₦airaland Forum

http://www.punchng.com/dollar-scarcity-nigerian-travellers-buy-tickets-abroad/

Nigerian travel agencies are now collaborating with their counterparts in China, United States of America and Europe to buy flight tickets for intending international travellers from the country, investigation by our correspondent has revealed.

The development follows the acute scarcity of dollars, which has forced foreign airlines to raise airfares by over 200 per cent, with some now accepting only dollars as the means of payment for flight tickets.

In the last one year, over 25 foreign airlines flying into Nigeria have been unable to repatriate over N300bn ticket sales proceeds to their home countries, as the Central Bank of Nigeria continues to ration foreign exchange to commercial banks for sale to users.

http://saharareportersrescue.com/2016/05/01/busted-efcc-closes-in-on-former-lagos-governor-over-29-dubai-property/

The Economic and Financial Crimes Commission (EFCC), is closingin on a former governor from Lagos State, who is alleged to own 29 choice property in the United Arab Emirate (UAE), Saturday Telegraph’s investigation has revealed.

It is clear which of the former Governors that have ruled Lagos before are on the EFCC radar. Some of the ex-Lagos Governors who are still living are, Asiwaju Bola Tinubu, Alhaji Lateef Jakande and Brigadier Buba Marwa, who ruled Lagos as a Military Governor.

Sources disclosed that the former governor would soon be invited to the commission’s headquarters in Abuja, to answer questions on the alleged ownership of the luxury houses, each of which is said to be valued at over $1 million. It will be recalled that New Telegraph had exclusively reported on Monday the tracing of the property by the Foreign Desk Office of the EFCC.

A source, who spoke in confidence with Saturday Telegraph, said the commission was determined to deploy all that is legitimately required, to recover the controversial property, once it has incontrovertible evidence to link the ownership of the property to the erstwhile governor.

He insisted that the said luxury homes, were allegedly acquired through offshore companies, who are also responsible for their management. This is even as Saturday Telegraph further gathered, that the UAE government was mounting pressure on the offshore companies to come clean on the true ownership of the assets.

The decision by the Federal Government to seek the support of the government of UAE, and the latter’s cooperation, Saturday Telegraph learnt, comes on the heels of a subsisting Bilateral Agreement, which countries signed sometime in January.

The signing, which took place in Abu Dhabi, was witnessed by President Muhammadu Buhari and the Crown Prince of the UAE, Mohammed Bin Zayed Al Nahyan. “Further to the earlier tracing of the assets, the EFCC is working towards inviting the ex-governor to come and defend himself,” the source said.

Asked to be specific on the date, he declined, saying: “I can’t tell you that; you will know once that happens.” He added that: “The UAE government is mounting pressure on the offshore companies to make some disclosures to it, which will definitely help our investigation. Once all relevant procedures are concluded, and the commission feels strongly it has a prima facie case, it will charge him to court.”



Everyday investors kept asking why the price of OANDO nosedived from above N300 to below N5, forgotten it's been managed by the TINUBU's who happen to be the grandfather of CORRUPTION.

Let's see how Saint BUHARI will probe them. Bunch of hypocrites

"Sell in MAY and GO AWAY, else remain in the market at own PERiL"

*ThE OcToPuS*

megainvest:
Has Nestle reached car park yet?

Buy Nestle above N200 at your own peril.

*ThE OcToPuS*

http://www.cnbc.com/2016/04/27/street-slashes-apple-price-targets-after-earnings-disappointment.html?__source=newsletter|breakingnews

Apple's stock tumbled nearly 8 percent in early trading Wednesday as analysts expressed their disappointment with the tech giant's latest quarterly report.
The company's stock fall took out $46 billion from its market cap, but it still remains the largest company in that regard.


"How the mighty are fallen"

http://www.cnbc.com/2016/04/26/exxonmobil-loses-coveted-aaa-credit-rating-from-sp-on-low-oil-prices.html?__source=newsletter|breakingnews

Standard and Poor's downgraded ExxonMobil's credit rating from AAA to AA+ because of the firm's expectations for oil prices.
This story is developing. Please check back for further updates.
The only corporations left with a AAA rating from the S&P are Microsoft and Johnson & Johnson.

