₦airaland Forum

benzmatic:
https://openai.com/chatgpt/overview/ Is Ellah Lakes a scam company?

Ellah Lakes Plc is a **publicly listed agribusiness** on the Nigerian Exchange (NGX), founded in 1980, with a focus on oil palm, cassava, soybean, rice, maize and livestock. It’s a legitimate company with ongoing partnerships, government projects, and a public track record—not a scam. Here’s what recent reporting shows:

---

### ✅ Confirmed activities & credibility

* In **September 2022**, Ellah Lakes took over the management of the 5,000-hectare Adarice Farms in Enugu State under a Memorandum of Understanding with the state government, aiming to build a “Staple Crop Processing Zone” ([Nairametrics][1], [Nairametrics][2]).
* It also has a 2,400-hectare palm plantation acquired in 2019 and is working on additional 5,000-hectare leases in Ondo and Enugu ([Nairametrics][3]).
* The company has registered capital raises and funding rounds, including a ₦5 billion private placement in early 2024 and previous funding efforts including rights issues and partnerships .

### 📉 Financial lens

* Ellah Lakes has faced **financial challenges**, including periods of zero or minimal revenue, such as ₦780,000 in 2024 with a net loss of ₦893.9 million ([Businessday NG][4]).
* It is actively restructuring finances—converting debt to equity, issuing new shares, and leveraging government schemes .

### 🌱 Business growth & legitimacy

* The company’s strategy includes vertical integration: crop cultivation + processing, livestock (piggery), and partnerships like the International Institute of Tropical Agriculture (IITA) for soybean production ([The Nation Newspaper][5]).
* Their annual general meetings are well-documented in credible Nigerian media (e.g., BusinessDay, The Guardian, Nairametrics), with executive names published and board activity openly reported ([Businessday NG][4]).

---

### 🚫 Conclusion

Ellah Lakes is a **real, regulated company** with transparency through NGX filings, strategic acquisitions, public-private MOUs, and ongoing expansion plans. While it does face typical agribusiness financial hurdles, there’s **no credible evidence** to suggest it’s a scam. Its operations and public record support its legitimacy.

---

If you’re considering **investing or partnering** with them, I recommend:

* Reviewing their **latest financial statements** on NGX or their investor relations portal.
* Monitoring **ongoing updates around project commissioning** (e.g., palm oil mill activity due in Q1–Q2 2025) ([Businessday NG][4]).
* Seeking professional advice if you’re planning significant involvement.

Let me know if you'd like help digging into their latest annual report, stock performance, or strategic plans!

[1]: https://nairametrics.com/2022/09/12/ellah-lakes-plc-announces-take-over-of-adarice-farms-associated-assets-from-enugu-state-government/?utm_source=chatgpt.com "Ellah Lakes Plc announces Take Over of Adarice Farms & Associated Assets From Enugu State Government - Nairametrics"
[2]: https://nairametrics.com/2022/09/09/ellah-lakes-takes-over-adarice-farms-from-enugu-state-government/?utm_source=chatgpt.com "Ellah Lakes takes over operations of Adarice Farms from Enugu State Government - Nairametrics"
[3]: https://nairametrics.com/2022/09/18/ellah-lakes-plc-making-success-from-refocusing-strategic-acquisitions-under-chuka-mordi/?utm_source=chatgpt.com "Ellah Lakes Plc: Making success from refocusing, strategic acquisitions under Chuka Mordi - Nairametrics"
[4]: https://businessday.ng/companies/article/ellah-lakes-eyes-palm-oil-production-in-2025/?utm_source=chatgpt.com "Ellah Lakes eyes palm oil production in 2025 - Businessday NG"
[5]: https://thenationonlineng.net/ellah-lakes-iita-partner-on-n360b-soybean-market/?utm_source=chatgpt.com "Ellah Lakes, IITA partner on N360b soybean market - The Nation Newspaper"

Welcome. I have never seen this moniker here.Do you equally stay in benin. Abi you be benz engineer. What ellahlakes can not bring to this thread does not exist.
So that was the simplest question you could ask the AI search.
Did you ever ask the AI app during cbex if it was a scam or MBA forex for Same question.
I am asking for a friend .
Next time you want to ask AI about a company. Ask about specific fundamental things regarding the company mostly about financial results.....no vex

KarlTom:
Mikeapollo

I recall several British and German engineers who I worked with in the last few years of proper refining at WRPC and I can tell you for a fact that those refineries, in their current state, are full scale liabilities.
Over ₦20trillion has been spent on rehabilitation or/and maintenance since 2010 with little or nothing to show.

That's enough to build a Dangote Refiney with some change...

Is it not possible for the refineries to be retrofitted or re-engineered to work properly?

