₦airaland Forum

There’s talk of a 20million bpd cut, who has information abeg?

Lockdown continues as long as necessary meanwhile no help for citizens hmm

emmanuelewumi:
That was what happened in 2018.

Compared to their fellow fugaz members who are gaining more than 200b.. anyway they’re not mates

emmanuelewumi:
The bank is the company

So it’s their other subsidiaries that boost the profit?

DexterousOne:
I believe it's the entire holding company

I suspect there are some loss making subsidiary within that holding group

In their financial statement, the group made a profit of 73 billion while the company made a profit of only 13 billion

yom2:
if that happens then march on the streeets is very likely

I think the lockdown would definitely be extended, in Lagos at least and there has already been unrest in some places in Lagos already, as long as Lagos provides palliatives it’ll be alright or maybe they’re waiting for more private individuals to help them as usual.

emmanuelewumi:
About 15 years ago, FBN paid dividend of N1.70k at a time when GTB and Zenith bank paid dividends of about 70k.

Now GTB and Zenith bank can pay dividends of N2.80k, while FBN paid less than 40k.


GTB made an income of less than N500 billion and converted N186 billion to profit after tax, while FBN made over N600 billion and converted less than N80 billion to profit after tax

Sir if I’m correct , fbn is a holding company so this profit just the bank or the whole holding company?

ositadima1:
I haven't sold anything yet but this is for buy

And I’ve been paying 1.35% both buying and selling on Afrinvest... I’ll think about leaving if I ever sell stocks and withdraw my money.

locodemy:
Na wah for this man o.
Which platform doesn't offer those services you mentioned?

Bro,better negotiate,that brokerage fees is too much.

Anyway,you are not a jijo man.you don't need 7 to 10% Sha.

How much does Morgan charge abeg

Maticja:
Hey mate I just got an email from PWC to submit my CV for internship... Can I get the template you used..thanks in advance

Okay you can send me a mail.

[quote author=Maticja post=88063803]Hey mate I just got an email from PWC to submit my CV for internship... Can I get the template you used...

Thanks to everyone that showed us the way on this forum, including those with bearish predictions. @ogg @rabbidoracle @mcy56 @seyisanya and all other ogas

So no market till Tuesday, wawu. Let NSE take a break too, happy Easter in advance guys.

onegentleguy:
PRESS STATEMENT BY THE MINISTER OF AVIATION, Sen. Hadi Sirika...

“Civil Aviation is on the exclusive list. No other person but the federal government has the authority to legislate that. The Nigeria Air Force and the Armed Forces are also on the exclusive list. There is no other person but the federal government that has the legal right to legislate that."
I tried sending you a mail, Regards.
“So, the Air Force officer who jumped the Commander in Chief and ignored, who also jumped the Chief of Defence Staff and ignored, who jumped the Chief of Air Staff and ignored to call a governor to come into the property of a federal government and blaming the Nigeria Air Force has exhibited dangerous ignorance and incompetence grossly."

“So, the police that followed the governor in there to make the arrest also exhibited dangerous ignorance from our perspective in civil aviation."

“We approved the flight and we did in the national interest. All of those flights were to improve the national revenue to which River state is the greatest beneficiary. So, those flights by Caverton, Aero Contractor, Bristow, Arik and a couple more were for national interests and improved national revenue."

"At a time when oil has gone below $30 and the cost of production is $30, in the wisdom of President Buhari, he thought that this is allowed even in this national pandemic so that the nation will not be crippled and the national revenue will not be lost."

“It is against this background that we have the authority being it exclusively on the exclusive list that and we have the powers in civil aviation guided by the Civil Aviation Act 2006 approved such flights."

“So, those flights were approved lawfully and legally. We will do everything lawful and legal and reasonable to get those pilots back and the operations will continue in the national interest.”

https://thenationonlineng.net/we-approved-flight-by-caverton-helicopters-into-port-harcourt-fg/

Very much in line with the post above !!
Again, NO need to banter. ...it's a very minor matter, which will be sorted in no time.

To those in; HOLD !!
To those wishing to align; ACCUMULATE !!

NOTE: Due diligence still applies.

Enough said.

I tried sending you a mail, Regards.

There is the strong possibility of an oil cut tomorrow at OPEC plus meeting as USA practically’orders’ Saudi Arabia to cut supply

Mcy56:
Chai!!
This stock was begging buyers up till this morning when trading started but they were looking away. It sold down to 1.41 as at yesterday before bouncing back to close at 1.51.
It was even shouted enough here.
Hhmmm, it's well.

I just got the money I wanted to use to trade, it was tied up previously unfortunately

Isn’t fcmb touching 1.60? I placed a limit order to buy at that price I don’t know why it’s not been filled yet by my broker. I used Afrinvest self trading app.

https://punchng.com/fg-grants-three-year-tax-holiday-to-25-companies/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2319912+%3D%3E+MORNING+NEWS+HEADLINES&utm_content=7ed1ef833ca93182f695d363eed35cc911d70f5d

Did anyone else read this? That Lafarge got a tax holiday of about three years

onegentleguy:
Me big man?
...me that is still struggling to get my March minimum wage to support my stay at home following the lockdown in most states.
And the month ends today sef. Chaii !!

Btw, the news should not prevent u from buying into the stock if u so desire.
The pivotal thing is that any such move should align with ur investment strategy and goal after carrying out due diligence.
MTN is good, but when I look around the 'NSE room', I see better coys that one can permute from.

