₦airaland Forum

Unity Bank Returns To Profit, Reports N243bn Negative Shareholders’ Fund


After what seemed like forever, infused with a lot drama and anxiety, the board of Unity Bank Plc finally published its audited account for the year-ended December 31, 2018 and by default, that of the comparable year 2017, showing that things are not too good after all with the financial institution. From indications, the company must have to seek injection of fresh equity funds to take it out of the Intensive Care Unit of the Central Bank of Nigeria (CBN). In 2018, the bank obtained N50bn short-term borrowing from the CBN to meet working capital requirements.
Besides the huge 58.49% drop in gross earnings, precipitated by the 65.94% drop in interest and similar income- the lifeblood of any bank, at a time expenses slowed down by 56.18%, it returned to profit, representing a 108.51% after tax rebound.
Gross earnings stood at N37.325bn from N89.925bn, out of which its northern operations generated N13.444bn; followed by N13.163bn from the south, while the corporate office contributed N10.716bn. Interest and similar income fell from N86.629bn to N29.505bn; while expense was constrained at N15.535bn from N35.452bn in the previous full year. This resulted in net interest income of N13.97bn, down by 72.7% from N51.176bn in 2017.
Fee and commission income dropped 9.58% from N1.683bn to N1.522bn; just as net trading income soared to N1.128bn, 6,047.52% from N18.36m; other operating income jumped to N5.168bn from N1.594bn, representing a rise of 224.2%.
Total operating income increased by 111.67% from N10.218bn in 2017 to N21.628bn; just as there was 8.11% slide in personnel expenses from N10.861bn in previous year to N9.98bn.
Depreciation of property and equipment reduced by 19.09% from N1.602bn to N1.296bn; amortization of intangible assets dropped 57.95% to N81.89m from N194.72m.
Other operating expenses dropped 24.94% from N11.801bn to N8.858bn; bringing total operating expenses to N20.217bn, down by 17.35% from N24.46bn; following which profit before tax stood at N1.411bn, improving by 109.91% from the preceding year’s N14.242bn loss.
Net profit for the year stood at N1.269bn from the N14.917bn loss; translating to Earnings Per Share of 13 kobo, compared to the prior year’s N1.28 loss. A breakdown of the contribution to profit showed that the bank was saved significantly by the N3.416bn net profit recorded by the south operations, as against its N4.245bn loss in 2017; followed by the north with N1.103bn, as against the loss of N3.087bn in prior year. The he corporate office however posted N3.251bn loss, a drop from N7.585bn in prior year.
On its balance sheet, Unity Bank grew total assets by 50.78% from N156.506bn to N235.976bn, with customer loans and advances at N43.657bn, up from just N8.958bn. The bank’s loans are mainly skewed towards Abuja, which accounts for N29.899bn or 68.89%, up from N1.005bn in 2017. A further breakdown of the bank’s loan book shows a deliberate focus on the agric sector which commanded N32.698bn or 73.64% in the revenue period, from just N163.745m or 1.73% in 2017, boosted by the N37.45bn from the CBN for on-lending to rice Farmers Association of Nigeria (RIFAN), as part of the Federal Government’s initiative to provide single digit interest rates for the sector. Of the amount, N30.6bn has been disbursed. There was therefore a significant drop in the bank’s lending to government, which stood at N3.926bn or 41.48% in 2017; and power, at N2.536bn or 26.8%.
Debt instruments at fair value through other comprehensive income was however the bulk of assets at N76.089bn. Total liabilities grew from N398.699bn to N479.663bn, representing an increase by 20.31%, with customer deposits of N124.18bn, rising from N80.546bn, debt issued and other borrowed funds climbed from N80.546bn to N124.18bn; just as amount due to other banks increased from N42.957bn to N100.347bn.

This resulted in negative shareholders’ funds of N243.686bn, as against the previous N242.193bn, not helped by its negative retained earnings of N340.021bn, slightly above the previous N338.694bn; the effect of which was mitigated by the positive “other reserves” of N67.684bn, a marginal decline from N68.241bn. The negative shareholders’ funds, the bank explained, was caused by t,he 2017 “strategic disposal of non-performing loans under a toxic asset resolution initiative in the ongoing capitalization process,” a situation, it added, impacted on the N243.69bn reported for year 2018. The good thing, the directors say, is that the bank is currently carrying a zero non performing loan book, thereby extremely minimizing the bank’s credit exposure.

As at year-ended December 31, 2018, Unity Bank’s largest shareholder is the Federal Government, represented by the Asset Management Corporation of Nigeria (AMCON), holding 4.002bn shares or 34.24% stake, followed by PanAfrican Capital Nominee, 1.48bn units or 12.67%; followed by Thomas Etuh’s 1.053bn or 9.01%. Ibad Ltd holds 717.722m units representing 6.14% stake; El-Amin (Nig) Ltd represented by the chairman- (the Babangida family) follows with 5.27%, bringing total stake of the majority holders to 7.869bn or 67.33%. The directors who are persons of means, can therefore save the bank by injecting fresh capital, while in the process significantly reducing the stake held by AMCON.

Meanwhile, the bank’s external auditors- Ahmed Zakari & Co, in its report to shareholders notes the importance of a capital raising exercise, which it says remains a key audit matter, given that its success would “reverse the bank’s negative shareholders’ funds and capital adequacy ratios and to provide assurance on the bank’s ability to carry on operations as a going concern.”It is also expected to provide trading funds to strategically reposition the bank in the industry and improve its capacity to operate sustainably.”
The auditors also note that “a number of potential investors have indicated interests in participating significantly in the bank’s equity. Some have concluded their due diligence on the bank are at various stages of negotiation.

https://investdata.com.ng/2019/04/unity-bank-returns-to-profit-reports-n243bn-negative-shareholders-fund/

Investors Look To Q1 Earnings, After NGSE Bleeds 9.27% Post-Presidential Poll

Market Update for April 3
The crises of confidence and low liquidity that have seriously hit the Nigerian equity market are daily becoming more by the day. At the end of midweek’s trading activities, for example, the composite Nigerian Stock Exchange All Share index became even more bearish on a selling pressure as revealed by Investdata daily sentiment report showing a sell volume of 99% and buy position of just 1% of the total daily transaction volume index of 1.47.

This signals real sell off, at a time the market had suffered three back to back losses making entry attractive for long-term investors. However, traders should be very cautious, because the general market direction has influence on your fundamentals and technical analysis in any market cycle.

Although, the government had dominated the capital market in the last four years raising one fund or the other, its policies or posture has not supported the market and the economy at large. Its constant borrowing via bond issuance, among others, have crowded out the private sector, due to the high rate, making it easy for financial institutions and foreign investors readily provide risk-free funds at the detriment of the economy.

Over the last four years, the market has recorded losses thrice in 2015, 2016 and 2018, up only in 2017 due mainly to introduction of the CBN’s Investors and Exporters window to manage the forex market. This supported relative stability in the Naira’s exchange rate and attracted fund after the market suffered three straight years of losses which made equity prices attractive. Recall that equity prices had mostly become grossly undervalued at the time, just as they are today. Since after the presidential and National Assembly elections on February 23, the NSE All-Share index have declined by 3,031.42 basis points from 32,700.12bps on February 25, to 29,668.70bps by the end of Wednesday, April 3, representing 9.27% loss. Within the period, market capitalisationlost N1.05tr, from N12.19tr to N11.14tr, which represents 8.61% down. The difference in due to the listing of Lafarge Africa’s right issue and Access Bank merger scheme with Diamond Bank.

