₦airaland Forum

dipoolowoo:
Nigeria Orders MTN to Pay $2b Tax Days After $8.1b Refund Request
https://www.businesspost.ng/2018/09/04/nigeria-orders-mtn-to-pay-2b-tax-days-after-8-1b-refund-request/

How does this affect Diamond bank?

Yayira:
I just don’t understand how some people repeat the same thing they’ve said over and over and over. Shm I’ll like to know some of you age here maybe na old age dey worry some of you here..
Market will fall, market will fall how many times you wan talk am ? You no dey taya ?

We all are seeing what is happening in the market and yes it’s falling.. please just follow fall silent too.. na all of us dey this market together

Madam, stubbornness is a quality of the old. Flexibility, changing dance steps when the drumbeat changes and open-mindedness is a quality of the young.

You need to check yourself w.r.t the people you're referring to.

Agbalowomeri:
But you are guilty of the same offence. You keep repeating that 'some people are saying market will fall, market will fall' You no dey tire?

This current bear run will continue. It has been trying to drag down DANGCEM.

If DANGCEM gives way and GT gives way, the market is likely to fall down to 30,000, dragging some stocks with it.

Dupeodus:
They cannot bring a demand for 4.4 billion shares to the market for a company that has only 6.9 billion shares with more than 50 percent in the hands of core owners. The price will shoot through the roof.

This AIICO thing tire me. Let's all remember that these guys raised N11.9bn in 2007. What have they done with it?

I remember Zenth Bank rights issue taking place around 2007/2008 at N35. UBA did a public offer at N37. Ten years down the line we are not anywhere near breaking even on those losses. Not to talk about Intercontinental, Bank PHB etc Oceanic were the shares wen to ZILCH, ZERO.

Let's not forget Oando.

Now, what happened to all that money (In a supposedly tightly regulated banking industry).

Investors have been had by these shenanigans and they have all gone scot free.

Anybody thinking long term should check out Pa Ewumi calculations around 2009 about the long term returns of First Bank. The calcuations looked wonderful then .......But look at it now, all those returns have been heavily truncated in just the last few years.

Long term is a bad strategy in the NSE.

Coolcash1:
It's the failure to install sanity in them by the regulators have made many to run away from the market and those of us still doing business in the market are sleeping with only one eyes closed

I have tried to convince a rich man to also divest its investment by investing in the capital market and he said no way! His reason is not far fetched from the weak governance, corporate shenanigans, market manipulation that we have all identified...

The truth is, if SEC decides to wield the big stick, only 5 stocks will be existing on the NSE....

Agree. The real thieves in Nigeria are the corporate shenanigans. These guys steal more than many politicians.

SEC is a LAME DUCK.

We keep saying we want progress in this country, but how can we progress without good corporate governance.

Deadlytruth:
I never knew I have a longtermophobic brother here. Nice to discover you today.

Long term is risky in Nigeria.

Yes. The uncertainties in Nigeria can continue longer than anyone can remain solvent.

Nigerian companies are frauds for all I care. The best companies in terms of returns have been the ones with significant foreign ownership by big foreign companies that less condone some sharp practices. Sharp practices will land them in hot soup in their home countries.


Corporate misgoverance is the reason why Nigerian companies sell at a huge discount to their assets.

stcool:
https://www.businessinsider.co.za/mtn-investors-lost-billions-in-less-than-an-hour-2018-8

“This is incredibly frustrating. There is no way that MTN would have been able to repatriate such a large amount of money without the central bank facilitating it all."

"This smells like a central bank that is not independent of a government that has big fiscal issues."

"It is very strange that the regulator is ordering the dividends be paid to the central bank and not the company that paid them in the first place,” Chief Executive Officer Rob Shuter said, according to a Bloomberg report."

My people this are very heavy matters arising....a lot of our leaders need to be jailed 4 life. The corruption in Corporate Nigeria especially Govt. owned is higher than even what politicians are stealing. The day NNPC/DPR gets a proper AUDIT they would be revolution in Nigeria.

This will definitely worsen the capital flight that is already ongoing.

Foreign investors are going to start cutting back on putting more money in our stock market because there may be no clear exit for them. This may mean more bears.

mendes911:
They will only pay that "7.5%" when the funds is taken out of the company and back to investors in SA, hence it ought to have been paid before they repatriated the cash.

