₦airaland Forum

mikeapollo:
There is no currency in the world that is not defendable, including the naira.
If you want to believe the useless and cluelesss propaganda of the current govt to justify their reckless devaluation of the naira, just say so. Period!.

Agbalowomeri:
They should just shut down dividend for 5 years and build equity to 4 trillion
Abi my suggestion no good?

ppogba:
You are correct. Assuming Access deliberately breached the rule, CBN should be bold enough to admit it's regulatory negligence and if it is a new rule just as you imagined, CBN should still be blamed to for their untoward haste in wielding the stick.

Bottom line:

Na Naija wey dey.
But truth be told, Access Bank sef too over do. When you start acquiring both lame and crippled banks in back water Kenya and Uganda, then, it's management should look itself in the mirror.

One thing I know about Nigerian banks is that if you give them a yard, they are ready to take a kilometer.

jonnysessy:
You have to think of the larger gain. The improve electricity will favour your wife more than the ice block she is selling. Opportunities are abound when we have constant electricity. Just pay a visit to Aba or call anyone you know there. Their orientation and way of life have changed. I hear they even pay above your DISCOs band A rates, yet they are happy because industries are springing up, small and medium business are cashing to the bank, just because there is constant power supply, Individuals are seeing their own. When you live in a place that the system works, you will surely find your footing. Crime rates has reduced because a lot of jobless youths have found one thing to do with their lives. It could be barbing, welding, sewing, shoe cobbling, hair dressing, photocopying etc. The list is endless, when citizens are meaningful engage who will think of crime. There is a popular saying: The more the merrier
Just like in the stock market, if more people are exposed to it, there will be more money to be made. The money you will make will not affect the one I would make.

ppogba:
Good Morning All.

Whoever cares should go and read the story with the headline " WHY ACCESS BANK MAY NOT PAY DIVIDEND IN H1 2026" on Nairametrics.

Very interesting revelations there.

Agbalowomeri:
Oga e never reach one week wey you buy ACCESS you no wan allow us rest. Better wear your patient jacket and pick ya seat. Plenty people don dey this bus for years Lol

Namaster:
So Ecobank is in the SAME situation as UBA and Access YET Ecobank will still pay dividends.

Ecobank's provision is DOUBLE that of Access and NEARLY double that of UBA and Ecobank will still pay dividends.

Interesting!

Also, pray for AccessCorp today.

ojeysky:
It's interesting how we just find excuses for inefficiency. So because we have a huge population is the reason we cannot increase our production. It is the reason we cannot manage what we are producing and our resources effectively. One would think our population should be an advantage, the Chinese are more populous than us but again you would argue that their system is different and call it a wrong comparison as well. Let's keep praising ourselves indulging in our mediocrity

ojeysky:
Libya pay the lowest taxes during the time of Gaddafi yet education was free, free housing, plus lots of other freebies. I use Libya intentionally because they are oil producing country like us. UAE is another, the taxes is low and see their growth.

We seem to excuse govt inefficiency with low taxes as if that is the problem. What has the resources in their hands been used for, even the so called low taxes they've collected, how have they used it for the benefit of the populace. How then do you have the moral to tax more when the one entrusted to you have been used so badly!

BabsO2:
Look at how ETI and ACCESS stated their Q1. UBA needs no correction as they are not entangled with any Tier 1 USD equity instrument. I have not looked at WEMA, but the last I recall they have no dollar equity instrument patch.



ETI Q1
Profit after tax 197,528
Attributable to:
Ordinary shareholders 128,336
Other equity instrument holder 5,066
Non-controlling interests 64,125

ACCESS Q1
Profit attributable to:
Equity holders of the parent entity 200,526
Non-controlling interest 38f 16,011
Profit for the period 216,537

Access lumped up what ordinary shareholders are entitled to with what Tier 1 equity instrument holders are entitled to together and labeled it as Equity holders of parent entity. This will cause erroneous overstatement of EPS of shareholders. The Tier 1 equity bond ($500m) holders are intitled to an interest payment of 9.125% per annum. A more accurate EPS estimate should deduct 500*1450*0.09125/4 = NGN 16,539m from the Q1 profit before computing a more accurate earnings per of (200526-16539)/53317.838433 = NGN 3.45 For your PE of 5 common sense estimate Access Valuation becomes. 3.45*4*5=69. Because of too much uncertainty on the health of their acquisitions don't think they deserve the same PE as UBA.

So corrected EPS for Shareholders for ACCESS Q1 = N3.45
Your PE of 5 estimate for Access should value it at N69
But Access deserves a fair of PE of 4 if other banks are 5 that is common Sence value of 55.2 ;

mikeapollo:
Na Access bank volumes be your issue or abi na the dividend?
You either ignore the volume or join them.
All die be die

940m units is clearly an insider or institutional investor

EDUECO:
The 10 percent is as good as your dividend.

I sold about 8 percent of my ACCESSCORP in my investment portfolio for about ₦35; and this is my dividend for 2025 financial year.

megawealth01:
Almost 190m offer... Una no get joy at all for UBA because of common dividends

But seriously UBA should be punished more than this just like MTN was punished 2 years ago so they can sit up

Raider76:
Blame the CBN. Why should they rubbish a big bank like the UBA? They should have allowed at least N1.00 dividend out of N9 EPS.