It is well.

Haha no I mean the price is high for my allotted funds, and the dividend yield isn’t that tempting. When the lockdown was announced I actually had Mtn in mind as one of the companies that could benefit from people using data and credit like we’re doing now unless they succumb to public protest to reduce their data cost which is unlikely... I wanted to buy Mtn at 90 but before my bid could be filled it quickly ran away.

with all your world class analysis here I’m sure you’re fully loaded ready to attack prices in the market

onegentleguy:
MTN GROUP will push on with a plan to reduce its majority stake in the wireless carrier’s Nigerian business, though turmoil caused by the coronavirus may require the sale to be done in smaller chunks than anticipated.

The impact of the pandemic on international financial markets doesn’t change the importance of selling part of the 79% shareholding to local investors, Chief Financial Officer Ralph Mupita said in an interview. However, the rest of a three-to-five year plan to dispose of 25-billion rand ($1.4 billion) of assets will probably take a back seat for now, he said.

“In Nigeria we still want to do part of our retail offer, even if it’s a smaller part of the total planned sale,” Mupita said by phone. “We are applying our minds to doing this at the moment."

MTN is disposing of part of its largest division after a series of disputes with Nigerian authorities, most recently over tax payments and the withdrawal of cash from the country. The plan is to sell about a 15% stake to local investors, reducing MTN’s ownership to about 64%. MTN Nigeria Communications Ltd. was listed in Lagos last year, and is the country’s second-biggest publicly traded company.

Nigeria is MTN’s biggest market, accounting for a third of overall 2019 revenue and almost 40% of earnings before interest, taxes, depreciation and amortization. The Johannesburg-based company is also the biggest provider of telecom services in the country, with almost 69 million customers, according to the Nigerian Communications Commission.
Share Rally

The drastic fall in oil prices, hurting major producers including Nigeria, and the outbreak of the coronavirus has weighed on MTN’s share price, which hit 15-year lows last week. The stock has since rallied for six straight days, and traded as much as 21% higher in Johannesburg on Tuesday -- the biggest jump in two decades.

“We of course have no visibility on how all of this could play out, but the business currently has a resilient balance sheet and is highly cash generative, with most of our business coming from pre-paid contracts,” Mupita said.

MTN’s cash position was bolstered by the sale of 14 billion rand in assets last year, including stakes in telecom-tower companies in certain African markets. Some of that was paid in dollars, which provides a currency hedge against the weakening rand, the CFO said. MTN also has a credit facility that can be accessed if needed, he added.

MTN expects an increase in data usage as more and more of its markets go into lockdown due to the outbreak of the coronavirus.

“We want to make sure that our networks have resilience and capacity,” Mupita said. “We are looking at where we can drive broader coverage.”

https://www.bloomberg.com/news/articles/2020-03-31/mtn-moves-ahead-on-nigerian-stock-sale-with-markets-in-turmoil

And I wanted to buy Mtn oh but it’s for the big men like you... let me find prices like first bank and uba sir

seyisanya:
Averaging down is the way, sir, if the fund is available. Nothing is wrong with the coy's fundamentals! I bought GTB at N28 but now my breakeven price is very close to the current market price.

Thanks but at least you received dividend from that no word yet from wapco...

anyone heard anything about wapco? because on my portfolio it's very red.... they're to release result today right? Thanks.

pluto09:
You have to look at the outflow against inflow.
FPI are still selling more than they are buying, the ratio was even worse in February.
We are on a long thing.

Yeah same thing with the domestic investors, everyone is leaving the market.

http://www.nse.com.ng/market_data-site/other-market-information-site/FPI%20Report/NSE%20Domestic%20and%20FPI%20Report%20February%202020.pdf

The Foreign Investors we’re still in the market as at February according to this report from NSE... the domestic Investors even dumped more than them

Mcy56:
It's good below N4 but keep monitoring the price so you can pick at best bargain price or you keep buying in tranches, seems no one is sure of anything now cos it's not even about FA or TA again.

Thanks

thesilentone:
Good for who? The buyer or the seller? I'm just asking for a neighbour.

i want to buy it... i'm asking if it's a good entry price

Mcy56:
.....but some people are still making use of the opportunity by buying some of the fundamental stocks.
Zenith: Over 94M+ sold so far
GTB: Over 40M sold already

is buying first bank below 4 good?

bigjay01:
is this not the Enugu COVID-19 death of 2 weeks ago?

No it’s supposedly the former MD of ppmc Suleiman Aisha achimugu

for anyone this might impact... first death recorded in Nigeria

Fidelity have dropped their audited financial statements with a proposed dividend payment of 0.2 kobo, is that a good result @rabbidoracle @onegentleguy

thesilentone:
UK govt will pay 80% wages of those that would have been laid off as a result of Covid. The self employed too want more help. The liquidity after this season will be high. Even financial institutions are deferring mortgage payments for three months, they've termed it 'mortgage holiday'. Onifa, please continue your good work of shedding light on these matters. Naysayers have a role to play too.

Student loans payment in the US have also been postponed too.

RabbiDoracle:
Una just dey see una own . Others living outside Nigeria have seen this.

Q2 of Nigerian banks could be affected if there is a lockdown or quarantine of major states, the type seen in EU or China.

You better go and stock up garri

Do you think a shutdown is feasible in Nigeria?