₦airaland Forum

Investdata Weekly Sentiment Report

NSEASI buy 11% sell 89% MFI 18.23
Access buy � MFI 67.58
Afrprud buy 0% volume index 1.21 MFI 21.57
Aiico buy 29% sell 71% MFI 64.68
Berger buy � volume index 7.53 MFI 10.31
Ccnn buy 0% MFI 4.79
Chams buy � MFI 87.51
CIleasing buy 0% MFI 3.17
Custodian buy � volume index 1.75 MFI 50.00
Cutix buy 0% volume index 0.76 MFI 15.01
Dangcem buy 17% sell 83% MFI 60.47
Dangflour buy 0% MFI 60.52
Dangsugar buy 0% volume index 1.18 MFI 16.29
Eterna buy 0% MFI 9.61
Eterna buy � volume index 3.36 MFI 17.08
Fbnh buy 50% sell 50% MFI 39.38
Fcmb buy � MFI 28.68
Fidelity buy 0% MFI 35.59
Fmn buy 50% sell 50% volume index 1.22 MFI 12.99
FO buy � MFI 64.24
Glaxo buy � volume index 0.74 MFI 27.94
GT buy � volume index 1.68 MFI 38.71
Jaiz buy 0% MFI 31.29
Japaul buy 25% sell 75% MFI 68.09
Lasaco buy � MFI 78.76
Linkass buy � MFI 21.77
Lvstk buy 0% MFI 35.24
M&B buy me � volume index 1.12 MFI 61.67
Mben buy � MFI 31.90
Mobil buy 0% MFI 47.27
Nahco buy 0% volume index 2.37 MFI 67.84
Nem buy � MFI 51.50
Nestle buy 0% MFI 54.19
Npf buy 0% MFI 23.47
Oando buy 71% sell 29% volume index 0.86 MFI 13.29
Presco buy 0% MFI 0.00
Royalex buy � MFI 24.83
Sovereins buy 0% MFI 41.05
Sterling buy 58% sell 42% MFI 82.68
Transcorp buy 33% sell 67% MFI 64.96
Uacp buy 52% sell 48% volume index 0.80 MFI 34.61
Uacn buy 0% MFI 54.31
Uba buy 29% sell 71% MFI 36.37
Ucap buy � volume index 1.12 MFI 20.80
Unilever buy 71% sell 29% MFI 38.14
Uniondac buy 0% MFI 22.14
Vitafoam buy � volume index 0.82 MFI 46.95
Wapco buy 0% MFI 26.65
Wapic buy 25% sell 75% volume index 5.76 MFI 69.05
Wema buy � MFI 55.17
Zenith buy 20% sell 80% volume index 0.98 MFI 20.69

https://investdataltd..com/2019/06/investdata-weekly-sentiment-report.html

BEFORE YOU BECOME A WIFE!

1. HAVE SOUND VISION FOR YOUR LIFE
You are more than a cook and baby factory. You are on a earth for a purpose. What is your vision, what is your mission? What is your reason for existence?

2. HAVE A SOURCE OF INCOME
If you have no job or business you are doing and you are looking for an ATM man to dump all your financial responsibility on, you will end up a leech, not a wife, a sucker, not a giver, a liability, not an asset, a burden not a burden bearer! Get a job!

3. TAKE CARE OF YOUR BODY
Some ladies are in their twenties and they look close to their graves, why? How many children have you had? Why are you not firm, smart, healthy and attractive? If you have health issues, darling, pray for healing before you get married. With faith you will be healed. If you eat junks, stop the trash and eat healthy food. Too much sugar, red meat, chocolates are not good for you. They are waiting to affect your body in future.

4. LEARN HOW TO ADDRESS A MAN
You don't talk to a man like your errand boy or primary school mate. You talk to him as your head with respect and honour. If you can't respect a man and regard him as the leader in your relationship, forget about marriage darling or you may end up divorced.

5. LEARN HOW TO COOK
See, men don't joke with their stomach. Learn to cook different types of food and soup. Routine food eventually becomes tasteless and uninviting. Men love adventure. Children love adventure. Cooking different types of soup/ food make your husband stay at home and have no need wandering into bukaterias, cafeterias, eateries etc where daughters of Jezebel may seduce and snatch him from you!

6. LEARN ABOUT SEX
Not by practicing for God's sake, you are not yet married. Few months/weeks to your wedding, learn about your sexual anatomy, sexuality, reproductive organs, genitals, etc. Be familiar with your body and prepare for quality sex IN MARRIAGE. I get too many chats from naive, ignorant brides and it gets to me. Some even stay off sex for weeks or months on end after wedding. What's the meaning of that nonsense? If you know you will masturbate or fornicate if you will learn about your sexuality then wait at least 2 weeks to wedding and read! Take a mirror and look at your vagina, labia minora, labia majora, clitoris, vagina entrance, some say if you look close enough you will see your hymen. Each part has its functions in marriage. Get EVERY WOMAN and read. It will help you understand your body better as a woman.

7. BE A PRAYER MACHINE!
A woman who cannot pray is not ready for marriage! Your husband has a great destiny to fulfil, you have a great destiny to fulfil, your children have great destiny to fulfil and the devil won't fold his arms and watch protect your family by soaking them in prayer! If you are a lazy spiritual bum as a single lady, your prayer life will end up a sorry case after marriage!

Before you become a wife, prepare well so you do not end up a failure in your husbands house. May the Lord grant you understanding.

Thanks for reading. God bless you. Cheers!
© Seun Oladele, 2019.

MEN, YOU ARE SO AWESOME!

Everyday, I watch my husband get up early from the bed, bath our sons, go to work, get busy all day, come home and still smile and make us happy, check our welfare and spend his hard earned money on the family.

I watch with admiration as he train the boys, instill morals and discipline into them and still create time to talk to mum and keep her company. He us a father per excellence!

We have lots of fathers like that in this group too.

Dear young men, marriage is not hard at all, life is not hard. Our mentality and wrong information digested from the wrong source makes marriage hard, makes life hard!

You can be the best husband in the world to your wife if you really want to and honestly believe you can.

You can be the best dad to your children!

You can be a role model of a father and a husband others wish to emulate.

You can be the best you can be!

If only you will believe!

I dedicate this article to all daddies and young men in the house, your role as a husband and father is equal to none!

We look up to you to lead us, guide us, correct us, provide for us and support us to be all God wants us to be.

No woman is complete without a man.

No child is complete without a father!

We need you.

We love you.

You are our joy and pride!

You are awesome!!!

HAPPY FATHER'S DAY TO YOU!
© Seun Oladele, 2019.

Investdata Daily Sentiment Report as at June 14th, 2019

NSEASI buy 5% sell 95% volume index 0.84 MFI 54.89
Access buy 50% sell 50% MFI 52.09
Afrprud buy � volume index 2.04 MFI 31.21
Aiico buy 0% MFI 29.31
Chams buy 50% sell 50% volume index 0.75 MFI 60.38
Dangcem buy 0% volume index 1.39 MFI 68.52
Dangsugar buy 0% volume index 1.25 MFI 22.81
Fbnh buy � MFI 46.81
Fcmb buy � MFI 75.98
Fidelity buy � volume index 0.98 MFI 46.62
FO buy � volume index 1.52 MFI 58.36
M&B buy � volume index 0.81 MFI 82.24
Nahco buy 0% volume index 0.95 MFI 3.67
Npf buy 0% volume index 2.02 MFI 15.56
Oando buy � volume index 0.74 MFI 15.32
Sterling buy � MFI 44.26
Transcorp buy 0% MFI 42.24
Uacn buy 0% MFI 31.79
Uba buy 33% sell 67% volume index 1.05 MFI 22.77
Ucap buy 0% MFI 45.58
Unilever buy 5% sell 95% MFI 69.32
Wapic buy 0% volume index 0.79 MFI 77.97
Wema buy � MFI 23.68
Zenith buy � volume index 1.43 MFI 39.06

https://investdataltd..com/2019/06/investdata-daily-sentiment-report-as-at_14.html

Oando Plc: Lagos FHC Adjourns Hearing In Wale Tinubu, Boyo, SEC Suit


Justice Mojisola Olatoregun of the Federal High Court in Lagos, on Thursday, adjourned until June 24, 2019, the suit instituted by Jubril Adewale Tinubu, Group Chief Executive of Oando Plc, and his Deputy Group Chief Executive, Omamofe Boyo, against the Securities and Exchange Commission (SEC).

In a statement to the Nigerian Stock Exchange (NSE) by Ayotola Jagun, its Company Secretary, Oando reported the court as directing that the preliminary objection of the respondent, the SEC, and the substantive application for enforcement of fundamental rights be taken together at the next adjourned date.

