Hope this will have a positive impact on nairaland

Doro55:
What’s this that you guys are typing just K, L, etc on comment section? Please let’s act matured.

what you don't know just ask and don't just jump into conclusions, it's mostly done to take that position to avoid commenting late, after that we'll now go and read the news then come back and modify our opinions, but if you don't before you read finish, comments will flood those positions, which you first approached

dre11:


https://www.thecable.ng/breaking-cbn-stops-banks-from-utilising-fx-gains-caused-by-naira-devaluation/amp

Alright

ALCOHOLKILLS:
Useless regime, with stupid polices affecting the poor. Well i never expected anything good from a drug Lord. tinlupoo will be the worst Nigerian president selected by inec

dingbat

Talk true, You nor understand wetin dem write there



We learn every day

Money wey dem don chop finish

soojar:


Talk true, You nor understand wetin dem write there



We learn every day

says who, if you don't I do

dre11:


https://www.thecable.ng/breaking-cbn-stops-banks-from-utilising-fx-gains-caused-by-naira-devaluation/amp

They have always been the one gaining from of the difference in forex and exchange rate

Good policy from the CBN but the fact remains that the banks are not even thinking of utilising the FX gains to pay dividends.

Most of the banks that have so far declared HY dividends have the intention of paying what they paid same time last year.

Zenith and GT paid..50k as half year dividends and are paying the same this year. So also is Fidelity Bank. If they were to pay from the FX gains, the first two banks I mentioned will pay nothing less than N2 per share.

Good thinking by the apex bank because I as a shareholder will not want such to happen.

To the idiot that argued with me concerning shares the last time, I am looking forward to your comments.

Children on Nairaland forming what they are not.

Mrpojj:

They have always been the one gaining from of the difference in forex and exchange rate

Please don't say what you don't know.
You could have typed K, L,M like your contemporaries on the front page and move on.

ALCOHOLKILLS:
Useless regime, with stupid polices affecting the poor. Well i never expected anything good from a drug Lord. tinlupoo will be the worst Nigerian president selected by inec

dingbat

And if he becomes the worst, that will prolong your own life by twenty centimeters?

Are you sure you can continue with this for the next four years?

ALCOHOLKILLS:
Useless regime, with stupid polices affecting the poor. Well i never expected anything good from a drug Lord. tinlupoo will be the worst Nigerian president selected by inec

dingbat

I'm not sure you understand the topic and it's content.

ppogba:


And if he becomes the worst, that will prolong your own life by twenty centimeters?

Are you sure you can continue with this for the next four years?

8 years

You can try jump into onitsha River.

Your president is working you are wailing.

Make your pain go away.....jump into the river in case there is no transformer close to you 😄😄😄

ALCOHOLKILLS:
Useless regime, with stupid polices affecting the poor. Well i never expected anything good from a drug Lord. tinlupoo will be the worst Nigerian president selected by inec

dingbat

Doro55:
What’s this that you guys are typing just K, L, etc on comment section? Please let’s act matured.

Noob

ppogba:


Please don't say what you don't know.
You could have typed K, L,M like your contemporaries on the front page and move on.

Ohh so people type K,L,M
I didn't noticed
Am Not that jobless

This is a sucker punch by the CBN. Lets see how the currency respond.

dre11:


https://www.thecable.ng/breaking-cbn-stops-banks-from-utilising-fx-gains-caused-by-naira-devaluation/amp

Explanation:

You had $100 before the revaluation when dollar was 450/N; now that it's now 780/N, the difference of N230 shouldn't be given as dividend but kept as an asset in the balance sheet so that if the CBN decides to devalue back to N500, the N230 saved would be used to offset the loss.

It's called provisioning in accounting and part of the Prudential Guidelines of the apex bank.

all these na grammar

that should be part of their gains or loss because of inflation. what's wrong with this cbn?

Elliotwaveforec:
Explanation:

You had $100 before the revaluation when dollar was 450/N; now that it's now 780/N, the difference of N230 shouldn't be given as dividend but kept as an asset in the balance sheet so that if the CBN decides to devalue back to N500, the N230 saved would be used to offset the loss.

It's called provisioning in accounting and part of the Prudential Guidelines of the apex bank.

so they are not reinvesting their money?

ecolime:

Not just Banks, the entire financial industry is cashing out big time now. This is the reason for the preponderance of several Fintechs.

Despite these wins, the real sector e.g manufacturing is still struggling real bad.

Government should implement laws and ensure growth in the Financial industry oil and juice up other sectors.

these rules are CRAZY !!
crazy management !

Baba if you know so much about NSE why we non de see you for the NSE thread. I am sure we could do with some of of expertise as you seem to have displayed here.

ppogba:
Good policy from the CBN but the fact remains that the banks are not even thinking of utilising the FX gains to pay dividends.

Most of the banks that have so far declared HY dividends have the intention of paying what they paid same time last year.

Zenith and GT paid..50k as half year dividends and are paying the same this year. So also is Fidelity Bank. If they were to pay from the FX gains, the first two banks I mentioned will pay nothing less than N2 per share.

Good thinking by the apex bank because I as a shareholder will not want such to happen.

To the idiot that argued with me concerning shares the last time, I am looking forward to your comments.

Children on Nairaland forming what they are not.

ojesymsym:
Baba if you know so much about NSE why we non de see you for the NSE thread. I am sure we could do with some of of expertise as you seem to have displayed here.

Check at least the last two threads on NSE especially the ones about the all time high index and you will find me there GIDIGBA.

Thanks for your kind words though.

Ah sorry sir... My eyes be de deceive me.

ppogba:


Check at least the last two threads on NSE especially the ones about the all time high index and you will find me there GIDIGBA.

Thanks for your kind words though.

relagze:
This is a sucker punch by the CBN. Lets see how the currency respond.

There is no sucker punch here.

The big banks have already declared their dividends and did not factor in the astronomical profit as a result of the FX gain. If this had come before they did then, shareholders that are "hungry" for too much dividend would have felt let down.

Not paying dividend from the FX is "elementary, common=sensesical" accounting.

Meanwhile, the "response" of the currency has nothing to do about this.

The solution to our currency value is obviously more than fiscal policy.

ALCOHOLKILLS:


says who, if you don't I do

Really??

Please can you summarize for those of us who didn't understand?




We learn every day