₦airaland Forum

Are you for real? Oga, I'm not new to stockbroking. You made a claim of many digital firms that offer 0.5% and can't name one besides MorganCapital.
Please I don't have need for your precious time. Have a nice day.

Wapgod:
For me to help you in a specific way, it would take too much of my precious time.
And you are not paying me for my time.
I am rendering help for free to you

If you initiate withdrawal, a mail is sent to your email indicating the withdrawal. Amount is credited to your account before close of business (all in about 3-4hrs).
I used it last November.

debeey87:
Has anyone used the withdrawal option on MorganCapital's itrade platform and how quick was the response

If I knew, I would not have asked. I know of rates between 0.75% to 1.35%.
It's okay sha. Your prerogative.

Wapgod:
Yes there are, look harder.

Any other digital stockbroker with 0.5% commission besides MorganCapital?

Wapgod:
Choose a stockbroker with 0.5% commission and you can trade yourself digitally on NGX.

If the company of interest is unquoted, you could look up the SEC required minimum capital base for each financial services subsector as guide to the minimum value (which should actually be x2 or more).

Wapgod:
I know this thread is for NGX.
But I have a question.
What the range of minimum money needed to acquire 51% of a small mature profitable Nigeria company preferrable in financial services?

There are just no small cap companies on NGX.

Last year, they paid about N3,760 per share on 10m shares (approx N37.6bln). I guess to settle the pioneer shareholders, pre-listing on NGX.

No dividend was paid in 2020.

Assuming 2022 PAT remains same as last year, EPS would be about N8.20 (for 2.5bln shares).

Phlinx:
They paid N15 dividend this year

They had only 10million shares issued then (note 20.2). Now with 2.5billion shares, EPS on that report should be N8.22.

Book value of N60billion. Market value on listing: N250billion. Wow.

Mpeace:
This resuld dey confuse me oh. 20billion in profit after tax, eps is now over 2thousand for a company with 2.5billion OS.

Veritas is the worst I have encountered. Not-too-prominent registrars pay dividends promptly (without contacting them) under this new regime of direct credit to banks, after KYC with CSCS.

I decided to sell off my Zenith and avoid all companies they are registrars to (or sell on or before div/bonus qualification date if I ever buy one). No time to write mails and wait endlessly on top of my money. Options dey ground.

Wapgod:
Same here.
I have not received the zenith dividends even though i have resubmitted the E-dividend mandate form and transfer form and emailed 3 of veritas registrars email address regarding this problem yet i got not reply.
Seems they are the one of the worst registrar i have ever encountered yet.

Another quarter ending. Equity portfolio/investment managers to book profits. Realized profits for Q3 reports.

Pardon me, I'm not a banker nor an economist. I just want to understand and learn. Strictly from your illustration and your point now, where will the banks get the money to pay their depositors total $21,000 assuming they all coming at the same time? Print money?

Mind you, my reasoning was just that the money supply was still $21,000, against the $21,900 you stated earlier ($900 being created by the banks).

Practically, deposits are Liabilities to DMBanks, while Loans are Assets to. Before these are created, the banks have their Capital to work with. The interplay/management of these get them operating as banks.

ositadima1:
I agree it is a hard one to understand. The error in your reasoning is that the depositors account is a different entity independent of loans issued. Anderson bank loaning out $900 to a debtor does not change d customers deposit balance, it is still $1000 !

The concept of money multiplier is a topic in monetary economics. It is thought in schools. I didn't create the concept.

Good we agree banks can't literally print money.

Your concept of 'creating' is based on credit. What credit does is to allow the borrowers produce/consume at a higher capacity than they ordinarily could. But in all, existing cash is transferred from one end to another to pay for this.

In your illustration, total deposits received was $21,000. Out which 10% ($2,100) was retained by both banks. Total loans was $18,900, but out of that $900 found its way back to one of the banks. Hence, cash with the banks is now $2,100 + 900 = $3,000. Cash still with borrowers is $18,900 - 900 = $18,000. Total cash with banks and borrowers is $3,000 + 18,000 = $21,000, which is equally the total deposits ab initio, but in different hands.

The banks did not 'print or create' new money but redistributed the existing money. Might be voodoo if they create money through loans and the money so created disappears upon repayment of such loans.�

ositadima1:
Banks can't literally print money but they do create new money when they make loans.

In fact, the vast majority of money in the economy today comes from these loans created by banks.

However, when a loan is repaid, that money disappears from the economy.

To understand the process of money creation, let us create a hypothetical system of banks. We will focus on two banks in this system: Anderson Bank and Brentwood Bank. Assume that all banks are required to hold reserves equal to 10% of their customer deposits. When a bank's excess reserves equal zero, it is loaned up.

Anderson and Brentwood both operate in a financial system with a 10% reserve requirement. Each has $10,000 in deposits and no excess reserves, so each has $9,000 in loans outstanding, and $10,000 in deposit balances held by customers.

Suppose a customer now deposits $1,000 in Anderson Bank. Anderson will loan out the maximum amount (90%) and hold the required 10% as reserves. There are now $11,000 in deposits in Anderson with $9,900 in loans outstanding.

