₦airaland Forum

Streetinvestor2:
I will answer u.You know I be street and no dey fear face.It is obvious that this elite club don't really enter street to get first hand experience and true research.
I had never believed that any government will be worst than the last in economic matters even as I didn't vote it.After the final judiciary declarations. I said it here and to my friends let move on.That is still a win to Nigeria that the economy can never be bad like we had in Buhari time.Mr time has shown I am wrong.

Nigerians have never had it this bad like any government. I am not one of the people that buy into this bullshit about reserve,stability etc from people living large
I buy only into what I see on the street. If u know the number of businesses that have closed shop in th last 2 yrs .The number of middle class family friends that call for financial help...maybe I live in different country.

If visa was easy to get and within the 5 M thing.U will go to the street and be asking whr are the middle class if that still even exist. They would have left this country by 100 percent.
U may not understand because we count millions in this place/ngx

If we are fixated on the short-term collateral damages, then no leader would take bold actions. Would you say 2025 is as tough as 2024? Definitely 2026 will also improve. Even BAT himself did not play to the gallery. He announced that there would be pain on the street. No gain without pain

ositadima1:
My friend, I want to learn from you. You mentioned that devaluation improved the availability of naira—am I correct? If so, does the number of naira notes in circulation increase after devaluation? I’m not sure, but can you actually spend naira outside our country? If naira is the major problem, why can’t more simply be printed?

Also, apart from Government salaries (and not even all of them), what other things can be settled directly or indirectly with naira? Please help me make sense of these doubts in my head.

Correction: Your are the Professor here, so don't whine me.

I never said naira is the major problem. I only made a comment to the effect that devaluation leads to increased revenue from exports (to support govt expenditure) as a benefit to the govt, as publicly acknowledged by govt spokespersons.
But some of our NSEMPA colleagues said it is never a possibility for devaluation to lead to increased govt revenue. So I had to reference an article to support my point.

People should remember that there is always allocations from the Excess Crude Account which contains dollar receipts from crude exports. However, the money is converted to naira (using the official exchange rate) and shared amongst the various tiers of govt. This is a clear evidence and proof that govt receives more revenue in local currency from exports when the currency is devalued.
How the money is used, and whether the benefits reflect in the lives of the people is totally different matter.

Note:
Naira cannot just be printed because that would be currency in circulation not backed by any productive activity or venture.
But some countries do print currency like that in extreme situations. i.e. quantitative easing. In fact, the same Tinubu once advised Buhari to print more naira to spend and support the budget.

I am not in favour of the sharp devaluation of the naira, though, and I have explained that earlier.
The adverse effects of devaluation far outweigh the benefits, especially for a country with low industrial base, poor infrastructure and without international competitive advantage

ositadima1:
Our astute GeneralDae said that rising treasury levels are a good sign. You people are the best, but I still have my doubts.

Is it possible for treasuries to rise alongside increasing debts? If we consider debt per treasury—similar to how Papa Ema likes to evaluate stocks (debt/equity) when buying—would that give us a clearer perspective?

I feel (though I’m not entirely sure, since these things are sometimes beyond my comprehension) that if treasury reserves are increasing while debts are falling, then maybe we can say the government is doing a great job.

This is exactly what I said
Why celebrate reserve when u are borrowing externally to window dress it and borrowing internal to dress it through sales of government securities eg the dollar bonds.
If the reserve is growing organically it will definitely be rubbing off on naira.
So in another way u can say the government is defending the naira and calling it stability via window dressing.
Abi the thing done pass my pay grade understanding of economic matters

mikeapollo:
There is never only one reason for a major economic policy decision like the sharp devaluation of a currency! There are always a combination of factors. So far, I have not seen the govt/CBN issue a circular to say there is only one primary reason why they devalued the naira. So where do you get the ''primary reason'' from?
Govt officials themselves have come out publicly to say that they see benefits from the devaluation because they get more revenue to support the budget. And you want me to denounce or deny it here in order to please someone's opinion?

Devaluing looks good on paper but it is never a good thing. Let me explain it in simple terms;

1. Devaluing is carried out for two reasons; to make your exports cheap and/or to easily access foreign loans. China is an example of a country that has been devaluing their currency or keeping it artificially low so that their goods can be relatively cheap. Trump has been shouting about it everywhere, and it's part of the reason he imposed tariff.

