benedictuyi:
If you're looking to open a domiciliary account, run away from stanbic ibtc..

They don't let you transfer deposited funds abroad

I don’t work with StanbicIBTC but their action is in line with CBN policy.

If you want to transfer it out, then it has to be an inflow and not cash deposit. So withdraw the cash and exchange it for an inflow with an approved BDC or finance firm. They will only charge you a token for it.

LauraClasikVibe:
If you are here and you still save or invest in Naira, with all due respect, you are cheating yourself

I understand the angle you are coming from considering the fast depreciation of the naira against USD and it makes a whole lot of financial, economic and investment sense.

Because one still have spend naira, I normally advocate holding 90% of one’s investment in usd and 10% in naira. Then convert the returns on the usd investment to naira to fund your lifestyle while the 10% is for emergency.

This helps to hedge against currency risk, headline inflation and better enhance one’s purchasing power.

For instance, just last week, I bought some units of OPTT below $3.50. Guess what, I am already over $1000 up (N490k) which I can decide to liquidate, bring it back to the country to boost my spend in naira.

So I completely agree with you.

$NIO impressive Q4 result. Sales went up, margin went up, and cash went up as well. Has $6.5b in cash compared to $3.3 in Q3. Huge production growth plans. Deliveries to grow 18% quarterly. Too much value in this stock.

I know we have a lot of newbies joining the forum now to trade in US stock market and it cannot be overemphasized, the need to always go extra mile before investing in any stocks. Same goes for the useless reddit stock alert disguised under fighting HFs (hedge funds) in shorting under performing stocks. People should not blindly follow alerts or stock picks or copy trading thinking they could make fast money from it because more often than not it always end in premium tears! The truth is, 99% of the time, the person/analyst giving the alert has already taken position in the stock and needs to push the price up.

So that people don't get me wrong and those who have taken it upon themselves as a service to this forum by posting stock alerts don't get discouraged, their selfless spirit is appreciated but there is need for users of such information to carry out due diligence on their own before committing your hard earned funds.

Where you are deficient in skill and knowledge to carryout such exercise, follow the steps below;

1. Is the stock trending or consolidating?
2. What is causing the stock to behave or move in such manner?
3. Look for news catalysts; launching of new products, FDA approval, strategic alliances (GSAT and Qualcomm) etc
4. Find out the nature and performance of the company's product?
5. Is it a single or multiple product company?
6. Does the product give the company competitive edge over its competitors?
7. Is the company growing demand for its product or shrinking.
8. Is there any government policy which may likely impact or boost revenue performance of the company
9. Is revenue growing or declining? If declining, ask why?
10. Is operating income (profit before tax) growing at expected rate?
11. If the company is at development stage (most bio-tech companies fall under this category), what is their cash burn rate?
12. Check the liquidity condition. What is the size of cash at bank? Is receivable decreasing or increasing viz-a-viz short term payable. How is operating cashflow utilized.
13. Does the company have debt in their capital structure or solely equity financed? Note that too much debt exposes shareholders to huge financial risk?
14. Is the debt performing or not.
15. Look out for any going concern threat e.g hertz cab, AMC, etc
16. Insider trading
17. Resignation or employment of key management staff e.g. managing director, chief finance officer etc
18... Any other relevant information.

My one cent.

1kinggy:


Their system is overwhelmed and they have backlog registration to sort. Some people here are yet to finalise their verifications too.

Like yours truly. Just did mine anyways since last year.

BrokerHaruna:
BTC, XRP and BTT cryptos are on fire!

Don’t chase. They will still drop to value zone.

Mfunkynation:

MTN Rice

Nothing really but it’s just that it’s a steal below N300

megawealth01:
Abeg don't group WAPCO for there jare... Although I don sell all my WAPCO sha... I follow those waiting for it at below #20

Nothing is impossible. May be in the next 4 to 6 months since NSE only witness bull in 3 out 12 calendar months.

longlife20:
http://www.nse.com.ng/Financial_NewsDocs/32275_VITAFOAM_NIG_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR.pdf

Good for NT to LT play.

