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 Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 6:22am On Sep 06 |
*NAICOM Press Release: Niger Insurance Plc Remains in Receivership*. NAICOM has issued a public notice to debunk claims by a "purported management" of Niger Insurance Plc published in newspapers. NAICOM calls it "false, mischievous, and grossly misleading." *Key Points from NAICOM* *1. Licence Status* - *Niger Insurance Plc’s licence remains cancelled* since 2022 due to "insolvent state of affairs" and "persistent inability to pay verified insurance claims" - *Receiver/Liquidator in place*: Otunba Sanya Ogunkuade, Esq. appointed by NAICOM - *Company remains prohibited* from underwriting new insurance business *2. Court Cases Timeline* - *2022*: Former directors sued to challenge licence cancellation + receiver appointment - *Jan 31, 2023*: Federal High Court struck out the suit. Validated cancellation + receiver appointment - *Feb 27, 2025*: Court of Appeal also struck out the appeal - *Pending*: Further appeal to Supreme Court by same former directors - *June 5, 2026*: Justice J.K. Omotosho delivered another judgment in a fresh suit seeking same reliefs. This is now on appeal at Court of Appeal. NAICOM + Receiver have filed for stay of execution *3. NAICOM’s Allegations* - Some former directors named as Plaintiffs in the June 2026 suit have "disclaimed knowledge" and said their names were used without consent - NAICOM has petitioned the *Inspector-General of Police* over "brazen and unlawful activities" and attempts to "unlawfully interfere with or strip the assets" meant for claim settlements *4. Receiver’s Mandate* - Continue to realise assets for settlement of liabilities - Continue payment of verified claims pending final winding-up *NAICOM’s Warning to Public* 1. Former Board and management "remain dissolved and non-existing" 2. Stakeholders should "distance themselves" from anyone purporting to act for the Company aside from the Receiver 3. All enquiries should go to: *Otunba Sanya Ogunkuade, Esq.* - Plot 217, Upper Grace Plaza, 3rd Floor, Shetima Munguno Crescent, Utako, Abuja. *How This Relates to Universal Insurance Case* Both cases show NAICOM enforcing NIIRA 2025 recapitalisation: - *Niger Insurance*: Licence cancelled 2022, still in receivership in 2026. Court battle ongoing - *Universal Insurance*: Licence revoked Aug 14, 2026 for missing July 31, 2026 capital deadline. Court granted restraining order pending Sept 16, 2026 hearing NAICOM is clearly taking a hard line - cancel licences for non-compliance, appoint receivers, and warning the public against dealing with dissolved boards. 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 11:14pm On Sep 05 |
*BUA Foods Plc - Major Expansion + N504bn Dividend* 📈 *Here’s the breakdown*: *Key Highlights* *1. Massive Expansion Plans* BUA Foods is entering its biggest growth phase yet: - *Wheat milling capacity*: Major increase to meet rising domestic demand - *New product*: Launching *Noodles* to enter the staple foods market - *Edible oils business*: Finalizing this arm - *Goal*: Become Nigeria’s largest food manufacturing company + one of Africa’s most integrated food businesses *2. Record 2025 Financials* - *Revenue*: ₦1.77 Trillion, +16% YoY - *Profit After Tax*: ₦518.4 Billion, +95% YoY - Despite a "dynamic operating environment", they cited efficiency + disciplined execution *3. Shareholder Payout* Shareholders approved: - *Final Dividend*: ₦28.00 per share - *Total Dividend Payout*: *₦504 Billion* That’s one of the biggest dividend payouts on the NGX this year. *Why this matters - According to Chairman Abdul Samad Rabiu* > "We are building scale because Nigeria needs strong indigenous companies capable of competing at the highest level... By strengthening local manufacturing, we are investing not only in our business but in Nigeria's industrial future." The plan is to: 1. Increase local production 2. Strengthen supply chains 3. Reduce dependence on imported food 4. Support Nigeria’s food security ambitions *Context* - *Q1 2026*: PAT still grew +13.6% despite revenue dipping -10.73% due to cost discipline - *FY 2025*: 97% payout ratio and 41.54% Gross Margin at ₦1.77T revenue. *In short*: BUA Foods had a record year, is reinvesting heavily into wheat, noodles, and oils, and is returning ₦504bn to shareholders. |
