₦airaland Forum

Harvestock01:
https://www.vanguardngr.com/2023/07/court-asks-ecobank-to-pay-n72-2bn-damages-in-favour-of-honeywell/

The rumble continues.

I said it earlier. Those bank legal teams don't know nothing. They have cost banks billions. Its not restricted to Ecobank.
I am also of the opinion that Oba can maintain even more legal actions and obtain more damages from Ecobank for all the embarassment they have caused him.

He doesnt know that mtn nigeria is partly ownered by nigerians

Heishere:
FTN Cocoa did not make any revenue this quarter.

https://doclib.ngxgroup.com/Financial_NewsDocs/39002_FTN_COCOA_PROCESSORS_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JULY_2023.pdf

Zero revenue, Zero tax. The company is not even functional. I am sure the owners have sold thier holdings during the last bull run

Ministerial nominees list ro be sent to National assembly tomorrow.
Maybe this will bring some bull

Yoast:
https://businessday.ng/business-economy/article/more-money-for-real-sector-as-cbn-slashes-crr/

This will surely affect the market in a very positive way. For sure.

locodemy:
Go and look for it and grab.
Transcorp and caverton are my 2 stocks pick for this 2nd half 2023.

Check whatever you prefer as your entry price.
The 2 will reward you abundantly in the next 6 months.

They will say I have started again

I think companies that make their money in $ and other foreign currencies will do very well. The whole exchange rate stuff will almost double their earnings.
Access bank foreign adventures will favor them.
The oil companies( crude and palm oil) will equally be favoured

Harvestock01:
If FMN purchase agreement contains indemnity against future liability arising from any ongoing court case, they may be able to hold Oba responsible otherwise, sorry is their name. The devil is always in the details.

Worst case scenario would be some slap on the wrist for Oba.

But thus far, no such clause have been made known and if any exist, it should be coming from FMN as a defence to any attempt at enforcing the loan on them. Ecobank need to follow the right entity.
Fmn knew the implications of what they bought.
Its just like buying land that is subject matter of litigation. The buyer knows that under the doctrine of lis pendis, he bears the outcome of the litgation
Truth is Ecobank loan to Honeywell is not lost yet. Its either FMN pays or Oba pays. But nothing concerns the fbnh share puchase to the said loan.
The entity used in buying the fbnh majority shares has two sons of Oba as majority shareholders and can hardly be dragged into the whole mess.

chimex38:
FBHN saga fallout
https://leadership.ng/cbn-to-blacklist-bank-directors-with-bad-loans/

The man they are fighting is not even saying any thing. He knows he can easily pay off the said bad loan and still increase his stake in fbnh especially now that the directors and other stakeholders are observing the closed period. But he also knows that he is no longer liable for honeywell debts and If I were him, I will simply sue Ecobank for all the embarassment.
The law is clear that a buyer buys both the assets and liability and that a guarantor only comes in once the company cannot pay back and has no asset to be attached.
Flourmills already bought the assets and liabilities of Honeywell, and are therefore liable for the loans. Why chase the Oba around when Flourmills have not been liquidated.
Its very unfortunate that most of our banks have very very poor legal departments. You need to see how many of them get messed up in courts across the country

MeezPat:
Some people are locked in Chams and JaPaul

The bulls will return, but I think the whole market bears have alot to do with the pending Judgment of the Presidential Elections tribunal which should come by this month end or early August.

yMcy56:
If Transcorp should unbundle, then Transcorp Plc will be affected......because the bulk of the revenue/profit is coming from the power sector.

But it will creat more value for investors. The whole profit from transcorp power and transcorp hotel does not reflect much in the dividend and share price of transcorp plc.
Transcorp power is more than double the size of geregu, but see the little investors are getting from transcorp plc

yMcy56:
GEREGU @330 in the face of this red......
Keeping eyes on Electrity stocks....

* Not any form of advice pls*

Transcorp need to unbundle, and let their power segment stand alone. It would be worth alot.

debeey87:
My worry is the OS for the combined company. When savannah shareholders were integrated into Dangsugar, the OS increased and not much for dividend. I still wondering how Nascon shareholders will be integrated without increasing the OS for the resultant company.

Nascon OS - 2.6bln

DangSugar OS - 12.1bln

BuaFoods OS - 18bln

The resultant company will probably have same OS as BuaFoods but share price might not correspond given that Rabiu has more shares control than Alhaji has in Sugar.

Again, the market will always do its thing with regards to price in the end.

