ojesymsym:
I do not think there will be need for any future devaluation because the official rate is now just a little below the black market rate. That means they now move together

The issue is that fluctuations in both rates is too wide and doesn't make any sense for business.
You expect both NAFEX and black market to move together but the question is will, the rates not continue the perpetual upward move. We all expected the rates to osciallate between 800-1000 but that has not been the case.

I am interested in seeing what the NAFEX and black market rates will be by the end of the year

.

Streetinvestor2:
Go and buy more now.You will get your full at 1300-1350.I started warning your likes in stock trade when it was #1600..I told them to expect it at 1k by end of the yr but it looks it is going to happen faster.
Very soon we will be seeing them on third main land bridge. Why should dollar exchange in the first place above 1k even with the floating. The useless binance executive why is he on the run.The government should make sure they hang the one in custody. And I don't even know why they are still allowing the remaining 1500 bdc to operate. Let the bank handle all forex matter

Chief I don't know why you have issues with those who prefer to save in dollars o

The common man on the street is not the cause of the exchange rate debacle we are experiencing, the politicians are the one responsible for it. How many individuals that are not politically exposed can buy 10k at a go.

You are leaving the problem and facing the symptoms.

Without a drastic cut in bogus annual by FG, the devaluation is bound to continue



https://twitter.com/olumidecapital/status/1781664714558198012?t=rcopC6MuhFHI02CZJnVZQw&s=19


https://twitter.com/Imranmuhdz/status/1783716519748255831?t=gnCU8Uz1FnARYBGuP4w9SA&s=19

Where is Samguru. He just disappeared off.

Jaakay:
With the qualifications date for the bonus issue, is it safe to presume the merger cannot be before that date of May 6th? Since the stock will need to be on suspension technically before the merger.

If this holds, Dangote Sugar might fall below 40 at some point

Streetinvestor2:
The dollars speculators go collect soon.It may even stabilize earlier than my mid year projection. at #1500

The red you see today will likely not be thr by Monday. Don't allow anyone use your sweat to complete his cycle of hammering on nse.I did not come into nse because of mpc rates and didn't even know what mpc rates existed over 15 yrs ago when we started investing. The school fees we paid was because we didn't check company results we bought many because our brokers said so.Niaja economy is bound to do better than last government therefore nse MUST respond better .Pull back and panic sell is not bear

When I said naira was devalued officially to 1300 few weeks ago, you attacked like I was the one doing the devaluation

Anyways, I think CBN's focus now is an attempt to stabilise naira between 1300-1500. Hopefully they can achieve this as it will make life easy for everyone.

https://nairametrics.com/2024/01/31/new-cbn-circular-aims-to-curb-banks-forex-speculation-issues-guidelines-to-stop-it/

This could be why the banks are on red

Streetinvestor2:
You they mind some people. The official window which is controlled by demand and supply traded at the highest of the day at #1300 plus which can still trade tomorrow as low as 800 plus.The evil speculators who want to create panic came here to post rubbish. The think they are talking to illiterates.The budget which is our direction for the year remains at #800..

If the dollars like make e reach 5k.None of my business. My business is with naira just like Americans don't have business with naira.I can't even remember the last time I touched physical dollar in my hand so why should I worry about it.

Oga dey try calm down. The bolded is unnecessary.

The information about the exchange rate following the adoption of new method of pricing in the NAFEX is freely available online.


https://www.bloomberg.com/news/articles/2024-01-30/usd-ngn-naira-devaluation-sees-nigeria-s-currency-plunge-to-record?cmpid%3

This new round of devaluation may also mean around round of losses for lots of company in the manufacturing sector.

yMcy56:

You need to ask yourself why you bought in the first place.......
TRANSCORP is good but I think what may be causing the issue with it for now is their dividend history, since this is earning season......
TRANSCORP is not so generous with dividends but special news has always been it's strength.

I sense some people must have triggered this red in the market due to their over analysis and analysis-paralysis, most of the results that have come out so far are good, so I don't know why this bear came today....

If we talk about the ASI, this has been mostly driven up by the activities in the SWOOTs and Big Cap stocks, they have stronger influence on the ASI.

We'll see how the coming days be like sha

The red in the market is sponsored by official devaluation of naira to ₦1,300+ in the I&E.

People are probably taking profits, which is they are likely shifting to dollar since black market rate is expected to move towards 1700-1800 by the end of Q1 or by Q2, and 2k by September when foreign students start a new session


If not for Dangote Foods, me self for just carry my money run cos as person dey make profit na so devaluation dey pinch am

Toluway:

Nigeria is sinking very fast and those hoarding dollars are playing a prominent role. How do we know the quantum of dollars been hoarded at present?
Can our Naira ever appreciate if we continue to hoard available dollars, no matter how much forex the government is able to earn?
How do we salvage our forex and economy with so many enemies? Home based enemies.

