₦airaland Forum

UBN might be delisted

thesilentone:
We are within their closed period leading to the release of their unaudited financial statements - started 1st October

Thank you

thesilentone:
For Fidelity, it is interesting to note that the insiders cannot make any trades until after 27th October.

So this question is, what has the market seen that is not yet obvious to the rest of us?

Why?

emmasoft:
For investors in UPDCREIT, see the latest

Are they paying both 2021 and 2022 this on year?

ebuka1997:
NNPC acquires Oando retail stations

We saw it this coming

Did CBN governor just woke up from sleep?



https://thenationonlineng.net/cbn-goes-after-states-farmers-over-n600b-unpaid-loans/

LordAdam16:
What policies? Please cite the exact policies.

How is Meffy at fault for rice farmers defaulting on loans?

You were the one who said he was increasing bank's CRR and "dashing the money to government".

I don't relish holding brief for Meffy, but a lot of the criticisms are undeserved.

-Lord

So you mean CBN can't do anything about N463bn Anchor Borrowers are own the CBN?

pluto09:
If he had continued with providing subsidized dollar to every tom dick and harry, by now he would have finished our reserve and that would had been catastrophic.
At a time we were averaging 2m barrel of crude oil per day but now we can only do about 1million per day and you are still blaming the CBN Governor for not providing us with enough dollar. Where do you want the dollar to come from?

Before 2015, most CBN FX are going to Fuel Subsidies and government FX spending.

Business are getting chunks of thier FX from the Parallel Market.
Lots of Nigerians are getting FX from various remittances are selling FX to business and individuals.

All this noise about Form A and M weren't much before CBN capital controls.

Mpeace:
Hmmm. I doubt oh. The man's incimpetence is too glaring

He is doing their bidding.

LordAdam16:
The capital control is because of FX scarcity. And it has the backing of Buhari. You should remember that when Buhari had his long stint in London and Osinbajo was Ag. President, Meffy was compelled to flood the market with dollars from the Reserve. Rate recovered from about 500 to 360. Which is where it was until COVID-19 struck.

Increasing the CRR is to curb inflation. That is a prime CBN mandate. In fact, it is a prime mandate for any central bank governor on the planet. The budget by the way has gone up from 4T under the last administration to 17T currently. After you account for the official FX rate drop and current fiscal issues, the CBN is literally the only cheap source to fund our expenditures.

Say Meffy is removed, whoever replaces him will pledge to maintain that policy before s/he is nominated.

Circumstances and poor fiscal directives messed the system. Meffy is doing as much as he can under very tight and unfavorable conditions.

-Lord

If 2015 capital controls was due to FX scarcity, Why did CBN reverse the some of those policies.

Do you the most of the rice farmers are defaulting on loans they got from the CBN?

That the money going to CRR is not government money, it Belongs to the Banks and Shareholders.

pluto09:
He did not start any problem.
He is trying to manage a problem that is more than him and CBN.
In my own view, our problem is the country inability to generate enough/adequate foreign exchange for our ever increasing needs coupled with our inability to produce what we eat. Imported inflation is a big issue here......

Remember FX hit N500/$1 immediately CBN started the capital control on FX.

Oil had always been our major source of FX.
We have always imported what we eat, so it not a new problem.

Dum20:
You have said it all.

The CBN governor does not control security, our major source of income is crude and it is being stolen when crude is selling at an all time high.

Many nigerians are Japaing and most are going through school route to Canada, US, UK, on average one person pulls not less than 30 thousand US dollars that is why the naira is loosing value.

The CBN cannot do anything to stop this demand for forex but the executive arm of government can stop it by creating millions of jobs, providing security for its citizens, stopping crude oil theft.


People should stop blaming CBN governor

He gets most part of the blame.

His capital control on FX started this problem.
He keeps increasing Banks CRR and dashing the money to government.

He messed up the system.

ebuka1997:
Hasn’t he been Governor for more than 8 or 9 years now, I remember he has been Governor for as long as I can remember.

Wasn’t he the one that introduced this multiple exchange rate thing and he may be the one to take the exchange rate against the dollar from about 10 to 1000. What a legacy! Well, that’s what happens when the CBN Governor decides to start playing politics and even wanted to become President instead of focusing on his job first.

He got a Second five years term in 2019

Mpeace:
Do you remember how they removed Sanusi? A new government that wants to succeed must remove him one way or the other.

A new APC government won't remove.
I just hope the Senate have courage to take action.

ebuka1997:
Cash reserve ratio of 32.5%, omo I can't wait for next year and a new CBN Governor, this Meffy is too clueless.

He still has 3 years has governor.

New President can't remove him, except the Senate.

pluto09:
MPR increased to 15.5%
This is no good news for NSE.

MMF people are visiting

yMcy56:
With a Dividend yield of 15.63% @N1.60....
Whosoever will mistakingly see Mansard at N1.50 and didn't buy, is definitely not interested in Insurance sector or has fund issues.

Can they pay last year dividend?

Mfunkynation:
please what can you say about Mansard and Custodian

Custodian is far better than Mansard.

MANSARD 1.56, is now below Nominal value N2.

essentialone:
*Universal Insurance Posts N4.1bn Premium Income, Deepens Retail Market*

Universal Insurance Plc recorded N4.1 billion premium income in the first half of 2022 ended 30th June 2022.

The figure, according to the company, is far above what was achieved in the whole of 2021.

The company’s premium income at the end of 2021 stood at N3.4 billion; while a total sum of N459 million was paid as claims.

The company’s report for second half of 2022 showed a profit after tax of N796 million and a total claims paid of N348 million.