Meanwhile, the court further ruled that all parties involved should maintain the status quo, pending the determination of the motion.
“Pursuant to the court order, Oando’s management team and Board of Directors as at the date of this release (save for the two (2) non-executive directors departure announced on the 7th of June 2019) remain unchanged pending the outcome of the hearing of the various applications filed by the parties,” the statement added.

https://investdata.com.ng/2019/06/oando-plc-lagos-fhc-adjourns-hearing-in-wale-tinubu-boyo-sec-suit/

Investdata Weekly Sentiment Report as at June 10, 2019

NSEASI buy 31% sell 69% MFI 17.81
Access buy 57% sell 43% MFI 63.25
Afrprud buy 0% volume index 1.03 MFI 19.97
Aiico buy � MFI 57.54
Berger buy � volume index 3.30 MFI 18.47
Caverton buy 0% MFI 87.59
Chams buy � MFI 87.51
CIleasing buy 0% MFI 8.22
Conoil buy � volume index 2.27 MFI 52.73
Custodian buy � MFI 26.65
Dangcem buy 45% sell 55% MFI 58.77
Dangflour buy 0% MFI 56.81
Dangsugar buy 0% MFI 16.62
Eti buy 0% MFI 21.26
Fbnh buy 33% sell 67% MFI 46.16
Fcmb buy 63% sell 38% volume index 1.34 MFI 24.02
Fidelity buy 63% sell 37% MFI 28.48
Fmn buy 50% sell 50% volume index 2.09 MFI 12.75
FO buy 60% sell 40% MFI 61.52
Glaxo buy 0% volume index 1.42 MFI 21.95
GT buy 4% sell 96% volume index 1.56 MFI 36.88
Honyflour buy 0% MFI 35.29
Jaiz buy 50% sell 50% volume index 0.92 MFI 34.70
Japaul buy 0% MFI 65.60
JBerger buy � volume index 0.82 MFI 52.68
Lasaco buy � MFI 79.33
Lvstk buy � MFI 31.84
Mansard buy 0% MFI 73.63
M&B buy 0% MFI 59.58
Mben buy 0% MFI 26.98
Mobil buy 0% volume index 9.56 MFI 47.32
Nascon buy 3% sell 97% volume index 0.85 MFI 40.96
Nem buy 0% MFI 49.94
Nestle buy 0% MFI 55.41
Npf buy � MFI 35.28
Oando buy 67% sell 33% volume index 2.46 MFI 13.26
Pz buy 0% volume index 1.15 MFI 12.02
Regalins buy 0% MFI 36.47
Seplat buy � volume index 0.97 MFI 53.63
Stanbic buy � MFI 33.51
Sterling buy � MFI 84.63
Total buy 0% MFI 17.69
Transcorp buy 75% sell 25% MFI 61.75
Uacn buy 14% sell 86% volume index 2.48 MFI 54.90
Uba buy 44% sell 56% volume index 1.03 MFI 34.44
Ubn buy � MFI 90.46
Ucap buy 44% sell 56% volume index 0.98 MFI 13.93
Unilever buy 98% sell 2% MFI 36.64
Vitafoam buy 0% MFI 51.13
Wapco buy 0% MFI 35.62
Wapic buy 0% volume index 1.21 MFI 37.22
Wema buy 33% sell 67% MFI 55.55
Zenith buy 57% sell 43% MFI 32.80

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When a stock you own pays dividends, you have two options: pocket the cash and use it as you would any other income, or reinvest it by purchasing additional shares of stock. Though having a little extra cash on hand may be appealing, reinvesting your dividends can really pay off in the long run especially when the market is down.

So back to the Basics, Companies pay dividends to their shareholders to reward them for their investments and continued support. Dividends are taken from a company's retained earnings, which is the amount of cumulative profits that remains after accounting for all expenses and any reinvestment in the company's expansion. Though dividends can be issued in shares of stock, they are commonly issued as a cash payment.

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CBN Injects $210m Into Forex Market

The Central Bank of Nigeria (CBN) says revenue flows into the federation account stood at N2.309tr in the first quarter of 2019, a 30.5% drop when compared to the projection in the national budget for the period.
The amount was also 4.2% lower than N3.321tr recorded in the corresponding period of 2018, a situation blamed on “the shortfall in receipts from both oil and non-oil revenue components in the review quarter.”

According to the CBN’s Economic Report for the period, gross oil receipt stood at N1.413tr, representing 61.2% of total revenue, which was below both the proportionate quarterly budget estimate and the receipts in the preceding quarter by 26.4% and 3.5%, respectively.

“The decline in oil revenue relative to the proportionate budget estimate was due to shortfalls in crude oil production and exports, arising from maintenance operations at the various NNPC terminals.”
Non-oil revenue, in the period under review, fell below that of the prior quarter at N896.04bn or 38.8% of the total from N1.4tr or 36% of the total, just as it fell below the level in the preceding quarter by 5.4%.

“The lower nonoil revenue relative to the proportionate quarterly budget estimate was due to shortfalls in receipt from Federal Government Independent Revenue and Corporate Tax,” the report added.

After the statutory deductions and transfers of N435.51bn and N395.81bn, respectively, a net sum of N1.478tr was retained in the Federation Account, with the Federal Government receiving N709.03bn, while the State and Local governments getting N359.63bn and N277.26bn,

Federal Government retained an estimated N798.82bn, below the proportionate quarterly budget estimate and the receipts in the preceding quarter by 57.7% and 28.8%, respectively.

Estimated Federal Government expenditure for the review period at N1.197tr was below the proportionate quarterly budget estimate of N2.376tr by 49.6% and the level in the preceding quarter by 34.8%. Recurrent expenditure, capital expenditure, and transfers constituted 71.4%, 23% and 5.6% of the total expenditure, respectively.

A breakdown of the recurrent expenditure showed that non-debt obligation was 61%, while debt service payments accounted for 39% of the total, following which the fiscal operations of the Federal Government resulted in an estimated deficit of N398.22bn, compared with the proportionate quarterly budget deficit of N488.62bn.

https://investdata.com.ng/2019/06/cbn-injects-210m-into-forex-market/#more

NGSE Downtrend Continues, But Investors Project Bargain Hunting On Low Valuation

Market Update for June 11
It was another bearish session on Tuesday as the composite All-Share index of the Nigerian Stock Exchange (NSE) continued its downtrend for the seventh consecutive session on negative sentiments. Selloffs and profit taking were seen in high cap stocks like Dangote Cement, Nigerian Breweries, MTN Nigeria, Zenith Bank, and 11 Plc, thereby further dragging down the market as the government settles down gradually for the task of rebuilding the economy.

On Tuesday, Nigerians watched as the National Assembly was inaugurated, followed by the election of principal officers, ahead of the expected presentation of the list of cabinet members for screening and approval by the legislators in the coming days and weeks. The quality of cabinet members will show the government’s direction and whether we would see effective economic reform policies that will propel national productivity and create jobs.

The flow of funds into the equity market has been slow due to the dwindling confidence level as investors look the way of other investment windows, especially the risk-free assets in the money and fixed income markets. The weak economic fundamentals have continued to militate against productivity and businesses, a situation that has made neighbouring Ghana take over as Africa’s foremost destination for Foreign Direct Investment.

The benchmark NSEASI started the day trading on the downside and sustained it into the early afternoon before slightly retracing up, closing the day at 30,099.83 basis points, after the index had touched intraday low of 30,055.56bps, from its high of 30,322.19bps which was the opening figure.

Market technicals for the day were negative as volume traded was lower than the previous day in the midst of negative market breadth and high selling pressure, as revealed by Investdata’s Daily Sentiment Report showing ‘sell’ volume of 83% and ‘buy’ position of just 17% of the total daily transaction volume index of 0.80.
The impetus behind the day’s performance was relatively strong but down, reflecting the continued down market, with Money Flow Index at 60.40points, from previous day’s 66.14bps, indicating selloffs in some positions.

Index and Market Cap
At the end of Tuesday’s trading, the NSE All-Share Index lost 222.26bps, closing at 30,099.83bps, after opening at 30,322.19bps representing 0.73% decline, similarly. Market capitalization dropped by N97.93bn to close at N13.26tr, from its opening value of N13.36tr which also represented 0.73% depreciation in value.

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The day’s downturn impacted negatively on the Year-to-Date negative position, which increased to 3.53%, just as market capitalization gain dropped to N1.45tr, or 14.49%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
Again, all the sectoral indexes were in red, except for the NSE Insurance which closed in green by 0.47%, while the NSE industrial led the decliners after shedding 1.10%, followed by oil/gas with 0.85%, while banking and Consumer goods followed with 0.20% and 0.02% respectively.

Market breadth was negative as decliners outnumbered advancers in the ratio of 15:10, just as market activities were mixed with volume traded down by 5.64% to 233.45m shares from 247.39m units, while value went up by 1.04% to N3.5bn from N3.48bn. The day’s volume was driven by financial services and ICT stocks like Wapic Insurance Zenith Bank, Courtville, Access Bank and Sterling Bank.

Unilever and ABC Transport were the best-performing stocks as they topped the advancers’ table with 8.22% and 7.14% respectively to close at N30.95 and N0.30 per share respectively on low price attraction and market forces. On the flip side, Sovereign Trust Insurance and Japual Oil also lost 8.12% and 7.41% respectively, closing at N0.23 and N0.25, on profit-taking.

Market Outlook
We expect mixed performance and downtrend may continue until bargain hunters hit the market again, as discerning investors take advantage of low valuation to rebalance their portfolio ahead of March year-end numbers and second half interim dividend stocks.
They may also take into consideration the expected economic reforms as the new cabinet are set to start running and the plans of Central Bank of Nigeria (CBN) to reduce banks’ participation in government securities while boosting private sector lending to drive economic activities and investment.

Investors look to government’s policy direction as the market faced low liquidity problems in pre and post-inauguration season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.

However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals..

