₦airaland Forum

Why am I not surprised? Naija is a nation of lies.. Where lies are told everyday and we all take the lies as truth! Moreover The nation Nigeria was founded on lies! Read the history of how Lord Lugard and his girlfriend Miss Shaw told lies to the queen which subsequently led to the almagamation of the northern and sourthern protectorates which was named Nigeria! Tufia!!

wholexy009: OMG see flood for my area o, ola oluwa estate, itoki, ifo L.G ogun state. Na caonoe sure pass o. May god save us all. Govt shd come to our aid o. Give us good drainage channels and all this we be a thing of the past

Oga, when dem call all wild animals, I no think say Snail too go follow come out; they said people should post pics of Flood in lagos and not in one obscure village in Ogun state!!!

Even if Flood sweep out that your whole village , will it affect the price of garri in Mile 12?

hardbody: The logic is simple, Gowon ceded that part of Nigeria during his first tenure, in the course of his second tenure, he 'hurriedly' completed the diabolic step hiding under the canopy of ICJ judgment. Stu.pid old man. Later some bigots will say its the Igbo that loves money. This man in his greed sold the right of Nigerians and thereafter sold out on Abiola (his kinsman). Perhaps OBJ has Igbo blood flowing in his veins

Are you the only one that is not aware that OBJ's mun was pregnated by an Igbo police officer posted to abeokuta then?

CBN STOP RATES!!

91 days - 12.7%

181 days - 13%

364 days - 13.05


Rates are looking a lot better than the last outing

coolguyz: @all

mind you,in evaluating your TBills returns, you should consider its effective interest rate being an upfront deal (zero coupon) when comparing to other interest bearing back-end deals.

Yea!! That is one of the things I like about Tbills. I get my upfront immediately and I get to invest it back into my own daily business. Effectively am getting more for the funds invested as the upfront interest also gets to do some work to generate more money before the maturity date!!

feelamong: On the Access bank deal, I would reach out to my guys that are marketers there ASAP and give the house a feed back soonest

Finally was able to confirm from my guys working in Access Bank Plc. There is actually no such product with 14% Interest rates!

Kslib: Pls does anybone knows the current price for one bag of beans? I have already bought garri...

Are you asking for the price here in banana Island or the price in Potiskum?

Shuen: OTEDOLA AGAIN!!! Definitely,this guy is fronting for some people in high places.

SAME OTEDOLA AGAIN WHO EVEN ALLOWED HIM TO BID? I THOT HE HAD BEEN BLACKLISTED BY CBN?

ANYWAY LET ME SEE HOW HE WILL GET THE MONEY TO PAY UP FOR THE AMOUNT HE BIDDED FOR?

BABA GOD!!!! WETIN WE DO FOR ALL THIS SUFFERING FOR NAIJA NAAA??

Meanwhile why is this interview not on the front page?

If to say na one 'celebrity' born ogbanje una go put am for front page!

Mchewwwwwww!!!!!!!!!!!

For all those that missed out in the last treasury Bills Auction. Another Tbills Auction comes up on the 27th of this month!!!

From all indications we are gonna see more drop in the yields!!

http://af.reuters.com/article/nigeriaNews/idAFL5E8KLD3I20120921?sp=true

Nigerian yields seen easing on strong demand

Yields on Nigerian Treasury bills are seen falling next week as investor appetite grows ahead of the country's inclusion on the JP Morgan bond index, while rates on Kenyan short term debt are seen ticking up.

NIGERIA

Yields at next week's Treasury bill auction in Nigeria are expected to fall further due to increased investor appetite ahead of Nigeria's inclusion on the JP Morgan index and on the back of falling inflation.

Nigeria plans to issue Treasury bills of all maturities worth a total 104.70 billion naira ($664.34 million) at its regular bi-monthly debt sale on Sept. 27.

At this week's auction, yields on the 91- and 182-day paper fell by more than 100 basis points.

