₦airaland Forum

It is Creative Accounting (Window dressing). For you to know the extent of the fraud, check intercompany payable and receivable. You will discovered that most of the group funds are stock there. Unfortunately, you can not get the ledgers because AFS is summary.
Talking about principles all will be done in line with Accounting principles, but most fraudulent transactions are hidden there. All what you said are theory.

This is my field I know what I'm talking about.

mikeapollo:
I don't agree with this, in principle.
My disagreement is not specific to company in Nigeria, but based on principle only.

The number and nature of intercompany transactions would depend on a company's Group structure, geo-locations of subsidiaries, capital equipment, raw material and service sourcing opportunities, supply chain and logistics, transfer pricing and tax laws applicable at subsidiary locations, forex availability issues, nature of business e.g. manufacturing, etc.
Some multinational Group companies have subsidiaries and business interests spread across several industries, sectors in several countries across different continents; and the above factors make it inevitable for them to have many intercompany transactions.

Speaking from experience.

Dey play!

CFO report in manner that the CEO & the board want it to be.

Any company that has so many intercompany transactions is a fraudulent company.

BabsO2:
Great comment. If the CFO cannot maintain bookkeeping practices that can be audited quickly without back-and-forth delays, he or she should be replaced with a more competent person.

Thanks.

Wrong tag

megawealth01:
Wrong tag ooooo

Agba no dey talk about Oando oooo because the vawulence there no easy because anyone wey talk go collect

Dey play!

CFO report in manner that the CEO & the board want it to be.

Any company that has so many intercompany transactions is a fraudulent company.

Agbalowomeri:
Maybe in the medium to long term. If they are not defending the naira, it could take sometime to show. Me think the exchange has been relatively stable for several months. At least to halt the rapid decline first before it start reversing

So foreign portfolio managers who asked him the question on Net-foreign reserve, and the Deputy CBN Governor on Policies who responded that they will give the information in Q1 2025 don't know anything than you abi ?

Well done sir.

Agbalowomeri:
But foreign reserve is foreign reserve. Obligations no join for the matter. Even the US is in a large negative. Let them keep building the foreign reserve. At least, it is a positive in one direction

Don't mind CBN Governor with his misleading information, he was asked Net-foreign reserve, he couldn't give the information. They said they will work on it and disclose it Q1 2025. I know the net will be negative figure. How can you be declaring assets and ignore the obligations?

megawealth01:
Foreign reserves rise to $40.2bn in October – Cardoso

https://businessday.ng/uncategorized/article/foreign-reserves-rise-to-40-2bn-in-october-cardoso/

I see Japaul doing the wonder soon!

mikeapollo:
Never say never in NSE/NGX!
Look, both IB and Unity Bank can still do an Oando if there is any sudden foreign acquisition or injection of funds by a major international player. You can never be too sure of these things.
Oando turned around faster because of the ENI deal, even though some of us had realized years back that it was too undervalued for a very long time. Nobody knew that ENI deal was coming!
Any stocks that has remained undervalued and stagnant for a long time can do "an Oando" e.g. Ikeja Hotels was selling around N1.00 some months ago.
The real issue is that we don't know the actual sequence and timing of events so that we could buy and take position just before the steady rise in price begins, unless an insider.
Even Oando itself did not have a straight journey from May to Sep2024. It still went down in May-June 2024. The steady rise started around Jul/Aug after the ENI deal was officially announced as complete.

Capital market is like a gangan drum, what faces a person is backing another person, we don't need to do banter as if it is APC vs PDP or Man Utd vs Chelsea. Access bank has the biggest total assets in the banking sector, yet the price of GTB and Zenith is like 2ce of it, both banks declared better profit and dividend, to some people GTB and Zenith are efficient while some will say Access has a future prospect. 2 truth can coexist. Despite Wale failed promises for several years some people still believe in Oando. Aradel has been consistent in profitability and dividend, but some people are throwing banter because the stock lose today. Aradel traded over 20B naira worth of value in a trading day this week. Do we think those investors are fools or just want to throw money around ? How many stocks has traded 20B naira a day in this year? I don't think there is any.
We have Investors, Traders and gamblers in capital markets and the strategy for each differs. Please don't let us create fear in new biz mind, we need to tune down the level of banter in this platform.

Two truth can coexist.

N.B: I do not have investment in both Oando and Aradel, but I noticed that we are about to have a new quarrel on the 2 stocks.

