₦airaland Forum

kolaish:
My post when Zenith released their result.

It is unfortunate that the market has digested zenith result wrongly, a case of a good result released at a bad time. I was occupied with a lot of things and could not open my platform until after close of market, if not I would have sold and cut my losses. But the way it looks now, I doubt if I will sell considering the losses.

Na wa o. Even to take 10% from NSE now is a problem .

Deadlytruth:
I concur. With just 10bn outstanding shares and a probably far less free float, manipulation would be very easy.
The stock is a very anomalous one.

longlife20:
There is no manipulation is because of the number of shares, bulk of their shares is held by institutional investors who are not selling and their share is also few(10billion) compare to zenith which their share is above 31 billion and GT 29 Billion.

olaboy1:
Houses in NYC are overpriced and overvalued, what more do you want.

Lexusgs430:
All this house valuation should not cause any problem..... Once property is valued, ask Ambode & Lagos state government to come and buy............

The owners don hammer......

olaboy1:
Overvaluation is all over the major cities in the world. Property tax around Europe is 0.75%, so Lagos is a good deal.

ajl:
I think that's where the problem is. But paying (0.225%) $129 (N45k) on property worth $56,000 (N20 milliin) almost amount to nothing. Where I live I pay about (1.074%) $3000 for a $280k property... though there is no state income tax.

My only issue is govt accountability and Tinubu getting a cut from all these transactions.

gloriousdawn:
That is a likely sign of upward movement, Lol.

fxuser:
Stanbic
- declares 50 kobo and breaks higher on volume sef


lolxx

NwaAmaikpe:
:

Okay for once,
I refuse to stand with Daddy Freeze..
Our mumu don do!!!

Do you know how much Daddy Freeze will generate from the traffic to his online church's site?
That alone will give LIB and NL a run for their money.

It simply means the money he'd realize from traffic will make the tithes received by conventional pastors look like biscuit change.

Freeze is truly a shrewd extorter with a keen foresight.

Alariiwo:
You think?

So who are those living in Lagos Slums and ghettos, selling second hand okrika wears and made in Aba shoes all over SW?

Soon Lagos will demolish all their 2×2 rice, garri and beans shops and other illegal structures they erect all over Lagos.

kolaish:
I think that the market is still trying to digest zenith result and in a matter of days, we will see the effect of the positive dividend declared by zenith.

This type of result will never go unnoticed positively.
Disclosure: Yours truly bought today @ 31.50

kolaish:
I am still there with tasere unit (300,000 units) that I bought at 35k. I purposely did not sell all this while until it get 300% gain, so that the money will be enough for me to eak nkwobi. If it can get there, good luck, if it cannot, the stock is on its own.

I can decide to leave it unsold for years until milo (or what is that their name self) come back again to carry their kaya

godlyguy:
JAPAUL heading back to 0.30k... Many will be trapped

THE BIG SMART GUY

RabbiDoracle:
Ojuelegba to Yaba tinz

PharmAlfred:
What happened in Access today needs to be investigated. Is that multiple billion naira figure I am seeing there? #15b plus. Who sold to who? Who bought from who?

Either Hunter catch Bush meat or Bush meat catch Hunter, one of them must happen.
To those in, tighten your belt.

Next week is going to be interesting.

fxuser:
Flourmill

- hits N38 !
- new high begat new high

#justObserving

IchimokuPilot:
On The Verge Of Collapse, 13 Gencos Drag FG To Court


https://www.nairaland.com/4384860/verge-collapse-13-gencos-drag



...................BENDING BACKWARDS

In suit no. FHC/ABJ/CS/180/2018 before a federal high court in Abuja, the 13 GenCos are suing the federal government, the Central Bank of Nigeria (CBN), minister of power, works & housing, Nigeria Bulk Electricity Trading Plc (NBET), Azura and Accugas.

The suit was instituted by Mainstream Energy Solutions Limited, Transcorp Power Limited, Egbin Power Plc, Northsouth Power Company Ltd, First Independent Power Limited, Shell Petroleum Development Co. Ltd., Geregu Power Plc, Sapele Power Plc, Pacific Energy Limited, Afam Power Plc, Ibom Power Company Limited, Omotosho Power Plc and Niger Delta Power Holding Company.

The aggrieved GenCos said that they have been bending backwards to continue generating electricity — making huge sacrifices, bearing the excruciating burden of not being paid for electricity generated and sold to NBET, also known as the bulk trader, “and facing the threat of going into extinction as a result of huge indebtedness to banks and financiers who provided the foreign currency-denominated acquisition loans with which the power plants were acquired from the federal government during the privatization exercise in 2012/13”.

NBET, they said, has consistently defaulted in paying for all electricity generated “in breach of its contractual obligation which requires that the GenCos be paid in fully (100%) not later than 45 days of invoice submission, and upon delay in payment be paid with interest at the agreed rate”.

The failure of NBET to pay the GenCos has led to default in meeting their obligations to their lenders, operations and maintenance contractors, equipment manufacturers, service providers and other persons and entities engaged by them for the purpose of ensuring the smooth and effectual generation of power, they further said.

The total amount owed the GenCos for electricity generated and supplied by them is approximately N800 billion, the plaintiffs said, adding that with capacity and interest payments due to them, the debts are now well over N1 trillion.
...........................