| Car Talk › Re: Help Me Choose The Kind Of Car I Should Buy As A First Timer by essentialone(m): 5:17pm On Sep 05 |
Hello! 🙌 Congrats in advance on your first car. At 27 and planning to keep it 10 years, reliability + cheap maintenance is key. With *₦12m budget* and your priorities: *reliability, fuel economy, cheap parts, parts availability* — here’s the honest breakdown of the 3 you mentioned: *1. Toyota Corolla* *Best for: Cheap running cost + Peace of mind* - *Reliability*: 10/10. This is Toyota’s "bulletproof" car. Engine and gearbox rarely give issues. - *Fuel*: ∼13-16km/L. Most fuel efficient of the 3. - *Maintenance*: Cheapest. Mechanic anywhere in Nigeria sabi am. - *Spare parts*: Everywhere. Lagos to Kogi to Yola, you’ll see Corolla parts at every junction. And cheap too. - *Downside*: Small, less "big boy" feel vs Camry/Lexus *₦12m can get you*: 2018-2021 Nigerian-used or clean 2015-2017 Tokunbo LE/XLE *2. Toyota Camry* *Best for: Comfort + Still reliable + Size* - *Reliability*: 9/10. Same Toyota engine family. Very solid for 10 years. - *Fuel*: ∼11-14km/L. Drinks a bit more than Corolla but not bad. - *Maintenance*: Still cheap, but a bit more expensive than Corolla. More parts to maintain. - *Spare parts*: Very available and affordable. "Naija mechanic favorite" - *Upside*: Bigger, more comfortable for family/business. Holds value well. *₦12m can get you*: 2015-2019 Nigerian-used LE/SE or 2013-2015 Tokunbo XLE *3. Lexus ES / IS / RX* *Best for: Luxury + Comfort* - *Reliability*: 9/10. Same Toyota engine, so engine is solid. - *Fuel*: ∼9-12km/L. Heaviest and thirstiest of the 3. - *Maintenance*: Most expensive. Parts cost 2x-3x Toyota parts. Specialists needed sometimes. - *Spare parts*: Available but NOT cheap. Lexus tax is real 😅 - *Upside*: Luxury feel, very comfortable, quiet, holds prestige. *₦12m can get you*: 2011-2014 ES350 or 2010-2013 RX350 *My recommendation for YOU* For 10 years ownership on ₦12m budget in Nigeria: *Go for Toyota Camry 2015-2018* Why: 1. More comfortable than Corolla for long term 2. Fuel economy still decent 3. Parts cheap + available everywhere 4. Doesn’t depreciate like crazy 5. Gives you that "big car" feel without Lexus maintenance wahala *2nd choice: Toyota Corolla 2018-2021* If fuel and absolute lowest maintenance is your #1. You’ll save a lot over 10 years. *Avoid Lexus* for now if you want "cheap to maintain". It’s sweet but maintenance will stress you, especially years 6-10. *Other suggestions in ₦12m range* 1. *Honda Accord 2016-2018*: Reliable, comfy, good fuel. Parts available but slightly more than Toyota 2. *Hyundai Elantra 2017-2019*: Very fuel efficient, cheap parts, 5-year warranty if Tokunbo *Quick tips before you buy* 1. *Get a trusted mechanic + OBD scan* before paying. Avoid "accidented" or flooded cars 2. *Nigerian-used > Tokunbo* if you can verify history. Less customs wahala 3. *Check C of O papers* if you’re buying from dealer. And again, congrats! Which one dey call your name pass among the 3? 2 Likes |
| Romance › Re: Easiest Way To Stop Porn And Masturbation (Personal Experience) by essentialone(m): 5:05pm On Sep 05 |
Sexual Harassment accusation, is a tool only used by ladies to punish men that they hate. |
| Romance › Re: I Laughed During Sex by essentialone(m): 5:05pm On Sep 05 |
Sexual Harassment accusation, is a tool only used by ladies to punish men that they hate. |
| Jobs/Vacancies › Re: CDCFIB Clarification On Dress Code For Oral Interview – 2024/2025 Recruitment by essentialone(m): 5:03pm On Sep 05 |
Is this okay for me to use? 1 Like
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| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:34am On Sep 05 |