"How are the mighty fallen"

http://www.cnbc.com/2016/04/26/bp-runs-up-first-quarter-pretax-loss-of-865m.html?__source=newsletter|breakingnews

Oil major BP reported a pretax loss of $865 million in the first quarter of 2016 as low oil prices continue to plague the company.
First-quarter replacement cost loss came in at $485 million, compared with a profit of $2.1 billion a year ago. The replacement cost loss came in well above expectations of $140 million in a poll of analysts provided by the company.
Replacement cost profit is a common accounting measure to report profits in the oil industry which takes into account the fluctuations in the price of oil. Oil prices have seen something of a rebound since BP's last earnings when a barrel was trading around $33 with Brent crude now fetching around $44 a barrel but there is no sign of major producers curtailing output in a bid to support prices further.


How the mighties are fallen.

http://www.cnbc.com/2016/04/25/saudi-arabias-government-officially-unveils-long-term-economic-plan.html?__source=newsletter|breakingnews

Saudi Arabia's government unveiled a long-term economic blueprint on Monday for life in a low-oil price world.
Titled "Saudi Vision 2030," the plan includes regulatory, budget and policy changes that will be implemented over the next 15 years in the hope of making the kingdom less reliant on crude. It aims to build a "prosperous and sustainable economic future" for the kingdom, according to the press release.

The plan said the country will raise its share of non-oil exports in non-oil GDP from 16 percent to 50 percent.
The planned economic diversification involved localizing renewable energy and industrial equipment sectors and creating high-quality tourism attractions. It also plans to make it easier to apply for visas and hoped to create 90,000 job opportunities in its mining sector.



Most oil producing nations has moved on While some are still praying for oil to rise. What an irony.

veecovee:
why do u like consuming up to a page, each time u write...the worse is that most people do not like wat u write...sorry pls how old are u ? be sincere

I'm your grandfather's mate.

http://www.businessinsider.com/offshore-drilling-company-got-90-discount-on-rig-2016-4

If you want a perfect encapsulation of just how bad it is for the energy industry, we've got a story for you.

Ocean Rig, an offshore oil-drilling company, just got an incredible "going out of business" deal on a deep-ocean drillship.

According to maritime-industry blog gCaptain, Ocean Rig got a sixth-generation drillship that was worth up to an estimated $700 million in 2011 for just $65 million.

So Ocean Rig just got a 90.7% discount on a massive piece of equipment.

As gCaptain noted, Ocean Rig bought four of a similar type of rig from builder Samsung Heavy Industries in 2008 for $800 million each. The price for a barrel of crude at the time was as high as $140 — crude is now just above $40.

This isn't necessarily surprising. In an age when energy companies are becoming increasingly cost-conscious, offshore drilling is one of the most expensive types of drilling.

The seller of the rig, Brazilian firm Schahin Group, also tells a part of the energy industry story. The company is one of an ever increasing group of oil firms to go into bankruptcy and have to liquidate assets to survive.

So pretty much the read here is that the sale is a great deal for Ocean Rig, and another terrible sign for the industry.


OANDO/COP deal comes to mind. "Well Like i have been saying since last year, The Era of oil is dead and buried those that has ears let them hear"

*ThE OcToPuS*

nio68:
I now understand your constant warning to newbies, u probably learnt by gambling .. don't blame Sanusi.. you probably wouldn't do the same now if you knew then what you know now ...

If Sanusi is not a corperate thief?

Why then did he give
BANKPHB,
AFRIBANK,
SPRINGBANK
UNIONBANK,
FINBANK,
OCEANIC
INTERCONTINENTAL,
WEMA and
UNITYBANK

Till September 30 2011 to recapitalization while on 5th Aug 2011 been a Saturday.

He and his crimminally inclined cohorts SUDDENLY nationalized AFRIBANK, SPRINGBANK and BANKPHB.

Funny enough their northern agenda UNITYBANK passed the so called STRESS TEST.

Well that river i ve crossed it and I'm better off today.

It's now a lesson for the newbies and intending foreign investors to know how crooked things are done in the Nigeria Stock Exchange. Period!

*ThE OcToPuS*

carpenter:
Oga you invested your money with baboons. I see where your motivation comes from ...it is well.

http://www.nse.com.ng/Issuers-section/corporate-disclosures/delisted-companies

Over 70companies has been delisted since 2012 till date, Countless Initial Public Offers didnt see the light of the day and numerous Quoted coys has lost more than 90% of it value.

Now tell me the one thats not a BABOON among them

Godisfaithful:
One thing about you sir is that you always buy stocks at the lowest low and sell at the highest high. That's a very good talent and one really have to learned that from you. U mean N170 again?

Mind you on Aug 5th 2011, i have over 11m trapped in BankPHB shares Courtesy of Sanusi bank nationalization.

That's why it's called a STUCK MARKET or rather a gambling platform.

So newbies ought to know what they are really getting into.

