₦airaland Forum

awesomeJ:
Why not? If the fair Value of their assets have changed, why not?

Anyways gains from about $5bn of the holdings were actually realized, cos CBN forced this 0% long NOP policy that forced them to sell.


If GTCO held $1bn valued at 460bn in 2023, and they were forced to sell in February 2024 at 1600 for N 1.6trn in proceeds, why would CBN say they haven't made N1.14trn in gains?


I think what CBN might do is limit how much dividends is paid from such gains or whatever, but i don't see why they would basically ask them to lie by not recognizing the gains.

FG collected 70% of Banks' Forex gains of 2023/2024.
Wetin remain?

GeneralDae:
True and once this whole forbearance issue is put behind us (for the most part) we would have fundamentally stronger banks. I also think this recapitalisation process that has occurred side by side the devaluation, would yield more pros than cons for the Banks.

Yes sir.
I think the only con is the dilution from the bloated OS.

If one of them (GTCO) begins the culture of buy back, the others are likely to copy.


They could just use 10% of their retained earnings to lean out these scary OS.

chimex38:
FG collected 70% of Banks' Forex gains of 2023/2024.
Wetin remain?

I didn't even follow up that their windfall tax story to the end.

It's too much! On top of 30% CIT, 2% education tax, and another 10% off PAT.

But like Pa Emma has been saying since 2018, Nigerian banks have mastered the art of making money.

No refinery in Europe is bigger than Dangote. Most of these refiners now work under capacity because 🇳🇬 imports less Petrol.

Itzlinda:
No refinery in Europe is bigger than Dangote. Most of these refiners now work under capacity because 🇳🇬 imports less Petrol.

That is why according to The Times, the coming on board of DR distorted the European Refining market to a large proportion.

Itzlinda:
No refinery in Europe is bigger than Dangote. Most of these refiners now work under capacity because 🇳🇬 imports less Petrol.

And Alhaji said they're making adjustments to turn it to a 700k bpd facility by next year.

awesomeJ:
And Alhaji said they're making adjustments to turn it to a 700k bpd facility by next year.

It is obvious Alhaji has a bigger plans and have everything mapped out. That's why he comes out gun blazing fighting anyone that stand his way

21.4℅ equity stake in RoyalEX.

https://doclib.ngxgroup.com/Financial_NewsDocs/44985_ROYAL_EXCHANGE_PLC.-NOTICE_OF_ACQUISITION_OF_SHARES__CORPORATE_ACTIONS_SEPTEMBER_2025.pdf

awesomeJ:
And Alhaji said they're making adjustments to turn it to a 700k bpd facility by next year.

Those European refiners were consistently supplying a phantom 66 million litres per day PMS to Nigeria in 2022, paid for through debt and about 400k bpd crude oil swap by NNPC to them. From the 66 million litres per day PMS supplied, some were sold to Niger, Benin, Togo, Cameroon and even as far as Ghana and Senegal.

Those guys were making a killing from our stupidity.

The situation in 2022 was so sad because due to this we couldn’t even benefit from the high oil prices in 2022 (due to Russia- Ukraine war) while Angola and other oil countries swelled with oil money.

Dangote at 700k bpd capacity saves us a lot by meeting our true consumption which is around 40 million litres per day and exporting the rest because they would still have about 20 million litres per day left over to export.

GeneralDae:
Those European refiners were consistently supplying a phantom 66 million litres per day PMS to Nigeria in 2022, paid for through debt and about 400k bpd crude oil swap by NNPC to them. From the 66 million litres per day PMS supplied, some were sold to Niger, Benin, Togo, Cameroon and even as far as Ghana and Senegal.

Those guys were making a killing from our stupidity.

The situation in 2022 was so sad because due to this we couldn’t even benefit from the high oil prices in 2022 (due to Russia- Ukraine war) while Angola and other oil countries swelled with oil money.

Dangote at 700k bpd capacity saves us a lot by meeting our true consumption which is around 40 million litres per day and exporting the rest because they would still have about 20 million litres per day left over to export.

Yes sir.

-------------------------------------------------------
Commenters, there's no political tone here ^^^ whatsoever.

Please just read it objectively.

jckgroup1:
21.4℅ equity stake in RoyalEX.

https://doclib.ngxgroup.com/Financial_NewsDocs/44985_ROYAL_EXCHANGE_PLC.-NOTICE_OF_ACQUISITION_OF_SHARES__CORPORATE_ACTIONS_SEPTEMBER_2025.pdf

@Locotrader

awesomeJ:
I didn't even follow up that their windfall tax story to the end.

It's too much! On top of 30% CIT, 2% education tax, and another 10% off PAT.

But like Pa Emma has been saying since 2018, Nigerian banks have mastered the art of making money.

I agree. They've mastered the art. unless sth global occurs.

