₦airaland Forum

Elusive001:
Hamas: October 7 was an ‘extraordinary military achievement’

By Nurit Yohanan Follow
Today, 1:38 pm

In a statement marking three years since the October 7 massacre, Hamas military wing spokesman Abu Obeida says that “October 7 was an extraordinary military achievement, with God’s help”

“Enemies and friends alike acknowledged the scale of the planning, execution and deception,” he says.

Abu Obeida adds that three years have passed since “the arms of the fighters shattered the occupation’s security doctrine. There is no deterrence left. Palestine will not forget those who stood by its side, especially those who shed their blood for it.”

Abu Obeida also appears to suggest that Hamas would like to see attacks on Israel launched from new directions, including from the west.

“Everyone saw how the drones that came from various fronts [Yemen and Iraq] deprived the enemy of sleep. What would happen if a front were also opened against it from the west?” he says.

On October 7, 2023, terrorists rampaged through southern Israel communities, an outdoor rave and military bases, massacring some 1,200 people, mostly civilians, and abducting 251 to the Strip amid acts of depraved violence and sexual assault.

The ensuing war between Israel and Hamas killed over 74,200 people in Gaza, according to the Hamas-run health ministry in the enclave, although the toll does not differentiate between combatants and civilians. The Israeli military believes that Hamas’s overall toll is largely accurate, with IDF officials estimating that two to three civilians were killed for every dead terror operative. Israel has long accused Hamas of fighting from civilian areas, including homes, hospitals, schools, and mosques.

The fighting has also caused widespread destruction in the Strip.

https://www.timesofisrael.com/liveblog_entry/hamas-october-7-was-an-extraordinary-military-achievement/

Let Hamas and their supporters keep celebrating the achievements of October 7, and the fruits and consequences.
They can continue the jubilation and dancing, and merry making
So nobody should cry ''genocide''.
IDIOTS!

CyynthiaKiss:
24-Year-Old Sri Lankan Migrant Worker Sentenced To D+ath in Saudi Arabia For Allegedly Insu¥ting Prophet Muhammad

A 24-year-old Sri Lankan migrant worker, Anojan Sivarasa, is facing the de@th penalty in Saudi Arabia after an appellate court found him guilty of blasphemy against Islam and the Prophet Muhammad over a comment he made on Facebook.

Anojian was arrested in July after a religious dispute erupted online following an incident involving Hindu pilgrims in Sri Lanka. During the exchange, a user reportedly made derogatory remarks about a Hindu deity, prompting Anojan to respond in Tamil with an ins¥lting comment about Prophet Muhammad. He later deleted the comment and posted an apology video, but screenshots were reportedly sent to his employer and Saudi authorities.

According to his brother, Hamsidan Sivarasa, people in Saudi Arabia were initially unaware of the matter, as individuals in Sri Lanka reportedly sent emails about the post to the company where Anojan worked. The company subsequently notified Saudi authorities, who registered a case against him.

Anojian was initially sentenced to five years in prison and fined 3 million Saudi riyals. However, on September 17, Saudi prosecutors appealed, seeking to have him prosecuted under Sharia law instead of the country’s cybercrime legislation. The appellate court granted the request and increased his punishment to the de@th penalty.

His mother, Rasamanickam Yogalakshmi, has made an emotional plea for his life, saying, “I plead for mercy for the wrongs committed by my son. Please forgive him and send him back to us.”

The Sri Lankan government has launched diplomatic efforts to secure a pardon. President Anura Kumara Dissanayake also assured Anojan’s family that the government would spare no effort to obtain his release.

The family has reportedly had no communication with Anojan since September 28. A four-member Sri Lankan legal delegation is travelling to Saudi Arabia to meet his local defence lawyers and discuss what can be done to save him.


https://www.facebook.com/share/19kFC3b7tZ/?mibextid=wwXIfr

Nlfpmod Nlfpmod

Nlfpmod Nlfpmod

A religion of ''peace''?
Even the Almighty God, we do sometimes transgress against His Holy Name and He forgives us countless times!

ayobama1:
Buyback is not the same as reconstruction

Yeah, I know. But what is common in this particular instance is that both led to a reduction in the OS of the companies concerned, which should improve the EPS and DPS

presiade:
Okay.