The Managing Director/Chief Executive Officer, Universal Insurance Plc, Dr. Benedict Ujoatuonu, while speaking at the formal inauguration of the newly elected executives of the National Association of Insurance and Pension Correspondents (NAIPCO) which took place in Lagos at the weekend, stressed that the company has a mandate to deepen insurance penetration through the retail market.
Ujaotuonu, who was ably represented at the occasion by the company’s secretary and head of Corporate Communications department, Chinedu Onyilimba, said the performance was made possible as a result of aggressive moves to drive its business development especially by providing special tailor-made products in their retail operations.
“Our aggressive deployment of technology, especially in driving our retail operations as well as our business expansion which led to opening of new branches, enlargement of our marketing units which also led to the engagement of new staff made this possible,” the MD/CEO stated.
He said the company is poised to drive, achieve and surpass its N6.5 billion target set for 2022 despite harsh economic environment.
Ujaotuonu said, the company, as part of its strategy, will continue in its business expansion to meet its target of making its products and services available to its prospective customers across the nation, noting that the firm is expanding its investment and leveraging technology to drive its retail operations.
“We are also expanding our investment in and deploying technology especially in our retain operations, this will help us make our numerous tailor-made products accessible to the populace,” he said.
He pledged his company’s commitment to continue to collaborate with NAIPCO to advance the course of insurance and pension industry in the country.
The inauguration of NAIPCO new executives was jointly sponsored by Universal Insurance Plc, Anchor Insurance Limited, and Sovereign Trust Insurance Plc.

This stock has not moved from N0.20K in the past Six months.

essentialone:
https://doclib.ngxgroup.com/Financial_NewsDocs/36290_UNIVERSITY_PRESS_PLC%20CORPORATE_ACTIONS_CORPORATE_ACTI.pdf

Proposed Dividend: A Final Dividend of 10 kobo per 50 kobo ordinary share payable to shareholders whose names appear in
the Register of Members as at the close of business on 31st August 2022.

Proposed Bonus: Nil

Closure of Register: The Register of Shareholders will be closed from 1st to 6th September 2022, both days inclusive.

Qualification Date: 31st August, 2022.

Payment Date: On 29th September 2022, dividends will be paid electronically to shareholders whose names appear on
the Register of Members as at 31st August 2022, and who have completed the e-dividend registration and
mandated the Registrar to pay their dividends directly into their Bank accounts.

Sorry, my previous post you quoted was for Academy.

Shareholders have been selling down UPL since they declared that Dividend .

essentialone:
Please check again. UPL is now trading at N1.63

Yes, I have been following the price .

The price is bound the drop after QD, since most Bonus and Dividend Hunter are selling.

Also, note the market is currently depressed.

essentialone:
The current share price of University Press (UPL) is NGN 1.63. UPL closed its last trading day (Friday, September 16, 2022) at 1.80 NGN per share on the Nigerian Stock Exchange (NGX). University Press began the year with a share price of 2.94 NGN but has since lost 38.8% off that price valuation, ranking it 153rd on the NGX in terms of year-to-date performance.

University Press is the 81st most traded stock on the Nigerian Stock Exchange over the past three months (Jun 20 - Sep 16, 2022). UPL has traded a total volume of 10.2 million shares—in 472 deals—valued at NGN 22.6 million over the period, with an average of 161,544 traded shares per session. A volume high of 1.41 million was achieved on August 19th, and a low of 50 on August 5th, for the same period.


I have made a big loss by buying the shares of UPL, and the stock is still going down down down, and now at N1.63. What hope does UPL have for its shareholders? Will this stock ever rebound to N3.00 in the short term?

Or should I just sell it off before it hits N0.20?

The price will be adjusted after the Dividend and Bonus qualification.

Ex-Div will be N1.68.

[quote author=essentialone post=116566954][/quote]This doesn't prove anything �

mails4funshi:
Many thanks.

There might be other ones tho.

mails4funshi:
Dear @OBAGADAFFI,

Kindly confirm which ones "Some Brokers are fully automated, once you buy/sell it goes and CSCS and Registrars immediately".

investnow.ng(United capiatl)

seyisanya:
Yes, other things being equal, you'll receive dividends automatically moving forward. In fact, I introduced a friend to NGX about two years ago, he has GTCO, Zenith, Okomu, MTN and a few other stocks in his portfolio. He never for once filled e-dividend form but has been receiving dividends in ALL the stocks since then.

I think it depends on Brokers.

Some Brokers are fully automated, once you buy/sell it goes and CSCS and Registrars immediately.

I bought some shares through a broker on the qualification date and I got dividends without filling out the mandate form.

But for another broker, I had to follow up with the register before getting my dividends.

ojesymsym:
Okoumo has paid dividends this year before, right?
Do they now do interim dividends too?

Yea, they pay interim dividend.

Okomu dividend don land.

Interestingly I didn't fill any e-dividend mandate form for Okomu.

Mpeace:
Mtn yet to pay since friday. These registrars now have a new trick. They hold onto some investor's dividends despite the whole edividend payment thing. They wait until the investor calls. If the investor doesnt caĺl the dividend remains with them.
Meristem did it with my FBNH dividends. When I called, they had virtually no excuse. They just said we will process and pay you. And they paid.
If the investor doesnt call, the money goes.

They know that many shareholders will not call, especially those residend outside the country who do not monitor their accounts as persons within can do.

Registrars are a big problem for investors.

Mpeace:
I never see oo. But expecting. My mind was for Monday. Didnt know its today. Thanks bro. Waiting.

Weekend groove

Mpeace:
wetin dey happen. Hope its positive news. Half of my portfolio.

Dividend don land o.

You never get yours?