₦airaland Forum

mikeapollo:
There would have to be an approval at AGM before such decision could be taken. Unity Bank shareholders are currently the majority in number and would not agree to such.
In the absence of such approval, the bank cannot go private, especially when they are merging with a public-listed entity like Unity Bank.
And it has been officially reported severally that Providus bank is preparing to list on NGX.

The Merger will be consummated through a Scheme of Merger (the “Scheme”) under Section 711 of
the Companies and Allied Matters Act, 2020 Act. Under the Scheme, Unity Bank will merge all its
assets, liabilities and undertakings with that of Providus Bank, with Providus Bank being the surviving
entity. Following the completion of the merger, Providus Bank will be rebranded and renamed
Providus-Unity Bank Limited (the Enlarged Bank” or the “Enlarged Entity”) to reflect the integration
of both institutions, subject to the provisions of the Scheme. Consequently, the entire issued share
capital of Unity Bank shall be cancelled and Unity Bank shall be dissolved without being wound up.

Sunrisepebble:
Whisper of 875k
NFA/DYOR

This our market no dey play with dividend.

Creditalerts:
Yes you may be right 😁bloom on cowrywise, big investments on STL MMF then Big on FAAM.NO CAPPING 👍🏾✌🏾

How can one register with trust bank mmf directly since we can't do that through cowrywise again

ositadima1:
Lol, this must be a joke. How the heck do you know he is down? Or are you listening to content creators? Half of them just come here to crack jokes and leave.

If anyone is likely to lose big money, it would be Mankind with his pattern of investing. Loco has always been a trader since 2020, from when I first met him here. Once a stock is not going his way, he is out.

It’s people like Pa Ema and the other long-term investors that will endure for the stock. If Presco starts dropping 10% daily, Oga will remain there and even buy more. Even after a 50% haircut, Loco can never do that.

And Agba? The last time we confirmed he bought anything was in 2022. He mostly comes here to destress.

You are also guilty of what you accused others of.
Just for your information, Agba has done 2 rounds of entering and exiting the market with good profits after the year 2022 you mentioned.

jckgroup1:
Monopoly.
Dangote no more a saviour of Nigerians and the best thing to happen to our economy. Dangote now a business man

I don't think the recent hike in petrol price is because of monopoly rather the other side of deregulation.
The government should look for way to manage a very volatile petroleum price.

wanaj0:
To all the gurus and gugurus eku market ooo

The bulls are raging. As it happens during flood/high tide, all boats are lifted.

Let us enjoy the season and prepare for the low tide season when everything will be exposed.

Congrats.

Welcome Boss

R

GeneralDae:
The dollar is strengthening and oil prices are now at $84 per barrel.

And the populace are paying more for petrol.
Inflation to go up again.

bassdow:
well if said issue is less than 1-week, then give them time. The one I shared between stanBic and quickteller, I waited for over 1-week before I made the first call. Imagine if I had decided to be disturbing myself everyday.

If issue is less than 1-week, wait for like 3 to 5 days and give a call. Before ending every Call, try and insist on getting a clear response to "When is the Network isse likely to be resolved ?" . If they tell you in 2-days time, wait like 3-days before calling again. And to save you the time, always ask for ticket id. Even when you call, they keep records hence if I call and they want me to start explaining myself all over again, I just ask they reference their records regarding the last time I called. I once ran a contact center hence know the flow whether call Center or contact Center.
No need getting frustrated unnecessarily as that wouldn't solve the issue. You no even know whether the staff attending to you don chop or pay e rent. We all hhave our private issues.
I for say make I help you BUT that would require sensitive details hence do am yourSelf. Don't bother sending messages. They're likely to get ignored.

Also note that whe issues such as this occurs, there definitely would be backLogs hence whenever they get issue resolved, they have to also clear those backLogs and mostly in FirstInFirstOut method.

Calling them out here would unlikely produce result because we don't even know if they have representatives here. mayBe calling them out on their social media platforms abi handles could be more productive.

I for say make you request for fund reversal BUT that na another work.

Why do you think you need to defend stanbic ibtc?
They are big,yes.
Efficiency,on a downward spiral.
Rate, poor and unattractive.
They are just behaving like someone who is already full who doesn't need food again.
Mind you I have been doing business with them for more than fifteen years.
They need to sit up and up their game.

pluto09:
https://africa.businessinsider.com/local/markets/kenya-fines-gt-bank-for-misleading-conduct-in-asl-dispute/ndbgrc3

,"The Competition Authority of Kenya has fined Guaranty Trust Bank Kenya Limited $257,000 for misleading and unfair conduct toward its client, ASL Limited.
GT Bank was also ordered to refund ASL $102,000 in wrongly applied charges.,"

Agbalowomeri:
Lol how many times you wan buy and sell ETI

Who would have thought that Nosa will be among the monkey hunters

Sunrisepebble:
No idea. I’m sitting on a lot of cash looking for what to buy next

Same here.

KarlTom:
WAPCO

https://doclib.ngxgroup.com/Financial_NewsDocs/Lafarge_Africa_Plc_2025_AFS.pdf

DIV: ₦6.00

@ Sunrise, my respect.

Stockpromoter:
All the tier 1 insurance companies are good but some of them already have bloated shares outstanding which I hate.

I like to play the low capitalized ones with improvements in balance sheets,less than 30% free floats.
Only Royalex fits wetin I want in insurance for now until I review again.
If they recapitalize without seeking to raise funds as I am guessing,it will be my best investment in the next 12 months.

