₦airaland Forum

chillykelly86:
The bolded is confusing. Between 2022 and 2023, due to the devaluation of naira, any dollar holdings will result in improved valuations in accounts stated in naira. You may need to revisit those sentences so we can get your opinion clearly.

Look at the Consolidated statement of Financial Position and the note 38 of the AFS. You should be able to spot it. Seems I cannot paste an attached picture at the moment.

One need to understand the make up of Total Equity for banks
1. Common Shareholders
2. Additional Tier 1 Capital,

In FUGAZ additional tier 1 is zero for all of them except for Access.

unite4real:
i do not think the electricity subsidy removal will increase the income of the DISCOS. they had been over invoicing the govt on the subsidy. Now that customers on band A have to shoulder the responsibilities, they will be more prudent in energy utilizations

It will surely rub on the discos as i doubt govt paying any so called subsidy to them promptly. Now they collect their money sharp sharp. Now before any fault or outage occurs na them they run to quickly fix it unlike before - that tells me they are motivated to deliver and surely benefitting better than before.

chillykelly86:
FBNH's audited results is not yet out. But UBA has been added.

Image credits to @rufyb on X.

The book value of ACCESS is overstated as the tier 1 capital taken in USD was stated in 2022 and 2023 AFS under equity in NGN without factoring in devaluation. Because of this understatement and its use of USD tier 1 capital added to equity, which other banks are currently not doing, some of the metrics calculated for the bank can be wrong when computing investment ratios for common shareholders. The Tier 1 Cap has been very useful for its fast expansion program.

robobo:
"I think he needed the drama to tidy the results up" == in hindisght (20/20), this is looking more like the intention.

( i am seeing/dreaming something like the AP / Otedola saga from sub 10 to over 300)

That will be a lovely thing if it happens
But make him stay up like SEPLAT and not fall back like AP
Make him embrace quarterly dividends like global oil companies that SEPLAT has emulated.

thebargainhunte:
If he wanted, he would have done it long time ago the way Ardova did. I think he needed the drama to tidy the results up. You might not be far from the truth, he wanted to turn a new leave now. Oando remains a stock to watch, but one has to know dinning with Oando is like dinning with the ....

Looking more and more like he needed the drama to tidy things up and come out bragging of the turnaround he has led. Could see the bragging already started in the November 2023 AGM The air around him in that AGM suggests he would love the good limelight and not a boring delisted operation. Though he can still achieve limelight by SM even if he delists - dinning with the ......

thebargainhunte:
I doubt oando will be delisted

I bet it will not be delisted.
Rather it will start paying dividends by next year latest. Will not be surprised if we even get a dividend this year.

OANDO

sky2891:
Since the AFS has been approved by the Board and sent to FRC, are we sure some people have not seen it?

Locotrader:
When the bids gets to 50m or above, know something good is about to happen but for now..........

Already on full bid with max daily gain. No offers on the floor for sale at the moment. That's how optimisim springs up once court date is nearing. Time for this case to be struck out joor.

ositadima1:

Let me guess, you are well-invested in UBA. When did 26 billion become a small amount? LOL

You even reduce the gap further. Thanks
N260b difference
That's 22% of Zeniths number. Not small

unite4real:
These are sentimental analysis. What about their incomes and when you factor their costs out from their incomes. We are talking about profit here. Would you choose to have less employee and post less profit than to have higher employees and post superior profits. What you should consider is what you see at the bottom line
What is the earning reports of both banks. Their EPS should be important to you as a shareholder

Look at the original question. The answer was address it.

I think you are imaging/answering additional questions, which is fine.
Ask your questions

There are various investment ratios and considerations an FA investor will calculate and ponder on.

KarlTom:
You just echoed my thoughts.

I've spent a couple of hours perusing the AFS of both Coys and the more I look, the less I seem to understand.

Some differing metrics:
Net interest income GTHC 436.6bn Zenith 736.1bn
PAT GTHC 539.6bn Zenith 676.9bn

Can anyone she'd come light on this?

Thank you

Zenith has more expenses than GT. Zenith reported 8,165 employees, while GT reported 5,487 employees.
Perhaps due to more branch network.

leparj:
I see First Bank here.
Is their result also out.

First Bank Full year Audited is not out. But the Full year unaudited was released in January.

Ibrahim505:
Retained earnings of Tier 1 banks in 🇳🇬 based on latest filings
Zenith N1.8 trillion
UBA N918.8 billion
Access N715 billion
First Bank N609 billion
GT N580 billion
© Olamide Adesina

You are overstating Zenith retained earnings. Zenith is not double of UBA, but above by a small amount.
The correct Numbers are
Zenith N 1.18 Trillion
UBA N 0.92 Trillion
Access N 0.72 Trillion
First Bank N 0.68 Trillion *** Unaudited Full Year numbers
GT N 0.58 Trillion

thebargainhunte:
FUGAZ dividend yields:

UBA-9.1%
Zenith-8.4%
Access-8%
GTB-5.9%
FBHN-
Uncle Tony really tried for dividend hunters. I think it is a great milestone for them to overtake the like of Zenith and GTB in terms of dividend yield.

