₦airaland Forum

ttmax09:
It's simple, they actually are trying to mop up excess money in circulation, and also trying to attract fresh inflow of USD into the economy.

That's the conclusion I came to as well. A Scheme by the CBN to ensure the banks mop up and lock-up some of the excess liquidity floating around in a way that all banks share the burden. The hope i guess is these excess funds would be injected into productive ventures that will lead to the $1T economy. On the fiscal and macro-side a lot of work is still needed to create & support thriving businesses/investments for banks to inject mopped up funds into for the growth of the GDP.

The 2022 Accounts are scheduled to be approved by the Board of Oando PLC on or before the 15th of April 2024 and will thereafter be sent to the Financial Reporting Council of Nigeria for regulatory approval prior to its release to the market. The interim results for 2023 will also be released to the market soon after the 2022 Accounts are published.
https://doclib.ngxgroup.com/Financial_NewsDocs/40697_OANDO_PLC-OANDO_PLC_-PRESS_RELEASE_CORPORATE_ACTIONS_MARCH_2024.pdf

BabsO2:
I get that. That's why I referred to the picture attached first.

I hope it's not the JSE news that made OANDO to lose 75kobo this morning

Oando bargain hunters quickly closed the sell out gap by 35 kobo .

essentialone:
I know the link is an old one. Just a mirror between old and new.

I get that. That's why I referred to the picture attached first.

I hope it's not the JSE news that made OANDO to lose 75kobo this morning

BabsO2:
STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU ESTABLISHES COMPREHENSIVE ECONOMIC COORDINATION AND PLANNING SYSTEM FOR NIGERIA

Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration's collective approach to advancing Nigeria's economic objectives.


Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

March 27, 2024

Perhaps this could support the NGX bull in 2023 and beyond

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU ESTABLISHES COMPREHENSIVE ECONOMIC COORDINATION AND PLANNING SYSTEM FOR NIGERIA

In a strategic move to bolster the nation's economic governance frameworks and ensure robust and coordinated economic planning and implementation, President Bola Ahmed Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET).

The Presidential Economic Coordination Council (PECC) comprises distinguished leaders and key government officials, including:

(1) President of the Federal Republic of Nigeria - Chairman of the PECC

(2) Vice-President of the Federal Republic of Nigeria - Vice-Chairman of the PECC / NEC Chairman

(3) President of the Nigerian Senate

(4) Chairman, Nigeria Governors’ Forum

(5) Coordinating Minister for the Economy and Minister of Finance

(6) Governor of the Central Bank of Nigeria

(7) Minister of Agriculture and Food Security

(8 Minister of Aviation and Aerospace Development

(9) Minister of Budget and Economic Planning

(10) Minister of Communications, Innovation and Digital Economy

(11) Minister of Industry, Trade and Investment

(12) Minister of Labour and Employment

(13) Minister of Marine and Blue Economy

(14) Minister of Power

(15) Minister of State, Petroleum Resources

(16) Minister of State, Gas

(17) Minister of Transportation

(18 Minister of Works

The PECC will also comprise key members of the organized private sector, with the following members joining for a period not exceeding one (1) year, subject to the President’s directive:

(1) Alhaji Aliko Dangote

(2) Mr. Tony Elumelu

(3) Alhaji Abdulsamad Rabiu

(4) Ms. Amina Maina

(5) Mr. Begun Ajayi-Kadir

(6) Mrs. Funke Okpeke

(7) Dr. Doyin Salami

(8 Mr. Patrick Okigbo

(9) Mr. Kola Adesina

(10) Mr. Segun Agbaje

(11) Mr. Chidi Ajaere

(12) Mr. Abdulkadir Aliu

(13) Mr. Rasheed Sarumi

Furthermore, in his determination to address immediate economic challenges and ensure the streamlined execution of economic strategies, President Bola Tinubu has established the Economic Management Team Emergency Taskforce (EET) with a mandate to formulate and implement a consolidated emergency economic plan. The taskforce comprises key government officials and industry leaders in furtherance of the President’s collaborative approach toward achieving economic resilience and growth. The EET is now mandated to submit a comprehensive plan of economic interventions for 2024 to the PECC, covering the next six (6) months, for immediate implementation within two weeks of its inauguration. The EET will meet twice weekly and is composed of the following members:

(1) Coordinating Minister for the Economy and Minister of Finance (Chairman of the EET)

