock Exchange Rulebook 2015, which will consequently lead to a reduction in issued share capital,” the company explained further.

Section 160(1) of the Companies and Allied Matters Act (CAMA) provides that the Articles of Association of a company must authorize any share buy-back programme to be undertaken by the company, just as it must authorize any reduction of the company’s share capital as provided under Section 160 of CAMA.

Also, the programme is to be completed within 12 months from the date of receiving the shareholders’ approval, even as “the board may delay, amend or terminate the programme at any time by releasing an announcement to that effect to the NSE, irrespectively of whether any or all of the shares have been repurchased.

Unless otherwise approved by the regulator, the company says it shall not implement the programme within 15 days before the publication of its annual or interim results.

With a huge N731.15bn in retained earnings as of September 30, this year, the company says it intends to fund the programme from its reserves.

The board members, who together hold 243,540,000 ordinary shares, the company said, will not participate in the buy-back programme.

Vetiva Capital Management Limited and Banwo & Ighodalo are acting as financial advisers and legal advisers respectively to Dangote Cement Plc in connection with the proposed share buy-back programme.

According to the document, the 10% stake or up to 1, 704,050,741 fully paid ordinary units to be repurchased under the programme, will however be subject to availability of the shares. The company is also under no obligation to buy all or any of the buy-back shares.

The buy-back will also be either at the prevailing market price, or through a self-tender offer at a price to be determined by the board, but not more than 5% above the average calculated market price over the five days preceding the offer.

https://investdata.com.ng/2019/12/dangote-cement-seeks-approval-to-buy-back-10-of-issued-shares/#more

Investdata Daily Sentiment Report as of December 26, 2019

NSEASI buy 68% sell 32% volume index 1.22 MFI 31.07
Access buy 80% sell 20% volume index 1.10 MFI 51.48
Afrprud buy 0% volume index 7.10 MFI 81.18
Caverton buy � volume index 0.81 MFI 63.22
Dangsugar buy 0% MFI 91.32
Eti buy � volume index 1.44 MFI 33.98
Fbnh buy 0% volume index 1.40 MFI 24.76
Fcmb buy 0% MFI 51.79
Fidelity buy � volume index 1.32 MFI 64.52
GT buy � MFI 47.95
Jaiz buy 0% MFI 52.48
Stanbic buy � MFI 87.41
Sterling buy � MFI 67.35
Transcorp buy 67% sell 33% volume index 2.43 MFI 26.21
Uba buy � MFI 43.80
Ucap buy � volume index 0.85 MFI 45.31
Unilever buy � MFI 28.97
Uniondac buy 0% volume index 13.48 MFI 0.37
Wema buy 0% MFI 28.27
Zenith buy 0% volume index 0.81 MFI 19.82

https://investdataltd..com/2019/12/investdata-daily-sentiment-report-as-of_26.html

Welcome to the Your Best Year Ever

Usually, I would have wished you all the best wishes in 2020 which I will definitely do because you are very special to me. However, that is not the reason I sent you this post.

Sincerely, towards the end of 2019, I posted about your planning for your life. Planning here cuts across your spheres of life.

That is, it involves 4 major areas, your health, finances, relationships, and personal development.

Health: some of us don't put it in our plan to go for a full check-up in other to determine the status of our body and take necessary precautions where needed. You service your car how many times in a year. Do you such for yourself?

Finance and Career: I want to be frank with you here, the only way to constantly upgrade your finance is by constantly producing. That is, your money has to be constantly Multiplying. All this can be done through knowledge acquisition in your area of endeavor.

Relationships: well if you a woman then this should not be new to you because women have naturally inclined to build relationships. But for a man, we need to. Yes I agree with you must work but you need people to be around you. Some will say that I am not a peoples person. "Dey there" nobody is, we only just decided to be. I am not saying that you should go with lots of people but few. It is when you retire that you will get me.

Personal development: This is very important because it will you understand and manage the above 3 aspects very well. Hence, make it a routine to study for 45 minutes per day on subjects that affects the 3 above aspects of our lives.

