₦airaland Forum

This video circulating is a clear case of ethnic prejudice and political hate speech from someone in uniform.

What the officer is saying in summary:

- That Peter Obi, because he is Igbo, should never be allowed to be President, regardless of votes.
- That Igbo votes are "useless", that Obi should be pushed to 5th position, and that power should remain with older candidates like Atiku and Tinubu.
- He uses abusive language, insults, and stereotypes - calling Obi a small boy, criminal, fraudster, and saying Aso Rock will become a Yahoo office.
- He claims it's a "tradition" that an Igbo person cannot be President or even Vice President.

*Why this is serious:*

1. *As a Police Officer:* The Nigeria Police is supposed to be non-partisan and to protect all Nigerians regardless of ethnicity. This statement violates the Police Code of Conduct, the Electoral Act on partisan conduct by security agencies, and Section 42 of the 1999 Constitution on freedom from discrimination.

2. *Ethnic incitement:* Saying "Igbo man can never be President" is direct ethnic discrimination and can fuel inter-ethnic tension.

3. *If verified, it would be grounds for disciplinary action:* The Force Headquarters has dismissed and sanctioned officers before for similar partisan viral videos.

Petrol price has dropped slightly at the depot - here's the summary:

*Why:* Brent crude fell below $100 (now $99.77), WTI dropped to $91.17. Last week Brent was $109.

*Lagos depot cuts:*
- Dangote Refinery: N1,350 → *N1,325* (-N25)
- Ascon, Integrated, Pinnacle, Sahara: -N24 to *N1,326 - N1,327*
- MRS: -N20 to *N1,332*
- Wosbab: *N1,330*

*Other locations:*
- *Port Harcourt:* Masters N1,328 (-N2), Stockgap N1,323 (-N7)
- *Calabar:* Mainland lowest at N1,320 (-N7), Alkanes N1,325
- *Warri:* Mostly small cuts to ~N1,327 - N1,329. Matrix & Optima increased slightly to N1,330/N1,328

*Diesel (AGO) also dropped:*
- Lagos: Chipet N1,815 (-N15), others around N1,815 - N1,860
- PH: Masters N1,900 (-N35)
- Warri: Matrix N2,000 (-N50)

*For you at the pump:* The depot price drop hasn't reached the pump yet. Retail is still *N1,370 - N1,450* depending on location and transportation. It should drop slightly if crude stays low and FX remains stable.

This is the wholesale price — what marketers buy at the depot, not what you will buy at the filling station.

CBN cut *MPR to 23.00%* and *SDF to 20.00%*. That sets a new floor for interest rates.

*Translation:* Money will become cheaper to borrow, but yield on T-Bills/OMO will start to drop from ∼23-24% to *20% - 21% range*.

2. IMPACT ON FIXED INCOME — Yield Compression

- *Short end leads the fall:* NTB and OMO bills will reprice first.
- *Real yield for Foreign Investors:* Still attractive at ∼7% (down from 10%). With Naira relatively stable, FPIs will stay — that N3.03trn OMO subscription on Sept 16 proves it.
- *What next:*
- Smart investors will *lock in current high yields* now before they fall further
- Govt and companies will rush to issue *Commercial Papers and Bonds* because borrowing is cheaper
- Liquidity and how much CBN mops up will decide how fast the whole curve falls

*Bottom line for Fixed Income:* Buy now and hold. Yields are going down.

3. IMPACT ON EQUITIES — Bullish

- *For companies:* Lower interest = lower loan cost = higher profit margin = more money to expand.
- *For valuation:* Lower discount rate means future profits are worth more today. Strong companies will get re-rated higher.
- *For investors:* When T-Bill drops to 20%, that 25-30% return some people want from stocks starts to look more attractive vs fixed income. Not a massive switch, but incremental money will flow to equities.