Mankind2024:
E lọ fi ọkàn balẹ, UBA is àgbò tó fi ẹ̀yìn rìn lọ kò sá, agbára ló lọ mú wá.

Mankind2024:
It is a fundamental principle of financial integrity that one must not mischaracterize a transaction to suit a specific narrative—or, as the proverb suggests, "give a dog a bad name just to hang it."
​Regarding the acquisition of the 20.07% stake in Seplat Energy by Heirs Energies, there is no documented evidence or regulatory filing to support the claim that the transaction was financed using UBA Plc funds. Such a move would be contrary to the strict corporate governance and "Related Party Transaction" frameworks that govern Tier-1 financial institutions.
​The acquisition was anchored by major multilateral financial institutions, specifically:
​Afreximbank (African Export-Import Bank): Provided the primary credit facilities and long-term financing necessary for Heirs Energies to expand its portfolio.
​Africa Finance Corporation (AFC): Acted as a key institutional partner, providing the structured capital required for large-scale energy equity acquisitions.

https://businessday.ng/energy/article/heirs-energies-acquires-20-stake-in-seplat-energy-in-500-million-deal/

robobo:
This is not exactly as u stated it (i.e. overstated profit). The mechanics of calculating impairment under ifrs 9 differs from the CBN prudential guidelines (as well as each countries prudential guideline). The rule per CBN is that if the CBN calculation is higher you transfer from your profit to the reserve but if IFRS is higher you maintain the figure from IFRS meaning you cant take out of the reserve. I suspect the difference will largely be because of the new 100% provision for insider related borrowings.

Thanks for the info. I did not know of the difference between ifrs and the CBN impairment standards. The CBN one appears too stiff to me though.

Meanwhile All Nigerian banks (and most international big banks all over the world) adopt the IFRS 9 standard for financial reporting, so their will always be a difference on impairment calculation every year. Thekey is the difference should not be as large as this one from UBA hence my thinking that it is from the new rule of 100% provision for insider related credit which is peculiar to UBA in this instance

KarlTom:
Note 4.2 d:

As the IFRS impairment is less than the prudential provision, a transfer of additional ₦183.4billion is required from retained earnings to regulatory credit risk reserve at the Group and a transfer of ₦4.115billion was made to regulatory credit risk reserve from retained earnings at the Bank, as disclosed in the statement of changes in equity. These amounts represent the difference between provisions for credit and other known losses as determined under the prudential guidelines issued by the Central Bank of Nigeria (CBN) and the Central Banks of foreign subsidiaries, and impairment reserve as determined in line with IFRS 9 as at year end.

nosa2:
I have noticed that none of these super profitable moves are posted the day they are made. Why tell us you bought something and it did 10x when you didn't tell us the day you bought it and for the price you bought it.

For me the philosophy behind all this audio trades is fraud. They are looking for people to come and meet them to manage money for them.

I believe myself to be an above average analyst when it comes to picking out investments, I post my trades the day I make them. I don't do it so I can manage money for anybody (If you give me your money I will use it to eat suya). I post my trades here because I intend to show what is possible with good analysis, then I intend to stop posting here and post exclusively on www.ngxforum.com . If you want to keep having the discussions like that you are free to come and meet me there.

To all the people who know how to post historical super trades congrats. But if you want people to believe that you know what you are doing, post what you do the day you do it. If you cant do that then you are no different from Bernie


P.S I know two people on this thread who are billionaires, one has a portfolio of about N7b the other about N2b. none of them will come and be announcing themselves for security reasons

Agbalowomeri:
Okay I take it that you didn't get the joke

Agbalowomeri:
You sef don join the 'audio' billionaire geng

Mankind2024:
Frugality Is Not Deprivation
To some Nigerians, especially in Yoruba culture, frugality is often mistaken for alaroro — stinginess. But in the context of financial independence, frugality simply means eliminating waste and avoiding anything that does not add value to your life.
Many Yoruba readers will relate to the habits of constant aso ebi, owo ẹgbẹ, and other social contributions made just to “feel among.” These expenses quietly drain resources that could otherwise build long-term wealth.
Frugality is the discipline of avoiding wastage of scarce resources. For instance, my phone is a Samsung A56 with no fault. Buying an S24 simply to “feel among” adds no real value. This mindset is what destroys the foundation of financial independence, and I am not a fan of it.
Frugality does not mean my children will not attend good schools. In fact, I pay over ₦6 million in school fees yearly for the three of them.
Frugality is not a reason I refuse to help people or avoid so-called black tax. I spend an average of ₦500,000 monthly supporting others.
Frugality also does not prevent me from enjoying life. I go out once in a while and treat myself. My body no longer tolerates alcohol like in my younger years, but I still enjoy burukutu, which is readily available in Abuja.
Frugality has never taught me to deprive myself of the merits of life.
It has taught me prioritisation.
Prioritisation of savings.
Prioritisation of investment and diversification.
Prioritisation of financial independence.

