₦airaland Forum

GeneralDae:
Just going through the nairametrics Twitter page reading 9 month reports of several companies across different sectors. Every company has declared profit above what they declared in the corresponding period of 2025 (some by even wide margins).
Out of about 12 - 15 companies I have seen so far, only Ecobank had almost thesame profit like in 2025 (a marginal decline), the rest made insane profits over 2025.
Even Ecobank must have gained in dollar terms and only marginally declined in naira terms (something unheard of by any firm in 2024 or even 2025).

Stop taking paraga.

Which companies declared insane profits?

Lol, there was never a time Peter Obi owned Fidelity.

He was just one of the biggest major shareholders of the bank.

BTW, the bank has three main bloc. Peter Obi bloc, Tompolo bloc and another person who i dont want to mention.

Peter Obi and the other bloc has always alternated the CEO and Chairmanship of the board. Currently, the Chairman is from Obi bloc,

Let see where the next MD comes from

Mankind2024:
https://www.nairaland.com/8773897/nonso-okpalas-dangerous-game-how


Nonso Okpala’s Dangerous Game: How VFD Group Is Funding Illiquid Assets With Commercial Paper.

Our "class monitor" has come again. 😀😀😀😀

KarlTom:
Probably Calvado$ with Trademarks Global Concepts Limited as the IV

Not very clear but I got some info that the idea is to position it as the fintech arm of First Holdco.

Some staff of the later are being deployed to the former especially the software and IT guys

FirstHoldco is acquiring E-transact

God, You are Great.

Thank you for helping me

megawealth01:
Una too like trouble for this forum 😂

We need to dey clear all these people who think they can gate keep this platform.

If the guy don't like what is happening here, he should go and open his own room na.

Mankind2024:
AN OPEN WARNING TO MR STOCKPROMOTER.

My dear Mr S. Promoter,

In 2024/25, I cautioned you against your habit of aggressively pushing your stock picks down the throats of forum members. I am confronting you again: stop polishing fundamentally weak, illiquid and seemingly moribund stocks in what appears to be an attempt to create exit liquidity at the expense of unsuspecting investors.

After accumulating these stocks, you appear to target inexperienced members who may become exit buyers. Remember, a rotten fruit does not become sweet because it is wrapped in gold foil, and a dead horse cannot run simply because its saddle is polished.
No amount of promotion can permanently conceal poor fundamentals.

To prospective victims of such promotions, please exercise caution. Research every company independently before investing.
When the seller's voice is louder than the company's fundamentals, proceed with caution.

I do not envy you. I am an experienced investor across multiple exchanges, with a track record of successful investments. My concern is that this forum should promote genuine investment opportunities, not become a dumping ground for questionable stocks. If Nigerians had the courage to challenge unethical conduct rather than remain silent, perhaps our society would be in a better place today.

I also remember your previous claim that I met you on this forum and would eventually leave it for you. You are gravely mistaken. My reduced participation has been due to repeated bans by moderators, which I believe discourage open criticism and accountability.

Although the saying goes that a leopard cannot change its spots, you are not a leopard; you can change your ways. An investment forum should be a marketplace for knowledge, not a hunting ground for unsuspecting investors.

I have spoken again. Let the fundamentals speak louder than the promoters, and let investors protect their hard-earned money.

Regards.

Wetin you dey smoke self?

And who made you a "class monitor" here?

Nigerian Businessman Dangote’s Portuguese Former Security Chief Dies After Alleged Arrest, Detention Over Resignation


A Portuguese security expert who worked for Nigerian billionaire businessman Aliko Dangote has died in a road accident in Portugal after reportedly suffering severe depression following his arrest and detention by the Nigerian police over his resignation from Dangote Industries Limited, according to his lawyer, Fidel Albert.

Albert, who described the deceased, José Miguel Gaspar Mateus, as a close friend, alleged that Miguel was arrested in May 2026 after resigning from his position as Strategic Security Lead at the conglomerate and accepting a better-paying job in Abuja.

In a detailed personal account made available to SaharaReporters, the lawyer accused Dangote and his associates of instigating the police action, alleging that Miguel was detained, forced to sign an indemnity in favour of the company and subjected to a search of his residence over allegations of sabotage.

Albert stated that the police subsequently found no incriminating evidence against Miguel and that the complainants failed to substantiate their allegations.