2. Third world countries that don't have much exports of finished goods often devalue or float their currency because it's a primary condition they're given by foreign lenders. Foreign lenders prefer you devalue or float so that they don't end up losing their money if you artificially increase the value of your country's currency before you repay them. If your currency is stronger before you repay the loan, the foreign lender loses in real terms because his money will now be able to buy less amount of your goods.

3. Borrowing is not bad only if you use it for executing critical projects that creates value and makes the country more productive. For example, $30 billion loan used to fix all existing federal roads, buy and distribute farm machinery, support processing plants, build and equip schools and hospitals and equip security forces will greatly enhance productivity in Nigeria to a point where we can repay the loan with ease. And all the projects must be executed with zero tolerance for corruption. But same $30 billion loan spent on renovating airport, renovating conference centre, building coastal road, paying politician higher salary and the likes will only end up putting the country into trouble cos when time is ripe you can't repay that loan unless you borrow more. I'll leave you to access how the money being borrowed currently is being used.

4. Every poor country like Nigeria is better off having a strong currency. Imagine if €1 = ₦1 and you have ₦20,000,000. Do you know how many capital equipments you can bring into the country to support production and development? In this life, you need capital. With enough capital you get the machines, equipments, trainings and facilities to build and support a thriving society. But foreign powers who control foreign lenders know this, so they'll never support you in this regard. They'll rather push you to devalue or float your currency so they'll covertly deströy your economy by feeding your greed.

5. Forget what is on paper and forget what they're telling you that tomorrow will look like. Judge with what you are seeing now. Where do you think Nigeria is headed after subsidy removal and devaluing in a country where insecurity is rife and corruption is rife?

Joyful365:
Devaluing looks good on paper but it is never a good thing. Let me explain it in simple terms;

1. Devaluing is carried out for two reasons; to make your exports cheap and/or to easily access foreign loans. China is an example of a country that has been devaluing their currency or keeping it artificially low so that their goods can be relatively cheap. Trump has been shouting about it everywhere, and it's part of the reason he imposed tariff.

2. Third world countries that don't have much exports of finished goods often devalue or float their currency because it's a primary condition they're given by foreign lenders. Foreign lenders prefer you devalue or float so that they don't end up losing their money if you artificially increase the value of your country's currency before you repay them. If your currency is stronger before you repay the loan, the foreign lender loses in real terms because his money will now be able to buy less amount of your goods.

3. Borrowing is not bad only if you use it for executing critical projects that creates value and makes the country more productive. For example, $30 billion loan used to fix all existing federal roads, buy and distribute farm machinery, support processing plants, build and equip schools and hospitals and equip security forces will greatly enhance productivity in Nigeria to a point where we can repay the loan with ease. And all the projects must be executed with zero tolerance for corruption. But same $30 billion loan spent on renovating airport, renovating conference centre, building coastal road, paying politician higher salary and the likes will only end up putting the country into trouble cos when time is ripe you can't repay that loan unless you borrow more. I'll leave you to access how the money being borrowed currently is being used.

4. Every poor country like Nigeria is better off having a strong currency. Imagine if €1 = ₦1 and you have ₦20,000,000. Do you know how many capital equipments you can bring into the country to support production and development? In this life, you need capital. With enough capital you get the machines, equipments, trainings and facilities to build and support a thriving society. But foreign powers who control foreign lenders know this, so they'll never support you in this regard. They'll rather push you to devalue or float your currency so they'll covertly deströy your economy by feeding your greed.

5. Forget what is on paper and forget what they're telling you that tomorrow will look like. Judge with what you are seeing now. Where do you think Nigeria is headed after subsidy removal and devaluing in a country where insecurity is rife and corruption is rife?

Please read my opinions from the beginning, I am never in support of the devaluation (I call it reckless devaluation) of the naira.
It is one of the reasons why I call the man in Aso Rock clueless and grossly incompetent

Streetinvestor2:
This is exactly what I said
Why celebrate reserve when u are borrowing externally to window dress it and borrowing internal to dress it through sales of government securities eg the dollar bonds.
If the reserve is growing organically it will definitely be rubbing off on naira.
So in another way u can say the government is defending the naira and calling it stability via window dressing.
Abi the thing done pass my pay grade understanding of economic matters

Very Sharp...

mikeapollo:
Correction: Your are the Professor here, so don't whine me.