Agbalowomeri:Wetyn Oando do world people naa? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:31am On Sep 05 |
Imalwayshorny:Thus says the one who is always hornyyyyy |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:30am On Sep 05 |
Stockhunter:Why naa? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:14pm On Sep 04 |
essentialone:How did Seplat and Bua Foods miss out on this expanded List? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:12pm On Sep 04 |
*Full list of 31 Nigerian stocks* officially cleared by FTSE Russell for the *FTSE Frontier Index Series, effective Sept 21, 2026* 👇 *🏢 LARGE-CAP: 10 Stocks* _Sector bellwethers, highest weight in the index_ 1. *ARADEL* - Aradel Holdings Plc 2. *DANGCEM* - Dangote Cement Plc 3. *FIRSTHOLDCO* - FBN Holdings Plc 4. *GTCO* - Guaranty Trust Holding Company Plc 5. *MTNN* - MTN Nigeria Communications Plc 6. *NESTLE* - Nestlé Nigeria Plc 7. *NB* - Nigerian Breweries Plc 8. *PRESCO* - Presco Plc 9. *STANBIC* - Stanbic IBTC Holdings Plc 10. *ZENITHBANK* - Zenith Bank Plc *🏛️ MID-CAP: 10 Stocks* _Key commercial banks + major manufacturing_ 1. *ACCESS* - Access Holdings Plc 2. *DANGSUGAR* - Dangote Sugar Refinery Plc 3. *FCMB* - FCMB Group Plc 4. *FIDELITYBK* - Fidelity Bank Plc 5. *GUINNESS* - Guinness Nigeria Plc 6. *OANDO* - Oando Plc 7. *OKOMUOIL* - Okomu Oil Palm Plc 8. *UNILEVER* - Unilever Nigeria Plc 9. *UBA* - United Bank for Africa Plc 10. *WEMA* - Wema Bank Plc *🪵 SMALL-CAP: 11 Stocks* _Liquid infra, logistics, insurance + specialized manufacturing_ 1. *CUSTODIAN* - Custodian & Allied Insurance Plc 2. *FIDSON* - Fidson Healthcare Plc 3. *JBERGER* - Julius Berger Nigeria Plc 4. *NASCON* - National Salt Company of Nigeria Plc 5. *NAHCO* - Nigerian Aviation Handling Company Plc 6. *NGXGROUP* - Nigerian Exchange Group Plc 7. *STERLINGNG* - Sterling Financial Holdings Company 8. *TRANSCORP* - Transnational Corporation Plc 9. *UACN* - UAC of Nigeria Plc 10. *UNITEDCAP* - United Capital Plc 11. *VITAFOAM* - Vitafoam Nigeria Plc *Why this matters* 1. *Coverage*: Banks = 9 of 31, Consumer = 6, Oil/Gas/Agri = 4. FTSE got good sector spread 2. *Index flows*: From Sept 21, passive funds tracking FTSE Frontier will need exposure to all 31 3. *Timing*: Lands right after Dangote Refinery IPO + with reserves at $53.11bn and Nigeria back on global radar The large-caps alone were ~N67.14trn as of Sept 3, so these 31 will drive most of the FPI inflows. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 4:52pm On Sep 04 |
FUGAZ Banks Today 4th September: Accesscorp Bank: -0.17% FirstHoldCo Bank: +0.00% GTCO Bank: +0.00% UBA Bank: -0.33% Zenith Bank: +0.86% 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 1:59pm On Sep 04 |
londonerr:No no no |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 1:54pm On Sep 04 |
There is no worse type of Wickedness than Someone who finds it very difficult to talk to you, but finds it very easy to talk about you. 2 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:41am On Sep 04 |
International Energy Insurance Plc heading to Full Bid... |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:37am On Sep 04 |
Seplat not yet on Full Bid... |
| Family › Re: I Need Help And Suggestions In Dealing With A Noisy Neighbour by essentialone(m): 8:07am On Sep 04 |
Let me guess: That your noisy neighbour must surely be a Yoruba. |
| Romance › Re: Easiest Way To Stop Porn And Masturbation (Personal Experience) by essentialone(m): 6:13am On Sep 04 |
Cum4me:"You better masturbate then to run after kids and any Olosho you see. Masturbation calm your urge to disgrace yourself." Very true 7 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 5:43am On Sep 04 |
londonerr:Wahala AI 2 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 11:18pm On Sep 03 |