The NSE index had a tough day on Wednesday, as it opened the session on a sharp sold off in the morning which lasted throughout the day to breakdown the psychological line of 30,000 mark and a couple of support levels. It touched intraday low of 29,665.78bps from a high of 30,243.71bps on a high traded volume to close the day lower. The continued selloff in banking, insurance and industrial goods stocks may push the index below its January 9 strong support level of 29.336.80bps. This extended 5-wave corrective move may also usher in recovery any moment from now.

The momentum behind the day’s market performance were very weak, as shown by money flow index at 7.55 points, from previous day’s 10.77bps. This is indicating a fundamental problem of lack of fund, as smart money had left the market after taking it up few weeks to the general election.

Index and Market Cap
At the end of midweek’s trading, the All Share Index lost 558.04 basis points to close at 29,668.73bps, from an opening figure of 30,226.77bps, which represented a 1.85% decline. Market capitalization shed N209.6bn, closing at N11.14tr, from its opening value of N11.35tr, representing 1.84% depreciation in value.
Attention: Join Investdata buy and sell signal setup to get all our in-depths analysis on the picture and to get access to our carefully created watch list. 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 earnings season and beyond.

Midweek downturn was driven by selloffs in stocks like: Dangote Cement,Guaranty Trust Bank, Zenith Bank, UBA, UACN, FBNH, Dangote Sugar, Dangote Flour, Eterna, Access Bank, CCNN, Wema Bank and Transcorp. This impacted on Year-to-Date loss, extending it to 5.61%, while market capitalization is down by N564. 47bn, or 4.94%, from the year’s opening level of N11.72tr.

Mixed Sector Indices
The sectoral performance indexes were largely down, except for the NSE Consumer goods and Oil/Gas that closed higher by 1.20% and 0.26% respectively. Market breadth was negative as decliners outweighed advancers in the ratio of 26:8.
Market activities in volume and value were up by 43.54% and 24.83% respectively, to 542.58m shares worth N5.66bn from previous day’s 376.95m units valued at N4.54bn.Volume was driven by financial services stocks like: FCMB, Sterling Bank, FBNH, Access Bank and Guaranty Trust Bank.

Nigerian Breweries and Cornerstone Insurance were the best performing stocks for the day, gaining 5.45% and 5% respectively to close at N60 and N0.21 per share on the strength of market forces. On the other hand, Consolidated Hallmark Insurance and Access Bank lost 10% each, closing at N0.27 and N5.85 each,as the market sentiment.

Market Outlook
We expect a slowdown in the current trend as players reposition for Q1, which will help give direction into how this year could turn out after seeing the 2018 financials. We note also that there are more company’s notifying the NSE of their closed period for first quarter 2019 earnings reports.

Investors look to government’s policy direction as the market faces low liquidity problems in the ongoing earnings reporting season, vis-à-vis market and economic fundamentals.
Given the drop in the prices of major blue chips in recent times, creating entry opportunities, we expect speculative trading to shape the market direction going forward.

The volatility witnessed last week, was driven by traders and investors repositioning ahead of dividend declaration by major listed companies.
The ongoing volatility will continued as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing full year company earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, 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 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.

Meanwhile, we greatly appreciate participants in the Abuja Invest 2019 Post-Election Bulls & Bears held on Saturday, March 23.
The investment education train moves to Port Harcourt, Rivers State, with Chart Summit 2019!


https://investdata.com.ng/2019/04/investors-look-to-q1-earnings-after-ngse-bleeds-9-27-post-presidential-poll/

Investdata Daily Sentiment Report as at April 3rd, 2019

NSEASI buy 1% sell 99% volume index 1.47 MFI 7.52
Access buy 0% volume index 1.30 MFI 76.70
Aiico buy 0% volume index 0.96 MFI 54.03
Caverton buy 0% volume index 1.76 MFI 76.35
Dangcem buy 0% volume index 1.32 MFI 39.52
Fbnh buy 8% sell 92% volume index 2.81 MFI 28.95
Fcmb buy 20% sell 80% volume index 4.97 MFI 38.60
Fidelity buy 87% sell 13% volume index 1.62 MFI 32.79
GT buy 33% sell 67% volume index 1.97 MFI 57.84
Jaiz buy 0% MFI 33.39
Lasaco buy 0% volume index 2.81 MFI 55.68
Lvstk buy � volume index 1.38 MFI 22.96
Oando buy 86% sell 14% volume index 1.59 MFI 29.65
Stanbic buy � volume index 5.73 MFI 53.22
Sterling buy � volume index 13.04 MFI 83.22
Transcorp buy 70% sell 30% volume index 1.80 MFI 37.42
Uacn buy 0% volume index 3.09 MFI 26.81
Uba buy 8% sell 92% volume index 1.71 MFI 27.55
Wema buy 60% sell 40% MFI 56.00
Zenith buy 12% sell 88% volume index 1.30 MFI 54.82

https://investdataltd..com/2019/04/investdata-daily-sentiment-report-as-at_4.html

THE LADY WORTH DYING FOR...

Some ladies have been complaining seriously about their fiance's stinginess, keeping secrets about how much they earn, spending too much on his people, not getting a comfortable apartment before wedding etc while some guys lament the lady wants a bigger wedding than what he can afford!

Honey, that guy is not your ATM machine for God's sake! That he is in courtship with you does not mean he must empty his hard earned money on you and go into debt! Stop looking for who to drop your colossal problem on. If you need money, dust your certificate, go look for job and take good care of yourself. If he has, he will give, if not, don't give him hypertension! He has not married you, you are already demanding for money like he bought you on credit? Are you for sale?

Marriage is about giving ooo sweet ladies! Don't go there like a gross liability looking for a man to give you #10 for matches! Use your brain, work with your two hands and prove to a man you are principally in his life to give not suck him dry!

If he can only afford a room self contain for your marriage, add your own money to get a mini-flat if that is what you want. If you can't, don't kill him. Release him in peace to find a lady who will start small with him and grow big!

If you want a big wedding and he can honestly afford small one, either you provide the balance for the big wedding or make do with a small one. I don't know what is wrong with some ladies! They are so narrowed thinking, they carry the problem of four generations on their head! Must you call a big crowd to your wedding? Must you wear 100k wedding gown? Must your wedding be on a Saturday? Must you kill a cow? Must you go into debt? After they push the man into debt, they are now hungry after wedding, you will still be telling the whole world your husband is stingy, he doesn't take care of you, don't kill him oooo!

You can't tell a man not to give to his mother and siblings because of you. Na only you waka come? Why would the poor mother who sent him to school suffer because he married you? Go and look for job and take care of yourself, bikonu! Your husband will definitely take care of you but he can't neglect his family because of you so shift let him pass!

If you demand too much your partner will hide his salary from you because once you know how much he earns, you will milk him dry. If you are the greedy, always demanding for money type in relationships, men will hide their money from you big time!

Every man wants to marry an asset not a liability! A woman who comes into his life to make his life better not worse, to add not to subtract, to multiply not divide! When you work hard, make money, give your man ideas that will help him make more money and multiply his income, he will give to you without stress. You don't need to ask a man for money before he gives, if he genuinely loves you he will take care of you and ensure you do not lack.

Before you ask a man for money, you should have solved at least half of your problem, that way you show you are responsible but circumstances beyond your control make you seek help.

A woman worth dying for is an Amazon! A money making machine! A helper! A contributor! A bank of ideas, an hard working virtuous woman! A multiplier of resources, a giver! Super generous, loving, caring yet humble, very humble!