My broda pls stop using Bua for illustrations.
Anything BUA does not have OS.
Its a family business. Na him and him kinsmen hold 99% of the shares. The other 1% is for others

I doubtvthis. He cannot give almost all the important positions to the north,(finance, attorney general, power, defence, national security adviser, interior, transport etc

Mfunkynation:
TINUBU MINISTERIAL NOMINEES & DESIGNATIONS

Attorney General of the Federation - Dr Hassan M Liman (SAN)
Solicitor General of the Federation - Babatunde Ogala

National Security Adviser - Nuhu Ribadu - Adamawa State

Minister of Petroluem Resource State - Augustine Avuru - Delta State

Minister of Finance - Aisha Ahmad - Niger State
Minister of Finance State - Mr Dapo Okubadejo - Ogun State

Minister of Work & Housing - Sen Adam Oshomole - Edo State
Minister of Work & Housing State - Bashir Machina - Yobe State

Minister of Power - Sanusi Garba - Katsina
Minister of Power State - Dr Isiaka Olayinka Kolawole - Oyo State

Minister of Education - Prof Peter OKebukola - Osun State
Minister of Education State - Sen Sani Bello - Niger State

Minister of Defence - Gen Abdulmalik Jubril (RTD)
Minister of Defence State - Prof Osareimen Osunbor - Edo State

Minister of Foreign Affairs - Fayemi Kayode - Ekiti State
Minister of Foreign Affairs State - Alhaji Lawan Ya' u Roni- Jigawa State

Minister of Health - Dr Bankole A Johnson
Minister of Health State - Dr Zainab Shinkafi Bagudu - Kebbi State

Minister of Agriculture & Rural Dev - Abdullahi Ganduje - Kano State
Minister of Agriculture State - Sen Ita Enang - Akwa Ibom

Minister of Transportation - Simon Lalong - Plateau State
Minister of Transportation State - D Kekemeke - Ondo State

Minister of Police Affair - Nyesome Wike - River State
Minister of Police Affair State - Kabiru Marafa - Zamfara State

Minister of Interior - Nasril El Rufai - Kaduna State
Minister of Interior State - Prince Alex Mbata - Imo State

Minister of Science & Technology - Sen Chimaroke Nnamani - Enugu State
Minister of Science & Technology State - Alhaji Modu Musa - Borno State

Minister of Labour & Productivity - Festus Keyamu - Delta State
Minister of Labour & Productivity State - Mohammed Hassan - Yobe State

Minister of Budget & National Planning - David Sabo Kente - Taraba State
Minister of Budget & National Planning State - Abike Dabiri - Lagos State

Minister of Special Duties - Andy Uba - Anambra State
Minister of Specail Duties State - Alhaji Abdullahi Bello Bodejo - Bauchi State

Minister of Trade & Investment - Gboyega Oyetola - Osun State
Minister of Trade & Investment State - Alhaji Haddy Ametuo - Kogi State

Minister of Commerce & Industry - Sen Martin Elechi - Ebonyi State
Minister of Commerce & Industry State - Steven Lawani - Benue State

Minister of Solid Minerial Dev - Sen Teslim Folarin - Oyo State
Minister of Solid Minerial Dev State - Jamil Isiyaku Gwamna - Gombe State

Minister of Environment - Ben Ayade Cross River
Minister of Environment State - Ibrahim Abdullahi Danbaba - Sokoto State

Minister of FCT - Tanko Al-malkura - Nasarawa State
Minister of FCT (State) - Hon Zaphania Jisalo - Abuja

Minister of Aviation - Dr Ibrahim Salau - Kogi State
Minister of Aviation State - Muntari Lawal - Katsina State

Minister of Water Resource - Sadique Abubakar - Bauchi State
Minister of Water Resource State - Sen Ifeanyi Ararume - Imo State

Minister of Niger Delta - David Lyon - Bayelsa State
Minister of Niger Delta State - Gbenga Edema - Ondo State

Minister of Women Affair - Aishatu Binani - Adamawa State
Minister of Women Affair State - Betta Edu - Cross River

Minister of Youth & Sport Dev - Barr Bello Mohammed Goronyo - Sokoto State
Minister of Youth & Sport Dev State - Jay Jay Okocha - Enugu State

Minister of Mine & Steel Dev - Bello Matawalle - Zamfara State
Minister of Mine & Steel Dev State - Magnus Abi - Rivers State

Minister of Information - Bayo Onanuga - Ogun State
Minister of Information State - Abdulmumin Jibrin - Kano State

Minister of Communication & Digital Technology - Ikechi Emenike - Abia State
Minister of Communication & Digital Technology State - Eng Ahmed Yusuf - Taraba State

Minister of Tourism , Culture & Art - Abubakar Badaru - Jigawa State
Minister of Tourism, Culture & Art State - Jide Kosoko - Lagos State

Ministry of Humanitarian Affair, Disaster management & Social Dev - Alhaji Adamu Dibal - Borno State
Ministry of Humanitarian Affair, Disaster management & Social Dev State - Sen M Okadigbo - Anambra.
****************************************************************
don't know if this is confirmed!