Every mallam to his kettle

How will royal exchange recapitalise without raising funds?

ositadima1:
Two things, in my limited understanding, would make Dangote Sugar attractive again (for now until plantation mature): if the exchange rate falls to around ₦1,100 or lower, and if interest rates drop to about 10% or below.

We’ve seen this kind of accumulation before, only for the momentum to get crushed back to ₦60 or even lower. Dangote Sugar has a reputation for keeping its results under wraps until the official announcement, so don’t be surprised if the current rally is driven more by hope, and by the strong performance of other Dangote businesses than by hard numbers.

You and this Dangote sugar.

chimex38:
eee don reach where we dey buy back Dollar to prevent Naira Appreciation?
So there could be such a thing as excess-dollar?
#Good Omen.
What God can't do does not exist.

let it be sustainable sha.

The CBN is doing a good job but it is still a fragile thing..
The excess dollar is most from FPI chasing short term yield. They can run away as they came leaving us stranded again.

Agbalowomeri:
The battle of Ikenga

Now that the enemies have united, dem go serve us shege banza

Retail price of pms will most likely be inching up.

https://petroleumprice.ng/news/articles/breaking-dangote-refinery-resumes-petrol-sales-to-depot-owners-only

"Industry sources say the move aims to reduce volatility and restore confidence across the downstream value chain. Over the past five months, depot operators are estimated to have lost about ₦50 billion due to persistent price fluctuations. Dangote Refinery itself is also said to have absorbed losses exceeding ₦1 trillion during the same period."

mikeapollo:
So the NGX management too should be blamed and were wrong in suspending them? Zichis has played by the rules and done nothing wrong?

I don't think I have ever said that Zich was right.
I have no complaints with what NGX has done. They actually need to do more.

mikeapollo:
Then you should appreciate what folks are saying here because you and I could fall prey to such schemes.
There is no double standards here.
Any stock can reach a height if there is enough liquidity in the market to support it. In Zichis case, there was no liquidity (retail investors did not have it) but their management and brokers/registrars decided to deal a few 100,00s per day to gain 10% and push the price up to 900%. If there was genuine liquidity, some investors would be selling or buying so the price may go up, down or stabilize on some days, but not straight 10% daily for a whole month! Even MTN, Dangote Cement, Airtel etc. did not achieve that.

Everyone benefits when things are done right in the market.

I should blame myself and not the company if I should fall prey to those kind of manipulation on NGX

mikeapollo:
I don't even get it why you seem to support what Zichis or their stockbroker/registrar did.
If you are affected by the suspension, then I can understand how you feel.

I am not in support of what Zich did.
What i am against is the double standards that some people are exhibiting.
There have been some clear cases of manipulation before them which the same people supported just because they hold the stock.
I tried to buy the stock the first 2 days after they were listed purely for speculation with no success so I don't have any single unit of Zich.

unite4real:
so you still think outsiders and retails were buying. You seem to not understand the manipulation that was going on.
How can a company keep gaining 10% every trading day for 1 month non stop without retails buying in.

The regulators that suspended them knows better than you and if they felt what was going on was right, they would not have suspended them.

were they not asked to release the free float for trading?

please tell me how much is the free float currently.?

Everything about Zichis was CORPORATE GREED

There could have been manipulation and that is not my point.
A number of other companies could as well be guilty of manipulation.
If you care to know the free float of zich,can you tell me the free float of BUA food and BUA cement too?

unite4real:
i am sure you understand what 850% price gain is in one month. That is what Zicchis did

Can you name one company in the history of NGX that did same?

get the data for ones you mention as see for yourself

Is there any rules that limit the percentage gains a company can attain in a month??
Did they force anyone to buy?
If people see opportunity in the stock and they are ready to bid the price up by maximum allowed 10% daily why would I complain.

Harddiskng:
You have just been chatting your own since.

Point to another stock on NGX that has been doing 10 daily for over 2 weeks straight with little or next to nothing being sold to the public.

Some of you need to be hit on the head really hard for factory reset lol. The rot in Nigeria is so bad, most people see something bad and tell you there is nothing bad with it. Smh

Why the fixation on Zich?
Is it because many here could not get it to buy on the floor.
This is a company that is making profit and has a positive equity and yet many are quick to point an accusing finger.
Check out other companies being promoted by this same set of people (company with no profit and negative equity for years) who are criticizing Zich and you begin to see a pattern of double standards.
Why would someone justify the current price of ellah or NCR or FTNCOCOA or even tantalizer and be critical of Zich price?

mikeapollo:
You don't get it?
Listing by instroduction gives room for people to manipulate stocks trade volumes and prices, like we witnessed in Zichis.
But it does not mean that every other company that listed by introduction did the same thing. No all companies are the same.
The point is: block the loophole that is being abused (listing by introduction), and adopt the one that gives everybody a level playing ground with equal opportunity e.g. IPO or offer for sale.
No matter the rules, listing by introduction may not be as transparent as IPO and offer for sale

What gave people the opportunity to manipulate the share price of NCR

emmanuelewumi:
The main business is Poultry farm, the others are new and probably advised by the people who packaged them for listing in order to justify the premium added to the valuation by the time it will be listed.

As a matter of fact it is still on the growth section of NGX and still has to grow in order to be promoted to the main board of NGX

I don't think listing by introduction is the problem.
We have had many stocks in recent times moving in price with no justifiable fundamentals.
NCR, MECURE, DEAP CAPITAL, FTN among others.
What is needed is clear rules and strict enforcement.