I'm not encouraging men to be stingy. You have to give to your partner and take care of her but trust me, when a man genuinely loves you, he gives without asking, you don't need to ask at all.

Dewunmi gave me his all while in courtship. He put me as number one. In marriage he keeps giving without asking, so selfless, so humble, so sacrificial, so generous to the core!

Bottom line, marry your soul mate darling, when you do so, it is easier to give to him, it is easier for him to give to you. It is easier to help each other become better and greater "for TWO are BETTER than one and they have a REWARD for THEIR LABOUR" May you not miss your soul mate.

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

ARISE WOMEN AND HOLD THE HANDS OF YOUR LITTLE GIRLS!!!! HIDE THEM IN YOUR SKIRT IF POSSIBLE IN YOUR BRA!!!

A week ago a 13 Year old girl was found pregnant but she didn't know who impregnated her. But I will tell you the truth she was raped by someone nearby and threatened not to report.

When Doctors conducted tests on her they found she was not a virgin meaning someone had been sexually abusing her.

Just yesterday another story of 13 year old who was staying with her uncle was found raped and killed.

Listen, If a man can remove the diaper of a 6 days old baby clamp the little baby's feet and rape her what would stop them from raping a 13 year old little girl??

The quicker we realize that we are living in a rotten society the better for our girls.

Even at school the girls are raped by male teachers.

Even at church the girls are raped by Pastors and Church Elders even Papas.

Even at home the girls are raped by brothers, uncle's, fathers, grandfather's, nephews and male workers.

Worse of even at the police station the girls are raped right there by male police officers.

As a Prophet of God my job is to alert you and tell you things as I see them and witness on the ground.

The truth is the girl child is not safe anywhere so what should we do as parents to help our little girls.

-Teach our girls to fear the night because that's when most predators lurk and wait for the victims.

-Teach our girls what is inappropriate behavior so that they know when someone is touching them wrongly.

-Seriously teach our girls some defence mechanisms that have helped several girls.

-Sex education is very important for our girls.

-Teach your little girls not to be trusting around men of any nature

When I was growing up I wondered why my mother would make my sister wear underwear or wrap herself in a scalf when my uncle's and father where home it is now that I realize that our mothers have always known from generations that even family members rape, defile and sexually abuse girl children.

Don't be careless and trusting for as we speak some mothers are still stitching the wounds of their little girls.

Don't be that women who hides such disgusting acts under a carpet to save your marriage or family think about that broken girl child.

As a man don't be that man who undresses in front of a 10 year old girl and without shame commit the act.

Don't be that neighbor who knows that abuse is happening in a particular house and you close your ears to the cries of a girl child.

Don't be that police officer who takes a bribe and let's the perpetrator walk free.

It looks simple until your own little girl is affected be vigilant and don't make your child one of the 2019 statistics.

No one, I repeat no one can protect the girl child more than you the mother, the auntie, the cousin the sister please wake up!!!
please Share for who has ear,

Jacob Owolabi

YES, YOU SHOULD FEEL BAD...

A girl will just get up from a guy's bed and come crying she made a "mistake". When you rebuke her for sleeping over in a man's house, she will tell you to stop "condemning" her, you are making her feel bad, Christ forgives us all our mistakes, the past is gone and all those silly excuses some lousy singles give that wants to make me sound them serious thunderous slaps!

You carry her on your laps while speaking in "tongues" and end up impregnating her. You don't want to feel bad for defiling the daughter of two ageing parents who are struggling to feed their children and send them to school! You shatter their dreams and make them shed endless tears and you want me to pat your back and say "There is now no condemnation to them who are in Christ Jesus." Was Christ Jesus in you when you were removing her pants? You deserve serious lashes and endless reminder of how completely irresponsible, shameless and thoughtless you are!

You threw your virginity to the dogs and you don't want any body to correct you. Whenever you hear virginity, that's when you jump and start screaming, "we all make mistakes", " everybody has a past", "character is more important than virginity", " don't condemn those who are not virgins", "we are all new in Christ Jesus", etc. And so? Who asked you to throw your own virginity away? Why do you feel so pained and ashamed when we praise virgins?

We live in an age where people don't want to take correction anymore. Correction is seen as condemnation! You don't want to feel bad for doing what is bad! You want to feel good on top of another man's wife, under another woman's husband, while kissing and romancing a boy friend/girl friend, fiance/fiancee. You want me to pat your back and say "Ride on, Christ will forgive you the moment you get orgasm" Are you okay?

Is there no where it is written in your bible that "Shall we continue in sin that grace may abound?"

God is loving and forgiving, we all know, yet "He is a consuming fire!" That is why there is a hell fire! Is that not in your Bible?

Jesus was so gentle, yes! Didn't he flog irresponsible "men of God" and their followers out of the temple? Was that part torn out of your Bible?

Is it not written in your Bible that "God is not mocked for whatsoever a man sows, same shall he reap?" You sow fornication and abortion, you will reap shame and dishonor, there is nothing you can do about it. Jesus will forgive you, but your hymen won't supernaturally go back!

The damaged womb as a result of abortions will take serious fasting and prayers to carry babies.

You sleep around, you will get shame and dishonor if you don't repent. If you like, continue, your suffering is waiting for you in future!

You need a measure of hurt and pain to change! John C. Maxwell said, "People don't change until they hurt enough. When you keep from feeling the hurt and pain sin causes, your conscience is sealed and you are heading towards destruction! When I feel really bad and hurt as a result of something negative I do, I quickly change so I won't feel the painful, heart wrenching consequence any more! I easily feel pained when I err but I don't dwell on the pain. I ask for forgiveness immediately and forget it right there or sooner.

Yes, Christ forgives us all our sins and wipes are past (2 Corinthians 5:17; 1saiah 43: 18-23). We should not feel condemnation if we GENUINELY repent and do not go back to your vomit (Romans 8:1). That is the key word: REPENT and don't go back. Don't dwell on your sins. Dwelling on the mistake without correcting it brings endless shame, guilt and condemnation. Forget it, DON'T GO BACK and move on! That is real Christianity!


But if you keep having sex like crazy, committing all manner of atrocities: stealing, telling lies, flirting, dirty chats, gossiping and all sins you can mention of don't come and disturb those who are keeping themselves and make them feel bad for choosing to stay pure and not defile themselves. You chose to go astray, enjoy the consequence alone, that's your choice!

We all shall reap what we sow. You sow sin and immorality,shall bear the consequence full scale. May your understanding be opened!

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

Investdata Daily Sentiment Report as at March 28th, 2019

NSEASI buy 7% sell 93% MFI 13.64
Access buy 33% sell 67% MFI 81.74
Afrprud buy � MFI 73.80
Cadbury buy 0% volume index 5.48 MFI 71.31
Fbnh buy 33% sell 67% MFI 72.82
Fcmb buy 0% MFI 27.03
Fidelity buy � MFI 54.03
GT buy 0% MFI 72.74
Jaiz buy 0% MFI 18.70
Lasaco buy 0% volume index 1.57 MFI 42.12
Nascon buy 0% volume index 2.24 MFI 26.29
Presco buy 0% volume index 2.48 MFI 0.00
Sterling buy 96% sell 4% volume index 2.91 MFI 51.27
Transcorp buy 0% MFI 54.77
Uba buy 50% sell 50% MFI 31.92
Wema buy 0% MFI 22.71
Zenith buy � volume index 0.97 MFI 63.83

https://investdataltd..com/2019/03/investdata-daily-sentiment-report-as-at_28.html?m=1

