₦airaland Forum

Ades1:
You're wasting your time with these people jare. In here, I am the biggest Naira advocate but even in my sleep I can see the game the CBN is playing with this dollar thing. They're literally playing the same game Emefiele played and lost. That $$ they borrowed to sell to BDC will finish then what?

I have never exchanged my naira for Dollar EVER, but that is about to change.

If you're asked to clarify the supposed game now, you might vanish like the person before you. It seems like a half-baked pseudo-economist proposed the subsidy and borrowing money to sell to BDCs narrative that you are parroting; you all should think independently. To aid your thinking, the total sales to BDCs were approximately $15 million per week* (assuming it's weekly), while the daily turnover of the FX market stands at $200 million. Hopefully, this provides some clarity.

toyeoye:
The problem is you think we are arguing or debating. Please remove yourself from the hanger for God's sake

Up to this point, I have not countered your claim; I have simply requested that you provide the source of the information you are putting forward.

toyeoye:
On me? Okay hold on compatriot, I dey come

Thank you, and please don't leave us hanging.

Believeintruth:
Oga stop being evasive show us the current portfolio of blackrock i dare you to do it.

Where's the evasion? My initial response highlighted that companies operate within specific countries, each with its own unique risk profile.

toyeoye:
Make a point or DYOR

It's on you to back up your claim by explaining the reasoning or research behind it.

The information available publicly doesn't align with your subsidy claim, so provide evidence by specifying the exact subsidy amount, recipients, and providers.

toyeoye:
FX sales to BDC
Few days ago, N17bn was paid as subsidy for PMS imports on our behalf

Alright, if you consider FX sales to BDCs as a subsidy, how much is this subsidy worth?

Could you share a link that supports the existence of this N17 billion fuel subsidy?

Believeintruth:
I didn't say investors i said BlackRock, i dare you to show me any BlackRock's portfolio that includes countries.

What kind of reasoning is this? Isn't BlackRock primarily engaged in investment management?

iHaveMadeiT2:
Dangote sugar and salt don show person pepper

too much pepper

IYGEAL:
You don't know that billions are being paid as subsidies for these things?

I do not know Please explain

IYGEAL:
You don't know that billions are being paid as subsidies for these things?

I don’t know pls explain how subsidy is being paid? To who ? By whom?

toyeoye:
The market is unfortunately not yet flooded.

You're right, oil and gas is 89% of our exports o. If action is not taken and CBN keeps paying subsidies on FX, it will go back up sooner or later.

I'm not holding my breath

what do you mean paying subsidies? Please explain

osothermal:
not being half smart bro, in the first place most people wouldn't want to 'japa' if our economy/currency was Great like in the 70s to 90s,secondly for me before I Invest in another country, I'll make a massive investment in my country , so I must convert to naira.

This is why I stated they are only half-wise: while the amount they receive increases with the depreciation of the Naira, the real purchasing power decreases due to rising inflation, worsening poverty. Hence, if they contemplate the long-term value of their money and the nation's welfare, we should all support the appreciation of the Naira.

Believeintruth:
Oga if it is Blackroack dem no go look Nigeria even if it is with the longest pole in the world Ogunlesi's visit was not because of Blackrock let us stop the propaganda and lies.

The truth is that you are making an assumptions same as those who you are accusing of pushing propaganda neither of you is fully aware of the subject of discussion or reason for the meeting.

I was only responding to your erroneous assumption about investors not giving a hoot about countries.

osothermal:
If you're a single, 2k pounds? You be odogwu. You can rent a shared apartment bills inclusive for £300 to £500. £200 is enough to feed and other minor expenses. Convert the remaining balance of £1500 to £1200 and shout hallelujah

Why do you need to convert? I think this is why most disaporans are happy whenever the naira depreciates but they are only being smart-by-half.

Treadway:
many are mad, few are roaming.

Driver - at least 60k salary
Maid - at least 50k salary
one Other domestic staff - at least 50k
Oga boss balance after above expenses- 40k

So oga boss is left with 40k to feed himself and fuel his car for that month? Allen must have just received a Mouth Gig before going on air. His brain never calibrate.

This is quite funny. Do you know much you need to earn to afford all that abroad? domestic staff

Believeintruth:
Oga stop being an Otimkpu, he sold his company to black rock doesn't mean that Blackrock is the one that came to see Tinubu. Haba make una cool down with this BS. BlackRock invests in companies and not countries

I agree with you although companies don’t exist in isolation. In risk analysis the country the company resides in is quite important. For example country’s credit rating determines the cost of capital; that is either debt or equity providers will require higher interests when investing in Nigeria compared to say UK or Germany.

mrvitalis:
Question is what's the demand?