Plus two extra tailwinds you mentioned:
1. *Dangote Refinery IPO* — pulling retail investors back to market
2. *FTSE Russell reclassification* — pulling foreign investors back

*Bottom line for Equities:* Supportive environment for the rally to continue till year-end. Focus on fundamentally strong, leveraged companies (banks, industrials, consumer goods) — they benefit most from rate cuts.

*In one sentence:*
> Fixed Income yields are peaking and will compress, Equities becomes more attractive — this is the start of a rotation, not the end.

*BREAKING: CBN CUTS RATE BIG TIME — First cut in a long while*

At its 307th Meeting (Sept 21-22, 2026), the MPC surprised the market:

*The Decisions:*
- *MPR CUT by 350bps:* From *26.50% to 23.00%* — much bigger than expected (market expected HOLD)
- *Asymmetric Corridor:* Adjusted to *+50bps / -300bps* around MPR (was +50/-450) — to make policy transmit better to market rates
- *CRR Retained:* 45% for Deposit Money Banks, 16% for Merchant Banks, 75% for Non-TSA public sector
- *Liquidity Ratio Retained:* 30%

*Why they cut:*
- Inflation improving: Headline *15.39% in August* (down from 15.43% in July) — 3rd consecutive monthly drop. 12-month average down to 16.30% — 20th consecutive month of decline
- Food inflation eased, transport & healthcare costs down — core inflation down
- Exchange rate stable, external reserves stronger, investor confidence up
- Balance of Payment surplus: *$3.51bn in Q2 2026* (up from $2.38bn in Q1)
- Current Account surplus: *$7.54bn* (up from $4.49bn)
- Bank recapitalisation giving banks capacity to lend long-term

*What it means for YOU:*

- *Bonds / T-Bills:* Yields will fall. Demand for existing high-yield bonds will rise — bond prices up, yields down. If you hold bonds, good news. If you want to buy T-Bills, lock in now before yields crash further.
- *Stocks:* VERY POSITIVE. Lower MPR = lower borrowing costs = higher company profits = higher valuations. Expect rotation from fixed income to equities. Yesterday's +0.18% and volume jump (+45%) was before this news — today/tomorrow should be even more bullish, especially banks.

In short: CBN just turned dovish. Money is getting cheaper. This is fuel for the NGX rally that is already +60% YTD.

This matches why banks dominated trading yesterday — they knew recapitalisation + rate cut was coming.

Guinea Insurance Plc
Regency Alliance Insurance Plc
Lasaco Assurance Plc


Among top gainers so far today.


Increasing interest flooding gradually into the Insurance sector?

Tinubu would have loved to be there, but he is scared that folks from Chicago may be close by.

How does it concern us what 2 prostitutes choose to do with their lives?

Agbalowomeri:
Is Oando not list on Johannesburg stock exchange? Which dual listing again

We are talking about Intercontinental Listing and not Continental Listing.

*OANDO - Big move coming:*

At their *47th AGM on Sept 17, 2026*, Oando shareholders gave the board full approval to chase growth, including *cross-border listings*.

Key resolutions passed:

1. *Re-elected Directors:* Ademola Akinrele (SAN) - Chairman, Omamofe Boyo, Ikeme Osakwe, Adeola Ogunsemi.
2. *Auditors:* BDO Professional Services re-appointed.
3. *Updated MEMART:* Now allows physical, electronic or hybrid AGMs, plus new clauses for *digital assets, crypto, distributed ledger & emerging tech*.
4. *Main News - Cross-border Listing:* Board authorized to *pursue listings on other stock exchanges outside Nigeria*, subject to regulatory approvals. Similar to what Dangote Refinery is targeting (NYSE by 2029).

Shareholder Mrs Bisi Bakare praised the shift from broad mining exploration to disciplined asset prioritisation.

CEO Wale Tinubu said: _"Operational control gives us execution capacity and creates value... we will allocate capital responsibly, report on time, meet our guidance."_

This means Oando could soon dual-list — like Seplat — to attract foreign capital and improve valuation. Usually positive for long-term price.

With this news + oil price movements, keep an eye on it this week.