THE CONSEQUENCE OF UNCONTROLLED SEXUAL DESIRES
Your sexual desire must be controlled before marriage. If you do not deal with your sexual desire, you will explore it and here are the consequences you will face:

1. Guilt. Nothing creates guilt more than dirty thoughts, masturbation, petting, kissing and all forms of romancing and the king of them all, pre-marital sex.
2. Low self esteem: premarital sex is a number one self esteem killers.
3. Addiction to porn, masturbation and sex which in turn makes you a public property: you sleep with every Tom, Dick and Harry on the street.
4. Shame.
5. Fear: fear of being caught, STDs, unwanted pregnancy, abortion, rejection, etc.
5. Demonic possession.
6. Transference of spirits from the people you slept with to you.
7. Soul tie.
8. Spiritual spouse.
9. Mental dullness.
10. Low intelligence/poor academic performance.
11. HIV/AIDS, Gonorrhea and other STDs.
12. Unwanted pregnancy.
13. Forced marriage as a result of unwanted pregnancy.
14. Backwardness in life.
15. Spiritual weakness.
16. Spiritual death.
You will not fall into sexual sins in Jesus' name. If you are already addicted, the power of the Lord will deliver you in full force in Jesus' name! Those of you crying secretly over your sins, receive the power to break free right now, in the mighty name of Jesus!
© Seun Oladele.

Are you a small business owner in need of marketing intervention?

Call or whatsapp @
Akan Udofia
08057933767, 09020405585

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Are you a small business owner in need of marketing intervention?

Call or whatsapp @
Akan Udofia
08057933767, 09020405585

https://acandav.business.site/

Are you a small business owner in need of marketing intervention?

Call or whatsapp @
Akan Udofia
08057933767, 09020405585

https://acandav.business.site/

Are you a small business owner in need of marketing intervention?

Call or whatsapp @
Akan Udofia
08057933767, 09020405585

https://acandav.business.site/

Are you a small business owner in need of marketing intervention?

Call or whatsapp @
Akan Udofia
08057933767, 09020405585

https://acandav.business.site/

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Implication of rate cut

The oscillating sentiment is likely to continue, despite the low valuation of our market now. The cut is expected to trigger flow of fund and economic activities that support growth and improve corporate earnings that drive stock price, especially if government policy and economic reforms will complement this monetary policy move in this new dispensation. Because the rate cut is still small from 14% to ,13.5% the impact will not be much now. But a step in the right direction if we want to reduce unemployment.

https://investdataltd..com/2019/03/implication-of-rate-cut.html

Money Flow Index, Confidence Nose-dive, As Price Drops Offer Entry Prospects On NGSE

Market Update for March 25
The twin evil of dwindling confidence and low liquidity on the Nigerian Stock Exchange (NSE) have continued to militate against it, judging by yet another fall in its benchmark indicators on Monday, the first trading session of the week. This was despite impressive earnings from Julius Berger and 11 Plc released last week but failed to elicit any kind of market reaction, instead, it suffered a decline, reversing Friday’s up market.
From the political perspective and despite the electoral season ending with the March 23 supplementary elections in six states, the lack of trust in Nigeria’s electoral process may not change so soon. The market has also suffered from the lack of economic news strong enough to change the narratives, but we wait to see whether there could be a pull from the ignited by the outcome of Tuesday’s Monetary Policy Committee (MPC) meeting that could affect the direction of the market. But then, this may not happen, give media reports of the Central Bank of Nigeria (CBN) governor hinting that all monetary instruments could likely remain unchanged.

Trading on Monday was volatile and mixed. The market opened on a downside as the index was hit with selloffs which pulled it to touch intraday low of 30,996.82 basis points, after opening high at 31,139.35bps, before retracing back up late afternoon to finish the day lower than it opened, at 31.042.32bps. This was after it had test the recent support level on a very low traded volume that signaled high cautious trading during the session.

Also, an important pointer to the situation of things on Monday, was the money flow index which touched its lowest point this year at 12.92 points, compared to its year-to-date high of 93.02 points on February 21, 2019, just before the Presidential and National Assembly elections on February 23. Immediately after that election, smart money and institutional funds that pushed the market up a few weeks to the election exited their positions, as the results were being collated and hints of the poll’s outcome started to filter out.
Since then, the composite NSE All-Share index has mostly gravitated towards the south, despite the seemingly high dividend payout witnessed in the ongoing earnings season that has been characterized by mixed numbers.

Market technicals on Monday were negative and mixed as volume traded remained lower than previous day’s in the midst of negative breadth and mixed sentiment, as revealed by Investdata’s Daily Sentiment Report, showing sell position of 68% and buy volume at 32% on total daily transaction volume index at 0.55.
Energy behind the day’s market performance were weak and down as shown by money flow index at 12.92 points, from previous day’s 24.14bps, indicating that funds are exiting the market for safer investment window.

Index and Market Cap
At the close of the Monday’s session, the benchmark index NSEASI shed 97.03bps to close at 31,042.82bps, from an opening figure of 31,139.35bps, representing 0.31% decline; while market capitalization lost N36.19bn, closing at N11.58tr from its opening value of N11.6tr, also representing a 0.31% value loss.

Attention: Join Investdata buy and sell signal setup to get all our in-depths analysis on the picture and to get access to our carefully created watch list. 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 earnings season and beyond.
Monday’s downturn was due to selloffs in medium and high cap stocks like Dangote Cement, Nestle, 11Plc, Cement Company of Northern Nigeria, FBN Holdings, NEM, Oando, Access Bank, Dangote Flour, FCMB, Zenith Bank and Transcorp. This impacted on Year-to-Date loss, dragging it to 1.24%, while market capitalization loss increased to N144.56bn from the year’s opening level of N11.72tr, representing a 1.23% decline in value.

Bearish Sectoral Indices
All the sectoral performance indexes were in red, reflecting the massive profit booking across the sectors, with the NSE Industrial Goods index suffering the most, after shedding 1.68%, just as market breadth turned negative with decliners outnumbering advancers in the ratio of 19:12.
Transaction volume was down by 27.03% to 168.72m shares, compared to the 250.03m units exchanged on Friday, while value rose by 43.37% to N3.76bn, compared to the previous day’s N2.43bn. Volume was driven by financial services stocks like: Guaranty Trust Bank, Zenith Bank, Access Bank, FBNH and UBA.

Redstar Express and University Press were the best performing stocks, topping the advancers table with 10% and 8.11% gains respectively to close at N5.50 and N2.00 per share on market sentiment and forces. On the flipside, Academy Press and Consolidated Hallmark Insurance lost 8.37% and 6.90% respectively, closing at N0.33 and N0.27 each, on market forces and profit taking.

Market Outlook
We expect a down market today, irrespective of the likelihood of more earnings reports pouring in as the March 31, 2019 official deadline for companies with December 31, 2018 year-end earnings reporting season draws to a close on Friday.
We note that the likely retention of the benchmark Monetary Policy Rate of the CBN at 14% at the end of the ongoing MPC meeting will further slowdown the market and the economy, because the high interest rate continues to entice foreign investors and attract foreign portfolio and direct investments. This high rate is however at the detriment of domestic investors and businesses expected to drive economic activities and create jobs. Investors look to MPC meeting outcome and government’s policy direction as the market faces low liquidity problems in the ongoing earnings reporting season, vis-à-vis market and economic fundamentals.
Given the drop in the prices of major blue chips in recent times, creating entry opportunities, we expect speculative trading to shape the market direction going forward.

The volatility witnessed last week, was driven by traders and investors repositioning ahead of dividend declaration by major listed companies.
The ongoing volatility will continued as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing full year company earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, 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 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.