The debtor takes her $900 loan and deposits it in Brentwood bank. Brentwood's deposits now total $10,900. Thus, you can see that total deposits were $20,000 before the initial $1,000 deposit, and are now $21,900 after. Even though only $1,000 were added to the system, the amount of money in the system increased by $1,900. The $900 in checkable deposits is new money; Anderson created it when it issued the $900 loan.

I hope this matter can be put to rest, abeg o.

Money lending banks are intermediaries between depositors and borrowers. The money they lend ("create") comes from deposits or loans they receive (existing money). Cannot print money.

On the other hand, the CBN can just print new money/cash (non existing) and pass it into the system. CBN can also lend money to borrowers.

Very distinct activities.

Nothing to worry. It must have been executed between 2.20 - 2.30pm.

The buyer (usually MM) intended buying@1.13. So all Sell orders to fill his buy order size @1.13 will go at that price. (See mkt trades for Transcorp today, all filled at 1.13 by 2.30pm).

Same applies if he (e.g MM) wanted to sell btw 2.20-2.30pm. You could get your buy order filled below your limit price. Bonus that happens occasionally.

Generally, your limit orders are sacrosanct. Hope this helps.

2zona:
Good evening guys, please can some one explain this to me. I carelessly and hopelessly entered a sell order for my Transccorp share @ price of 1.11 and went for my business, only to log in later this afternoon and discovered it was cleared at price of 1.13. I was surprised. Is it an error or actually possible in NSE.

Actually, no mistake. 46k was paid last year. N7.14 is proposed for this year, to be paid upon approval by shareholders at next AGM.

A company can pay all of current EPS and more as long as its retained earnings can cover it.

MonkeyHunter:
It looks like Guinness made a mistake in the dividend they declared in their Corporate Action Announcement. Their EPS was N7.15 and they proposed a dividend of 47k in their financials.

Thank you for your incisive analysis. It is funny how an investment has been reduced to fluctuating share prices.

The investment was actually around 2007 when the business was Intafact Breweries Ltd, which later merged with Pabod Breweries (Rivers State) and Inernational Breweries in 2017 to be the current International Breweries ( a much bigger enterprise).

Dum20:
Hello Bro,

I am responding to you not to have a political discussion but investment discussion.

Why do you think past presidents beg for foreign investments? Even politicians boast about bringing in foreign investors this is because the best investors are the ones that come in to build factories and employ labor.

You are doing your assessment using the wrong metrics.

For example:

1. The brewery had to buy land-- Land owners have made money and will feed their family, cloth their family, pay school fees, hospital bills, data, power supply, the economy will be good.

2. The brewery has to be built --- Engineers, technicians, labours will be employed these will also buy food, house, pay bills stimulating the economy.

3.Contractors has to supply goods and services to the brewery ---> Contractors and their family get to feed, go to school, houses will be built in and around Anambra.

These category of people will pay taxes to the government, the goverment makes money for every money this category of people spend.

I can confidently tell you that Anambra government has made back the money they spent on the brewery and is still making money from the investment.

In 2020 Zenith bank price went as low as N11 while some people bought it at N20 with hindsight are going to say an investment in zenith bank at N20 is a bad investment?

The responsibility of every government is to create an enabling environment for businesses to thrive and pay taxes and that is what the man did. The focus was not share price and dividend. The returns from dividend is miniscle when compared to other returns on investment.

Abacus is now managed by GT Fund Managers (subsidiary of GTCO). Investment One and/or GTFund Managers should have written you before now on the development, even though the transaction was publicised widely. No fears.

Diyke4rich:
Good morning house,

Please i just open my investment one account, only to notice my abacus subscription is no longer in my account including my money, please is there any cause of alarm, i wrote there customer care they have not responded in my investment manager.

It all depends on the date last year when you had the 200,000 shares because of the share reconstruction of 1 for 4. If you had 200,000 shares of AXAMansard before Sept 9, 2021 and sold 50,000 shares after Sept 11, you sold ALL your shares hence cannot be in your CSCS account. If you had UACN, you would have received UPDCREIT shares from the unbundling exercise. Shares should not appear and disappear on your CSCS unless your stockbroker is trading on your portfolio, which is unethical if not approved by you.

igbizen:
I found out that my Axa Mansard was removed from my portfolio when I asked my broker they said it’s not registered in CSCS. I found out that axa mansard readjusted their shares last year. I had 200,000 shares last year. Sold 50,000 from balance 150,000. All of a sudden it disappeared. My MTN shares also disappeared. I have been disturbing my broker. All they keep telling me is that they are working on it. A few days ago, the MYN shares appeared together with UPREIT ( UPREIT- which I don’t have in my portfolio and I have never bought before). After somedays both the MTN and UPREIT disappeared again. Please what else should I do? Apart from waiting for my broker?

It's very likely to be for the FGN Savings Bond. Payment is to be 4times in the year.

sirrotex:
I have only one Sukuk investment which is that of December 2021. I also subscribed to the FGN Savings Bond of March 2022. Could it be a payment for the FGN Savings Bond of March?

Dollarwoman:
Thank you so Aunty Mercy

info@gtlregistrars.com