₦airaland Forum

myjoy08:
Dream on Sir...

Still dreaming

angelo82:
But I doubt it..................Seems positive news will be coming to Nigeria soon................

I hope so , make we cash out some money ..been a while

angelo82:
If it comes down to 5Naira,I will liquidate all my fixed income and buy because for sure we all know is coming up to 10 at least and that won't be a bad investment...........But I don't think this is going to happen before it will start moving up....................

Sir angelo82, u re really getting ready big time should fbnh get to 5 , lets see what will happen the next few weeks

Born2berich:
For those in First bank bus

http://www.pmnewsnigeria.com/2015/07/20/first-bank-plc-faces-money-laundering-charge/

First Bank Plc faces money laundering charge

this na small money , maybe this will make it go down to 5

FCMB Capital, FBN Capital, others secure $445m facility for Accugas

July 16, 2015 | Filed under: Economy,Investor | Author: Zebulon Agomuo








FCMB Capital Markets Limited, FBN Capital Limited along with some other financial institutions in Lagos, Wednesday, facilitated in the closing of $445 million syndicated medium-term facility for Accugas Limited.

Accugas, a wholly owned subsidiary of Seven Energy International Limited, is the gas processing, marketing and distribution arm of the Seven Energy Group.

The facility is to enable Accugas refinance its existing loan facilities and to meet additional funding needs. This will also help it achieve its overall objective of satisfying the growing gas demand from power plants and industrial users in Nigeria.

The other banks that provided the facility are Ecobank Nigeria, Union Bank, and United Bank for Africa.

Speaking with BusinessDay on the sidelines of the event, Tolu Osinibi, executive director, FCMB Capital Markets, said the investment bank was satisfied by the consummation of the deal, promising that despite the economic downturn that had affected its capacity to render huge lending assistance to clients, it would continue to do its best within the ambit of its capability.

“It is all about supporting a client that is actively making significant contributions to Nigeria’s energy space. The investment they are making in gas infrastructure is critical to the country’s energy development. And it has been said more often than not that one of the major problems we face in this regard is lack of gas infrastructure. That is what Accugas is doing. So, for us at FCMB Group, this is very exciting opportunity for us to support a company that has actually focused on Nigeria’s infrastructure development to boost energy,” Osinibi said.

Also, Kayode Akinkugbe, managing director, FBN Capital, said: “FBN Capital is very proud of the instrumental role it played in assisting Accugas to structure and arrange this financing for the Borrower. “The successful signing of this financing shows that lenders see the Accugas business as a catalyst for economic development in Nigeria.”

Commenting on the transaction, Bruce Burrows, chief financial officer, Seven Energy, said “we commend the professional and efficient work by the FBN Capital team, along with all other parties involved in this transaction. We are pleased to have partners who support our vision to bring gas to Nigeria’s domestic market for power generation and industrial consumption.”

Phillip Iheanacho, group chief executive officer, Seven Energy, described the transaction as a milestone.

“For us, it demonstrates the confidence that banks have in financing projects in the gas sector. To be able to develop domestic gas infrastructure and solve the problem in the power sector in particular, we need to be able to mobilise capital for project of this nature,” Iheanacho said.

Zebulon Agomuo

exclusiveoloori:
Hello house, I was told by my bank that there wasn't auction for 180days this week and that they will capture me for 180days against next week auction. Pls how true is this? Answer needed pls

Don't mind them , I got 180 days with my bank on the last Auction

[quote author=FranklinRich post=35913083]Anyone that believes what the CBN is saying can virtually believe anything. What do we expect him to say, of course they have to make Nigerians believe that they are doing their work.

I dnt know how long we can continue to prop up a currency that is a product of an economy that is structurally weak. The spread between the official market and the parallel market is over 20% (a perfect environment for round tripping) and we are still trying to prop up the Naira, using our already scarce foreign reserves.This defense of the currency by the CBN looks more like an Ego trip than any clear-cut policy.

In as much as I do not support devaluation because it has not really helped the nation in the past and I do not see any advantages for its implementation at this time, our economy is stuck between a rock and a hard place and sometimes somethings have to give for other things to fall in place.

The CBN is living in illusion if they think all is alright. If Emeifiele knows he is sure of what he is doing/saying let's just float the currency and let the markets(demand/supply) dictate what the real value should be.