Thank you all.

ositadima1:
Anyway, there will always be loopholes in tax laws. Robert Kiyosaki, author of 'Rich Dad Poor Dad,' has written a whole book on legal tax evasion strategies in the US.

It is called TAX AVOIDANCE, tax evasion is a criminal offence, but tax avoidance isa not.

GeeKudi:
From AI

Saying that shareholders are not paying tax is not totally correct, stamp duty is form of tax on an asset which is chargeable on shares. Is the rate okay? NO, this is because we have lazy tax administrators.

Even in the UK stamp duty on purchase of house if you're not a first time buyer is 3%.

Attached is the rate of stamp duty in Nieria

I think JAPAULGOLD has found support around 2.5 to 2.6

It is easier said than done, all human being has tendency of greed that's why economist says human want are insatiable. There are people who has made over 500% margin on O&O but still hold on it.

RodgersAkpafu:
greed

me that will jump up and down if I ever get to even £4m networth

someone messed up $400m

megawealth01:

We small investors are investing to make money and grow our portfolio, unlike the HNIs who are after board control.

thebargainhunte:
He that is down fears no fall. I don't really know where to channel the funds after my exist. I am even praying for more falls for the stock, I will load it more.

You're the CEO of your portfolio. You know what is best for you.

Cheers!

It wasn't the largest percentage in portfolio then, I think it was about 20% of my portfolio. Like I said I have recovered all the losses and now at positive

Willie2015:
One of the demerits of allocating...
large percentage of trading acct to a single stock ....
Its either a straight miss or classic hit...

megawealth01:
Exiting ALHAJI PRODUCTS isn't the best advise if he is a long term trader/investor

Those who bought into Alhaji should have known that they are buying long term.

Patience is a virtue

DYOR

There is nothing wrong in exiting and come back for it later, imagine if he had exited when it was N55, and invest elsewhere to make just 10% then come back for Alhaji now that is N30.

thebargainhunte:
You are still better than me. I bought large volume of the stock with 80% of my trading account. My investment in Oando couldn't offset the loss I recorded in Dangsugar.

Sorry for the loss, that is capital market. You lose some, you win some. Just have a strategy for your investment policy. Define your loss tolerance level and profit taking level. I bought 120k units of BUACEMENT @ N180, I couldn't sell at a loss for almost 4 months because it was always on full offer, I ended up selling it at 140, 120 and 102, but i recovered the loss within few weeks with FBN, Japaul, Jaiz, and ELLAHLAKES. I will advise you to exit and position elsewhere.

Please leave this guy, he has been attacking everyone who cautioned him. The pain of loss of potential profit in Oando caused it which I understand, but he should blame himself. I sold my 5m units of Oando @ N14 which I bought @ N7, was I pained when Oando did magic? YES, did I regret selling or blame anyone? NO.
An experienced investor will placed caution in Oando because of the court case and Wale style. If Wale can do abracadabra to acquire Agip, he can do same if he is bent on delisting. Few days after I sold my caverton at loss @ 1.4 the stock started the rally and I decided not to join the moving train. 2 days after I completed my purchase on ELLAHLAKES the rally began. I have made over 60% ROI. In stocks you gain and loss some. You can never always beat the market. Stick to your strategy and modify it when you get information, but never blame anyone for the decision you take.

ice234:
My point is very simple. You are an adult and not a baby. Why are you hell bent on blaming someone for a decision you took. He didn't force you to sell.

In all your blame game, have you taken out time to look in the mirror and blame yourself for the decision you took?

The problem I see here is you not taking responsibility for your decision.

The steps to healing are
1. Admitting that the decision to sell isn't a good one
2. Blame yourself solemnly for that decision.
3. Understand that this is a public domain, anyone can have a say on anything, when things they know nothing about.
4. Employment the services of a good financial advisor going forward.
5. Never blame anyone for decisions taken in this your journey on earth.
6. Analyze every advice given to your without any sentiments and without choosing a side.
7. Be kind with your words especially in a public domain.