Streetinvestor2:
Welcome. I have never seen this moniker here.Do you equally stay in benin. Abi you be benz engineer. What ellahlakes can not bring to this thread does not exist

Ellah is, now trying to surpass Oando, both in buul and in gbos gbas.
And they're both related by one word, oil, red and black.

zendi:
Ellah is, now trying to surpass Oando, both in buul and in gbos gbas.
And they're both related by one word, oil, red and black.

Abeg explain the red and black part.My brain don dey old,lol

KarlTom:
Mikeapollo

I recall several British and German engineers who I worked with in the last few years of proper refining at WRPC and I can tell you for a fact that those refineries, in their current state, are full scale liabilities.
Over ₦20trillion has been spent on rehabilitation or/and maintenance since 2010 with little or nothing to show.

That's enough to build a Dangote Refiney with some change...

In as much I will not support oando buying it.I will call it corruption.
Anyone buying it is buying iron condemn. That thing is outdated and should have been sold as scrap long ago to save us money. They whr only using it to reap nigeria blind in the name TAM.For haven sake how old is that technology and the efficiency of that thing in present world.

Streetinvestor2:
Abeg explain the red and black part.My brain don dey old,lol

No be Red Oil Mill Ellah wan commission ?

No be Black Crude Oil Oando dey produce ?

from experience, when everybody begins to analyse and talk about a company stock so voraciously, this is the time to be cautious and even reduce your exposure and just wait for the market reaction. Like said before, many on here especially have seen the needle move on their portfolio, everything you touch turns to gold. This is a traders fallacy and can easily lead to a confirmation bias - this is a tendency to search, interpret, favor and recall information that confirms our preexisting beliefs - a trader who only sees the good side of a technique and ignores the bad side of it despite being exposed to it....in reality we must deal with the exposure, both positive and negative sides of everything that we do. i dont think EL is not done but its extended as is and needs some bit of correction, you can hold but know your limits. personally, i dont see EL doing 15 in this current rally but you never anyone can be wrong in this market, we only put our best foot forward...my thoughts >>
https://ewnation.com/wp-content/uploads/2025/07/ELLAH1H-3.png
https://ewnation.com/category/stock/nigeria/

Refining technology has moved on.
Even the spares of some installations will be difficult to get.
The efficiency is also a concern. etc

After spending billions of greenback on botched maintenance, I think we all know the answer...

mikeapollo:
Is it not possible for the refineries to be retrofitted or re-engineered to work properly?

zendi:
No be Red Oil Mill Ellah wan commission ?

No be Black Crude Oil Oando dey produce ?

Sorry here, it has just occured to me that 90 or more percent of humans may never have seen crude oil, to know it's colour. What everybody sees are petrol and kerosene.
Secondly, wheras I had all my life thought that crude oil can only be black or dark, I have just learnt from Google that it can also come in yellow or amber.

Streetinvestor2:
Welcome. I have never seen this moniker here.Do you equally stay in benin. Abi you be benz engineer. What ellahlakes can not bring to this thread does not exist.
So that was the simplest question you could ask the AI search.
Did you ever ask the AI app during cbex if it was a scam or MBA forex for Same question.
I am asking for a friend .
Next time you want to ask AI about a company. Ask about specific fundamental things regarding the company mostly about financial results.....no vex

Oga Street, no kill person with laugh o!

I dedicate this audiobook, 'The Rules of Wealth' by Richard Templar, to Megawealth for his profound understanding and trust in the Nigerian Stock Exchange (NGX).


https://www.youtube.com/watch?v=OEGrqsG78mM?si=Qo2ibsNlJqZJlvBt

What are easiest stockbrokers to sign up with to trade on the Nigerian stock exchange?

drstranged:
What are easiest stockbrokers to sign up with to trade on the Nigerian stock exchange?

meritrade by meristem i find user friendly ref:https://nairametrics.com/2025/07/05/best-performing-stockbrokers-q2-2025/

Copied

Didier Drogba, the former Chelsea striker went on a vacation at a luxurious beach hotel. He noticed all manner of luxurious cars coming in with billionaires to attend seminars.

These seminars include topics like.

1. How to build generational wealth

2. Understanding African Economics Climates

3. How to take advantage of the social media to build a lasting brand.

4. Etc.

These billionaires pay thousands of US dollars to attend this training. Drogba begins to wonder, why are they coming to take this training of a few hours to a few days?. To quench his curiosity, he approached one of the Arabia billionaires and asked "sir, you are already a billionaire, what do you need all these training for?" The billionaire answered, "I recognize you, you are Drogba, the former Super Chelsea striker, do you stop training because of the former goals you scored?" It became clearer! The rich keep learning and improving themselves to manage and grow their wealth, but the poor minded fellows wouldn't see a reason for fresh ideas. Every year, Dangote, Tony Elumelu and all the billionaires you know go for courses. I heard one big business mogul in Nigeria said he spent $100,000 for a special one-week course with a Harvard professor. They can't be at the top of their game without keeping abreast with recent knowledge. The brain you water grows greener.

