₦airaland Forum

orriyomi33:
Tried the link several times before now but there was no option of sign up.

Screen shot below is what is being displayed

Register to view your CSCS account here.
https://portal.cscs.ng/home/register
I think it is simple to register. It only costs about N5k every year to maintain access.
An alternative if one is not bothered about having access. One can always ask the broker to print the current statement from CSCS. Won't be surprised if some brokers charge a small fee like N500 for the stress. While it may be free for some.

mikeapollo:
That means you are heavily bullish on Oando

For us (like me &you) having sizeable Oando it reduced our index performance in 2025

My index moves when Oando moves

EDUECO:
60 to 70 percent of funds for capital projects is being embezzled in most states of Nigeria. In China ,99.9 percent of funds for capital projects is being utilized in all provinces or states of China. The major problem of Nigeria is the political class.

As you are saying, no doubt fantastic levels of theft is one of the reasons of increased collective poverty, as evidenced by cases and recoveries from govt officials.

I am saying, lack of need for a state or region to be productive, not having each state GDP contribution to national wealth creation recorded - this opaque system of what each state is doing to grow the economy, makes states and regions very unproductive, while their governments still get money from the feeding bottle arrangement to steal.

. . .

EDUECO:
How did China get to their current level.? It is through the efforts of the CCP. Can you say APC and PDP are like CCP?

China is made up of regions that compete in growth of their respective GDP’s. They do not operate a feeding bottle economy where money is collected by central government to be shared to regions like Nigeria share money to states from the centre. Each region struggles to make its money by producing things. That’s like each state in Nigeria actively working for the state to be attractive to people and businesses and making its money. And not waiting for money to be coming from a center even if the state is unproductive and contributing nothing to the prosperity of the Nation. That’s one of the reasons China got to its current level - internal regional competition at growing regional GDP’s through hard work.

orriyomi33:
Good evening.
I'm still awaiting mine, don't know if it's been credited to my CSCS account.

How do one access a CSCS account, I'm finding it difficult creating one.

It’s long I registered. Search online on their portal you should be able to find how to register so that you can login to see your stocks on your CHN accounts.

https://portal.cscs.ng/home/index

CHAMS rights has been credited for one of my accounts before end of December in CSCS. While for my other account it’s not yet in CSCS.

First Bank on the beat. Just 20kobo to catch UBA at N39.8.
With this surge in First Bank price it looks like a close above N40 this week and this year is likely.

emmanuelewumi:
CBN is the registrar of FGN bonds, the problem with payment is from CSCS. I have experienced that on 2 occasions, I wrote a mail to CSCS and I got paid.

It is more liquid if the bond is in custody of the bank, but I prefer mine in CSCS. By being in CSCS I have easily get the total valuations of my equities and bonds through CSCS online.

If they are with the bank, what happens if the bank goes under.

Yeah. Those are the pros and cons.

emmanuelewumi:
Bought in 2024 after booking profit and later did a portfolio rebalancing.

I actually bought 3 different bonds

From my past experience bonds held in cscs through IBTC stockbrokers, one can miss coupon payments once in a while. And one will then need to follow up with broker who then follows up on one’s behalf . Also on maturing one has to fill and submit a form to get money back. Selling is also not that liquid on cscs should one want to sell the bonds. One can wait for months. However bank holding the bonds spares one these wahala. Things moves faster and smoothly with bonds held by bank.

bolaayenimo:
If you have spare funds, position it in FCMB and Jaiz bank

I was thinking of selling FCMB. Okay will tarry.

emmanuelewumi:
A serious management would done that before coming up with a date for the offer. Investors don't like surprises, except a pleasant surprise

Let’s see how the drama plays out. Things will get clearer.

emmanuelewumi:
And they didn't buy the public offer, which warranted a 2 week extension
Hope you have bought the public offer?

More time may be needed for all the parties involved. Those selling in the ARPN vehicle, new stakeholder money bags and new ordinary public investors. More time may be needed to balance all this I guess.

emmanuelewumi:
Give me example of when we have a new core investor on NGX and the management was not sacked.

Hope you remember what Wale and his goons did when they bought 40% of Unipetrol which was previously owned by FGN.

You remember what Tony Elumelu and his goons did when he became the core investor of UBA after buying the shares of Hakeem Bello Osagie

Even if he is sacked. He’s got a ton of shares at N3 or thereabouts plus a substantial pay off that may be more generous than his expectations if he continued with the old Ellah.

Streetinvestor2:
Like seriously, if 20billion hit account for this PO.You guys will know say osun governor dey learn dance whr the ceo of kpakus dey...lol

My street sense told me to load last year and this year achieving a load price of less than 3.5. Took my money out plus some profit while still holding a large chunk when direction got too hazy. Now my street sense tells me to follow the money here. Even if I sell some more units right now, I can buy back cheaper through PO

emmanuelewumi:
A crafty person won't mind if he is overthrown. Immediately the offer is completed the money will be paid by the issuing house to the company, even before the allotment is made public.

If from the allotment, insiders see that the company now has a new core investor. Insiders can decide to lavish the fund and their will be nothing for the new core investor to work with.

Management who wants control of their business will not issues shares that are more than their current outstanding shares to the public.

With the current 3 billion outstanding shares of the company, they might offer about 2 billion to the public not 18 billion.

What management Ellah Lakes did with current public offer shows desperation or they don't care if another people become the new core investors and those new core investors will definitely sack Chuka and his team.

He doesn’t need to be sacked. He will get a fatter pay check. He already has more shares from past debt converted into shares. His hands will just be put off the cookie jar

emmanuelewumi:
I know it is owned by Tolaram, an Indian holding company with interests in various sectors of the Nigerian economy.