Yesterday was a *very bullish day* — here is the breakdown for *Tuesday 22nd Sept, 2026:*

*1. MARKET OVERVIEW*
The market closed green across board:
- *All Share Index:* 250,614.66 (+0.18% today, +60.14% YTD)
- *Market Cap:* ₦162.68 Trillion (+0.18% today, +62.78% YTD)
- *Volume:* 837.26 million (+45.82% jump from yesterday)
- *Value:* ₦48.57 billion (+27.60% jump) — shows big money moved yesterday.

The market is up over 60% since January. Very strong year.

*2. TOP TRADES (Action Stocks)*
Most active by Volume + Value:

- *ZENITHBANK* - 105.6m volume, ₦13.7bn value — #1 by value yesterday
- *FIDELITYBK* - 165.4m volume (Highest volume), ₦3.29bn value
- *CHAMS* - 71.8m volume, ₦240m value
- *ACCESSCORP* - 62.4m volume, ₦1.85bn value
- *MTNN* - 4.6m volume but massive ₦4.02bn value
- *GTCO* - 45.9m volume, ₦6.2bn value

Banking stocks dominated trading completely.

*3. TOP GAINERS*
- *SOVRENINS:* ₦2.01 to ₦2.21 (+9.95%)
- *CMFC:* +9.82%
- *NEIMETH:* +8.90%
- *CADBURY:* ₦55.50 to ₦60.10 (+8.29%)
- *STANBIC* had biggest naira gain: +₦10.85 to close ₦163.85 (+7.09%)

*4. TOP LOSERS*
- *MULTIVERSE:* ₦21.30 to ₦19.20 (-9.86%) - biggest drop
- *HMCALL:* -9.39%
- *CHAMPION:* -8.68%
- *LOTUSHAL15:* ₦138.50 to ₦131.50 (-₦7.00)

*What it means:*
Banks are driving the market — Fidelity, Zenith, AccessCorp, GTCO, UBA, SterlingNG were all top by volume. Investors are buying heavily, volume up 45% shows strong confidence. If you hold banking stocks or SOVRENINS/NEIMETH/CADBURY, you had a good day yesterday.

This is a big positive news for *Mutual Benefits Assurance (MBENEFIT)* - even though it was on the Top Losers list of yesterday (-8.38%).

Here is the summary:

*The Upgrade:*
*Agusto & Co. upgraded Mutual Benefits Assurance Plc from 'Bbb+' to 'A-'* with Stable Outlook on 24th August 2026. Valid till 30th June 2027.
- Long-term rating: *A-*
- Short-term rating: *A1*

It means Agusto says the company has strong capacity to meet its obligations vs other Nigerian insurers.

*Why they upgraded:*

1. *Capital is now very strong:* Shareholders' funds grew 41.8% to *₦33.9bn* (Dec 2025), driven by better profitability. Net admissible assets ₦30.3bn - double the ₦15bn new minimum under NIIRA 2025.
2. *Solvency:* *512%* - way above Agusto's 100% benchmark.
3. *Investments:* Portfolio grew 30.5% to *₦51.4bn*, 68.2% is liquid - so they can pay claims easily.
4. *Underwriting improved:* Gross Written Premium up *26.7% to ₦52.7bn* - motor insurance is 34.4% of business. Net claims dropped 6.3%, loss ratio improved to *23%* vs industry average 27.4%.

*MD/CEO Femi Asenuga said:* It's a milestone that proves financial resilience and disciplined execution, and should boost confidence for policyholders, brokers and shareholders.

*Outlook:* Agusto expects profitability to improve further as underwriting strengthens and currency volatility reduces.

Company is also projecting *₦96.82bn GWP for next year, with General Business driving 72%* of it.

Bottom line: Fundamentally the company got stronger, but market price dropped yesterday. That kind of rating upgrade usually brings investor interest in the coming days.

Ok

For NGX, this 350bps cut from 26.5% to 23% is *net bullish* — but not for everyone equally.