He said the former security executive eventually returned to Portugal after the police investigation was concluded but had suffered severe emotional and psychological distress following the events in Nigeria.

Reflecting on his friend's death, Albert wrote, "But tough though he was, Nigeria, this unique country of ours, found a way to break Miguel in ways he never imagined."

The lawyer said Miguel died after taking his sports motorcycle out for a ride in Portugal. According to Albert, the deceased's wife told him that Miguel had gone out in an attempt to distract himself from his difficult circumstances when he was struck by oncoming traffic.

Contract Expired In 2025, Lawyer Says

According to Albert, Miguel was recruited to Nigeria to head security operations across Dangote's business conglomerate, which has interests in several sectors.

The lawyer said Miguel was employed under a three-year contract that expired in May 2025. He described his friend as a highly capable security professional who performed his duties satisfactorily throughout the contractual period.

Albert said he had personally seen Miguel's performance appraisals and evidence of the annual bonuses paid to him under the contract.

However, he alleged that Dangote Industries continued to employ Miguel after the contract expired without formally renewing it, leaving him with his basic salary but without the additional benefits and performance-based bonuses provided under the original agreement.

Describing the circumstances, Albert wrote, "And one year passed. Only salaries. No contract. No bonuses. No perks."

He alleged that Miguel repeatedly sought a formal contract renewal but received assurances that the matter would be addressed.

According to the lawyer, the situation eventually became unacceptable to Miguel, who had a wife and three children in Portugal and needed to maintain a stable income to support his family.

Albert said Miguel's wife was seriously ill, while two of their three children were on the extreme end of the autism spectrum and required round-the-clock care.

The lawyer described Miguel as the family's sole breadwinner and primary caregiver, saying his responsibilities extended beyond his own financial comfort.

"Thus, staying alive was not an obligation. Making money was not an option. These were bounden obligations," Albert wrote.

He said Miguel eventually decided to leave the company after receiving an offer of a better-paying and more rewarding job in Abuja.

According to Albert, Miguel formally communicated his resignation to his employers in May 2026, disclosed the company he intended to join and participated in meetings to ensure a smooth handover of his responsibilities.

He said the company's human resources department acknowledged the resignation and wished Miguel well.

However, Albert alleged that the situation changed after Dangote requested a meeting with Miguel.

Arrested After Being Asked To Return To Office

Albert said Miguel was asked to attend a meeting at Dangote's offices on May 5, 2026, following his resignation.

According to the lawyer, Miguel arrived early and waited for about five hours before being told that Dangote could not meet him and that he should return the next day.

Albert alleged that Miguel returned on May 6 as instructed and was again made to wait.

He claimed that police officers subsequently arrived at the premises, identified Miguel and arrested him before taking him to the Zone 2 Zonal Command headquarters of the Nigeria Police Force in Onikan, Lagos.

The lawyer said Miguel was not initially informed of the reason for his arrest.

Describing the incident, Albert wrote that "several gun-totting, and battle-ready detachment of policemen stormed the building."

He alleged that Miguel was identified to the officers as the person they had come to arrest before they took him away in a waiting vehicle.

According to Albert, Miguel was eventually shown a petition submitted by Dangote and associates accusing him of sabotage.

The lawyer questioned the basis of the allegation, arguing that Miguel's resignation from his employment did not, in itself, establish criminal wrongdoing.

He also challenged the use of the police in what he described as a dispute arising from an employment relationship.

"Sabotage Allegation, arrest and detention by police. Simply for resigning an employment," Albert wrote in his account, describing what he considered the central injustice in his friend's treatment.

Lawyer Alleges Miguel Was Forced To Sign Indemnity

Albert further alleged that Miguel was compelled to sign an indemnity undertaking in favour of Dangote's company as a condition for his release from detention.

According to the lawyer, the document required Miguel to accept responsibility if any security incident occurred at the company after his departure.

Albert said Miguel signed the undertaking after spending several hours in police custody.

He alleged that the following day, May 7, police officers took Miguel to his residence at Lakowe Golf Estate, Lagos, and searched the premises for evidence relating to the alleged sabotage.

According to the lawyer, the search did not uncover incriminating material.

Albert said the arrest and detention had immediate consequences for Miguel's prospective employment in Abuja.

He alleged that the new employer learnt of the police investigation and withdrew the job offer before Miguel could resume work.

The development, according to Albert, left Miguel without the new job he had accepted and without the financial security he had anticipated for his family.

