samguru:
https://thestreetjournal.org/just-in-buhari-relieves-godwin-emefiele-of-his-job-as-cbn-governor/

Seems Thestreetjournal took down the page.....

The argument now is that the President doesn't have the power to sack CBN Governor without the ratification of the Senate.....

So, we stay tuned to watch the drama....

** Update** https://nairametrics.com/2022/05/25/rumours-of-emefiele-sack-not-true-osita-nwanisiobi/

Oracle is right after all.

https://www.dailymail.co.uk/news/article-10841885/amp/Doctors-warn-significant-rise-UK-monkeypox-cases-surge-two-three-weeks.html

onegentleguy:


I think the market is currently structured to preempt and encourage folks to sell/exit certain coys.
Whoever decides to sell off at a loss will likely later lament on their decision though.

...best to HOLD!

Some persons/entities have been quietly but strategically aligning with some KEY equity names.

"Between uncertainties, difficulties and failures is the many 'gift packs' from the stock market.
...and inside those 'gifts' are smaller 'packs' with obstacles but which are sealed with CRAFT.
Yet down inside, are even more 'packs' of OPPORTUNITY."
~Sinclair

Btw, if the news is eventually confirmed, then I'd like that name in bold.

Regards

The Central Bank of Nigeria increased monetary policy rate from 11.5% to 13%.

The CBN mentioned several reasons for this action - to rein-in inflation, reverse capital outflows, attract foreign investors, discourage government borrowing etc.

As expected, we saw some sell off in the market, as higher yields make fixed income investments more attractive than equity investments.

This might continue if the CBN gradually raise rate over the coming months.

This development is positive for banks though. With yields now rising higher than funding cost, we may see increased net interest income for banks with large low-cost deposits especially GTCO, UBA, FBNH, ACCESS and Zenith.

Look to banks that are currently undervalued, especially GTCO. (CSL)

Got this email from Stanbic.

How does this affect UPDC and UPDC REIT?


Dear Esteemed Investor,

We are pleased to inform you about the recent update in the national scale long-term issuer rating of the UPDC REIT to A-(NG) from BBB(NG) previously assigned by the rating agency Global Credit Rating (GCR), with the outlook accorded as stable.



Concurrently, GCR has assigned UPDC REIT a national scale short-term Issuer rating of A2(NG). The update was a result of the change in the criteria for rating Real Estate Investment Trusts and other commercial property companies in January 2022 by GCR.

onegentleguy:
Likely impact of the MPC' decision on the mkt?

Well, the move should come as no surprise to many.
Other key African countries have also gone hawkish and raised rates in recent days. ...from South Africa to Kenya and Ghana.
Just few days ago, South Africa raised her interest rate by the highest margin in 6 yrs!

These policy was expected given the currency threat to EM nation's from the increasingly hawkish stance of the ECB and the US federal reserve following the passthrough impact of covid-induced supply-chain disruptions and more recently, the strain on purchasing power from accelerating inflation risk amidst the Russian-Ukraine crises.

While I think the MPC' decision could slow down the prospect of a positive tempo, I expect fundamentally sound names to "wither any storm" and maintain their upward price trajectory in the short to mid term.

Though I agree that it whould have been better to look to layer the increase accross several meetings.
Perhaps a 50bps increase over 3 or even a 75bps over 2 meetings... or something around that figure to achieve same goal. (the last thing you wanna do now is create panic for the domestic players who for some time have broadly sustained the overall mkt tempo)
Notwithstanding, it's best to not "postpone the evil day". Everyone knows the country is not in good shape.

From a macro-economic and investment standpoint, this move was necessary to tame down on the level of disconnect between the recent market dynamic and present economic reality.

Overall though, the move should help give some respite to the widening outflow to inflow gap by increasing the plausibility of FPI/DPIs taking advantage of a collapsed Naira to position in risk-free fixed income securities... BUT MORE SO in certain select KEY equity names where REAL RETURN still dwarfs the inherent reward from playing other asset classes and continues to print positive Nos net of surrounding risk.
...the comparative analysis of foreign/domestic mkt players suggest an increase (albiet sparing) in mkt appetite from the former. (ref: Feb, 2022)

This policy could help to further attract funds to EMs. (from bonds to equities)
The truth is; compared to it's African and other EM peers, the NGX is still very CHEAP! ...especially when you consider the present fundamental stance of certain select equities.

I think the mkt is currently in accumulation mood.
Any pullback in the next couple of days should only be seeing as an opportunity to strategically align with select KEY fundamentally healthy coys.

On a side note, I had the privilege of engaging in an interesting discuss with some great minds here and we all seem to agree on the part in bold.

