₦airaland Forum

PZ uses June to May Financial cycle so the AFS is not yet due...

essentialone:
Full List of Companies yet to publish their Audited Financial Statement:

*Financial Services*

*Banks*
1. *FCMB Bank*
2. *Fidelity Bank*
3. *Jaiz Bank*
4. *Sterling Bank*
5. *LivingTrust Mortgage Bank*

*Insurance*
6. *Regency Alliance Insurance*
7. *Cornerstone Insurance*
8. *Fortis Global Insurance*
9. *Mutual Benefit Assurance*
10. *Universal Insurance*
11. *Prestige Assurance*

*Oil & Gas*
12. *Aradel Holdings*
13. *Caverton Offshore Support Group*
14. *Conoil*
15. *Oando*

*Consumer Goods*
16. *Honeywell Flourmill*
17. *Northern Nigeria Flour Mills*
18. *PZ Cussons Nigeria*

*Industrial Goods*
19. *Aluminum Extrusion Industries*

*Services*
20. *Redstar Express*

*ICT*
21. *Legend Internet*

*Natural Resources*
22. *Japaul Gold & Ventures*

*Conglomerates*
23. *SCOA Nigeria*

*Other Financials*
24. *NCR Nigeria*

Which of them do you have in your Portfolio?

PZ wtd of ₦100

You'll be shocked that there could be a large variation btw UFS & AFS

Oasisblue:
But we have the full year 2025 result already- just not audited.

ARADEL. ±
CONOIL. ±
ETERNA. +8.79%
OandO. ±
SEPLAT. ±

E dey go loke loke (in the voice of D'Banj)

GeneralDae:
ASI: 250k 😃

Those FIRSTHOLDCO volumes

Thanks

oliverjiad:
with ₦4m each would get it done

GeeKudi:
I really don't know why this is difficult for people to know. Whether video or audio, whether the claims are false or true, we all operate independently in the market. Your lie cannot affect my truth, neither can your billion naira worth porfolio affect my tashere journey-just-dey-start portfolio. At best, ignore his advice/recommendation if you don't trust him. It's just very simple. There is no point swallowing paracetamol when you don't have a headache.

I want to assume they are gradually paying off the debts faster than initially scheduled wrt the increased revenue.

That is the ONLY reasonable explanation for the stagnant price coupled with the unpublished AFS '25 and Q1 '26...

GeeKudi:
The question now is, where is OANDO in all of this?

DING

Selah

FIRSTHOLDCO

https://doclib.ngxgroup.com/Financial_NewsDocs/FIRST_HOLDCO_-_NOTICE_OF_AGM_MAY_2026.pdf

₦1tn

Ding!!!

Does anyone understand what's going on here?

https://doclib.ngxgroup.com/Financial_NewsDocs/DEAP_CAPITAL_MGT_-_Q2_March_2026.pdf

ARADEL. ±
CONOIL. ±
ETERNA. -0.67%
OandO. ±
SEPLAT. +0.91%

Good Day

Kindly help with the cost of clearing:
2016 Mercedes Benz GLK250 BLUETEC
2016 Mercedes Benz GLK350 BLUETEC

Containerized. Grimaldi

SEPLAT +₦105

yMcy56:
Lol.
Make una dey see to your UBA o
After-all, anyone remember me when una dey chop your dividends upandan? 😁
Na ZICHIS and DANGCEM I dey reason for now...😊

Madam Ymcy56 will say it is Over analysis

Itzlinda:
Be like say we fit buy uba at 35 oo.

The price just de fall oo.

Be like say people hate tony ways

Ding

RE: JAPAUL Gold refinery

mikeapollo:
T&T Refinery ke?
Is that still a viable prospect on the table?
My expectation of good news is about the Angolan bloc.

ZENITH DIV landed

Very possible. Espacially IF May ends without any news of the refinery.

But No forget say na so you wait for ARADEL o

megawealth01:
Make una calm down. JAPAUL go do 2 naira una go run

See OANDO going to sub 40

You also noticed the activities...

GeeKudi:
Is Japaul ready or what is going on? Any wisper? abeg oo

Ding

Omo the chokehold ehn...

Sunrisepebble:
It will be a miracle if Access pays an interim dividend this year.

https://www.bloomberg.com/news/articles/2026-05-05/nigeria-s-access-bank-to-sell-down-foreign-units-after-central-bank-order?taid=69fa2a3c16d544000169c559&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter

Ogawisdom is celebrating ₦1.20 loss in Zenith today.
He is waiting for Zenith at ₦85

Streetinvestor2:
What is bleeding

Give me assurance...

SonofElElyonRet:
So what about the assurances of Chuka that the acquisition will be consummated?

Valid points. However, the PR energy should be conserved.
We don't smile at dishonest management of funds...

isaacosas01:
Let’s say you hate Access. Let’s say everything bad you’ve heard about it is true. The dividend is never coming.
Fine. Even if every single bear case argument is correct — Access should still not be trading at ₦25.50.”

My ₦54 short term price target requires one assumption — that Access Holdings continues to operate as a going concern. That’s it. No dividend. No earnings growth. No re-rating. No good news. Just existence. A bank with ₦53.4 trillion in assets, 60 million customers, operations across 22 countries, a CBN banking licence, and ₦4.33 trillion in verified equity does not trade at 0.31x book indefinitely simply because investors are unhappy with management.

Even the analysts who have never recommended Access, who have the lowest price targets on the street, who are most sceptical — their bear case is ₦33. Not ₦25.50.”

At ₦25.50, the market is saying Access is hiding ₦3 trillion in secret losses
Access has ₦4.33 trillion in audited shareholders’ equity. At ₦25.50, the market values the entire company at ₦1.36 trillion. That means the market believes ₦2.97 trillion of that equity simply does not exist

You are buying Africa’s largest bank by assets for less than 2 years of earnings
Access earned ₦743 billion after tax in 2025. It earned ₦216 billion in Q1 2026 alone — annualised that is ₦866 billion. At ₦25.50, the entire company costs ₦1.36 trillion. You are paying 1.57x one year of earnings for a bank with ₦53.4 trillion in assets. Africa’s largest bank by total assets — trades at 1.57x. That is not a discount. That is a pricing error.

It is [conditionally] refundable

Note 15.3:
A deposit of ₦1,500,000,000 placed in an Escrow account in connection with the proposed acquisition of Agro-Allied Resources & Processing Nigeria Limited remains outstanding. This deposit is included within Cash and Cash Equivalents and will be applied towards the acquisition consideration upon completion, or returned to the Company in the event the acquisition does not proceed (see Note 13.1 and Note 32).

A deposit of ₦1,500,000,000 (₦1.5 billion) placed in an Escrow account in connection with the acquisition remains outstanding as at 31 December 2025. This deposit is included within Cash and Cash Equivalents (see Note 12) and will be applied towards the purchase consideration upon completion of the acquisition, or returned to the Company in the event the acquisition does not proceed...

chimex38:
I believe Street might be right.

Anything Escrow is based on an agreement by business partners.
It's not sth they can just use without breaking agreement and probably triggering legal actions against them.

Actually, I get his PoV.

If ELLAH had ₦1.5bn, why not channel it into the business...

Streetinvestor2:
Bros e be like you get hang over.What is 1.5 billion to 250 billion they whr looking for.I think that money is gone It is suppose not to be refundable as they have failed to keep to thr part of the agreement ⁹

[I want to believe that] it was gotten from the Deposit for Shares... Note 20

See

Redoil:
if they have this amount of money then why the public offer