₦airaland Forum

Yes

Okay

New

Sorry I don't forget say na you invent English

New

Photos

New reality tv show

See Bad Belle

New Reality TV Show

New reality tv show

Kiddwaya's father's mansion

New

Forex and stock trading are two very different things, beware of people saying they are proficient in both, it's very rare. Having said that I'm very proficient at trading in the Nigerian stock exchange. Call 07068449769 if you are interested in training, trading or investment advice concerning Nigerian stock exchange specifically

Sunu Assurance

Sunu Assurance

I have millions stuck in Sunu Assurance for the past 5 months because the stock has refused to rise above N0.20 for various reasons and I know I'm not the only one, the solution to this is actually very simple we can all make the stock rise and either get our money out or at least increase the value of our holdings but for crying out loud this cannot happen if some idiots keep clogging up the market by trying to sell at N0.20.

I'm prepared to pump in money to make the stock appreciate but I'm tired of throwing away my money buying this share at N0.20 bottom price if you must sell sell for at least N0.22 and let this stock move. This share can easily appreciate to N0.30 and above if we stopped selling at such a low price and invest a little into creating a rally. Agree or disagree below or do you have a better plan please share it then it's been 5 months of deadlock let's end this

I have millions stuck in Sunu Assurance for the past 5 months because the stock has refused to rise above N0.20 for various reasons and I know I'm not the only one, the solution to this is actually very simple we can all make the stock rise and either get our money out or at least increase the value of our holdings but for crying out loud this cannot happen if some idiots keep clogging up the market by trying to sell at N0.20.

I'm prepared to pump in money to make the stock appreciate but I'm tired of throwing away my money buying this share at N0.20 bottom price if you must sell sell for at least N0.22 and let this stock move. This share can easily appreciate to N0.30 and above if we stopped selling at such a low price and invest a little into creating a rally. Agree or disagree below or do you have a better plan please share it then it's been 5 months of deadlock let's end this

In a circular made available to insurance firms, NAICOM disclosed that under the new capital regime;

life insurance underwriting firms, which currently have a minimum paid up share capital of N2 billion, will compulsorily shore up their capital to N8 billion, representing a 200 percent increase.

By the new paid-up share capital regime, Insurance firms underwriting general business have been mandated to shore up their capital from N3 billion to N10 billion.

Composite insurance firms, that is, firms underwriting both life and general business will raise their capital from the current N5 billion level to N18 billion.
Reinsurance firms will move up from the current minimum capital of N10 billion to N20 billion.

Nigeria’s insurance sector regulator, the National Insurance Commission (NAICOM), has increased the minimum paid-up share capital of insurance and reinsurance firms. The move though expected, sent shock waves around the insurance sector of Nigeria.

Breakdown: In a circular made available to insurance firms, NAICOM disclosed that under the new capital regime;

life insurance underwriting firms, which currently have a minimum paid up share capital of N2 billion, will compulsorily shore up their capital to N8 billion, representing a 200 percent increase.

By the new paid-up share capital regime, Insurance firms underwriting general business have been mandated to shore up their capital from N3 billion to N10 billion.

Composite insurance firms, that is, firms underwriting both life and general business will raise their capital from the current N5 billion level to N18 billion.
Reinsurance firms will move up from the current minimum capital of N10 billion to N20 billion.

Effective date: In the circular signed by Pius Agboola, Director, Policy and Regulation Directorate for Commissioner for Insurance, NAICOM disclosed that the new minimum paid-up share capital requirements shall take effect from the commencement date of the circular for new applications, while existing insurance and reinsurance companies shall be required to fully comply not later than June 30, 2020.

NAICOM stated, “The provision in respect of the requirement of statutory deposit as stipulated in part III, section 10 of the insurance Act 2003 shall apply on the effective date of commencement of this circular”

It was looming: Nairametrics had in April 2019, reported a possible increase in the capital base of insurance firms to about N15 billion. According to industry sources, NAICOM was to mandate insurance firms to recapitalise or merge in order to meet the new capital requirement.

