₦airaland Forum

Mcy56:
Abeg make you leave this our bonanza preacher to preach on o.
How will he miss the next bull when it will come after the bonanza period?

My sister help me ask him ooo, his gang has called for my arrest. In fact I will look for court injunction. I don't know their plan before bonanza period. after all, bonanza will favour everyone who needed it and want to participate.

Mpeace:
Instead of answering yes or no, you kept going round and round and then you finally said yes.
[s]Bros, you go miss the next bull. Surely.[/s]

Holy ghost fire

Bonanza period must come, and after that the bull. For saying what you exactly said above, you must miss bonanza period opportunity, thereafter the bull, and that is must, let see who miss.
Joke is not always.

tritritri:
You missed 2017/2018 bull ..how sure u wount miss this also?

I didn't miss anything, that am not here now does not mean that am not somewhere, or does not exist.
If I miss the bull, that also stands that I miss the bear too , but I didn't miss northern movement elsewhere.

stcool:
Minimum wage @ N30,000

1$ - 420/430 Official rate
1$ - 450/460 Black market

Be ready....even the current minimum wage 80% of states cant pay salary. Las Las Nigeria issa joke.

https://www.vanguardngr.com/2018/11/labour-insists-on-strike-tomorrow-alleges-clampdown-bid-by-fg/
“The current demand for a new national minimum wage has gone beyond the stage of negotiation, hence the N30,000 agreed at the Tripartite Committee, which is even very poor (@ US$83 per month, compared to 1981 minimum wage of N125 @ US$250), represents an irreducible minimum and, therefore, not negotiable."

Meaning, in 1981 minimum wage was #125 ( Nigeria naira) @ $250 (US dollar)
1. To get 1 naira in 1981, it should be 1x2 = $2
2. #125 x 2 = $250, then $250 x 2 = $500
3. This show that minimum wage in 1981 going by #1 to $1 is today $500
4. As of today 1 dollar is above #360 ( Nigeria naira)
5. #360 x $500 = #180,000 naira.
That shows that Nigeria pay #180,000 as minimum wage in 1981 ( 37 years ago), and find it difficult to agree on common #30,000 as current minimum wage.

The backwardness of Nigeria need serious deliverance.

Diamond has also landed.

Mpeace:
I agree with u, arrest that guy, he is carrying a dangerous bear substance. #na joke oh!

How will you feel, to buy some stock at more 30/40% discount, and see it at over 120% within the same year.
It will be fantastically good for all of us.

STNWAUME:
Who NSE never show pepper
Don't you know Chibuking that always shouting bear! bear!! starting from Jan till Dec is simply a reflection the irrepairable damage NSE has done to his networth.

Bear has eating up most of people January bull bonus.

We should support bonanza period, because it must come, and truly it's good for us.

Bull started this year, and bear will end it, bear will start 2019 January and bull will end it. It will be a good opportunity for those who want to move up to the next level.
APC will start it, but PDP will end it.

Get ready for January/February bonanza period. no going back.

Friends sorry for long post above, I posted it because of very interested information it carried.
In the post this quote got my attention; “The current demand for a new national minimum wage has gone beyond the stage of negotiation, hence the N30,000 agreed at the Tripartite Committee, which is even very poor (@ US$83 per month, compared to 1981 minimum wage of N125 @ US$250), represents an irreducible minimum and, therefore, not negotiable."

Meaning, in 1981 minimum wage was #125 ( Nigeria naira) @ $250 (US dollar)
1. To get 1 naira in 1981, it should be 1x2 = $2
2. #125 x 2 = $250, then $250 x 2 = $500
3. This show that minimum wage in 1981 going by #1 to $1 is today $500
4. As of today 1 dollar is above #360 ( Nigeria naira)
5. #360 x $500 = #180,000 naira.
That shows that Nigeria pay #180,000 as minimum wage in 1981 ( 37 years ago), and find it difficult to agree on common #30,000 as current minimum wage.

