₦airaland Forum

Nigerian brewery is getting ready for another uptrend.


For those interested

Agbalowomeri:
I see Oando @20

Any takers?

If you are interested, I can sell to you at 19 naira.

You must buy one stock this year

megawealth01:
Like WEMA like UNITY

Move wema to 30 naira.

26 is turning to resistance.

Mpeace:
Only N2 billion? That is half of Agba's portfolio

Which Agba are you talking about

For those concerned

PenCom raises equity limits for pension funds: what it means for NGX 30 stocks
You may have seen in the news that the National Pension Commission (PenCom) has revised the equity exposure limits for several pension fund categories.
The decision is expected to ease constraints that had limited how much pension funds could invest in shares.
The revision, announced on February 9, 2026, takes immediate effect and applies to all licensed Pension Fund Administrators (PFAs) and custodians.
PenCom amended Section 9 of its investment regulations, increasing equity allocation caps across multiple Retirement Savings Account (RSA) fund classes:
• RSA Fund I: 30% → 35%
• RSA Fund II: 25% → 33%
• RSA Fund III: 10% → 15%
• RSA Fund VI (Active): 25% → 33%
In simple terms, pension funds are now allowed to hold more equities than before.
Why PenCom made the change
According to the Commission, the revision is a targeted response to implementation bottlenecks identified after the 2025 regulatory overhaul.
In practice, here is what that means.
Equity prices performed strongly over the last two years. As a result, several pension funds—especially Fund II and Fund III, which hold the bulk of contributors’ assets—were approaching or breaching their regulatory equity ceilings.
Once that happened, PFAs were forced to rebalance portfolios, often selling equities not because valuations were stretched, but because regulations left them with no choice.
So, rather than allowing regulation to become a drag on portfolio performance or market stability, the Commission opted to reset the limits to reflect current market conditions.
Why NGX 30 stocks are first in line
When pension funds deploy incremental capital, they do it slowly, conservatively, and at scale. Their buying playbook will likely prioritise;
• large market capitalisation
• deep liquidity
• consistent earnings
• strong governance and disclosure
In practical terms, the combination above describes the NGX 30—the most liquid and systemically important stocks on the Nigerian Exchange.
So when new equity headroom opens up, NGX 30 stocks are the path of least resistance.
Even on conservative assumptions, sell-side estimates suggest that hundreds of billions of naira and potentially close to ₦1 trillion could find their way into Nigerian equities as PFAs gradually utilise the new limits.
This matters for two reasons.
Firstly, unlike hot money Pension inflows are patient, price-insensitive over short horizons and structurally anchored.
Second, this kind of capital tends to support sustained re-rating, not one-off spikes. It deepens order books, absorbs supply, and raises the floor on pullbacks.
That’s very different from episodic foreign portfolio inflows that can reverse just as quickly as they arrive.
Why timing still matters
Pension funds do not announce their buying plans so it may be hard to predict what they do next. However, they accumulate quietly and methodically, often before headlines catch up.
By the time trading volumes visibly expand, NGX 30 names start breaking multi-year valuation bands, and analysts begin revising target prices upward, a meaningful portion of the repricing may already be done.
This is why early positioning matters as we have to take positions just in time.
What this means for market leadership
If pension-driven inflows begin to materialise, leadership is likely to remain concentrated in:
• Tier-1 banks
• large consumer names
• systemically important industrials and energy stocks
• dividend paying stocks
In other words, the NGX 30 does not just benefit first it often sets the tone for the rest of the market.
Once those stocks re-rate and liquidity deepen, risk appetite typically trickles down the cap curve.
Finally, it looks like the stars are circling for another bullish 2026.

STNWAUME:
Why not say you were trapped in UNITYBK

Which stock is good to buy now?

Any recommendation?

https://moneycentral.com.ng/exclusive/article/access-banks-n245bn-bidvest-takeover-fails-on-poor-credit-profile-as-south-africa-ambitions-unravel/



So access bank even have poor credit profile.

iHaveMadeiT2:
For new comers, just a note of caution. Except you're already in the bus, this is generally not a buying season. If one is not careful, FOMO can force you to jump in at an ATH price and you may find yourself left stranded for months

You never can tell, this may just be the beginning of upwards trend.