Major U-turn: Last July, Naicom announced an increase in the capital base of Insurance Companies but suspended it. At the time it introduced a tier system where Life insurance firms were supposed to have three capitalization tiers. Tier one companies were required to have N6 billion as capital. Tier two life insurance firms N3 billion, while tier 3 firms were to remain at N2 billion.

Non-life insurance firms on the other hand also had three tiers. Tier one non-life firms are mandated to have a capital base of N9 billion. Tier two firms in this segment were expected to have a capital base of N4.5 billion, while tier 3 firms maintained the current capital base of N3 billion. This time around the regulator has decided to go without a Tier.

What this means: Insurance companies in Nigeria are now faced with an imminent race to raise capital. There is going to be a flurry of right issues, public offers, and even IPOs in the coming weeks. Just like it happened to banks in the Soludo era, most insurance firms will have to consider mergers and acquisitions to meet the capital requirements.

Bad timing: NAICOM is perhaps the winner in all of this as it finally gets to fix the insurance sector’s capitalization problem. However, this policy could not have come at the worst times for Insurance firms. There is a paucity of investors in the capital market with most focussed on buying MTN shares. Foreign investors that have for years been hoping to acquire insurance firms on the cheap in Nigeria may have a window of opportunity to do so. Most insurance firms will be willing to get bought out or partially acquired.

Who will benefit: FInancial advisory firms, private equity companies, stockbrokers, stock exchange, banks, accountants, lawyers are poised to earn huge fees from the spate of deals that will be consummated between now and June 30th, 2020.

What next: Insurance companies will have to consider complying with the rules or once again lobby the regulators to postpone the effective date of June 30, 2020. NAICOM suspended this requirement last year when it first issued it and could do so again if pressure is from the “top.” For now, the focus of all insurance firms in Nigeria will be geared towards raising capital.

About NAICOM: The National Insurance Commission was established by the National Insurance Commission Act No 1 of 1997 to ensure the effective administration, supervision and regulation of insurance business in Nigeria as well as regulate transactions between insurers and reinsurers within and outside Nigeria.



OUR TAKE:

This is further confirmation of our prediction that insurance shares like SUNU assurance, Regal, Courtville and others are about to go on significant bull run as they jostle for consolidation and acquisition in light of NAICOM's new capitalisation requirements

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth

Nigeria’s insurance sector regulator, the National Insurance Commission (NAICOM), has increased the minimum paid-up share capital of insurance and reinsurance firms. The move though expected, sent shock waves around the insurance sector of Nigeria.

Breakdown: In a circular made available to insurance firms, NAICOM disclosed that under the new capital regime;

life insurance underwriting firms, which currently have a minimum paid up share capital of N2 billion, will compulsorily shore up their capital to N8 billion, representing a 200 percent increase.

By the new paid-up share capital regime, Insurance firms underwriting general business have been mandated to shore up their capital from N3 billion to N10 billion.

Composite insurance firms, that is, firms underwriting both life and general business will raise their capital from the current N5 billion level to N18 billion.
Reinsurance firms will move up from the current minimum capital of N10 billion to N20 billion.

Effective date: In the circular signed by Pius Agboola, Director, Policy and Regulation Directorate for Commissioner for Insurance, NAICOM disclosed that the new minimum paid-up share capital requirements shall take effect from the commencement date of the circular for new applications, while existing insurance and reinsurance companies shall be required to fully comply not later than June 30, 2020.

NAICOM stated, “The provision in respect of the requirement of statutory deposit as stipulated in part III, section 10 of the insurance Act 2003 shall apply on the effective date of commencement of this circular”

It was looming: Nairametrics had in April 2019, reported a possible increase in the capital base of insurance firms to about N15 billion. According to industry sources, NAICOM was to mandate insurance firms to recapitalise or merge in order to meet the new capital requirement.

