₦airaland Forum

godlyguy:
When is Oando resuming? They are cooking food for the so called faithfuls. I won't talk about the NGX until I see the need to air my views.

Mugu fall guyman chop am

Be wise

Haba, quite interesting to see that you are the one prompting further discussions on Oando?.
You had said that you would not recognize Oando until they come clean. Have they come clean now? Mentioning the name means you now recognize Oando, after all.

Nobody here is ''faithful'', strictly speaking, to Oando. We are only ''faithful'' to whatever stocks that has potential or prospects to give us good profits or increase the value of our investments within relevant or foreseeable timeframe.
After we make the money we desire or target in Oando, we port to another stocks with better prospects or potentials.

Don't get it twisted!

megawealth01:
You are a good man believe me

Now, you are flattering me.
What Oando has delivered to us, let no stocks put asunder!

megawealth01:
Truth be told. Oando contributed to a lot of people's wealth in the shortest time. I personally won't be able to announce the value of what I have left in Oando because it's unbelievable...

Wale try sha just that na guy man

Thanks for your objectivity.
I have also made some good kill in Oando. But I am still waiting to milk it more and maximize my profits because I took a huge risk after I realized the potential in the stocks as far back as 2021.
I had bought some units as far as 2014 but did some trading along the line until I started accumulating non-stop from 2021.

Bagwa:
16 Nigerian Stocks to own in 2025 :

1, Julius berger plc: N164 / first half earnings: Turnover: N243b & net profit : N11.4b / e.p.s : N7.17/ p.e ratio : 22/ Target is N250

2, OANDo plc: Share price : N77 / 2023 earnings: / e.p.s :N6 / p.e ratio: 12.8/ Target is N200

3, Presco plc: N485 / First half Turnover: N88b & net profit N38.8b / e.p.s N 38.8 / p.e ratio: 12.5/ Target is N650

4, Custodian plc: N11.65 / First half earnings: Turnover: N60b & net income N22.1b / e.p.s N3.77 / p.e ratio: 3.09 /Target is N18

5, UACN plc: N20.2 / First half earnings: Turnover; N83b & net income N8.9b / e.p.s N3K.04 /p.e ratio: 6.7/ target is N35

6, Conoil plc: N176/ First half earnings: Turnover: N180b & net income N8b / e.p.s N11.56 / p.e ratio; 15/ Target: N250

7, Total plc: N673/ First half earnings; turnover: N529b & net income N20.5 b/ e.p.s : N60/ p.e: 11.2/ target is N1,000

8, Bua foods plc; N 394 / First half earnings: Turnover:N 672b & net income N130b / e.p.s :N 7.27 / p.e ratio: 54/ Target: N550

9, Geregu plc: N 1,150 / First half earnings: N80b & net income N20b & e.p.s : N8 / p.e ratio: 143/ target is N1,500

10, Zenith Bank PLC: N37.45/ First half earnings: Turnover: N2 trillion & net income: N577b / e.p.s : N18.40/ p.e ratio: 2/Target is N50

11, Gt Bank plc: share price:N50 / First half earnings; Turnover: N702b & net profit; N494b / e.p.s : N16 / p.e ratio : 3.12/Target is N60

12, UBA plc: Share price :N25 / First half earnings: Turnover; N1.3b & net profit ; N300b / e.p.s : N9 / p.e ratio: 2.7/target: N35

13, Aradel plc: Share price: N620/ First half earnings: Turnover: N268b & net profit: N104b / e.p.s : N24 / p.e ratio: 25/Target is N1,400

14, Fidelity bank plc: Share price: N13 / First half earnings: Turnover: & net profit : N159b / e.p.s : N4.9/ p.e Ratio : 2.6/Target is N25

15, Seplat plc: Share price; N5,200/ first half earnings: Turnover: $421m & net profit: N244b / e.p.s: N91.7 / p.e Ratio: 56/Target is N,6,000

16, Access bank PLC: Share price:N19/ First half earnings: Turnover: N2.2 trillion & net profit: N281b / e.p.s : N5.3. /p.e ratio : 3.5/Target: N35