I never said naira is the major problem. I only made a comment to the effect that devaluation leads to increased revenue from exports (to support govt expenditure) as a benefit to the govt, as publicly acknowledged by govt spokespersons.
But some of our NSEMPA colleagues said it is never a possibility for devaluation to lead to increased govt revenue. So I had to reference an article to support my point.

People should remember that there is always allocations from the Excess Crude Account which contains dollar receipts from crude exports. However, the money is converted to naira (using the official exchange rate) and shared amongst the various tiers of govt. This is a clear evidence and proof that govt receives more revenue from exports when the currency is devalued.
How the money is used, and whether the benefits reflect in the lives of the people is totally different matter.

Note:
Naira cannot just be printed because that would be currency in circulation not backed by any productive activity or venture.
But some countries do print currency like that in extreme situations. i.e. quantitative easing. In fact, the same Tinubu once advised Buhari to print more naira to spend and support the budget.

I am not in favour of the sharp devaluation of the naira, though, and I have explained that earlier.

Thank you for the compliments, you’re very kind. Let me digest this first, and I’ll come back with more questions when I have new doubts. You’re the man!

Agbalowomeri:
If we are fixated on the short-term collateral damages, then no leader would take bold actions. Would you say 2025 is as tough as 2024? Definitely 2026 will also improve. Even BAT himself did not play to the gallery. He announced that there would be pain on the street. No gain without pain

U sabi military war confrontational language...collateral damage
When the collateral damage is going to reduce ur men by over 60 %.It becomes a disaster and not right. All this government can do is channel the scarce resources to the immediate things that will alleviate the suffering of majority .This will produce results in months. This is what countries facing same problem are doing to get out.Cut wastage, reduce cost of governance and try to reduce corruption if u cannot eliminate it
The government is just bent on looting via unimaginable things u hear daily given approval speedily. Then u begin to wounder if truely thr is hope.Then ur people begin to lose faith and japa is the next in everyone mind.

Agbalowomeri:
If we are fixated on the short-term collateral damages, then no leader would take bold actions. Would you say 2025 is as tough as 2024? Definitely 2026 will also improve. Even BAT himself did not play to the gallery. He announced that there would be pain on the street. No gain without pain

As long as the idiot in chief is being fiscally profligate, there is NO good outcome that will come out of his supposed "reforms"

That is the simple, undiluted and honest to GOD truth.

Reforms are comprehensively implemented and not disjointed as we can see

What will end up happening is Short Term Pain and Long Term gnashing of teeth

What do u think happens to our credit ratings in the next decade?
With the way these guys are piling these things up...

Well, no need to talk
Nigeria will get what it truly deserves
Which is continued pain and suffering

Those who take the sign of governors singing praises for receiving higher allocations as evidence of good governance probably failed elementary maths.

Minimum wage used to be ₦30,000=$66 at ₦450/$ Are those receiving ₦70,000 today happy given that today ₦70,000=$45 at ₦1550/$? Your answer should show if you understand basic maths.

Meanwhile, remember that most capital projects of states are valued in dollars but paid in naira at the prevailing exchange rate. If your state awards project to any Chinese or foreign company to construct road or supply equipment, they'll pay the naira sum of the dollar equivalent and the company will convert it to dollars and move it back home to their country. So, how does the state benefit, especially if those contracts have been inflated for kickback purposes?

So, don't follow the talk of most Nigerian governors unless you see their performance improving the life of their people. They'll do anything to prevent EFCC controlled by the president from investigating them for embezzlement of public funds, including lying and praising bad policies of the federal government.

mygee2:
Please expert in the house my grandfather bought some shares in the 19's and he is late now and most of the companies are merged we have the share cert how do we know the value of the shares and sell it. Thanks you

I understand your situation.. You’re dealing with old share certificates from the 1990s in Nigeria, and now your grandfather is late. Many companies have either merged, changed names, or been delisted, so the process involves verification and estate transfer before you can know their value and sell them.

The below guide should be able to help you do the right thing...

1. Identify the Companies

Look carefully at the share certificates (company name, number of units, registrar).

Some may have merged (e.g., banks like Afribank → Mainstreet → Skye → Polaris).

If the company is still listed, you can check its current market price on the Nigerian Exchange (NGX) website or through a stockbroker.

If delisted or acquired, you’ll need to trace the successor company.