He also claimed that Miguel was required to report to the police weekly while the investigation continued, restricting his movements and preventing him from returning to Portugal to attend to his family.

Albert said Miguel subsequently contacted his former employers and offered to withdraw his resignation and return to work.

However, he alleged that the company declined the offer.

Recounting the response, Albert wrote, "HR responded. Don't come back. We have moved on."

He described the development as particularly devastating because Miguel had lost his prospective employment and was still required to report to the police.

‘Police Found No Evidence Against Him’

Albert said the police issued a report dated June 3, 2026, about a month after Miguel's arrest, indicating that no incriminating evidence had been found against him.

According to the lawyer's account of the report, the police had invited representatives of the complainants to substantiate their allegations, but the company's representatives failed to appear.

Albert also said the report indicated that no prima facie case of breach of trust or conduct likely to cause a breach of the peace had been established against Miguel.

He described the outcome as an eventual vindication of his friend, but argued that it came too late to reverse the consequences of the investigation.

Albert wrote, "For the first time, I commend the Nigeria Police for doing the right thing in this case."

He immediately added, however, that the police action had taken too long.

"But then, even the exculpation came rather too late. It took too long coming. It met a dying man," he wrote.

The lawyer alleged that Miguel had, by then, suffered severe depression and had become physically and emotionally withdrawn.

"Yes, by this time, Miguel was far gone. Completely crumbled under the weight of acute depression," Albert wrote.

He said Miguel's condition deteriorated as he struggled with the loss of his job, the uncertainty surrounding his future and his inability to provide the level of support his family required.

Miguel Returned To Portugal As Mental Health Deteriorated

Following the conclusion of the police investigation, Albert said Miguel was eventually permitted to leave Nigeria and return to Portugal.

The lawyer said they remained in contact and that Miguel wanted to pursue legal action over what he considered wrongful treatment by his former employers and the police.

According to Albert, Miguel's mental health continued to deteriorate after his return to Portugal.

He alleged that his friend began attending psychiatric sessions to regain his mental balance.

In his account, Albert described the consequences of the alleged treatment in Nigeria as devastating for Miguel's family, which depended on him financially and for the care of his wife and children.

He wrote that the events had left Miguel unable to properly care for his family.

"It shattered his family. He couldn't properly care for his wife and kids," Albert stated.

The lawyer said Miguel's death came as a shock because they had spoken on the morning of the day he received the news.

Albert explained that he had been preparing legal papers to challenge the alleged violations of Miguel's fundamental rights.

He said the proposed case was scheduled to be filed on August 31, 2026, and that he had spoken with Miguel on the preceding Saturday morning to finalise plans for the filing.

Later that day, Albert said he went to a beach house with friends and was unable to receive calls because there was no mobile network.

He subsequently noticed missed calls from a Scottish friend who was close to Miguel and his family.

According to Albert, the man sent him an urgent message asking him to call back.

When he returned the call, the friend informed him that Miguel had died.

Albert recounted his reaction in the account, writing, "All he said to me was: 'Fidel, I'm sorry to inform you that Miguel is dead.'"

He said he was stunned because he had spoken to Miguel earlier that day.

Lawyer Says Miguel Died In Motorcycle Accident

According to Albert, Miguel's wife said her husband had taken his sports motorcycle out for a ride in an attempt to distract himself from his circumstances.

The lawyer said Miguel was struck by an oncoming vehicle and killed.

Albert acknowledged that he could not determine precisely what Miguel was thinking or experiencing at the time of the accident.

"Maybe he did not concentrate. Maybe he could no longer focus," he wrote.

Albert nevertheless maintained that the circumstances surrounding his friend's final months demanded accountability.

He said Miguel left behind his seriously ill wife and three children, including two who required round-the-clock care.

He accused Dangote of continuing with his business activities while Miguel's family struggled with the consequences of his death.

Albert also alleged that he had written letters seeking compensation for the family but had received no response.

"I have written letters to demand compensation for his family. All have been ignored," he wrote.

The lawyer said he remained determined to pursue the matter on behalf of Miguel's family.

"But I do know this won't go away, something will be done. At some curve, Miguel will find justice," Albert stated.

Lawyer Questions Employee Welfare Requirements For Listed Companies

Beyond the allegations surrounding Miguel's arrest and detention, Albert used his account to question whether the welfare of employees should form part of the considerations for companies seeking to list on the Nigerian Exchange.