Itzlinda:
It is obvious Alhaji has a bigger plans and have everything mapped out. That's why he comes out gun blazing fighting anyone that stand his way

He no even dey use him India Right hand man as spokesman again as he usually does in his other businesses.
He takes the bulls by the horn these days.
Indian man fit no contend with the street cabals easily.
Na Street Vs Street showdown going forward

GeneralDae:
Those European refiners were consistently supplying a phantom 66 million litres per day PMS to Nigeria in 2022, paid for through debt and about 400k bpd crude oil swap by NNPC to them. From the 66 million litres per day PMS supplied, some were sold to Niger, Benin, Togo, Cameroon and even as far as Ghana and Senegal.

Those guys were making a killing from our stupidity.

The situation in 2022 was so sad because due to this we couldn’t even benefit from the high oil prices in 2022 (due to Russia- Ukraine war) while Angola and other oil countries swelled with oil money.

Dangote at 700k bpd capacity saves us a lot by meeting our true consumption which is around 40 million litres per day and exporting the rest because they would still have about 20 million litres per day left over to export.

Has Nigeria totally stopped PMS importation?

Agbalowomeri:
Has Nigeria totally stopped PMS importation?

No just reduced.

jckgroup1:
21.4℅ equity stake in RoyalEX.

https://doclib.ngxgroup.com/Financial_NewsDocs/44985_ROYAL_EXCHANGE_PLC.-NOTICE_OF_ACQUISITION_OF_SHARES__CORPORATE_ACTIONS_SEPTEMBER_2025.pdf

This one na aeroplane.
It belongs to the sky.
Wait for Q3 result you go know how far.

Not sure the European refiners have anything to do with the 66m liters per day. It was just a fraudulent inflation done by the importers, in collaborarion with NNPC officials, politicians, and labor unions to siphon money from the government and the consumers, through a manipulation of the subsidy system. Unfortunately this arrangement has operated for so long that huge investments have been made in the form of large tank farms, port facilities, transportation trucks, filling stations, blending facilities abroad, and so on.

The government should have foreseen the coming to reality of the Dangote Refinery and start to plan for a new system. The government must still come in and buy off the port and tankfarm infrastructure of the importers and convert them into a strategic fuel reserve syatem, along with the existing fuel depots of the NNPC. This will allow the private sector refining industry to develop and fully remove government hands from refining. Funds to purchase fuel importers tankfarms can be raised through the sale of the government's refineries and/or listing the NNPCL on the NGX and raising funds by selling off government shares.

GeneralDae:
Those European refiners were consistently supplying a phantom 66 million litres per day PMS to Nigeria in 2022, paid for through debt and about 400k bpd crude oil swap by NNPC to them. From the 66 million litres per day PMS supplied, some were sold to Niger, Benin, Togo, Cameroon and even as far as Ghana and Senegal.

Those guys were making a killing from our stupidity.

The situation in 2022 was so sad because due to this we couldn’t even benefit from the high oil prices in 2022 (due to Russia- Ukraine war) while Angola and other oil countries swelled with oil money.

Dangote at 700k bpd capacity saves us a lot by meeting our true consumption which is around 40 million litres per day and exporting the rest because they would still have about 20 million litres per day left over to export.

Raider76:
Not sure the European refiners have anything to do with the 66m liters per day. It was just a fraudulent inflation done by the importers, in collaborarion with NNPC officials, politicians, and labor unions to siphon money from the government and the consumers, through a manipulation of the subsidy system. Unfortunately this arrangement has operated for so long that huge investments have been made in the form of large tank farms, port facilities, transportation trucks, filling stations, blending facilities abroad, and so on.

The government should have foreseen the coming to reality of the Dangote Refinery and start to plan for a new system. The government must still come in and buy off the port and tankfarm infrastructure of the importers and convert them into a strategic fuel reserve syatem, along with the existing fuel depots of the NNPC. This will allow the private sector refining industry to develop and fully remove government hands from refining. Funds to purchase fuel importers tankfarms can be raised through the sale of the government's refineries and/or listing the NNPCL on the NGX and raising funds by selling off government shares.

NNPC was doing crude swap close to 400k bpd of crude with European refineries to get just PMS (if I remember correctly).

So I think they were involved. Now they are running under capacity because they no longer have to produce such huge volumes for West Africa anymore and a refinery is something that goes under after some time when it can’t supply to capacity like before. It starts running at a loss because it would then start requiring some level of maintenance constantly.

This is not the only reason European refineries are shutting down though. The main reason is that most are old but this is one of the reason.

Ok. If you believe the numbers. The crude swap was the cashcow before the private fuel imports regime.

GeneralDae:
NNPC was doing crude swap close to 400k bpd of crude with European refineries to get just PMS (if I remember correctly).

So I think they were involved. Now they are running under capacity because they no longer have to produce such huge volumes for West Africa anymore and a refinery is something that goes under after some time when it can’t supply to capacity like before. It starts running at a loss because it would then start requiring some level of maintenance constantly.