*ThE OcToPuS*

fxuser:
sub N200 ! ! lol

In Feb 2005 I bought NESTLE N170 that was before the era soludo 25billion bank consolidation which made NSE to skyrocket abnormally.

Now that oil wealth is gone its no rocket science that we should expect a total market repricing before the year runs out.

*ThE OcToPuS*

If FLOURMILL with all it paparazzi can drop from above N100 to subN20 in less than 3yrs then bargain hunters should patiently wait for NESTLE @Sub N200.

*ThE OcToPuS*

http://mobile.reuters.com/article/idUSKCN0XH01U

Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut the nation's crude output by around half, with worries about an oversupplied market returning to the fore.

Concerns about an oil surplus were also reinforced by industry data that showed U.S. stockpiles rose last week.

Brent crude futures LCOc1 were down 82 cents at $43.21 a barrel at 0700 GMT.

U.S. crude CLc1 was down 94, or more than 2 percent, at $40.14, after dipping below $40 earlier.

A trade union said in a statement posted on its Twitter account on Tuesday that Kuwaiti oil and gas workers had ended the strike that had temporarily cut the OPEC member's crude production to as little as 1.1 million barrels per day (bpd) from about 3 million bpd.

By Tuesday, though, output had recovered to around 1.5 million bpd.

The end of the strike revived the bearish mood brought on by the failure of major producers on Sunday to agree to freeze output to help overcome a market imbalance that has caused a slump in prices since mid-2014.

"We were bearish before Doha. Prices had risen too far on false hopes of a deal. Now that this has been corrected, we're more neutral in our price outlook,"

http://tribuneonlineng.com/forex-policy-iberia-withdraws-services-from-nigeria


THE refusal of the Central Bank of Nigeria (CBN) to exempt foreign carriers from its forex policy has claimed its first casualty, with Iberia Airline pulling out of Nigeria.

According to information gathered late Tuesday, Iberia, the Spanish national carrier, was said to have taken the decision, in view of the financial predicaments brought upon it by the CBN forex policy, which prevented it from repatriating its proceeds made in Nigeria for many months now.

Since the introduction of the policy, the foreign airlines have over $500 million trapped in the various banks which they ought to have repatriated to their various home countries.

Prior to the decision of Iberia, many of the foreign carriers had expressed their displeasure at the CBN policy, with many threatening to withdraw their services from Nigeria if nothing was urgently done to reverse it.
Information gathered on Tuesday indicated that apart from Iberia, other foreign airlines had concluded plans to equally pull out of the country.

In view of the latest development, the foreign carriers are expected to meet with Vice-President Yemi Osinbajo in Abuja, today.

http://www.vanguardngr.com/2016/04/fuel-scarcity-owe-foreign-creditors-1bn-marketers/

FG should go ahead and pay with yuan of course

Manonamission:
The campaign against is person should be aborted. It is not necessary. There is no need to go dirty on one another.

Why bother flogging a dead horse. Check out his previous posts.

By this time last year out of sympathy i once quoted him and PERSONALLY warned him against buying OANDO @N17 unless if he wants to commit suicide

But his weak mind disobeyed *ThE OcToPuS* and went ahead to sign his own death warrant.

Now out of frustration his looking for those to take along to his grave.

While some of us are patiently waiting for the same OANDO @ N1:40k junction and at the same time watching out to exchange dollar @ higher rate

I guess you know who the sore loser is here

*ThE OcToPuS*

lancee:
Oil still dey go up ..with all the noise , i think it shld have been goin down to $15

Hard to predict

Anythin can happen

So you think its the day you cut a tree it dries up

jideflash:
CAVERTON REPORTS SLIGHT DROP IN REVENUE BUT PROFIT REMAINS FLAT FOR FY2015.

Revenue of N23.2b down by 7%, (N24.9b December 2015)
Operating Profit (excluding other income) of N2.5b down 32%, (N3.7b December 2015)
EBITDA also down by 10% year – on - year to N5.4bn in FY 2015.
Profit before tax of N1.7b down 35%, (N2.7b December 2014)
EPS is 29 kobo (29 kobo December 2014)

http://caverton-offshore.com/index.php/cosg-2015-fye-results-press-release

This was a company that was listed @N9 just less than 2yrs now trading @#1:70k and you want to tell me they ve not buried their shareholders alive

Justcul:
@Dumex, those are strong words, i suggest you update the post (except you have proofs). my one cent.

What else do you expect from a drowning person?

I vividly recall by this period last yearr I PERSONALLY advice that username not to kill himself when he want to buy OANDO @N17 but he refused and followed his dead conscience,

Now the result is out for all to see. if I'm lying may God judge the both of us.

