Foreign investors are currently dumping their shares on the Nigerian Stock Exchange, following reports of bomb attacks in some parts of the country.  Sources close to the Exchange revealed yesterday that the foreign investors who begun to return to the market after the April elections started offloading their shares on Friday, a day after the bomb attack on the police Headquarters in Abuja.

The Punch, p.19: http://punchng.com/Articl.aspx?theartic=Art2011062213182937

Gains of bombocracy in a democracy

Please let us continue to intercede and pray for the economy of our great nation., its our duty if we dont nobody else will do that for us.

It is well.

one question here

do the nigerian population buy lots of stocks at the NSE, cus i don`t hear lots about it

vladimiros:

one question here

do the nigerian population buy lots of stocks at the NSE, cus i don`t hear lots about it

Not sure a lot of people buy shares in Nigeria

But from my recollection, my grandma bought a lot of shares in different companies that paid dividends into her old age.
Substantial numbers of the population don't see or know the values of shares or what it entails

no big deal. this is only a temporary reaction by the market to security fears. it happens everywhere; ie after 9/11 and 7/7. they would return in their droves once the situation is brought under control.

and for potential investors now is the time to pick up those shares as they are at cut bottom prices.

I pity dat country called nigeria.

I pity dat country called nigeria

ever heard of "blessing in disguise"

these would make some stocks drop hopefully meaning GO AND BUY

when they rise you sell them

NO WONDER THE THING JUST DEY DROP! Just imagine what these Boko Haram Idiots have cost me! I have 8,200 units of shares in First bank which was valued at N14/unit as at the beginning of this month and contemplated selling 6000units to use part of the money and pay my house rent and solve some personal problems. I consulted my stock broker and she told me to tender my certificates which i did last two weeks. Suddenly the value started going down from N14 to N13.20 then to N12, i was thinking it was because of the inflation which Sanusi talked about. The value then climbed to 13.forty-somethin as at the beginning of last week and i was gearing myself up to sell only for it to come crashing down to N11 over the weekend till presently. Now if i sell, i would be having a mere N66,000 wey no even reach my rent. GOD PUNISH BOKO HARAM FOR ME!! AMEN!!!

No shaking.

No shaking.

No shaking.

saibuhari:

No shaking.

Your profile name was what the hoodlums that killed those corpers in Bauchi were chanting during their rampage. (no offense)

Yes !!! This is what the Jonathan has to offer Nigerians. Insecurity of the highest order.

leyom234:

Yes !!! This is what the [b]Jonathan [/b]has to offer Nigerians. Insecurity of the highest order.

you mean PDP.

that is what some people VOTED for!!!

Jona-bomb

No Big deal. Bomb Explosion's hit almost every corner of the Globe. USA, UK etc. and Investors will not dump NYSE or
LSE. It's the usual reaction of Investors anyway, security for investment. But watch out the next day you will notice the normal rush of the Foreign investors with their Gypsy temporary workers heading to Warri and PH.
Noting de happen!!.

I dont know why Nigerians will rather lie to themselves than face the facts.
Bombs have been going off in Nigeria for a while now.
There have been kidnapings all over.
Election violence.
Religious and ethnic violence.
And you think one more bomb will make a huge difference.
As far as foreign investors are concerned Nigeria is threated as a war zone/ failed state like Somalia.

The thruth behind the recent slide in NSE is that u have a CBN governor who has gone rogue.
Read below.

By Obinna Chima
22 Jun 2011
Views: 1,742

Font Size: a / A
b2262011-snusi-lamido.jpg - b2262011-snusi-lamido.jpg

CBN Governor, Sanusi Lamido Sanusi

The liquidation threat by the Central Bank of Nigeria (CBN) on the rescued bank has continued to affect the prices of banks shares on the Nigerian Stock Exchange (NSE).

Even the ‘healthy’ banks were most hit by the development as THISDAY findings showed the most banks’ share price have recorded a downswing out of a total of 15 trading sessions observed on the Nigerian bourse.