This is not the only reason European refineries are shutting down though. The main reason is that most are old but this is one of the reason.

KarlTom:
Use the online form:

accounts.morgancapitalgroup.com/individual-forms/create

I registered Morgan capital using these form and they sent a follow up email to do KYC now they sent these mail that I should send an amount please gurus is these legit

mygee2:
I registered Morgan capital using these form and they sent a follow up email to do KYC now they sent these mail that I should send an amount please gurus is these legit

Maybe you should show the bank details you were asked to pay into.

Then we who have been paying into it for years can confirm if it's the same.

MCSE doing 2.26% of the market.

I did 1% of MCSE with half my portfolio 🎉🎉

crownprince2017:
By 2026 all this talk of bad governance will end as the dividend of reform will reach the common man on the street, u said how?

Government policy of floating naira forced many company to look inward which gave birth to BIP by a lot of manufacturing companies, the pharmaceutical companies are now producing more locally and also trying to increase local production eg fidson.

Oil and gas reforms have increase gas production and evacuation of the oil and gas products, increase in crude oil and drastic reduction in theft. Cng is gradually coming onboard, with filling stations that now dispense CNG. I know of bovas cng plants.

The same reforms also inspired increased in exports and reduction in imports.

Recently, government is working on 16 universities to be invested in to global standards so that government will stop educational aids out of Nigerian universities. Hence no creation of new university by government in Nigeria for 7 years.

All these are working already, we just need to compound the results over time and the inflation will be tamed substantially.

I'm of the believed cardoso should not cut rate now until the results outlined above compound well enough.
Once the results compound, cut rate you will be amazed how the narrative will change quickly.

This government are not doing everything right but they are doing majority right..

Just imagine how much will be saved in fx from the BIP by the manufacturing companies alone.

Paper analysis.
We heard more of this during Buhari’s tenor.

There are no reforms anywhere.

While inflation is reducing on paper, market realities says otherwise.

All they do is propaganda and lies like you are pushing out here.

Anybody that believes this rubbish you posted or thinks that this government is doing anything to better the lot of the masses is on a long thing.

crownprince2017:
By 2026 all this talk of bad governance will end as the dividend of reform will reach the common man on the street, u said how?

Government policy of floating naira forced many company to look inward which gave birth to BIP by a lot of manufacturing companies, the pharmaceutical companies are now producing more locally and also trying to increase local production eg fidson.

Oil and gas reforms have increase gas production and evacuation of the oil and gas products, increase in crude oil and drastic reduction in theft. Cng is gradually coming onboard, with filling stations that now dispense CNG. I know of bovas cng plants.

The same reforms also inspired increased in exports and reduction in imports.

Recently, government is working on 16 universities to be invested in to global standards so that government will stop educational aids out of Nigerian universities. Hence no creation of new university by government in Nigeria for 7 years.

All these are working already, we just need to compound the results over time and the inflation will be tamed substantially.

I'm of the believed cardoso should not cut rate now until the results outlined above compound well enough.
Once the results compound, cut rate you will be amazed how the narrative will change quickly.

This government are not doing everything right but they are doing majority right..

Just imagine how much will be saved in fx from the BIP by the manufacturing companies alone.

People wrote far more than this during buhari. The difference here is that tinubu will milk the masses dry.

tpain121:
Paper analysis.
We heard more of this during Buhari’s tenor.

There are no reforms anywhere.

While inflation is reducing on paper, market realities says otherwise.

All they do is propaganda and lies like you are pushing out here.

Anybody that believes this rubbish you posted or thinks that this government is doing anything to better the lot of the masses is on a long thing.

Can you tell us things you bought last year that the prices have increased by way more than 20%?
I was looking at the numbers, the inflation rates numbers should actually be way less. Fuel has reduced Y-O-Y, cement, rice, even the currency/$.…none has increased in price Y-O-Y. Most reduced.

Olaide1295:
Can you tell us things you bought last year that the prices have increased by way more than 20%?
I was looking at the numbers, the inflation rates numbers should actually be way less. Fuel has reduced Y-O-Y, cement, rice, even the currency/$.…none has increased in price Y-O-Y. Most reduced.

Lagos Abuja flight was 55k last year now 105k rents are 40 percent higher school fees .

Educationalserv:
Lagos Abuja flight was 55k last year now 105k rents are 40 percent higher school fees .

55k in 2024? Where you see am?

awesomeJ:
MCSE doing 2.26% of the market.

I did 1% of MCSE with half my portfolio 🎉🎉

1% of MCSE= 38.5M

VFD sells Abbey Mortgage Bank shares worth N2.72 billion after over 190% rally

https://nairametrics.com/2025/09/20/vfd-sells-abbey-mortgage-bank-shares-worth-n2-72-billion-after-over-190-rally/

Educationalserv:
Lagos Abuja flight was 55k last year now 105k rents are 40 percent higher school fees .

hmmnnnn....