��✨✨��In this New year �

Hear this, the best story of your life shall be told this year.
Beyond your wildest dream, God will ensure you are helped. Enjoy the New year.��

Ambrose Omordion
Investdata Consulting Limited

Investdata Daily Sentiment Report as of December 31, 2019



NSEASI buy � volume index 1.56 MFI 47.25
Access buy 58% sell 42% volume index 1.32 MFI 51.09
Chams buy � MFI 51.67
Corner buy � MFI 20.91
Dangcem buy � volume index 3.76 MFI 43.32
Fbnh buy � MFI 43.51
Fcmb buy � MFI 54.79
Fidelity buy 33% sell 67% MFI 69.07
GT buy 0% volume index 2.87 MFI 66.15
Jaiz buy 0% volume index 1.72 MFI 23.83
Japaul buy 0% volume index 1.15 MFI 42.52
Learn buy 0% volume index 6.53 MFI 0.00
Nascon buy 0% volume index 1.78 MFI 41.77
Nem buy � volume index 5.54 MFI 89.80
Oando buy 0% MFI 28.92
Transcorp buy � volume index 9.51 MFI 65.73
Uba buy 50% sell 50% volume index 2.17 MFI 67.47
Ubn buy 0% volume 2.22 MFI 14.72
Wapco buy � MFI 29.68
Zenith buy 67% sell 33% volume index 1.43 MFI 33.89

https://investdataltd..com/2020/01/investdata-daily-sentiment-report-as-of.html

With 2019 In Final Hours, Investors Eye Full-year Earnings Season, Strong Growth Potentials, Dividend


Market Update for December 30

The countdown to the end of the year 2019 entered its very last few hours on Monday, with the nation’s equity market extending it bull-run for the second consecutive session on positive sentiments and increased demand for highly capitalized stocks. There was also an improved traded volume that revealed the expected year-end window dressing by fund managers and listed companies, which helped some stocks to close higher.
The change in the trading pattern since the commencement of the new pricing methodology was announced by the Nigerian Stock Exchange, increasing the activities of day traders in a market that defied the annual Santa Claus rally which had for almost a decade supported positive performance in the month of December.
Trading on the NSE so far this month has left the index down by 1.45%, despite the positive sentiment and high volatility recorded so far in this period on increased economic activities and capital wave with many investment options maturing this last month of the year, thereby making more funds available. This is due to restrictions introduced by the Central Bank of Nigeria CBN, depriving fund managers of the opportunity to reinvest in the maturing instruments.
The level of indecision among fund managers till this moment has left the market oscillating, despite the low-interest rate in the money market and declining yields in the fixed income market.
At this stage of the market, we advise against any form of panic selling. Rather, take a strategic position in sectors that have suffered huge losses, but still have the potentials to rebound in the new year and beyond, as players take timely advantage of low prices around the market. The table above reveals that Nigeria’s equities market has enjoyed more positive trends in the month of December over the past decade, arising from the Christmas boom and driven by year-end portfolio balancing among investors and traders.
The table below shows the performance of the NSE index for December 2010-2019:

10-Year NSE Index Movement For The Month Of December
2010 24,764.65 24,770.52 0.02
2011 20,003.36 20,730.63 3.64
2012 26,494.44 28,078.80 5.98
2013 38,920.85 41,329.19 6.19
2014 34,543.05 34,657.15 0.33
2015 27,385.69 28,642.25 4.59
2016 25,241.63 26,874.62 6.47
2017 37,944.60 38,243.19 0.79
2018 30,874.17 31,430.50 1.80
2019 27,002.15 ? -1.45
Meanwhile, Monday’s trading opened slightly on the downside before oscillating between the mid-morning and afternoon on a strong buying interest in medium and high cap stocks like Nestle, Dangote Cement and Seplat which pushed the NSE index to an intraday high of 26,609.34 basis points, from its low of 26,226.18bps. It, thereafter, finally closed the day at the day high on an increased traded volume. Market technicals for the session were positive and strong, with volume traded higher than the previous session, in the midst of positive breadth and positive sentiment