- Amaechi Prince Chekwy

KarlTom:
Refining technology has moved on.
Even the spares of some installations will be difficult to get.
The efficiency is also a concern. etc

After spending billions of greenback on botched maintenance, I think we all know the answer...

Its essentially a lack of will to make them function. All the government needs is appoint a tested CEO from the private sector and give him all the support to truly "turn around" the refineries... But government will usually yield to pressure from some influential forces who are sacred cows(maybe because of their political influence among their people

Streetinvestor2:
In as much I will not support oando buying it.I will call it corruption.
Anyone buying it is buying iron condemn. That thing is outdated and should have been sold as scrap long ago to save us money. They whr only using it to reap nigeria blind in the name TAM.For haven sake how old is that technology and the efficiency of that thing in present world.

If it's really unrepairable and ultimately unprofitable to acquire as you say, why would government believe they'd get a buyer? Ojulari of all people should know and he boldly said the refineries will be sold

p.s. looks like your 3 week ban on me has expired... Just a heads up because I intend to, without discrimination, continue to comment on any post I have an opinion about

KarlTom:
No sir!
There's no agreement in place...yet

Meant if there's an agreement and it's revoked by government for political vendetta

zendi:
Ellah is, now trying to surpass Oando, both in buul and in gbos gbas.
And they're both related by one word, oil, red and black.

red oil don't scam investors

I am surprised that no one is asking after the Ellah Lakes Oil mIll that was supposed to be commissioned last month end

megawealth01:
No matter how much you put into this market it's still a blessing. Just don't be excessively greedy

Hello Mega.
Please a bit off your post.
I know you use Meritrade app.
Are you confident with the way the amount paid column is calculated especially when multiple buys are done on a stock?
A part of me feel that the price in that column is higher than the the average purchase prices for stock when calculated.

Any thoughts Sir? I want to be better guided.
Great Sunday everyone.

Good day house. Please recommend 2 or 3 dividend paying stocks and 3 non dividend paying stocks that has potential for growth, aside banks?

Mankind2024:
Copied

Didier Drogba, the former Chelsea striker went on a vacation at a luxurious beach hotel. He noticed all manner of luxurious cars coming in with billionaires to attend seminars.

These seminars include topics like.

1. How to build generational wealth

2. Understanding African Economics Climates

3. How to take advantage of the social media to build a lasting brand.

4. Etc.

These billionaires pay thousands of US dollars to attend this training. Drogba begins to wonder, why are they coming to take this training of a few hours to a few days?. To quench his curiosity, he approached one of the Arabia billionaires and asked "sir, you are already a billionaire, what do you need all these training for?" The billionaire answered, "I recognize you, you are Drogba, the former Super Chelsea striker, do you stop training because of the former goals you scored?" It became clearer! The rich keep learning and improving themselves to manage and grow their wealth, but the poor minded fellows wouldn't see a reason for fresh ideas. Every year, Dangote, Tony Elumelu and all the billionaires you know go for courses. I heard one big business mogul in Nigeria said he spent $100,000 for a special one-week course with a Harvard professor. They can't be at the top of their game without keeping abreast with recent knowledge. The brain you water grows greener.

- Amaechi Prince Chekwy

I totally agree with you bro.
I adopted this strategy long time ago due to the industry I am in.
Virtually every year, I am always renewing/upgrading one certificate or doing another course.
Initially, I wasn't happy doing that because I see it as a waste of scarce resources or money but overtime, it has paid off and I now appreciate it.
Reason why I spend a lot of money upgrading myself stockwise both for fundamental and technical analysis.
I have spent over $1,500 on courses and I am not stopping anytime soon.
I penned down other courses I will buy/do or attend after am through with the ones am doing.
Knowledge is light, Knowledge is Power.
With knowledge comes confidence and I can trade stocks with more confidence now than before unless I am just in my lazy mode to do the analysis.

emmaodet:
I totally agree with you bro.
I adopted this strategy long time ago due to the industry I am in.
Virtually every year, I am always renewing/upgrading one certificate or doing another course.
Initially, I wasn't happy doing that because I see it as a waste of scarce resources or money but overtime, it has paid off and I now appreciate it.
Reason why I spend a lot of money upgrading myself stockwise both for fundamental and technical analysis.
I have spent over $1,500 on courses and I am not stopping anytime soon.
I penned down other courses I will buy/do or attend after am through with the ones am doing.
Knowledge is light, Knowledge is Power.
With knowledge comes confidence and I can trade stocks with more confidence now than before unless I am just in my lazy mode to do the analysis.

