₦airaland Forum

sophy17:
@ Peterpoor, you seem to forget that some countries do not have oil and yet have done very well for their economy. Even Nigeria was once an example.Just as I believe our leaders got it wrong the moment they abandoned all other avenues. Let oil sell as low as 1 dollar per barrel, Nigeria can be great if we have committed leaders and followers. Of course not someone like you, either as a leader or a follower. No wonder you have thrown all hope for your motherland into the dustbin as evident in your persistent call for naira devaluation. I don't think and I have never heard or seen an American, Briton or someone from a developed country regardless of his status, rich or poor, young or old, illiterate or educated, think, imagine in his mind or canvass and clamour for devaluation of his countries currency. The reverse is the case here and that's what is worrisome to me. Ask yourself how many times we have been told to devalue as a way out and yet they still come back and sell the same story.

Countries actually devalue their currency if it confers some advantages over currencies of competing economies. For example, by devaluing your currency, it spurs investment and can be used to jump-start a hailing economy. The Chinese government devalued the Yen some months back making it much cheaper that the Dollar. There were fears that a currency war might ensue but thankfully, it was not to be.

Bear in mind, that I do not think devaluation in itself is the solution in Nigeria case. Hence my support for the stance of the FG. It would be the last thing we do after plugging loopholes and drainages in our economy rather than allow currency speculators like Peterichy exploit the situation for their selfish gains.

At Peterichy; I know say, you no dey quick vex. So make you no vex o. I dobale.

AkinadeDare:
. Does this mean Evansmed will stand the test of time? when it still meets WHO's requirements recently, and having known its dominance before in the industry. Your opinion on this, since 2014 result has nt been released................

It remains to be seen how these companies will exploit the opportunity presented to them on account of the WHO certification. All I know is that they need fresh capital to maximize gains from the WHO certification. Most of them are in dire need of fresh capital due to their heavy debt profile.

Watching M&B and Evans, the listed ones that are readily available. The news is actually stale and the market didn't respond when it broke.

The Agric sector is doing well. Okomu Oil and now Presco posting good results. Government policies and drive are huge incentives. Can the likes of Livestock and FTN Cocoa exploit this opportunity?

Elai147:
It will be good, to protect investors. They should have long suspended Oando for consistent delay in releasing their results.

I don't think it warrants a suspension according to the rules governing listing on the NSE but a FINE.

Elai147:
Those blaming Myjoy for thier failure should hang their heads in shame.

They are the same folks that support his buy mandates and fend off any queries to his recommendation. It's a complex relationship. They'll sort themselves out.

Kagame:
Myjoy,why reply with another moniker but refer to yourself in the third person?

I told you all, he never left the forum.

@Myjoy08/Myjoy084/Godisfaithful, on a more serious note, you need to reevaluate your style. How a serious investor will only scream buy buy irrespective of price, technicals, fundamentals beats my imagination. It just doesn't make sense to me (no offence, please).

EDUECO:
Sir,I am acting as a disseminator/invigilator of this illustrious 'fold'! With respect to the Diamond Bank Q3 2015 result,it is well even in the well;Q4 2015 result may be okay( buy more of Diamond Bank shares, just like our defunct legendary Myjoy used to say).

What more can I say? It is well noni. As per the bolded, thanks but no thanks.

Josh121:
Looking for investor in my 200 acres oil palm plantation so if you interested hit me up

When you are big, you are big. I hope you haven't been catching trips with any member of the first family.....Uncle Wale style.

Mr Edueco........releasing results for us to digest You no even send us......you don work for WAEC before? You suppose dey withhold some results abeg...

Imagine the awful result from Diamond bank too. How can a bank raise capital, not debt o, but via equity and begin to spiral down since then?
My people, make we enter farm. This NSE get as e be now.

@Manie, please slow down the rate at which you are digging into our past. Why you dey use our past haunt us nah? These quotes from the past don dey dey too much abeg. Let's move on to other things and leave Oando for now until result is fully digested. I am sure the conference call will throw up more than enough to talk about. Abeg, these your quotes don dey dey 3 much.

joseph1013:
I really feel bad that people have lost money in Oando. But enough warnings were given. I still remember sounding this out as late as 16th October.

On a humane note, I hope anyone who is close to myjoy checks up on him. He's not the emotional type usually as I've known him to take insults and rebukes in their strides and even make out of them jokes. For him to have gone to the point of deactivating his account shows something is not right.

Depression is a dangerous thing. Someone should check up on him.

Nothing to worry about. Myjoy08 is reading all your posts. He will comment in the fullness of time, it might be with a different moniker though. It is well. Lol

manie:
Oando's AGM will not be in Lagos.

It shouldn't be o.
Uncle Wale be like : Bonny Island would be cool........make we see as una go take reach there nah. Bloody investors

OBAGADAFFI:
Then you're very lucky.
I have attended several AGM @ MUSON and Civil center and it was shouting and arguments through out the meeting.


Just imagine how an Oando AGM will look like.

I would love to be at the next AGM. I will take a seat at the back kpatakpata close to an exit door. Popcorn and a bottle of coke will make the experience complete.

ifeykay:
While other companies are releasing Q3 2015 results OANDO PLC will be at the NSE today to address stockbrokers on matters relating to the audited FY 2014 result by 1.30pm. What a way not to run a company. Forteoil already has released her Q3 2015 numbers. Is time for us to say no to impunity in the running of any public quoted company in Nigeria. Mr Wale Tinubu has crossed the line...................