Just know your risk appetite.

Starpro87:
Hi, good day.

I funded my Investnaija account, hoping to invest in Aradel holdings.

System is telling me insufficient fund to buy stock, whereas I allegedly have sufficient funds there.

Please what could be the issue, or is there something I'm not getting right?

Please do well to reply to my inquiry.
Thanks in anticipation.

It is better you open an account with Morgan capital or Atlas.

I don't know much about investnaija.

Ginalex:
No amount of sugarcoating/sweet mouth fit make me reason Accesscorp.

Those buying believe the large assets the bank has will pay off in the long run.

Only buy access bank with patient funds.


I prefer wema bank to access bank.

emmanuelewumi:
You better sell. Highly disappointed with their result

Are you for real?

I believe you are joking.

yMcy56:
Lol. So plenty people dey interested....😁
**Abeg DD is adviced ooo**

Well, it's a common stock here: CHAMS

* My interest is based on this court judgement
https://doclib.ngxgroup.com/Financial_NewsDocs/45964_CHAMS_HOLDING_COMPANY_PLC-CHAMS_HOLDING_COMPANY_PLC_-_NOTIFICATION_OF_COURT_JUDGEMENT_CORPORATE_ACTIONS_FEBRUARY_2026.pdf

** This case has been between CHAMS and MasterCard since 2006/2007.......
** MasterCard betrayed CHAMS....
** CHAMS sued for damages and it's looking like fortune may smile on CHAMS.....
** $360M suit filed against MasterCard by CHAMS in respect to NIMC deal

I sincerely hope it eventually favours CHAMS...
Although Court now affirms arbitrar award issued in favour of CHAMS.....

We see how it goes....😊

For more info: https://www.tekedia.com/the-nigerias-chams-plc-360m-suit-against-mastercard-ajay-banga-etc-on-nimc-deal/?

Same charms I bought at 2 naira and disposed like it's nothing.
People that held have enjoyed right issue at 1.7 and price is still flying .

I remember Loco trying to sell his rights and someone was pricing 1 naira.

Let me just hold my TANTALIZER and Aradel.

Sunrisepebble:
I think that’s what’s driving the price because I wasn’t that impressed with the result

I heard they have other businesses whose earnings were not included in the current financial report. It is written the the last financial report they published (I didn't read it )

NAHCO has more room for growth.

Stockpromoter:
Many stocks Loco pointed out in the past have rewarded massively today.
Back then, people dismissed them as junk, dead, or stocks without numbers.
Fast-forward to today:
Some of those same stocks are up 300%, 400%, 500%, even 700%, with numbers now improving clearly.
Names like NPF, RT Briscoe, Multiverse, TIP, Champion, SCOA, NCR, FTN Cocoa, Caverton, etc., were all once mocked. Today, the market tells a different story.
📌 Lesson:
The market doesn’t reward popular opinions. It rewards early positioning before fundamentals turn obvious.
Today, Loco is not relenting on insurance stocks—and for good reason.
Right now, the insurance sector is in a balance-sheet strengthening phase, not a price-appreciation phase. This is exactly how opportunities look before major repricing.
🧠 What’s happening now
Capital strengthening
Recapitalization pressure
Cleanup of weak players
Foundations being laid, not hype
📈 What comes next After recapitalization:
Some insurance stocks will trade above ₦70
Some will reprice to ₦20–₦30
Others to ₦10–₦20
Those that cannot meet recapitalization requirements will merge or be bought out.
Those that meet and exceed requirements will emerge far stronger, and prices will reprice violently upward—the same way many “dead stocks” did in the past.
⏳ This is the positioning phase, not the celebration phase.
By the time the numbers look perfect and the crowd returns, the easy money is gone.
Take position early. History is repeating—only the actors have changed.

Noted with thanks

nosa2:
Based on what metric?

