₦airaland Forum

Trying to understand buacement too. Sold most of my shares that changed from CCNN to Buacement when the price hit N80 as I could not fundamentally see what was pushing it to N80 or will support it at that price.

sterlingD:
I don't understand buacement

That's all Nigerian Tier 1 Banks and Top Tier 2 banks are exposed since 2013. It will help their forex (and translated Naira) balance sheets if all goes well. And could be a negative exposure if the project ends up a total failure. Now the project has suffered major delays and some are speculating it will take a couple more years to go live. Without the NNPC bail out by equity participation, it would have created major stresses.

MonkeyHunter:
https://www.premiumtimesng.com/business/144169-dangote-seals-n528bn-loan-deal-12-banks-refinery-petrochemical-project.html

Dangote Group on Wednesday signed an agreement with a consortium of 12 Nigerian and international banks for a $3.3 billion (about N528 billion) loan to facilitate the construction of a $9 billion oil refinery, petrochemical, and fertiliser complex in Nigeria.

The deal is part of a $6.75billion debt financing arrangement to augment the equity contribution in the project by the group, which also has interests ranging from cement, to basic food processing, to oil and gas sectors of the economy.

The consortium of banks include Standard Chartered, Guaranty Trust Bank, Access Bank, Zenith Bank Plc, First Bank Nigeria Plc, Ecobank International, Fidelity Bank Plc, United Bank for Africa, Standard Bank, Diamond Bank First City Monument Bank and FirstRand Bank.

https://mmsplusng.com/blog/amcon-may-take-over-dangote-refinery-as-liabilities-swell/

Hope this will not hit some bank profits with impairment charges. Which banks are exposed to Dangote Refinery debt ?

OBAGADAFFI:
Contact Coronationregistrars they are Access Bank registrars.

https://coronationregistrars.com/

I contacted Coronation registrars before this your post via web forms. I am very impressed from the response I got from them today. That the payment I got was was for my "outstanding dividends of diamond bank before merger". They surely must have a high level of integrity unlike some other registrars. And must have an excellent set of records. I am so impressed because it is over a decade old and I never went out looking for it.

So much movement in registrars. Looks like Centurion were the last registrars for Diamond Bank. Then United Securities took over on acquisition by ACCESS Bank. And its now Coronation Registrars in charge. Let me get in touch with Coronation.

BabsO2:
My question is related to former Diamond bank shares. Just trying to see if anyone knows about it's "DIAMOND-PAYMENT 1 OF 31". Saves me time of digging for info on its former registrar or transitioned registrar and details of completed or outstanding due transactions relating to former Diamond Bank share holders. Looks like your mind is off on a wrong tangent. My question has nothing to do with offering any product or marketing any scheme.

Guess as much not to take him too seriously.

megawealth01:
Don't take all of loco talks to heart na... I believe he didn't get what you meant initially

I thought so as well. They reconstructed about 10 Diamond Bank Shares to 2.858 Access Bank Shares. Called Centurion ended no one picked. Ended up in an answering machine.

OBAGADAFFI:
Diamond transaction has been concluded long ago.

Contact the Registrar for more information.

My question is related to former Diamond bank shares. Just trying to see if anyone knows about it's "DIAMOND-PAYMENT 1 OF 31". Saves me time of digging for info on its former registrar or transitioned registrar and details of completed or outstanding due transactions relating to former Diamond Bank share holders. Looks like your mind is off on a wrong tangent. My question has nothing to do with offering any product or marketing any scheme.

locodemy:
Go and ask the person who introduced the Diamond business to you.Dont ask about it here again. Hope you don't have the intention to introduce the scam to us?

Please does anyone know about "DIAMOND-PAYMENT 1 OF 31" to be paid today, what it is about.