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/2019/06/ngse-downtrend-continues-but-investors-project-bargain-hunting-on-low-valuation/

CBN Denies Making Any Change In Nigeria’s Forex Structure

The management of the Central Bank of Nigeria (CBN), on Wednesday morning, took to its official Twitter handle (@cenbank) to deny reports that it had systematically devalued the Naira.
Without being explicit, the apex bank tweeted: “There has been NO change in Nigeria’s exchange rate structure.”

In a report titled: “Nigeria’s Central Bank Signals Weaker Official Naira,” Bloomberg noted the bank’s plan to allow the naira “weaken past its official rate as it gradually unwinds its regime of multiple exchange rates, data on its website shows.”

The report noted, for example, that the CBN stopped publishing the fixed naira exchange rate on its website, which was N305/$, to allow the rate become “market-determined,” used to ensure that some traders including, fuel importers, got cheap dollars.
The central bank, the report continued, is in talks with other agencies to move to a single rate for the nation’s currency, quoting Yewande Sadiku, the head of the Nigerian Investment Promotion Commission, as saying last month.

“Putting that on the website means the central bank is gradually moving towards a single exchange-rate window. It is making the exchange rate more liquid to attract more inflows,” Kunle Ezun, a currency analyst at Ecobank Transnational Inc in Lagos, told the reporter by telephone.

The report also noted the Nigerian Customs Service as telling importers on Monday to pay for duties at a weaker rate of N326/$ from N306/$, citing a directive from CBN, according to Jonathan Nicol, President of Shippers Association of Lagos State.

https://investdata.com.ng/2019/06/cbn-denies-making-any-change-in-nigerias-forex-structure/

Investdata Daily Sentiment Report as at June 12, 2019

NSEASI buy 17% sell 83% volume index 0.80 MFI 60.40
Access buy � volume index 1.05 MFI 49.71
Chams buy � MFI 57.22
Cutix buy 0% MFI 26.74
Fbnh buy � MFI 42.91
Fidelity buy 33% sell 67% MFI 49.32
Fmn buy 50% sell 50% volume index 1.47 MFI 12.15
GT buy � MFI 31.09
Jaiz buy � MFI 28.18
Mobil buy 0% MFI 32.29
Nahco buy 0% volume index 1.25 MFI 2.51
Oando buy 50% sell 50% MFI 15.10
Sterling buy � volume index 2.29 MFI 42.12
Transcorp buy 0% MFI 42.25
Uba buy 0% MFI 23.39
Ucap buy 0% volume index 1.00 MFI 45.03
Uniondac buy 0% MFI 87.20
Wapic buy � volume index 12.41 MFI 76.95
Wema buy 0% MFI 27.12
Zenith buy 33% sell 67% volume index 1.21 MFI 41.11

https://investdataltd..com/2019/06/investdata-daily-sentiment-report-as-at_12.html?m=1

How Nigeria Can Achieve Double-digit GDP Growth, By Chike-obi, Ex-AMCON Boss

For Nigeria’s economy to achieve the much desired double-digit growth, the Federal Government must eliminate subsidies in fuel, foreign exchange, and electricity, while paying greater attention to security and infrastructure, according to Mustafa Chike-Obi, immediate past chief executive of the Asset Management Corporation of Nigeria (AMCON).
Speaking in Lagos on Monday, at an agenda-setting forum as the second four-year term of President Muhammadu Buhari begins in earnest, Chike-Obi lamented that these forms of subsidies were hindering other sectors that need urgent attention, besides slowing down hampering GDP.

Addressing members of the Finance Correspondents Association of Nigeria (FICAN) on theme,
“Repositioning the Nigerian Economy for sustainable growth,” Chike-Obi, Executive Vice Chairman, Alpha African Advisory, lamented that rich Nigerians benefit more from fuel subsidy, just as removing electricity subsidy will attract significant investments to the power sector and unlock other opportunities.
He wondered why the Federal Government should continue subsidizing Premium Motor Spirit (petrol), spending all of N1.2tr per year, apart from some other hidden loses no one is allowed to see.
According to him, “who gets the fuel subsidy? …the rich people with six cars are those benefitting from fuel subsidy.

“The average rich person in Ikoyi is getting approximately 100 times a year fuel subsidy than the person in Shomolu in Lagos,” he stressed, adding that, “everybody deserves to have electricity but you charge electricity based on those who needed it the most in the market price. Most people that use generator pay N160/Kwh and pays comfortably.

“If you tell these power companies that they can sell power at N160/kwh, they will make sure that more power will be generated (and distributed).”
He also expressed concern about Nigeria’s rising debt service ratio, which according to him could be about 70% of annual revenue, warning: “It is almost a guarantee that Nigeria is going to be talking about debt rescheduling soon and we need to start putting our house in order ahead of that.”
Chike-Obi stressed the need for coherent and forward-looking policies to address the myriad of problems confronting Nigeria.

“We are badly in need of good leadership… we need a leader that would map out the strategy and roadmap for economic growth in this country.
“There is a need for coherent monetary and fiscal policies. For me, the position of a CBN Governor should be a cabinet position and the CBN Governor should always be meeting with the Minister of Finance and the Minister of Budget and Planning every two weeks,” he added.
According to the former AMCON CEO, revenue mobilization is Nigeria’s biggest problem.
In addition, he proposed the creation of a Ministry of Infrastructure.

https://investdata.com.ng/2019/06/how-nigeria-can-achieve-double-digit-gdp-growth-by-chike-obi-ex-amcon-boss/

Breaking! SEC Suspends Oando Plc AGM

Further to its appointment of an Interim Management Committee to oversee Oando Plc and to organise an Extraordinary General Meeting at which a new management will be appointed for the company, the Securities & Exchange Commission (SEC), on Monday ordered a suspension of the annual general meeting fixed for Tuesday, June 11, 2019.

The commission said the suspension “till further notice” is “to allow the parties maintain status quo.”
The statement said it is also “further to the Ex-parte Order of the Federal High Court, Ikoyi Lagos in Suit No: FHC/L/CS/910/19 between Jubril Adewale Tinubu & Anor V Securities & Exchange Commission & Anor.
Management of the commission promised to “update the public on the outcome of the ongoing litigation.”

https://investdata.com.ng/2019/06/breaking-sec-suspends-oando-plc-agm/

Mixed Trading On NGSE, As Low Valuation May Lure Investors Ahead Of March Results

Market Update for June 10
Stocks opened the week lower Monday as the Nigerian Stock Exchange (NSE) composite All-Share index had a mixed session, extending the losing streak to six consecutive days of down market on a ‘sell’ pressure.
The gloomy state of the market reflects the weak economy and dwindling confidence in the whole system following from the fact that the government has consistently failed to champion a new course expected to stimulate the economy with policies and leadership style. This has over the last four years manifested in low productivity, which reflected in the latest decline in GDP to 2.01% in the first quarter of 2019, from 2.34% in Q4 2018. No wonder, Mustafa Chike-Obi, former Managing Director of the Asset Management Corporation of Nigeria (AMCON) and Goldman Sachs executive told newsmen in Lagos on Monday that the Nigerian economy has the capacity to grow at double digits with the right policies and government attitude (READ MORE).

At a time one will expect that government will hit the ground running in this its second four-year term, the Muhammadu Buhari administration continues to delay formation of a cabinet. One would have expected a formidable team of technocrats, not political jobbers, so as to effectively map out strategies and draw a roadmap that will drive productivity for economic growth in conjunction with the monetary policy to pull the economy out of its sluggish momentum to the path of sustainable growth. The desire of the Central Bank of Nigeria (CBN) to stimulate growth through interventions needs a serious commitment from the government to turnaround the economy in no distance time.

The NSE All-Share Index opened on the downside and followed through till the afternoon session, before retracing back marginally after touching intraday low of 30,306.76 basis points, from its high of 30,459.43bps.
Monday’s market technicals were negative in the midst of strong selling pressure, as revealed by Investdata’s Daily Sentiment Report showing ‘sell’ position of 90% and ‘buy’ volume of just 10% of the total daily transaction volume index of 0.84.

The momentum behind the day’s performance was nonetheless strong and flat, despite the down market, with Money Flow Index at 66.14points, from previous day’s 65.44bps, indicating that funds are still entering some stocks, irrespective of selloffs in some positions.

Index and Market Cap
At the end of the day trading the NSEASI shed 109.94bps, closing at 30,322.19bps, after opening at 30,432.13bps, representing 0.36% drop, just as market capitalization shed N48.42bn to close at N13.36tr, from its opening value of N13.4tr which also represented 0.36% value loss.


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The day’s downturn was driven by selloffs and profit booking in stocks like MTN Nigeria, Zenith Bank, Unilever, CCNN, ETI, Dangote Flour, Oando, Wema Bank and Transcorp, among others. This impacted negatively on the Year-to-Date negative position, which rose to 3.53%, just as market capitalization gain stood at N1.45 trillion, or 14.49%, from the year’s opening level of N11.72tr.

Bearish Sector Indices
The sectoral indexes were down, except for the NSE Insurance which closed marginally up by 0.02%, while the NSE Industrial led the losers after shedding 2.35%, followed by Consumer Goods with 0.62%, while Oil/Gas and Banking followed with 0.21% and 0.10% respectively. Market breadth was negative as decliners outnumbered advancers in the ratio of 20:15.