( E.P.S: means earnings per share/ P.E ratio is price earnings ratio) ( If am to select 6 best; Julius berger, OANDo, fidelity bank, Presco, UACN, Zenith)

Thanks, David atta

My top 3 picks (in no particular order) would be:
a. UBA
b. Zenith
c. Oando

Oando for capital gain; not for dividend payout, at least in the short term
UBA for both capital gain and dividend
Zenith for both capital gain and dividend,
But I expect price of the bank stocks to go down a bit around Xmas/New Year, especially Zenith and GTB

MARKETJJC:
My brother, thank you for your concern. I am appreciative. I am good. I have been a little bit away/inactive for three reasons:

1 just set up an electronics shop at onitsha international market and trying to put things together.

2 Just withdraw a little to read, read and read to upgrade my knowledge

3 Just got married yesterday and now in my honeymoon and na Oando do this one

I am grateful to Oando PLC and others for fast tracking things for me.

Going forward, na still trading 75% and investing for long term 25%.

We are still on course with our 1million to 1 billion naira ten years challenge and it is doable

Thanks and regards

Congratulations for your marriage and growth in business. More grease to your elbow.
I am very touched that you are sincere in acknowledging the positive impact of your investment in Oando.
I sincerely hope that everyone is truly happy for you. Oando has become a very controversial issue now.

Once again, I wish you all the best in your marriage, business, and family life generally.

God1000:

https://www.youtube.com/watch?v=umXFie3aEmY?si=9X4Er68zNeH97g1P

Iran's air defense system was in action last night, several missiles fired by israel were intercepted in Tehran

Meanwhile the Israeli military has announced the completion of targeted airstrikes on Iranian facilities, citing Iran's recent missile attacks.

https://www.facebook.com/reel/922810689906655/?app=fbl

Where are the pictured or videos of the missiles purportedly fired from Israel?
Israel used aircraft to strike Iran, not missiles. Stop the deception

RuddyFusion:
Rubbish talk
1 year on After leveling GAZA what have they achieved?

It's weeks now fighting HIZBOLLAH What have they achieved?

You guys will just come online and be typing rubbish

Foolish talk!
How many years did Iran fought with Iraq and what did they achieve? Did they win?

BabsO2:
Make Wale remember the question shareholders asked him about resumption of dividend payment and the answer he gave.

N1 dividend from the 2023 PAT and cashflow will be a good start and serve as a proof in the hands of shareholders that he as indeed turned the company around .

You want Oando to pay dividend with negative shareholders fund/equity?
I would advise that you focus on Oando for price gain; dividends may take some time. But if it happens, good.

brotherly:
In short, the result has been reviewed and provisionally approved by the Audit Committee and the Board. What remains is the final Audit Opinion, as the auditors requested additional time due to the recent acquisition.

If the share price saw a 10% increase around the time of provisional approval, it suggests that those last-minute buyers on the 23rd might be seeing something promising.

I’m holding on to my shares—don’t follow me; I bought mine at 12 naira.

If what Oando has released is true, then it vindicates my earlier opinion that the efficiency or inefficiency of external auditors could create problems for a company.
I hope they will not miss Nov 1 again, which falls on Friday.
Just put your mind on Nov 4, which is Monday

jonnysessy:
Oga Megawealth01, if my mathematics no decive me, you are talking about a unit cost of N6.00k. No wonder the name " Megawealth01" when i grow up i will like to be like you. I just take small profits and move to the next stock. The highest % in my portfolio is Oando (110%) and now is on suspension.😡

Man wey dey call himself ''megawealth'' must know what he is talking about.
That is why he always takes things easy and puts on a relaxed smile no matter what

Money does not like too much noise, na!

megawealth01:
I still left something for Wale na

But not for ''jijo'', na.
You are already covered whatever Wale and his Oando decide to do

phadriz:
Okay Sir, it's not my fault na my profession cause am. I only apply materiality concept sir.

Good to know.
In that case, you can say ''most companies'' or ''majority of the companies''. It is even more of statistics than materiality!

phadriz:
You're speaking from assumption, I'm speaking from experience. Consultants includes settlements in their bills self just that it won't be pronounced in the invoice. Na top guys understand that. Like I said this people are like NPF that tell you that bail is free yet your lawyer will pay to bail you. The lawyer won't come out and say he pay for bail too na.
The more you look, the less you see!