No be say I have STERLING shares. Make dem no pay well, the market will do justice to the share price post-reconstruction. LoL

My own target na Access Bank. I want it around N25 or less

presiade:
I know. I only asked the probing question to make you think about your post. The assumption should be that they’d maintain the payout ratio they’ve been maintaining prior the reconstruction. Your initial post that I quoted would be interpreted like the bank now has to pay 10x dividend with unchanged OS, whereas they now have 10x less shares to pay out the same amount to.

This has been considered (see my earlier post)

Sterling Bank highest dividend in the last 10 years (without reconstruction) is N0.18k (for FY2024, paid in 2026).
Multiplied by 10 gives N1.80 (or N2). Let's even assume it will be N3
Compare that to the dividends of other banks selling for N70-N77

ghm:
Why are you so fixated on dividends?

First HoldCo is up approximately 185% year-to-date as of early August 2026 . The stock has nearly tripled this year alone.

You can simply sell a few units (any % you want) and use the cash to meet your needs. That's the point of holding liquid stocks—you don't have to wait for a dividend to access value.

What about if he bought at a high price e.g. N150 or N160?

ayobama1:
In my few years on the ngx, I could not remember even a single shares reconstruction that accrued value to shareholders.

Yeah,
The one I know that seems good is the share buy-back by Stanbic IBTC.

Meektunz:
I was watching the television on a program about Benue State Governor and his name popped on the screen then i saw this titles before his name. I nearly laughed my life out.

Simple: it is due to the ''I better pass you'' mentality.
A typical Nigerian wants to show/behave that he s better than the next (or other person). That is part of what makes us to be more corrupt.
The other other side of it is that it may motivate someone to work and strive harder to achieve like his/her peers. But the negative effects are becoming too much

presiade:
No be “EPS” be the basis of dividend payout again? If they do share reconstruction, won’t the number of shares reduce by a factor of 10 and the allottable amount also increase by the same order of magnitude, given that profitability is maintained in the same proportion?

Theoretically, you are correct.
EPS is very important, but the Dividend paid (eventually out of the EPS) and received by investors would have bigger impact on the price, because they will be comparing it amongst other bank stocks.

Some companies report high EPS, but the dividend paid may be very low, which affects the price.

KarlTom:
Buying at ₦50 post-construction is equivalent to buying at ₦5.00 pre-reconstruction...

Yes, but what about the dividend that would help sustain it at that price, going by what other banks are paying?

Agbalowomeri:
So why are they reconstructing? No be JuJu be that

They may want to do something different or special for shareholders going forward.
Time will tell

4willer:
My questions:
1. How many drops of oil has the refinery produced in 10 years?
2. What is the salary being paid for, both old and new structure?
3. If nothing happens in 48 hours, who will suffer for it: Nigerians or the refinery workers?

Enquiring minds want to know.



PH Refinery Workers Threaten Shutdown Over Seven Months’ Unpaid Salaries

https://diasporadigitalmedia.com/ph-refinery-workers-threaten-shutdown-over-seven-months-unpaid-salaries-2/

by Hope Nwankwo

Workers at the Port Harcourt Refining Company have threatened to shut down operations over seven months of unpaid salaries.

The workers, under the Support Staff Union of the Port Harcourt Refining Company, protested at the refinery in Eleme, Rivers State, demanding urgent action from management.

The protest also centred on the delayed implementation of a new salary structure reportedly approved by the Nigerian National Petroleum Company Limited.

The union said the new remuneration package was expected to take effect from October 1, 2026.

However, workers alleged that the structure has yet to be implemented despite the reported approval.