Market activities were down in volume and value traded by 19.04% and 10.75% respectively to 247.39m shares worth N3.48bn, as against previous day’s 305.56m units valued at N3.9bn. The day’s volume was driven by financial services stocks like Zenith Bank, Guaranty Trust Bank, Ecobank Transnational Incorporated, Custodian Investment, and FBNH.
UACN Property and Consolidated Hallmark Insurance were the best-performing stocks as they topped the advancers’ table with 10% gains each to close at N1.65 and N0.22 per share respectively on market forces. On the flip side, CCNN and Unity Bank also lost 10% each, closing at N13.50 and N0.63, on profit-taking, weak numbers, and negative retained earnings.

Market Outlook
We expect mixed performance and downtrend may continue until bargain hunters hit the market again, as discerning investors take advantage of low valuation to rebalance their portfolio ahead of March year-end numbers and second half interim dividend stocks.
They may also take into consideration the expected economic reforms as the new cabinet are set to start running and the plans of Central Bank of Nigeria (CBN) to reduce banks’ participation in government securities while boosting private sector lending to drive economic activities and investment.

Investors look to government’s policy direction as the market faced low liquidity problems in pre and post-inauguration season, vis-à-vis market and economic fundamentals.
The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.

The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.

However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals..

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/2019/06/mixed-trading-on-ngse-as-low-valuation-may-lure-investors-ahead-of-march-results/

Investdata Weekly Sentiment Report as at June 10, 2019

NSEASI buy 31% sell 69% MFI 17.81
Access buy 57% sell 43% MFI 63.25
Afrprud buy 0% volume index 1.03 MFI 19.97
Aiico buy � MFI 57.54
Berger buy � volume index 3.30 MFI 18.47
Caverton buy 0% MFI 87.59
Chams buy � MFI 87.51
CIleasing buy 0% MFI 8.22
Conoil buy � volume index 2.27 MFI 52.73
Custodian buy � MFI 26.65
Dangcem buy 45% sell 55% MFI 58.77
Dangflour buy 0% MFI 56.81
Dangsugar buy 0% MFI 16.62
Eti buy 0% MFI 21.26
Fbnh buy 33% sell 67% MFI 46.16
Fcmb buy 63% sell 38% volume index 1.34 MFI 24.02
Fidelity buy 63% sell 37% MFI 28.48
Fmn buy 50% sell 50% volume index 2.09 MFI 12.75
FO buy 60% sell 40% MFI 61.52
Glaxo buy 0% volume index 1.42 MFI 21.95
GT buy 4% sell 96% volume index 1.56 MFI 36.88
Honyflour buy 0% MFI 35.29
Jaiz buy 50% sell 50% volume index 0.92 MFI 34.70
Japaul buy 0% MFI 65.60
JBerger buy � volume index 0.82 MFI 52.68
Lasaco buy � MFI 79.33
Lvstk buy � MFI 31.84
Mansard buy 0% MFI 73.63
M&B buy 0% MFI 59.58
Mben buy 0% MFI 26.98
Mobil buy 0% volume index 9.56 MFI 47.32
Nascon buy 3% sell 97% volume index 0.85 MFI 40.96
Nem buy 0% MFI 49.94
Nestle buy 0% MFI 55.41
Npf buy � MFI 35.28
Oando buy 67% sell 33% volume index 2.46 MFI 13.26
Pz buy 0% volume index 1.15 MFI 12.02
Regalins buy 0% MFI 36.47
Seplat buy � volume index 0.97 MFI 53.63
Stanbic buy � MFI 33.51
Sterling buy � MFI 84.63
Total buy 0% MFI 17.69
Transcorp buy 75% sell 25% MFI 61.75
Uacn buy 14% sell 86% volume index 2.48 MFI 54.90
Uba buy 44% sell 56% volume index 1.03 MFI 34.44
Ubn buy � MFI 90.46
Ucap buy 44% sell 56% volume index 0.98 MFI 13.93
Unilever buy 98% sell 2% MFI 36.64
Vitafoam buy 0% MFI 51.13
Wapco buy 0% MFI 35.62
Wapic buy 0% volume index 1.21 MFI 37.22
Wema buy 33% sell 67% MFI 55.55
Zenith buy 57% sell 43% MFI 32.80

https://investdataltd..com/2019/06/investdata-weekly-sentiment-report-as.html

Is This a Misunderstanding?

Ambrose Here...

Take the crumbs from the soldier they will not die, take the bread from the children, they will live. Take dreams away from people and they will... Jim Rohn

When I first heard this statement, it really struck me especially in the aspect of investment.

Like investing, it is divided into 2 namely:

Long Term financial goals
Short-term financial goals

Long-term financial Goals is your financial goals for 3 years, 5 years, 10 years, 20 years or let me say your whole lifetime financial Goals.

Short term Financial goals: I called confidence in building goals. They are the goals you need to set and achieve immediately.

OK, Ambrose, I understand that long term financial goals is a lifetime journey, how can I get started with the short term financial goals?

What I am about to say is not new but it has been used by investors who know what they want in life. It has also been used for both short term and long term financial goals.

This is simply been a member of the BUYING and SELLING SELLING SIGNALS.

In this membership, you will be getting

1. Stock to buy on Short term
2. Stock to buy on long term
3. Sell alert for short term Stock.
4. Daily Market update to aid your buying and selling decisions
5. Earning tracking analytics
6. Weekly buying and selling alert
7. Once per week phone conversation for further advice.
8. So much more...

Don't leave your financial success to hope your future will never get better through passive or happy hope but through a conscious effort to plan. Don't follow the crowd. Subscribe now by calling 08028164085,08032055467.


Dedicated to your Financial Success
Ambrose Omordion

https://investdataltd..com/2019/06/is-this-misunderstanding.html

THE LAWS OF FINANCE

There are 2 types of Laws of finance:
1} LAW OF POVERTY.
2} LAW OF WEALTH.


1} LAW OF POVERTY: This law states that work alone or work under someone and remain poor for the rest of your life. 95% of people in the world are living under this law. The people under this law make use of their credentials, they have an ego, they seek for a job, they have someone called boss, they receive a salary which is a fixed amount.

S.A.L.A.R.Y
S= Small
A= Amount
L= Limiting
A= And
R= Restricting
Y= You

These people are called the working class. They always look for a job.

J.O.B
J= Just
O= Over
B= Broke


2} LAW OF WEALTH: This law states that work with a team or group of people and remain wealthy forever, it is just 5% of people in the world that are living under this law. The people under this law make use of their potentials, and they are called the thinking class, they think of what to offer to the society and in turn, make money. These people earn their money which is income and it is not a fixed amount. These people are called the thinking class.


The difference between these laws is that the people under the LAW OF POVERTY don't make use of opportunity.. why those under the LAW OF WEALTH make use of any opportunity that comes their way. The wealthy ones make use of ID Number and also Partnership, they have what is called big dreams but the poor don't have.

REMEMBER this TODAY
��������

Money does not respond to qualifications
Otherwise, the wealthiest people should have been Ph.D. holders.

Money does not respond to age Otherwise the world's oldest twins would have been the richest.

‍ It is not about your degree
It is all about what you do after the degree.

‍Have you noticed that the 1st class degree holders are not the Richest
Neither is the 3rd class degree holders the poorest.
There is more to being wealthy than education.

The most important thing is Mindset � and the next thing is a Commitment to self DISCIPLINE.

The only person holding your key to success is YOU.

The secrets to success is for you to be willing to pay the price but the challenge is that very few are ready and willing to pay the price to succeed.

While some are partying and gisting, others are learning, planning and earning.

Don't sit down and complain about where you are, it won't change anything.

If you must see changes, the person that must change is You.

Be assured... YOU HAVE ALL IT TAKES TO Succeed, learn to invest the little you have and get a mentor to teach you how to grow your money.

Be Wise.......... _*��


https://investdataltd..com/2019/06/the-laws-of-finance.html

Mixed Market, Amidst Possible Reversal As Investors Await New Cabinet, Budget Implementation

Market Update for the Week Ended June 7 and Outlook for June
It was three consecutive trading sessions of losses last week given the two-day public holiday declared to celebrate the Eid Mubarak, the end of the Islamic month of Ramadan when Muslims fast, pray and give arms.
This halted three consecutive weeks of bull transition that was driven by positive sentiments for heavyweight stocks like MTN Nigeria which was recently listed, while Dangote Cement appreciated, as investors positioned for its dividend payout. That of Nestle Nigeria rallied on the back of market forces.

The week also witnessed a return of liquidity hiccups after the market saw funds inflow with the MTN Nigeria listing. The dwindling investor confidence may not be unconnected with the face-off between the Securities Exchange Commission (SEC) and energy giant- Oando Plc, as investors wait to see how things play out. We will not also rule out the effects of the two court rulings that Mounir Gwarzo, suspended Director-General of the SEC, which are being appealed by the Independent Corrupt Practices Commission (ICPC).
Meanwhile, we see a seeming artificial price movement in the shares of Oando Plc, as if to show that all is well. Investors are unhappy that the company has shortchanged them for many years when it failed to pay a dividend while jerking executive pay. This is however not forgetting the effects of price adjustments in Dangote Cement, Forte Oil, Dangote Sugar, Julius Berger, BOC Gas, NEM Insurance, Law Union Insurance, and The Initiates, owing to the dividends declared by their directors during the period under review.

The ongoing market selloff is also a reaction to the continued unclear government economic policies, in addition, there is a gloomy global economic outlook as the trade dispute between the U.S and China takes another dimension, which the International Monetary Fund (IMF) warns could cut a sizeable chunk off the global economy (READ MORE). There are also uncertainties in the Eurozone ranging from Brexit in the UK to the election in France. All of these have resulted in the World Bank and the IMF downgrading the global economic growth potentials.