I am speaking from practical experience. I am in the industry and I know what I am talking about!
Say what you know, not what you think or don't know. And don't generalize.
90% is not the same as 100%

megawealth01:
I wonder too

Don't you guys know about ''jijo''?
Now that ''jijo'' seems to have gone wrong for some folks in Oando, you want to deny and play an Apostle Peter on them?
Guys are not smiling!
I have always said that Oando is for the long term! If SEC and Wale like, let them suspend it for the whole next year!
We die there!

phadriz:
Okay sir, I no wan argue with you since you work in all the multinationals.

Do you know that there are different taxes? Tax authority will just slam you nonsense charge just to extort you even when you're doing the right thing. They are like NPF. Most companies hate distraction from them so they may feel it's cheaper and stress free than going through litigation. For instance you need tax clearance to get funding of 10B through CP and one useless man said you're not compliant to extort you 5m, will you take tax regulatory to court for such when you have pending projects, knowing the time frame for court cases in Nigeria?

Enjoy your weekend

You are the one that claims to know all, that is why you used the word ''any company''!

The tax authority cannot just slam any nonsense charge on a multinational company with competent tax consultants, especially one of the Big 4 e.g. Deloitte, PWC, E&Y, KPMG etc.
That is why I asked you what type of company you are talking about.
There are many multinational companies, but all of the them are not the same.
Some that I know would rather pay millions of naira as legitimate tax, rather than settle with N300,000

phadriz:
How many TAX Audit have you witness? You are sounding as if you're not a Nigerian. Most tax audit with issue is either the company don't want to settle or vested interest in the case or the settle went to the wrong place.
Can you as a shareholder have access to company ledgers ?
Auditors will reach a compromise at a point once the company can provide the some documents to cover themselves for negligence except if the going concern of such company is under threat which will make them to disclose it in the auditors report.

Remember auditors are also in business and they will want to retain their clients.

I know many multinational companies that do not settle. They defend their transactions, sue the FIRS if they come up with unreasonable assessments or they pay their obligations in full if they are convinced.

Your choice of word is what is causing the issue: you cannot just say ''any'' or ''every'' because you don't know all and you have not seen all. Just say the ones you have seen or known!

phadriz:
It is Creative Accounting (Window dressing). For you to know the extent of the fraud, check intercompany payable and receivable. You will discovered that most of the group funds are stock there. Unfortunately, you can not get the ledgers because AFS is summary.
Talking about principles all will be done in line with Accounting principles, but most fraudulent transactions are hidden there. All what you said are theory.

This is my field I know what I'm talking about.

This is what you said: ''Any company that has so many intercompany transactions is a fraudulent company/''
The meaning of what you said is ''every company that has so many intercompany transactions is a fraudulent company''
But I am telling you that it is not accurate. You may say that all the companies that you know that have so many intercompany transactions are fraudulent companies, but you cannot use a sweeping generalized word like ''any'' or ''every'' company.

And how do you mean by ''you cannot get the ledgers because AFS is summary''?
The ledgers are in the accounting system or ERP and you must provide the ledgers and official background documentation, explanations, schedules etc. to auditors and investigators from e.g. FIRS, external auditors, internal auditors etc. when they come for audit and investigation. Your failure to provide these could lead to penalties and interests in hundreds of millions and possibly billions of naira (because most of the transactions are in foreign currency e.g. dollars or euros)

I don't know the kind of companies that you know.
But I know many organizations that have many intercompany transactions and they are not fraudulent.
For instance, what some of them do is to take advantage of favourable tax regimes (tax avoidance) and forex availability in different countries, e.g. tax avoidance is not fraudulent, but tax evasion is fraudulent.

What I am saying is an open truth that is known to all professionals in the accounting and audit industry globally!

We Nigerians should stop the mentality of thinking that every person or company that we meet is corrupt or a thief.
It worsens the image that we create of ourselves

phadriz:
Dey play!