Deadlytruth:
You get mind o! Wetin you dey find for SEPLAT this kind time?

lol. Na for my children oh.

locodemy:
Had it been I didn't sell off that early hours of trading when there was over 30m bids, maybe decide to sell during the intraday trading,I tell you chams would have lost today because I know the volume I sold out the moment trading started.
The difference btw me and you is technical indicator which you don't know.Try to know it and decide entry and exit prices.
Tomorrow, chams will have a matching price with bidders which means it can't gain 10℅ again for now till result is out.

Check my yesterday post on charms,I pointed the fuel will soon finish and this morning I did the needful.volumes drives up stocks and also drive it down.More volume sales are coming up tomorrow

Abeg carry that your bag of money come help me for seplat. Its like I am the only one there. Come and do your magic in seplat biko.

Asi 64603.69.

65k not too far. But...

Chams full bid will soonturn to offer then full offer

megawealth01:
It will still go back to kobo kobo sha

I pray our people dont get trapped

yMcy56:
Are we looking at different offers/bids?
Cos as at now, it's still on full bid....

In another news, TRANSCORP is on full bid @4.54!
ACCESS @19.25!
UBA @15.60!
ETERNA @31.20 full bid....

FIRST BANK as at now:

You are correct. There were some offers, and before I even typed, the thing returned to full bid.

Meanwhlie e be like say chams full bid is reducing in strenght.

UBA about to enter full bid

yMcy56:
FIRST BANK
On full bid @22.30......
Bids increasing......

* Crutial meeting held on Sunday by the directors to plot how to respond to Otudeko's re-entry ...

https://businessday.ng/news/article/first-banks-biggest-single-day-trade-sparks-rumours-of-otudeko-return/

Someone just burst the full bid. There are now offers

First bank on full bid. We may soon see first bank over take zenith and gtco.

Wonderful posts this weekend. But I just dey imagine wetin go happen to fbnh tomorrow.
Mind you, due to the closed period, the directors and some other stakeholders cannot buy until results are out.
Will they use shadow companies to do so?
Hmmmm wahala dey oh.
Disclaimer: I am available to be used by any director(at a small fee sha)

yMcy56:
FBNH
Majority shareholders held meeting on Friday to join forces against Otudeko and prevent him from taking control of First Bank.....
Interesting times ahead.....

https://nairametrics.com/2023/07/08/exclusive-fbnh-majority-shareholders-to-join-forces-against-otudeko-in-battle-for-soul-of-the-bank/

If true thennitsbtime to tightenbthe seat belt. Its going to be very fast race.

Frangel:
Q2 results

Thank. Corrected

yMcy56:
11% was recorded to have been purchased by Oba.
* As it is now, he has become the highest single shareholder in FBNH.
- Otedola: 5.57%
This baba like vawulence so much....
Let's see how Otedola will respond to this....they pursued him in TRANSCORP, will he concede to defeat here too?
Hope he's not the one that sold at premium again..because he's average price was less than N10...
- Let's hope it's not planned work btw Oba and Otedola as well.....because those ogas can be something else.
We see how it goes.....but whichever way, I think it's a win win for shareholders.

Otedola's hands must be tied right now by the closed period. He cannot buy nor sell. He can only wait till the q2 results are out

emmanuelewumi:
Always good to give room for errors.

Some people expected United Capital to go back to N4 few years ago, but the stock no look back


If not for mismanagement, FBN should be selling for N70 by now ...


When GTB and Zenith were paying dividends of 50k, First Bank paid N1.20k.


If the new management of First Bank can get their mojo back, the bank will go places

Even though I doubt his prophecy, I think FBN of then is not the same with this.
There is no fundamental bases for the current run save for Otedola.

megawealth01:
OANDO, CUTIX and Caverton do something na

Oando kwa. Run oh

If Transcorp should unbundle, how much do you think the power segment will cost, given that it has double the capacity of geregu?
Mind also the price of transcorp hotel in which transcorp shareholders have a huge majority shareholdings.
Why is transcorp price so so low?

Mankindman:
https://nairametrics.com/2023/07/04/coronation-insurance-receives-buyout-offer-to-delist-from-ngx/

Stock trading at 81kobo, to delist at 65kobo. Wonders of NSE.
But I heard this company is owned by the same people that formed access bank.

BabsO2:
Tony demonstrating benefit of long term discipline . Going strong at 60. I hope he is also ploughing the discipline into UBA and Transcorp and all his companies for the benefit of shareholders as well as stakeholders.

lol. You go first make money before you start do this type thing. When tony still dey carry file, he no know wetin dem dey call gym forget wetin him dey talk there.
Dangote, even at current state, no dey go gym

megawealth01:
And I bought small then to test mic

You lucky oh.