Movement Of NSEASI
NSE Index opened for the week on a negative note, a situation that was extended into the last two trading sessions of the period after two days holidays, bringing the week’s total loss to 2.1% at 30,432.13 basis points after opening at 31,069.37bps, just as market worth followed suit as investors lost N281bn, closing at N13.4tr. This impacted the year-to-date loss position, driving it up to 3.18% despite the low traded volume for the period.

The benchmark index has been on the downtrend since 2018 but seemingly rebounded recently, indicating that smart money is returning to the market especially after the listing of MTN Nigeria by introduction, before pulling back in the last five trading sessions. The market situation may be mixed, but the possibility of reversal is high this week, given that the benchmark NSE All-Share index touched an intraweek low of 30,136.14bps from a high of 31,100bps before retracing up to close the three sessions at 30,432.13bps. Note that the NSEASI is currently trading below its 50 and 100-Day Moving Average, with a possibility of touching the next strong support level of 28.020.13bps, is high as it moves to form a double bottom pattern that will support strong rebound.
The current chart pattern on the index remains neutral, trading on top of the mid-line of the Bollinger band, with RSI reading oversold at 45.54 and Money flow at 17.81 points is weak.

Bearish Sectoral Indices
All sectoral indices closed red, led by the NSE Oil/Gas, which lost 5.15%, followed by Insurance with 4.02%; while Industrial goods, banking and consumer goods that closed at 2.89%, 1.28% and 1.21% lower respectively. This is a reflection of profit taking among market players, even as market breadth remained negative, with decliners outnumbering advancers in the ratio of 44:15, to halt the three-week up-market.
Market transaction in terms of volume and value were down to 768.98m shares worth N12.54bn, compared to the previous week’s 1.08bn units valued at N18.11bn.

The best-performing stocks for the week were Champion Brewery and Academy Press that topped the advancers’ chart with 18.81% and 8% gains respectively, closing at N1.20 and N0.27 per share on market forces respectively. On the other hand, NEM Insurance and Capital Oil lost 13.14% and 13.04% respectively, closing at N2.05 and N0.20, on dividend markdown and market forces.

The Federal Government is delaying the announcement of a new cabinet and assignment of portfolios. This a clear cause for worry, given the challenge this may pose to policy formulation and execution necessary to enable the country to respond to global shocks from the above. We know that economic recovery of this nation is tied to the government’s policy and implementation as the market looks to policies and programs that will drive productivity in the real sector, in order to intensity economic diversification and reduce dependence on crude oil earnings.
Also, we expect mixed economic data, as the 2019 budget, which has been approved by the National Assembly and signed into law is awaiting the cabinet for implementation in the remaining part of the year.

Also, the Consumer Price Index for May is likely to hit 11.40% based on current realities, just as Q2 GDP is expected to slow down further, while labor market numbers may increase with the unemployment rate remaining on the high side.
The market may experience low primary market activities even when many companies want to realign their balance sheets, while others are considering fresh capital by way of right issues due to the prevailing low confidence and liquidity as players trading with caution.
Reasons for this are not far-fetched, given what happened to the market and economy in 2015 and 2016 after the government delayed the cabinet appointments and putting in place an economic management team, leading to a recession. This was because there were no deliberate efforts at economic coordination and direction to steer the economy away from what eventually occurred. Once again, tell-tale signs are here already: the oscillating oil price, slow expansion of Purchasing Managers’ Index for the month of May at 57.8 points from April position of 57.7 points, just as April inflation rose to 11.37% in the midst of stagnated economic growth. There is also another noticeable delay by the fiscal authorities to jumpstart this economy again.

With the expected March year-end earnings reports coming this June to usher in Q2 corporate numbers in the first month of the second half of the year, when companies with interim dividend policy will expectedly release their results and reward their shareholders for the period.
Ahead of the corporate earnings and the announcement of a new cabinet byPresident Muhammadu Bahari, discerning investors should capitalize on the prevailing low valuations to reposition their portfolios by buying in stages. At the same time, the should consider averaging down their costs if already in good fundamentally sound stocks with positive technical potentials to rally as the market rebounds and their full year or second-quarter earnings reports hit the market and beat expectations.

This expected company news and external positive stimulus should trigger ‘buy’ interests, while providing a guide for investors to know where to seek returns, depending on their investment horizon. This is especially true of Flour Mills, Honeywell Flour, RedStar Express, University Press, Academy Press, Northern Nigerian Flour Mills, NPF Microfinance, Conoil and Learn Africa are likely to release their full-year scorecards with the possibility of dividend payment.

Traders and investors who understand the importance of combining fundamentals and technical analysis in making investment decisions while trading or investing in the stock market should take this opportunity to position in some sectors for medium and long term returns. Investors should look especially to banking stocks with interim dividend policies, Industrial goods stocks that are selling at a discount, and service companies, which foreign investors prefer to play in, after a careful study of the recent numbers they made available to the market.

Expectations for June and July
• In this month, the strength of the corporate and economic numbers will determine the direction of equity prices, which are already low and awaiting a trigger.
• Expect few full-year earnings as named above to hit the market this June and more quarterly reports in July. These earnings from blue-chip companies may strengthen market fundamentals if liquidity strengthens.
• The ongoing oscillating trend of equity prices as a result of the repositioning of portfolios along the line of positive numbers and profit taking will continue. Also due to lack of direction, the second half of this year will come with mixed sentiments.
• Market outlook for June and July remains mixed as the market awaits economic policy and stimulus and faithful implementation of the 2019 budget despite the anticipated deficit position, even as the Central Bank of Nigeria (CBN)stands ready to sustain its intervention in the foreign exchange market, and to extend various credit facilities to more real sector operators, thereby boosting liquidity and creating more jobs. Also if the rate is further reduced marginally, it will enhance business activities in the second half of this year.
• The sustained low valuation in the market may trigger a high demand for stocks as the government rolls out its reform policies very soon. However, there is a need to invest wisely, using value, area of support and resistance, volume spike, when taking decisions as a trader.
• Managing risk and protecting capital at this point is very important, to enable you to determine when to buy or sell, by watching the stocks and the market, using technical tools. Look for investdata daily sentiment report.
• Let numbers released by the companies guide your decision and time to stay in that position


https://investdata.com.ng/2019/06/mixed-market-amidst-possible-reversal-as-investors-await-new-cabinet-budget-implementation/

Union Bank Seeks Shareholders Approval To Reorganise Share Capital


Shareholders of Union Bank of Nigeria Plc will meet on Tuesday, June 11, 2019, at an extraordinary general meeting where the board seeks approval for capital reduction and share capital reorganization.
The plan is part of efforts by the directors to free the company of all encumbrances that has prevented it from paying its shareholders dividends from its future profits.

Specifically, the board seeks to clean up its balance sheet by writing off Union Bank’s established accumulated loss of N54.458bn in its profit and loss account arising from legacy transactions, in addition to the N247.868bn approved by shareholders in 2017.
The N54.458bn losses will, subject to shareholders’ consideration and approval at the EGM, be written off the bank’s N187.091bn share premium account, reducing it at N132.633bnwhile leaving the aggregate shareholders’ funds unchanged.

According to an explanatory note on the capital reduction, “it would have no impact on the bank’s creditors but rather, pave the way for the bank’s investors to receive dividends out of the bank’s future profit.”
The retained deficit will, therefore, be cleaned out post-transaction, leaving N6.722bn earnings.
Also at the meeting, the directors will be asking for approval “to seek confirmation from the Federal High Court,” according to Somuyiwa Adedeji Sonubi, the company secretary.

https://investdata.com.ng/2019/06/union-bank-seeks-shareholders-approval-to-reorganise-share-capital/

Shareholders Task Nestle Nigeria On Bonus, N5.8bn Unclaimed Dividend

Shareholders of food, beverages and confectioneries giant- Nestle Nigeria, on Tuesday, reminded the board of the need to expedite action on a bonus issue that would enhance trading of its shares on the Nigerian Stock Exchange (NSE), leading to further price discovery.
Speaking at the 50th annual general meeting of the company in Lagos, the shareholders recalled that they have been clamoring for the share split for the past eight years, adding that there is no better time for such than now when the company celebrates 40 years since it was first listed on the NSE.

Nona Awoh, a shareholder, for example, argued that given the size of Nestle Nigeria’s paid-up capital, reserve, and revenue, among others, a bonus issue will not be out of place.
Of the 792,656,352 million shares paid-up capital of Nestle Nigeria, according to its latest audited financials, 524,559,457 units, or 66.18% are held by the parent company- Nestle S.A. Switzerland, while 268,096,793 units, representing 33.82%, are held by the minority shareholders, including the 8.37% by Stanbic IBTC Nominees.

That, according to Awoh, means the minority shareholders are the ones who “trade the shares and make the price,” hence the need to make more units available to enhance its liquidity.
Supporting the argument, Boniface Okezie, another shareholder regretted that it has taken so long for the majority owners to consider the clamor of the minority shareholders for a bonus issue.
While appreciating management for the N58.50 total dividend payout per share, he called for a one-for-one bonus issue, just as he spoke of the need to further domesticate the company by empowering the farmers to produce more to increase the local raw materials, thereby conserving foreign exchange.