*Why it's bullish for stocks:*

1. *Money rotates out of fixed income* — T-Bill 1yr was already down to 16.62% before MPC. With MPR at 23%, yields will drop further. The risk-free return investors were enjoying at 20%+ is fading. Funds will start chasing equities for returns.

2. *Lower cost of capital* — Companies borrowing at 30-35% can start refinancing cheaper. High-leverage sectors like Industrials (Dangote Cement, BUA), Conglomerates, and Telecoms breathe easier. Earnings forecasts go up.

3. *Valuation uplift* — When you discount future profits at a lower rate, fair value goes up. Growth stocks get re-rated first.

*Who wins most:*

- *Industrial / Manufacturing:* Dangote Cement, BUA Cement, Lafarge — big borrowers, big capex
- *Consumer Goods:* Nigerian Breweries, BUA Foods, Nestle — cheaper working capital, consumer demand should recover as lending rates fall
- *Tier-1 Growth / Tech-driven:* Airtel, MTN — lower discount rate = higher DCF value

*Who gets hit:*

- *Banks:* This is the catch. Banks made super profits from high MPR (+50/-300 corridor now). NIM will compress. Expect sell pressure on banking index in the short term, even if overall market goes up. But CRR was retained at 45%, so no extra relief there.

*What to expect this week:*

- Monday-Tuesday: Banking stocks red, Industrial & Consumer green
- ASI likely to push up — we already saw reserves at $55.2bn and inflation cooling to 15.39%, foreign inflows will improve
- Fixed income traders will rush to lock long-dated bonds before yields crash further

Bottom line: Short-term mixed, *medium-term very positive* for NGX. This is the pivot from tightening to easing.

BREAKING News — CBN just did a massive cut:

*MPR cut to 23.00% from 26.50% — 350bps drop*

- Decision at *307th MPC meeting*, Sept 21-22, 2026 in Abuja. Governor Olayemi Cardoso announced today
- This is the most aggressive cut in recent years, after holding at 26.5% in July.

*Why now:*

- August headline inflation down to *15.39%* from 15.43% in July, food to 19.57%
- Naira stable around *₦1,330/$*, external reserves over *$55.2bn* as of Sept 18 — highest in 18 years.

*Other decisions:*

- Standing facilities corridor recalibrated to *+50 / -300 bps* around MPR
- CRR retained: 45% for DMBs, 16% for merchant banks, 75% for non-TSA public sector deposits.

Cardoso said recalibration is not a change in stance, but an operational reset to make MPR actually drive market rates and support transition to inflation targeting.

megawealth01:
💯

Amoye how many times people dey forget even their own birthdays 😞

People who forget their Birthdays are men who do not attach much importance to it.

How many ladies actually forget their Birthdays? Go and verify... Some even do 1 month online Countdown for it...

Nobody forgets anything. People only claim to forget, what they never planned to do, in the first place.

STACO Insurance Plc was delisted along with investors 4.48 Billion Naira...

megawealth01:
LASACO have mercy on MEGAWEALTH01. I won't make that mistake again

Lasaco Assurance Plc's *2025 Financials:*

- *Claims paid:* ₦18.58bn in 2025 vs ₦8.08bn in 2024 — up 130%. They said it's prompt settlement, not losses.
- *Insurance revenue:* ₦30.86bn vs ₦22.82bn last year — up 35.2%
- *Total assets:* ₦39.24bn vs ₦31.26bn — up 25.5%
- *Shareholders' funds:* ₦20.36bn vs ₦12.26bn — up 66%
- *Total liabilities:* Slight drop to ₦18.88bn from ₦19bn

*Recapitalisation — NIIRA 2025:*

This is the big one for Lasaco.

