₦airaland Forum

fxuser:
. . wow 14 yr low ?? daz d knife of d decade

rationalmind:
Will not mind some tasere units of both as a token of appreciation

rationalmind:
FYI

dipoolowoo:
I want to believe Nigerians see Adeosun as heroin because she resigned from office, a rare thing in Nigeria. However, that should not be an excuse for the offence she committed.

One other serious thing we are missing now is the age controversy surrounding the caretaker Finance Minister, Mrs Zainab Ahmed, who, according to her CV, must have graduated from the university at 18.

dipoolowoo:
NSE Approves May & Baker Nigeria’s T.Y DANJUMA'S N2.45b Rights Issue DILUTION.
https://www.businesspost.ng/2018/09/16/nse-approves-may-baker-nigerias-n2-45b-rights-issue/

stcool:
Zenith, Zenith, Zenith...make una sell for us na!

sellydion:
Rebel Stock.

Air Serve refused to follow market trend?

Agbalowomeri:
Her Arsss is big though

currentprice:
pple will think so sometimes but when u clear the unit anther one will re appear

Infinitisi:
Mehn I carry my hand by myself give myself work

fxuser:
FBNH
- rejecting below N9 for 3rd time btw May to Date ! tug of war

Mpeace:
Full something
No single trade.

BullBearMkt:
...technical analysis buttress your price option on JBerger, but a little bit above it, i.e 17.50. That is where you have lot of bulls waiting to fight against the almighty bears

currentprice:
@ any price below N16

cc chibuking

currentprice:
@ any price below N16

cc chibuking

mendes911:
Keep loading Sir. Your money, your decision. ₦1.09 is your comfort zone, good for you. My own comfort zone is far below ₦1.00 (Doubt I would even buy this stock) and Q3 will give further guidance. I prefer prices that after making a trade, I could afford to close my eyes and go to sleep.

onegentleguy:
For the most part, I agree with u.
...and to be honest, I had a similar line of thought sometime in April.
This also adds credence to my repeated view on the company.
Again, this shows the GROSSLY UNDERVALUED price of AIICO and the immense inherent upside OPPORTUNITY therein !!

Unfortunately in this country, retail investors are at the mercies of some of these company board and management 'wolves'.
Worse still is that the regulators that are saddled with the duty to protect have often paid lip service to these issues and are sometimes seemingly a part of the rot in the system.
However, in the midst of all this, lies OPPORTUNITY !! Crooked as it is, there is a reason why they have decided not to come for our money. ...instead, opting for a special placement at near 60% ABOVE market price.
So 1st, we will look to benefit/reap from that 'gap'.
There's even a 90% chance that the proposed special placement to an Investor might have direct links to these board/management wolves. (a not-too-different scenario played out in NEM before its fast rise in price giving over 200% ROI)
We will continue to look out for WAYS to benefit from the system.
If u can not beat them (the wolves of board members and managers alike), then look out for VALUE. ...and once u spot it, join them !!
The KEY is to try to ALWAYS apply WISDOM and swiftly align when u spot an immense VALUE/OPPORTUNITY, before they come for it.
...for often times, they will come for it. Applying every means within their power.
That is Nigeria for u. ...It is simply a portfolio country.

Like I always tell folks;
" The market will sometimes present a discerning investor with 'souvenirs'.
...often times, they are even 'bigger gifts' for lesser monies.
The problem however, is with knowing when to indulge it on an exchange.
...for therein lies ur pathway to success !!"

Dupeodus:
My post here is to launch a protest about what I consider a daylight robbery of retail investors of AIICO by AIICO's Management. AIICO announced that it will be doing a private placement of 4.4 billion shares to an undisclosed investor by private placement at N1.20 per shares and is planning an extra ordinary shareholders meeting to seek shareholders approval. Please do not be carried away by this proposed price of N1.20 compared to the market price. This is because I believe that AIICO's management has been manipulating its financial statement in the last 3 years to suppress the market price of AIICO's shares in anticipation of this private placement. First, the book value of the equity of AIICO as at 31-DEC-2017 works at about N1.58 per share. More importantly though is the fact that AIICO has about N12 billion hidden assets in the undervaluation of Federal Government bonds it holds as at that date. This N12 billion was shown as a negative reserve of the AFS assets in the equity section. Think about it. This is FGN bonds which is raw liquidity. Let me explain how I came about this.

In the 2016 financials, AIICO marked down the value of its treasury bills holding by about that N12 billion naira because they claimed interest rates increased and the face value of the FGN bonds has to be discounted. They disclosed the list of FGN holdings and over 90% of them by value were at about 12.15%. I can only guess that they used a prevailing 16% or thereabout interest rates for discounting because the list of many FGN bonds in the 2017 Financial statement was at 16% - 17%. This was fair enough as in that same year, the value of liabilities for life insurance and annuities were marked down for the same reason.

However, in the 2017 financial statement, the value of of liabilities for life insurance and annuities were now marked up by about N11 billion naira depressing the profit for the year. According to the Chairman's statement, this was because interest rates reduced by 12.9%. I believe this was a mistake in that he meant interest rates reduced to 12.9 percent which is used to measure the liabilities for life and annuity contracts. You will expect the same 12.9% to be used to measure the carrying values of the FGN bonds which should wipe off the N12 billion negative AFS reserves and show that the FGN bonds are being carried at cost. Alas, the N12 billion negative equities are still in the books. As I said earlier, as at 31-DEC-2017, about 80% by value of the FGN Bond holdings of AIICO were at 12.15% while the rest were at greater than 16%. At prevailing interest rates of 12.9% according to the Chairman's statements, these bonds should be carried at cost at least because the positive margin of about 3% on the 20% of bonds carried at 16% should be enough to offset the negative margin of 0.75% on the majority of the bonds. Therefore, instead of the value of N71.5 billion at which the Available for sale assets are carried in the books, it should have been at about N83.5 billion. Consequently, shareholders funds should have been at about N22.5 billion or about N3.25 per share instead of the N10.5 billion or N1.58 per share shown in the books.

The sole purpose of this private placement is for the management of AIICO to grab the company at the expense of retail shareholders. This is a very highly capitalized company with super liquidity. The company has about N83.5 billion FGN bonds at face value and N5 billion of Cash and Cash Equivalents to service N70 billions of Insurance and Investments contract liabilities. AIICO does not need the proceeds of this private placement.

I plan to write a letter of protest to both NAICOM and the SEC on this issue. If you can, please join this fight.

Mpeace:
Etisalat left with nothing. Na nigerian guys chop the loan.
If MTN wants to leave today, there would be a long list of interested buyers even if they accummulate loans. Do you know how much it takes to capture the market size they have in nigeria? Even dangote will rush it.

Mcy56:
U cant stop deep*** from posting such comments o. Wetin you expect? Whether market no sell well well around this period.

stcool:
Prof. Na my baby you dey bash like this continue, you go beg me with N3 later. I no go sell

For the lady saying people are deceiving others to buy. Grow up, the only person taking your money is your broker and NSE, nobody asked you to buy any stock. Best is keep your money inside a fixed deposit. Are you a kid that if I buy diamond bank, that means you should buy, even with the negative news. I have my own reason for loading it.