₦airaland Forum

Chukzyfcb:
Devaluation according to my own knowledge has little or nothing to do with external debts. External debts has close ties with government export earnings, which in our case is OIL. The only way Govt will find it hard in servicing external debts is if its foreign exchange earning decreases (Ie decrease in Oil prodduction which is our major commodity for forex) so once again bro, devaluation has lil or nothing to do with paying external debts

Don't forget that our budget is quoted in naira. Debt servicing has to be accounted for in the budget in naira, and later converted to foreign currency equivalent.

Chukzyfcb:
not true bro regarding Government....Government are the biggest gainers when it comes to devaluation. This was why I often told people that if Buhari refused to devalue the naira , he shouldn't be criticised because his govt would benefit much from it. So he refusing it means starving his govt of possible wealth.
Govt still export oil which can be used to servive debt plus selling 1 barrel of oil means extra money when brought back to nigeria because the dollar exchange rate is higher. Investors wanting to leave 9ja will need to part with more naira, gifting the govt more money. Mehn the advantage for them is humongous. I dnt see why you say govt will find it hard, they are the biggest gainers in the devaluation game

I agree that they will have more naira conversion...this should provide more naira cash flow to meet wages and other naira liabilities. My argument lies in the foreign denomination debt on government books. The northward trajectory of this debt has been a source of concerns even before devaluation. It's like we just compound our problems with devaluation.

I hope those people clamoring for devaluation are happy. They've helped increased the complexity within and created more problems for our financial system. Because of the devaluation, banks will witness more problems because of their exposure to and servicing foreign loans. Government will have similar challenges, servicing foreign debt. Inflation and interest rate will continue to trend higher. How do you build a manufacturing economy when interest rate and inflation are above 15%. How do you grow the economy in the wake of all these crisis. I don't know if I should blame the federal government or blame CBN governor for incompetence.

I am yet to see the positive impact of devaluation on our economy. We are still losing more jobs than we are creating. The stock market is still loosing money.

I hope these speculators (bastards) are happy...

Source

Cancerians...just have to love them.

Happy birthday guys

I'm a big supporter of the president...but these appointments are way too one sided. Two wrong does not make a right. Just because Johnathan had a lopsided appointments does not mean President Buhari have to toil the same reasoning. And if we don't change things right now, I'm sorry the situation will only get worse. The next administration will use similar argument for his/her appointments.

One thing that the country badly needs right now is peace and unity. We need the citizens to be patriotic to their country. But for patriotism to happen, their has to be inclusive government and governance. It starts with government actions towards the social welfare of common citizens, most especially minorities. Appointment and involvement of all stakeholders in sensitive and critical positions within the economy.

Our president need to understand the importance of patriotism at this critical junction in our history before it is too late. The government needs a solid policy formulation and execution strategy to ensure the gap is bridged to avoid story that touch later.
Nigeria needs peace, unity, stability, industrialization, economic progress and others. The time for action is now.

otokx:
Will pick Afripud over Ucap any day, kindly discuss.

From a revenue generation positioning stand point, I will pick UCAP. This is because investment banking and asset management cash cow will continue to generate cash flow that will dwarf Afri prudential.
One of the reason why Afri prudential had reduced 1st quarter Pat was because of e-dividend policy initiated by NSE. 2nd reason was the initial effort by CBN to clamp down on interest rate, to boost manufacturing economy. Increase interest rate will help APR bottom line, reverse policy will hurt them. As long as these NSE and CBN policies remains, Afri prudential will continue to have a reduced cash flow.

Do we even know what we want in this country. We identify corruption and terrorism as enemy number one and two. We want to stop them or reduce them to bare minimum at all costs. Immediately we start working on these objectives, and making big strides in them, you see enemy of progress that would like to derail or kill the whole exercise.

What happened to;

I pledge to Nigeria my country, to be faithful, loyal and honest.
To serve Nigeria with all my strength
To defend her unity
Uphold her honour and glory
So help me God

The time for good people of Nigeria to speak is now. The fight against corruption and terrorism is now. The fight must continue and the momentum must be sustained. We must get our country back from these cabals/ crooks who are holding us to ransom.