Hot money from where. Or is it due to hope of increased oil prices trickling down to PAT's and strategic investors being more confident to take position in grossly under-valued stocks.

samguru:
Ladies and gentlemen,

Let us all welcome hot money into our market.

https://thenationonlineng.net/banks-to-lend-nnpc-3-9b-for-equity-in-dangote-refinery/

I hope this is not further risk exposure to Nigerian Banks. Should anything happen to oil prices in the coming years.

emmanuelewumi:
What is their current PE ratio?

What is there average earning growth rate in the last 3 years?


I will choose Okomu ahead of Presco sha.

The 2020 PE ratios for Okomo and Presco are 11.6 and 13.7 respectively. I don't have their 3 year earnings growth rate. Indeed Okomu seem to perform better than PRESCO looking at one year earnings growth rate and PE.

With Top Nigerian Banks like GTB having PE ratios of about 4 (and less for the other big banks) it makes this PRESCO and Okomu currently appear unattractive.

emmanuelewumi:
I think they are more interested in the real estate, not the biological asset.

PRESCO and OKOMU Stock price looks currently over priced. As most likely those currently in the bus don't want to part with their shares. Let me crunch my spreadsheet to see if current prices are a fair entry point. How do you rate their current prices ?

emmanuelewumi:
Presco just sent a letter to shareholders concerning their interest in buying Okitipupa oil palm plantation.

Unfortunately Nigerians are not playing big in Agriculture.

Okomu and Presco have foreign core investors

Okitipupa oil that has Nigerian core investor is moribund.

They will get more land, less than 20% of the land space in Nigeria are currently cultivated

Is it Okitipupa Oil Palm PRESCO wants to buy ? That looks like a mature Asset. However it all depends on price of purchasing it and them converting the investment to returns. With the kind of Know How PRESCO and OKOMU have I have no doubt they will do a good job in exploiting Okitipupa Oil palm that is currently failed to generate good returns.

This Zenith wants to leave N23. Abeg come back there today or tomorrow or latest next week. After all it appears there are more trying to sell than those trying buy based on those that have shown up in the market. But those of the sidelines we don't know which side them dey.

yMcy56:
GTB: Sighted @28.50..…..
Are the dumpers still coming? We wait and see ...

ZENITH: 23.50........
ACCESS: Still maintains 8.50.....
UBA: @7.30..........
Let's keep watching......

WEMA:
55k seller still selling...

Nigeria is still punching far below its weight in palm oil production. There is room for expansion. I think most of the growth in PRESCO and OKOMU revenues comes from new trees planted fruiting. Yes some illusionary growth will come from increasing Naira prices of their processed products mostly as a result of inflation. To an investor this illusionary growth of riding with inflation counts as it maintains the purchasing power of the investors returns over time. But if there are no new lands to acquire and expand upon, a source of investor funds growth is muted. That's my thought based on the fact that they even revalued their assets at one time based on the facts that their palm tree seedlings are now oil producing trees. Hence if you cannot repeat that aspect of expanding area cultivated, shareholder funds and dividends will not enjoy that fantastic growth. The business will enter a plateau and sooner or later a decline phase if there is woeful management.

emmanuelewumi:
They are expanding, their products are in high demand.

Palm oil used in soap , cooking oil and margarine production, cosmetics and lubricant production etc

Or an investor that got N21,060 from PRESCO in 2009 as dividends and without adding a further penny in investments earned N140,400 in dividends in 2020. This is real data ! And earned something every year in between 2008 and 2020 in a way that trended up gradually will believe in the Stocks in the Stockmarket run by good management.

Thanks to the management of PRESCO (I think Belgian led) running a successful agric business exploiting palm trees due to the comparative advantage of palm tree flourishing in Edo State. I pray we have more companies run by good and prudent management on the NSE. I glanced recently at their annual report to see what's up. How they returned so much value to me. Was not surprised they invest in R & D.

emmanuelewumi:
The investor who got a dividend of N1 million from Zenith Bank about 12 years ago and now got a dividend of N4 million in 2021 without adding a kobo to his Investment won't believe anything is wrong with our stockmarket or the business he invested in.