(2) Minister of Budget and Economic Planning

(3) Minister of Power

(4) Minister of Agriculture and Food Security

(5) Coordinating Minister of Health and Social Welfare

(6) Minister of Industry, Trade and Investment

(7) Governor of the Central Bank of Nigeria

(8 National Security Adviser

(9) Chairman, Nigeria Governors’ Forum

(10) Governor of Anambra State

(11) Governor of Ogun State

(12) Governor of Niger State

(13) Executive Chairman, Federal Inland Revenue Service

(14) Director-General, Budget Office of the Federation

(15) GCEO, NNPC Limited

(16) Director-General, Nigeria Economic Summit Group

(17) Special Adviser to the President on Energy

(18 Dr. Bismarck Rewane, Economist

(19) Dr. Suleyman Ndanusa, Economist

The Economic Management Team, established in October 2023, and chaired by the Coordinating Minister for the Economy and Minister of Finance, serves as the working group under the Presidential Economic Coordination Council (PECC), playing a crucial role in the economic governance structure established by the President. The EMT traditionally meets monthly or as required, but will now suspend its meetings for the duration of the EET’s mandate (six months). The EMT is composed of the following officials:

(1) Coordinating Minister for the Economy and Minister of Finance (EMT Chairman)

(2) Governor of the Central Bank of Nigeria

(3) Minister of Budget and Economic Planning

(4) Minister of Industry, Trade and Investment

(5) Minister of Communications, Innovation and Digital Economy

(6) Minister of Works

(7) Minister of Labour and Employment

(8 Minister of Agriculture and Food Security

(9) Minister of State, Petroleum Resources

(10) Minister of State, Gas

(11) Minister of Power

(12) Minister of Transportation

(13) Minister of Aviation and Aerospace Development

(14) Minister of Marine and Blue Economy

The Chairman of the EMT may, as needed, call on any Federal Minister or Head of Agency to brief the EMT on key programmes and developments affecting the economy.

The President's formation of the PECC, under his Chairmanship, alongside the creation of the EET, led by the Chairman of the EMT, and the EMT itself, is the manifestation of a unified strategy aimed at enhancing Nigeria's economic management architecture for verifiably improved performance. The formation of these teams will complement existing economic governance structures, including the National Economic Council (NEC), which is chaired by the Vice-President.

Over the next six months, the EET will focus on the rapid implementation, monitoring, and evaluation of critical initiatives, strengthening the Tinubu-led administration's collective approach to advancing Nigeria's economic objectives.


Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

March 27, 2024

Nice market today, Good to see billions invested in GTCO, ZENITH, ACCESS & UBA today. FBNH recorded billions already last week so not bothered today is short of billion. Access is out with a big leap in FY compared to Q3 similar to the unaudited FBNH leap. Good seeing big funds already positioning in FUGAZ before the complete release of audited 2023 FY results.

essentialone:
On OANDO Plc

Similar to 2017

https://www.premiumtimesng.com/news/headlines/246648-oando-crisis-worsens-as-firm-is-suspended-from-johannesburg-stock-exchange.html?tztc=1

One trading day left for this month. We'll see if NSE reacts to the JSE letter in the picture . The above link is an old one.

KarlTom:
Today's market was so-so

Sideways trading as investors await FY audited results of Banks approved by CBN as well as the outcome of the ongoing MPC meetings amongst other data to gauge the future of z market.

crownprince2017:
Even as small as I am, I can comfortably give 20% without loosing my sleep every year for that long in this Nigeria. If 20% is a big deal I shouldn't be in the stock market.
Nobody that is earning money legitimately as an entrepreneur will choose fixed income over equity. especially, 20% for that long.

Not everyone has time or competence to monitor companies and stockmarkets. They'll rather keep their money in fixed income instruments. And advisors always recommend a mix of instruments for various individuals to suit their temperament.

KarlTom:
100%.

It will shock you to know that many wealthy Nigerians (home or abroad) do not do stocks but prefer fixed instruments...

You may be right I don't know. A lot do have their money in the NGX in the businesses they run (directly or indirectly) and many others like NSEMPA people have a chuck of their portfolio in NGX. See current NGX top investors in the attached picture

crownprince2017:
For the fact that FPIs does it doesn't make it right, may be they believed exchange rate will be more when they want to repatriate at maturity. I sincerely doubt they based their projections based on that 20% alone for that long looking at the past trends.

The discussion is not about wrong or right. But about market opportunities and options.

Nigeria has a lot of untapped comparative advantages waiting to be tapped. Nigeria is an emerging market. If the anticipated growth scenario of unleashing growth occurs Nigeria should be earning far more forex than it currently earns with an unleashed GDP. In this scenario the stock market will grow exponentially or at least massively and the exchange rate will be stabilized like it happened for South Korea decades ago.

crownprince2017:
What will be the value of that 20% in 7 or 10 years to come, it's almost certain that the time value of the money will be eroded looking at the trend. Every mallam with his kettle.