What demand are you referring to? Is it possible to have turnover without any underlying demand?

mrvitalis:
Lmao which machine can you buy for $10k dollars Lmaooo

Mere palm oil refining factory would set you back $500k minimum, if you include mayonnaise and butter factory to use up the by products you are talking $1 million to $5 million for its basic level

Smh small minded people

Are you aware that the daily turnover in the foreign exchange market is currently $200 million? Your $500,000 amounts to less than a quarter of one day's transaction turnover.

Harrykn:
200k
What’s your location?

best price?

ShoeGetSize:
These people and stupidity sha.

Binance, is a cryptocurrency exchange, not a bureau de change.

It doesn't have an official headquarters anywhere in the world. Instead, it is virtually headquartered at 23 Lime Tree Bay Avenue, George Town, Cayman Islands, and has 53 virtual office locations around the world. 

Binance operates as a decentralized organization that doesn't require a registered bank or postal address. For example, former Binance CEO Changpeng Zhao has compared Binance to Bitcoin, which also doesn't have a physical office. 

You will have to mention what aspect of your outdated Company Income Tax Act (CITA) allows the Federal Inland Revenue Service (FIRS) to collect tax on the virtual international trading of crypto currency pairs on a platform which is what Binance does.

They tried this nonsense with Twitter and failed, so they know that they are doomed to fail in this venture as well. At this point they're just engaging in optics to please their gullible followers.

Interesting but twitter does not have anything to do with the money of Nigerians does it?

KarlTom:
The Johannesburg Stock Exchange (JSE) is a prominent stock exchange located in Sandton, Johannesburg, South Africa. It serves as a vital platform for both local and international investors seeking exposure to the leading capital markets in South Africa and the broader African continent.

Here are some key details about the JSE:

Address: 1 Exchange Square, 2 Gwen Lane, Sandton, 2196
Phone Number: +27 11 520 7000
Operating Hours: Monday to Friday, 9:00 AM to 5:00 PM

The JSE offers secure and efficient primary and secondary capital markets across a diverse range of securities.
It is currently ranked as the 19th largest stock exchange in the world by market capitalization and is the largest exchange on the African continent.
The JSE has a rich history, having been formed during the first South African gold rush in 1887.

If you’re interested in exploring the companies listed on the JSE, you can find detailed information about 354 listed companies, including their share prices, market caps, sectors, and announcements. Some notable companies include BHP Group, Anheuser-Busch Inbev, Richemont, and Naspers.

I am probably wrong I got that information from this site: https://afx.kwayisi.org/jse/

thebargainhunte:
There is correlation between NGX capitalisation and Nigeria GDP. Increase in GDP will have positive sentiments in our market. I don't really have the data to back up my claim, but I attached two images in my post, one is NGX capitalisation history while the other is our GDP history. I think that data would give one insight on how our GDP is correlated to stock market capitalisation in dollar. I don't quite agree with listing more companies would solve the issue, I am of the opinion that our valuation of stocks in Nigeria is very poor, hence my stand that we have undervalued market. Take a look at Standard Bank Group of South Africa for example, the market price is 18585 Zac which when converted to dollar, it would be around $18515 per share. The same money when converted to naira would give one about 18 million naira per share. Imagine this stock was listed on NGX,people would not near the stock cos to them it is overpriced stock. The outstanding share of the company is about 1.67 billion shares, then compare that with our Zenith Bank that is trading below #40, that is 450,000 times. Zenith has presence in other countries as well. What our companies do to have a big market capitalisation is to increase their OS while the price remain cheap. Imagine Dangote Cement having OS less than two billion, do u think people would price it above #2000? These billionaires understand Nigerians very well and that is the reason they are having bloated os in their companies. A bloated os will dampen the share movement because of too many jijoist.I understand that there so many metrics which helped Standard Bank Group to achieve that feat which is not limited to secure currency, trust people have in their security exchange or what ever, government policies and security of lives and property in the country etc. These are some of the metrics that would help fpi to come into our country, and their presence drives positive sentiments. Dangote will not try listing his refinery with OS less than 10 billion cos he knows that nobody would price his refinery above #10,000.

Culture influences economic behavior. South Africa has over 400 listed companies, while Nigeria has just over 100, which is relatively low for its economy size. Encouraging and incentivizing companies with annual revenues exceeding N100 billion to list can enhance transparency, benefiting all stakeholders in the long run and the general populace.

PS: Standard Group is about $1K not N18m

vacanci:
the problem is one can get trapped.

Imagine those investors in Multiverse who have been trying to come out for the past one month. total traded value yesterday from 6 deals only was N21k. You spot opportunity elsewhere and want to sell multiverse to key into such opportunities just like when MTN got to N180. Multiverse trapped you inside.
Yesterday also, Champion breweries, only 3 deals with total value of around N5k.