Dangote Petroleum Refinery’s IPO (Initial Public Offering) is currently open, offering 4.1 billion ordinary shares at ₦525 each, making it the largest IPO in African history.

Subscription began on September 14, 2026 and has been extended to close on October 2026 27, with listing expected on the Nigerian Exchange (NGX) in December 2026.

He said he examined the listing requirements of the Nigerian Exchange and the Securities and Exchange Commission after reflecting on the circumstances surrounding his friend's death.

According to Albert, he found requirements relating to shareholders' equity, pre-tax profits, operating track records and financial performance, but questioned the absence of what he considered adequate consideration of employee welfare.

He argued that employees are central to the profitability of companies and should not be overlooked when corporate performance and governance are assessed.

Albert wrote, "So what about the geese that lay the golden egg? The employees? These do not matter at all?"

He also questioned whether companies should be able to benefit from strong financial performance without sufficient scrutiny of how they treat their workers.

The lawyer indicated that he intended to examine the issue further, suggesting that Miguel's case had raised broader questions about corporate accountability and employee protection.

Wife Expected To Become Claimant In Planned Legal Action

The legal action Albert said he had prepared for Miguel has not been filed in its original form, and the draft documents will need to be amended following his death.

The draft exclusively provided to SaharaReporters contemplated a fundamental-rights enforcement action before the High Court of Lagos State against Dangote, Dangote Industries Limited, a senior company official and police authorities.

Following Miguel's death, Albert has indicated that the papers will have to be amended so that Miguel's wife can become the claimant.

"As for today, Miguel, a tribute to you, dear friend," Albert said, paying tribute to his late friend. "But your matter will not die. It will survive you bro. For your children's sake!"

SaharaReporters was unable to reach Dangote Industries Limited’s Group Chief Branding and Communications Officer, Tony Chiejina, for comment on the allegations. He did not answer calls or respond to a message.

Nigeria Police Force spokesperson Anietie Iniedu also did not answer calls or respond to a message.

Na this kind of Job Prodigal Son got after lavishing his inheritance.

Dotherightthing:
If husband and wife pull their 3k together, it may cater for a young family of 5-6 for a day.

Rice - 1 mudu 1600
Beans - 1 mudu 1300
Palm oil - half bottle - 900
Vegetable oil - half bottle - 900
Beef - 1000

Poverty should be your middle name

chimex38:
If NNPCL eventually list on Ngx;
Heavy Weight Market Cap champions:
NNPCL
DR
OandO
Seplat
Aradel

Ngx becomes Oil commodity exchange.

Add NLNG too

psalmsjob:
We asked Peter Obi as governor of Anambra state for 8 years to show us something like this but he cannot instead he said he brought civility to governance so where is the civility now?

This is a governor of less than 4 years in office showing workings later they will say it is because we hate igbos and if Mbah of Enugu is not igbo enough i don't know who can say this Enugu governor is not a presidential material as is but only Peter Obi and his supporters enjoy civility in governance onye nzuzu iberibe

You are a clown. Peter Obi has a compendium of all Project he did.

ALL FAKE

90% of the classrooms are abandoned and Mbah has not done up to 500km road. Infact, outside Enugu City, Enugu state is largely abandoned.

The only area I give him a pass mark is SECURITY

This one has lost before the race started

faoogoke:
Haba!

loL, the thing closed at 1.08 today. It is coming "home"

1600 Ajah

SonOfDSoil01:
muumu, what as this got to prove? Is this the NBS stats that states that Enugu is the second highest state to generate igr after Lagos? And have you bothered to check the igr of the 36 states and FCT to arrive at the conclusion that Enugu is the second highest? Give us the NBS stats to prove your claim. Very funny clowns

You should be able to make your point without insult or they didnt teach you that in the state university you attended

SonOfDSoil01:
yes, according to radio biafla…..why not post the NBS stats here for us to see and leave Cho Cho Cho…..how many industries Dey Enugu? Or what economic activities is taking place their for them to become second to Lagos?

Enugu State government, yesterday, announced that it generated over N406 billion from Internally Generated Revenue (IGR) out of the N509 billion projected in the 2025 budget.

Of the amount, tax revenue accounted for N51.5 billion, representing 12.6 per cent, while non-tax revenue stood at N355.2 billion, representing 87.4 per cent of the total IGR.