Also, Sir Sunny Nwosu, national coordinator emeritus of the Independent Shareholders Association of Nigeria (ISAN), expressed satisfaction with the dividend payout but wanted assurance that after paying out every of its net profit for the year under review, the management of Nestle has funds for its operations and research.
Awoh appreciated the fact that the 2018 full-year N43.008bn net profit is its biggest so far, from the previous year’s N33.723bn, helped by the significant drop in finance cost, among others. He challenged the management to raise its export earnings, thereby balancing import and exports.

The fact that the company imported goods and raw materials worth N77.8bn in the year under review and exported goods worth just N3.5bn is not good enough urging the board to formulate a policy in this regard.
Besides urging the parent company to consider one board seat for a representative of Nigerian minority shareholder, Awoh was also unhappy with the huge N5.8bn unclaimed dividend in the books of Nestle Nigeria, calling for a collaboration with the Securities & Exchange Commission (SEC) to significantly crash the number.

“We can’t continue like this… We can’t continue to allow this happen… How much did we (the company) earn from the money?”
Continuing, he challenged the board to “help promote and Nigerians the office of the chief executive (of Nestle Nigeria). The last Nigerian that occupied the office was Chief Olusegun Osunkeye between June 1988 and June 1999, when he became chairman of the board.
For him, “you can’t have all of the plum jobs on the management… Nigerians must be a proper player in the coalition.”
On his part, Chief Timothy Adesiyan, former chairman of the Nigeria Shareholders Solidarity Association, appreciated the 28% growth in net profit but challenged the proposition by the SEC that companies would stop sharing corporate gifts at their AGMs, a move many shareholders who spoke at the meeting described as insensitive.
The sign of dissatisfaction was shown very early in the course of the meeting, while the SEC representatives were being introduced, with shareholders booing them.

Explaining, Nwosu explained that the SEC representatives were booed for the decision of the commission to interfere in matters that are not altogether the biggest problem of the nation’s capital market today.
He believes that dialogue with stakeholders should have come before the move.
On her part, Mrs. Bisi Bakare, another shareholder was unhappy about the significant increase in executive and board compensation by the company.

Speaking later, the chairman, David Ifezulike, said the issue of bonus issue will continue to be a review, even as he noted the need to balance the interest of both the majority and minority shareholders.
Nestle Nigeria, he said, has continued to do well, despite the country’s difficult operating environment arising from the huge infrastructure deficit, assuring has invested heavily in backward integration, following which there are some of its products with 100% local raw materials

https://investdata.com.ng/2019/05/shareholders-task-nestle-nigeria-on-bonus-n5-8bn-unclaimed-dividend/

Market Update for the week ended May 24 and Outlook for May 27-31

Trading activities on the Nigerian Stock Exchange, on Friday, May 24, closed lower for the first time since Thursday, May 16, 2019. That day’s loss was evidently not enough to result in a weekly loss for the bourse, as the composite NSE All-Share index closed positive for the second consecutive week on mixed sentiments and high traded volume.

The week’s gain was once again driven by Dangote Cement and MTN Nigeria, the NSE two biggest stocks by market capitalization, as they appreciated in value, especially newly listed MTN Nigeria, which rallied for six straight trading sessions, before slowing down on profit booking. This was also due to investors revaluing the stock at the current market price.
Across the market and sectors, premium index and industrial goods sector led with 14.09% and 6.12% gains respectively, following cross deals and high demand for MTNN, and the positioning by investors for the final dividend proposed by Dangote Cement.

Last week also, the Central Bank of Nigeria (CBN), on Monday and Tuesday, held the last its Monetary Policy Committee (MPC) meeting in the first tenure of Godwin Emefiele as governor, and it was very obvious that members were unhappy with the behavioural pattern and growth of the economy. They agreed that stable and realistic economic growth can only be achieved by stimulating productivity driven by the private sector with an enabling business environment. This is why the committee is looking at the possibility of compelling banks to increase private sector lending to drive expansion or risk a ban from participating in the juicy government securities market.
During the week also, the National Bureau of Statistics (NBS) published the much awaited 2019Q1 GDP report, showing that Nigeria’s economy grew by a slower 2.01% than the 2.38% reported year-on-year in 2018Q4.
Also, the global stock markets had a mixed performance, reflecting the worsening trade dispute between the U.S and China, the world’s biggest economies, in the midst of Brexit negotiations that last week consumed Prime Minister Theresa May. Mrs. May has announced her intention to resign her office, further heightening apprehension by investors.

Movement Of NSEASI
Back home, the week’s trading opened on a positive note as the NSEASI gained 1.7% on Monday on strong buying interest for MTN Nigeria, which was sustained into Tuesday when the index closed further up by 2.90% due to bargain hunting and competition between MTN and Dangote Cement for investor interests. The Bull Run was extended to midweek and Thursday as the market gained 3.07% and 1.07% respectively on increased demand for Dangote Cement, Nestle and Guaranty Trust Bank stocks, before pulling back on Friday, when it shed 1.88%. This was due to profit taking and the return of sanity to the market, bringing the week’s total gain to 6.86%, compared to the previous week’s positive position of 0.08%. Last week’s gain reduced year-to-date loss to 1.75%, just as the negative market breadth within the period offers buying opportunities for traders and investors. Trading enters the last week of the month and is expected to usher in the March year-end earnings reporting period and the swearing-in of President Muhammadu Buhari for his second term in office.
High and low cap stocks dominated the advancers table as selling pressure continued on blue-chip stocks and others, while there were price adjustments for dividend proposed by Cadbury and UACN.

The momentum behind the week’s performance was weak, notwithstanding of the seeming bull-run in the period under review, as shown by the 11.78 basis points money flow index, compared to 16.58bps in the previous week. This indicates that funds are still leaving the market, even as bargain hunting for MTN Nigeria, Dangote Cement and Nestle have sparked positive sentiment. Buying sentiment remained mixed, with buy position at 66% and sell volume, 34% on a transaction volume index of 1.08.

NSEASI Weekly Time Frame
The strong buying sentiment for trillion cap stocks, despite the weak money flow index, continued its rebound last week after 17 months of decline with various attempts to rebound, after touching a strong support level of 28,019.98bps after trading on the lower Bollinger band. The index is currently trading above its 20Day Moving Average, after touching the 200-Day Moving Average.
The current chart pattern on the index supports reversal as it is trading on top of its 20-DMA within Bollinger band, while RSI is reading oversold at 48.16. Money flow at 11.78 points is weak, not minding the upbeat recorded within the week, driven by economic data, the outcome of MPC meeting and bargain hunting for MTN Nigeria, Dangote Cement, Nestle, and GTBank.

Mixed Sectoral Indices
The sector performance indices were largely bearish, except for NSE Industrial goods and Insurance that closed higher by 6.12% and 1.185% respectively, while the NSE Consumer Goods led the decliners by 2.98%; followed by NSE Banking with 1.82%, just as the Oil/Gas index that closed lower by 0.65%. This reflected the mixed sentiment in the market, at a time market breadth remained negative with decliners outnumbering advancers in the ratio of 40:30, to continue the bullish transition.
Transaction activities in terms of volume and value were up 44.95% and 223.67% respectively, to 1.7bn shares worth N57.9bn, as against the previous week’s 1.17bn units valued at N17.89bn.
The best-performing stocks for the period were Thomas Wyatt and MTN Nigeria, topping the advancers’ chart with 29.39% and 28.56% gains respectively, to close at N0.40 and N140.00 per share on market forces and sentiment respectively. On the other hand, Consolidated Hallmark Insurance and Sterling Bank lost 20.69% and 17.20% respectively, closing at N0.23 and N2.07, on profit-taking.

Market Outlook
We expect mixed performance as MTN Nigeria’s influence slows down, even as it the company’s management admitted Saturday that the process of listing its shares is under scrutiny the country’s Economic & Financial Crimes Commission (EFCC), a situation that may dampen investor confidence. There is also the likely end of month trading account balancing in the midst of portfolio repositioning in expectation March year-end earnings reports.
Profit taking may persist in highly capitalized stocks due to portfolio restructuring. Hence, overall market performance to remained mixed amidst positive sentiments and negative breadth.

Market players should maintain a cautious outlook due to low confidence and liquidity, waiting for major economic triggers. Hence, we advise investors to trade cautiously in the short-term, with their gaze fixed on blue-chip stocks that are selling more than 40% below their 52 weeks high. As we look out for a positive catalyst to drive market recovery.
That notwithstanding, we would not overlook the possibility of a bargain-hunting motive supporting positive performance, especially with many fundamentally sound stocks remaining underpriced. With the prices of major blue chips continuing to drop in recent weeks, we expect speculative trading to shape the market’s direction this week, despite the seeming negative outlook.