2. Establish Next of Kin Ownership (Probate / Letter of Administration)

Because your grandfather is deceased, you cannot sell the shares in his name.
You’ll need:

Letter of Administration (if no Will) OR Probate (if there’s a Will) issued by a High Court

These documents legally transfer his assets (shares inclusive) to his beneficiaries.

3. Contact the Company’s Registrar

Every Nigerian company with listed shares has a registrar (e.g., First Registrars, Greenwich Registrars, CardinalStone Registrars, etc.).

Steps:

Write to the registrar with a copy of the share certificate.

Provide your grandfather’s death certificate and the Letter of Administration/Probate.

The registrar will confirm if the shares are still valid, migrated, or converted (e.g., in case of mergers).

4. Check for Unclaimed Dividends

Many old shares have unclaimed dividends attached.

Use the SEC Nigeria E-Dividend portal https://sec.gov.ng → “Search Unclaimed Dividends” with your grandfather’s name.

If any exist, they can also be claimed after estate transfer.

5. Selling the Shares

Once the shares are confirmed and transferred to your name (as beneficiary/administrator), you can:

Open a CSCS (Central Securities Clearing System) account through a licensed Nigerian stockbroker.

Transfer the shares into the CSCS account.

Place a sell order with the broker at the current market price.

I hope this helps

awesomeJ:
You wrote entirely in English??

ositadima1:
Our astute GeneralDae said that rising treasury levels are a good sign. You people are the best, but I still have my doubts.

Is it possible for treasuries to rise alongside increasing debts? If we consider debt per treasury—similar to how Papa Ema likes to evaluate stocks (debt/equity) when buying—would that give us a clearer perspective?

I feel (though I’m not entirely sure, since these things are sometimes beyond my comprehension) that if treasury reserves are increasing while debts are falling, then maybe we can say the government is doing a great job.

How much foreign debt has this Govt added since 2023? Not up to $3 Billion.

We are currently at $45 Billion from $43 Billion on May 2023.

At thesame time the FX reserve has grown from around $35 Billion on May 2023 to $41 Billion today.

Guys hope you didn't sleep on this
https://doclib.ngxgroup.com/Financial_NewsDocs/44900_LEGEND_INTERNET_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_AUGUST_2025.pdf


Easy 100% starting from tomorrow

The news came out unexpectedly

No official notice available for the 2025 AGM, but typically around October.

essentialone1:
When is the AGM of Lasaco for 2025?

mygee2:
Please expert in the house my grandfather bought some shares in the 19's and he is late now and most of the companies are merged we have the share cert how do we know the value of the shares and sell it. Thanks you

Open excel sheet, input name of all the companies, certificate number, folio numbers and quantities of shares.

Check if the company was liquidated or merged. If liquidated then the certificate is worthless.

For the ones that merged, research and read up on the merger terms. If it resulted in new shares being issued for the old ones, note it down and track the contact details of the new and old registerers. Contact the new registerers to track the shares and all dividends.

Before then you need to obtain a probate or letter of administration from any high court in the place he lived/died.

Hope you have evidence of his death and will he wrote on who gets what of his properties or assets?

You need to also have a CSCS account.

With all these, the dividends can be tracked and recovered and the share certificate dematerialised and transferred to you, if you are the administrator of his estate.

I don't think so...
Infact it shed 10% today

Lofty1000:
Guys hope you didn't sleep on this
https://doclib.ngxgroup.com/Financial_NewsDocs/44900_LEGEND_INTERNET_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

Easy 100% starting from tomorrow
The news came out unexpectedly

Shared

Financial Red flags to watch out for

Joyful365:
Those who take the sign of governors singing praises for receiving higher allocations as evidence of good governance probably failed elementary maths.

Minimum wage used to be ₦30,000=$66 at ₦450/$ Are those receiving ₦70,000 today happy given that today ₦70,000=$45 at ₦1550/$? Your answer should show if you understand basic maths.

Meanwhile, remember that most capital projects of states are valued in dollars but paid in naira at the prevailing exchange rate. If your state awards project to any Chinese or foreign company to construct road or supply equipment, they'll pay the naira sum of the dollar equivalent and the company will convert it to dollars and move it back home to their country. So, how does the state benefit, especially if those contracts have been inflated for kickback purposes?

So, don't follow the talk of most Nigerian governors unless you see their performance improving the life of their people. They'll do anything to prevent EFCC controlled by the president from investigating them for embezzlement of public funds, including lying and praising bad policies of the federal government.