Dealers said some foreign investors including pension fund and local fund managers were taking position in the market ahead of Nigeria's inclusion on the JP Morgan index. The expected inflow of offshore interest in the local debt market to drive yields further down in the near term.
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http://www.thisdaylive.com/articles/banks-stopped-from-lending-to-otedola-dantata-417-others/125575/

In a move aimed at strengthening financial stability and instilling discipline in the banking sector, the Central Bank of Nigeria (CBN) has barred banks in the country from extending further credit to 113 companies and 419 directors/shareholders, including those belonging to Mr. Femi Otedola, Alhaji Sayyu Dantata, Sir Johnson Arumemi-Ikhide, former Power Minister, Prof. Bart Nnaji, Mrs Elizabeth Ebi and Dr. Wale Babalakin.

The CBN arrived at this decision as a result of the reluctance by the debtors to pay back their loans despite the purchase of the debts at an agreed price by the Asset Management Corporation of Nigeria (AMCON).

In a new circular dated September 17, and obtained exclusively by THISDAY, the central bank stated that the restriction would apply to individuals, organisations, companies as well as principal shareholders and directors of companies where the outstanding value of loans purchased by AMCON amounted to N5 billion or above as at the day of purchase, without regard to the actual amount paid by AMCON.

The circular, which was signed by CBN’s Director, Banking Supervision, Mrs. A. O. Martins, stated that “it has become necessary to stop debtors who failed to repay their loans to banks and had these loans subsequently transferred to AMCON, from further enjoying credit facilities from Deposit Money Banks (DMBs) until they fully repay agreed outstandings to AMCON.”

The circular, which was accompanied by a detailed list of the blacklisted debtors, showed that worst hit by the directive are Zenon Petroleum, owned by Otedola, which was indebted to banks to the tune of N192.4 billion; MRS Holdings Limited, which belongs to Dantata – N119.98 billion; Seawolf Limited – N98.32 billion; Arik Air Limited, belonging to Arumemi-Ikhide – N85.481 billion; NITEL Plc/M-Tel – N71.547 billion; and Capital Oil and Gas Limited, which belongs to Ifeanyi Ubah – N48.014 billion.

Others include Falcon Securities, whose Managing Director, Mr. Peter Ololo, was arraigned alongside several bank executives in 2009 by the Economic and Financial Crimes Commission (EFCC) – N162.9 billion; Rockson Engineering Limited, owned by Arumemi-Ikhide – N60.475 billion; BGL Securities – N6.44 billion; Rahamaniyya Oil & Gas Limited – N46.38 billion; Bi-Courtney Limited – N20.214 billion; and Geometrics Engineering, owned by Nnaji – N19.76 billion.

The restriction also applies to: Aero Contractors Company, owned by the family of Olorogun Michael Ibru - N32.579 billion; Tinapa Business Resort – N18.509 billion; Nestoil Limited, belonging to oil and gas entrepreneur, Ernest Azudialu – N13.506 billion; Dorman Long Engineering – N9.667 billion; Ascott Offshore Nig. Ltd, belonging to former banker, Henry Imasekha and the Berkley Group – N64.728 billion; Gitto Constuzioni – N11.838 billion; and Dansa Foods – N14.880 billion, whose directors, Sani and Abdul Dangote, are the brothers of business mogul, Alhaji Aliko Dangote.

Commercial banks were also directed not to grant further credit to Cross River and Zamfara States because of the failure of the Tinapa Business Resort and Accountant General, Ministry of Finance, Zamfara to pay back loans collected respectively.
The restriction, according to the central bank, came into effect from the date of the circular and shall remain “until full liquidation of agreed indebtedness to AMCON”.

For Zenon Petroleum whose initial debt of N192.423 billion was priced by AMCON at N140.999 billion, the memo showed that “negotiations are ongoing and with fairly clear roadmap”. It also revealed that MRS Holdings’ debt of N119.986 billion, acquired by AMCON at a price of N91.620 billion has been “restructured and is performing”.

Similarly, while the remark on Seawolf’s debt of N98.328 billion that AMCON priced at N88.496 billion was put at “negotiations ongoing,” it showed also that Arik Air’s debt of N85.481 billion which was acquired by AMCON at N62.970 billion has been “restored but there is a moratorium”.

It also showed that while Capital Oil and Gas’ N48.014 billion has been “restructured and awaiting performance,” Rockson’s debt of N60.475 billion, which was acquired by AMCON at N36.331 billion, is still “pending”.