Mankind2024:
You Nigerians Can Doubt Anything… But Let Me Set the Record Straight
In none of my posts — old or recent — did I ever claim that I turned ₦1 million into ₦1 billion. That was never my story.
I left the Federal Civil Service in 2011 with just ₦1.4 million in my pension account. That account has received no further contributions since then. Today, it stands at only ₦4.1 million — a painful reminder of how slowly pension grows compared to inflation.
If there is any human being whose approval would truly mean the world to me, it is Warren Buffett. Because when I look around Nigeria and see countless successful billionaires who never stepped into a university classroom yet built empires through sheer grit and smart ventures, it humbles me.
The only real leverage we “educated” ones have over them is the power of equity investment — owning pieces of great companies and allowing compounding to work over time.
Many so-called educated Nigerians still doubt even the President when he boldly declares his vision to grow Nigeria’s economy to $1 trillion. So it’s no surprise that some doubt an ordinary person like me whose next quiet ambition is to grow my NYSE portfolio to $1 million.
The moment I share any progress, the usual response from the “like and omo osi” crowd is to dismiss it as luck or claim my journey is not genuine.
For the record:
I still wake up every day for a regular 8-to-5 job, Monday to Friday.
I practice extreme frugality.
My only weapons are discipline, patience, and determination.
This is the real story behind the numbers.
There is still over ₦140 million of my own sweat and labour sitting in bonds and mutual funds. I inherited nothing from my parents. I had no powerful connections — only the knowledge I gained from the NSEMPA thread and the books of investing legends.
Go back and read my older posts. You will see one consistent message: ordinary people can achieve extraordinary things through consistent saving, disciplined investing, and the magic of compounding.
I don’t seek validation from doubters. I only hope my story encourages at least one young person out there who is quietly grinding, saving, and investing — just like I was years ago.
That’s all.

Zagee:
3-4years of "initial hardship?"
It is the nature of privilege to blind.
Economic maradona!!

stcool:
Una go still queue up at N60 and N80 for Access.

Na here we dey... please this is not an ad to buy, as I am overloaded here and my judgement may be bias

E be like the result still dey shock CBN

Streetinvestor2:
Why is it when people like you post.It is always about the people to sacrifice
Tell us the sacrifice the people leading are doing as example. Is this government not living larger than life.Look at the recent Tinubu visit to UK officially. Did you see the kind of jamboree it cost the country with no benefits to the country. Do you know the budget for the city boy nonsense happening right now.Abeg leave all this yeye talk about the people

Itzlinda:


Sha give us heads up. make we follow you chop

Anyway, with the atmosphere I noticed in the north, I think the only way Tinubu will get re-elected again is if he massively rigged south-west and south-south result. That's the only for him to win the second term.
Even the APC members in the north are not going to vote him because of the hardship. many believe he is only waiting to win the second term and the hardship will double.

May God help us sha.

I am starting to believe the person at the top is not really the issue but our collective attitude as a people, and the system in general is the problem.

My bangledash friend told me after they succesfully toppled the last government through protest and riot, there is now insecurity in the country and the new leaders appeared clueless on how to tackle it. on corruption, he said some sectors have improved while others have gotten worse, and the new leaders that took over appeared to be hungry and are looting more than the old government.

I just tire for all the third world countries. seems like a curse.

May God choose the best for us

Valthegreat:
Oboy! The gap between JSE and NSE is like the distance between heaven and earth. NSE can't reach the distance in 20 years time even if they place an embargo on JSE growth. We must give it to the whites that they know how to run countries and economies. Zulus and Xhosas couldn't have achieved anything close to where South African economy is today on their own but they know how to make mouth because people who believe in development have built the system already.

jonnysessy:
If they can pay that much, expect a rally in the share price. I am actually thinking they will pay N2.00k, their outstanding number of shares is humongous when compared to GTCO, Zenith bank and UBA.

At last most banks will likely do share reconstruction. This will be the pay back time for all the bonus enjoyed in the past in the banking sector.

EDUECO:
Iraq,Afganistan and Libya were also accused of being therorist nations; but history has shown that it was all propangadas.

The UK also used propagadas to start the Opium war in China.The Opium war was started in order to counteract or destroy the advancing Chinese economy .The USA also used the Covid 19 form of propaganda but it never worked against the Chinese economy because China has learned from the Opium war with the UK.

Both the UK and the USA have the same thing in common;if they cannot control you,they will use propagandas to give you a bad name in order to start a war with you.

jonnysessy:
I do not see the ambitiousness in my expectations. Is UBA moving forward or backward if they pay N3.00k final dividend. Need i remind you that in 2024 financial year UBA paid N2.00k interim dividend and they cap it up with N3.00k final dividend. I am only being conservative and modest here with the expectation of N5.00k final dividend. Afterall, they only paid 0.25k interim dividend. Hence, if they therefore pay N5.00k final dividend they have not done anything spectacular, they only repeated the feat performed last year. Is GTCO and Zenith Bank that declared improved dividend having two heads.

Valthegreat:
Honestly I lost over 5m by not selling at the peak price. Mega really understand this game wella.
EDUECO should continue to wait until he becomes an ancestor before Access Bank will make him Otedola.