The sustained volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on the political space and post-inauguration market dynamics. Investors should review their positions in line with their investment goals, the strength of company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value and allow numbers guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.

https://investdata.com.ng/2019/05/profit-taking-may-persist-in-high-cap-stocks-amidst-portfolio-restructuring-march-end-accounts/

Investdata Daily Sentiment Report as at 29 May. 2019

NSEASI buy � volume index 1.18 MFI 53.79
Access buy 100% volume index 1.59 MFI 30.48
Afrprud buy 0% volume index 1.59 MFI 27.48
Caverton buy 0% MFI 55.82
Dangcem buy � volume index 4.47 MFI 71.27
Fbnh buy � volume index 3.28 MFI 42.00
Fcmb buy 75% sell 25% volume index 0.75 MFI 25.22
Fidelity buy 67% sell 33% volume index 1.40 MFI 40.01
Fmn buy 0% volume index 1.11 MFI 3.82
FO buy 60% sell 40% volume index 3.76 MFI 71.85
Jaiz buy � volume index 1.34 MFI 19.71
Nascon buy � volume index 1.78 MFI 37.59
Nestle buy � volume index 2.51 MFI 65.00
Oando buy � volume index 0.87 MFI 63.14
Transcorp buy 67% sell 33% MFI 78.93
Uacn buy � MFI 71.84
Uba buy � volume index 0.95 MFI 26.97
Ubn buy � MFI 65.63
Ucap buy � volume index 2.84 MFI 40.29
Wema buy � MFI 15.38
Zenith buy � volume index 2.56 MFI 41.99

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_29.html

Investdata Weekly Sentiment Report for the week ended May 26, 2019

NSEASI buy 66% sell 34% volume index 1.08 MFI 11.77
ABC buy 67% sell 33% volume index 4.56 MFI 76.66
Access buy 7% sell 93% volume index
0.91 MFI 51.88
Afrprud buy 29% sell 71% volume index 0.98 MFI 43.51
Aglev buy � MFI41.76
Aiico buy 75% sell 25% MFI 57.64
Beta buy � volume index 1.18 MFI 61.10
Cadbury buy � MFI 71.81
Caverton buy 74% sell 26% MFI 86.01
Ccnn buy � MFI 3.85
Chi buy 0% MFI 43.92
Conoil buy � volume index 2.86 MFI 30.77
Custodian buy 10% sell 90% MFI 67.88
Cutix buy 29% sell 71% volume index 1.50 MFI 20.28
Dangcem buy 61% sell 39% volume index 4.34 MFI 53.33
Dangflour buy 58% sell 42% MFI 62.82
Dangsugar buy 0% volume index 4.01 MFI 25.79
Eterna buy � MFI 9.25
Eti buy 95% sell 5% MFI 11.05
Fbnh buy � volume index 0.95 MFI 36.98
Fcmb buy 29% sell 71% MFI 9.67
Fidelity buy � volume index 0.74 MFI 15.24
Fidson buy � MFI 80.65
Fmn buy 0% volume index 2.10 MFI 0.00
FO buy � volume index 0.90 MFI 57.04
Glaxo buy 0% MFI 19.72
GT buy 47% sell 53% volume index 1.21 MFI 29.21
Honyflour buy 91% sell 9% MFI 25.64
Jaiz buy 75% sell 25% volume index 1.49 MFI 61.87
Japaul buy � MFI 68.04
Lasaco buy � MFI 76.61
Lawunion buy � MFI 54.63
Linkass buy � volume index 1.63 MFI 15.83
Lvstk buy 0% volume index 2.55 MFI 32.54
M&B buy � volume index 2.87 MFI 61.69
Mben buy 0% volume index 1.35 MFI 36.21
Mobil buy � volume index 1.61 MFI 74.71
Nahco buy 56% sell 44% volume index 6.09 MFI 61.92
Nascon buy 0% MFI 44.89
Neimeth buy 0% volume index 0.72 MFI 57.48
Nestle buy 76% sell 24% volume index 1.08 MFI 53.84
Npf buy 0% volume index 1.07 MFI 29.29
Oando buy 14% sell 86% MFI 31.02
Regalin buy 0% MFI 46.35
Royalex buy 0% MFI 76.82
Stanbic buy 0% MFI 44.11
Sterling buy 23% sell 77% volume index 1.03 MFI 85.99
Transcorp buy 13% sell 87% MFI 45.98
Uacn buy 5% sell 95% volume index 1.65 MFI 63.70
Uba buy 38% sell 62% volume index 1.53 MFI 19.85
Ubn buy 67% sell 33% MFI 80.45
Ucap buy 37% sell 63% volume index 2.10 MFI 5.56
Unilever buy 0% volume index 0.93 MFI 36.29
Uniondac buy 0% MFI 38.16
Vitafoam buy � volume index 0.78 MFI 39.72
Wapco buy 11% sell 89% volume index 0.88 MFI 20.38
Wapic buy 0% volume index 1.03 MFI 37.43
Wema buy 0% MFI 54.76
Zenith buy 29% sell 71% volume index 0.86 MFI 20.72

https://investdataltd..com/2019/05/investdata-weekly-sentiment-report-for.html

All Eyes On FG To Sign Budget 2019, Amidst Imminent Repositioning, Profit Taking On NGSE

Market Update for May 23
As anticipated, the engineered gaining momentum on the Nigerian Stock Exchange (NSE) slowdown on Thursday, as profit-taking and reality set in to correct the recent market sentiments led by the newly listed MTN Nigeria a week ago and Dangote Cement. The seeming return of sanity may reveal the genuine state of the market and its direction, going forward.
Since the stock market is a leading indicator that gives insight into the economic situation or state, one would expect that sentiment towards the two would be similar. As we have seen over time, that is far from always being the case.

At the moment, both of these indicators are showing entirely different outlooks with Nigeria’s Q1 GDP looking down at its growth rate of 2.01%, when compared to the preceding quarter’s 2.38%, at a time the composite NSE All-Share Index is soaring higher in the midst of weak market fundamentals that have ignored the prevailing low valuation in the market.
See the chart below for Nigeria’s economic performance over the past five years


The MTN Nigeria magic slowed down during Thursday’s trading session. For the first time also, according to some observers of the trend, the NSE’s trading board showed the bids and offers at the same time since the MTNN hit the market in the last 5 trading sessions. Before then and quite curiously, all traders saw on the board were bids on the left side of the screen, now offers. Thursday’s trading offer for MTNN was 70% international investors and 30% local, while bids were 60% local institutional investors and 40% local retail investors.
We note Thursday’s announcement plans by the management of the Securities & Exchange Commission (SEC) and the NSE to streamline by the process of listing new companies on the bourse to reduce costs and time (READ MORE).

Meanwhile, the trading session was yet very volatile and mixed, opening marginally to the downside in the morning session, retracing up by the mid-morning to early afternoon, before pulling back to close the day higher at 31,477,51 basis points on a high traded volume. In all of these movements, the index touched intraday high of 31,917.13 basis points, from its low of 30,902.23bps to remain above 31,000 level.
Market technicals for the day were positive and mixed, as traded volume was higher than the previous day’s, in the midst of negative market breadth and mixed sentiment as revealed by Investdata’s daily sentiment report. Buy position stood at 57% and sell volume, 43% of the total daily transaction volume index of 1.88.
The energy behind the day’s performance was up but still weak, as shown by the Money Flow Index of 42.28points, from previous day’s 38.56bps, indicating that funds are entering the market, amidst buying sentiment for high cap stocks.

Index and Market Cap
At the end of trading, the NSEASI gained 332.36bps to close at 31,477.51bps, after opening at 31,145.15bps, representing 1.07% growth, just as market capitalization climbed N146.39bn up, closing at N13.86tr, from its opening value of N13.72tr, which also represented 1.07% value gain. The NSE index continues to trade above its 100-Day Moving Average and outside the upper Bollinger band that further signals imminent reversal, as RSI has entered overbought region, reading 73.30.

Attention: Join Investdata buy and sell signal setup to get all our in-depth analysis of the picture and to get access to our carefully created watch list of stocks. To become a member, send ‘YES’ or ‘STOCKS’ to the phone numbers below. The number of stocks on our watchlist has increased due to the prolonged market correction. Take advantage of this service to buy right and sell right during this portfolio reshuffling and repositioning ahead of Q2 numbers and fiscal stimulus.
The upturn was sustained amidst mixed sentiment for high cap stocks like MTN Nigeria, Dangote Cement, Nestle, Guaranty Trust Bank, 11 Plc, Unilever and FBNH, among others. This impacted positively to turn the Year-to-Date position to gain of 0.15%, just as market capitalization gain soared to N2.15tr, or 18.07%, from the year’s opening level of N11.72tr.

Bullish Sector Indices
All the sectoral indices were largely up, except for the NSE Banking that closed lower by 0.20%, while the NSE Consumer and industrial Goods led the advancers, notching 1.33% and 0.82% each. Market breadth remained negative as the number of decliners outweighed advances in the ratio of 24:14.
Market activities were mixed performance, as volume traded rose by 90.03%, while value dropped 50.31% to 559.74m shares worth N8.68bn, from the previous day’s 294.57m units valued at N17.47bn. Volume was driven by ICT, conglomerates and financial services stocks, like Sovereign Trust Insurance, UBA, MTNN, Zenith Bank and Transcorp.
Law Union and Japaul Oil were the best-performing stocks as they topped the advancers’ table, gaining 10% and 9.09% respectively, closing at N0.44 and N0.24 per share on market forces. On the flip side, Academy Press and Livestock Feeds lost 10.5 each to close at N0.27 and N0.54, on market forces.

Market Outlook
We expect the trillion stocks’ magic to a slowdown in the midst of profit taking and value investors take advantage of the low valuation to rebalance their portfolio ahead of Q2 numbers. They may also take into consideration, plans by the Central Bank of Nigeria (CBN) to reduce banks’ participation in government securities, while boosting private sector lending to drive economic activities and investment.
More importantly, we expect that the government would sign the federal budget without further delay while we expect a change in its disbursement and implementation style in 2019 budget and beyond to make an impact and drive the economy.
Investors look to the government’s policy direction as the market faced low liquidity problems in the ongoing Q1 earnings reporting season, vis-à-vis market and economic fundamentals.