This film is getting interesting

duni04:
Dont understand the excitement about UCAPs Q2 and the interim dividend people are speculating about. UCAP has never paid interim dividend, or mayb its me that hasnt gotten the interim dividend memo. I understand the urge to link Afriprud's interim dividend payment for the first time last year with UCAP. But except there has been a press release in the affirmative, it is just plain, good old monkey hunting.

It's not about the Q2 and the interim dividend alone, the excitement is about the company's business model, positioning and growth potential of the company. The investment banking business alone is a big cash flow for the company. With the connection of uncle Tony, this company will never run out of capital raising exercise for companies, debt and equity structuring servise opportunities. Their asset management business is another cash flow business considering how much the company will be pulling in fees. Security trading and trustees hip are still there.

So, let's hope the company will meet expectations.

megainvest:
They've been paying once a year but they may decide to shock the market this time... Like Zenith did last year.
I am only hoping!

Or like Afri prudential did last year

Only in Nigeria you find leaders who are supposed to be the protector of our democracy, to be the one to manipulate the system to suit their selfish agenda. Laws are made to punish and criminalize law breakers. So to our honourable senators, why should that be a problem? Why should some people be above the law?

Our problem in Nigeria has never been about the criminal code or the law, but a lot to do with interpretation and enforcement of the law. The day we start enforcing our laws in respective of the side of the divide you belong, is the day we start a new Nigerian journey.

We should celebrate him because he was the president of Federal Republic of Nigeria. That office requires high level of respect and dignity.

feelamong:
http://nairametrics.com/list-of-banks-that-meet-cbns-criteria-for-primary-market-dealers-fxpds/

From the data above, only FBNH, Zenith, UBA and GTB meet these criteria and thus currently qualify as FXPD’s. Other banks may well have to raise additional capital to stand a chance of joining this esteem club. Will this lead to a race to raise capital for most banks? We are in interesting times.

What about Access Bank?

Based on nairametrics analysis, GTB has 36.1% liquidity ratio, similar to Access Bank with 37.6%. If they are excluding Access Bank based on liquidity criteria, GTB should be excluded as well. Meaning only FBNH, Zenith and UBA meets CBN criteria.

Death penalty should not be abolished. Criminal activities such as terrorism, kidnapping, murder should attract death penalty. There has to be high penalties, consequences for these actions to serve as deterrent to others. In my own opinion, that will be the only way to reduce these crimes to bare minimum.

zendi:
Is Nem coming out with H1 div ?

Acquisition on the horizon perhaps...?

NEM...has been on a northward trajectory in the past couple of days. What is going on here? Acquisition news on the horizon? Does anybody have information on NEM?

This is a Canadian news paper. They are trying to amplify oil war so that the price of crude oil can continue to go up. They need oil price to go up. They need it now more than ever. The growth of their economy depends on it.

ogbs2020love:
Please I bought may and baker plc
on the 18th April 2016.
and closure of registrar for the stock is btw 18_22nd April 2016.
do I qualify for dividend?

When is the payment date for May & Baker?

Adesiji77:
http://nairametrics.com/these-are-the-banks-to-buy-and-sell-pre-cbn-devaluation/

So who do you buy now?

A report by Renaissance Capital in January 2016, which mimicked the impact of a 20% devaluation on the sector recommended Zenith Bank, GTBank and Stanbic IBTC as buys.

We tend to agree with the names although we would add Access Bank and UBA on the list of bank stocks to buy today.

According to RenCap FBNH, Skye, Ecobank Nigeria and FCMB would probably be quickest to breach minimum CAR requirements due to a weaker naira.

We tend to agree with some names on this list and would point out FBNH as a major SELL due to its elevated FX assets (loans) on its books.

My gurus in the house, please help. I'm trying to understand the consequences of breaking the stipulated CBN CAR requirements of prudential limit of 10%. My understanding is that, breaking CAR requirements will only result in penalty from CBN. For example, if FBNH FX position triggers and allows the company to stay below CBN CAR requirements. This will only attracts financial penalty, which FBNH should be able to cover comfortably from their FX speculative gains.

sportskid:
Well I think this is good, because it will mean more people exchanging the dollar, there will be a healthy competition and thus it will lead to the reduction of the dollar rate against the naira.Well on paper it is workable I guess

If naira is floated, it will never revalue. It will only get worse. The hawk will never allow it to revalue. Stronger naira threatens western economy, hence reason why it will never happen.