The backwardness of Nigeria need serious deliverance.

BREAKING NEWS TRANSLATE YAN EDE​▼
Labour insists on strike tomorrow, alleges clampdown bid by FG ON NOVEMBER 5, 20185:57 AMIN

NEWS0 COMMENTS To picket, force compliance, advises Nigerians to stay indoors No plan to clampdown on labour leaders—FG JAF backs strike, seeks market women, artisans, others’ support Labour shun meeting with FG Strike won’t cause fuel scarcity, NNPC insists By Victor Ahiuma-Young, Michael Eboh & Johnbosco Agbakwuru ADVERTISING Ahead of tomorrow’s start of a nationwide indefinite strike to compel government to implement the N30,000 minimum wage, organised labour has alleged plans by the Federal Government to clampdown on essential services unions and their leaders.

It also last night shunned a meeting organised by the Federal Government to resolve the impasse on the new minimum wage, as none of the labour leaders attended the meeting in the office of the Secretary to the Government of the Federation, Boss Mustapha. The labour leaders insisted that tomorrow’s strike would go on as planned and urged workers and allies in the civil society to remain steadfast and unwavering in the collective quest for justice for workers and the masses.

Protest against PMS price hike in Abuja Leaders of Nigeria Labour Congress, NLC; Trade Union Congress of Nigeria, TUC, and United Labour Congress of Nigeria, ULC, also advised Nigerians who will not participate in mass rallies and picketing to stay indoors to avoid unpleasant situations. This is even as the ULC in a circular to members, affiliates and state councils, dated November 3, directed them to proceed on a nationwide indefinite strike from tomorrow.

The circular, signed by its Acting General Secretary, Onyeka Chris, read: “All affiliates and workers of the United Labour Congress of Nigeria, ULC, are by this circular called to recommence indefinite nationwide strike by 00.00 hours Tuesday, November 6, 2018, until counter directives come from the congress. Total compliance without exception is expected. “As we collectively pursue better wage for Nigerian workers, we urge you all to remain vigilant, focused, refuse to be distracted and deterred by the antics of the agents of the federal government.”

Labour alleges plans by FG to clampdown on union leaders In a statement by Ayuba Wabba, Bobboi Kaigama and Joe Ajaero, Presidents of NLC, TUC, and ULC, respectively, organised labour claimed that Friday’s joint meeting of the Central Working Committee, CWC, of the labour centres in Lagos, uncovered plot to clampdown on Labour. The statement read: “The Joint CWC similarly condemns government for its design/plan to clamp down on Labour via selective and erroneous invocation of the ‘no work, no pay” clause in the Trade Disputes Act, noting that the right to strike is both a human and trade union rights and cannot be abridged as it is what distinguishes a worker from a slave. “There is nothing new about this clause as it has been in our statutes for over 40 years.

The Joint CWC urges every worker in Nigeria and our allies in the civil society to remain steadfast and unwavering in our collective quest for justice for ourselves and for the masses of our people. ‘’Organised Labour will not be cowed or deterred from fighting for our rights through any frivolous and mischievous court action and processes. “In line with our resolve to ensure total compliance with the nationwide strike, the Joint CWC also directs that the strike of November 6, 2018 should be complemented by daily picketing by workers all over the country.”

Speaking further on the alleged clampdown, General Secretary of NLC, Dr. Peter Ozo-Eson, said no government in history had ever implemented the no work, no pay clause, not even under the worst military dictatorship, saying time shall tell. He declared that the speculated clampdown of Labour leaders was a none issue as they (Labour leaders) were undaunted and resolute to go ahead with the planned strike from tomorrow unless government met Labour demand before tomorrow . We’ve no such plan —FG Meanwhile, reacting to the alleged clampdown, Minister of Labour and Employment, Dr. Chris Ngige, denied such moves, saying “there is no such arrangement to my knowledge.