To ensure compliance, the CBN warned that any bank that flouts the guidelines would be made to make an immediate provision of 100 per cent of total principal and interest outstanding in the account of the customer and related parties, in addition to whatever regulatory penalties the CBN may decide to impose.

http://af.reuters.com/article/nigeriaNews/idAFL5E8KKHO120120920

Nigeria issues 101 bln naira in T-bills, yields down

LAGOS, Sept 20 (Reuters) - Nigeria has sold 101.22 billion naira ($642.26 million) in treasury bills with maturity ranging from three months to six month, the central bank said on Thursday, and yields were down more than 100 basis points due to strong demand for the paper.

The central bank sold 37.49 billion naira of 91-day paper at a yield of 12 percent, lower than the 13.64 percent it offered at the previous auction.

It sold 63.73 billion naira in 182-day paper at 12.6 percent, down from 13.80 percent previously.

Total subscriptions were at 220.88 billion naira, while demand for the 182-day bond was the heaviest, at 143.48 billion naira.

Nigeria's monetary authorities left the benchmark interest rate on hold at 12 percent on Tuesday, while inflation rate declined to 11.7 percent in August, from 12.8 percent previously.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity. ($1 = 157.60 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)

MyMail2D: Whoa.... [color=#000099][/color]
I was able to get in at 12.50%. I am now looking for another safe investment option as I am not sure of doing TBills at a lower rate.
Any update on the 14% from Access bank??
Thx.

On the Access bank deal, I would reach out to my guys that are marketers there ASAP and give the house a feed back soonest

coolguyz: Guys,

Below are the CBN stop rates for the treasury bills auction held today;

91 days was at stop rate of 12.00%
182 days was at stop rate of 12.60%

Rates have really gone way DOWN. . . . .

Omo, these rates are really down o!! Chai!! Thunder fire satan!!

These foreign investors don carry their 'hot money' enter naija dey spoil our market small small o!

This ad is rather boring can you make a better one?

coolguyz: The incentive it still has to offer is that it is liquid, risk-free and competitive in face of other money market instruments. No investment house will pay you 10% on a few millions currently unless you doing a long term and usually its volume based.

For individuals, think of your cost of funding (its your money at zero interest thus your cost can be equated to be your opportunity cost). What i think the suave investor should think of now is diversified investment basket.

Thinking of the Capital market too but waiting for the usual January offload after holiday break and get out by April when companies start releasing results.

But if one could get 14% in dat Access bank deal; doesnt it look better?

coolguyz: The Monetary Policy Committee has concluded its meeting held on Monday, September 17, 2012 and Tuesday, September 18, 2012.

The decisions reached at the end of the meeting are:

1. Retained the Monetary Policy Rate (MPR) at 12%, with the symmetric corridor of +/-2%
2. Retained the Cash Reserve Ratio (CRR) at 12%, and
3. Retained the Net Foreign Exchange Open Position (NOP) at 1%.

The major considerations of the MPC are:

1. Ensuring robust external reserves position.
2. Mitigating negative effect of increased Foreign Portfolio Investment (hot money), and
3. The inflationary impact of high "core inflation'.

Bros; is Tbills still worth a punt?

MyMail2D: My investor is advising me to go for 12.5% for 182 days. Are the rates going this low?
Inflation is about 12%, these is making T-Bills not interesting oo...

Yea; the rates dont look too interesting to an average Joe anymore! But 12.5% for 182 days should be the rite bid!
As for me I will reduce my investments here and play more into the capital market. My international Breweries share has already returned 100% after just 3 months! Time to do more research in the capital market as that is where its happening at the moment!

Time to look at japaul Plc wella

MyMail2D: How is Access Bank able to give 14%, what is the catch??

If you know what is happening in the Over night market by banks then you will know the catch! here they give overnite calls deposits to other banks desperate for funds at 18-20%..moreover am aware that banks still lend at an average of 33-37%p.a to traders in Idumota and Aspanda

Ojix85: Any other viable means of profitable investment boss?
Got a mail from Access Bank, advertising their Fixed Rate Deposit. Minimum Capital is N1m, at 14%pa Interest rate.. Any ideas or suggestions?