Appreciation
Meanwhile, we greatly appreciate participants in the Abuja Invest 2019 Post-Election Bulls & Bears held on Saturday, March 23.
The investment education train moves to Port Harcourt, Rivers State, with Chart Summit 2019!

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/2019/03/money-flow-index-confidence-recede-as-price-drops-offer-entry-prospects-on-ngse/

Investdata Daily Sentiment Report as at March27th, 2019

NSEASI buy 36% sell 64% MFI 13.22
Access buy 33% sell 67% MFI 80.02
Afrprud buy � MFI 61.59
Aiico buy � volume index 2.07 MFI 39.40
Dangcem buy � volume index 0.72 MFI 26.30
Dangflour buy 86% sell 14% volume index 1.44 MFI 85.99
Eti buy 0% MFI 57.32
Fbnh buy � volume index 1.45 MFI 69.87
Fcmb buy 0% MFI 31.29
Fidelity buy � MFI 54.03
GT buy 67% sell 33% MFI 64.62
Mobil buy � volume index 1.79 MFI 43.49
Npf buy 0% volume index 2.81 MFI 50.04
Oando buy � MFI 49.55
Presco buy � volume index 3.80
Transcorp buy 0% MFI 55.77
Uba buy 25% sell 75% MFI 39.75
Ubn buy 0% volume index 1.26 MFI 76.74
Ucap buy 80% sell 20% volume index 1.12 MFI 78.32
Unilever buy 0% volume index 1.62 MFI 94.43
Wapco buy � MFI 23.77
Wema buy 0% MFI 27.04
Zenith buy 17% sell 83% MFI 62.93

https://investdataltd..com/2019/03/investdata-daily-sentiment-report-as-at_32.html

CBN Rate Cut: Investors Await New Policy Direction Amidst Low Liquidity

Market Update for March 26
Nigeria’s equity market had a mixed session on Tuesday, staying negative even as the investing community is expecting more corporate earnings reports ahead of this weekend’s statutory deadline for submission of 2018 full year audited financials draws closer.

The cautious trading during the session was obvious as reflected in the volume traded, with investors and traders stylishly looking to the outcome of two-day Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting which ended Tuesday. The meeting came with a surprising and even unexpected rate cut which caught of many analysts unawares. The rates had stagnated at 14% for over three years. Even Godwin Emefiele, the chairman, who is also CBN Governor, had reported hinted that the rate could stay same (READ MORE).

That notwithstanding however, the rate cut was long expected and overdue, if only to reduce cost of funds and propel economic activities that will drive the needed growth of an economy which has been foot-dragging and performing below capacity for several years. Investdata believes that even if this 50 basis points cut from 14% to 13.5% is small, it is a good attempt at gradually boosting economic activities necessary to impact positively on businesses and companies listed on the exchange.
We agree that this move may not immediately impact flow of funds significantly, with time and if the rate is further reduce to 12% or below we could begin feel the reverberation in the improved well being of Nigerians.

Meanwhile, trading and investing sentiments in the equity market is likely to continue its oscillation, despite its undervalued state at the moment. The expected economic recovery will be slow in the short term, a situation that may not support surprising earnings expectations immediately. It will however influence corporate performance positively, especially if government policy and economic reforms will complement this monetary policy move by givng the economy a new direction.
The NSE Index opened Tuesday’s trading on a little upside in the morning but pulled back between midday and early afternoon, before retracing up in the late afternoon. This was after touching intraday low of 31,007.76 basis points from its high of 31,094.87 points to finished the day flat at 31,038.86 on a very low traded volume.

Tuesday’s market technicals were negative and mixed as volume traded remained lower than previous day’s in the midst of negative breadth and mixed sentiment, as revealed by Investdata’s Daily Sentiment Report, showing sell position of 64% and buy volume at 36% on total daily transaction volume index at 0.49.
The momentum behind the day’s market performance were weak, but marginally up as shown by money flow index at 13.22 points, from previous day’s 12.92bps. This indicatesthat funds entered some stocks and the market. The rate cut may expectedly to support liquidity in the equity market.

Index and Market Cap
The benchmark NSE All Share index (ASI)on Tuesday shed3.46bps to close at 31,038.86bps, from an opening figure of 31,042.82bps, representing 0.01% decline; while market capitalization gained N94.97bn to close at N11.67tr from its opening value of N11.58tr, representing a 0.82% appreciation in value. Thisresulted from the listing of Lafarge Africa right issue that was 100% subscribed.
Attention: Join Investdata buy and sell signal setup to get all our in-depths analysis on the picture and to get access to our carefully created watch list. 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 earnings season and beyond.
The day’s downturn was driven by selloffs in medium and high cap stocks like Nigerian Breweries, Nestle, Presco, PZ, Guaranty Trust Bank, UBA, FCMB, Wema Bank, Honeywell and Transcorp. This impacted on Year-to-Date loss, extending it to 1.25%, while market capitalization gain, resulting from the new listing came to N49.58bn, or 0.42%, from the year’s opening level of N11.72tr.

Mixed Sector Indices
The sectoral performance indexes were largely bullish, except for NSE Banking and Consumer Goods that closed red,reflecting profit taking in GTBank, UBA, FCMB, NB, PZ and Nestle. Also, market breadth was negative with decliners outnumbering advancers in the ratio of 20:18.
Transaction volume and value were down by 14.84% and 55.32% respectively to 143.71mshares worth N1.68bn, from the previous day’s 168.72m units valued at N3.76bn. Volume was driven by financial services, conglomerates and consumer goods stocks like: FBNH, Access Bank, UBA, Transcorp and Vitafoam, Cadbury and Consolidated Hallmark Insurance were the best performing stocks, topping the advancers table with 9.60% and 7.41% gains respectively to close at N10.85 and N0.29 per share on market forces. On the flipside, Wema Bank andPresco lost 6.25% and 5.15% respectively, closing at N0.75 and N64.50 each, on profit booking.

Market Outlook
We expect a marginally up market today, on the outcome of MPC meeting and likelihood of more earnings reports pouring in as the March 31, 2019 official deadline for companies with December 31, 2018 year-end earnings reporting season draws to a close on Friday.
Investors look to government’s policy direction as the market faces low liquidity problems in the ongoing earnings reporting season, vis-à-vis market and economic fundamentals.

Given the drop in the prices of major blue chips in recent times, creating entry opportunities, we expect speculative trading to shape the market direction going forward.
The volatility witnessed last week, was driven by traders and investors repositioning ahead of dividend declaration by major listed companies.
The ongoing volatility will continued as investors and fund managers rebalance their portfolios, with eyes fixed on political space and ongoing full year company earnings position and post-election market dynamics. Investors should review their positions in line with their investment goals, 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 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.
Meanwhile, we greatly appreciate participants in the Abuja Invest 2019 Post-Election Bulls & Bears held on Saturday, March 23.
The investment education train moves to Port Harcourt, Rivers State, with Chart Summit 2019!

Attend the Practical Conference on Technical Analysis Application on stock market for novices and Advance Traders, where we would take participants through:
•Understanding the momentum behind current equity movements and when to exit using SIMPLE Technical Indicators and Tools to avoid losing capital and profit.
•Understanding the dynamics of Technical Analysis and its application in stock, currency and bond markets.
•Our team of experts and time-tested resource persons will show you how you too can successfully and confidently trade and invest in stocks profitably on your own, from your phone, laptop and/or Personal Computer.
•Know what Smart Money is doing
•Know what they are buying or selling, and
•How you can buy what they are buying.

