₦airaland Forum

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

mikeapollo:

Your man, Wales is turning a new leave, 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.

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

ositadima1:
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.

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

Lofty1000:
What you don't know is that this result came out less than an hour ago after the full offer thing. Youre not gready when others are fearful, you're not fearful when others are gready and you're part of this community. Heaven knows who admitted you in here, I Petty you .

Joyful365:
Hope you know how to scrutinize a financial statement?

Operating profit declining and administrative expenses rising sharply is not a good sign. Negative reviews of the company's services is increasing. The stock is now on full offer and -10% tomorrow is looking more probable. Anything can happen though. Let's wait and see

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

GeneralDae:
No problem, I enjoy learning here too. When it comes to local debts, this Government has borrowed so much (around 21 trillion naira) but local debts are less risky because the Government can never run out of naira, the Government literally prints naira but they don’t abuse that power too much else you get a Zimbabwe, Venezuela, Argentina, and even Nigeria (of 2022/2023) who printed way too much at a time. So I think for this reason, it’s good to classify our debts into foreign and local because foreign debts are more risky due to the currency factor and external reserves (offshore) are used for foreign debt servicing mainly.

This Govt has paid some principals or matured debts. They have paid back the Covid loan from the IMF ($3.22 Billion) and would pay back a maturing Eurobond ($1.2 Billion) in November. Most of these principals are not short term and were borrowed over 4 years ago at least.

So from your question, you are trying to seperate net reserves from Gross reserves. Our Gross reserves according to the CBN 2024 report, grew from $3.99 Billion as at December 2023 to $23.19 Billion as at December 2024. Net reserves are reserves free of all those debts, bank swaps and liabilities you wrote about. So the reserves had $23.19 Billion as at end of 2024 which is about 7 months of import cover (IMF says anything above 6 months is good). The net reserves may have grown further this year but we may have to wait for CBN report by end of the year to officially confirm this.

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

Agbalowomeri:


Omo see wahala

Maybe my account was hacked

mygee2:
i checked sec and i found these

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

mygee2:
i checked sec and i found these

ositadima1:
This is enlightening, brother—may I call you that? But it seems you missed my point, so let me rephrase. Are all local debts denominated in Naira? I don’t think so; I may even have proof of this.

My other questions relate to events like those in the attached excerpts.

GeneralDae:
Local debts are in naira that’s why they are local. If they were borrowed from within (usually DMO bonds and the likes). What you have in your screenshot is ways and means which I referred to as printing for Government in lay man’s terms. That is also a local debt which has now been securitised. CBN printed 22 trillion naira for Buhari’s Govt in 8 years but the DMO didn’t include it in our total public debt as at 2023. It was securitised by the Tinubu Govt and so it increased the local debt from 30 trillion naira to around 54 trillion naira in 2023.

mikeapollo:
Thanks for this piece
I recall Tinubu himself telling Buhari to print money to use for the budget.

crownprince2017:
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.

Panadee:
https://punchng.com/tinubu-to-buhari-print-more-naira-notes-suspend-vat/

mikeapollo:
Thanks for this piece
I recall Tinubu himself telling Buhari to print money to use for the budget.

Joyful365:
Minimum wage bill of 2023 for fg was around 4 trillion while subsidy payment (fuel and electricity) was around 7.26 trillion.

A serious government that wants to implement austerity measures without wiping out the middle class would have implemented a better version of Oronsaye report (trim and merge MDAs) which could have saved at least 500 billion annually.

As he gleefully shouted subsidy is gone, he would have also proclaimed 50% reduction in salaries and allowances of all elected and politically appointed federal government officials which would have saved another 300 billion.

After all this, minimum wage can then be increased to 150k for only grade level 1-6 and 30% increase for grade level 7-10. Every other grade stays the same cos they're already earning well and less impacted by the subsidy removal. These would have raised the wage bill to around 6.5 trillion.

Total savings from subsidy removal and austerity reforms = 7.26 trillion + 500 billion + 300 billion = 8.06 trillion

New wage bill = 6.5 trillion.

8.06 trillion - 6.5 trillion = 1.56 trillion net savings savings from year 2 of government after fully implementing subsidy removal and trimming down bloated government.

With these measures, you'll have less complain in the society cos there's been a form of wealth redistribution while government hands of paying fuel subsidy to corrupt racketeers.

At the same time, every revenue and expenditure must now be accounted for and there's full transparency and zero tolerance for corruption (executive, legislative and judiciary), while citizens are fully empowered by the law to scrutinize what every government official is doing without victimisation subject to you providing evidence and proving your claims. No more using courts and corrupt judges to stifle Investigations. Set measurable targets and measure performance regularly.

Put me there as president and you'll see real change in 2 years, not this balablu bulaba whatever that some people are celebrating here as if governance is rocket science.