CFO report in manner that the CEO & the board want it to be.

Any company that has so many intercompany transactions is a fraudulent company.

I don't agree with this, in principle.
My disagreement is not specific to company in Nigeria, but based on principle only.

The number and nature of intercompany transactions would depend on a company's Group structure, geo-locations of subsidiaries, capital equipment, raw material and service sourcing opportunities, supply chain and logistics, transfer pricing and tax laws applicable at subsidiary locations, forex availability issues, nature of business e.g. manufacturing, etc.
Some multinational Group companies have subsidiaries and business interests spread across several industries, sectors in several countries across different continents; and the above factors make it inevitable for them to have many intercompany transactions.

Speaking from experience.

megawealth01:
I for write long Epistle about this Oando wahala yesterday but I slept off because we don't share same timezone...

If Oando will ever get it right Wale and his style of management has to change from what we use to know over the years (badtguys of NGX ) which I have said severally that I doubt him changing not now that he has Bulaba as his protection

Before you attack me just remember I get Oando but I dey do my own with sense because na GAMBLING THINGS 🤪 until I see wetin I dey look for about the COY

You have your good points.
I support the SEC decision to suspend trading in Oando's shares, at least to restore investors and stakeholders confidence. A particular company cannot just be flouting the rules without some consequences.
I think SEC took the decision partly because of a similar decision taken by the S/Africa stock exchange (when Oando failed to file), and also to send a clear message to Wale that he being the president's relative does not give him undue license to flout the rules of the market.
In fact, Wale will not have it easy if he should misbehave and have any case with SEC, because they already have records of prior issues like noncompliance, suspension, fines, court cases etc.
They will match him boot for boot if he should come up with any funny idea. This is one of the reasons why I decided to stay put in Oando, in spite of the rumours about delisting. SEC would give him a tough time and the final price (to delist) would not have been too favourable to Wale.
SEC still has an axe to grind with him and will use every opportunity to cut him to size.

febble:
Toyota Corolla 2013 model accident free, 8months used and everything intact

Contact or Whatsapp 080 eighty 27 88 91

Video of it available, you can send message on Whatsapp

Price 10m

Provide pictures of the the engine, the interior and rear seats

Princkez:
I'm sitting tight with my OANDO....no shaking,km $1 still my target.

$1?
N1,650?
Wow.

febble:
Toyota Corolla 2013 model accident free, 8months used and everything intact

Contact or Whatsapp 080 eighty 27 88 91

Video of it available, you can send message on Whatsapp

Price 10m

Is it first body?
what colour is the interior?
leather or fabric seats?

SAK:
where is that prophet?? He has never seen in advance this suspension o! There is God o.

The prophet has spoken. See his comments or ''prophecy'' below, at 12.59pm today

designking:
Aradel will profit greatly from this Oando suspension. It is a good thing SEC suspended Oando and send a warning to most companies that don't respect their rules.

Short term investors should stay clear of Oando cos Wale can even delay the suspension for the next 6months to 1year until the books are perfect to the present public.

Oando don hang many Jijo investors XMas money 😄

Why mocking and laughing at the supposed 'hanging'' of jijo investors, who are actually your neighbours?.
Have you forgotten the commandment, ''thou shall love your neighbour as thyself''?
Guys are not smiling oooo!
Let Oando release the results and allow guys to flex at Xmas

emmanuelewumi:
I have said it and will say it again and again.

We should allow contrary opinions to thrive here, but Team Oando will always shout down people with contrary opinions even when they present verifiable facts and figures.

Nobody can shout you down, because this forum is even a faceless one.
At least @Godlyguy is a living witness because nobody has been able to shout him down.

All contrary opinions, including yours, are welcome! But such opinions should also be debatable!

Maybe, what is happening is ''majority carrying the vote (which you call shout) over the minority''

emmanuelewumi:
It appears someone invested more than 70% of his capital on Oando.

You will alright, this is an opportunity for you to load more at a cheaper price

Please, let us avoid this kind of comment; it is unnecessarily personal and could be seen as being petty.

