₦airaland Forum

OBAGADAFFI:
GSK crashed from N8 - N4.40

sellydion:
Old wine in New skin

Please dont ask me.DD advised

Truth234:
Axxela Funding Listed N11.5 Billion Bonds on Stock Exchange

Axxela Funding 1 Plc listed N11,500,000,000 Series 1 bonds at a 14.30 percent fixed rate on the Nigerian Stock Exchange on Thursday.

The bonds expected to mature in 2027 were issued under the N50,000,000,000 Bond Issuance Program today.

https://investorsking.com/axxela-funding-lists-n11-5bn-bonds-on-the-nigerian-stock-exchange/

leo1234:
Some brought at 8.6(intraday high)
Picked some units today @4.4

stcool:
The market has reached its compression limit may continue to range until Q2 results start coming in...

The only way from here is a breakout in the upwards direction

Next week into August should be bullish!!!


On the side...I hope it is a major takeover that is happening in Sterling bank

Whichever direction we are fully seated and waiting.

carbonado:
Good morning house. Trust the da is going on well, i do like ask, is there any stock brokerage firm in Nigeria that offers virtual accounts, thanks in advance. May the trend be with you.

Umargarr:
When are we getting the JB bonus please, anyone with the info?

Intendy:
Stock with new 52 week lows

JB #15.50k

Mcy56:
Think you're right.
The earlier concern I equally raised was the timing aspect. Those SEC guys can delay unnecessarily. If I could remember well, we've been waiting for the outcome since December or so.
I can remember how frustrating Continsure was........before they eventually approved and finalized the taking over.
See the case of Law Union too.
Anyway, it's frustrating discussing ventures like this here....cos of the "I told you so" gang. Wish both parties good luck.
I rest my case.

phoinix:
Search for "NSE reviews rules on pricing methodology" it is all there. I would have posted the link here but d spam bot is on d beat.

I don't make d rules bro.

sellydion:
A company should be able to use its own inflow. However there could be problem if Items of import

are not included in HS code allowable for import by custom. Custom would deny the importation.

robobo:
My Oga make we leave matter for mathius, Erisco get hin own issue which is in public domain

i am not aware that CBN is stoping any exporter from selling proceeds of exports on the IEW since its inception in 2016, so why he cant sell hin own money to hin self via the IEW is what should be talked to as per Erisco

even the FPI / international DFI acknowledged that the IEW is free and functional market. The only issue with it is lack of depth / liquidity

but make we leave all dis grammar make we pray make dem solve d problem b4 all this global excess liquidity go dry up, so that NSE (indirectly me &u) can get its own share

robobo:
My Oga i have told you to take all this remittance reports with a pinch of salt.

All the reports are resting on a survey / publication done by PWC which in itself had been questioned on the definition it ascribe to Remittance. For example the remittance reffered to by PWC in its report include non oil export proceed (and is even the largest contributor) which is outside the scope of Diaspora Remittance, and this non oil export proceed is even presently part of IEW market. the other leg of which could rightly be defined as Diaspora remittance (i.e. money sent by Chukwudi/ Adebola / Abdulrahman) as stated by Oga OGG via western union / moneygram e.t.c are not that big circa less than $5b annually, this also is currently on the table becos it is dollars proceed from such remittance that pre covid CBN channeled to BDC weekly sales / PTA / BTA. So on a bigger picture like you all part of the remittance are already in the market place

But as a said in my last post why pre 2015 all the so called remittances werent able to stop / stall devaultions? why do the FPI catch cold once oil price go south, if the so called remittance is of such big impact on the FX plays in Nigeria

las las make we pray make dem (CBN) sort / solve the FX problem quick so that some of those global liquidity can find its way down to NSE, becos na thier my own garri dey

robobo:
My Oga this Diaspora funds is overrated

Forget abt the futuristic figure qouted by PWC which was latched onto by politician to score cheap political points

werent the Diaspora remittance available before 2016? if so why was it not able to stop / stall all devaluations before then (i.e. b4 2016)

CBN placed restrictions in 2016 on remittances because it has become a black hole aiding all sorts of crime (laundering e.t.c.) however the CBN still designed another route for the same remittances inflow to reach retail end user by channeling all inflow via remittance to BDC weekly sales / PTA/ BTA.

Anyway we had both agreed on the fact that there is a supply (either through FPI / reduced oil receipt as I stated or via Remittances as u stated) problem which if not resolved wld continue to impact negatively on NSE

GonFreecss1:
Wrong sir. Diaspora? How much can they send?