Leggitsam:
For those that had issues with trading platforms, here is another app and platform that worth trying. I am not a user of the platform coz i am comfortable with T212.
A friend in UK suggested the app.
You never can tell, some people might find it interesting.
The app also allow users to invest in US Market.

https://play.google.com/store/apps/details?id=com.eigthsecurities.tradeflix

People should be careful with unregulated offshore brokers in their bid to start trading US stocks.

Proper due diligence is strongly advised.

MaziHarri:
Hello guys,
Please between WeBull and Yahoo Finance which is better for news and proper updates on stocks.

Any special advantage in any of them.

Both are okay. You can also consider seeking alpha, bezzinga, investors.com, market watch and morning star.

As economists have said that human wants are insatiable but resources are scarce. You wish to be inside every promising stocks on the Wall Street but funding is a major constraint.

When I peruse news, research reports, charts of listed stocks and I spot opportunities everywhere I feel like chasing all...but resources are limited

It implies that opportunity lost can be regained in multiple folds because there exist loads of other opportunities to jump on. Thus, No need to wail over missed or little profits.

To leverage multiple opportunities, adopt investment diversification strategy by having a slice of each or rank them all and go for the ones with good risk to reward benefits.

As a general rule, consider market sentiment and news catalyst when the objective is short to medium term play. To gauge sentiments, price and volume are the lead indicators. Check if price is in an uptrend supported with volume (positive market sentiment) or in a downtrend (negative market sentiment). Understanding these principles help in shaping one’s entry and exit to have a profitable trade.

megawealth01:
Future trades although if they mean biz this time around they will tear their IPO price sef

I agree with you that if they really improve their efficiency and business performance leveraging on the asset acquisition any price below N5 is a steal. The acquisition has positioned the company to access feedstock for its power plants at a cheaper price which will help drive down opex and increase the bottom line.

locodemy:
Going with the % which Transcorp is gaining daily, it gonna end the week at 1.55.
Abeg make una release just 1m units for me today o.I am ready to pay 1.40 for today per share.

Loco, that's too low. If you can pay N3.5 i will sell to you.

ebuka1997:


It increases manipulation, insiders can even short their stock and all sort of front running. Nigeria’s market is fragile, no solid fundamentals and not like there’s any fed here backing the market, foreign investors/hedge funds would step in and short the market to hell

The issues you’ve raised are valid but not insurmountable. Like in other climes were it is practiced, these concerns were also expressed and sufficiently addressed. In our case and as it obtains in developed markets, the solution is strong regulation. With adequate regulation and rules guiding short selling properly defined and enforced it will help secure investors confidence in the market.

In the case of institutional investors and FPI taking advantage of the opportunity to crash the market being major players in the market, the regulator can bar them from short selling or restrict the size of their short positions. This way the market is protected from “S&’D”.

Another major factor to prevent market manipulation is banning naked shorting. I think this is already stated in NSE rule book.

The benefits of short selling are enormous and healthy for our market. It helps provide liquidity, market information, and market correction.

moneymanager:


http://www.nse.com.ng/products/equities/short-selling

up (Take note)

It exists for now only in the rule book but not yet operational. There are still some knotty issues fundamental to its take off that remain unresolved.

ebuka1997:


Shorting would damage the market

Really? Could you elucidate more on this statement.

Happy New Year folks.

Sorry I have been absent for sometime. Too many targets to chase.

Wish you all a prosperous and profitable year.

If only NSE can be a two-way market. It will really help our market in terms of volume and activity. As it is, money is only made when prices are going up which shouldn't be. I hope they can deepen the market very very soon as its long overdue.

Happy New Year everyone.

Wish you all a prosperous and profitable year.

There are strong indications that controversial banker and Managing Director of First City Monument Bank (FCMB), Adam Nuru, will soon be swimming in the pool of sex scandal rocking the internet.

This is because, Business Live gathered a group identified as JUSTICE FOR TUNDE THOMAS has launched a petition on change.org calling on the Central Bank of Nigeria (CBN) to sanction the banker over what they described as indecent behaviour.