- They did a rights issue *after* year-end 2025 and raised *₦19.3bn* vs target of ₦18.47bn — 104.5% subscription.
- Chairman Babatunde Dabiri said with that, Lasaco *exceeded NAICOM's new minimum* and was cleared as one of the recapitalised insurers before the *July 31, 2026 deadline*.
- NAICOM has now cleared 7 additional firms recently — Lasaco is among the survivors, unlike STACO, NICON, Goldlink etc. that just lost their licences.

MD Ademoye Shobo said focus now is tech, new products — they got NAICOM approval for new products last year, more in pipeline, plus strict capital monitoring.

In short: Lasaco paid a lot more claims but also grew revenue strongly, grew assets, cut liabilities slightly, and most importantly — it passed recapitalisation with extra cash to spare, so it can keep operating and bid for bigger portfolios.

GeneralDae:
As seen on the internet

*Access Bank Plc has redeemed the $500m Eurobond on maturity.*

Key points from the NGX filing signed by Sunday Ekwochi:

- *Issued:* September 2021, under its Global Medium-Term Note Programme
- *Tenor:* 5 years
- *Coupon:* 6.125% — paid semi-annually, all 10 coupons met on schedule. It was the lowest coupon ever for a Nigerian bank Eurobond at the time, with a $1.6bn orderbook (3x oversubscribed)
- *Redemption:* Full $500m principal paid at maturity.

What is significant is *how* they paid:

> Funded entirely from its own foreign currency liquidity — not refinanced with a new Eurobond.

Access says it was already built into their asset-liability management framework, so *no impact on operations or regulatory liquidity ratios*.

MD/CEO Roosevelt Ogbonna said it "reflects the strength of Access Bank's franchise and the discipline of our balance sheet management."

This was one of the big 2026 maturities for Nigerian banks — Nigerian banks have about $2.35bn in Eurobonds due between late 2025 and end of 2026. Access still has another $500m AT1 Eurobond (9.125% coupon) callable/maturing in Oct 2026, so that is the next one to watch.

The next Insurance stock that will soon be delisted is Universal Insurance Plc...

For now, African Alliance Insurance Plc is on Delisting Watch List, but may eventually still survive...

essentialone:
These 2 Insurance Companies that were getting set to return soon to the stock market, may never be allowed to do so again, as their Operating Licenses have now been revoked by NAICOM.

1. African Alliance Insurance Plc
2. STACO Insurance Plc

I said this here on 20th August. And exactly 1 month after, it has come to pass...

megawealth01:
NGX Delists STACO Insurance Plc After NAICOM Revokes Operating Licence

https://www.financialedge.com.ng/ngx-delists-staco-insurance-plc-after-naicom-revokes-operating-licence

Long overdue...

That man's video is everywhere right now — and that ₦5,332 is what is making people angry, but that number alone doesn't tell the full story.

*Why ₦5,332 can show up:*

If he bought in 2007/2008, that was Fidelity's big public offer era. Many people paid around ₦5 - ₦8 per share. Let's say he got ∼2,500 to 4,000 shares for ₦20,000.

The market crashed in 2008/2009. Fidelity Bank that was trading around ₦13.23 in January 2008 fell to below ₦1 at some point — it touched ₦0.76 in November 2016.

If he never checked CSCS, never updated his registrar, and never took up rights issues, what the bank statement shows him might be:

1. *Only the residual shares* after corporate actions he missed
2. *Only unclaimed dividend warrant* value that the registrar is holding, not the total portfolio value
3. He is looking at an old dividend account, not his actual share balance in CSCS.

Because today Fidelity is *₦19.10 as of Sept 21, 2026*, up from ₦1.68 in May 2019 to ₦10.20 in May 2024. So on price alone, that old investment should be worth more than 2008, not less.

If he had 3,000 shares and held till now, capital value alone would be about:
3,000 x ₦19.10 = *₦57,300* — before bonuses and dividends.

And Fidelity has actually been one of the best performing bank stocks — *507% gain in 5 years* from 2019-2024, beating the whole NGX All Share Index.