The Committee on National Minimum Wage Tripartite Committee meeting is slated for 11 am tomorrow (today).” JAF backs strike Meanwhile, the umbrella body for pro-workers’ civil society groups, under the aegis of Joint Action Front, JAF, yesterday, threw its weight behind the strike, urging all working people in the country to maximally support the industrial action. JAF, specifically, in a statement in Lagos, called on artisans and traders, professionals, women, farmers, youths and students, religious groups, among others, to ensure total compliance.

In the statement signed by its Chairman and Secretary, Dr. Dipo Fashina and Abiodun Aremu, respectively, JAF contended that minimum wage should be mandatory for all employers regardless of the number of employees. The statement read: “The current demand for a new national minimum wage has gone beyond the stage of negotiation, hence the N30,000 agreed at the Tripartite Committee, which is even very poor (@ US$83 per month, compared to 1981 minimum wage of N125 @ US$250), represents an irreducible minimum and, therefore, not negotiable.

Minimum wage: Organised Labour frowns at FG delay tactics, embarks on protest “What is clear today from the unnecessary tensions being generated in the polity by the APC’s government and its officials is that none of the 36 state governors and the Federal Government, irrespective of political parties (APC, PDP and APGA), like in past struggles for upward review of wage, is committed to pay the minimum wage without being compelled by struggle to do so.” Strike won’t cause fuel scarcity, NNPC insists Reacting to the proposed strike, yesterday, Nigerian National Petroleum Corporation, NNPC, insisted that there was no impending petroleum products scarcity in the country, arising from the threat of strike action by the organised labour.

In a statement in Abuja, Group General Manager, Group Public Affairs of the NNPC, Mr. Ndu Ughamadu, advised motorists not to engage in panic buying, stating that the corporation would do all it could to ensure the strike, if embarked upon, does not impact negatively on fuel distribution nationwide. He disclosed that the NNPC currently had 39 days petroleum products sufficiency and about 25 days products availability on land, stressing that motorists and other consumers of petroleum products were assured of adequate stock to meet their energy needs. Ughamadu advised Nigerians to remain vigilant and volunteer information to the Department of Petroleum Resources, DPR, or to any law enforcement agency around them, on any station that attempts to take advantage of any prevailing situation in the country at the expense of the consumers.

Labour shuns meeting with FG Meanwhile organised labour last night shunned the meeting organised by the Federal Government to resolve the impasse on the new minimum wage. One of the key officers of Nigeria Labour Congress, NLC, told Vanguard that the meeting was irrelevant as the only meeting they would attend was the one scheduled today for the signing of the report of the Tripartite Committee. NUPENG yet to decide on strike Meanwhile, Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, said last night that it had not taken any definite stand on the proposed strike scheduled to start tomorrow. In a statement signed by General Secretary, Comrade Adamu Song, it said:

“Contrary to misguided publication by some print media, the leadership of NUENG wishes to inform the general public that it has not taken any definite stand on the proposed nationwide industrial action. “We are mindful of the fact that consultations are still ongoing at different levels to resolve all issues at stake. “We urge the general public to avoid unnecessary panic and confusion. We also urge all our members to remain calm and wait for formal directive from the national secretariat of our great nation.”

Read more at: https://www.vanguardngr.com/2018/11/labour-insists-on-strike-tomorrow-alleges-clampdown-bid-by-fg/

Our governor should not carry our alert enter strike.

https://googleweblight.com/i?u=http://c.newsnow.co.uk/A/961324404%3F-395:737:3&hl=ha-NG&tg=313&pt=8

BREAKING: All Airports in Nigeria to Shut down on Tuesday

Published 1 hour ago on November 4, 2018
By Politics Nigeria

All Unions in the Nigerian Aviation industry are set to participate in a planned Strike by Labour unions all over the country scheduled to commence on Tuesday, November 6th.
PoliticsNGR gathered that the unions backed the agitations of the Nigeria Labour Congress(NLC), Trade Union Congress(TUC) and the United Labour Congress (ULC) to ensure that workers were appropriately paid their wages.