It does not matter and it's no one's business whatever percentage anybody decides to invest as long as the person investing has not come to beg anyone here for his daily bread.
The person who has invested 1%; 50%, 70% or 100% etc. of his capital in any stocks may be a million times richer and wealthier than the person who is trying to mock him out of sheer ignorance, and sometimes absolute stupidity.

I know you are not the stupid or foolish type, even if a complete idiot is trying to make you his friend and seeking your company in his foolishness!

KarlTom:
Make una no vex...

Those who used to drop recommendations had been victimized in the past.

So it's up to everyone to do their research and act on it accordingly...

Lol!
The SEC/NGX seems to have reduced your work load now.
At least for some time to come, you don't have to worry to monitor and inform us about the closing price gain/loss for Oando!
Thanks for the efforts, though

OakPearl:
I do not support Oando’s delay in releasing their reports, but some times, we get so biased we don’t realize when we over-flog a simple matter.
This is not to chastise any individual directly or make a case for Oando; but the technical suspension on Oando is it different from that placed on Unity Bank, NPFMFB and others who also defaulted Rule 3.1?
Nothing new about this suspension in my opinion.
The only disadvantage for short term traders is the uncertainty of how soon they comply to get their funds out. That in itself could also turn a blessing in disguise.
As for long term investors in the bus, I even see it as an advantage because they might eventually get some more good updates on the new inroads they are making which could spike the price immediately after the suspension is lifted.
Better to keep an open mind because you can easily be misled and miss out on opportunities from a stock you actually have no quarrel with.

Yes, you are right but the problem here is that Oando is becoming too known for flouting SEC rules. They should have requested for a longer grace period when they missed the initial deadline of Sep30.
The SEC is obviously enraged at Oando's frequent failure to comply with its rules and might have taken this tough action after realizing how the S/Africa stock exchange took a similar hard stance when Oando failed to file on their bourse at the expected deadline.
Wale and Oando management must wake up!

BabsO2:
That's in prior years?
The unaudited 2023 showed positive free cashflow after paying interest due on loans.
I suspect they may have poor bookkeeping practices. And or their new auditors are slow (thinking about your prior comments on how some audit firms are slow)

Well, you may be right.
I am just thinking that some other liabilities from prior years may be falling due in the current year etc.
But if the auditors are the problem, then Oando must say so or insist that the auditors disclose it (even if mildly) in their report. It would be wrong for Oando to keep quiet and allow the auditors to ruin their reputation.

My organization had to pick a big fight with our external auditors on these delays; the only luck that we have is that we are not listed as a public company in Nigeria, so the pressure was contained internally.

chillykelly86:
Very crucial additional questions:

1. What're the costs of getting those crude oil in reserves out?
2. How fast can they be gotten out?
3. Is the value of the crude oil guaranteed, on the long run, vis-a-vis
global crude oil demand?

No matter our(African) arguments, the crude oil demand by the major consumers (North America, Asia and Europe) is not looking bullish. And we can't force crude oil down their throats, eventually. Thank God for Dangote Refinery: at least, we should have some level of energy security.

It is a fact that there has never been a single oil and gas upstream company in Nigeria's history which commands the quantum of oil and gas reserves that Oando has acquired, that has been declared bankrupt or liquidated because it was no longer a going concern!
Oando is having cashflow problems, but they have assets that are worth more than their total liabilities! How quickly they are able to generate the necessary liquidity to settle their liabilities is the challenge here!

emmanuelewumi:
Did you care to read the previous auditors comment about the going concern status?

That is the first thing I read before going through the financial.

A lot of information are in that small print, but most of us don't read it

I suspect they made a loss for HY2024, and are finding a way to delay the results until they release the Q3 2024 results. It is too early to insinuate that the cause is about the going concern or no going concern.

Look, the suspension of trading in the shares is even protecting Oando. The NGX should have allowed the share price to crash, and let people face the reality.
Sustaining the price at N89.65 is a favour being done to Oando and they are not deserving!

emmanuelewumi:
How long have you been in this market?
Have you been investing for 15 years and above?
Na today

Pardon me, I don't understand what your questions are driving at!
Yes of course, I have ben investing for more than 15 years