Better performance
Steady growth

mikeapollo:
My concern is not even about the incoming results, but market common-sense. I rather buy 2 units of Access Bank against 1 unit of UBA.
Access can easily give me a 50%-100% gain in few months, all things being equal, even if the incoming results are not too fantastic.

Wema Bank is a better deal.

essentialone:
Wema Bank may likely hit a new ATH price before the end of this week. Watch it closely...

We are waiting ✋

emmanuelewumi:
Revenue of less than N150 million in 17 months, admin expenses of N1.2 billion. Admin expenses is higher than revenue.

Operating loss of about N1.8 billion

Agbalowomeri, what's the fair price of ellahlakes?

Wema Bank 24.95

Access bank 22.75


Once wema bank breaks above 25, 30 naira is the next target.

Some people on this thread just hate money or they pretend to. 😒

How will someone invest his hard earned money and be comfortable with no capital appreciation after many years in the market 🤔

Stockpromoter:
Why Royal Exchange Plc should NOT be sold at current panic prices
1. This price already discounts bad news
At ₦2 and below, the market has over-punished Royalex. The FY 2025 result is not a loss, yet price action behaves as if the company collapsed. That’s classic panic mispricing.
2. Shareholders’ funds are STRONG and rising
Shareholders’ funds ≈ ₦7.2bn, up about 15% YoY.
Markets may panic short-term, but balance sheet strength always wins long-term, especially in insurance.
3. Royalex is NOT insolvent
Total assets ≈ ₦12.16bn.
No liquidity crisis. No balance sheet hole. Selling now is selling a surviving company as if it’s dying.
4. Earnings slowed, but didn’t collapse
PAT ≈ ₦924m.
Yes, down YoY — but still profitable. Panic selling profitable insurers at book-value territory is historically a mistake.
5. Recapitalization favors balance sheets, not emotions
Insurance recapitalization will reward companies with existing capital base.
Royalex is not starting from zero, so dilution risk is lower than weaker peers.
6. New chairman = strategic reset, not coincidence
Board changes at this timing usually signal:
Balance sheet defense
Capital strategy
Corporate cleanup
You don’t sell before strategy shows — you sell after execution.
7. Panic sellers are giving smart money entry
Volume drops + weak hands exiting = accumulation phase.
Institutions and patient traders buy fear, they don’t join it.
8. Insurance stocks reprice suddenly, not gradually
This sector doesn’t trend slowly.
It sleeps, then reprices violently on:
Q1/Q2 earnings
Recap clarity
Sector rotation
Selling now risks missing the entire move.
9. Book value vs market value gap is wide
At these prices, Royalex is trading close to or below fair balance sheet value.
That’s not where you sell an insurer — that’s where you accumulate quietly.
10. Nothing fundamental justifies “rush exit”
No loss.
No regulatory breach.
No going-concern warning.
No capital wipe-out.

Market must react to the result.

There are better bargains in the market right now.

I will start buying when it gets to 1.8

crownprince2017:
Na access no allow am move it's just a matter of time...once access releases their results, everyone will know where they belongs to.

If access releases a better result both will move but if otherwise, wema will just over take just like she does to fcmb last year.

Any either ways, wema will benefit.

I think it's just market sentiment.
Wema is not a popular bank.

I am sure many have not even looked at wema bank's result.

mohbadliveson:
Wemabank 23.65
Accessbank 22.55

How can one explain this economics abracadabra?

Wema Bank is not getting its deserved attention.

That stock should be on full bid.


Excellent result from Wema Bank.

ppogba:
Make you no spoil market for our major distributor on Nairaland hawking ROYALEX oo.


Which kain thing be dis nao?

The stock deserves some beating


We can always buy lower.

If you have Royalex, there is still room to exit before it goes into full offer.