Calling someone a servant of Satan is not fair, if Oando lost value to N5 would you call him that? You took the decision yourself, he never forced you to do that at gun point. Statement like this could make people withheld vital opinions that could be useful for investment decisions

SonofElElyonRet:
Never said i wanted to commit suicide. Why would i ? I am a professional and have other sources of income. Also i didn't lose a dime. I bought at N18 and sold N29. I was somewhat depressed because i lost the opportunity to make a kill. I had a huge quantity of oando. You made me sell you servant of Satan who went about on this forum concretely spreading panic. It wasn't a case of you unintentionally giving a wrong advice but a case deliberate spreading of fear and panic. You are evil and shameless. I've moved on actually and I've even bought more shares in other companies and will still buy more. Shame on you..

yMcy56:
ELLAHLAKES
- Change of Registrar
- Now using Cordros Registrars....(no longer Cardinal Stones)

https://doclib.ngxgroup.com/Financial_NewsDocs/42198_ELLAH_LAKES_PLC.-ELLAH_LAKES_PLC-PRESS_RELEASE_ON_CHANGE_OF_REGISTRAR_CORPORATE_ACTIONS_SEPTEMBER_2024.pdf

More change still in the pipeline

You said paparazzi?

MBC stockbroker is a major shareholder in ELLAHLAKES, they have over 350m units. Do you know it takes certain level of confidence for a creditors to do Debt to Equity conversion.

Streetinvestor2:
It was said here in the past that ellah lake claimed they are already into food crops for immediate revenues while waiting the palm plants because it takes sometime.Are you saying they have not started anything yet.i don't understand. What have they been doing since 2022.
Pls what was the purpose of taking stockbrokers who buy and sell thr stock for the paparazzi. This I don't understand. If I am not wrong. I have never seen it happen all my yrs in this business. What are the function of a stock broker

KarlTom:
Same with Asue Ighodale (NB).

I don't know anything about that

ojeysky:
Well with Naija politics ellahlakes faith may be hanging, nothing can be certain yet.

I said it a few weeks ago that something is cooking in ELLAHLAKES wait till it is done. You know ELLAHLAKES has massive investment in Edo state.
Soup go soon done

Streetinvestor2:
Pls how is akpata and ellahlake related.

Immediate past chairman, he resigned because of election

Akpata lost election and he is no going for tribunal. Hold your ELLAHLAKES tight to your chest. Politics is part of NGX. Ask Trancorp, Oando & Caverton investors

faoogoke:
Ellah Lakes don dey tear race.

Something is obviously cooking

I was referring to this.

BullBearMkt:
...read between the lines, they're not attacking you

You get the point my dear. I don't know why they see caution as attack

Omooloriredade:
I'm more concerned about his security. A quick check of his activities here shows it might be a careless act.

If you can take steps to cover your online tracks, then all good. In the world we live today, we don't know who is monitoring us. Make God help us.

The screenshot is unnecessary, we have people here with portfolio of 500m and they maintained their silence.

designking:
Today was a very positive trading day. A lot of Nairaland most discussed stocks grew.

My portfolio grew by over ₦240k today.

megawealth01:
Another power tussle in motion?

Exactly, the best time to sell not to buy because after the fight settle dust a bit, the price will crash.

You are genius! Also remember that they have changed their accounting year to December to align with other listed companies.

Omooloriredade:
I am still conducting due diligence on Ellah Lakes. The 2024 annual report should put some meat on the bones of the recently released Q4 results. It should be out in about two weeks or so.

CBO capital is looking to meet the free float requirement of the NGX so that has put a damper on the SP lately. Debt for equity swaps and equity distribution to their shareholders mean they can come to the market to convert to cash which is what I believe has been happening. SP is not my concern or focus though.

For me, it's about putting the puzzle together. So please give us something to play with.

I like to think of the stock market and investors this way: A set of Photo Puzzle

1. Some of us don't know where to search for the parts.
2. Some of us know where to search but can't put them together. We need a photo guide which often doesn't exist.
3. Some of us can put them together but don't have the complete set. I'd say it's practically impossible to have a complete set.
4. Some of us prefer that the parts are put together by management, then we assess the outcome to see if we like the final picture.

Whichever category we find ourselves largely informs our investment decisions and timing.

I love me a game of puzzles. I feel like I have made considerable progress but some parts are missing and in some cases I need clarifications which the annual report might provide.

Disclaimer - Please do not buy or sell Ellah Lakes based on my post. You could lose your hard earned capital.

thebargainhunte:
People will bark, cry and lament, but it won't stop Oando from crossing over #100 soonest. You can write your book of lamentations and past experiences in Oando, but the northern journey is rest assured. Follow the money!

You guys need to stop all these banter, it's childish

Watch out for ELLAHLAKES, something is about to be cooked!