I think this news is misrepresenting and misinterpreting the CBN policy. CBN did not devalue naira. What happened to the $/285 exchange policy specifically for pms importation. Why was that not mentioned in this article.

I would not be surprise to hear that western countries are the one backing these terrorists to sabotage our economy. Terrorist should get no sympathy, in respective of who their backers are.

There is a lot of propaganda going on against first bank. Some of these banks are jostling for their market share and also their title as the biggest bank based on asset. Let's see how this play out.

It looks like rencap have an interest in First Bank. They've been trying to short the stock for a while. Let's see how First Bank reply this information.

The speculators and propagandist on a roll again. Let them continue. We will not be cajole or coerce to devalue our currency.

denko:
Isaac Boro Was killed did that stop the struggle NO! Saro Wiwa was killed did that stop the agitation NO! Sending soldiers will always result to arm struggle that even the Niger delta indigenes outside the zone will reconsider going back to join the struggle.

For every action, there will always be reaction. When you go about bombing government facilities and other private properties, you're committing terrorist activities. Terrorists activities attracts death, and they should suffer such consequence to detter others.

pussyphilia:
Patriotism my azz!

Who want to be patriotic to a country full of injustice and unfairness?

A country where able bodied youths will spend years in school, come out and put one full year of service to the country and afterwards end up jobless with no hopes.

A country where a President Jonathan who was already putting the measures to empower the youths was branded all sorts and rigged out by those who believe that the leadership of Nigeria is their birthright.I'm

A country where federal government jobs and scholarships are given to north while the SS/SE are left out.

A country where the President threw decorum to the winds and declared that he would marginalize the SS/SE region because they gave him only 5% vote.

Such a country isn't worth my patriotism.

I'd rather be patriotic to America than Nigeria.

Thank you.

The fact is, we have no country to call ours other than Nigeria. If the country gets better, it will be to our collective glory. Just like when Nigeria wins world cup, all Nigerians shares the glory together including north, east, south south and south west. If the economic conditions continues to deteriorate, all Nigerians will suffer it as well. Americans, Germans and other developed economies out their got their growing economic indices from one thing, "Patriotic Citizens". It is part of their culture, way of life. It is the reason why Americans and these developed economy continue to make movies that celebrates patriotic Citizens. The objective is really to reinforce the ideas and ideals of patriotism. Watch movie like "Edgar Hoover" and you get what im talking about.

I agree with your point on federal government. They need to treat citizens as equal. They need to lead by example, ensure needs of all citizens matters and becomes their utmost priorities.
I believe a responsible government can achieve this. It start with strong ideas, purposeful planning and careful execution. If we want Nigeria to work, there has to be structural and systematic patriotism. There is no way around it.

I think it is high time the government put efforts in place to ensure and entrench patriotism among citizens. Government need this now more than ever. This should rank parri passu, with accountability and transparency. The same level of resources used to tackle corruption, transparency including; financial, media, propaganda, time and others should be used to develop patriotic Nigerians.

I think this is a very important policy, and should be pursued and supported by all. With this policy in place, it should drastically reduce our security risk.

poshestmina:
Staying with a broke,lazy, unfaithful drunk will make her the Bey of Naija?

I know Tj to an extent, dude is one messed up and arrogant womanizer
Better to be a divorcee to be a dead or hypertensive married woman

What an irony of life. Isn't it funny for women to swing the pendulum the way it suits their lifestyle. When Whizkid had a baby with the 2nd baby mama, a lot of women were advising the girlfriend to hang in there, that she's put in some much time, she'll soon reap the fruit of her labor while ignoring all of Whizkid's shortcomings.

Now the story has changed when it comes to this Tiwa saga.

Godisfaithful:
Na so boss . Naa our Oga at the top Agbalowomeri get all the portfolio for NSE

All the portfolio, common be real. Agbalowomeri only has 2 stocks in his portfolio; Afriprudential and Ucap.