The unions: National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), National Association of Aircraft Pilots and Engineers (NAAPE) and the Association of Nigeria Aviation Professionals (ANAP) in a notice dated November 3, 2018, said that they would participate actively in the strike to call for improved wages for members.
The notice was signed by Comrades Temenu Akinola (NUATE), Frances Akinjole (ATSSSAN), Ocheme Aba (NAAPE) and Abdulrasaq Saidu for ANAP.
They stated that the Nigerian airspace would be shut down from 12 am on November 6, 2018.
The notice also applied to all businesses and agencies involved with aviation
The notice read in part: “In complying with the directive of the labour centers, therefore, we issue this notice to all workers in the aviation sector to withdraw all services from 00:00hrs of November 6, 2018.
“The notice also applies to all businesses and agencies involved with aviation to be aware of the above situation and adjust business accordingly. The general public, especially the international traveling public, are equally notified to avoid, or cancel, plans to utilize workers in the aviation sector.

“For emphasis, all workers must comply with this directive as our unions will not tolerate any sabotage of the strike.”

https://googleweblight.com/i?u=http://c.newsnow.co.uk/A/961324404%3F-395:737:3&hl=ha-NG&tg=313&pt=8

BREAKING: All Airports in Nigeria to Shut down on Tuesday

Published 1 hour ago on November 4, 2018
By Politics Nigeria

All Unions in the Nigerian Aviation industry are set to participate in a planned Strike by Labour unions all over the country scheduled to commence on Tuesday, November 6th.
PoliticsNGR gathered that the unions backed the agitations of the Nigeria Labour Congress(NLC), Trade Union Congress(TUC) and the United Labour Congress (ULC) to ensure that workers were appropriately paid their wages.

The unions: National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), National Association of Aircraft Pilots and Engineers (NAAPE) and the Association of Nigeria Aviation Professionals (ANAP) in a notice dated November 3, 2018, said that they would participate actively in the strike to call for improved wages for members.
The notice was signed by Comrades Temenu Akinola (NUATE), Frances Akinjole (ATSSSAN), Ocheme Aba (NAAPE) and Abdulrasaq Saidu for ANAP.
They stated that the Nigerian airspace would be shut down from 12 am on November 6, 2018.
The notice also applied to all businesses and agencies involved with aviation
The notice read in part: “In complying with the directive of the labour centers, therefore, we issue this notice to all workers in the aviation sector to withdraw all services from 00:00hrs of November 6, 2018.
“The notice also applies to all businesses and agencies involved with aviation to be aware of the above situation and adjust business accordingly. The general public, especially the international traveling public, are equally notified to avoid, or cancel, plans to utilize workers in the aviation sector.


“For emphasis, all workers must comply with this directive as our unions will not tolerate any sabotage of the strike.”

https://punchng.com/global-banks-exit-from-nigeria-bad-signal-experts/

Global banks’ exit from Nigeria bad signal —Experts
NEWS
Published November 4, 2018
’FEMI ASU

A foremost financial and economics expert, Mr Bismarck Rewane, has described the exit of two global banks, HSBC and UBS, from Nigeria as a bad indicator.

Also, the Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr Johnson Chukwu, also said Nigeria should be worried about the development.

The Central Bank of Nigeria said in a new report that two representative offices of foreign banks in Nigeria (HSBC and UBS) had been closed, bringing the number of representative offices of foreign banks to eight at the end of June 2018.

The CBN did not give reasons for the closure of HSBC Representative Office (Nigeria) Limited and UBS (Nigeria) Representative Office Limited, both located in Lagos.

Rewane, who is the Managing Director of Financial Derivatives Company Limited, said on Saturday that the country needed to attract more investment, which he described as a function of confidence.

“When big institutions like HSBC and UBS come to your country, it improves the confidence level and other investors will take their cue from there. When they leave the country, other investors will say that there must be a problem for them to leave. So, it is not a good thing,” he told our correspondent.