Index and Market Caps
The benchmark NSEASI, at the end of the day’s trading, gained 192.86bps, closing at 26,609.34bps from the previous 26,416,48bps close, representing a 0.73% growth, just as market capitalization gained N93.4bn to close at N12.85tr, from an opening value of N12.75tr, which also represented a 0.73% appreciation in value.
Attention: If you have not signed up for Investdata buy and sell signal setup, don’t delay. We have just added another risk management feature and new stocks of most revered traders and investors in corporate Nigeria to our watchlist. These stocks are with double potentials.
To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. Take advantage of this service to buy right and sell right at the current market situation ahead of year-end seasonality and full-year earnings reports portfolio reshuffling and repositioning as we await an economic roadmap from the government advisory team to stimulate and re-track the economy again.
Monday’s upturn was driven by Nestle, Seplat, Flour Mills Zenith Bank, FBNH, UACN, UBA, and NB Plc, all of which impacted on the NSE’s Year-to-Date loss, raising it to 15.34%. Market capitalization YTD growth fell to N1.04tr, representing a 0.73% growth over the year’s opening value of N11.72tr.

Bullish Sector Indices
All sectoral performance indexes closed green, except for the NSE Banking index that fell by 0.70%, while the NSE Oil/Gas index led the gainers, after inching 5.08% up; followed by the Consumer Goods Index’s 2.13%; and the NSE Insurance, improved by 1.02%, while the NSE Industrial Goods index followed by 0.42%.
Market breadth was positive as advancers outnumbered decliners in the ratio of 23:12, while market activities increased, as transaction volume and value increased by 72.04% and 136.4%, as stockbrokers crossed 382.81m shares worth N7.19bn, compared to previous day’s 222.51m units valued at N3.04bn. This volume was driven by Transcorp Plc, Guaranty Trust Bank, Access Bank, UBA and Zenith Bank,
NEM Insurance and Eterna were the best-performing stocks of the day, as they gained 10% 7.89% to close at N2.42 and N3.30 respectively, on low price attractions and market sentiments. On the flip side, C & I Leasing and Learn Africa lost 10% and 9.60% respectively, closing at N5.40 and N1.13 on market sentiment and profit-taking.

Market Outlook
We expect a mixed performance as the year 2019 winds down amidst profit-taking, while investors take advantage of low prices, ahead of the year-end rally with the continuing capital flow and repositioning in value stocks. There are, also, the changing sentiments in the hope of improved liquidity and positive economic indices.
We expect that Investors would focus on the upcoming full-year earnings season, targeting companies with strong potential to grow their dividend on the strength of their earnings capacity.
Again, the current undervalued state of the market offers investors opportunities to position for short and medium-to-long-term, which is why investors should target fundamentally sound and dividend-paying stocks for possible capital appreciation as the year winds down, giving way to 2020, just as was noted in the 10 golden stocks and trading ideas for 2020 discussed during the Investdata 2020 Traders & Investors Summit.
Also, traders and investors need to change their strategies owing to NSE’s pricing methodology, CBN directives and its impact on the economy in the nearest future.
Meanwhile, we appreciate all that made Invest 2020 Traders and Investors Summit a success. The home study packs are available. To grab your pack, Send Yes or Stock to 08028164085, 08032055467, 08111811223 now.

Ambrose Omordion
CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467

https://investdata.com.ng/2019/12/with-2019-in-final-hours-investors-eye-full-year-earnings-season-strong-growth-potentials-dividend/#more

With Enhanced Liquidity, Low Stock Valuation, Investors Position For Medium, Long-term

Market Update for The Week ended December 27 and Outlook for Dec 30

Nigerian stocks retraced up after the Christmas holidays on the back of increased buying interests in consumer goods, ahead of year-end portfolio rebalancing and window dressing, resulting in a mixed performance during the three-day week. The benchmark Nigerian Stock Exchange All-Share Index (NSEASI) closed lower, after hitting a new 52-week low at 26,018.13 basis points on selloffs in heavyweights like MTN Nigeria and Guaranty Trust Bank, among others.

