₦airaland Forum

mikeapollo:
It is bad for Oando to delay or default in releasing its results, but that does not mean that its shares would be suspended from trading just immediately. The NGX does not necessarily operate this way.
There are other administrative penalties and remedies.
The unaudited reports for FY2023 had already been published, so technically only HY2024 is outstanding.

I am not making excuses for Oando, they must be held responsible for these delays and investor uncertainty.
However, sometimes, an inefficient external audit firm can also cause delays in finalizing the audited accounts thereby creating problems for the company.
My own organization is a victim of such inefficient external auditors. We used to finalize our accounts within 1 month after our financial year. We have done this for more than 15 years. A new external auditor (one of the Big 4) took over, they offered and agreed to prepare the accounts, but it took them almost 3 years to finalize the accounts for FY2020, because they were experiencing a lot of staff turnover (Japa).
We are currently finalizing our accounts for FY2021 and in arrears for accounts for FY2022 and FY2023, something that was never heard of before the new auditors took over. The previous auditors ( a Big 4 too) were far more efficient than the new one.

But Oando needs to be more up and doing with their audited accounts. These delays have serious implications for many stakeholders, especially investors

Raider76:
Our Nigerian market regulators are not that brave.

TsarZed:
How do you know this, market markers view?

naturalflow:
Nobody hides a fantastic result?should we be scared?

Sunrisepebble:
How do the solve the negative equity is my question

Mpeace:
Some pple don dey get BP as them dey wait for oando.
E no easy to hold that stock.
Thats why they say oando is not for everyone.
If you no get mind abeg buy amlodipine for ur BP.


May the result favour all of una wey dey inside.

Raider76:
Don't worry. Up until coming Monday Morning is still 23rd. It depends on the date NGX enters as the official date of announcement.

vefexam:
At what price did you buy them at NASD

yMcy56:
UBA closed strong .....
Closed @28.40!
Up with N1.40k!

ZEE also shake body today...

GeeKudi:
Really?? Can imagine the feeling of helplessness.

What level of inefficiency is playing on with your broker?
Chin up, man 💪🏻

undead:
Hahaha, my collegue Abdul-'Alim say, no warri.

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Mpeace:
Result should be out tomorrow, right?
Meanwhile UBA just landed.
Make I go settle pple wey I dey owe

RodgersAkpafu:
They are not a scam
Their system is just......
Somehow

So lemme explain it in simple terms

For every asset on an exchange, there is the bid section (how much people are willing to buy) and the offer section (how much people are willing to sell)

So the highest bid price and the lowest offer price is always not the same
the highest bid price will always be lower than the lowest offer price (well most of the time)

the difference between the two is what we call the "spread" in finance

In some sectors, the spread is very small (eg banking stocks, you often see 50k to N1 gap )
some other industries it is much wider
Because Bamboo operates on the market buy Nd not limit buy/sell, what they do is as below

WHEN U WANT TO BUY SHARES. it will go and pick the offer price available there, which is always higher than the highest bid rate....

WHEN YOU WANNA SELL, it will now go to the bid side and pick the highest possible bid (the available one)
And like I said earlier, the highest bid will almost always be lower than the least offer price

That's why it appears that bamboo is cheating

The limit buy/sell function is mot there yet for some reason best known to them.

To circumvent this, you go for brokerages that allow you to exercise limit buy/sell function
meaning you buy or sell at your own set price, and the if the market doesn't accept your price, your trade fails

Thats why Bamboo trades don't fail
they pick the market price
but limit buy or sell can fail

Hope I didn't confuse anyone

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ojeysky:
Looks like over 1bn was traded on champion today Abi meristem app is acting up ni

Mpeace:
On LSE website and on Google they are listed as one of the subsidiaries of seplat.
Just google seplat subsidiaries

Health3:
UBA is a stock determined to challenge GTCO for the top position in the nearest future. This is SA but watchout

Yemy3m:
watch out for belemaoil .planning to list soon .maybe ngx or otc

Sunrisepebble:
Everyone waiting for Aradel below 500 200k units traded, 8.5m offers

yMcy56:
Oyel 💰 😁

mikeapollo:
Hi Prophet, I know you are speaking in parables and did not mention the name of any stocks.
But I would advise that we avoid badmouthing or demarketing any stocks. Let us focus on revealing the stocks that we believe can do well like you did with Oando.
But it is not the best to say that a particular stocks shall collapse.
Let us avoid the negativity because peoples' money and investments are at stake, and that brings some legitimate sentiments and emotions. Just keep quiet if you do not believe in a particular stocks