Recall, the bank’s chief was accused of laundering N573 million for Ibrahim Magu, suspended chairman of the Economic and Financial Crimes Commission (EFCC). An allegation the FCMB later denied, stressing that the transaction was done in error.

As the sex story was narrated, it was alleged that the banker was responsible for Tunde Thomas’ marriage breakdown that eventually led to Tunde’s death few days back.

The story as posted on the website read:
“Tunde Thomas died recently like about a week or two from depression. Apparently, kids from his marriage to Moyo Thomas belongs to wife’s boss (Adam Nuru, the current MD of FCMB). Moyo Thomas left Tunde to go to America with the kids, she told him kids were not his when she got to America. He (Tunde) was later down with stroke but recovered.

Apparently, Tunde met someone else he was going to remarry but apparently didn’t recover from the first Marriage issues. Tunde was just made director for the MFB he works for. Got back from work last week and had a cardiac arrest 2 days before introduction to pregnant new girlfriend.

This is a case of gross misconduct based on ethical grounds and an unjustifiable economic oppression by the elites (Adam Nuru) against the less privileged in the society. The MD has been doing everything possible to sweep this case under the carpet. We implore the Central Bank of Nigeria as the apex regulator and the board of FCMB to investigate this for the integrity of the bank and Nigerian banking industry. This is a case too many , while I agree that this is not the full story , the minimum will be an investigation into this unethical conduct by the current MD of FCMB Bank Adam Nuru”

https://www.change.org/p/godwin-emefiele-compel-the-cbn-board-of-fcmb-to-dismiss-adam-nuru-on-ethical-grounds-marriage-scandal

DrFunmisticGlow:
i rejoice and congratulate them, but we all know that they did IVF. Nothing miraculous about it.

It is miraculous because not all IVF is successful.

Our God reigns!

pcguru1:
So I went to the bank to get statement and uploaded document, and still trade 212 rejected regardless if anyone has any idea but for the time I think I will just go with bamboo for now, but won't mind advises. Thanks so far

Request for a address confirmation letter from your bank. That should work.

Newbies Don’t be deceived by the show of green it’s a bull trap. Index need to fall very well for full correction can take place before strong bullish reversal can happen.

Wahala for who no get money

With FDA approving use of Pfizer/BioNtech covid-19 vaccine it’s time to look at some stocks to be impacted positively. Airline stocks, hotels, courier company stocks (ups and fedex), cinemas among others.

Happy investing.

Uyi213:
Please I want to start forex and was referred to this link

https://fbs.com/?ppu=9334415

Is it legit?? And also is Liteforex Legit?? Someone please do respond

Go to you tube there are loads of videos there you can watch and learn from.

Be wise.

As Innoson seeks an order restraining GTB from transmuting to a Private and a Financial Holding Company until GTB pays it over N32Billion Judgement debt

The Supreme Court of Nigeria has struck out GTB’s motion filed to set aside its earlier decision/order made on 27th February 2019 dismissing GTB’s appeal against Court of Appeal judgement of 6th February 2014 in favor of Innoson Nigeria Ltd

Recall that The Federal High Court, Awka Division on March 27th, 2019, pursuant to Supreme Court dismissing GTB’s appeal, granted leave to Innoson Nigeria Ltd to enforce and execute the judgment and Garnishee Order Absolute made by the court coram Shakarho, J at the Ibadan Judicial Division on the 18th of May 2010 and the 29th of July 2011 respectively. This order was concurrently affirmed by the Court of Appeal in the judgment of 6th February 2014 and by the Supreme Court in its judgment of 27th February 2019.

As Innoson Nigeria Ltd commenced the tedious act of the execution, GTB rushed to the court vide its desperate motion on notice seeking orders staying or suspending the execution embarked by Innoson Nigeria Ltd and also seeking orders setting aside the exparte Orders made by the Court granting Innoson leave to enforce the judgment and to issue the processes of executing same.

Whilst resfusing GTB’s application and staying further proceedings the court further held that the order it made on March 27th, 2019 in favor of Innoson Nigeria Ltd granting it leave to enforce the judgment and issue processes of execution of the judgment are valid; also that all the steps taken to levy executions in pursuance of that order are still valid and are not vacated; whilst all the prayers by GTB in its motion of 1st April 2019 are not granted.