Why are you always quick to blame those who decided to save themselves of the stress created by the looters through mismanagement of the economy. Everyone is free to protect their wealth in whatever ways they seem fit. If the government make a move on people's dollar stash in bank, people will move to crypto (stable coins)


Those stashing their legitimate earnings as dollar are not the problem, those printing naira embezzling it and converting it to dollar through the black market are the cause of the problem.

Deola028:
I think i need to follow this topic more. I recently opened afrinvestor2. I have my cscs number already. Every other thing is set. I just want to know what i can invest in with small money and how to read these trends and all, as a little earner and a newbie in stocks investment. All help would be appreciated

Wait until May before entering the market if you intend to do long term. By then you might be able to pick at a lower price

customstreet

Boss can you please hit us whenever your are privy to UCAP will be giving as dividend and also if bonus will be issued at the end of this financial year.

If I had acted on the information you gave about their 150k dividend last year, I would have exited at ₦15 before the price took a tumble after official declaration.

Sorry for quoting you on a different site outside NSEMPA, just felt you it might be better as it does not put in the spotlight as regards inside info

Thanks for all your tips 🙏

Mpeace:
Access bank did well today. The gap between Access and Uba has been narrowed down to 90kobo, from N3.

Wondering why Zenith has refused to close the gap with GTCO

aj8:


The average of the last 2 dividends x 10 comes very close to the peak price before the declaration of new dividends in anticipation that the new year's end should at least meet the previous year’s yield if the EPS has been surpassed or met. This is true for most of the banks that average a yield of 10% assuming the shares were bought just before the declaration at the peak price before declaration. That price should climb after the declaration to reflect the yield and prospects of the stock. For example, Zenith Bank pays about N3.50 on average which x 10 gives say N35.00. This price would hover about this price till new prospects emerge, then the climb. Notice also the price matches the last organic EPS x 4 ( adjust without the variations induced by the foreign exchange valuations). Same for UBA, GTCO, etc. You can cross-check, and notice they would roughly come within a Neighboring range of x4 eps-x5 eps or x10 dividends. The companies however with huge FDI yields average about 5% so best to use dividends x 20 approximately…. e.g. Breweries, Oil and gas, conglomerates, MTN, Airtel, etc. I only buy these stocks for price appreciation once the price shows it’s well below a price commensurate with a 5% yield e.g. NB at current price and sell off once it attains dividends x20. Holding such a stock till dividends would mean you have settled for a yield of about 5%.

In other words to put it simply… if sentiments anticipate a 5% yield meaning that those invested in the stock are happy with a 5% yield, then the price would reflect 5% but the earliest investors probably got the stocks at a premium. earning far more than the new investors e.g. Seplat. , NB, Guinness, etc. since they bought at prices far much lower in the past.

So check the average yield in the sector. That should help. But 10% for banks. (EPS X4 or dividends x 10 most times reflects the target price before new EPS or dividends) .

Would be happy to apply the calculations on the next report of a company with a good yield so you appreciate it better.

Hope this clarifies it a bit better.

Thanks for sharing a loads of knowledgeable information 🙏
This makes a lot of sense and will be useful for those of us still learning the ropes

Dum20:


Bro,

How much is dollar now?


The best thing is to look for opportunities on how to make money from the situation whether it goes up or down.

The people that have the power to make naira to gain value do not care.

oluayebenz:


Dum again 🙄

I'm speechless 😶

Lol

Dollar is going to test ₦1500 in the next rally, which will likely happen by February next year.
Demand for USD won't be much till the end of the year, also those returning from overseas will provide some liquidity during the festive period. That is a perfect time to buy.

Could remember buying some at 560-570 between late Dec 2021 and early Jan 2022, buy the end of January 2022, rate have risen to 620.

oluayebenz:


Oga

I predicted 700/USD

Are we not getting close?

What do you have to say now 😊

Lol

Chief we are still far off o. We never even reach sub 900. It is my prayer that I comes down to 700 and remains stable there. The instability of naira is not beneficial to anyone because it makes planning and projection very difficult

emmanuelewumi:




The keyword is invest invest and invest. The N1 million will buy 200 units of apartment (N5000 each) at Iponri housing estates and 250 units of apartments (N4000 each) at Amuwo Odofin housing estates. Those apartments at Iponri are now worth about N15 million each, while the ones at Amuwo Odofin are about N12 million each. Meaning that N1 million of 1983 is now worth N3 billion

Interesting.
This investment still beats devaluation

freeman67:



Same thing we said here when it was N360 and it has now crossed N1,000. Yet, they seem to be no end in sight.