It is well!

"One of the cardinal qualities of reaping reward from the market is in the ability to know HOW to drive THROUGH the fears of other investors and WHEN to drive AWAY from their excitement.
...it sums up what should be the psychology of a wining investor !!"
~Sinclair

Not all CHEAP is attractive. There are underlying issues that make investing in Nigeria by investors domiciled outside Nigeria unappealing. Stocks are CHEAP, because the dire socio-economic issues in Nigeria have led to hefty discounts and rightfully so.

Those that source and use Naira may fare better.

FBNH result. 35kobo dividend

https://doclib.ngxgroup.com/Financial_NewsDocs/36072_FBN_HOLDINGS_PLC%20_AUDITED_FINANCIAL_STATEMENT_FOR_2021.pdf

Heishere:
FBNH result. 35kobo dividend

https://doclib.ngxgroup.com/Financial_NewsDocs/36072_FBN_HOLDINGS_PLC%20_AUDITED_FINANCIAL_STATEMENT_FOR_2021.pdf

Poor dividend but excellent performance.
Eps from 2.45 to 4.17
Profit after tax from 89.7billion to 151billion.
The elephant could well be back again but lets look deeply into the result before concluding.

Mpeace:
Poor dividend but excellent performance.
Eps from 2.45 to 4.17
Profit after tax from 89.7billion to 151billion.
The elephant could well be back again but lets look deeply into the result before concluding.

FBNH results need to be looked into deeply to understand the reason for the poor dividend payout ratio that is less than 10% of EPS. Perhaps capital adequacy ratio issues as customer deposits has been growing nicely.

Mpeace:
Poor dividend but excellent performance.
Eps from 2.45 to 4.17
Profit after tax from 89.7billion to 151billion.
The elephant could well be back again but lets look deeply into the result before concluding.

Dividend per share reduced from 45 kobo for year 2020 to 35 kobo for year 2021.
Cash and cash equivalents for the Group at end of year 31 December 2021 was 1,456,967,000,000.

Heishere:
FBNH result. 35kobo dividend

https://doclib.ngxgroup.com/Financial_NewsDocs/36072_FBN_HOLDINGS_PLC%20_AUDITED_FINANCIAL_STATEMENT_FOR_2021.pdf

This is disappointing.
Was expecting much more than this 35k dividend.

BabsO2:


FBNH results need to be looked into deeply to understand the reason for the poor dividend payout ratio that is less than 10% of EPS. Perhaps capital adequacy ratio issues as customer deposits has been growing nicely.

The dividend payout is decided by both the directors of the bank and the CBN regulator.

FBNH Q4 2021
PAT: Almost doubled.....
Div payout: Below expectations compared to profit made........
FBNH/Analysts to provide more explanations to this.
https://doclib.ngxgroup.com/Financial_NewsDocs/36072_FBN_HOLDINGS_PLC%20_AUDITED_FINANCIAL_STATEMENT_FOR_2021.pdf

NIG ENAMELWARE
https://doclib.ngxgroup.com/Financial_NewsDocs/36071_NIGERIAN_ENAMELWARE_PLC%20_QUARTER_4_FINANCIAL_STATEMEN.pdf

Mpeace:
Poor dividend but excellent performance.
Eps from 2.45 to 4.17
Profit after tax from 89.7billion to 151billion.
The elephant could well be back again but lets look deeply into the result before concluding.

The Elephant is moving in the right direction from my layman's understanding. Standing back on one's feet takes time......
..but the Dividend could have at least be more than last year's own. It's not encouraging.

The way they were packing it, one would have thought there'll be special Dividend self.......would have been better if they'd released the result earlier too.

It's well. We wait for the Corporate announcement.

yMcy56:

The Elephant is moving in the right direction from my layman's understanding. Standing back on one's feet takes time......
..but the Dividend could have at least be more than last year's own. It's not encouraging.

The way they were packing it, one would have thought there'll be special Dividend self.......would have been better if they'd released the result earlier too.

It's well. We wait for the Corporate announcement.

Yes, we pray they the give a special dividend wen their corporate announcement is out. But the result shows they are close to catching up with gtco and zenith.

Mpeace:
Yes, we pray they the give a special dividend wen their corporate announcement is out. But the result shows they are close to catching up with gtco and zenith.

Well, if there's no special Dividend self, I think First Bank will still do well going forward. Let them put the profit to good use.

I also want to believe that the Dividend payout must have been influenced by CBN.
First Bank might have opted to pay higher Dividend but CBN's approval would have been final....putting some other variables into consideration.

Make Una manage am like that if there's no addition and be hoping for higher pay in future.