The expected year-end rally may not be over yet either, as the recent NSE Index and price action could attract even more new buyers, once the short-term oversold situation burns itself out.

As shown in the chart pattern and candlestick formation during the three trading sessions, the NSE’s benchmark index hit its bottom in the two-year bearish channel, an important annual floor trader support level (S2). In the process, it formed a double bottom chart pattern with the index touching the lower band of the Bollinger bands, signaling an imminent reversal of trend, relative to performance which ushered the NSEASI’s downtrend in 2018.

With just two trading sessions remaining before the New Year holiday on Wednesday, it is now certain that the year 2019 would close in negative territory as the ASI continues to fall. After losing 18% in 2018, and with two sessions to go, the NSEASI has lost 15.74% year-to-date, bringing cumulative loses for both years to 33.74%.

Positive sentiments are, however, expected to dominate equity assets in 2020, given the prevailing low valuations with the hope for an improved macroeconomic environment in the new year, supported by the 201 full-year earnings performances. We, therefore, expect to see increased positioning by portfolio investors and traders with medium-to-long-term objectives.

The undervalued state of the nation’s stock market as revealed by the 6.54% average dividend yield, while the 6.74x Price to Earnings Ratio, makes its attractive as an investment destination, compared to those of the 22 largest economies in the world. its global counterpart.

It may come as a surprise that the United States currently has the second-lowest yield at just 1.83%, better than India’s 1.19%, a market currently trading at 29.63x earnings, while Russia currently has the highest dividend yield of 6.23% and the lowest valuation with a P/E ratio of just 6.68. This was despite being the second best-performing equity market in 2019, with its benchmark index rising by over 43% year-to-date. There are nine other countries with a dividend yield below the global average of 3.23%.

Given that interest rates remain historically low around the globe, and holding constant the varying levels of risk between a country’s stocks and bonds, equities generally continue to offer investors a higher return.

The low money market interest rate regime and increased lending to the real sector arising from the 65% Loan to Deposit Ratio required by the Central Bank of Nigeria at the end of this year, it is expected that over N2.2tr worth of new bank credits will flow into the economy. This will significantly boost the economy when combined with the expected multiplier effect of the early passage and signing of the 2020 budget capital expenditure early in the new year.

We, therefore, do not see the need for Naira devaluation; instead, the CBN should maintain price stability and target growth in sectors capable of attracting foreign inflow, especially if the country’s infrastructural development improves and impacts the life of Nigerians. There is also the need for government to have a rethink and obey court orders, while respecting the rule of law, thereby enhancing investor confidence.

Movement Of NSEASI

Despite the down market during the period under review, positive sentiments trailed dividend stocks with low traded volume as a result of the two-day Christmas holidays.

The NSE index opened the week negative, losing 1.10% on Monday as selloffs hit high cap stocks such as telecommunication giants, defying the expected Santa Claus rally. The situation was extended to Tuesday when the composite Index shed 0.60% on sell down, as the market reacted to the downgrade of Nigeria’s economic outlook. This trend was reversed Friday, gaining 1.25%, ahead of the year-end rally, bringing the week’s total decline to 0.41%, worse when compared to the 0.04% loss recorded in the preceding week.

The NSEASI touched an intra-week low of 26,018.13 basis points, from a high of 26,526.35bps on a mixed demand for financial and consumer goods and other stock that had suffered losses over the period, closing at 26,416.48bps from an opening figure of 26,526.35bps. Also, market capitalization lost N51.56bn to close the week at N12.75tr from its opening value of N12.8tr, representing 0.41% value loss.

Many equity prices remained unchanged during the week, with day traders playing on low priced stocks that rallied, following which market breadth stayed positive, as advancers outpaced decliners in the ratio of 31:17. The impetus behind the week’s performance was down as revealed by the Money Flow Index reading 47.33bps, down from 52.63bps in the previous week.

The week’s trading pattern showed that accumulation is still ongoing, ahead of the 2019 full-year earnings reporting season expected in the 2020Q1, with the hope of markup in dividend-paying stocks with high yields and strong earnings capacity underway. Also, the Investdata Sentiment Report for the week revealed a positive strong demand, with ‘buy’ volume at 78%, and ‘sell’ position of 22%, on a transaction volume index of 0.42.