The workshop is scheduled as follows:
FEE: N10, 000
DATE: April 13. 2019
TIME: 10am – 4.00pm
VENUE:Emerald Hotel, 193, Aba Road Rumuola, Port Harcourt, Rivers State.

This Summit is designed specifically for those who:
•Jump off profit position out of fear
•Suffer indecision in pulling the trigger for fear of sustaining a loss
•Holding on to losing positionsfor fear of realizing a potential loss
•Trading often leads into unplanned trades for fear leaving money on the table
•Do small trade size or invest small amounts because you’ve just suffered huge loss, or
•Plan to increase your position size to make up for past losses

This practical workshop is for novice traders, investors, professionals and fund managers who want to overcome fear and improve their trading performance. The workshop is basically on practical charting on evidence-based techniques that is working in today market, just as the power of focused trading and investing strategies to help participants build mental skills and turn fear into profits, besides protecting capital.
Registration is ongoing
Prepare yourself to profit from the market, as the economy recovers in the months ahead, while truly achieving financial independence and freedom in 2019 and beyond. There will be Home Study Packs you can play and view on your phone, laptop and television sets that will teach, among others: Stock trading/investing, Fundamental/Technical Analysis on sale at the venue. All at 20% discount for participants.
Also, Come With Your Laptop for the practical sessions.

TAKE ACTION
The difference between you and others who are not aware of what I am sharing with you is ACTION. Take action that will transform your life throughout 2019 and beyond by getting the just concluded and life transforming INVEST 2019 TRADERS & INVESTORS SUCCESS SUMMIT Home study pack (USB) that you can play on your phone, Laptop and Television set. The event, which held on Saturday, December 8, 2018, was yet another successful, insightful and educative outing that not only offered direction as to where investors should look for a profitable trade in 2019, insight into industries, sectors and companies to seek worthwhile returns. What stocks should you buy? Grab the pack for the 10 Golden Stocks with possibility of offering in 2019 multiples of what broader stocks do, coming out of this market correction environment.
Don’t sit on the Fence call or text 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/2019/03/investors-may-react-to-cbn-rate-cut-await-new-policy-direction-amidst-low-liquidity/

Investdata Daily Sentiment Report as at March 2th, 2019

NSEASI buy 32% sell 68% MFI 12.92
Access buy 14% sell 86% MFI 83.03
Aiico buy � volume index 1.67 MFI 42.22
Ccnn buy 0% volume index 1.34 MFI 47.03
Dangcem buy 0% MFI 4.61
Dangflour buy � MFI 81.84
Eti buy � volume index 0.91 MFI 62.76
Fbnh buy 0% volume index 0.83 MFI 63.06
Fcmb buy 33% sell 67% MFI 29.87
Fidelity buy 28% sell 72% MFI 47.07
GT buy 0% volume index 2.33 MFI 70.12
Honyflour buy � volume index 0.77 MFI 31.41
Lasaco buy 0% MFI 42.67
Nascon buy 0% volume index 2.60 MFI 32.20
Nem buy 0% volume index 2.48 MFI 45.41
Npf buy � volume index 1.70 MFI 56.80
Oando buy 0% volume index 1.08 MFI 45.67
Presco buy � volume index 15.52 MFI 0.00
Sovereins buy � MFI 73.77
Transcorp buy 0% MFI 52.88
Uba buy 67% sell 33% MFI 38.67
Ubn buy � MFI 68.48
Ucap buy 25% sell 75% volume index 1.14 MFI 77.15
Zenith buy 0% volume index 0.92 MFI 55.79

https://investdataltd..com/2019/03/investdata-daily-sentiment-report-as-at_27.html

We Really Appreciate You

With our deepest appreciation, we want to thank everyone that participated in the InvestData 2019 Post-Election Bulls and Bears Workshop on Saturday 23rd March, 2019 at Chida International Hotel, Plot 224, Solomon Lar Way, Utako District, Abuja

However, for those who did not participate, we also thank you for your response. That is for giving us the feedback that you won't be around because of some commitment that have been agreed on prior the date of the seminar.

Finally, just like we did for Abuja, we will also be at PortHarcourt on the 13th of April, 2019. REGISTRATION will open soon. Be ready to take your 2019 investment by the horn.

Dedicated to Your Financial Success
Ambrose Omordion
https://investdataltd..com/2019/03/we-really-appreciate-you.html

Hello Investors,

The, buy & sell signal for this week have been posted on the membership site for you. Pls click on the long link for this week download.

Furthermore, you need to login on the membership site before you can have access to it.

Kindly click on the below link now to login with your username and password

http://investdataonline.com/buy-sell-signal/

To Your Success
Investdata Consulting.

P.S. You need to act fast. You know time wait for now.

SEC Begins Talks With CBN On Margin Lending, Inclusion Of Bank Shares

The Securities & Exchange Commission (SEC), at the weekend said it has commenced talks with the Central Bank of Nigeria (CBN) as part of efforts to fine-tune issues related to margin lending in the nation’s capital market.

Addressing newsmen on Friday in Lagos on the deliberations at the 2019 first quarter Capital Market Committee (CMC) meeting held on the previous day, Ms. Mary Uduk, acting director-general of the SEC, reported that deliberations are however “still ongoing on the inclusion of bank shares in the margin list.”

Investopedia defines margin lending as a programme through which institutions “allows an individual to borrow money for the purposes of investing it. The amount of credit loaned is based upon the amount of assets held by the borrower, which are pledged as collateral on the loan. This programme is often used by individuals who want to invest more than they currently are investing, and are willing to take on the risk of this type of loan.”

Investors with a margin accounts can borrow up to 50% of the total purchase price of marginable investments, with each brokerage firm having “the right to define which investments among stocks, bonds, or mutual funds can be purchased on margin.”

The quantum of margin loan was estimated at between 30 and 40% of the approximately N1tr non-performing loans level in the country in 2010, a time there was no guideline regulating the practice by the SEC, CBN or the Nigerian Stock Exchange (NSE), following which most of the parties adopted different measures.
In the height of the stock market meltdown around 2012, then Finance Minister and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, announced a forbearance of about N22.6bn granted on margin loans of 84 stockbrokers.

As part of re-energising nation’s the financial system, the Asset Management Corporation of Nigeria (AMCON) purchased the margin loans with assets or collateral having an underlying value of about N19.96bn in current value for about N42bn
Addressing journalists at a workshop in December 2011, Tunde Adeyemi, Financial Analyst and the Managing Director (MD) of DHTL had noted that a total of 17,800 clients and 274 Stockbrokers collected margin facilities from banks, with the Economic and Financial Crime Commission (EFCC) hounding the stockbrokers.

He lamented that the banks aggravated the extent of the market crash by hurrying to sell the stocks in their custory under3 the order of Sanusi Lamido Sanusi, the then CBN Governor,.

Under such situation, Adeyemi wondered: “How do they want us to make money? For instance some shares we bought at certain prices have drastically reduced; may be a share of N44.00 is now trading at N13.00. We know the price will surely go up again and they are saying no. They don’t even want the 70% they contributed; but the total money.
“We requested the banks to handle the issue properly; borrowing money is not a criminal offence, in this case, we were in partnership that is what the Offer Letter said. This is the reason, the case still lingers at the EFCC; all that is needed to be done is for the EFCC to call a meeting and we discuss, like I said earlier is a partnership. These are civil cases and that is why the Capital Market will not rebound; until the issue is settled” he said.

Also at last week’s CMC meeting, Ms. Uduk said participants acknowledged the success recorded in the dematerialization exercise, while advocating that implementation of the initiative which is now restricted to shares of listed companies be extended those of of unlisted public companies.