Llets see how far CBN will go .. if they re able to defend the naira that will be good , if not time will tell

FranklinRich:
Ahh bros, you get mind ooo. You put your emergency funds inside this our Danfo market.

That is daring the NSE , had it been the bull won could have been a different story now

Its part of the game , that is why no one can predict the mkt

myjoy08:
Proverb 31:31. She can't do that...understanding and communication is the key...lol

I don use all money for emergency fund on stock I pray there won't be any emergency ..let the bull come 0

Chai !!!!NSE hard to predict , to get u na hardwork

..Getting ready for the bull ..on 08myjoy prediction

hazyfm:
WITHOUT THE FATHER'S BLESSINGS...


CHILDREN OF THIS DAYS!

Nice couple.. I hope the husband will not use this to Abuse this girl one day whenever there is a Mis-understanding btw them

angelo82:

mr Angelo82.. hope u dey follow the mkt sir , should we wait for Access @ 4.50 junction as usual or wait till 3.50 before $$ reach 250 and above that was what foreign investors wanted

9free:

Bullish Mkt no dey cause wahala , na bearish Mkt dey cause all these wahala/crankiness .. one day the Bull will appear and there shall be peace and happiness and all the pple wey dey argue will become buddy buddy again

[quote author=mercylicious post=35846997]This is getting personal.
We should not turn this forum to one were people are afraid to air their mind .




I totally agree with you M'aam everyone has the right to express his/her mind , but you [the dude ] have expressed ur mind once or twice about what you feel about the Mkt that's should be ok ..Saying it millions of times not too good , we re all adults here ....When you keep repeating then u re making them to feel bad , creating unnecessary Fear ..even if they had made a mistake Nagging too much not a good idea ..They can buy or not buy its their money

Access bank !

i think we should start selling since market is going down now

[quote author=angelo82 post=35638278]I will advice you stay away from that stock............Put your money in other stocks............UBA will touch 3something soon and we all know ACCESS,UBA,FBNH always recover very fast...............Low oil price will affect most oil companies till end of next year...............This is not the time to make money but time to acquire stocks with strong fundamentals at their lowest price which will guarantee making money after some months...........Access seems to be going up again but UBA is a great stock...........I bought the last time it touch 2.9,I sold it when it reached 5.60k............Anyone without cash will miss out completely on the opportunities...............I hope the bears will reach manufacturing stocks too...........[/quo

Yeah u re right sir , thats why its for long term investors .. I hope so ,what re the manufacturing stocks do u have in mind ?

Agreed , Oando is a long term thing

9free:
Buying FBNH in tranches since two days ago.
Hoping to buy enough to enable me become a board member

He he he , some of us will soon become board members very soon ..Na fight to finish , no going back /cutting losses ..before na fear go don trigger me sell ,but now i no shake
I don't think this fear go pass the one we went thru prior to election when some pple came here that Naija will be breaking and there will be political unrest /war
If uba for example could go as low as 2.90 during that time , i don't see it going below that and if it does we dey here

I do not understand what the MAN is saying , if u don't BUY in tranches now so when do you want to BUY ?

angelo82:
You should start buying from now.......I mean at every new low buy in tranches of different lows...........4.50k is the lowest Access can reach...........I think you should consider UBA more because bear has taken over and it may last till end of next week..............

Thanks sir, got today ..average down

angelo82:
I am buying and following...........I believe everyone is doing the same......This is the busy moment...........Hard to find these opportunities.........

Sir what do u think about Access bk at the current price ? I rem u mentioned might come down to 4.50

When bull comes back , everyone will stay , at the moment na just to pass by --Ayeoo

Mr angelo82 hope u re following the market sir

Investors see growing risks in devaluation delay

July 3, 2015 | Filed under: Investor | Author: Editor


International investors, dismayed by Nigeria’s decision to delay a naira devaluation they see as long overdue, will hold back from its stock and bond markets, raising risks of a deeper crisis in Africa’s biggest economy.

The afterglow from March, when Goodluck Jonathan handed over power after what was seen as Nigeria’s freest ever election, is dissipating as new leader Muhammadu Buhari shows little sign of following up on promises of economic reform.

Markets have moved sharply in the past week in particular after the central bank announced curbs on dollar funding for investors, as well as for importers of goods ranging from toothpicks to private jets.