Major U-turn: Last July, Naicom announced an increase in the capital base of Insurance Companies but suspended it. At the time it introduced a tier system where Life insurance firms were supposed to have three capitalization tiers. Tier one companies were required to have N6 billion as capital. Tier two life insurance firms N3 billion, while tier 3 firms were to remain at N2 billion.

Non-life insurance firms on the other hand also had three tiers. Tier one non-life firms are mandated to have a capital base of N9 billion. Tier two firms in this segment were expected to have a capital base of N4.5 billion, while tier 3 firms maintained the current capital base of N3 billion. This time around the regulator has decided to go without a Tier.

What this means: Insurance companies in Nigeria are now faced with an imminent race to raise capital. There is going to be a flurry of right issues, public offers, and even IPOs in the coming weeks. Just like it happened to banks in the Soludo era, most insurance firms will have to consider mergers and acquisitions to meet the capital requirements.

Bad timing: NAICOM is perhaps the winner in all of this as it finally gets to fix the insurance sector’s capitalization problem. However, this policy could not have come at the worst times for Insurance firms. There is a paucity of investors in the capital market with most focussed on buying MTN shares. Foreign investors that have for years been hoping to acquire insurance firms on the cheap in Nigeria may have a window of opportunity to do so. Most insurance firms will be willing to get bought out or partially acquired.

Who will benefit: FInancial advisory firms, private equity companies, stockbrokers, stock exchange, banks, accountants, lawyers are poised to earn huge fees from the spate of deals that will be consummated between now and June 30th, 2020.

What next: Insurance companies will have to consider complying with the rules or once again lobby the regulators to postpone the effective date of June 30, 2020. NAICOM suspended this requirement last year when it first issued it and could do so again if pressure is from the “top.” For now, the focus of all insurance firms in Nigeria will be geared towards raising capital.

About NAICOM: The National Insurance Commission was established by the National Insurance Commission Act No 1 of 1997 to ensure the effective administration, supervision and regulation of insurance business in Nigeria as well as regulate transactions between insurers and reinsurers within and outside Nigeria.



OUR TAKE:

This is further confirmation of our prediction that insurance shares like SUNU assurance, Regal, Courtville and others are about to go on significant bull run as they jostle for consolidation and acquisition in light of NAICOM's new capitalisation requirements

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth

MTN Nigeria gains 10% on first day of trading


The Nigerian Stock Exchange ended Thursday’s trading session in positive territory. The All Share Index closed at 28,438.19 basis points, up 0.54%.

Year to date, the index is down 9.52%.

Top Gainers and Losers

MTN Nigeria Plc was the best performing stock today. The stock gained 10% to close at N99, in its first trading session ever. 5.5 million shares valued at N548 million were traded in 15 deals.

NPF Microfinance Bank Plc appreciated by 9.70% to close at N1.47. ABC Transport Plc rounds up the top three gainers for today. The stock gained 7.41% to close at N0.29.

On the flip side, Unity Bank Plc was the worst performing stock, declining by 9.72% to close at N0.65. Cutix Plc also fell by 8.33% to close at N1.65. Sovereign Trust Insurance Plc rounds up the top three losers for the day. The stock shed 8.00% to close at N0.23.

Top Trades by Volume

Transnational Corp of Nigeria Plc was the most actively traded stock today. 105 million shares valued at N130 million were traded in 74 deals. Access Bank Plc was next with 23.5 million shares valued at N218 million traded in 164 deals.United Bank of Africa Plc rounds up the top three most actively traded stocks today with 19.7 million shares valued at N121 million traded in 293 deals.



UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

MTN Nigeria gains 10% on first day of trading


The Nigerian Stock Exchange ended Thursday’s trading session in positive territory. The All Share Index closed at 28,438.19 basis points, up 0.54%.

Year to date, the index is down 9.52%.

