yMcy56:

Started codedly from circa 27



Ok. Make we dey expect am.....

But Commercial Paper??
Nah Merger document we dey expect o.

Please ma can you suggest some stocks that I can be watching

Ajibade123:
Please ma can you suggest some stocks that I can be watching

Maybe this should be done thru mail.
You sent mail this week nah. So I still get your contact.

yMcy56:

Where's the link nah....
Not yet posted on NGX

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://businessday.ng/companies/article/dangote-sugar-refinery-taps-commercial-paper-market-for-n50bn/%3Famp%3D1&ved=2ahUKEwj1r4z1ib-EAxWeQUEAHWV_DKoQFnoECA0QBQ&usg=AOvVaw3v7il5MK8lxJJNiu6zY-zC

yMcy56:
FBNH @29....
The banks are looking like they're stabilizing and adding flesh to their previous sheddings....
GTCO up with +95k so far.....
ZENITH, ACCESS, FIDELITY, UBA refused to shed major weight so far......much defense from their sides...

Same access that is lagging behind uba with almost 3-4 naira

yMcy56:

Started codedly from circa 27.40



Ok. Make we dey expect am.....

But Commercial Paper??
Nah Merger document we dey expect o.

I even replied them asking them why commercial papers when the company will change name soon

Let the dollar and naira do its thing(the outcome is sad due to the malevolent individuals that heads the affairs), but you just made 10baggers for days such as these. Find opportunities that are present and will always be. Though not immediate(except lucky), but everything will work out fine once the minimum wage kicks in. It's just a reset. How quick we turn the tides rest on these not-so-benevolent leaders.

....

vacanci:


I even replied them asking them why commercial papers when the company will change name soon

how soon is it going to be?

They cannot give you a tangible response: they are just brokers/issuing house.

I also thought of (and queried) this move.
BM is on Wednesday. CP issuance closes on Tuesday.

Plenty gaps/questions but we'll wait until after BM...

vacanci:


I even replied them asking them why commercial papers when the company will change name soon

yMcy56:

Maybe this should be done thru mail.
You sent mail this week nah. So I still get your contact.

alright
thank you

Any plans to suspend Bank Accounts not yet linked to NIN number?🤔

CBN TO FREEZE BANK ACCOUNTS WITHOUT BVN, NIN STARTING APRIL 2024

The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. This is according to a Friday circular by the apex bank which instructed banks to place a “Post no Debit” restriction – which prevents customers from making withdrawals, transfers, or any other debits “for all existing Tier-1 accounts/wallets without BVN or NIN”. “Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted,” the circular by the CBN Director of Payments System Management Department Chibuzo Efobi, and the Director of Financial Policy and Regulation Department Haruna Mustapha read in part. It also said all BVN or NIN attached to accounts/wallets must be electronically revalidated by January 31, 2024,

According to the bank, a BVN or NIN verification will be “conducted shortly”, adding that the move is part of its efforts to promote financial system stability and strengthening of the Know Your Customer (KYC) procedures in financial institutions. The bank will also carry out a “comprehensive BVN and NIN audit shortly” and where breaches are identified, appropriate sanctions shall be applied. “The process for account opening shall commence by electronically retrieving BVN or NIN-related information from the NIBSS’ BVN or NIMC’s NIN databases and for same to become the primary information for onboarding of new customers, and all existing customer accounts/wallets for individuals with validated BVN shall be profiled in the NIBSS’ ICAD immediately and within 24hrs of opening accounts/wallets,” the CBN added. In cases where a potential customer does not have a BVN or NIN, the CBN advised the regulated financial institution to “commence the process of enrolling the individual onto the BVN database and be guided by the extant protocols issued by NIBSS”.

Dear Madam, please can you help me with your email address. Thank you in advance.

yMcy56:

Maybe this should be done thru mail.
You sent mail this week nah. So I still get your contact.

It's been mostly red this week. Let's see If today will give some respite

BuchyD:
It's been mostly red this week. Let's see If today will give some respite

Effects of Bonds and TB. We might get more depending on the outcome of the MPC meeting next week.

Ding!

https://doclib.ngxgroup.com/Financial_NewsDocs/40365_ARBICO_PLC.-_NOTICES_OF_EXTRA-ORDINARY_GENERAL_MEETING_(EGM)_-__EXTRA-ORDINARY_GENERAL_MEETING_(EGM)_FEBRUARY_2024.pdf

Arbico Plc want to delist from NGX

Hello house. Do companies pay dividend twice a year based on this information? Kindly explain please

debeey87:


Same access that is lagging behind uba with almost 3-4 naira

And is the almost N5 difference between the current price of Zenith and GTCO justified?

akpumpy:
Hello house. Do companies pay dividend twice a year based on this information? Kindly explain please

@akpumpy note that It’s not a rule that a company pays dividends twice or once a year rather dividend payment and the frequency of payment depends on the policy of the company concerned. There is no hard and fast rule about it.
All things being equal, a company that made profit is expected to pay its shareholders dividends, they can choose to pay it quarterly e.g Seplat, bi-annually e.g members of FUGAZ except FBNH, or annually which is the usual practice for many companies on NGX.
However, this has to be done following the regulators' guidelines and shareholders' approval when required..

akpumpy:
Hello house. Do companies pay dividend twice a year based on this information? Kindly explain please

Yes, some do. Some even pay 4times a year.
One is called Final dividend and paid at the release of year end result, while the rest may be interim dividends. There is also that which is called special dividend.

kaykehin:
Dear Madam, please can you help me with your email address. Thank you in advance.