My followers should emulate this 💯

Invest in PRACTICABLE KNOWLEDGE

I dedicate this video clip to my humble self, celebrating another milestone, my perseverance, discipline, focus, and consistency in adhering to the principles of long-term investing through compounding. By avoiding speculation, trading, and betting, I've strictly adhered to fundamental analysis of the Magnificent 7 stocks, and SPDR S&P 500, embracing the marathon journey I've undertaken since 2023. It is not EASY! The marathon continue, victoria acerta.



https://www.youtube.com/watch?v=iVF16Qk9jGQ?si=Sm6vouXngcGPRPOP

PuristForest:
from experience, when everybody begins to analyse and talk about a company stock so voraciously, this is the time to be cautious and even reduce your exposure and just wait for the market reaction. Like said before, many on here especially have seen the needle move on their portfolio, everything you touch turns to gold. This is a traders fallacy and can easily lead to a confirmation bias - this is a tendency to search, interpret, favor and recall information that confirms our preexisting beliefs - a trader who only sees the good side of a technique and ignores the bad side of it despite being exposed to it....in reality we must deal with the exposure, both positive and negative sides of everything that we do. i dont think EL is not done but its extended as is and needs some bit of correction, you can hold but know your limits. personally, i dont see EL doing 15 in this current rally but you never anyone can be wrong in this market, we only put our best foot forward...my thoughts >>
https://ewnation.com/wp-content/uploads/2025/07/ELLAH1H-3.png
https://ewnation.com/category/stock/nigeria/

Since you don't sell now you need to prophesize as if you are the market, no p, I will quote you next week, it's just some hours away.

KarlTom:
Refining technology has moved on.
Even the spares of some installations will be difficult to get.
The efficiency is also a concern. etc

After spending billions of greenback on botched maintenance, I think we all know the answer...

A lot of refineries around the world are older than our refineries and they are still functioning and producing

mikeapollo:
A lot of refineries around the world are older than our refineries and they are still functioning and producing

Exactly. I don’t think the old age is the problem. I think the fact that some of them have not been operating for decades is the problem. The longer a refinery (old or new) stays out of operation, the more difficult it is to revive it.
Refining is quite complex.

Mankind2024:
I dedicate this video clip to my humble self, celebrating another milestone, my perseverance, discipline, focus, and consistency in adhering to the principles of long-term investing through compounding. By avoiding speculation, trading, and betting, I've strictly adhered to fundamental analysis of the Magnificent 7 stocks, and SPDR S&P 500, embracing the marathon journey I've undertaken since 2023. It is not EASY! The marathon continue, victoria acerta.



https://www.youtube.com/watch?v=iVF16Qk9jGQ?si=Sm6vouXngcGPRPOP

welldone, I liked the video, very relevant and subtle nuggets in it..

crownprince2017:
Since you don't sell now you need to prophesize as if you are the market, no p, I will quote you next week, it's just some hours away.

Cinder- Ellah that will still overtake O -sean and O -"ill"
Eventually

Mankind2024:
I dedicate this video clip to my humble self, celebrating another milestone, my perseverance, discipline, focus, and consistency in adhering to the principles of long-term investing through compounding. By avoiding speculation, trading, and betting, I've strictly adhered to fundamental analysis of the Magnificent 7 stocks, and SPDR S&P 500, embracing the marathon journey I've undertaken since 2023. It is not EASY! The marathon continue, victoria acerta.



https://www.youtube.com/watch?v=iVF16Qk9jGQ?si=Sm6vouXngcGPRPOP

Very great video. I liked the end part a lot. Definitely bookmarking it.

Also very impressive returns you have achieved over the past 2 years especially as an investor and not a trader.

However one would think it will be very difficult to get such returns in the US stock market as they tend to grow slowly and post dividends of max 7%.

How were you able to get such high returns with just stocks and index funds withina short time?

crownprince2017:
Since you don't sell now you need to prophesize as if you are the market, no p, I will quote you next week, it's just some hours away.

Prophesize...lol😭😂🤯💀👁️👁️

ceelog:
Very great video. I liked the end part a lot. Definitely bookmarking it.

Also very impressive returns you have achieved over the past 2 years especially as an investor and not a trader.

However one would think it will be very difficult to get such returns in the US stock market as they tend to grow slowly and post dividends of max 7%.

How were you able to get such high returns with just stocks and index funds withina short time?

donaldtrump