Top Gainers and Losers

MTN Nigeria Plc was the best performing stock today. The stock gained 10% to close at N99, in its first trading session ever. 5.5 million shares valued at N548 million were traded in 15 deals.

NPF Microfinance Bank Plc appreciated by 9.70% to close at N1.47. ABC Transport Plc rounds up the top three gainers for today. The stock gained 7.41% to close at N0.29.

On the flip side, Unity Bank Plc was the worst performing stock, declining by 9.72% to close at N0.65. Cutix Plc also fell by 8.33% to close at N1.65. Sovereign Trust Insurance Plc rounds up the top three losers for the day. The stock shed 8.00% to close at N0.23.

Top Trades by Volume

Transnational Corp of Nigeria Plc was the most actively traded stock today. 105 million shares valued at N130 million were traded in 74 deals. Access Bank Plc was next with 23.5 million shares valued at N218 million traded in 164 deals.United Bank of Africa Plc rounds up the top three most actively traded stocks today with 19.7 million shares valued at N121 million traded in 293 deals.



UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

UMM stock pick of the week

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a significant bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

First Aluminum

In preparation for the voluntary delisting of the issued share capital of First Aluminium Nigeria Plc ((First Aluminium or the Company) from the Daily Official List of The Exchange, Apel Asset Limited on behalf of First Aluminium has requested that the issued share capital of the Company be placed on suspension.

In view of the above, the shares of the Company will be placed on suspension effective, Wednesday, 15 May 2019.

The investing public will be notified of further developments regarding the delisting of the Company.

First Aluminum

In preparation for the voluntary delisting of the issued share capital of First Aluminium Nigeria Plc ((First Aluminium or the Company) from the Daily Official List of The Exchange, Apel Asset Limited on behalf of First Aluminium has requested that the issued share capital of the Company be placed on suspension.

In view of the above, the shares of the Company will be placed on suspension effective, Wednesday, 15 May 2019.

The investing public will be notified of further developments regarding the delisting of the Company.

Stocks to watch comprises the top gainers and losers of the previous week, as well as companies expected to have corporate actions this week.

Disclaimer: Stocks to watch is not a Buy/Sell/Hold list

SUNU Assurances plc

Based on fundamental analysis and recent trading volumes, this stock is projected to go on a bull run in the near future

SUNU Assurances Nigeria Plc has assured shareholders that recent corporate changes will lead to better performance in the years ahead.
At the annual general meeting yesterday in Lagos, directors of the insurance company said the rebranding of the company and appointment of new management reflected the company’s commitment to long-term growth.

Beta Glass Plc

Beta Glass takes the first spot in this week’s watchlist, having led gainers for the previous week. The stock gained 23.1% last week, and could decline if investors decide to cash in their profits.

Goldlink Insurance Plc

Goldlink Insurance takes the second spot in this week’s watchlist, as it was the worst performing stock last week. The stock declined by 36.11% this week, and may drop further due to its poor fundamentals.

Cadbury Nigeria Plc

Cadbury Nigeria takes a spot this week, as the qualification date for its 2018 dividend is the 17th of May. Investors may decide to take positions in the stock in a bid to qualify.

The firm will be paying a dividend of N0.25 for the 2018 financial year.

International Breweries Plc

International Breweries maintains a spot in this week’s watchlist, as the company is yet to release its release its results for the 2018 financial year. In addition, its Q1 2019 results are due.

Presco Plc

Presco Plc also maintains a spot this week, as the company is yet to release its audited full year 2018 results. The firm had indicated that it would release the results on or before the end of May.

11 Plc, Infinity Trust Mortgage Bank, Seplat Plc, Newrest ASL

11 Plc (formerly known as Mobil Oil Nigeria), Infinity Trust Mortgage Bank, Seplat Petroleum, Nigerian Breweries and Newrest ASL have a joint spot this week’s watchlist; the companes will be holding their Annual General Meetings (AGMs) this week