Thanks

emmanuelewumi:
Smart people know that it is good on the long run to convert their active incomes made through salaries, trading profits, commissions etc to Investments or ventures that will give passive income like rents, dividends, royalties, coupons, interests etc

A good society needs savings/investments to grow the society. Smart people do not eat all their seeds but plant some in expectation of a good reward. It is a cycle for creating wealth both for the individual and the society. Passive income is the reward of the person or society that does not consume all its seeds.

emmanuelewumi:
Comprehension is a major issue here.

Passive income looks like awuf money, money made while sleeping.

Compare someone who saved his salary to buy a car and another person that used the rental income from his Investment property to buy a car, which one is sweeter

I hope you will now understand my definition of awuf money

Anyhow you paint it. This is the reasoning behind why some Naija people run businesses aground. I get what you are saying loud and clear. And please do not take this as a personal attack. But it is the same similar thoughts that run in the minds of Nigerians that run businesses down. They believe owners are not due anything while they are sleeping and they are working. I do not see dividends like awuf money, but more as my reward for venturing into the business and not chopping my money completely in the first place.

emmanuelewumi:
Dividend is not sweat money.


I think the sweetness has to do with the fact that it looks like awuf money

Is this why some of you run companies aground or refuse to pay shareholders. Or even outright damage other peoples business. As you think shareholders getting dividend is like awuf money. what about the sweat used to accumulate money to use in buying the shares or setting up a company. Now I understand what some Nigerians think when they damage other peoples business. They think na them dey work, why should the owner get anything.

The amount of offer to sell Zenith on a daily basis exceed the amount of bids. often times offer to sell doubles bid to buy. Ordinarily this should make the price of Zenith to drop. But I just don't understand why the price is now stuck on N23.

While UBA has more bids than offer but the price is not going up soon. For fear of poor dividends. Or is it fear of Audio results.

Lion123:
I don't understand why Zenith Bank is refusing to come down below N23

Chai. This Otudeko na big thief.

emmanuelewumi:
His shares in Fbn is worth N5 billion , his debt is about N80 billion

Otudeko out is the big change. Hope he will be forced to forgo his First Bank shares to pay for any outstanding non performing loans he has.
May not be bad for those of us in this bus. In fact returns may be better in the next one year.

ukay2:
CBN GOVERNOR’S STATEMENT ON THE PURPORTED MANAGEMENT CHANGE AT THE FIRST BANK OF NIGERIA LTD

1.0 Good afternoon ladies and gentlemen.

2.0 The media has been awash with commentaries on the purported management changes at First Bank of Nigeria Ltd (FBN) and the related regulatory inquiry by the Central Bank of Nigeria (CBN) to the Board of First Bank of Nigeria Limited. It has therefore become necessary for me to address the public to clear any misconceptions.

3.0 Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the Bank over the last 5 years aimed at stemming the slide in the going concern status of the bank. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. The action by the board of FBN sends a negative signal to the market on the stability of leadership on the board and management and it is in light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank.

11.0 Following further review of the situation and in order to preserve stability of the bank, so as to protect minority shareholders and depositors, the Management of the CBN in line with its powers under BOFIA 2020 has approved and hereby directs:

i. Immediate removal of the all directors of FBN Ltd and FBN Holdings Plc

ii. The appointment of the following persons as directors in FBN Ltd and FBN Holdings Plc

Holdco

1.Chairman – Remi Babalola

2.Dr. Fatade Abiodun Oluwole

3.Kofo Dosekun

4.Remi Lasaki

5.Dr Alimi Abdulrasaq

6.Ahmed Modibbo

7.Khalifa Imam

8.Sir Peter Aliogo

9.UK Eke – Managing Director

Bank

1. Chairman – Tunde Hassan-Odukale

2. Tokunbo Martins

3. Uche Nwokedi

4. Adekunle Sonola

5. Isioma Ogodazi

6. Ebenezer Olufowose

7. Ishaya Elijah B. Dodo

8. Sola Adeduntan – Managing Director

9. Gbenga Shobo – Deputy Managing Director

10. Remi Oni – Executive Director

11. Abdullahi Ibrahim – Executive Director

12.0 The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensure the stability of the financial system. There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.