Rewane said, “Nigeria will be judged, not by what we say but by what we do. So, we can say all we want to say; it is what we do that is important. It is a bad indicator when two of the top banks, which we call bulge-bracket firms in investment banking, such as HSBC, UBS and Goldman pull out of your country.

“For example, if McDonalds and Burger King come into your country, it is a good indicator; it means that your consumer space is improving and that your urban centres are becoming very cosmopolitan. When KFC closed down its operations in Zimbabwe two weeks ago, you could see that the Zimbabwe currency actually stumbled.”

He added, “So, the exit of HSBC and UBS is definitely a negative thing. We need all the investment we can find at this time.”

Chukwu said the banks came into the country with the hope that economic prospect would improve but “unfortunately, projection on the economy is not quite strong.”

He also said, “For economic managers, it is a clear indication that investors are voting with their feet, and that the prospect of our economic environment is no longer as strong as it used to be when the banks came in. It is for us to sit back and then look at why our economy is no longer as attractive as it used to be.

“For me, it (the banks’ exit) is a cause for concern, given our drive to encourage foreign direct investors. Where foreign financial institutions are operating, it becomes easier for investors from their local environments to navigate the investee countries.”

But a professor of economics at the Olabisi Onabanjo University, Ago Iwoye, Sheriffdeen Tella, said the closure of the banks’ Nigerian offices would not have any major impact on the Nigerian banking sector.

“It is not because the economy is not good,” he said, adding that the banks might be trying to adjust their costs in different countries and so might consider their operations in Nigeria not very important.

The CBN said in the report that the flow of foreign direct investment into Nigeria fell to N379.84bn in the first half of the year from N532.63bn a year earlier.

Investor confidence in the country has been shaken since the central bank in August ordered MTN to bring back $8.1bn to the country, part of the profits the South African telecoms firm sent abroad

makashava:
There will be bull in January. O sure ju!

There will be a terrible bear in January/February, grand papa of bear and his family, that's why I called it bonanza period.

Mpeace:
I thought it is after election.

January/February are both bonanza period

It's clear that foreign investors has pulled out, and the remaining are gradually pulling out, by January/February 1st/2nd week ground will be matured enough for bonanza we are talking about, stay tone. Get ready, prepare yourself because cash is king.

Breaking: Two banks, HSBC, UBS close their offices in Nigeria ON NOVEMBER 3, 201812:09 PMIN

BUSINESS, NEWS, TRENDINGCOMMENTS By Nwafor Sunday Report from the Central Bank of Nigeria,
CBN, has revealed that two global giant banks, HSBC and UBS have closed their respective offices and shut down operations in Nigeria. Garba Shehu The reason for the decision was not given but the apex bank had revealed that foreign direct investment in Nigeria fell to N379.84 billion in the first six months of 2018, compared to N532.63 billion recorded in 2017.
‘Technology, major reason for Nigeria’s global relevance’. Recall that UBS opened its doors in Nigeria in mid-2014 to connect prospective clients with its offshore centers in Switzerland, the UK, Dubai and Singapore, where dedicated client advisers offer personalised service and full access to the bank’s vast global resources.
CBN according to PremiumTimes equally revealed that the rising foreign debt and uncertainty surrounding the 2019 presidential election was a drawback. SME financing: DBN joins SME Finance Forum Reuters reports that investor confidence in Africa’s biggest economy has been shaken since the CBN got entangled in an alleged illegal repatriation of funds battle with telecom giant, MTN Nigeria.
Recall also that HSBC had predicted doom for the Nigerian economy should President Muhammadu Buhari wins in the forthcoming 2019 general election.
However, following its prediction, presidency through the minister of Information and culture, Alhaji Lai Muhammed, replied the global giant bank as follows: “We have all read that the Intelligence Unit of the Economist said the PDP will defeat the ruling APC in 2019.
Top banks struggle to grow earnings,profitability “We have also read that the international financial institution, HSBC, said Nigeria’s economic development will be stunted if President Buhari gets a second term. “Let me state clearly that these reports are based on fake premises and, therefore, qualify as fake news. “It is a psychological warfare by those who have been badly hit by our policies”. The minister explained: “Our fight against corruption has meant that many financial institutions, especially banks, that fed fat on the proceeds of corruption are no longer able to do that.