Everybody can hoard or invest in Dollar. In fact majority of the populace don't even have enough to feed let alone save and hoard in Dollar. So the people you are trying to advice are knowledgeable about it. I know the new economic team have not started implementating their plans but once they do and it's shows any sign of effectiveness, everyone hoarding knows what to do.

Those who follow data wouldn't bother changing their stash. Data is very stubborn. The trend has been on the downward spin for ages 📉

Of course there will always be period of respite when naira will be relatively stable, that period is even the best time to circle profits and earning in naira into stable currencies .

oluayebenz:
If you are buying dollar at this rate for hoarding, just think twice....

I've said my own! We move🚶

The man with the $1 equals ₦700 hypothesis has come again

Since the time you claimed the true value of naira is ₦700, the value of naira has gone down by 30%

Yes the rate is really high at this time and it appear like it is risky to buy now. Nonetheless, any pull back will only put the rate at around 1k. Even if you buy at 1200, chances of making a loss in 6 months time is very slim. there is a high chance dollar will exchange for 1600 in six month times

Without obvious cuts in cost of governance, naira is not going to appreciate. Bulaba and his crew to still went to the US to waste $500k not too long ago, even when the country is cash strap.
That's the one we hear of, what of other frivolous spending we don't get to hear of

Iamblessed85:


I hope no one listens to this guy anymore on this thread. You and your numerous alternates like Mikeapolo, ProphetUtuocha etc should actually be banned. This is sad.

Now my entire capital is trapped there and loosing value because of you. You didn’t sound like you were guessing when you were promoting it. If only i knew it was for your personal and selfish gains.

I’m sure you also benefit from the posts of genuine people here, why repay them with evil?

pizapato:



You tend to forget that some neophyte take this kind of information as 100% reliable

Too much optimism is a trap in this market.

Na so dem hype Eterna till some people got trapped and continued to average down. Eterna is almost back to the price it was before it took off.

Any smart person will take profit when then can and leave others to continue to ride the bus

Some of us warned and emphasized the need for those that entered low to take profiting and not get carried away by the hype, while point out that it is now too risky for anyone to enter at 16.


I even used Eterna as an example that after pumping is over Oando will likely return back to base.


Oando is probably heading back to circa 7.6, which around where it took off.

Olaide1295:

When I saw that your post. I changed significant amount of my dollars to Naira (at 720) and bought a duplex house in Nigeria.
I made a terrible mistake. Being outside naija, I don’t even live in the house and it gives me no return.

I want believe you intend to quote the person I quoted.

My posts have always encouraged holding USD even if naira appreciates and rates fall.
I still bought some USD at 910 when I took some profit from the stock market and I wouldn't mind if rates fall to 750 today, because it presents me the opportunity to buy more at a lower rate.
Whoever plans on holding (saving in) USD for long term wouldn't even have cause to worry about daily movement of the rate.

Since 2020, the naira has depreciated by at least 20% yearly. Any naira based investment with a yield below 20% is a loss. This year the rate was around 730+ at the start of the year, meaning we had over 30% devaluation this year alone.

Like someone posted earlier, invest in naira, save in dollar

oluayebenz:


True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

oluayebenz:


Till then.

Will quote you

I come again to quote you now as dollar has eventually touched 1k

Are you still holding unto your hypothesis that the true value of dollar below 700?

I was thinking 1k5 will happen in 2025 but the way it is going by mid 2024, we will likely be seeing 1k5.

Of course I still hold some naira invested in stocks where profit can beat devaluation, I however do not have blind optimism that naira will be stable in the next 2 years.

Believing that the corrupt government of APC will stabilize the naira is like hoping the Atlantic will turn to dry land

yMcy56:

I like when people challenge, speak up and correct like this.....,..not that they'll be silent and be hating unnecessarily.

First off, in one of my earlier posts on OANDO in response to someone, I mentioned a 50/50 chances of Oando going up to N15+ or remain below N7......bros, it happened in our korokoro eyes even if many didn't believe it. I bet you don't even know my source of info on it......

Na so I hype ETERNA too, YES! The same way I've hyped FIDELITY from N1.70, CHAMS from 20/25k, UCAP from N3, JAPAUL from 20/25k, UBA, SEPLAT, MANSARD.......in fact, almost all the stocks on NSE at different times following Mr. Market and news and some bit of my little research too.

I still have the ETERNA that I picked at around 26, so don't think I was exempted from these losses too but I do hold on to what I Blvd no matter the analysis paralysis here.....if it doesn't go according to expectations, well, it's all well and good......I carry my L in peace.