From all indications this Access Bank deal will be the sweet deal soonest! But I can assure you that as soon as Tbills yield drop, this rate will fall too!

But I like Tbills cos I can actually get my Interest upfront and there is no witholding tax attached to it!

coolguyz: Expectations at the auction:

91 days: 12.00% - 13.00%
182 days: 12.85% - 13.30%

**note these are personal opinion and not in advisory capacity. also do not represent CBN official rates

Bros, this rates are definitely not doing well at the moment. I have spoken to my Fund Manager and several other managers and they all agree that the rates would be coming down well. All the effect of the JP Morgan's announcement! Now all the foreign investors are trooping to naija to buy out Cheap Tbills!!

Am not bidding this week but i have advised a couple of friends to put in for 12.25%

better stopy mumuing urself and post the Price ASAP

Toomaxi: @feelamong, i respect u, ur analysis is working, interbrew is around N11. Guy whch other stock is nxt and do u get dt 1derful analysis

For now..all am buying is OANDO and Sterling Bank!

Any moment from now, I will take my profit on International Brewries and move to japaul oil plc!

austinsmat: like how many months will it takes to bounce back why not grab some free money from moving train

No no....not my style to enter a moving train! once its off I look around for other trains to enter. Most time once the trains have moved, you will only be dumped on by the big brokers and fund managers.....

Stock marlet investing is with long term in view but then if there are profits to be booked in the short term, I dont hesitate to take mine. I entered International breweries at N5 early this year...today am sitting on more than 110% profit for a N2M investment....I did same for Access at N4.38.. and UBA at N1.98..

I will wait on this one cos once it starts to move, i will be watching millions of people trying to get in at the VIP coach of the Train.

austinsmat: bros ur own OANDO is on loss side with loss of 0.3 at price of 13.46

Yea OANDO lost yesterday...but I still believe its been punished enough. I have started to buy it..hopefully one year from now I would have doubled the money.

NB: are u aware that OANDO in collabo with Lagos state Govt is bidding for the Eko Power Disco? Once that deal is sealed......make i hold my breath here!!

FunmyKemmy: @ feelamong

I sent you a mail. Kindly respond.

I don respond!

why wont they make this amount of money when they dine and wine with the oil thieves and criminals in govt..meanwhile they also pick pocket common small savings customer and say its 'maintainance fee' every month

austinsmat: as for outside banking industry i will advise to go nigeria breweries

Hmmmm... Nig Brew at Over N125.. dont you think its already over priced

austinsmat: firstbank is moving faster now with highiest hit this year 14;40 as for yesterday 12/09/12

For now am looking for stocks outside the banking industry..I have already bought Access, GTB, FBN and Zenith........closely watching Sterling Bank!

Outside banking, am going for OANDO! I think it has been punished enough!!

I still use my usual fund managers.... No reasons to change yet. Am going for Access Bank shares too for now!!

http://af.reuters.com/article/nigeriaNews/idAFL6E8K7JU920120912

* Profits expected to push Nigeria index up 25 pct this year

* Stocks up 19 pct so far, emerging market peers up 6 pct

* Bond yields fall, stocks rise, foreign inflows lift naira


LAGOS, Sept 12 (Reuters) - Nigerian fund managers have been switching into stocks from bonds, hoping that strong earnings and new rules on the bourse will drive them up 25 percent this year.

The main market index, which has been hovering around a 59-week high hit last week, has gained 19 percent so far this year, after shedding 17 percent in 2011.

It has also outperformed its emerging market peers , which gained on average just under 7 percent.

"Our target for (holdings of) stocks this year is around 60 percent and 40 percent in bonds," Mayowa Ogunwemimo, head of Nigerian asset management firm FSDH, which manages 50 billion naira, told Reuters. She had 40 percent in stocks last year.

Pension funds and asset managers are targeting an index level of 26,000 points by year-end on sub-Saharan Africa's second biggest stock market, which opened at 20,672 points in January, as bond yields fall and the naira stabilises.

FunmyKemmy: Thanks feelamong. The bank officer is not cooperating.

Just hit me up on my email and i will introduce you to my account officer. I think they have a branch of their investment bank there in Ibadan.

(Feelamong@gmail.com)