NSEASI Weekly Time Frame

The mixed and positive sentiment behind the recent trading pattern of the NSE Index revealed an increased number of day traders and at the same time indicates that recovery is underway, as index action double bottom formation supports reversal, which is a function of market forces.

It will also depend on players’ taking advantage of low prices to position for full-year earnings reporting season as the economy is expected to sustain its recovery moves as liquidity to drive expansion in the system is available. The daily and weekly candlestick patterns signal short-term reversal ahead of year-end window dressing by fund managers and quoted companies.

On a weekly time frame, MACD has remained bullish as the composite NSE index sustained up and down movement that signals the possibility of recovery as demand for stocks continues to look up in the midst of selloffs.

In both the time frame, the NSE benchmark index is trading below 20 and 50-Day Moving Average as it tested a new 52 weeks low on low traded volume. The Relative Strength Index read 35.02, indicating relative strength, despite being in the oversold region. However, money flow is reading 47.33 points and looking down on the weekly chart.

Mixed Sectoral Indices

The week’s sectorial performance indexes were bullish, except for the NSE Industrial Goods and Banking, which closed 0.31% and 0.26% in the red respectively, while the NSE Consumer Goods Index led the advancers, after gaining 4.76%. The NSE Insurance index grabbed 1.42%, followed by the NSE Oil/Gas that rose 0.71%.

Market activity in terms of volume and value for the week were down by 46.38% and 54% respectively, as stockbrokers crossed 735.7m shares worth N7.13bn, as against the previous week’s 1.38bn units valued at N15.5bn. Volume was driven mainly by trades in Access Bank, Law Union, and Zenith Bank.

Also on Friday, Dangote Cement announced plans to buy back up to 10% of its shares in issue over a 12-month period (READ MORE). It, therefore, becomes the second company on the Nigerian Stock Exchange to announce a planned buy-back, exactly 10 years after Custodian Allied Insurance repurchased 5% shares in issue in 2009, becoming the first in the history of the NSE, today the company’s share price and performance are outstanding in its sector and industry.

Nahco and AG Leventis were the best-performing stocks, topping the advancers’ chart, after gaining 12.31% and 10.30% respectively, to close at N2.40 and N0.55 per share on the low price attraction and repositioning of Nahco’s operations. There is also the for AG Leventis, as its core investor seeks to buy-out the minority shareholder at 0.59 kobo per share and thereafter delist from the bourse. It was for this reason that the NSE placed the company on full suspension preparatory to being delisted. On the flip side, May and Baker and Cornerstone Insurance lost 9.81% and 9.51% respectively, closing at N1.93 and N0.38, on profit-taking.

Market Outlook

Being the week that ushers in 2020, we expect mixed performance to persist, in expected positive macroeconomic indices and continued positioning for new year expectations by market players. This is just as more liquidity finds its way to high dividend yield stocks with sound fundamentals, which will also be based on the seemingly positive outlook for the domestic economy, despite what the rating agencies are saying.

Discerning investors, nonetheless, should take advantage of the current low stocks valuation to position for medium to long-term. It is noteworthy that the market is selling at a discount and therefore offers high upside potential.

We would, however, not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With a dividend yield of major blue-chips continuing to look attractive in recent weeks, we expect speculative trading to shape the market’s direction, despite the seeming mixed outlook.

Once again, we appreciate all that made Invest 2020 Traders and Investors Summit a success. The home study pack is available. To grab your pack, Send Yes or Stock to 08028164085, 08032055467, 08111811223 now.



Ambrose Omordion

CRO|Investdata Consulting Ltd
info@investdataonline.com
info@investdata.com.ng
ambrose.o@investdataonline.com
ambroseconsultants@yahoo.com
Tel: 08028164085, 08032055467
https://investdata.com.ng/2019/12/with-enhanced-liquidity-low-stock-valuation-investors-position-for-medium-long-term/#more