Uncle Tony is indeed doing very well. He should please ensure the dividends stay up and never fall. Come September he should pay not less than 50kobo interim. Only Zenith currently exceeds UBA book value per share. That is so good.
For those who averaged down well on UBA they will start earning 100% what they invested in UBA as dividend every year.

OANDO

The 2022 Audited Financial Statements of Oando PLC have now been finalized and approved by the Board on Monday, 8th of April 2024 and will be sent to the Financial Reporting Council of Nigeria immediately for regulatory approval, prior to their release to the market. The interim results for 2023 will also be released to the market soon after the 2022 Accounts are published.

Having approved the 2022 Audited Financial Statements, the audit of the 2023 AFS has now commenced, and the Company is committed to ensuring that the 2023 AFS is published on or before July 31, 2024.

https://doclib.ngxgroup.com/Financial_NewsDocs/40881_OANDO_PLC-OANDO_PLC__CORPORATE_ACTIONS_APRIL_2024.pdf

BabsO2:
Air conditioning drains power off disproportionately. The bigger the space the bigger the energy wasted consumed. One 1.5 HP a/c consumes about 1 to 1.3 KwH of energy every hour it runs depending on the quality (efficiency) of the a/c compressor. A standard 3 bed flat with refrigerator only consumes about 3KwH a day. What one 1.5 HP a/c will consume in 3 hrs.

Nigeria needs rapid growth in electricity generation especially as global warming increases ambient temperatures, which in turn leads to increased demand for AC use.

This hike should be good news for Geregu, TransPower & Transcorp as they procure and put on line more gas turbines for power generation.

Combining the use of fan and A/C can increase comfort without the need of more cooling (<26^o C) that wastes consumes a lot of energy. Gencos should encourage consumers to do this to reduce their electricity bills and in the process allow the limited energy generated by GenCos to serve more consumers.

KarlTom:
BREAKING

NERC Approves N225/KwH Tariff Hike For Electricity Consumers

Only 15% of consumers affected

Accordingly, power distribution companies (DisCos) will be allowed to raise electricity prices to N225 ($0.15) per kilowatt-hour from N68 for urban consumers this month effectively from April 1, 2024.

Oseni also revealed that these customers, who represent 15 per cent of the population, also consume 40 per cent of the nation’s electricity.

Details Later…

Source:
leadership.ng

Air conditioning drains power off disproportionately. The bigger the space the bigger the energy wasted consumed. One 1.5 HP a/c consumes about 1 to 1.3 KwH of energy every hour it runs depending on the quality (efficiency) of the a/c compressor. A standard 3 bed flat with refrigerator only consumes about 3KwH a day. What one 1.5 HP a/c will consume in 3 hrs.

Nigeria needs rapid growth in electricity generation especially as global warming increases ambient temperatures, which in turn leads to increased demand for AC use.

This hike should be good news for Geregu, TransPower & Transcorp as they procure and put on line more gas turbines for power generation.

ogoo4real:
What is going to be the resultant effect of this 10k in the market today
Massive dumping going on in Transcorp as a result of 10kobo dividend.

I guess a pull back here and there. Overall a flat market in the short term as a lot of profit takers have already struck.
And a gentle rise in the medium term if the Q1 and Q2 numbers suggest growth is on course.

yMcy56:
TRANSCORP at a glance...

https://doclib.ngxgroup.com/Financial_NewsDocs/40805_TRANSNATIONAL_CORPORATION_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_APRIL_2024.pdf

** Needs to know if this group revenue is exclusive of TRANSPOWER's! If it's so, then, future is very bright for Transcorp from my opinion*

** Current shareholding structure attached**
Share mop up by Corporate investors noticed in 2023 FYE..... around 30bn! 🧐

Waooo. The picture showed madam (Mrs Elulmelu) mopped up Transcorp shares heavily last year from profit takers . Can recall one or two NGX notifications announcing her mopping up at +/- N3
The mop up (5%) is very heavy !!!!!!!

emmanuelewumi:
Transcorp to pay dividend of 10k per share from EPS of 40k

Looks like a 25% payout ratio is forming in a dividend growth manner. They may pay less in exceptional years like 2021 where EPS was 34 kobo but dividend paid was 2 kobo. And may still pay dividends in bad years like 2020 when a loss was recorded but 1 kobo dividend was still paid. If they can continue with this dividend growth model of 25% payout ratio of sustainable profits without ever cutting back on dividends that will be excellent.

sky2891:
It seems you have given up on Oando

No be dey play him dey play all along Wetin change

Zagee:
Preliminary analysis is pointing at approx 20kobo

That will be okay (but on high side). In view of the fact that they still have a lot of subsidiaries yearning for cash injection to unleash growth.

Transcorp should be seen as a growth stock and not a cash cow dividend stock.

I use these thoughts to balance my expectations on dividends from Transcorp.

leparj:
Africa Prudential Reg dividend just
entered.

Has it. I have not got it.

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.