*Cutix Plc is in "turnaround mode" right now* — auditor out, profits back, new products, but stock still nervous. Here’s the full picture: *1. Corporate Updates* *External Auditors Resign* - *Who*: Ngozi Monica Okonkwo & Co - *Effective*: 28 Aug 2026, after the 43rd AGM - *Reason*: "Strategic review of audit portfolio" after completing FY ended 30 April 2026 audit - *Next*: Board has started process to appoint replacement. Will file with NGX once done. *2. Financials — The Big Turnaround* *Q1 2027 Interim Report* released 31 Aug 2026: - *Revenue*: ₦3.70B, *+5% YoY* vs ₦3.52B in Q1 2025 - *PBT*: ₦88.36M, *+199% swing* from ₦89.42M loss in Q1 2025 - *PAT*: ₦58.31M, *+155% swing* from ₦105.84M loss in Q1 2025 *Driver*: Management says "rigorous cost-optimisation framework" to rebuild margins. So they didn’t need revenue to explode — they cut costs and protected profit. That’s classic for a cables manufacturer dealing with copper + FX pressure. *3. Leadership & Strategy* Still under *Acting CEO Uchechukwu Igbokwe* after the executive shake-up earlier this year. *New bets*: 1. *Solar energy market* entry 2. *Fire-resistant cables* launch Both are higher-margin, infrastructure-driven products. Makes sense given Nigeria’s power deficit + building codes. *4. Market Reaction* *Stock*: ₦2.37 as of late Aug 2026 *52-week low*: ₦2.28 Investors are cautious despite the profit rebound. Why? 2 reasons: 1. *Management + Auditor change in same year* = uncertainty 2. *Turnaround is early* — only 1 quarter of profit *Reading between the lines* This is the classic "penny stock recovery setup": 1. *Catalyst 1*: Costs cut → profits return 2. *Catalyst 2*: New products → growth story for solar/fire cables 3. *Overhang*: Governance — new auditor + acting CEO. Market wants stability before re-rating. If the new auditor is a reputable firm and they confirm FY 2026 books are clean, that ₦2.37 could look cheap given PAT is already positive again. 3 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 9:10pm On Sep 03 |
About 5.2 Billion Naira worth of UBA Bank Plc shares was Sold off today. Who by? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 8:49pm On Sep 03 |
Penny Insurance Rally warming up, with Regalins, Lasaco, and Wapic, likely to spearhead the Rally. Watch them closely... |
| Crime › Re: What Would You Do If You Come Across These Items by essentialone(m): 7:41pm On Sep 03 |
Marvieduke:https://www.nairaland.com/7160927/see-inside-bush-which-one |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 7:12pm On Sep 03 |
FUGAZ Banks Today 3rd September: FirstHoldCo Bank: +0.03% UBA Bank: -1.08% GTCO Bank: -0.23% Accesscorp Bank: -2.44% Zenith Bank: +0.31% 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 5:39pm On Sep 03 |
Raider76:*Not being in the FTSE 10 won’t end Seplat’s bull run.* But it does change the *type* of buyers coming in. *1. Why Seplat was left out* FTSE Frontier Index has strict rules. Biggest 3 filters: 1. *Free float*: FTSE wants min 15% free float. Seplat’s float is tiny because of the NNPC + founder holdings. A lot is locked up. 2. *Liquidity*: Needs consistent USD volume on both NGX + LSE. Seplat trades thinly on NGX compared to Zenith/GTCO/MTN. 3. *Index size limits*: Only 10 names made it this first round. Banks + Telco + Big Consumer got priority because they’re more "indexable" for ETFs. It’s not a verdict on Seplat’s business. It’s a verdict on Seplat’s *indexability*. *2. Will this kill the bull run?* Probably not. Here’s why: *Oil price + Production*: Not FTSE Dependent. If oil stays $75+ and Seplat hits 50k bpd, earnings drive it *Dividend yield*: Not FTSE Dependent. Seplat pays ∼10-12% dividend. Income funds love that regardless of index *M&A / Asset acquisition*: Not FTSE Dependent. Mobil Producing Nigeria deal is still the big catalyst *LSE listing + Foreign funds*: Partially FTSE Dependent. But most Seplat FPI already comes via LSE, not NGX *Passive ETF flows*: FTSE Dependent. Seplat misses out on the forced Sept 21 buying Seplat’s rally in 2024-2026 has been driven by oil, dividends, and the MPN acquisition story. None of that disappears on Sept 21. *3. What changes instead* 1. *No forced ETF buying*: The 10 names on FTSE will get automatic inflows. Seplat won’t. Short term, that means less "easy" bid in September. 