Look at McNichols, after the price went up many days and hit the top, coming out was a problem until it went back to where it started from before we started seeing bids.
Mecure has trapped investors wanting out as we speak. remember how it was flying high and jumping 10% daily for weeks. Yesterday's total traded volume was just 21k

so many stocks like that will do people shege.

Climbing up is not the problem but when you want to come out, it's a big problem especially when you are invested with huge fund.

my advice to penny stock wannabe investors is to use penny amounts to buy penny stocks. Imagine someone queuing up very early trying to sell about 1M units of Mecure or Multiverse. it would take more than 2 weeks of others waiting if the 1M guy gets in front everyday.

I learnt my lesson when i tried to jump out of one penny stock with N800K value to invest in an opportunity elsewhere. i remained trapped while the other stock which was a highly liquid one made 30%. As i speak, i am still trapped but the paper value has gone down drastically by about 50%.

As for me, i learn't my lessons

I am stuck with multiverse hopefully I can exit soon...

thebargainhunte:
Check USA total stock market capitalisation and you would see that see that the capitalisation is about 49 trillion dollar while the GDP is about 25 trillion dollar. Stock valuation has no direct impact on GDP because we value stocks base on sentiments, sectors and country etc. Sometimes when the market capitalisation is greater than the GDP it means overvalued stock market, but we can have market capitalisation that is greater than the country's GDP. GDP is goods and services produced in a country in a year,it means that the goods and services produced by those companies that make up the stock market in a year cannot be more than the country's GDP in that year.

Thanks! A more appropriate comparison would involve national wealth or household wealth in relation to stock market valuation rather than GDP.

https://en.wikipedia.org/wiki/List_of_countries_by_total_wealth

Agbalowomeri:
What is the valuation of Bitcoin? Where is the GDP supporting Bitcoin valuation?

I believe that the value of Bitcoin is determined by market forces and scarcity. It is my assumption that the valuation of Bitcoin cannot surpass the total value of its holders.

Believeintruth:
There was a retail bid by the CBN to settle outstanding FX issues. that was the reason for the slide in FX rates, this has made a lot of USD in circulation which has pumped down the dollar value. This is still a short term measure.

Please can you explain what you mean by retail bid? when & where? any links?

thebargainhunte:
Never in the history of Nigeria has everything skyrocketed in price as we presently have. Everything is increasing in price, yet some people are complaining high price of stock market. Our market capitalisation is still below Egypt and South Africa market capitalisation. Una tink sey 1 trillion market capitalisation na child's play.

I cant fathom why the south african JSE has ASI value close to a trillion dollars yet the nation's GDP is less than $500B.

Nuzo1:
Uncle Dele is a media personality and influencer.

They usually have over 8 original and fake accounts of the same app they use in manipulating and influencing the public interests.

For example, the first 8 comments on this thread could be Uncle Dele, but with different different accounts and views. He doesn’t need to be signing in and out. All the phones have their own fake accounts.

casting

tefishy:
Well, guess we can agree that the policy is a failure even before it commences

Increasing access to education through loans will result in a growing demand for skilled individuals in the education and related industries over the short, medium, and long term. This increased workforce will contribute to a decrease in the number of individuals unemployed or wandering the streets. It is crucial to advocate for this impactful policy and focus on revitalizing the educational system to ensure that graduates are prepared to be productive, creative, and innovative contributors to society.

tefishy:
I agree with you that education creates job, but that knowledge is a waste if there is no support or an enabling environment.

You should already know by now that there are already many graduates roaming the streets

And you do not think the numbers of those roaming will reduce with this policy?

cadmanspize:
Clueless tinibu up-surged it by 100% in figure but down-surged it by 300% in value totalling 200% down-surge. (500# equal 1$ vs 500# now equals 0.3$)
.
You can only trick your fellow corn infested emilokans who agbodo have incapacitated their comprehending capabilities... Such deceitfull lies does'nt sale here.

FYI our currency is naira not $—-the recurrent expenditure of the of which a huge component is salaries & wages has stay same despite the 300% reduction in value as you claimed. The governors should pass on the increase to the people via interventions and projects to improve living conditions.

One more thing when you throw insults around as you’ve done it’s tell more about you, your parentage & values if you any.

aj8:
Risk of too much drama. May eventually hurt Access

1. Ex CEO/MD vs incumbent CEO/MD
2. Ex Chairman on the same Board now as Director
3. Co-Founder mentality. Will they breath?
4. Apparently nil succession plan.
5. Probably a fire brigade response aimed to build investor confidence.

Let’s see how price would react after earning results.

What if the Current CEO & Ex-chairman are merely placeholders