The state government said the amount represents 80 per cent performance against the budget, as well as 125 per cent IGR growth from the 2024 figure of N180.5 billion.

State Chairman of the Enugu State Revenue Service, Ekene Nnamani, stated that the revenue performance has shown that Enugu State has developed fiscal resilience and sustainability, as evidenced by yearly improvements in revenue.

He added that the feat was achieved through the deployment of technology, the widening of the tax net, and other government reforms.

He recalled that Governor Peter Mbah had, upon assuming office in 2023, promised to change the narratives in the state’s IGR profile to fund his vision for the state.

Nnamani added: “The total IGR of Enugu State in 2022 was N26.8 billion, made up of tax revenue of N16.2 billion and non-tax revenue of N10.6 billion.

“I was appointed by the governor in August 2023, and he mandated that we at the Enugu State Internal Revenue Service must ensure to ramp up the state’s IGR in a profound way that reduces the state’s reliance on the Federation Account Allocation Committee (FAAC) receipts.

“He also directed that we look beyond tax revenue to boost the state’s IGR. He immediately gave us a matching order to generate state salaries, pensions, and overhead internally and mandated the Accountant General to always seek funding for salaries, pensions, and overheads from IGR.

“Consequently, in 2023, we pushed the IGR to N37.4 billion, made up of N22.9 billion tax revenue and N14.5 billion non-tax revenue.

“In 2024, we moved the IGR to N180.5 billion, made up of N30 billion tax revenue and N150 billion non-tax revenue. At that point, Enugu State had begun to think differently, and its dependence on FAAC for every government activity had drastically reduced.

“The shift from tax-revenue-driven funding had occurred by 2024. Enugu State focused on natural resources and recovery and revival of moribund assets to move our revenue into stability.”

Source: https://guardian.ng/news/enugu-generates-n406-billion-igr-in-2025-targets-n870-billion/

PuristForest:
VERITASKAP Eyes Recovery as Nigerian Insurance Sector Firms

Veritas Kapital Assurance Plc operates within Nigeria's non-life insurance segment, a sector that has drawn renewed attention following NAICOM's ongoing recapitalisation drive compelling insurers to shore up balance sheets and improve underwriting discipline.

https://ewnation.com/veritaskap-eyes-recovery-as-nigerian-insurance-sector-firms/

Not financial advice...DYOR

We are waiting for it around 50 to 75k

This is the stupiest topic I have seen on the frontpage

AdegbemiroX:
No be person sound so intelligent?

If you ask Obi same question, he would tell you every 22-year-old should have a house worth #200m, a car worth #50 and a monthly pay of #2m at least. He would make sure of that as a President.

That guyman called Obi is a joker. He does not talk reality and good to know he has his personal audience named Mumunis.

Your life don spoil.

anonimi:
Has he also employed as many as 19,500 teachers plus other civil servants like Makinde, who does not call himself a progressive governor

Abi how will Mbah achieve free education for all Enugu children, with all these SAs and SSAs?


@@@@@@@@@@@@@
@@@@@@@@@@@@@@@@@

LMAO, 19000 on nairaland. The people he employed in 2023 have not even resumed

Every Enugu government always pays Nairaland to move useless topics about the state to front page.

Enugu has been totally ungoverned in the last 3 years.

Forget the optics

All the people who passed the interview for the same smart school recruitment in 2023 have not resumed till date

sterlingD:
They should better come out to clarify and debunk this o before investors and the likes panic and move to exit their funds from the bank totally o

Lol, any investor that makes investment decision based on this is not serious

mikeapollo:
Is this not too high?
How would SMEs and industry have access to cheap funds if MPC is 26.5%?

If we reduce interest rate, dollar will trade at 1600 NGN in a month.

As a single guy in Lagos

Food - 120k (30k weekly)
Transport -60k
Savings towards rent - 50k
Utilities (Data and light) - 50k
Offering and Tips: 20k

Umuahi was to silent these people. This looks false

JESHUA!

MY FATHER, MY GOD. I LOVE YOU

ojesymsym:
That stuck is worse than Oando and Access put together. Last I checked I was on 44% loss, the one I should sold to buy it appreciated by 10-30% increase.
For some weird reasons I thought it was in the same leagues as UCAP, learnt later that it was an insurance company.

Na wa oooo,

I entered at 2.5. I don average down tire.