Company's don't get to pay that WHT on retained earnings.

OK

dipoolowoo:
Yes, it is a refund, not a fine, but when the money is refunded, it would be subjected to tax, which I believe MTN wants to escape.

Agree with you. We all pay 10% tax on our dividends. Maybe they didn't pay theirs, hence one of the reasons for asking them to return it.

stcool:
My fear is MTN will recover all this money Nigerian govt is taking from them during the listing. They may be making plans to leave someday, borrow enough from Nigerian banks and handover shell to our greedy CEO's to finish the rest.

They are not stupid for sure.

You got me there!!!

stcool:
You are very funny... You think people buying diamond bank are doing so because of Uzuoma? No, Its the retail market they command. Uzuoma wont stay there too long.

Uzoma won't be there for long? How sure are you?

alwayshigh:
Should we buy the ones they are buying?

If you bought Diamond yesterday, you would have been in a loss by now.

In my opinion, these guys are net sellers. They are testing the waters to initiate liquidity. Once we start rushing in and the volumes pick up on any stock they are targetting, they'll dump.

Let's not provide the liquidity for them to exit.

maishai:
Y are d pascal edozie companies being badly hit in dis administration

This seems to be a trend. Why? But for the moment, it is better to avoid than be sorry. The full picture of all these deals may emerge soon and may be lead to worse fines for Diamond bank.

Mpeace:
Hmm yhem don dey rush de stock this morning. Just saw two bulk purchases of 90m and 15m units

Was it by cross-deals or normal purchases? Do you know?

ogedanny:
Morning guys, buy NEM Insurance, here is why you shouldn't ignore the stock and my fair value estimate.

See NEM analysis - https://nigerianstockstobuy.com/nem-insurance-stock-price/

Also available on Yochaa App.

Clearly one stock I regret not purchasing more of. It is clearly one of the most efficient insurance companies.

Cadillac15:
Another "I told you so" Id.io.t has been given birth to.

Why does nature always add a Minus after some plus

Lol... It is only a Nincompoop that will call others names because of their opinions which they expressed respectfully.

You're still mentally a child if you cannot refrain from calling others names. This is what you have done several times in this forum over time. This shows that unlike children that grow up and improve, you're still static in this respect.

My advice to you is to go for some language/anger management training.

mendes911:
It's enough please. No one is above mistake. Let's all concentrate and figure out when to return to the market or either pump in more cash (for those still in).

It is with lessons learnt that we grow our experience. Saying it is enough is not enough. The question is: What have you learned?

A fundamental part of the experience has to do with discernment of the recommendations you see here.

My two cents is that when those recommendations are about the NSE and NOT any particular stock, people should consider it because you're sure that one has the least bias and with the least vested interest.

currentprice:
Sorry for the flourmil but the audited report gave the signal to jaaa. and many of us posted alert to jaa

On Skye what make you enter a stock with no result for the past 3 years? MMM

Wheat prices are higher this year by 28%. This further squeezes the profit margins of the entire flour industry in Nigeria, except if they did proper hedges, due to the fact that all of the wheat is imported.

Some of them will surely report losses by year end if wheat prices keep increasing.

Infinitisi:
As more and more of us are getting out of the market to wait for when to get in again, this would be a good time for some of us to brush up on our analytical skills whether you are a TA or FA faithful.

At least you don't have the additional stress of watching your portfolio with one eye. When the market turns around as it will one day, you would be better prepared.

I'm sure our gurus from both sides of the divide can recommend books, websites and other resources to help us do that.

Just my thoughts

Good. I think we should all do that. Nobody knows it all. A fundamental part of beating this market has to do with us collectively beating the foreign investors first. For if they take most of the gains n the market, what will be left for us to profit from.

Yayira:
Now is not the time for all these “we told you guys “ story.
If they did not say it here that they are in the market will you come here and be forming sir-know-it-all ?
Oracle, CP , Agba all came into the market in May after all their warning in February and they all received nice haircut before running out..
Bottom line no one knows it all.. even the Ogas are not exempted.. we learn everyday..

If you are not in the market now, thank your God.
If you came and was able to run out with minimal loss, thank you God and think of how to recover your loss..
Some of us like to concentrate our purchases hereby making it hard for us to jump-out.

Moreover we all don’t have same strategy..
We must not have same trading plan.