Indians are smart business people, the asset is probably overpriced or they are not getting the desired value and return from the asset based on the fact the asset is not in their area of core competence

They may also need additional strong stakeholders that can make things work better.

emmanuelewumi:
They would have done a merger between APN and Ellah Lakes, Ellah Lakes shares would be given to APN and it be listed on NGX.
Or give a loan to Ellah Lakes and then convert to equities.
There won't be any reason to extend the public offer
By the way these are not included in the offer documents

And they may chose to go through PO if that works better for them and their parties. Is everything always stated on offer documents? Or just what is needed for completing the job.

emmanuelewumi:
I know it is owned by Tolaram, an Indian holding company with interests in various sectors of the Nigerian economy.


Indians are smart business people, the asset is probably overpriced or they are not getting the desired value and return from the asset based on the fact the asset is not in their area of core competence

They may be looking for a way of listing indirectly while getting some other core investors on board while taking some profit and still retaining major or sizeable stake.

SonofElElyonRet:
My 3 million units bought at about 3.50 don do. Let me hodl till long term. Target is to get to a point that dividend will be around cost price or more

My average cost price was less than 3.50 before I sold a third at about 8.5 and the broker sold more than I told him to sell reducing my holdings to less than 2/3 of original.

ositadima1:
This is not a clear or objective argument; it is like someone speaking from a pre-existing negative bias. And in that second point, why should I be the one justifying your argument with numbers?

Let’s consider some simplified comparisons. Presco has a market capitalization of about ₦1.45 trillion with roughly 26,566 hectares of planted oil-palm. Okomu is valued at about ₦1.03 trillion with around 19,011 hectares planted. ARPN, the asset Ellah is acquiring, is valued at approximately ₦155 billion and has about 6,280 hectares of planted oil-palm. When you compute the implied per-hectare valuation, Presco comes out at roughly ₦54.6 million per hectare and Okomu at about ₦54.2 million per hectare. ARPN, at Ellah’s valuation, is around ₦24.7 million per hectare.

It’s a simplified calculation, yes, but it clearly shows that ARPN is cheaper on a per-hectare basis. If you have a different valuation model, then you should present it.

Your first point also doesn’t logically support your conclusion. The CEO not being an agriculture professional is not a disqualifying factor for running an agricultural company, that is simply not how corporate execution works. The more relevant questions would be whether Ellah has operational depth, whether it has the execution capacity to integrate a much larger entity, and whether it has the political and local-stakeholder leverage required in the plantation business. Those are the real issues, not the CEO’s academic background

Love to see simple numbers like this. It shows Ellah has room to grow from current PO price.

I can imagine the owners of ARPN will be the majority owners of Ellah post PO. Or some market makers. And these people will be the majority owners of Ellah post PO and will be the ones managing the business going forward.

My bet is these ARPN owners & or some market makers will be the new majority shareholders of Ellah going forward. And will play key roles in making their investment successful while enjoying the benefits of being listed on NGX.

Will pick up some PO to add to my front row positions once I cross check these simple numbers.

machine606:
Have X-alart been suspended? Haven't got any since last month!

Didn’t get any alerts on the trades I made this week. Aah so the issue is up to a month.

toyeoye:
Oil prices update

Many factors are pulling oil prices down and a few are pulling it up. If not for OPEC+ oil prices will be lower than current market prices.

BabsO2:
Perhaps the seller is the one buying. Or it’s a swap between a buyer and seller. Or a mix. Have you thought of that. All good for those of us in front row seats. In fact excellent. Time will tell.

My bet is Ellah public offer will be fully subscribed !!! Good for those of us in front row seats
The one I cannot bet on yet, is when they'll start churning good profits and dividends to shareholders.

SonofElElyonRet:
Wow. 27% per annum interest. You na strong man o.
Think current Ellah shareholders would've preferred discounted price via rights issue which Chuka Mordi refused to accede to.. you shareholders at Presco got rights issue

Perhaps the seller is the one buying. Or it’s a swap between a buyer and seller. Or a mix. Have you thought of that. All good for those of us in front row seats. In fact excellent. Time will tell.

lexy2lexy:
Do you mind disclosing how much you bought on the floor?

Less than a thousand

emmaodet:
Though i picked up my Presco right but how can i trade my rights?

I usually sell in the market out of what I already have and pick it up back by taking my rights if I want to trade rights. But this requires market price to be attractively higher than rights price.

There are other official ways like filing the rights form portion for trading rights. Or getting in touch with broker to set up the rights for trading on the floor. Never used em. But aware.

I bought PRESCO cheaper than rights today on the floor.

Ding !

The bull triumphing the bear ahead (today, within a week or month or couple of months)

PRESCO is overpriced. I cannot even trade my rights. Those that want it can pick up PRESCO and Ellah RI & PO.

nosa2:
I don't know how old you are but the growth was largely driven by telecoms liberalization and bank consolidation. The next step to push to industrialization was liberalization of the energy sector but the people resisted the govt when they tried to implement the reforms.

The people resisted because they failed to understand that their decisions ultimately affected their future. Now that the future is here the people are learning and crying. This is how nations are built. Nigerians are now learning that there are future consequences to their current decisions.

I am young. I can recall your buying FBN etc back in the stock market Nigeria days.

You left out massive growth in FX reserves that led to President Obasanjo paying off debts. Crude oil money is the major source of the growth. The crude oil income has multiplier effect. Telecoms and banking were multiplier effects.

PuristForest:
There are many 'lazy' countries that dont work half as hard but have all the required infrastructure plus enough to care for elderly and others ...i dont think its all about work....quality education and people doing the right things matter alot .

Work plays a key role. Those nations you are referring to have invested over a 100years of relatively heavy high value adding work spanning generations.