“Also, international publications that used to feed fat on questionable supplements paid for by the Federal Government have seen a drastic reduction in such patronage, as the Administration cuts down on frivolous spending that was the order of the day in the past. “Therefore, it is natural that these institutions and publications would not wish to see another term for this Administration. “The truth, however, is that only the good people of Nigeria will determine who presides over the affairs of the country, not any bank or media establishment, irrespective of their influence or self importance” We won’t rest until HSBC returns our money – EFCC In view of the above reply, the Economic and Financial Crimes Commission, EFCC, in a statement disclosed via the agencies official facebook handle, opined that it wou

Read more at: https://www.vanguardngr.com/2018/11/breaking-hsbc-ubs-close-their-offices-in-nigeria/

https://punchng.com/foreign-reserves-sink-below-42bn-lowest-in-eight-months/

https://punchng.com/court-ruling-we-are-going-on-strike-labour-insists/

Court ruling: We are going on strike, Labour insists
Published November 2, 2018
The Organised Labour has insisted on embarking on a nationwide strike over the non-implementation of N30, 000 as the new National Minimum Wage, in spite of the National Industrial Court ruling in Abuja.

Mr Ayuba Wabba, President, Nigeria Labour Congress President, said this in an interview with the News Agency of Nigeria on Friday in Abuja.

The National Industrial Court of Nigeria in Abuja has restrained the organised labour from proceeding on a nationwide strike on Friday.

The strike by organised labour is scheduled to commence on Nov. 6 over the new National Minimum Wage for workers in the country.

According to Wabba, we are not aware of any court ruling and we have not been served any notice.


“We have just concluded our joint organ meetings of the Central Working Committees of the Labour Centres of the NLC, Trade Union Congress and the United Labour Congress here in Lagos.

“The meeting is the final preparation for a full engagement with the government on the new National Minimum Wage and we have taken our decision to go on the strike.

“Our decision is to go ahead with the nationwide strike unless the government does the needful,” he said.

Also, Mr Musa Lawal, TUC General Secretary, also told NAN said the centre was not was aware of any court ruling concerning the planned strike by organised labour.

“We are not aware because we have not been served any court order; we have taken our decision and we are going to stand by that,” he added.

The Nigerian Governors Forum had issued a communique after its meeting claiming that state governors can only pay N22, 500, as the new national minimum wage.

The organised labour has reiterated its position that any figure below N30, 000 would not be acceptable to labour.

Labour had earlier called on its members to mobilise in preparation for the commencement of an indefinite strike on Nov. 6, unless necessary steps are taken to adopt the recommendation of the Tripartite Committee.

https://politicsngr.com/minimum-wage-lndustrial-court-judgment-cannot-stop-impending-nationwide-strike-tuc/

NEWS
Minimum wage: lndustrial court judgment cannot stop impending nationwide strike — TUC Published on November 2, 2018 By Francis Belux
Minimum wage: lndustrial court judgment cannot stop impending nationwide strike — TUC
Alhaji Kola Olumoh, the chairman, Trade Union Congress (TUC), in Kwara has said the Friday’s judgment of the National lndustrial Court, Abuja, cannot stop the proposed NLC nationwide strike.

The TUC Chairman stated this in llorin on Friday while speaking with the News Agency of Nigeria (NAN), on his reaction to the judgment retraining the NLC from embarking on the strike scheduled to begin on Nov. 6.

Olumoh described the judgment as a ploy to cause confusion which was already belated.

He said the National body of the organised Labour Unions would appeal the judgment while the proposed nationwide strike would continue

Olumoh said labour was magnanimous enough to stand at N30,000 minimum wage for workers which could not be compared with the jumbo pay of the political office holders.