This, they believe, “would enhance liquidity and ease market processes.”
The SEC, in a statement, also promised an interesting year 2019 for the Nigerian capital market “as we shall undertake a review of the 10-year Nigerian Capital Market Master Plan.

The review would “align the master-plan with current realities on macroeconomic, political and market development fronts.”

Photo Caption: Acting Director General, Securities and Exchange Commission (SEC), Ms Mary Uduk (2nd right) addressing newsmen in Lagos on Friday on the outcome of the Q1 Capital Market Committee (CMC) Meeting. With her are: Vice Chairman Association of Stockbroking Houses of Nigeria, (ASHON), Akinsola Akeredolu (left), Acting Executive Commissioner Corporate Services, SEC, Henry Rowlands, and the Acting Executive Commissioner Corporate Services, SEC, Isyaku Tilde.

https://investdata.com.ng/2019/03/sec-begins-talks-with-cbn-on-margin-lending-inclusion-of-bank-shares/

Investdata Corporate Actions As At Friday, March 22, 2019


https://investdata.com.ng/2019/03/investdata-corporate-actions-as-at-friday-march-22-2019/

May your marriage last till old age. May honey not finish in your moon.

LET HIM GO!

Whether virgin or not, we all have our pasts, marry someone who can accept your past and love you just the way you are.

There are virgins who have stolen or fought dirty in the past, no matter how strong your virginity is, some men can't marry an ex thief or street fighter.

There are non-virgins more gentle than lambs and will never hurt a soul that some can't marry simply because she has no hymen.

No one is a saint! "For all have sinned..." is what the Bible says. Marry someone who understands your past, believes in your future and accepts your today just the way you are.

Baby, if he can't do all these and you can't be yourself around him, loose him and let him go. HE IS NOT YOUR HUSBAND!
© Seun Oladele.

NO EXCUSE!

When I was single, I like every where to be in perfect order before I prayed. My bed well laid, my chairs and table well arranged. Television and video off, no food on the cooker, light off and get enveloped in a nice sweet communion with the Lord. Worship song, speak in tongues, pray, read my Bible, pray, speak in tongues, worship the Lord and round off.

Marriage has changed my routine. If I chose to try that in marriage, my spiritual life will die a painful death! With my first son very active and always asking endless questions from morning till night and my second son always chirping, disturbing his brother who keeps reporting and shouting in his high pitch soprano voice and the endless demand for food: breakfast, lunch and dinner plus snacks in between talk less of the toilet and bathroom demands, house chores, personal business, projects, vision and ministry and then yes, giving the President of the Adewunmi Oladele country his due attention, no more time for spiritual exercise but THAT IS NOT AN EXCUSE!

The Bible says "pray without ceasing", "pray at all times..." Marriage is beautiful. It makes our lives better not worse! It's not an excuse to go into the cooler at all. We must keep growing. Our relationship with the Lord must get deeper, higher and wider so every avenue to pray must be explored.

I now pray anywhere I'm chanced. While my son is eating, I pray. Admist my toddler's chirping which provides the background music to my prayers, I pray. I tell my first son to keep quiet when I'm praying and pray. Now, he joins me voluntarily to pray too. In the kitchen, on the road, in the toilet, bathroom, anywhere I'm free, I pray.

Every time I see Bible apps, I download different versions on my phone and read. Hubby plays audio bible we listen to every morning instead of the sad news raking the country! I listen to audio Bible on my phone too.

When singles tell me they struggle to grow spiritually, I just wonder what they use all the time to do.

Now is the time to maximize your time with the Lord, there is no excuse for spiritual death. Don't wait for a perfect time. There is no perfect time any where! Don't wait till you are on the mountain. Don't wait till you are in church. Pray every time and every where. Pray on the road with your eyes opened. Pray in the bus in your heart, pray in the toilet, bathroom, market and everywhere. Keep your heart in tune with the Lord. Enter 2018 with your heart filled with the Lord's presence. You don't have to be a spiritual super star or pray for several hours before the Lord hears you. As long as you have faith and your heart is in it, you will grow. From 1 minute prayers to 5 minutes to 30 minutes and to hours, one day you will look back and realize you are no longer where you used to be spiritually.

May your spiritual life never die with marriage! Jesus always cares. God bless you. Cheers!
© Seun Oladele, 2017; reposted, 2019.

Africa Prudential: Robust Earnings, Juicier Dividend Payout, Happier Shareholders


African Prudential Plc, the only listed company offering share registrar and related services in the country, recently presented its scorecards for the full-year ended December 31, 2018 to the Nigerian Stock Exchange (NSE), exactly same date it laid that of 2017 before the market. This has stood the company out among the early filers that enable investors make proper investment decision and projections in good time.
A major highlight of the report was the impressive dividend payout on the strength of its strong performance, despite an unstable financial market environment and economic situation as reflected by the mixed economic data released in recent times.

It must be noted that the company’s decision to diversify its operations and ensure achieve long term sustainability and viability that would support its price on the exchange, thereby creating value for all stakeholders continues to reflect in the numbers. The strategic rolling plan and projection of Afriprud should guide long term investors, given management’s efforts to meet and surpass forecasts, which have started manifesting in the 2018 quarterlies and full year figures. The company was able to consolidate its solid performance, regardless of the challenging business environment.

Its robust technology driven product innovation and marketing helps deliver satisfactory services in an efficient manner, while ensuring improved cost and risk management as reflected in the profitability ratios.
In the period under review, revenue gained 35.24% from N3.32bn in 2017 to N4.49bn, driven by the diversification efforts, as well as transactions from the core service area as a leading and proactive registrar in the nation capital market.
Within the period also, profit after tax was up by 14.04% to N1.95bn, from N1.72bn in 2017, which produced Earnings Per Share (EPS) of 98 kobo from the previous year 86 kobo, notwithstanding the high credit loss, as finance cost and operating expenses which resulting from continued expansion and new product development that impacted profitability level.
The uptrending earnings and fundamentals supported its price between the February 26, 2018 released date for the 2017 financials and this year, despite the down market in 2018.

The stock is currently selling at discount below its book value of N4.30and Price to Earnings (P/E) ratio of 4.96x against 6.05x in 2017 to reduce investors’ waiting period on improved earnings recorded by the company. Retained earnings for the period also improved by 21.27% from N4.89bn in 2017 to N5.93bn.


Valuation/Recommendations
The company’s impressive and improving numbers remain points of attraction, despite the unstable global and domestic financial markets.
The 2018 scorecard indicates where the company is headed, especially by the time the new businesses are further consolidated upon in the course of ongoing financial year.
The current Book Value at N4.30 and profit margin of 43.54%, is the highest so far in the market at the moment, and signifies that the stock is undervalued at the current market price on the strength of its P/E ratio of 4.96x. This is okay, just as the current Dividend Yield of 13.16% is attractive and above the nation’s inflation rate.

The consistency of dividend payment by the company over the last five years is another point of attraction, given that it reveals the potential in the company, in relation to economic and business development.
Based on this reality, we recommend BUY for medium and long-term investors.
Also important to note is the company’s relatively small outstanding numbers of share, a plus judging by the fact that 70.12% of the shares are in the hands of corporate bodies and institutional investors.