Stockpromoter:
Your observation is good but let's look at the summary of the result first 👇
Royal Exchange Plc – What to say about the latest result (with conviction)
1️⃣ Royalex did NOT record a loss
The company remained profitable. There was no loss, no capital wipe-out, and no negative shock in the numbers.
2️⃣ Profit softened, but capital was protected
Earnings were lower than peak expectations, but shareholders’ funds improved. Management prioritised balance-sheet strength over headline profit.
3️⃣ This was a capital-preservation result
No aggressive underwriting, no risky income booking, no cosmetic profits. The focus was stability, not show.
4️⃣ EPS looks weak mainly because of large share count
With 8bn+ shares outstanding, EPS will always look small. That does not mean the business collapsed.
5️⃣ The result keeps recapitalisation optional
Nothing in the numbers forces:
emergency capital raising
distressed pricing
regulatory panic
Management still has time and flexibility before the July 2026 deadline.
6️⃣ This result is recap-aware
The numbers were prepared to satisfy regulators and auditors, not to excite short-term traders. That is typical when recap decisions are ahead.
7️⃣ It sets a clean base for Q1 and Q2 2026
With a stable base, any improvement in Q1/Q2 will show clearly and strongly, which supports rerating.
8️⃣ No dividend talk is deliberate
Avoiding dividend pressure helps retain earnings, strengthen capital, and improve recap positioning.
9️⃣ The market is unlikely to punish the stock
There was:
no loss surprise
no balance-sheet damage
no forced dilution
Flat or mixed trading is normal digestion, not rejection.
🔟 Silence after the result is strategic
Boards planning recap usually fix the numbers first, then communicate strategy. February–March is the key window for direction.
1️⃣1️⃣ Bottom-line summary
This is not a sell result.
It is a hold-and-watch result that preserves upside and reduces downside risk.
1️⃣2️⃣ Why conviction holders are calm
Capital protected
Recap options open
No dilution forced
Upside still intact

How do you think they will raise the required capital needed for recapitalisation?

I noticed the strategic investment in low risk ventures like real estate, treasury bills, commercial papers and full divestment from stocks.
2026 q1 financial report will make things clearer.

The market may react negatively to this result.

essentialone:
In Account metrics, what is the implications of this?

I can't really say.

Are you loaded in Royalex?

essentialone:
Perhaps Royalex also used Weighed Average Outstanding Shares in their EPS calculations?

Yes

essentialone:
Please, how is the EPS of Royalex 0.22, when it's Profit is 924 Million and it's Outstanding shares is 8.27 Billion units?

0.22 is the weighted average. The fully diluted eps should be 0.11.
4.13 billion shares was used for the calculation.
The outstanding shares increased to 8.27 billion after the right issues.

I don't really understand why they used the previous outstanding shares even though right issue was in 2024.

essentialone:
What is the present EPS of Royalex Plc. N0.22 or N0.11 ?

0.22

Last year was 0.30



Overall, the company made significant improvements in key areas like

Free cash

Retained earnings from 939 million deficit to 4.8 million surplus

Investments eg real estate, treasurybills and corporate papers with full divestment from equity

Share of profits from associates

Assets

Total equity

No significant borrowing

Aggressive loan write-off of 229.4 million reducing impairment significantly

Administrative expenses reduced by 4.5%

PropTrader:
Well, the figures are in and RoyalExchage underperformed. Although it chose to report only year to date figures, if you compare the 12 months PBT of N924m to the nine months figure, you wil deduce that it made a loss of N561 in Q4 2025 which is no where near the N1 billion you projected.

I am not sure of what will push prices up in the short run the way you expect as the NIIRA act effect seems to have cooled and the uptrend in NGX also seems to be selective for now.

With current shareholder funds of only N7.6billion, the company will need to look for new capital within the next 5 months to re-capitalise the following subsidiaries

- Royal Exchange General Insurance: Minimum capital specified by NIIRA is 2025 N15 billion
- Royal Exchange Prudential Life: minimum capital specified by NIIRA is 2025 N10 billion
- Royal Exchange Microfinance Bank: CBN minimum capital for different categories of MFBs range from N50m to N5 billion

This company is prime candidate for merger, or acquisition or massive RI/PO/PP to raise at least N17 billion before July 31, 2025.

17 billion is quite large.

The best bet should be merger or acquisition.