The only thing saving us is and has always been crude oil.

In 2018 alone we spent 44 billion USD saving the naira, how much do Diaspora people want to send to cover that?

1 billion? 2? This is the reason I called a bear on the NSE then and I was right when many here were arguing. What happened last last?

Let us pray Crude oil prices don’t drop further or coronavirus situation doesn’t become sticky, else... the man called “robobo” above has described things well. It won’t be funny at all.

onegentleguy:
Diaspora remittances which constitutes the major weighting of FX inflow, is I think, what @ obagadafi is referring to.
The CBN need not fund such plays... it only needs to ease the management policy in that window of inflow and I can authoritatively tell u that at least 60% of our Fx shortfall/need will be covered.

Globally, Diapora remittances is one of the pivotal determinant to maintaining the demand-supply balance in Fx transactions.

If Chima, Osita, Ahmed and Kabiru sends $25,000 each from the abroad and their families can't access the funds and sometimes strugle to get their Fx equivalents from the banks, then u'd naturally expect that supply would be bridged over demand.
If a part of that collective of $100,000 sent by all 4 persons were easily accessible(without Naira conversion) then of course some of those funds would find their way to the market and help ease demand.

It might interest u to know that the total value of diaspora remittances has often superseded the country's yearly budgetary peg.
Imagine if some of these aren't in place.

There are lots to say, but if u understood matters to this point then u'd agree that the Fx challenge in Nigeria is not about supply(higher demand) but about SUPPLY MANAGEMENT brought about several unorthodox policies(restrictions) and bad governance from the fiscal end.
This over time created that disconnect where demand continues to overshadow supply.

Let's hope that we shall overcome this in due course.

Selah

robobo:
my Oga that soultion is not that simple

where is the FX to give them?

OMO maturity btw April and June was of $6b, if as data suggested that FPI constitute the bulk in that (OMO) market place up to as much as 60% then it can safely mean abt $3.6b want to leave d country (that is not counting other markets oooo e.g. Stock ) you wld be talking abt $4 - $4.5b that want to leave. the sales in IEW window btw same period was $900m -- $1b taking the two together you wld have a net of $3 -- $3.5b FPI funds trapped. THE $3.5b above excludes the need of other FX users (importers / fuel / debt service e.t.c)

My Oga if all above is taking together CBN wld need to find abt $10b, if u take $10b out of current reserve it wld give you $25b left of which some component of the remaining $25b is illiquid due to several factors e.g. swap lines / gold holding e.t.c) then you are looking at $15b liquid left which is barley able to cover 2 months of imports.

My Oga if above plays out (i.e. giving them the remittance as you stated) there wld be a massive run on the Naira and by then i doubt if anything of wld be left of the NSE that we currently play. so you see CBN is caught between two hard rocks and it is just doing its best till inflow (post covid / higher oil price) wld allow it to better manage situation

robobo:
That is exactly what they dont want him to do hence d debacle, what they want is free float and Oga Buhari (not even meffy) is very abhorrent to that

on a purcahsing power parity d naira wld be fairly priced between 380 -- 420, considering that the Naira is already at the tail end of this spectrum, one wld have assumed that the FPI should be coming in by now but that is not the case which means they want more (Egypt 2016 comes to mind).

i think both party (Nigeria vs FPI) wld eventually settle for the middle ground i.e. a single rate for all markets but which is being managed by CBN by being the MM in that market.

Hw soon that wld happen is what i cant say because the CBN wld need a large war chest (circa 40 - 45b reserve) to effectively play MM for a single market which they dont currently have. i doubt if the FPI wld come in until that middle ground is achieved.

So this current consolidation might go on for a long time and even has a higher probability of spurring a downtrend if it lingers for too long (though not like that seen in March)

RabbiDoracle:
There are lots of underpriced opportunities on NSE.

Anyway NSE is moving at a slow pace along side the our economy unlike those in EU and US that are skyrocketing and causing a sharp disconnect between the real economy and the stock market. This is could cause a bubble in the developed markets.

The bull on NSE seems to have an underlining health conditions.

Doc Ukay, come and diagnose o.

IYGEAL:
The tenor is longer

stcool:
STERLING BANK

NEWS LOADING

talk2me2:
Please has anyone receive the coupon payment for the FGS202251 (April 2022 FGN Saving Bond)? It ought to be paid since last Friday but I'm yet to see the alert.

RabbiDoracle:
Nigerians will suffer it. Both the poor and the rich.


And this too will surely pass.