“We are fully prepared for the proposed strike in Kwara if the Federal Government fails to accept the N30,000 as minimum wage, ” Olumoh said.

He advised workers in the state to fully prepare for the impending strike and cooperate with the Labour Unions in the struggle.

The TUC Chairman alleged that most States Governments in the Federation spent about 40 per cent of the monthly allocations for salary and wondered why they were rejecting N30,000 minimum wage.

Bonanza period approaching

Court can't halt the proposed strike, the group that sue Federal government seems to be the same federal government hiding under the name of civil society group. They want to buy more time, to avoid strike causing more harm than good in the lie promises they are preparing to tell us during their campaign that will commence on 18th of this month, 2018.
The only thing that can stop strike, is signing and implementation of the agreed #30,000 minimum wage.

Mpeace:
Suspension on Unity bank lifted. https://nairametrics.com/nse-lifts-suspension-on-unity-bank-following-release-of-tesults/

OK that's good

Mpeace:
I don't think so. I think their suspension by NSE made them release the result. If not for the suspension, them for just dey hike the loss until they make small profit.
As soon as they release all outstanding results, the suspension will be lifted.

Bonanza gang might not eye this bank during our period. Anyway it will help drive the bonanza motor safely to our junction.

Mpeace:
Rubbish result wey them release wit virus so that we no go read. I catch then sha.

This is company that carried out share reconstruction 1 per 10 few years ago, meaning their loss should times by ten. http://thenationonlineng.net/share-reconstruction-unity-bank-to-cancel-105-2b-shares/
May be this time it will be 100 share par one, why their suspension, this our country the more you look the less you see.
Why should the NSE suspended their share before allowing the released of their result? This is to avoid them visiting 20 kobo. https://www.pulse.ng/news/business/nse-suspends-unity-bank-plc-5-others-from-trading-id9055896.html

BullBearMkt:
...@Chibuking81 don't let us start argument that is complex & we will not be able to finish or learn anything from. I sympathise with workers who are given meagre salaries and all that. But it has minimum effect on the outcome of the profit margin of these companies we are talking about
-was there any increase in salary when DF was giving good results last year & SP moves from N4 to more than N16?
-Naira to Dollars depreciation was not this year, it "skyrocketted" mid 2016 & people are still buying flour products
-In every market wheat and wheat related products are the cheapest irrespective of the currentprice & man pikin must chop low salary or not
-According to official figures, Nigerian economy is improving, based on the GDP. I don't want to dabble into macro economy as that is not my expertise area
-All, these companies are hedging and they have their ways around the materials used in making all their products

We all discuss to learn, I don't see it as an argument, we have been in this country together, as we are people with decades of experience, many factors contributed in the economy down tone, as a
businessman I have good number of years of experience, likewise as civil servant I have combined both.
Nigeria is on paper officially out of recession, but in practice we are now really in recession.

Believe me, FAAC (Federal Acount Allocation Committee) monthly sharing contributes a lot in the economy of our dear country. And more than 60/70 percent of this money goes for wage bill to some state 80 percent.

It's from this money Federal, State, and Local government pay their workers and use the remaining to carry on capital project. These are the money generated mainly from the sales of crude oil and other natural resources. Foreign investors comes in with their money to tap from the circulation of this money, Business activities moves well as a result of the circulation of this money.

Last year, FAAC some times shared between 300/400 billion monthly, but this time they are sharing 800/700/600 monthly, but the economy has not felt the impact from the gain of excess crude as dollar rises above 40 dollars per a barrel to almost 80 dollar and from 1.8 million barrel per a day as a bench mark used in the country budget last year to above 2 million currently.

Politicians are busy embezzling the fund, taking it abroad, some buried their own underground. It will be useful when it circulate, look around you and calculate how many new companies/ Factories are built newly, compared it with liquidated ones, where our politicians are busy owning university, schools, hospital, companies abroad.

Main while, bad economy didn't affected only workers, it also affected both the business classes, freelance, over 100 millions of Nigerians.