Your PM replied.
You can check your junk mails

GTCO
Cross Deals and more cross deals @39.85...
Over N1.2bn spent in transactions so far....

Already, FBNH displaced UBA again......to be trailing ZEE behind...
FBNH : 29.05
UBA: 23.85
ACCESS: 21.10

TRANSCORP: Lots of interest in this stock in recent times.....

yMcy56:
GTCO
Cross Deals and more cross deals @39.85...
Over N1.2bn spent in transactions so far....

Already, FBNH displaced UBA again......to be trailing ZEE behind...

TRANSCORP: Lots of interest in this stock in recent times.....

What is happening to ACCESS?I am not understanding again.l hope that next week their results will roll out

You also noticed abi?
Coded transactions...

yMcy56:
GTCO
Cross Deals and more cross deals @39.85...
Over N1.2bn spent in transactions so far....

Already, FBNH displaced UBA again......to be trailing ZEE behind...

TRANSCORP: Lots of interest in this stock in recent times .....

sterlingD:
What is happening to ACCESS?I am not understanding again.l hope that next week their results will roll out

Nothing is happening to ACCESS!
I think trading here is just sentimentally based..
People may be skeptical on the result and the likely dividend payout.
Sentiment will turn positive once ACCESS delivers as per expectations. My opinion.

Another thing I noticed was/is the sell off by some people due to the demise of the CEO...... and, fear of uncertainty about a bank of this magnitude is unnecessary because adequate succession/continuity plan had been put in place, that the exit of anyone will not affect the Coy.
We can see it from the announcement of Ms. Agbede shortly after Herbert passed on.

yMcy56:

Nothing is happening to ACCESS!
I think trading here is just sentimentally based..
People may be skeptical on the result and the likely dividend payout.
Sentiment will turn positive once ACCESS delivers as per expectations. My opinion.

Another thing I noticed was/is the sell off by some people due to the demise of the CEO...... and, fear of uncertainty about a bank of this magnitude is unnecessary because adequate succession/continuity plan had been put in place, that the exit of anyone will not affect the Coy.

The rate of red AKA shedding is worrisome

sterlingD:

The rate of red AKA shedding is worrisome

It's well.
Patience is required at this stage.
It's not only ACCESS that was affected.

sterlingD:

What is happening to ACCESS?I am not understanding again.l hope that next week their results will roll out

The direction and price movement of stocks in the banking sector will be known when any of the banks release its dividend payout. Their is apprehension/uncertainty if the dividend they would pay can sustain their price. Until then, all that is happening now to the prices of banking stocks are just normal reaction from market operators.

yMcy56:

It's well.
Patience is required at this stage.
It's not only ACCESS that was affected.

@Mcy56, can you please help me with something?

If you use a broker other than Morgan Capital, could you provide me with their daily price list for Monday, February 19, 2024? It would be great if it contains the high, low, close, open, volume, value, and VWAP for each stock that day, similar to Morgan's format. I hope this is not too much to ask.

Thank you for your help.

Hello house,

For those using MorganCapital platform to trade, how do you set (ALL UNITS) or (NO SALE) bid/offer on their platform if it is possible?

Thank you.

Dear Esteemed Client,

We are pleased to inform you of the launch of Dangote Sugar Refinery PLC’s (“DSR” or “the Company” or “the Issuer”) debut Series 1 Commercial Paper offer of up to ₦50 billion under its ₦150bn Commercial Paper Issuance Programme (the “Offer”). The Offer is NOW OPEN and scheduled to close Tuesday, 27 February 2024.

DSR is Sub-Saharan Africa’s largest sugar refinery, with a combined installed refining capacity of 1.44 million metric tonnes per annum and a market share of about 55% in the retail space. The Company is a subsidiary of the Dangote Group and is engaged in the refining, distributing, and marketing of granulated sugar to wholesalers and top players in the skin care, food and beverage, and pharmaceutical industries.

For more information, please refer to the documents on this LINK for your appraisal of the Offer or Download the Commitment Form HERE.

Please see a summary of the offer below:

Kindly contact the Meristem Capital Limited Team at capital@meristemng.com or reach out to any of the following Team members should you require any clarification.