For instance, the share price of First Bank of Nigeria Plc, slipped by 11.13 per cent to N11.97 per share Tuesday, from N13.47 per share as at closing bell on June 1. In the same vein, while the share price of First City Monument Bank Plc fell by 7.2 per cent from N7.76 per share on June 1, to N7.20 per share Tuesday, GTBank dropped by 7.2 per cent to N15.10 per share  , from N16.28 per share on June 1.

Similarly, whereas Access Bank’s share price also slumped by 8.2 per cent to N7.09 per share , from N7.72 per share on the first trading session of the second quarter, Skye Bank also declined to N8 per share yesterday, from N8.27 per share on June 1.

Most of the rescued banks are working assiduously towards meeting the September 30 deadline recapitalisation deadline and the development had raised tension in the system.

Due to the slide recorded by the banking industry which largely determines the direction of the market, the NSE’s bearish situation continued Tuesday as the NSE All Share Index fell to 24,889.74 basis points while the total market capitalisation closed at N7.95 trillion. The rescued banks were not left out as their share price also depreciated.

Meanwhile, rates at the Nigerian interbank market dropped yesterday following the injection of funds from the Federation Accounts Allocation Committee (FAAC). The rates at the interbank market, which attained its highest position this year due to the tightness in the system, reduced as a result of yesterday’s inflow.

Specifically, the Overnight tenor fell to 11.46 per cent, from 13.50 per cent, just as the 7-day tenor dropped to 12.17 per cent Tuesday, from 13.96 per cent on Monday.

http://www.thisdaylive.com/articles/prices-in-free-fall-as-apathy-hits-bank-shares/93659/

Not just the foreigners but also Nigerians. If Police H/q is not safe, then where is safe?

I bot skye bank shares in 2008 but was capitalised only once with just #1200 dvdnd since then! Now I want to decapitulate the share, what shuld I say when I get to their bank?

let us pray for those bomber to come out and confess,

pls remember them in ur prayer, God prevail on their heart to stop this treat.

Pls remember our president in prayer in order to continue his good job, because he is a honest man who does not want trouble from anywhere.

can somebody say amen

mkpologwu:

I bot skye bank shares in 2008 but was capitalised only once with just #1200 dvdnd since then! Now I want to decapitulate the share, what shuld I say when I get to their bank?

You need a stock broker that will help open A CSCS account. May be the bank can help you with one. Also you can get the one from this list, but be careful some of them are either on the run or suspended.

https://www.nairaland.com/nigeria/topic-73940.0.html

RoadStar:

The thruth behind the recent slide in NSE is that u have a CBN governor who has gone rogue.
Read below.
http://www.thisdaylive.com/articles/prices-in-free-fall-as-apathy-hits-bank-shares/93659/

I think u have a point

Events like this happen everywhere, when d earthquake happened in japan investors dumped their stocks, so its normal but in naija, its handmade by folks like our clueless sanusi and jonathan.

Pls,which part of the world is nigeria?i ve not herd of the name before.

jydebiz:

Please let us continue to intercede and pray for the economy of our great nation., its our duty if we dont nobody else will do that for us.

It is well.

Your God must be asleep or how else do you explain all the unanswered prayers for Nigeria over the last 50 years. Wake up and smell the coffee!
For your information, "Great", Nigeria is not. Let's stop fooling ourselves. We have a long way to go and we'll not make any progress by sugarcoating things.

I mean, look at small Ghana for F*uck sake!

Top 100 Universities in Africa -

Ghana # 16 (University of Ghana)
Nigeria # 30 (University of Ilorin)

List Of World Failed States ( the smaller the number the worse - Somali is #1 on the list just so you know how close we are to sh|t land)

Nigeria #14

Ghana is not even on the top 100 list! they are #115 out of 177 countries.

We are only great at talking of how more superior Nigeria is to the other African countries while they are all leaving us behind.

@meandsum , u just hit the point. Nigeria is a big fool n does not deserve any respect from any other nation.

That portends a bad omen for Nigeria.

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