Back to flour companies, when people are not patronizing them again, it affect their EPS. I remember telling us when Okomo oil was at #27/28 naira that it will get to #70, why because the big yellow rubber of red oil rose from #4,000 per a rubber to about #18,000/#20,000 naira, you don't need prophet them to tell you that NSE red oil quoted companies like Okomo oil and Presco will gain more than times two in their EPS that period, thereby translating to their capital appreciation.

Anyway am more concern now for upcoming bonanza period, we are partner in progress.

GonFreecss1:
What do you all think about the future of sugar though? It has too much hate, even though I know better, that doesn't mean other people do.

All in all, I am asking what do you all think about the future of Dangote sugar? Is it bleak?

On this question, you will ask yourself, how many times in a months did people consume product produced with sugar, like beer, mineral, tea, etc, the level of consumption was affected greatly by recession.

For instance, I don't buy insurance companies stock, because It will be difficult to convince me and many others to insure, not because it's not good, but because of stories of those whom had negative experience with Nigeria insurance companies.

So how many times did you consume product manufactured with Dangote sugar before in a month, and how many times did you consume it now, did it increase or reduce?.

BullBearMkt:
...People complaining about results churning out by flour companies should look closely at what has been happening to global wheat price. I think that's what @Agbalowomeri is trying to convey. Price of wheat has being on the rise late last year and just down a bit in the last 3 months. This to me might impact the overall profit margin of the flour companies (except the coy no dey buy dem products from "honest means in order to skyrocket their profits - which should be questionable).

If you're selling your flour stocks, just don't do it in panic, because FEAR IS SHORT LIVED!

On Nigeria issue, due to high level of poverty in the land many has turn to farmers, and a lot has reduced the amount of food the consume, some are now on 101 ( eating only morning and night), While a lot find it difficult to eat even one mill a day. Flour are use to produce bread, indomie, Spaghetti and many others, many can not even afford money for most of this food stuff.

Then tell me where will flour companies make money, the civil servants monthly payment, technically has reduced by more than half. A worker that received #100,000 when 1 dollar was #180 and bag of rice was #8,000, are still receiving #100,000, some with pay cut, and currently 1 dollar is above #360 times two and bag of rice #18,000 also more than times two.

That mean, #100,000 payment then, is technically below #50,000, then what of those that received #50,000 and below. The level of poverty increased times two.

Many fall back in what their farm can produce, that's why many are not interested in flour product as such again, till economy improve. Flour rally last year because recession came by surprise, and many maintained a little with their former way of life with little saves the had, but when they understand the reality of the recession, the joined suit.

Expect upward movement in the flour companies when economy improve, may be when the government agreed on #30,000 minimum wage, that will help.

Bonanza period ahead ahead

Yayira:
I sent a mail to someone working there after that Skye news broke and this was his response..
I believe the process of changing or opening a new client account is not an easy one.. I’ve been sent a form to fill to update my informations with them I think that’s part of the process too.. “i think”

That's good. When they will receive multiple mail on change of bank advice, I strongly believe that their management will act.
Below was the message I got from them today.

Dear Mr. ******
We are working on it.

2zona:
Nawaoo, okoo though am still not comfortable with dat

Even me I am not comfortable with Polaris bank. I have done my part by sending message to them, requesting from them to Change bank to more efficient one. If Morgan is one of your stockbrokers please do well to send your own mail requesting from them to change from Polaris bank to more better one, or add another bank as an alternative.

If they have not change, many here will concentrate on other stockbrokers that uses better bank. With all this change of management , withdrawal of license and handing over to another set of Nigerians, raised a great concern. What if one has lodged a huge amount of money in the bank, and the bank happened to travel finally, will Morgan acknowledge the receipt of payment?, will the person stockbroking account be credited?, will he be allowed to buy stock using that money, when even Morgan may not have access to the money?

More voice are needed to get Morgan capital change to another bank, or better still, add another bank to their existing Polaris bank.