₦airaland Forum

What concerns us with what happens to the Prostitute? Please, don't disturb us again.

Ok

yMcy56:
BEWARE OF THIS FRAUDULENT INVESTMENT SCHEME!

*Warning from MAY & BAKER

https://doclib.ngxgroup.com/Financial_NewsDocs/47821_MAY_AND_BAKER-PUBLIC_NOTICE_OF_FRAUDULENT_INVESTMENT_SCHEME_CORPORATE_ACTIONS_AUGUST_2026.pdf

May and Baker Plc, heading to Full Bid...

https://doclib.ngxgroup.com/Financial_NewsDocs/47470_LASACO_ASSURANCE_PLC.-_NOTICES_OF_ANNUAL_GENERAL_MEETING_(AGM)_-__ANNUAL_GENERAL_MEETING_(AGM)_JULY_2026.pdf

*Shareholders to Insurers: "No more kobo-kobo dividends"*.

This came right after the insurance recapitalisation deadline. 50 insurance + reinsurance companies met the new capital requirements.

*The New Minimum Capital Requirements*
NAICOM set these:
- *Life insurers*: ₦10 billion
- *Non-life insurers*: ₦15 billion
- *Composite insurers*: ₦25 billion
- *Reinsurers*: ₦35 billion

*What Shareholders Are Demanding Now*
Two major shareholder groups spoke out:

*1. ISAN - Moses Igbrude*
*Main demands:*
1. *Higher penetration* - From current ∼1% to "significant improvement" in 3-5 years
2. *Real dividends* - "The era of kobo-kobo dividends should go"
3. *Better returns* - Stronger capital should mean stronger business + profits
4. *Tighter NAICOM supervision* - "More money and more volume of business mean that there should be more supervision"
5. *Better corporate governance* - Run business "according to the ethics of the industry"

His logic: _If they do more business and increase penetration, there will be more money in their kitty, leading to better profitability and returns._

*2. PSAN - Boniface Okezie*
*Main demands:*
1. *Shareholder protection* - To restore confidence and attract more capital
2. *End trapped funds* - Some investors have money in companies that stopped operating
3. *Better performance metrics* - Recapitalisation should mean: improved business, higher dividends, stronger share prices

He noted some shareholders invested in past recapitalisations and still haven’t gotten dividends.

*Why this matters now*
This is exactly "increase earning capacity". The sector got a capital injection, but shareholders are saying: _don’t just sit on the money_.

With Nigeria’s insurance penetration stuck at ∼1%, there’s huge room to grow. But that means new products, reaching informal markets, and actually paying people when claims happen.

IEI’s award for "operational turnaround and risk management" fits right into this. NAICOM and shareholders now want proof that bigger balance sheets = better governance + better payouts.

*The big test for the next 12-18 months*: Will we see insurance companies use the new ₦10bn-₦35bn capital to underwrite more, or will it just sit as "stronger protection" on paper?

*IEI Plc wins at the 2026 Nigerian Risk Awards*
*Category*: Pension and Insurance
*Winner*: *International Energy Insurance Plc*

*Why they won*
The award specifically cited:
1. *Operational turnaround* - IEI has been restructuring over the last couple of years
2. *Risk management framework* - New controls, underwriting discipline, and governance put in place
3. *Leadership*: Under *Bashir Haliru Binji* - MD/CEO
4. *Parent partner*: *Norrenberger* - the financial services group that acquired/partners with IEI.

*What this means*
The Nigerian Risk Awards recognize companies that show strong risk culture, not just profits. For an insurer, especially one doing high-risk energy assets, that’s huge.

With offshore rigs, pipelines, and power projects, one bad claim can wipe out years of profit. So a solid risk framework = more confidence from oil majors, regulators, and NAICOM.

And under Binji + Norrenberger, IEI seems to be shifting from just "energy insurer" to a more stable, well-governed player.

This lines up with the broader push for Nigerian insurers to retain more local content in oil & gas, instead of ceding everything abroad.

*GCR upgrades FCMB Group rating, affirms stable outlook*.