2. *Rotation risk*: Some FPI that was waiting for Nigeria’s return might buy the FTSE 10 first, then look at Seplat later. Could cause 2-4 weeks of relative underperformance vs Zenith/MTN. 3. *It becomes a "stock picker" name*: Instead of index money, you need active funds who like energy + dividends. That’s actually who’s been driving it already. Seplat can run on fundamentals first, get added to FTSE later when free float improves. *Bottom Line:* FTSE inclusion = rocket fuel for liquidity. FTSE exclusion ≠ death sentence for fundamentals. If oil holds and Seplat closes MPN, the bull case stays intact. It just won’t get the Sept 21 passive bump that GTCO or Dangote Cement will. The real risk to Seplat’s bull run is $60 oil or the MPN deal falling through. Not FTSE. 6 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 2:00pm On Sep 03 |
Yemy3m:Check and tell us. |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 1:13pm On Sep 03*. Modified: 5:42pm On Sep 03 |
*NASCON Allied Industries Plc - Dangote Salt is cooking 🔥* That H1 2026 result is wild. NASCON turned 3.8% revenue growth into 25%+ profit growth. That’s efficiency. *1. 📈 H1 2026 Results - "Small Revenue, Big Profit"* - *Revenue*: ₦81.16B → *+3.84% YoY*. Modest - *PBT*: ₦29.70B → *+27.6% YoY* - *PAT*: ₦19.60B → *+25.7% YoY* from ₦15.60B in H1 2025 - *EPS*: *₦7.26* vs ₦11.54 in H1 2025 - *Gross Margin*: *>50%* - thanks to cost control + lower raw material costs They made more money by spending less, not just selling more. *2. 💰 The Cash Machine* This is the real story. - *Finance Income*: *₦5.35B* → *+126% YoY*. All from interest on cash - *Cash & Equivalents*: *₦46.05B* sitting in the bank as of June 2026 - *Debt*: Still minimal - *Dividends Paid*: *₦16.21B* paid out earlier in 2026 and they still have ₦46B left NASCON is basically a salt company + treasury bill fund. With interest rates high, that ₦46B is printing money. *3. 🚀 NGX 30 Index Admission* Big capital markets move. NASCON is now one of the *30 most capitalized + liquid stocks* on NGX. *What it means*: 1. *Forced buying* from ETF/index funds that track NGX 30 2. *More FPI attention* - foreign portfolio managers now must consider it 3. *Liquidity boost* - tighter spreads, higher volumes *4. 📊 Stock Price Reaction* Market already priced it in. - *YTD Peak*: ~₦202/share - *Current Range*: *₦175.50 - ₦195.00* - Driver: Strong H1 print + index inclusion + dividend track record *Bottom Line: Why NASCON is Different* Most consumer goods firms are struggling with FX and input costs. NASCON did the opposite: *Typical FMCG*: Revenue Growth is Low single digit. Margin is Compressed. Balance Sheet has High debt/FX losses. Other Income is Small. *NASCON H1 2026*: Revenue Growth is 3.84%. Margin is >50% Gross. Balance Sheet is ₦46B Cash, Low debt. Other Income is ₦5.35B Interest Income. With Dangote Group backing, salt + seasoning + tomato paste as core products, and now index fund money flowing in... this is why it’s trading like a bank stock but with FMCG margins. At ₦7.26 EPS for just 6 months, full year could push ₦14-₦15. 1 Like |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 11:16am On Sep 03 |
Watch Lasaco and Regency Alliance closely. Both looking set for a Rally... |
| Nairaland General › Re: If you see this inside bush, which one are you going to pick? by essentialone(op): 11:12am On Sep 03 |
If you see this inside bush, which one are you going to pick? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 8:54am On Sep 03 |
Asangbekoko:It seems Seplat was on Full Bid yesterday? |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 8:51am On Sep 03 |
With Tony Elumelu now as Chairman of Seplat, expect Seplat to start paying Elumelu-kobo-kobo style of Dividend... 3 Likes |
| Investment › Re: Nigerian Stock Exchange Market Pick Alerts by essentialone(m): 8:45am On Sep 03 |
SmartInsure:Lasaco Assurance Plc, getting set for a price rally? |