Individuals and Fund managers balance their portfolio somehow as no one is certain of the future.

For example, I understand FPI's bought 79% of the fat N1T FG bonds sold in Feb 2024. These were the 2031 & 2034 bond debuts. Definitely they made their calculations, took their risks and injected the $$$'s into NGN bonds with hope of profit .

https://guardian.ng/news/foreign-investors-buy-79-of-oversubscribed-cbn-bonds/

Picky1:
Thank you Bros! Please looking at the JUN 2038 and JAN 2042 which will you invest on and why?
Not trying to derail the thread.....
Note: Also good ideas are welcome from members!
Too many calculations....to find kudi no easy o

A bargain hunter will chase the 2031 & or 2034 to get a yield of 20% yearly as implied for the next 7 or 10 years. Those targeting cash flows at specific months may choose those that align with their desired month. Won't be surprised some long-term investors may be tempted to sell DS or other stocks to lock-in a fixed 20% income yearly.

Frangel:
Earnings Per Share (EPS)
This almighty metric, I see folks refer to most times, does not necessarily show the financial health or performance of a company. It is the easiest to manipulate/distort. To create an impressive EPS, management could ship-out products/services towards year end to create higher-than-normal sales, which will eventually add to the bottomline from which EPS is derived. Other forms of financial abracadabra could include suppressing expenses or losses, etc. BunmiOni's Cadbury comes to mind.

It is advisable to also look at the Statement of Financial Position (SFP), pay attention to the shareholders' fund and its components, level of gearing, etc. Also, look at the notes to the accounts for details of some unusual items in the P&L and SFP, in addition to other news about the company.

I often advise that sustainable investing in shares is more of a marathon than a sprint.

PS: Above might not be too relevant to those focused on TA or unorthodox approach to investing.

For Banks and a few companies that have financial instruments, the EPS based on PAT doesn't represent the full value of accrued benefits to shareholders compared to comprehensive income per share (CIPS). And it is the comprehensive income that shareholders are entitled to that gets added to shareholder funds. FA Bank investors, need to pay attention to CIPS also, along with EPS & the shareholders' fund and its components.

sky2891:
I doubt if they will until the dust settles.
They need something to spike the speedy movement of the price after the delisting saga is settled.
My opinion

That will be a good move.

ndept:
The date for the oando court case is April 17, still much time.

So three more weeks to go. Let's see if it will make a new pre-court outcome high. And breakaway thereafter Or come back to a new higher low. Made dem do quick release 2022 & 2023 financial statements.

Locotrader:
Expect 20-25% upside from oando by next weekend. I smell minor bull in the stock starting from Monday.

If the court case ends by chance this time around it will be breakout from the gbelo gbebo

Locotrader:
Una Don plan for another price push up as court case is approaching. I won't be surprise to see oando around #15 region before court case.

You mean another push up cycle may be coming. The price in the last one or two weeks have averaged around 11.4
It will do as if it wants to go up, then offers will start coming in trickles again pulling the price down. While all the time demand is always more than offers with people demanding at much lower prices

thebargainhunte:
Oando faithfuls

https://www.google.com/amp/s/nigerianobservernews.com/2024/03/edo-oando-to-generate-175mw-wind-energy-for-industrial-clusters/%3famp

Good Oando/Edo state news.
Nigeria needs good success in expanding electricity generation sources and capacity. Make Wale forget the buy out. Make buy out no happen.

FBNH Board Appointments.

Looks interesting.

https://doclib.ngxgroup.com/Financial_NewsDocs/40573_FBN_HOLDINGS_PLC-NOTIFICATION_OF_RECENT_DEVELOPMENTS_IN_FBN_HOLDINGS_PLC_CORPORATE_ACTIONS_MARCH_2024.pdf

yMcy56:
ZENITH @39.10
FBNH @37
Baton changed hands again.....

Profit takes no gree Elephant beat Zenith

Streetinvestor2:
Watin happen. That means thr could be hope for oando shareholders. Has sec changed management or Pz bribe was not large enough...naija my country .You want to pay #23 for something that is now #40 on nse

Let Oando price climb up to safegaurd the hope double fold.

A very high buy out price if it must happen which is going to be challenged by shareholders who want to benefit from the turnaround. Any buyout short of the highest PO with time value of money interest must be rejected.

Outright cancellation of the buy out. Those that want to exit can sell on NGX. Oando currently top quartile in terms of value of transactions on NGX so those that want a buy out or want to leave can still leave. While those that want to stay can enjoy the turnaround in full.

BabsO2:
There is a long queue of offers waiting for the FBNH bull at various junctions
Make the FBNH bull no gree especially for the bearish offers that are below last closing price.
At least let FBNH keep Zenith below it while preparing to catch GTCO.