*The Rating Upgrade*
Global Credit Ratings *GCR* upgraded FCMB Group Plc:

1. *Long-term issuer rating*: *A-(NG)* — upgraded from BBB+(NG)
2. *Short-term issuer rating*: *A2(NG)* — affirmed
3. *Bonds*: Series 1 ₦20.7bn + Series 2 ₦26bn AT1 Subordinated Bonds upgraded to *BBB(NG)* from BBB-(NG)
4. *Outlook*: *Stable* across the board

*Why GCR upgraded FCMB*
GCR said it’s because of *improved fundamentals at First City Monument Bank Ltd*, the core operating entity:
- *Better capital adequacy* - due to fresh capital injection + good internal earnings
- *Strong competitive position*
- *Adequate funding and liquidity*

*Key numbers:*
- *CET1 ratio*: Jumped from *14.3% as at Dec 31, 2025* → *22.3% as at Mar 31, 2026* after capital infusions
- *GCR expects CET1* to stay between *19% - 22%* over next 12-18 months
- *Loan book*: GCR expects conservative growth + continued clean-up to help asset quality
- *Funding*: Expected to remain stable due to good deposit mobilisation

*About the Bonds*
The Series 1 & 2 are *Additional Tier 1 Subordinated Bonds* under FCMB’s ₦300bn Debt Issuance Programme.
- Raised in 2023 at *16% fixed coupon*, no maturity date
- They count as AT1 capital under CBN rules
- Coupons have been paid on time, no covenant breaches

GCR applied a 3-notch discount vs senior debt because AT1 bonds can defer interest and can be written down if CET1 drops to 10.75% or regulator declares "point of non-viability".

*Group Structure Note*
FCMB Group is a holding company with 7 direct + 3 indirect subsidiaries as at Dec 2025. Banking, consumer finance, investment management, investment banking.
GCR rated the Group 1 notch below the Bank due to "structural subordination" — the holding company depends on dividends from the bank.

*What this means*
An A-(NG) rating = stronger credit profile. It signals to investors and depositors that FCMB’s balance sheet is healthier post-capital raise. With a stable outlook, GCR expects the bank to stay solid despite macro headwinds like fuel price hikes and inflation.

stoicgod:
Go watch Beeron's last stock analysis video on YouTube, he explained Aradel so simple that you will understand not to buy now. You can join his Telegram to ask him about your other stock.

And this is your very first comment on Nairaland. Perhaps, you are a new NL Account.

Men really want Peace and sexual satisfaction. No matter how beautiful a wife is, if a man lacks those 2 things, he will look outside. Read again slowly, from the beginning.

When a lady does not like a guy, she pretends to be a Virgin, a Saint, and a Martyr. Now read that again, from the beginning...

Ladies are pretenders. Same ladies who claim they don't date married men, will do so if he has money.

*Sterling Bank wants to raise N30B via bonds — gets BBB+(NG) indicative rating* 💼

*What’s happening*
Sterling Bank is going to the debt market through its SPV: *Sterling Investment Management SPV Plc*.

*The Bond Details:*
- *Issuer*: Sterling Investment Management SPV Plc
- *Amount*: Up to *N30 billion* Series 1 Senior Unsecured Fixed Rate Bond
- *Tenor*: *7 years* - matures in 2033
- *Coupon*: Paid *semi-annually* in arrears
- *Repayment*: Bullet principal at maturity
- *Call option*: Sterling can redeem early after 24 months
- *Use of proceeds*: Passed through to Sterling Bank to finance "risk assets" - i.e. loans

This is the *first issuance* under a larger *N250 billion Bond Issuance Programme*.

*The Rating*
*GCR Ratings* gave it: *BBB+(NG)(IR) - Stable Outlook*
- "National scale long-term indicative Issue rating"
- "IR" means Indicative Rating — final rating comes when the bond is actually issued
- This rating is *equal to Sterling Bank’s own issuer rating* of BBB+(NG) upgraded in Sept 2025.

*Why it’s equal*: Sterling Bank is the "ultimate obligor". The SPV just raises the money and passes it to the bank. So if Sterling Bank defaults, bondholders get hit. The bond ranks _pari passu_ with all other senior unsecured debt of the bank.

*What BBB+(NG) means*
On GCR’s national scale, BBB+ is "adequate credit quality". Low to moderate default risk in the Nigerian context. Stable outlook means GCR doesn’t expect a downgrade soon.

*Rating sensitivity*:
- *Upgrade* if Sterling Bank’s rating goes up
- *Downgrade* if Sterling Bank is downgraded or if they break bond covenants

*Context in Aug 2026*
This is happening while:
1. *Banks are flush with capital* - after the N3.37T recapitalisation
2. *Investors are chasing bank paper* - Zenith, GTCO, Access dominated N14.3B of NGX trading on Aug 28
3. *Sterling Bank* itself was also among the most actively traded with 37.21M shares worth N282.95M on Aug 28.

Banks are now tapping both equity AND debt to grow loan books now that they have bigger capital bases.

*Key takeaway*
Sterling is basically saying: "We have N250B bond program approval. Let’s start with N30B to lend out."
For investors: 7-year fixed rate, semi-annual coupons, backed by Sterling Bank’s balance sheet. Risk = Sterling Bank’s credit risk.