@mycf

I entered at N1.30 this January. I hope I will be able to Jump out with a profit. jijo Though I am still trapped right from the IPO days.

locodemy:
I have even sold 3m units already at 93kobo this morning. Those ones I bought at 77/78/79/80kobo after the first purchase that cost me 1.42.

I will only keep those first tranch for long term while I have activated Jijo for the subsequents

locodemy:
https://doclib.ngxgroup.com/Financial_NewsDocs/33109_TRANSNATIONAL_CORPORATION_OF_NIGERIA_PLC%20_QUARTER_1_%20_.pdf



I bought this Transcorp stock at 1.42 above market price hopping to ride on the euphoria but it didn't respond.

With this Q1 result, I will begin to average down in order to move out of losses.should be trading around 90kobo+ in the coming days.

Happy weekend to you all.

Looking closely at what shareholders are getting. It is very low. The Non Controlling Shares folk are taking the profit and retail NSE investors at the moment are still making a loss in comprehensive income. Hope in coming quarters this will reverse.

OBAGADAFFI:
GTB has been messing up lately.

Even their banking service is no longer reliable.

But GTB still grew deposits faster than other big banks last year except for UBA that grew the most (perhaps due to foreign ops). What else can one use to measure reliability or likeability of service than rate of deposit growth ?

https://doclib.ngxgroup.com/Financial_NewsDocs/33077_GUARANTY_TRUST_BANK_PLC%20_QUARTER_1_%20_FINANCIAL_STATEM.pdf

GTB profits have dropped by 10%. Traced to a huge drop in interest income. Will be interesting to see the review of the analysts from the broking houses. Stock prices may dip in the coming days and weeks especially if Zenith follows with a similar pattern of results.

UBA results will be seen more as audio profits . Till UBA shakes body and pay correct dividends in line with reported profits like GTB and Zenith that pay nearly half of profits in dividends.

By Tuesday 20th Elephant will fall down 45 kobo for Dividend and Access should be ahead once again. FBNH can only catch Access if it shakes body and pay more dividends. With last year results they have a tie in Book Value Per Share of N21 with Access ahead in Earning Per Share based on bank operations and far ahead using consolidate numbers for computing earnings per share. Where are Q1 reports (estimates) of performance. The market should speed them up based on this. Or increased interest rates may mute a price rises.

yMcy56:
E Ku Market o.

Access marked down and sighted in the league of the Elephant, though Access is trying to give gap but Elephant too is not taking things lightly........... never say never in this market.....

ACCESS...... 7.60
FBNH......7.60

samguru:
Unilever has been reporting loss for couple of years back and the board is coming up with resolutions that will make the company to bleed further.

Imagine the board is proposing #62 million for director as directors fees and as well as #12million vehicle allowance for the chairman.

This proxy AGM is an opportunity for some rogues in board of the listed companies to strangulate our companies.

Securities and Exchange Commission,minority shareholders can not breath again!

This is chicken change compared to the emoluments of First Bank directors that run into billions of naira every year. That bank has the highest paid directors in the whole of the banking industry.

UBN - Union Bank was supposed to pay their tiny dividend yesterday 13th. But I didn't get it. What is wrong with this poor performing stock ?

Sterling Bank Better than ETI with a dividend of 0 Kobo every year. BIGGER SHAME

Lion123:
Sterling Bank. 5 kobo dividend. BIG SHAME!!!

http://www.nse.com.ng/Financial_NewsDocs/32797_STERLING_BANK_PLC%20CORPORATE_ACTION_ANNOUNCEMENT%20STERL.pdf

Stick to GTBank and Zenith. Make una dey hear word.