Chai the FBNH bull could not clear the long queue with 38million units swallowed today. What a long queue of Shareholders wanting to lock some profits.

Streetinvestor2:
I thought cbn said this banks should be gearing up for recapitalisation. Whr is access getting the capital for all this acquisition if thr base has gone down because of exchange rate.
It looks this is the way top management of access is using to steal from itself. The next is to be booking losses from operations of the overseas branches

Acquisition if done well is expansion and growth in capital base. It's paying of dividends that depletes capital of a bank. So banks need to balance paying too much in dividends with organically growing their capital base from retained profits.

dapix:
FBNH no wan gree for anyone o

There is a long queue of offers waiting for the FBNH bull at various junctions
Make the FBNH bull no gree especially for the bearish offers that are below last closing price.
At least let FBNH keep Zenith below it while preparing to catch GTCO.

maishai:
Ogami, if u Don tey for this market, these are extremely high prices, all figures on my portfolio are extremely green

Like I say, I'm locking my profits in money markets......

It took years of bear markets to get here ..........

All our fundamentalist have gone asleep

Many bought fbnh that is making rounds here circa #5( more than 800% profit)

Biko I no border my brain but I'm still in d market though I'm selling my wares not buying

My average for FBNH before I started selling small small was N5
Due to devaluation, the so called high prices of banks is not real. As the prices are better underpinned by book values and EPS unlike previous peaks. So there are probalilities for further upsides if impairment charges do not create much damage. Also if all these examinations do not turn up something bad. https://moneycentral.com.ng/exclusive/article/panic-in-banks-as-cbn-sends-special-examiners-over-n20trn-owner-related-loans/

Streetinvestor2:
With this figures. Do you think fbn could surprise the market with dividend of like #3.00. Since ote is now the chairman and knows how to share the money

N2 to 4 looks doable. I will not be surprised if N3 is paid. I will only be surgrised if less than N1.5 is paid.

BabsO2:
I am wondering too what is happening in FBNH. My suspicion is it is not about results beyond what has already been released as unaudited 2023 FY. That unaudited result indicated a book Value of N47, EPS of N 8.56 and Comprehensive Income per Share of N 20. Ideally the EPS should be repeatable year in and year out going forward with increments sef. While the Comprehensive per share suggest a mark of N12 per share from forex gains (Realized & Unrealized) at (perhaps exchange rate of +/-N850) Hence Ote$ or another major investor see's the bank as grossly undervalued and is taking his or her position and in the process bringing out the correct valuation in the market.

Any one selling FUGAZ and the others right now, thinking they will tank because of high interest rates in the money markets may regret it.
FBNH looks juicy though for small profit taking.

Streetinvestor2:
The big question is what is behind fbn rise.Is it possible the result coming or manipulation by otedola and Co.I don't want to see fbn fall back to #20 plus if thr is no serious FA backing this result
I am so tempted to japa from fbn then something else Is saying wait and see result/dividend declared
BE here na #6 plus

I am wondering too what is happening in FBNH. My suspicion is it is not about results beyond what has already been released as unaudited 2023 FY. That unaudited result indicated a book Value of N47, EPS of N 8.56 and Comprehensive Income per Share of N 20. Ideally the EPS should be repeatable year in and year out going forward with increments sef. While the Comprehensive per share suggest a mark of N12 per share from forex gains (Realized & Unrealized) at (perhaps exchange rate of +/-N850) Hence Ote$ or another major investor see's the bank as grossly undervalued and is taking his or her position and in the process bringing out the correct valuation in the market.

debeey87:
Why do you think Tony and family bought back into transcorp last year. Whatever they sold at the time that post was made must have been bought between the time Otedola almost did a hostile takeover and when customs street told us here that some large purchases will be made at about 6-7 naira all within last year.

Searching further Ote$ was even in Transcorp from the beginnings.
Looks like the company passed through various phases of uncertainty.
Tony over time took control and bought in more and more (perhaps codedly). And returned strongly recently (perhaps over the last 10 years and even more over the last two years when Ote$ attempted a late repositioning).

I was searching for the name of the other Tony (younger than Tony Elumelu) that at one time led Trasnsorp. And there seem to be no trace of his name on the web. Please does anyone remember the full name of this other Tony.

BabsO2:
Was searching for something and this 2020 post came up
Some may still hold this perception.
Time will tell - It's a great gem through the leadership of Tony Elumelu or ?.

https://nairametrics.com/2024/03/07/the-journey-that-led-the-listing-of-transcorp-power-plc/
See the interesting recollection in this article. See Transcorp's hardwork behind the scenes that lead to TransPower.