If you have worked or ran a serious business where you set targets, track progress, measure performance and evaluate everything every week and every month, you'll know that Nigeria government is a joke and all they are doing is zero - just flexing power and stealing public funds to show off and oppress citizens

GeneralDae:
Well you are right. What Tinubu and Buhari had in mind especially after COVID was not executed properly because it seems Buhari allowed Emiefele carry out most of those responsibilities alone which was not his core mandate.

What Tinubu advised during COVID (printing of more money to survive COVID) was necessary and was carried out in most parts of the world during COVID. You don’t get excessive devaluation and inflation simply because you printed, rather you get that when you didn’t print to boost output or support industries.

We printed 22 trillion in 8 years ($50 Billion). How much of it went in to boost the output of the economy in a commensurate mannner? This is partly what led to the spike in inflation and naira devaluation.

If we printed $50 Billion and at least $40 Billion went into the economy to support industries that eventually came out with increased output of that sum, our economy would have expanded with only little inflationary spike. But most of the printing especially in 2022 and 2023 were not for those purposes. They went into paying salaries and supporting recurrent expenditures.

Joyful365:
Minimum wage bill of 2023 for fg was around 4 trillion while subsidy payment (fuel and electricity) was around 7.26 trillion.

A serious government that wants to implement austerity measures without wiping out the middle class would have implemented a better version of Oronsaye report (trim and merge MDAs) which could have saved at least 500 billion annually.

As he gleefully shouted subsidy is gone, he would have also proclaimed 50% reduction in salaries and allowances of all elected and politically appointed federal government officials which would have saved another 300 billion.

After all this, minimum wage can then be increased to 150k for only grade level 1-6 and 30% increase for grade level 7-10. Every other grade stays the same cos they're already earning well and less impacted by the subsidy removal. These would have raised the wage bill to around 6.5 trillion.

Total savings from subsidy removal and austerity reforms = 7.26 trillion + 500 billion + 300 billion = 8.06 trillion

New wage bill = 6.5 trillion.

8.06 trillion - 6.5 trillion = 1.56 trillion net savings savings from year 2 of government after fully implementing subsidy removal and trimming down bloated government.

With these measures, you'll have less complain in the society cos there's been a form of wealth redistribution while government hands of paying fuel subsidy to corrupt racketeers.

At the same time, every revenue and expenditure must now be accounted for and there's full transparency and zero tolerance for corruption (executive, legislative and judiciary), while citizens are fully empowered by the law to scrutinize what every government official is doing without victimisation subject to you providing evidence and proving your claims. No more using courts and corrupt judges to stifle Investigations. Set measurable targets and measure performance regularly.

Put me there as president and you'll see real change in 2 years, not this balablu bulaba whatever that some people are celebrating here as if governance is rocket science.

If you have worked or ran a serious business where you set targets, track progress, measure performance and evaluate everything every week and every month, you'll know that Nigeria government is a joke and all they are doing is zero - just flexing power and stealing public funds to show off and oppress citizens

Streetinvestor2:
Oga I disagree on this maths. I don't pretend. Why should over 50% of the money be spent on civil servants that many add no real value. He should have sacked nothing less than half to bring down waste and reduce wage bill too.They should go and farm or learn a skill. Then put the remaining money in education and health sector
What is the population of civil servants that they should take up our collective sacrifice. The last time I checked nobody in my larger family is in civil service of both state or federal

KarlTom:
1. The result came out on the doc.lib around 12:45pm (over 2hours ago)
2. There was a trade of over 3.14m units at 14:30hrs @5.40 (-10%)
3. At the bolded, instead of pettying me, join me and Thank God for Heaven

Joyful365:
Hope you know how to scrutinize a financial statement?

Operating profit declining and administrative expenses rising sharply is not a good sign. Negative reviews of the company's services is increasing. The stock is now on full offer and -10% tomorrow is looking more probable. Anything can happen though. Let's wait and see

Lofty1000:
What you don't know is that this result came out less than an hour ago after the full offer thing. Youre not gready when others are fearful, you're not fearful when others are gready and you're part of this community. Heaven knows who admitted you in here, I Petty you.

sterlingD:
https://doclib.ngxgroup.com/Financial_NewsDocs/44899_INTERNATIONAL_ENERGY_INSURANCE_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_AUGUST_2025.pdf

INTERNATIONAL ENERGY INSURANCE PLC: NOTICE OF EMERGENCY BOARD MEETING
This is to notify Nigerian Exchange Limited (NGX) and the investing public that International Energy Insurance Plc (the Company) is proposing an emergency Board meeting for 28th August, 2025, at 12:00 noon prompt via Microsoft Teams, with the venue recognised as Plot 13/14 Ligali Ayorinde Street, Victoria Island Lagos, to consider a proposal for Loan to Equity Conversion and share reconstruction.

Source:https://ngxgroup.com/exchange/data/corporate-disclosures/

mails4funshi:
Do kindly confirm the population (No. of Nigerians) that will gulp the 6.5M wage.

SonofElElyonRet:
This place don turn comedy central

mikeapollo:
Only the idea is need.... (don't bother to add the ''ed'')