The union has given NNPCL management a 48-hour ultimatum to address the outstanding issues.

It warned that failure to resolve the matter could lead to a shutdown of the refinery.

Beyond the unpaid salaries, the workers are demanding the immediate payment of their outstanding entitlements.

They are also asking for a one-time ₦1 million housing or rent relief for eligible support staff.

The workers said the continued delay has placed significant financial pressure on employees, particularly as living and accommodation costs continue to rise.

The union also called for improved communication between refinery management and labour representatives on matters affecting workers’ welfare.

The dispute adds another layer of pressure around the Port Harcourt refinery, which has remained an important part of Nigeria’s efforts to strengthen domestic petroleum refining.

Attention is now on NNPCL management as the 48-hour ultimatum runs its course and workers await a response to their demands.

What are they threatening to ''shutdown''? A carcass, non-functioning refinery or the blending plant?

Agbalowomeri:
If they pay N7 dividend at this level, it should be fine

Their highest dividend in the last ten years (before reconstruction) is N0.18k.
Multiplied by 10 gives less than N2

Seems Access Bank is putting up some resistance at N30?
It should go down for me, abeg

ayobama1:
The downward spiral can now commence.

Very likely.
I cannot imagine myself buying a single share of Sterling Bank for even as high as N50.
But let's wait and see.

treesun:
https://punchng.com/ph-refinery-workers-threaten-shutdown-over-seven-months-unpaid-salaries/

Workers at the Port Harcourt Refinery have taken to the streets over salaries and the implementation of a new pay structure. A support staff representative says NNPC management approved the structure but claims the refinery coordinator has refused to implement it. pic.twitter.com/cT76JQgivD

— News Central TV (@NewsCentralTV) October 6, 2026

Port Harcourt Refinery Support Staff protest Day 2: staffs refused to be intimidated with the use of security. It takes nothing to listen to their demand. pic.twitter.com/pRMuQpXijr

— Ibidunni (@ibbmodes2) October 6, 2026

What are they going to shut down? A non-functional refinery or what?

Itzlinda:
access or UBA which one has more upside potential?

For me, I think it is Access but it may take longer time because of CBN regulatory hurdle.
UBA may do better in the short term while Access is still dealing with its CBN wahala

jonnysessy:
Sterling Financial Holding Coy have completed their share reconstruction by dividing my holdings by 10 and multiplying the price by 10.

In mathematics this operation is as good as nothing is done. But, can I say the same for stocks. Time will tell, they have used this opportunity to reduce their OS. The price will now be N77

When the technical suspension is lifted, which I believe could be tomorrow. We would see how investors will respond. If it favours the company, I see a whole lot of companies in the banking sector towing this line because most have humongous OS. But, they must deliver EPS equivalent to the current share price.

Just like every other thing in share matter, time will tell.........

Can Sterling Bank sustain the high share price?

Payunsin:
Good.
Enjoy your holdings on the ride no more space for top up

Ha!
This man is wicked ooo
Are you Wike's brother?

Payunsin:
Sorry the bus is fully loaded n we are already on the move. We gave all more than enough time to be part of the journey
Ooo ti lor

Lol.
I am also in the Access bus oooo!
Just wanted to load more but the price jumped to N30 and Dangote refinery IPO also came up which I want to buy now.
I may still buy more if it goes down and I get enough extra funds.

faoogoke:
The volumes Accesscorp is doing these days is getting interesting. 192 million unit today.

But make them pay interim dividend first.

Lol.
Access will fly out of that price range once they pay interim dividend.
I missed buying the units I wanted when the price was around N25 so I want them to miss interim dividend so the price can drop again.

Raider76:
The shocker will be the refineries. I still see Tinubu selling them in his 2nd term. He must know that ounce government refineries are working he has to return fuel subsidy. This is in addition to any personal business interest he may have. He will not do it now because it will be a huge electoral liability. They are acquiring a lot of friends and goodwill in the Niger Delta. This may give rise to a workable arrangement for the sale. This is just me thinking a loud. I have no other information on this.