A 2nd read of your post after checking the result got me cracking. So Uncle Wale knows there are "matters arising" from this result. Damage control needed on the floor of the NSE. Chai!!!

I am almost sure of one thing though, they have a plan to protect the share price. Hence the need for this meeting. Why schedule a meeting same day result was released? The unfolding events might also give us a clue to the 60M units traded the other day. A big boy couldn't just bear it any longer (my own theory). Forget the corresponding price increase.....that one na O and O gimmick.

Elai147:
Let's not be surprised if uncle T comes to the floor to mop up all the offers on Oando. The guy get plan wella

Uncle Wale you mean.

Just to buttress my previous rant (lol) on Oando and even the NSE we have experienced so far this year. Optimism should be balanced with caution. Access bank was on full offer for a day and the next day switched to full bid. The result was released and market performance was lackluster.
I am not a kill-joy but just highlighting the summary of the NSE this year - highly volatile and unpredictable. I am sure many thought UBA will be flying by now but where are we? Why not? But result was good. When it will eventually take off....no one knows.
We can only patiently watch and prepare. Taking decisions based on just a day's action might cost us. Let's play safe.

@Josh121.......Thanks

Josh121:
people are just rushing for Oando hmmmmm no words ooooo

I'll still preach caution in dealing Oando.
@ Cadno, How did my previous post create fear? Many are still licking wounds sustained dealing Oando. So it seemed then too, that it can only go up. Like you said, everyone trading it should set a reasonable exit price and don't bother buying if you are not in this train already except for long term (personal opinion).

There is a news item on Oando this morning in the Leadership newspaper........A positive one. Can someone post it please?........device not cooperating.

You guys shouldn't get too excited about the spike in volume of OandO's shares traded today especially the crossed deal. Like someone already mentioned, only time will prove who made the right decision between the buyer and seller.
What if one of the big boys got sick and tired of them Ocean and Oil clique and sold his holding to them. My point is today's trade is not sufficient to make any sensible deduction from. Let's keep watching trades in the coming days. Temper your optimism with caution.

Apologies to everyone, but I sometimes conclude that market participants are crazy. Access was dumped yesterday like it was worthless and today some are scrambling for it. Just the way the market works though.

FO's craze is one of kind. I don't even attempt to analyze that stock but one thing is for sure, the crazy participants here are pushing it to N300.

Pardon the use of the word Crazy o, my attempts to rationalize behavioural patterns here is driving "crazy" too.

Kagame:
Gents I noticed something interesting.

-Senator Udo Udoma is the Chairman of Union Bank Nigeria. Apparently not an active member of APC, but he made #The List despite protests against his candidature from some APC stalwarts in his home state.

- Okey Enelamah is the MD of African Capital Alliance (ACA). ACA as the lead investor,in a consortium with three (3) other firms ,own 61% shareholding of Union bank Nigeria.Okey Enelamah is not a card carrying member of APC and is not known in political circles. However,he made #The list.

- Muhammed Buhari has just one bank account, which he has operated for over 30yrs.He also borrowed money from his bankers to purchase his nomination form.And he banks with Union Bank.

This information can either make business or political sense depending on how you choose to assimilate it. #Conspiracy theories

Nice observation. We can only watch as events unfold. The bank is still expensive in my opinion. By the way, ain't feeling you in Rwanda.

Panic selling on the floor today

passwelle:
When you think of the green, remember the red. 70% of todays trades happened at +100% up from Fridays close, yet it closed at +33%. Thats an intraday loss of 33%.

Something could be brewing. That closing price is significant still but I won't jump into conclusion until the closing of trades tomorrow or the next.

ihedioramma:
there units sir?

Pa, is this necessary?

ihedioramma:
You dont understand, is lont time ?. do they have any office in uyo? or tell me how you start business with them and the cost of every thing thank's ?.

You are yet to cross this bridge?

08107596134
01-3429613
01-4540114

info@morgancapitalgroup.com


Pa, do you mind not bringing up this issue again?

myjoy08:
Sir, not sure about that. Some external forces are trying to buy their share at premium and the bank is planning to raise a little capital being the only bank with lowest outstanding shares. Not a recommendation

But why now? Why not 1/2/3 weeks ago? Well, may be,may be not.......quarterly results for banks should start streaming, so I expect upward movement of prices. UBA and Access have been flexing for same reasons. I expect others to follow suit, if not this week, then from next week.

Note: All na permutation o

valacious:
What is driving up Unity bank shares?

Speculation may be. Unity bank is quick to release quarterly results.

jp130:
plz is tomoro a public holiday?

Haha! You no dey tire? Lol. As far as stock trading is concerned, I hate public holidays and weekends ehn.

jauntty:
@Mbuhari. Good, short and precise Independence day speech.

Am only disappointed that he didn't give any economic direction, no mention of the economic policies he plans to embark on.

Do you think this will have an adverse effect on the market?

What are we selling? What are we buying? How market?

PETERiCHY:
Well I'm not really back bcoz this might be my last post till March 2016

Heya! Enjoy your sabbatical Sir.

You guys are mixing up E-dividend mandate forms and Bankers confirmation of signature.
The former has always been free but the later is done for a fee in most banks (if not all).