*What anyone in that situation should check:*

- *CSCS statement* — how many units do you really have? Not what a paper share certificate says.
- *Registrar (First Registrars & Investor Services)* — any bonus shares? Fidelity did several bonuses. Unclaimed dividends?
- *Did you pay for rights issues?* If you ignored rights, your percentage holding was diluted.
- *Dividends over 18 years* — Fidelity has paid dividends every year since listing in 2005. Those dividends, if you claimed and reinvested, change everything.

So would land have been better? If he bought land in 2008 in a good location for ₦20k — yes, land would have beaten shares by far in Naira terms. But if you compare shares to shares, Fidelity didn't wipe his ₦20k to ₦5k. That ₦5,332 is likely just one piece — probably one unclaimed dividend cheque — not his total investment value.

If you know someone in this position, tell them to go to their stockbroker with their CHN number and check CSCS, not just the old paper document.

That man's video is everywhere right now — and that ₦5,332 is what is making people angry, but that number alone doesn't tell the full story.

*Why ₦5,332 can show up:*

If he bought in 2007/2008, that was Fidelity's big public offer era. Many people paid around ₦5 - ₦8 per share. Let's say he got ∼2,500 to 4,000 shares for ₦20,000.

The market crashed in 2008/2009. Fidelity Bank that was trading around ₦13.23 in January 2008 fell to below ₦1 at some point — it touched ₦0.76 in November 2016.

If he never checked CSCS, never updated his registrar, and never took up rights issues, what the bank statement shows him might be:

1. *Only the residual shares* after corporate actions he missed
2. *Only unclaimed dividend warrant* value that the registrar is holding, not the total portfolio value
3. He is looking at an old dividend account, not his actual share balance in CSCS.

Because today Fidelity is *₦19.10 as of Sept 21, 2026*, up from ₦1.68 in May 2019 to ₦10.20 in May 2024. So on price alone, that old investment should be worth more than 2008, not less.

If he had 3,000 shares and held till now, capital value alone would be about:
3,000 x ₦19.10 = *₦57,300* — before bonuses and dividends.

And Fidelity has actually been one of the best performing bank stocks — *507% gain in 5 years* from 2019-2024, beating the whole NGX All Share Index.

*What anyone in that situation should check:*

- *CSCS statement* — how many units do you really have? Not what a paper share certificate says.
- *Registrar (First Registrars & Investor Services)* — any bonus shares? Fidelity did several bonuses. Unclaimed dividends?
- *Did you pay for rights issues?* If you ignored rights, your percentage holding was diluted.
- *Dividends over 18 years* — Fidelity has paid dividends every year since listing in 2005. Those dividends, if you claimed and reinvested, change everything.

So would land have been better? If he bought land in 2008 in a good location for ₦20k — yes, land would have beaten shares by far in Naira terms. But if you compare shares to shares, Fidelity didn't wipe his ₦20k to ₦5k. That ₦5,332 is likely just one piece — probably one unclaimed dividend cheque — not his total investment value.

If you know someone in this position, tell them to go to their stockbroker with their CHN number and check CSCS, not just the old paper document.

SonofElElyonRet:
You are funny but not funny at the same time. Insulting a person and attacking her integrity based on your baseless claim. The point here is you can't be sure you are right. So why attack her character and reputation based on probability? Very wrong and unacceptable

Question mark was inserted for a purpose.

Mbenefit Insurance
Aiico Insurance
Guinea Insurance
Fortis Insurance


...on a Bull Run?

Is the Penny Insurance Stocks Rally getting started gradually?

megawealth01:
LASACO have mercy on MEGAWEALTH01. I won't make that mistake again

😆

Those FTSE people. It seems where they are coming from is very far away.


All their indexed stocks price still dey stagnant.

Abi traffic hold their flights for air?

SonofElElyonRet:
🤔
What if she took a loan?

Why not we check their Last Financial Statement to see her annual salary range, and see how she intends to back back the loan of 85.4 Million.


With Cash, Cryptocurrency, or Clxxocurrency?

Regency Alliance Insurance Plc on Full Bid...