Together as a Group o, Team A, or Team B, which Team go wicked pass for movie? 🤔

Oasisblue:
BUA Food and UNILEVER losing full 10%. This market isnt nice at all these days. Is it because politicians are pulling out money to run elections?

What is the present situation of Bua Foods Plc and Unilever Plc?

These are not Nigerian women, but Nigerian prostitutes.

yMcy56:
Anyone with FIRSTHOLDCO should just hold it....because, if the race for banking begins, Otedola will make sure First Bank is leading.....😁

* It's even remaining STANBIC to clear out of the road self....😊

Abeg DD o

Ok thanks for this.

narite:
LOL...With Lapo money.

😆

jonnysessy:
Thank you so much. I will work on this.

Is signature mandate card the same as bankers confirmation ? That is the only requirement not very clear.

No, they are not exactly the same. But registrars sometimes accept one in place of the other.

1. Signature Mandate Card
This is the card your bank gave you when you first opened your Domiciliary account.
It has: Your specimen signature, account name, account number, and the bank’s stamp.
Purpose: To prove to the registrar that you are the real owner of that Domiciliary bank account and that the signature on your letter matches the bank’s record.

2. Banker’s Confirmation Letter
This is a letter your bank writes afresh for you, based on your request.
It has: Your account name, account number, account type, branch, and confirmation that the account is active and in good standing. Signed + stamped by the bank.
Purpose: To confirm the bank account details you gave the registrar are correct and active.

What Greenwich Registrars usually want for USD Dividend Mandate:

- Domiciliary Account Details - Name, Number, Bank, SWIFT
- Letter of Instruction - signed by you
- Means of ID - NIN/Int'l Passport/Driver's License
- Proof of Account Ownership - This is where it gets confusing. Most registrars will accept either:

Option A: Copy of Signature Mandate Card + Bank Statement.

Option B: Banker’s Confirmation Letter on bank letterhead

The Banker’s Confirmation is safer and more accepted because it’s current and on letterhead. Signature Mandate Cards are old and many people don’t have them anymore. I am guessing you may not even still have yours. Na joke o.

My advice for you:

Call or email Greenwich Registrars first and ask:

"For USD dividend payment mandate, do you accept a Banker's Confirmation Letter, in place of Signature Mandate Card?"

9 out of 10 times they’ll say yes. Then scan that letter + other docs to them.

jonnysessy:
Seplat interim dividend Q2

Seplat dividend No 39 & 40 just landed. I have been monitoring this company for a while, they pay dividend very early in the morning of the payment date.

Will have to contact the Registrars to see how i can be receiving it in dollars instead of the Naira eqivalent.

Here’s what you’ll likely need to do:

1. Domiciliary Account: You need a USD domiciliary account with your bank.
2. Contact the Registrar: Greenwich Registrars. Send them:
- Your CSCS number
- Bank name + USD Domiciliary account details + SWIFT code
- Letter of instruction + ID + Signature mandate card
3. Indicate "USD Payment Mandate": Tell them to pay all future dividends in USD directly to your domiciliary account instead of converting to Naira.

Note: There may be wire/transfer fees, and it might take 1-2 dividend cycles to reflect.

Why do this?
With naira volatility, getting USD directly protects value. Especially if you’re a long-term holder like you said you’ve been monitoring them.

ppogba:
Hand of Esau; voice of Jacob.

Iykyk.

You spotted it correctly.

Today's opening Trade.

Will International Energy Insurance Plc likely drop down to N2.56, or will it swing back up to N3.12 ?

When a lady does not like a guy, she pretends to be a Virgin, a Saint, and a Martyr. Now read that again, from the beginning...

When a lady does not like a guy, she pretends to be a Virgin, a Saint, and a Martyr. Now read that again, from the beginning...

ppogba:
Though copied, Mr essentialone , I want to believe you should know better.

Can you just point to any of the FUGAZ that has posted or come out with it's results? How many of them has not sought for extension?

Like I said, you should know better and not be copying nonsense that anyone posts anywhere out of ignorance.

Just showing you how some people view some things. In a place of Doubt and lack of knowledge, the mind often only thinks of the possible worst.

Agbalowomeri:
E be like this writer bought GT @150

Agba is wuuuucked. Hahahhahahahha

Ladies are pretenders. Same ladies who claim they don't date married men, will do so if he has money.

When a lady does not like a guy, she pretends to be a Virgin, a Saint, and a Martyr. Now read that again, from the beginning...

When a lady does not like a guy, she pretends to be a Virgin, a Saint, and a Martyr. Now read that again, from the beginning...

But most ladies do that these days and get away with it, because men are not as wicked as ladies are.