E don reach when una go grow up for this page

You see. I'm telling you again it'll go lower but I could be wrong. Please buy more if you think it'll go higher. After all the stock market is just a tool for wealth and losses transfer from one person to another

I never claimed to know it all. Yok has been posting the behaviour of the MSCI Nigeria index. Our market has been mirroring that index since March. Just by looking at his posts I FELT I could see a trend. Like I mentioned in one of my earlier post, I took a massive haircut of 20% in 2013-2014 for not listening to the warnings about how Tapering in US would affect the Nigerian market.

mendes911:
Reversal ko.... I expect the heavy weights to take a beating before any reversal. That's my own expectation ooo, no follow me argue abeg. If am to play any 10%, I will enter the market any day GTB and it's twin does a full offer and take off the following day once there's any twinkle of a bull. That's the key to reversal in this kind of market. This has failed me before though.

Agree with you. The market will take a hell of a beating to at least 30,000 (14% from current levels) before a sure reversal.

This is going to mainly fueled by external factors: Turkey contagion punishing emerging and frontier markets, capital flight to US due to higher rates, 2019 election blues.

Lets not forget the Elephant in the room: the MSCI Nigeria ETF. THEY ARE SELLING HEAVILY AND TACTICALLY.
(1) They sell a massive batch of stocks, price falls
(2) They wait
(3) Price rebounds because we are buying and sell pressure decreased. We see no action on their portfolio and think they are done selling
(4) Liquidity increases (provided by us)
(5) they sell again another massive batch of stocks on us due to the liquidity we provided
(6) They start again from step 1. The cycle continues.

deepsuk:
to all of you so called oracles and analysts who guided people into investing in this shi-t-hole stock market i say to you "IT WILL NEVER BE WELL WITH YOU. GOD WILL PUNISH YOU IN THE WAY YOU HAVE NEVER IMAGINED. YOUR WIFE WILL SLEEP WITH THE DOG AND YOUR CHILDREN WILL SEE DISEASE."


this is on behalf of all the investors you misguided and scammed in to buying shares on NSE.

dey thing don begin dey pain uuuu? From enjoyment to pain. No more lubrication.

Hopefully this will be ur last post on this forum.

35,000. Here we come!

Some were warned but they did not listen. They instead called us alarmists.

Now see what your stubbornness has wrought to your portfolio.

Next time, take your time to consider every advice. Money is not made emotionally. The stock market is not emotional.

.

Yayira:
Everything is wrong especially when the performance of the company is on point..

It isn’t about fundamentals ? Really? What is it about then ?

It should be about fundamentals. I'll very much much like to see it that way but right now it is not about fundamentals but rather it is about country risk.

So many good stocks are trading at low P/Es, and normally I should be buying but you know what? They'll even go lower before going higher because of this same country/election risk.

I remember neglecting the impact of US tapering in 2013 as explained in this forum but instead was clinging to only fundamentals. I was caught in it and paid for it with about 20% of my porfolio.

After the NSE had declined because of the tapering, we were waiting for the expected recovery but guess what? oil prices started declining, 2015 elections came and went, oil prices continued crashing. Good stocks like UBA lost about 70% through all these.

TLAX:
For Notore Enthusiasts, Conference call on-going.

They want to convince people to buy from them at high prices.

@Yayira
There is nothing wrong with predicting that a stock will go down.

Stocks can either go up or down. Why are people only happy when the prediction is in the upward direction?

From Yok's posts, we could all see the handwriting on the wall in the past months: Massive sells from the foreign guys...It's not about fundamentals, it is election fever. If they are selling that much, something will have to give: Prices will go lower.

GT is the biggest component of the MSCI Nigeria index. They haven't been dumping it so much. The price of GT in the next months will depend on whether or not they decide to dump it. It isn't about fundamentals. Same for all stocks in that portfolio.

Do not be caught offside. Better protect yourself.

He who has ears, let him hear.

Jejebabaa:
Corporate Action:

Notore Chemical Industries Plc releases results for the nine months ended June 2018. Revenue dropped from N25.8 billion in 2017 to N20.5 billion in 2018. Loss before tax increased from N3.7 billion in 2017 to N3.9 billion in 2018.


Visit Nairametrics.com for more news.

This stock should be going for N15.

4601CE:

I saw it