Do you think the money from subsidy removal can go round in paying minimum wage of 150? If yes, I will like to see that mathematics.

Thanks.

GeneralDae:
How much foreign debt has this Govt added since 2023? Not up to $3 Billion.

We are currently at $45 Billion from $43 Billion on May 2023.

At thesame time the FX reserve has grown from around $35 Billion on May 2023 to $41 Billion today.

Very interesting observation—kudos to you. You know me, I easily get confused, and I have more doubts. I’m sure your data can be corroborated, but is dividing debt into foreign and domestic really the best approach? Wouldn’t it be clearer to divide it by denomination—local currency vs. foreign currency? I think (though I’m not sure) that a dollar debt is the same regardless of whether it’s classified as foreign or local. As usual, my understanding may be wrong, so please enlighten me.

One more doubt: I heard that some debts mature based on contingencies—could that also be reflected there? Sorry for the many questions, but I really enjoy learning from you all.

ARADEL. ±
CONOIL. ±
ETERNA. ±
OandO. +4.95%

emmanuelewumi:
Shared

Financial Red flags to watch out for

Oando is that you?

megawealth01:
I understand your situation.. You’re dealing with old share certificates from the 1990s in Nigeria, and now your grandfather is late. Many companies have either merged, changed names, or been delisted, so the process involves verification and estate transfer before you can know their value and sell them.

The below guide should be able to help you do the right thing...

1. Identify the Companies

Look carefully at the share certificates (company name, number of units, registrar).

Some may have merged (e.g., banks like Afribank → Mainstreet → Skye → Polaris).

If the company is still listed, you can check its current market price on the Nigerian Exchange (NGX) website or through a stockbroker.

If delisted or acquired, you’ll need to trace the successor company.

2. Establish Next of Kin Ownership (Probate / Letter of Administration)

Because your grandfather is deceased, you cannot sell the shares in his name.
You’ll need:

Letter of Administration (if no Will) OR Probate (if there’s a Will) issued by a High Court

These documents legally transfer his assets (shares inclusive) to his beneficiaries.

3. Contact the Company’s Registrar

Every Nigerian company with listed shares has a registrar (e.g., First Registrars, Greenwich Registrars, CardinalStone Registrars, etc.).

Steps:

Write to the registrar with a copy of the share certificate.

Provide your grandfather’s death certificate and the Letter of Administration/Probate.

The registrar will confirm if the shares are still valid, migrated, or converted (e.g., in case of mergers).

4. Check for Unclaimed Dividends

Many old shares have unclaimed dividends attached.

Use the SEC Nigeria E-Dividend portal https://sec.gov.ng → “Search Unclaimed Dividends” with your grandfather’s name.

If any exist, they can also be claimed after estate transfer.

5. Selling the Shares

Once the shares are confirmed and transferred to your name (as beneficiary/administrator), you can:

Open a CSCS (Central Securities Clearing System) account through a licensed Nigerian stockbroker.

Transfer the shares into the CSCS account.

Place a sell order with the broker at the current market price.

I hope this helps

Thank sir

emmanuelewumi:
Shared

Financial Red flags to watch out for

I know for your mind, these red flags perfectly fit the bill for a particular stocks by the name .....O

mikeapollo:
I know for your mind, these red flags perfectly fit the bill for a particular stocks by the name .....O

If I say O

You say A

Another man say N

Na you sabi

emmanuelewumi:
If I say O

You say A

Another man say N

Na you sabi

You no go kee person

kintus:
No official notice available for the 2025 AGM, but typically around October.

Ok thanks

emmanuelewumi:
If I say O

You say A

Another man say N

Na you sabi

VAWULENCE 101 spotted... Let there be no gbas gbos ooooooo

megawealth01:
VAWULENCE 101 spotted... Let there be no gbas gbos ooooooo

He no go fit kee us now . We go survive for im hand

mikeapollo:
He no go fit kee us now . We go survive for im hand

Wale no get joy sha

megawealth01:
Wale no get joy sha

Your man, Wales is turning a new leaf, little by little. Let's wait and see market reaction to the capital raise.
My suspicion is that they may release a good Q3 results so as to boost the success of the equity raise.

crownprince2017:
It ranges between 60-65 In my place.

Note: I bought a bag just last month

Abeg where you see am? Na 89k I buy last week o