Good morning all, has anyone received Okomu oil dividend. I tot I was 25th may being yesterday

Mpeace:
Yes, we pray they the give a special dividend wen their corporate announcement is out. But the result shows they are close to catching up with gtco and zenith.

FBN still has a long way to go.
Profit was boosted by recovery of about 140b as other income.
They need to do more to get more income from the core banking business.

Received mine yesterday afternoon.

joedguy:
Good morning all, has anyone received Okomu oil dividend. I tot I was 25th may being yesterday

ggoldmine:
Received mine yesterday afternoon.

Ok thanks,Please wch bank do u use cos I use union bank, yet to receive mine

No dumping witness so far since market opens......
Low volumes across board so far......
Maybe it's too early to make this comment or not.......
Watching.......

GTB

joedguy:

Ok thanks,Please wch bank do u use cos I use union bank, yet to receive mine

ggoldmine:
GTB

ok. Hopefully will receive mine dis morning. Thanks

E Ku Market oo.
See as everywhere silent...

The slogan is have a strategy in place........


NAHCO: Think it was mentioned that people should look for pullback here and key-in, I'm sure someone like Peter will be waiting @N2........

GTCO is back to 23.......now sighted @23.50........
ZENITH: Back to 24.....

FBNH : Holding up so far.......and somehow looking up....
I'm sure Otedola would have been watching all of Una dumping yesterday and saying "well done, keep it coming to my junction"

yMcy56:
E Ku Market oo.
See as everywhere silent...

When we dey talk say make Una no dey panic anyhow, e go be like say dem dey deceive Una......

NAHCO: Think it was mentioned that people should look for pullback here and key-in, I'm sure someone like Peter will be waiting @N2......

GTCO is back to 23.......now sighted @23.50........

FBNH : Holding up so far.......and somehow looking up....
I'm sure Otedola would have been watching all of Una dumping yesterday and saying "well done, keep it coming to my junction"

These aren't the best season for some Nigerian banks!

megawealth01:
aren't the best season for some Nigerian banks!

Mega welcome.
Whatever, I'm sha happy that market stabilize.
Yesterday's dumping was somehow scary, must not continue like that. E no easy to dey lose money.

Besides, I think banking stocks aren't expensive. They didn't even partake in the recent bull, why will they still be shedding again? Not fair on people's investment nah.

Also, if interest rate goes up, wouldn't banks be a beneficiary?

yMcy56:

Mega welcome.
Whatever, I'm sha happy that market stabilize.
Yesterday's dumping was somehow scary, must not continue like that. E no easy to dey lose money.

Besides, I think banking stocks aren't expensive. They didn't even partake in the recent bull, why will they still be shedding again? Not fair on people's investment nah.

Also, if interest rate goes up, wouldn't banks be a beneficiary?

Do you really call that dumping?
I am not sure any bank lost maximum 10%

BTW, @Locodemy was sighted earlier......
Loco come out and say something, me I don miss you for here....
Dont let any insult get to you.
If insult wan pursue person, I for don run tey tey for here, but I don decide say na me carry myself come here, na me go carry myself commot when I'm ready to leave.

pluto09:
Do you really call that dumping?
I am not sure any bank lost maximum 10%

Boss, the good thing is that the shedding didn't continue o.

yMcy56:
E Ku Market oo.
See as everywhere silent...

When we dey talk say make Una no dey panic anyhow, e go be like say dem dey deceive Una......
The slogan is have a strategy in place........if you're not a swing trader, why jumping upandan at any flimsy news?

NAHCO: Think it was mentioned that people should look for pullback here and key-in, I'm sure someone like Peter will be waiting @N2......

GTCO is back to 23.......now sighted @23.50........
ZENITH: Back to 24.....

FBNH : Holding up so far.......and somehow looking up....
I'm sure Otedola would have been watching all of Una dumping yesterday and saying "well done, keep it coming to my junction"

In 2016 when Fed started to raise rates and CBN also raised rates in response, all stocks in the banking sector rose. Using GTB as example, see the chart below.

Check the monthly charts of other banks as at that period and similar trends will be seen.

yMcy56:

Boss, the good thing is that the shedding didn't continue o.

To some people, the good thing is for the shedding to continue..

pluto09:
To some people, the good thing is for the shedding to continue..

You're right anyway.

RabbiDoracle:
In 2016 when Fed started to raise rates and CBN also raised rates in response, all stocks in the banking sector rose. Using GTB as example, see the chart below.

Check the monthly charts of other banks as at that period and similar trends will be seen.

Boss you're doing well sir.

Maybe the rate hike is the catalyst the banks needed....