For the benefit of doubt you can check my last year posts.

To the newbies forget the faces people come here to make.

Most of the NSE investors are walking corpses looking for who to draw along with to the grave.

Its no a rocket science that the Nigeria economy is at it lowest ebb and NSE bears the brunt most.

Infact earlier this year I travel down to Nigeria with some foreign investors to see if we can set up a franchise for our steel business but after much research we had no choice but to postpone till next year Dec due bad economy.

"SAVING LIFE's is what i was created for,
it is what i'm living for and it is what i will die for but the guns are yours"

Thank you.

*ThE OcToPuS*

Agbalowomeri:
What is he saying?

Don't worry by this time next week you will know what he's saying.

donmarshia:
This guy, you are so funny.

I am 90% certain that you have funds invested in NSE.

You are right but na my funds wey NSE don chop.

ufotty2001:
NSE still having the same problem.. not working!

So all this while that I was shouting STOCKMARGEDDON is loading.....!!!
you thought it was a joke.

Well i will advice you face your farming squarely, you can as well add a restaurant business to it. Thank me later.

As for the brave hearts that their funds were TRAPPED in NSE by the spirit of mammon that control that equatorial district is through with them.

Them go know say Khaki no be leather

*ThE OcToPuS*

PETERiCHY:
http://www.punchng.com/failure-to-save-oil-revenue-indefensible-sanusi/

The biblical Egyptian Story of 7years bountiful harvest that was followed by 7yrs of famine.
Is a prototype of what is currently going on in the global economy.
Invest wisely!

*ThE OcToPuS*

http://www.thisdaylive.com/index.php/2016/04/18/emefiele-predicts-economic-boom-for-nigeria-in-2018/

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the economy would experience a boom by the end of 2018 just as he hinted of a hike in interest rate by May this year at the monetary policy committee (MPC) of the apex bank following the inflation rate that has galloped to 12.4 per cent from 11.8 per cent.

Godisfaithful:
Sir, I guess Sir Peterichy had been dealt with by NSE in a very harsh and unprepared way. He should remember that whatever break one in life should be an opportunity for one to make a very undefeated comeback. He should not rejoice in what break him rather than look forward to the strength of his comeback! Seriously his individual personality and mode of his judgement is questionable. I wonder how he's going to be dealing with life unforeseen contingency when it arises? I'm learning so many things in this forum outside of stock market? May the good God continue to bless all our struggles and reward our trying for best!

I can see you are building your live around NSE which is not healthwise by now you ought to know that NSE is one of my hobbies.

Talk of life contingency I bet if you swim half of the river I ve swim in life by now you would hv gone to be with your ancestors so don't let us go there.

On a last note STOCK MARKET is the more you look the less you see so even if you are a stock broker I will advice your diversify into REAL ESTATE for a comfortable and better future. Thank me later.

*ThE OcToPuS*

ifeykay:
Peterichy,
It seems you got this one wrong again.
On Friday there was a notification from NSE for the planned Disaster recovery test on Saturday. This kind of test could be likened to a fire drill test which tests the reaction when there is real fire. In this case NSE has gone through that test which like any Disaster recovery outcome reveals preparedness or lack of it in real disaster. From the spillover of the system been down this morning only confirms NSE's unpreparedness in the event of disaster rather than manipulation as suggested in your post.
Remember our words define who we are. Write with verifiable facts.

Oga let's forget long grammar.

"An igbo adage says use rope tie goat and use goat tie rope all still be the same."

PETERiCHY:
It's likely Oscar Onyema will test his circuit breaker today e don tey wey the machine be dey holidays

I made this statement as early as 7am this morning, Now what is happening

Well aside Stockbrockers when i see those that take stock trading as a full time occupation,I keep SMH for them.

STOCK MARKET is a dangerous arena where you can deploy a little percentage of your monthly income.

If it works out good but if it doesn't then you move on with life and try next time when it's convenient for you.PERIOD!

That has been the nitty gritty of my message.

*ThE OcToPuS*

Manonamission:
Health is wealth my people. Please ensure you take good care of yourselves.

Certainly thats where alot of people miss it,

They ONLY think of making MONEY while some of us makes that so called money and still catch our fun.

May GOD open our eyes of UNDERSTANDING

*ThE OcToPuS*

angelo82:
NSE is not working at all.

Why will it work

When I was raising alarm on Saturday afternoon that the NSE manipulators went to tamper their gambling machine.

You guys tag me a pessimist some even said it's repricing for upward movement.

Make una no worry by the time they are through with their devious plans Una go know say Khaki no be leather.