The drop in prices of major blue chips in recent times has created entry opportunities, following which we expect speculative trading to shape the market direction going forward.
The ongoing volatility will continue as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing quarterly earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, the strength of the company numbers and act as events unfold in the global and domestic environment.
However, we would like to reiterate our advice that investors should go for equities with intrinsic value.
We advise investors to allow numbers to guide their decisions while repositioning in any stock, especially now that stock prices remain low in the midst of mixed company numbers, weak economic and market fundamentals.


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/2019/05/all-eyes-on-fg-to-sign-budget-2019-amidst-imminent-repositioning-profit-taking-on-ngse/

Important Decision for You

Ambrose Here Again

According to Newton's Law of Motion. ... Every object in a state of uniform motion will remain in that state of motion unless an external force acts on it.

Simply put, any result you are getting as at now is due to the fact that it is your current knowledge that got you to where it is today.

So, if you want to get a different result, you will have to improve and gain more knowledge. Learn and apply. That is, you learn and take action because it is the action takers that the world will eventually celebrate.

Just as farmer’s crops do not grow on its own unless a conscious effort by the farmer to plant and nurture its crops, Your investment doesn’t grow on its own. It requires you making an intentional effort.

However, in this current reality, you need an effective strategy to get the best and effective plan for the future.

Subscribe for the buying and selling Signal Subscription now by calling 08028164085,08032055467

Dedicated to your financial Success
Ambrose Omordion

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Ambrose, I sincerely thank you for all the excellent work you have been doing for the past 2 years I joined the membership. I must confess that I have made more returns despite the bearish market. I don’t know how you see the hidden opportunities. But, I hope to come one for one-on-one training.

Kazeem Olufemi from Abuja
Initially, when I came across you via facebook, I subscribed for one month. The following week, I introduced a friend who subscribed for 6 months. My friend followed all the instructions and He called me that I hope I made cash after Mr. Ambrose posted the seller Alert. It was really painful one. Ever since I always subscribe for one year and I have never regretted taking the decision.

https://investdataltd..com/2019/05/important-decision-for-you.html

In this Post-Election Market, Do You Have this Mindset?

It is Ambrose Here...

Football is football and talent is talent. But the mindset of your team makes all the difference... Robert Griffin

Before I go on regarding the current type of mindset you should possess in other to survive in the stock market, what truly is mindset?

According to B. F. Skinner Thoughts are behaviors we haven’t learned to observe yet. Hence, it can be said that Mindset is a way of thinking.

In a word, a mental inclination or disposition, or a frame of mind because Your mindset is your collection of thoughts and beliefs that shape your thought habits.

However, I understand that you might be wondering what does the stock market have to do with mindset. It is everything because your worldview will determine the way you approach things in the market.

Recently, I have been receiving a lot of calls on the Stock market and from most of the questions asked, it still boils down to the type of mindset they have.

In other to survive and win in the stock market, you need to have these 2 mindsets

1. Daily Up to Date Study: just like Law. stock is daily learning, you just can't escape that hurdle because of this simple reason. It is determined by the consciousness of you and over 180 million people. So, it is bound to be always changing. However, the basics still remain the same. These basics are available in most of my materials, training and buying and selling signal premium membership.

2. Risk is part of the equation. According to Mark Zuckerberg, the biggest risk is not taking any risk... In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks. I will talk more on this in our next post.

Happy Trading,
Ambrose Omordion

PS: So, not taking risk of attending Seminars, buying stocks proposed in my buying and selling signal subscription, not buying any of my training materials is the ultimate recipe for losing your hard earned cash in the stock market. However, I am sure you don't want that because you want to change your mindset and altitude. But, if you decide to read this with sarcasm please note Time will tell. A word is enough for the WISE. Call NOW 08028164085,08032055467 or send an email to ambroseconsultants@yahoo.com to
The ABC of Technical Analysis for Novice and Advance Traders Workshop Video Training

https://investdataltd..com/2019/05/in-this-post-election-market-do-you.html

Investdata Daily Sentiment Report as at May 23, 2019

NSEASI buy 95% sell 5% volume index 1.00 MFI 38.55
ABC buy 0% volume index 10.72 MFI 50.31
Access buy 0% volume index 0.84 MFI 38.58
Afrprud buy � volume index 1.61 MFI 29.08
Dangcem buy � volume index 9.57 MFI 87.83
Dangsugar buy 14% sell 86% volume index 5.33 MFI 61.52
Fbnh buy 0% volume index 0.93 MFI 24.97
Fcmb buy 0% volume index 0.85 MFI 30.09
Fidelity buy 0% volume index 1.34 MFI 20.88
GT buy 0% volume index 0.88 MFI 33.51
Jaiz buy � volume index1.38 MFI 13.53
Japaul buy 0% MFI 12.78
Nestle buy � volume index 1.65 MFI 0.00
Oando buy 50% sell 50% volume index 1.04 MFI 52.19
Sterling buy 0% MFI 40.16
Transcorp buy 0% MFI 83.34
Uacn buy � MFI 72.42
Uba buy 0% volume index 1.15 MFI 36.61
Ucap buy 36% sell 64% volume index 2.36 MFI 36.38
Wapco buy 13% sell 87% volume index 5.42
Wapic buy � volume index 1.58 MFI 61.38
Wema buy � volume index 0.89 MFI 22.45
Zenith buy 0% volume index 1.49 MFI 14.46

Investdata Daily Sentiment Report as at May 22, 2019

NSEASI buy 94% sell 6% volume index 1.12 MFI 30.67
Access buy 0% MFI 38.46
Aiico buy 0% volume index 1.67 MFI 37.72
Chams buy 80% sell 20% MFI 53.13
Dangcem buy 96% sell 4% volume index 5.43 MFI 62.82
Dangsugar buy 0% volume index 1.28 MFI 36.73
Fbnh buy 33% sell 67% volume index 1.98 MFI 23.09
Fcmb buy 0% volume index 1.70 MFI 38.53
Fidelity buy 25% sell 75% volume index 1.78 MFI 20.74
FO buy � volume index 1.64 MFI 13.08
Glaxo buy 0% volume index 0.73 MFI 4.30
GT buy 90% sell 10% volume index 1.22 MFI 33.28
Honeyflour buy � volume index 3.85 MFI 23.96
Oando buy 50% sell 50% volume index 0.73 MFI 53.97
Transcorp buy � volume index 0.87 MFI 85.71
Uacn buy 0% MFI 67.85
Uba buy 0% volume index 0.84 MFI 37.01
Ubn buy � MFI 75.65
Ucap buy 78% sell 22% volume index 0.75 MFI 43.51
Vita foam buy � volume index 2.37 MFI 23.82
Zenith buy 0% volume index 0.98 MFI 16.13

https://investdataltd..com/2019/05/investdata-daily-sentiment-report-as-at_34.html

Nigerians’ll Feel Impact Of CBN Devt Finance Efforts By 2021- Emefiele

Governor of the Central Bank of Nigeria (CBN), on Wednesday, assured that Nigerians will begin to feel the impact of apex banks’ development finance initiatives within the next two years under his watch.
Emefiele, who was responding to questions when he was being screened, following his nomination by President Muhammadu Buhari for a second and final term in office term in office by the Senate Committee on Banking, Insurance and Other Financial Institutions, however, noted that more needed to be done to get Nigeria to the desired heights.

Alluding to the pace of development in some Asian countries that were Nigeria’s peers at independence in 1960, Emefiele promised to implement policies for the betterment of the Nigerian people, who are at the heart of its vision of a people-centered Central Bank.
Members of the committee lauded the apex bank and Emefiele for contributing immensely to the stability of the Nigerian economy, in spite of the recession the country witnessed in 2016.

The committee chairman, Senator Rafiu Ibrahim Adebayo said Emefiele’s renomination was an indication that the President recognized the bank’s contribution to the health and stability of the economy.
Adebayo, who also dismissed recent allegations of fraudulent activities in the CBN through a leaked audio tape,expressed satisfaction with Emefiele’s presentation, even as he charged the governor, the CBN board and members of the Monetary Policy Committee not to be deterred, but rather redouble their efforts and ensure the promotion of a sound and stable economy.

Also commending the CBN Governor on the successful reforms carried out during his first tenure, other senators, who took turns to speak, called for greater improvement in the areas of foreign exchange management, development finance and access to credit among others. They also sought clarification on the issue of foreign exchange windows
The screening exercise followed the call by the President of the Senate, Senator Bukola Saraki, to the committee at the plenary on Tuesday to carry out the screening and report back to the Senate within one week.

Emefiele was appointed as CBN Governor on June 2, 2014, is due to end his first tenure on June 2, this year.
President Buhari last week transmitted a letter to the Senate requesting that Emefiele be confirmed as CBN Governor for a second and final term of five years.
Meanwhile, it is expected that the Senate will confirm Emefiele’s nomination as the CBN governor next week after receiving the report of the Committee on Banking, Insurance and Other Financial Institutions.

https://investdata.com.ng/2019/05/nigeriansll-feel-impact-of-cbn-devt-finance-efforts-by-2021-emefiele/#more