Wow.
I just hope the president does not create problems for Oando, even though Wale may be benefitting from his position as president.
The less controversy, the higher confidence stakeholders would have in the company, and help it recover.

presiade:
Okay. No long-drawn argument, knowing how you’re.

On the bolded, I didn’t refer to a specific past government. I wrote “previous governments”. I want to believe you know the difference between “government” and “governments” and won’t be willing to twist that again. 😆🤣

Ire oooo. ✌️

Na God Almighty go judge you people!
Shame dey catch me for your govt. sef

presiade:
You like dancing in circles. I’ve given you the answer more than once. How do you think they’ve been able to stabilize the exchange rates and raise the external reserves to the high level it currently is at? Previous governments were borrowing, paying subsidy and unable to pay workers’ salaries, all that with minimal capital project execution. This current government has been consistent with salary payment, is executing projects, and breaking the country away from the downward spiral.

Note: I’m not defending the government (let them pay for my services if they want me to defend them). I’m only stating my personal views. You, on the other hand, are known to want to tear down this government no matter what.

Enough of this tangential topic on this thread, although this is a highly related topic to the theme of the thread.

You gave the answer to yourself. Your ''answer'' is not an answer to me.

They are using TBs to support the recurrent, annual budget. FACT!
They are using foreign loans and bonds for capital projects. FACTS!

So far, they are not able to explain where savings from subsidy removal is being used for.

And then, here you go again: always trying to rubbish a previous govt that this current govt campaigned for, promoted, defended, praised and hailed as very successful when they were in power.


''I took over from myself'' - Tinubu;
''I succeeded myself'' - Tinubu.

So which one is the ''previous'' or ''current'' govt?

presiade:
The CRR sets the minimum proportion of deposits that the banks must keep, and indirectly how much they must avail to borrowers (done by the CBN through Loan-to-Deposit Ratio, LDR, penalties), so Nigerian banks can’t arbitrarily lend all the remaining deposits (after removing CRR portion) to the government.

The point is this: heavy TB issuance(which you prefer, apparently because you want to defend the govt). would still produce similar negative effects that you ascribed to high CRR.

Bottom line:
They are using TB to fund the budget; using external loans and bonds for capital projects.

So where are the savings from subsidy removal? (the govt itself is unable to answer, so don't bother to out-do yourself by trying to provide an answer)

Raider76:
Below 30 is possible, but below 20 will be shocking. Unless they really want to go peivate. But from what I am seeing they can't go private unless they don't plan on acquiring more national oil assets. As a private company people will kick, but as a listed company they will get some supporters. Just look at what Alhaji is doing.

Yeah, you are right.
They actually want to acquire more stakes from NPPC in their JV.
The FG announced a plan to sell NNPC stakes in some JVs but suspended it after industry players kicked against it.

The Angolan oil bloc is also there.
But a lot of things will depend on restructuring the debts and ability to raise enough equity to minimize the finance costs.

presiade:
If you have dirt-cheap loans (borrowed money) it’s always good to take them to procure developmental projects. Your borrowed money is now not used to service subsidy but for constructions, development, and all, so its will be beneficial in the long run.

They’re borrowing externally, yet the foreign reserves are also rising to multi-decades high levels and the exchange rates ($, €, £) are dropping. That should confirm the “cheapness” of the foreign loans.

Increasing the CRR will likely have detrimental effects on the real sector—manufacturers, farmers, and businesses generally. Unemployment may result from that, when companies and businesses slow down due to shortage of funds (loans). That leaves government mopping up liquidity through debt instruments (bonds and treasury bills) the most viable option available.

And you don't see that heavy TB borrowing can also have same detrimental effects on the real sector, as the same banks could easily invest in govt TBs instead of lending to manufacturers, farmers, businesses, thereby causing all the negative effects including unemployment, crowding-out effect etc.?