GTB however rushed back to the Supreme Court and applied for an order setting aside the Supreme Court’s judgement dismissing its appeal against the above judgement. However, the Supreme Court struck out the motion on Tuesday, November 3rd, 2020.

While Innoson Nig Ltd awaits GTB to come up with a payment plan for it’s over N32Billion Judgement debt, GTB resorted to a scheme of de-registering itself as a public limited liability company and re-registering itself as a private limited liability company and a financial holding company as well. Innoson Nig Ltd, as its creditor, has as a result sued GTB at the Federal High Court and therein seeks the following order of perpetual injunctions:

(a) restraining the 4th Defendant (Corporate Affairs Commission) from deregistering the 1st Defendant (GTB) as a public limited liability company and or re-registering the 1st Defendant (GTB) as a private limited liability until it-GTB- pays the outstanding judgment debt of N32, 875, 204, 984.38k arising from Suit Nos: FHC/L/CS/603/2006 and No. FHC/AWK/CS/139/2012 respectively affirmed by the appellate courts in appeal Nos. CA/1/258/2011, SC.694/2014 and CA /E/288/2013 to Innoson Nig Ltd;

b. an order of perpetual injunction restraining the 4th Defendant (Corporate Affairs Commission) from registering or re-registering the 1st Defendant (GTB) as a holding or financial holding company whether as a public or private limited liability company until it- the 1st Defendant(GTB) -pays Innoson Nigeria Ltd the outstanding total judgment debt of N32, 875, 204, 984.38k (Thirty two Billion, Eight Hundred and seventy Five Million, Two Hundred and four thousand, Nine Hundred and Eight Four Naira, Thirty Eight kobo) arising from suit Nos. FHC/L/CS/603/2006 and FHC/AWk/CS/139/2012 respectively affirmed by the appellate courts in Appeal Nos. CA/1/258/2011, SC.694/2014 and CA/E/288/2013:

c. An order cancelling the 1st Defendant’s (GTB’s) special resolution and or any other of its resolution that it should be deregistered as a public limited liability company and or be re-registered as a private limited liability company and or a holding company until it -the 1st Defendant (GTB)- pays Innoson Nig Ltd the total outstanding judgment debt of N32, 875, 204, 984.38k (Thirty two Billion, Eight Hundred and seventy Five Million, Two Hundred and four thousand, Nine Hundred and Eight Four Naira, Thirty Eight kobo) arising from suit Nos. FHC/L/CS/603/2006 and FHC/AWk/CS/139/2012 respectively affirmed by the appellate courts in Appeal Nos. CA/1/258/2011, SC.694/2014 and CA/E/288/2013:

d. an order setting aside the 3rd Defendant’s (Security and Exchange Commission) No -objection to 1st Defendant’s proposal to be re-registered as a private limited liability company and as a holding or a holding financial company:

e. an order setting aside the 2nd Defendant’s (Central Bank of Nigeria) approval -in- principal granted to the 1st Defendant (GTB) to operate as a holding or a holding financial company.

f. an order of perpetual injunction restraining the 2nd Defendant (Central Bank of Nigeria) from granting the 1st Defendant (GTB) a financial holding company license and or a final approval to operate or carry on business as a financial holding company whether in its present name or as a private limited liability company until it, the 1st Defendant(GTB )pays the Plaintiff(Innoson Nig Ltd) the total outstanding judgement debt of N32, 875, 204, 984. 38k (Thirty Two Billion, Eight Hundred and Seventy-Five Million, Two Hundred and Four Thousand, Nine Hundred and Eighty-Four Naira, Thirty-Eight Kobo) arising from suit Nos. FHC/L/CS/603/2006 and FHC/AWK/CS/139/2012 respectively affirmed by the appellate courts in Appeal Nos. CA/1/258/2011, SC.694/2014, and CA/E/288/2013.

Cornel Osigwe
Head of Corporate Communications and Affairs
IVM Innoson Group

Waiting to see how market reacts to this...

smartking1:
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