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Nairaland Forum / Nairaland / General / Business / Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses (23038 Views)
Cadbury Nigeria Reports N28.2billion Loss In 2023, Shareholders’ Funds Wiped Out / Dangote Sugar Incurs ₦172 Billion In FOREX Losses, Ends 2023 With ₦108.9 Billion / Nestle Nigeria Posts N104bn Loss In 2023, Shareholders Funds Wiped Out (2) (3) (4)
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Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by baby124: 2:15pm On Mar 01 |
Binance users aka Obidients did this work. MTN better hold Binance for blockus. Some people on that platform must face death sentence. 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Bankkym: 2:16pm On Mar 01 |
sweetkev: This is the best news ever 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Chukwudi4naija(m): 2:16pm On Mar 01 |
MrSundry:Have you not noticed a massive change in Bank charges? 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Kusu12: 2:17pm On Mar 01 |
Obirodents have turned Nairaland to Wailingland, losers love wailing 4 Likes 1 Share |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Skillsnigeria: 2:17pm On Mar 01 |
Hmmm |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Bankkym: 2:17pm On Mar 01 |
This is a great news for Nigeria. |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Olamicwoto: 2:19pm On Mar 01 |
😄🙄🤭 everybody go collect 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Pristine664: 2:21pm On Mar 01 |
EyeCumInPiece: You are stucked with him till 2031 |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Typing: 2:22pm On Mar 01 |
Reelmii: Lie lie 1 Like
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Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Bfly: 2:24pm On Mar 01 |
Foreign companies must suffer from FX crisis 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Daniluv1(m): 2:27pm On Mar 01 |
Judolisco: Lol E reach to ask my bro Bro them be brothers and sisters only be say you go need go training to Sabi one inside the two and you already know the one wey I dey talk about Make Dem dey deceive themselves no difference my brother 3 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Oghene86: 2:29pm On Mar 01 |
References1: Hope those supporting this administration are affected by this, then they will realize the mistakes they made 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Gbeng30(m): 2:30pm On Mar 01 |
Tinubu's lack of plan and terrible policy will crumble many company in this country, less than a year in office all this is happening...we should just brace ourselves in this country, only God know what this country will look like in 4year under tinubu administration 5 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Teeklef(m): 2:31pm On Mar 01 |
Judolisco:Forex is advance sport betting. You need to learn how to trade on Forex but sporty bet doesn't need training. A mumu can register today and win 100k by luck. 2 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by sonofsteven: 2:32pm On Mar 01 |
Hope my money still dey intact |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by yewit37486: 2:32pm On Mar 01 |
Freestuffsng will soon come and tell us they actually made a massive profit and this is just "paper loss". Acknowledging the truth of a situation is the foundation of finding the solution out of it, instead of telling blatant lies. 5 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by OfficialAPCNig: 2:32pm On Mar 01 |
Tinubu incompetence don reach MTN 3 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by MichealOlajide: 2:33pm On Mar 01 |
franchasofficia: bro🤣🤣😭😭😭 2 Likes 1 Share |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by ArcSEMPECJ(m): 2:34pm On Mar 01 |
HungerLOKAN people will not like this news.... MTN should have employed the man that developed Lagos to be their overall Manager.... Anyway, even in this hardship, my Clients are always blessed to patronize my work..... Check my signature for details..... 2 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by maasoap(m): 2:36pm On Mar 01 |
Chukwudi4naija:For those who still use them 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Cmanforall: 2:37pm On Mar 01 |
Is this the new fraud? |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Svoboda(m): 2:37pm On Mar 01 |
Mayydayy: That mtn data is pure exaggeration. Let them exit the country if they cant Continue. |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by MichaelSokoto(m): 2:43pm On Mar 01 |
STEWpid:dey play! 1 Like
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Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Bluntemperor: 2:44pm On Mar 01 |
MrSundry: Does that tell you something,with these Companies involvement in FOREX racketeering? Go deep down,you will see how Nigerians, especially the Former CBN-Management,were having field day with all these Foreign Organisations and Businesses,just because of our greed, Unpatriotic y and Recklessness,by aiding and abetting these pseudonym,in pretence of buying and selling $Dollars- just because Mr Emiefiele and his gangs- who perfected all these Fraudulent practices criminally believed that they are above the law of Nigeria and since Politicians have been doing it,then they ( Banks can do it too) ! See how Binance ($,£),etc ,are regretting there Manipulative Actions and now the Naira to Dollars is coming down! Faithful Nigerians are waiting and watching,for what will happen to all these 'gbajue,' in business but pretending to be Nigerian Friends! •If is in China,North Korea, Malaysia, Singapore,etc,all these People- shady -Characters are gone forever! Very Despicable Activities! 4 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by TOPCRUISE(m): 2:45pm On Mar 01 |
Tinubu that is saying he is bringing in investors. And Ngelele ringing it in every media platform that investors from every globe are coming to Nigeria. Will those investors read this and be encouraged. 2 Likes |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by bhella10: 2:45pm On Mar 01 |
MTN too must collet 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Judolisco(m): 2:46pm On Mar 01 |
Teeklef:so u are saying they are technically the same? 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Judolisco(m): 2:47pm On Mar 01 |
Daniluv1:lol |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Thinktwicemybro: 2:51pm On Mar 01 |
AllTheWayUp:All white parties 1 Like |
Re: Shareholders Funds Wiped Out As MTN Nigeria Incurs N740bn FOREX Losses by Fgo31: 2:56pm On Mar 01 |
AllTheWayUp:. That is not always so. Most of big coys declaring losses have their parent companies abroad and also most of them have trading partners abroad who they buy materials and sells to and also get trade loan from so by the time they are translating for the year and also remitting back to their trade partners and parent companies, they do so in Dollars and not in naira because reporting will be done in dollars or in the parent companies country currency and not in naira so this will result in forex loss. If at the time P&G got a supply from its trade partner at N460/usd let say in May 2023 and when they are to remit back in November 2023, the rate is now N900/usd the losses incurred because of exchange losses will be massive. Likewise reporting/publishing of account at year end with the exchange rate of N935 at December 2023 compared to when the exchange rate was N460. The exchange rate losses will be massive. Compared with the our banks, Dangote cement, BUA and the likes who are indigenous companies and are also reporting their financials in Naira, the losses won't be felt much on these indigenous companies unlike their foreign companies counterparts. For every of dangote subsidiaries operating abroad by the time they are remitting to them, there will be an exchange gain for them because of rate of dollar to naira that is high. Also these banks trade with the free forex with them so when they make gain, they make mad gain 2 Likes |
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