I don't hesitate to mention here that I've been following the dictates of Mr. Market and that I'm not the one recommending some of these stocks at different times but the gurus.

Change is constant but very difficult for many to embrace it because of the past, so it's normal among humans.

Bros, my Ogas will say: You win some you lose some, just let your wins be more than lose, C'est fini !!

If una like, make una monkey label me from today till tomorrow, e no go change anything........you can do well to warn NSEMPAS to stop taking me and post serious again, think that'll be good.
* As for OANDO, you can do well to edit that figure in my quoted post, maybe you're right that it's too much of optimism, I'll edit it too. Thanks.

Madam I no dey attack you o.
You contributions have been valuable on this platform.

My comments is based on my own little experience. If a stock has done full bid for a few days, it becomes too risky and might not be the best recommendation for those with little know knowledge of the market.

Of course those who don't mind the risk of potential loss can hitch on the ride

ositadima1:


My trading goals as a learner:
--------*---*--------*---*--------*---*--------*---*
1. Protect my principal first.
2. Don't let a large profit turn into a small profit.
3. Don't let a small profit turn into a loss.
2. Don't let a small loss turn into a large loss.

This can't be overemphasized

yMcy56:
Traders, make una no dey spoil this our market for us o
All these theories on top say OANDO pulled back today!

What you Ogas are saying is not a one way thing......and you seems to completely sideline the investors here.

If you say sell once price begins to fall, what of a situation where it's just a pullback and the following trading period it begins upward journey again?

- OANDO as case study........got to 7/7.20 and pullback happened.....just to continue the upward trend thereafter again, same happened at circa 10/10.25 or so, also @16 today.....
IF at all it should resume Northwards journey to 20/25 after this pullback again, hope you won't come up with another morals.

Lol.make una no mind me.

You tend to forget that some neophyte take this kind of information as 100% reliable

Too much optimism is a trap in this market.

Na so dem hype Eterna till some people got trapped and continued to average down. Eterna is almost back to the price it was before it took off.

Any smart person will take profit when then can and leave others to continue to ride the bus

Aniedi30:
When we started using gas on Gen..I knew dis will come is even earlier than I expected...I won't be surprise if gas go later cost pass petrol for that Country

Has nothing to do with using gas to power gen. The price of oil and gas is totally deregulated which means price is determined by price in the global market.

At the moment gas is expensive globally because of increase energy demand during the winter.
By March (spring), price will crash again

jideflash:
Ucap had a fantastic result. But refuse to add the comprenhensive income when calculating their EPS. This is to disguise the gains, while their insiders mop up the shares. I suspect a bonus issue soon. Ucap at 15naira is a steal. 20-25 naira is the target in 6months

For some time now, bids has always been more than offer yet price didn't move. I guess they kept the price down on purpose while they mop up at a low price .

maishai:
Dollar is currently at 950, but i still get this creeps that there will be a crash in the price to about 600.......

How it would be done i don't know but i dont trust Nigerian regulators. They know how to attract prey and slaughter them like pigs

Any way i can only watch from side lines

Where will they see dollar to crash it to 600.
People had this same feeling that it will crash back to 400 when dollar was 480, today we are seeing 950.

Not to be pessimistic but we may see 1500 by the end of next year. Once rate cross over 1000, expect a rapid decline to 1500.

Chikebrain:
Please to all dorm acct users/owners. Can I do a dorm acct (dollar denominated) transfer to another bank dorm acct with usd cash deposited to my dorm acct?

Yes. You can do interbank transfer.
You also can transfer outside Nigeria as I've done that a few times

Available for sale
Location: Akure

‎Leather Couch [3 seater, 2 seater and 1 seater (2)] - 250k (4 throw pillows as gift)

‎MDF TV Console - 20k

‎7kg LG Washing Machine - 75k

‎1 Brown Aluminium Blind - 15k

‎ 6×6 Wooden Bedframe & Mattress + Beside Cabinet  - 150k

‎4.5×6 Wooden Bedframe & Mattress - 90k

‎MDF Cabinet (for Baby clothes) - 30k

‎MDF Shoe Rack - 15k

‎Monitor - 15k

‎DSTV -10k

‎Bicycle - 25k

‎Blanco standing Fan - 8k

‎Shaggy Center rug -18k

‎‎1.5Kva Inverter + 180AH GBM battery - 180k

‎‎Floor Lamp - 35k

Jakumo:


Don't get drunk on a plane because at altitude the effect of alcohol is multiplied. Say no to alcohol in general. That chit is poison.

Big lie.

I always drink red whine through out my flight. The effect is not multipled kankan