Roland17:




Like I always say, part of Nigeria's major problem is lack of strong institutions.

Betting has to be absolutely regulated with stringent rules, otherwise it is would be abused by the betting companies and it's users. By the time regulations come, these early birds would have relegated and feasted on Nigerians.

Setting daily limit is very important, especially in a country like Nigeria.

raumdeuter:


If na the time wey Banks dey get Dollar at official rate, Na to find money float bank just for dollar round tripping

10bn na $6m

larride:
Law firms and investment banks about to eat good this period.

raumdeuter:


Shebi I analyzed this same thing to Sportsweb. It's not statistically possible to be profitable in the short nor long run with sport betting

Those who write the odds are not fools

OasisX:




.......Cardi B is different from Meffy. Operation step up or step out.

User09:


Is there a way I can get the circular?

Can you share with me

OasisX:



“For existing banks, the minimum capital specified above shall comprise paid up capital and share premium. For the avoidance of doubt, the new capital requirement shall NOT be based on shareholders fund”

PBAT is stlll Warning up, Nigeria must be fixed by all means possible.

OasisX:





.......check below.

https://twitter.com/cenbank/status/1773458439911403713?t=ZqhH9S9kBjxf8KbVBA8jLQ&s=19

User09:


Hmm...Another dollar injection coming in.

Naira may go on a strengthening spree for a while

User09:


Well....

How many banks meet the 500bn criteria though?

larride:


For the international spread, GT, Access, Stanbic IBTC, Zenith, UBA, First Bank will most likely meet the criteria.

Those tier 1 banks, most of them have a market capitalization of over 1 trillion or close to 1 trillion.

User09:


I doubt they do

Remember its strictly Share capital and Premium. If I remember correctly, Zenith which is one of the biggest is just around 300bn plus.

Most of them will have to raise or merge

Roland17:


If a betting company sets $100 as the highest (limit) amount for a prop, I can not wager $101, even if I have it because it will be declined. Without the limit set at $100, I could wager $1000 on that prop and if I win, it increases my cash out. Simply put, everyone is held to the same limit, irrespective of your pocket. That is the way the companies regulate what you can wager.

larride:


That's true but I believe they will raise the sum needed easily.

Access bank already announced this morning that they are going to raise $1.5bn for their expansion through rights issue.

Most of the tier 1 banks are already prepared for this recapitalization since Cardoso mentioned it during his first dinner night with bankers.

https://www.bloomberg.com/news/articles/2024-03-28/nigeria-s-biggest-bank-plans-to-raise-1-8-billion-for-expansion?srnd=economics-v2

Roland17:


I see your angu. People should bet what they can afford to lose. Whenever Bet ads come up on TV or any screen, they always reiterate that warning.

User09:


Lol.

Someone probably snitched or they saw it coming from CBN.

Yeah...It's obvious forex injection is the most likely option or maybe a merger or a downgrade

User09:


I doubt they do

Remember its strictly Share capital and Premium. If I remember correctly, Zenith which is one of the biggest is just around 300bn plus.

Most of them will have to raise or merge

Itsrm:


Saw this. Banks like unity and jaiz bank are gone.

https://twitter.com/ugodre/status/1773465870221611233/photo/1

larride:


Wow. Didnt know Ecobank is this strong.

Itsrm:


Was also surprised. Maybe it has to do with them having international exposure.

Meanwhile, northerners are saying it's a plan to take out northerners from the banking industry just as Soludo did

Itsrm:


Saw this. Banks like unity and jaiz bank are gone.

https://twitter.com/ugodre/status/1773465870221611233/photo/1

Itsrm:


Was also surprised. Maybe it has to do with them having international exposure.

Meanwhile, northerners are saying it's a plan to take out northerners from the banking industry just as Soludo did

larride:
Meanwhile the CBN has set a minimum of 500bn as capital base for banks.

Recapitalization of banks has started.

So many merger and acquisition about to go down in the banking industry.

International Spread- N500bn
National Spread - N200bn
Regional - N50bn
Merchant Banks - N50bn
Non-Interest Banks(National) - N20bn
Non-interest (Regional) - N10bn

Updated

Theflint1:
Some persons don't have discipline with food, any limitations on how much food they can order? I think this thing is more about natural conditioning that betting is bad, and not necessarily the logic of regulations as you suggest. How can I be a billionaire and I'd be restricted to $100 bets that neither give me reasonable profits nor the thrill that comes with betting.

TrebleChamp:
I hope a better Bank final acquires the very useless Polaris Bank and First Bank. I went to both Bank at Alausa and Agidingbi today, ATM machine was out of service and they told me I can only withdraw 10k from the counter. Useless Banks

TrebleChamp:
Chief some of our youth are far dip and may likely never stop playing sport betting. You see kids below 15years holding bet slip like it is legal for them to play bet. I believe some parent even send their underage kids to go play game for them at betting shop.

Roland17:


Because betting isn’t gambling. While they are sometimes misconstrued to mean same, they are different.

GloriousGbola:
https://www.nairaland.com/8045055/crypto-king-sam-bankman-fried-sentenced

how it all ended

raumdeuter:


Shebi I analyzed this same thing to Sportsweb. It's not statistically possible to be profitable in the short nor long run with sport betting

Those who write the odds are not fools