The move, meant to conserve foreign exchange, has dashed widely held expectations of a naira devaluation – the central reform that investors had been banking on.

Since then 10-year bond yields have jumped 1 percentage point to almost 15 percent, stocks have fallen and the naira’s value is plunging in the parallel market, down about 7 percent from early June levels.

A devaluation to restore the economy to competitiveness is a matter of time, fund managers still believe. In the meantime, they are unlikely to bring back cash they pulled out before the election.

“It will take a combination of weaker currency and higher interest rates to get us back to Nigeria,” said Kieran Curtis, a bond fund manager at Standard Life Investments. “When we compare Nigeria to other oil exporters it hasn’t had enough of a currency adjustment.”

With oil exports providing 70 percent of budget revenues, Nigeria can certainly use a cheaper currency.

Most had reckoned on a 10-15 percent devaluation at least and some such as Curtis estimate a 20-25 percent move is probably needed.

The naira fell 20 percent in the year to February. Even so its real exchange rate, against currencies of trade partners and adjusted for inflation, is up than 50 percent in the past decade.

In real terms, currencies of oil-exporting peers Russia and Colombia are 5 and 17 percent respectively below long-term averages. African oil producer Angola also recently devalued its kwanza, which is down 15 percent to the dollar this year

And the price for supporting the naira is high – the central bank has spent at least $3.4 billion since fixing the exchange rate in February and reserves have fallen below $30 billion for the first time since 2005. http:link.reuters.com/huf76v

Devaluation expectations continue to mount. Non-deliverable forwards, derivatives used to hedge against future exchange rate moves, reflect expectations of currency weakening: six-month NDFs price the naira at 225 per dollar, while a week ago the forward price was around 215.

“To me, (central bank measures) are doing more harm than good: you are putting off the inevitable and the reaction you are seeing on rates markets and the NDF shows that,” said Kevin Daly, a fund manager at Aberdeen Asset Management.

“Effectively the bond market is starting to price in a much wider move on the currency.”

INEVITABLE

Curbing access to dollars may briefly stabilise reserves and constrict imports but pent-up demand for hard currency will eventually weaken the exchange rate and drains central bank coffers.

It may also stoke inflation if importers are forced to pay more for dollars. The naira trades at 230 per dollar in the black market, some 14 percent below the official rate.

With oil revenues down and borrowing costs rising, the 2015 budget is already 3.2 percent smaller than last year’s. By early May, the government had already exhausted half its borrowing allowance for the year.

Ten-year yields at almost 15 percent, 250 basis points above post-election lows, will raise borrowing costs for the government and the private sector.

“Ultimately (devaluation) will become more of a fiscal necessity than an external necessity. The longer they will take to do the adjustment, the bigger the adjustment would have to be,” said Antoon de Klerk, portfolio manager at Investec’s African Fixed Income Fund.

And crucially for investment flows, Nigeria’s place in the GBI-EM local currency debt index looks increasingly precarious.

JPMorgan warned in June it could eject Nigeria from its benchmark index by year-end unless it restores liquidity to currency markets in a way that allowed foreign investors to transact with minimal hurdles.

Nigeria has a 1.8 percent share in the $220 billion index, suggesting $4 billion in inflows, Morgan Stanley estimates, a major offset to its current account deficit.

“Were Nigeria to be removed from the index as a result of the dry-up in liquidity as forewarned by the index provider, upside risks to our naira forecast of 200-205 (per dollar) over the next 12 months could crystallise immediately, especially if one considers that its (annual) current account deficit could be up to … $10 billion,” Morgan Stanley said.

REUTERS

Not yet workin

Elai147:
Please let us try and be useful to ourselves. If na woman ask question u go see where BiTL dey answer at a faster rate and the babe go finally get more than one response. If na to shine our teeth e no dey hard us too.

Meanwhile, iTrade is now working

he he he

myjoy08:
...But he was wounded for our transgressions, he was bruised for our iniquities: the chastisement of our peace was upon him; and with his stripes we are healed (Isaiah 53:5). In this New Month, the good Lord we heal our land, family, business, career, and whatever that needs the healing of in our life. The glory of our latter shall surpass our former. Wishing everyone the best of the Best in this New Month of July. I pray for God's guidance in every journey we choose to travel in life. It is well with us all

Amen to that