There is no evidence anywhere or anything to suggest that the TBs are being used for construction or capital projects.

They are using foreign and domestic debts (loans, bonds) for capital projects, and borrowing domestically (TBs) to finance recurrent budget deficits.

So where are the savings from the subsidy removal?

peekspot:
My Daughter Zainab Has Two First Degrees Five Masters An ACCA & A PhD And Cannot Get A Job— Galadima

Full Video
https://www.youtube.com/watch?v=HhHZeTcmcmU?si=Yc2uQ3OmylzqNiCB

Watch from 11:44 - 12:28



https://news-af.feednews.com/news/detail/0b9caa809fe455598c46a7d946250835?client=news

She should easilyget a job as lecturer in a university; unless she is not interested.

presiade:
Government borrowings through treasury bills and bonds are for controlling the economy, especially inflation—by mopping up excess liquidity and money in circulation. It’s also cheaper than some other external “loans”, the terms of which the government cannot control.

Yes, I know what TBs are used for, including meeting shortfalls in revenue to support the budget, especially with the subsidy overhang.
Subsidy is now gone, and we are still borrowing more via TB.
But even apart from TBs, the govt has borrowed huge foreign loans and the debt stock is increasing
If there is still too much cash in circulation, the CBN may also raise the CRR to pull in more cash.

FSBoperator:
Israel is at risk of civil war or state collapse, a classified CIA assessment warns, as years of genocide in Gaza and war in Lebanon and Iran deepen political, economic, and social fractures within the country.

CIA experts pointed to a volatile mix of pressures converging ahead of Israel’s elections on October 27: economic crisis and soaring military spending; heavily armed veterans returning from prolonged combat, many carrying serious psychological trauma; growing fury over ultra-Orthodox men who are exempt from military service; escalating settler violence in the occupied West Bank; and Israeli Prime Minister Benjamin Netanyahu fighting to hold onto power and igniting a constitutional crisis.

>One of the deepest fractures in Israeli politics has emerged not over opposition to the country’s war crimes—but over who is expected to fight and who is exempt. Ultra-Orthodox men have historically received broad exemptions from military service while continuing to receive state benefits, an arrangement that has become increasingly contentious amid repeated reserve mobilizations. Their collective refusal to serve is not rooted in opposition to Israel’s wars, as ultra-Orthodox leaders argue that military service threatens religious life and their obligation to Torah study. But after years in which reservists have been repeatedly called away from their jobs and families, the exemption has become a potent source of resentment in Israeli society. Households have also been absorbing the costs of Israel’s belligerent policies. Food prices have reached record highs, with the cost of food—including fresh fruit and vegetables—rising 9.5 percent over the past two years, deepening an already severe cost-of-living crisis after years of war.

https://www.dropsitenews.com/p/cia-report-israel-civil-war-collapse

A reader-funded news outlet!
That says it all.

faoogoke:
The first half of 2026, GTCO, which happens to be Nigeria’s most consistently profitable bank and one of the most admired financial institutions on the continent, earned ₦382.9 billion from government securities. It earned ₦347.9 billion from loans. A Nigerian bank made more money from lending to the Federal Government than from lending to every business, individual, and institution in its loan book combined. This fact generated remarkably little public commentary when the results were published. It should have generated a great deal more.

Good observation.
The other leg is, why the huge borrowing by govt after they told us that subsidy has been eradicated?
Have they created other schemes and loopholes to blow the savings from subsidy removal?

omoredia:
Dangote showing his true colours now. How won't they import when the imported is far cheaper that the locally produced fuel. Was Nigeria set up for Dangote and his family?

So why cant they import and sell the imported products? Why must Dangote sell his products to them, if they already know where to import cheaper products?
They are buying Dangote's products and mixing it with inferior imported products, thereby under cutting Dangote. And you people just open your mouth to say rubbish