Technical View
Africa Prudential’s price action reveals a pullback as it was adjusted for dividend recommended by the directors in the 2018 financials, breaking down the lower line of the rising channel that was uptrending late last year. This was until the recent markdown that created buy opportunities within the strong support level of N3.50 to N3.68 per unit ahead of its 2019Q1 results.
Traders should be on the lookout for support price that would offer new entrance as reversal is imminent at the second support price of N3.58 per share. The strength of the trend is strong as ADX is above 20 reading 21.18

History
Africa Prudential Plc was established in 2006 and listed on the exchange in 2013 to provide share registration service. The company is a technology–driven Capital Market Investment Mediator (CMIM). It was fully owned by United Bank for Africa Plc before being quoted on the NSE, thereby becoming a publicly owned company with many shareholders. Its standard-delivery service for corporate organisations in the primary and secondary sectors of the capital market has always been its strong performance.
Its 31 years of share registration experience in the Nigerian Capital Market has afforded the company opportunities to participate in various offers, including Initial Public Offerings, Right Issues, Debentures, as well as corporate and government bonds. But recently diversify its business to generate more income.

Performance Analysis
A look at the company’s five-year performance shows oscillating trend that reflects the changing economic situation which slowed down in 2016, before rebounding marginally in the following year, before the ongoing back and forth movement supporting the company numbers that supported the 42.86% dividend growth for the period.
Financials for the period under consideration reveals that the management has surpassed its forecast and projections four times in the last five years.

Within the period, for example, Afriprud has consistently grown gross earnings and other performance indices, just as revenue for the period grew by 112.17% to N4.49bn, from N2.11bn in 2014.
Profit for the period was up from N1.22bn in 2014 to N1.95bn, representing 59.84% increase, after recording the lowest net profit of N1.02bn in 2016. The commitment of management to grow earnings and manage cost as reflected in its profit margin for the review period is above standard, both international and domestic environment.

Net assets on the other hand, currently stand at N8.6bn, from N4.53bn in 2014, revealing a five-year uptrend. The company’s dividend payout has been a function of its improving earnings for a period, bringing total dividend payment to N2.15, which is above the company’s listing price in 2013. This means that investors that took position in the stock at the time have recouped their entire investment from dividend paid alone, not considering capital gain. What better way to eat your cake and still have?


Estimated Performance Ratios
The company investment and efficiency ratios during the period under review have been unstable, while revealing its positive position as the amount earned by investors and management were higher at 98 kobo from 61 kobo in 2014. It however slowed down to 51 kobo in 2016 as shown in the table below. This is a reflection of the company’s strong earning power in an unstable risk business environment.

Its price earnings ratio is still good at the current estimate of 4.96x from a high of 6.05x in 2017. The last full year EPS is a yield of just 20.17% of the market price as of the release date after recording a steady Earnings Yield growth from 19.34% in 2014 to the highest in 2015 at 27.95%. With the recent Dividend Yield of 10.33% as at the price on released date, Book Value for same period ranged from N2.26, N2.29, N2.28, N3.47 to a high of N4.30 in 2018, which supported higher retained earnings.
Putting this ratio and the market price of the stock side-by-side signals an opportunity for short investors, no matter whether they are short or long-term players.
Profit margin over the years have improved as management effectively controlled cost to boost profit, suggesting that in every one naira income generated 44 kobo is a net income.

https://investdata.com.ng/2019/03/africa-prudential-robust-earnings-juicier-dividend-payout-happier-shareholders/

Expect Mixed Performance, As Investors Await More 2018 Earnings Reports

Market Update for March 21
Thursday’s trading activities on the Nigerian Stock Exchange (NSE) was again very volatile and mixed, closing lower as the composite index extended its sixth consecutive day losing streak on a positive market breadth and low traded volume.
The continued decline was widened due to price adjustments of Seplat Petroleum Development Company and Stanbic IBTC Holdings for dividend declared by the directors, as well as profit booking in banking stocks.
After the trading session Julius Berger 2018 full year earnings report was made available with final dividend of N2.00, showing impressive numbers which the market has not reacted.

The NSE All-Share index gapped down at the opening session and was down nearly all day, gapping down in large wedges and eventually closing to the downside. Only in late afternoon did it retrace up marginally.
It is however noteworthy that the index touched intraday high of 31,077.89 basis points before breaking down the psychological line of 31,000bps to a low of 30,856.23bps, before finally closing at 30,885.31bps which is the recent low. The market pull backs are consolidating on 5-wave decline extension at the close of the day trade.

Thursday’s market technicals were negative and mixed as volume traded was higher than previous day’s in the midst of positive breadth and high selling pressure, as revealed by Investdata’s Daily Sentiment Report, showing sell position of 87% and buy volume at 13% on total daily transaction volume index at 0.74.
Forces behind the day’s market performance were weak, even if slightly better than the previous session, despite the down market as shown by money flow index at 24.24 points, up from previous day’s 23.55bps, indicating some buying interest in low cap stocks and the rate of funds exiting slowing down.

Index and Market Cap
At the close of the day’s session with the NSEASI shed 115.53bps to close at 30,885.31bps, from an opening figure of 31,040.84bps, representing 0.50% decline; while market capitalization lost N58bn, closing at N11.52tr from its opening value of N11.58tr, also representing a 0.50% further depreciation in value.
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The day downturn was impacted by price adjustment and profit taking in medium and high cap stocks like Dangote Cement, Seplat, Guaranty Trust Bank, FCMB, Zenith Bank, Ucap, and Fidelity Bank. This impacted negatively on Year-to-Date loss, which climbed to 1.73%, while market capitalization loss increased to N143.27 billion from the year’s opening level of N11.72tr, representing a 1.73% decline in value

Mixed Sector Indices
The sectoral performance indexes were largely bullish, except for the NSE Banking and Oil/Gas that were in red due to profit taking in FCMB, Zenith Bank, Fidelity Bank and GTBank, while others were up due bargain hunting in CCNN, Dangote Sugar, Aiico and NASCON even as market breadth turned positive with advancers outnumbering decliners in the ratio of 24:15.
Market activities were up in volume and value by 17.51% and 18.08% respectively to 250.03 million shares worth N2.43bn, compared to the previous day’s 223.66 million units valued at N2.16bn. Volume was driven by financial services stocks like: Access Bank, Zenith Bank, UBA, FBNH and Fidelity Bank.
Sovereign Trust Insurance and Ikeja Hotels, were the best performing stocks, as they topped the advancers table with gain of 10% and 9.62% respectively to close at N0.22 and N1.71 per share on market forces. On the flipside, Campion Brewery and ABC Transport lost 9.68%% and 9.26% respectively, closing at N1.40 and N0.49 each, impact of weak earnings and profit taking.

Market Outlook
Being last trading of the bearish week, expect mixed performance, but as the month of March draws gradually to a close, more 2018 full year earnings reports are expected, just as quarter-end portfolio repositioning ahead of next week’s Monetary Policy Committee (MPC) meeting now that political spending and implementation of 2018 budget have not pushed up inflation as anticipated. There may be a slowdown in selloffs as investors wait to see the outcome of both meetings, as investors look forward to positive economic statement and policy to give direction. Volatility may however continue, as market players adopt the wait-and-see attitude in the face of repositioning for the ongoing 2019 dividend declaration season and relative post-general elections peace to shape market performance in the interim. We advise cautious trading and investing while positioning in fundamentally sound equities.

Volatility will also continue as investors and fund managers reposition their portfolios, with eyes fixed on earnings reports, but investors should review their positions in line with their investment goals, 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 also that investors should 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
Invest 2019 Abuja Post-Election Stock Market Workshop
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Date: March 23, 2019
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1. Outlook for 2019 and Post-Election Expectations
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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/2019/03/expect-mixed-performance-as-investors-await-more-2018-earnings-reports/