₦airaland Forum

GeeKudi:
Of course, this can be argued, but like I said, mine is just political permutations. Campaign money must come out and must seem legit.

mikeapollo:
Really?
Well, time will tell.
It is better undervalued so that investors can benefit more when the price appreciates

megawealth01:
https://www.thecable.ng/unity-bank-says-merger-with-providus-firmly-on-track/#:~:text=On%20September%2026%2C%202025%2C%20Unity,an%20official%20announcement%20expected%20soon.

On September 26, 2025, Unity Bank Plc said its shareholders had approved its merger with Providus Bank Limited.

Under the scheme, all assets, liabilities, and undertakings of Unity Bank will be transferred to Providus Bank, while all legal proceedings involving Unity Bank will continue in the name of Providus Bank after court sanction.

As part of the consideration, the statement said Unity Bank shareholders will either receive N3.18 per share or be allotted 18 ordinary shares of Providus Bank for every 17 shares previously held in Unity Bank.

TheCable had reported that the proposed merger between the two banks had reached the final stage, with an official announcement expected soon.

megawealth01:
@mike...

This is the true picture... It's either you take cash or you get new PROVIDUS shares allotted to you...

"As part of the consideration, the statement said Unity Bank shareholders will either receive N3.18 per share or be allotted 18 ordinary shares of Providus Bank for every 17 shares previously held in Unity Bank."

mikeapollo:
Okay, thanks.
I guess most shareholders would opt for shares

megawealth01:
The reason for bringing this to your attention and many others of my followers is to let una know that we have choice to either SURRENDER at a price or get new allotted PROVIDUS SHARES

From the just concluded PRIVATE PLACEMENT they sold PROVIDUS for 8 naira... And it was rushed before una even got the feel

Babi la hot🔥

Just got the RECORDS

mikeapollo:
Okay, thanks.
I guess most shareholders would opt for shares

PropTrader:
If history is to repeat, then Unity Bank shareholders will likey be paid in cash. Shareholders of the savings and loans companies, including Spring Mortgage, that were acquired or merged with United Mortgage before it transmuted to Providus Bank were all paid cash for their shares. If Providus owner does a share exchange then his shareholder base will balloon beyond 50 shareholders and he will be forced to converr to a Plc by law. I doubt he want to run a Plc for now.
It will be interesting to see their rights issue circular. It should throw some light but in absence of that I tend to believe he will pay off the shareholders in cash. It's the cheaper option for him in the long run.

PropTrader:
If history is to repeat, then Unity Bank shareholders will likey be paid in cash. Shareholders of the savings and loans companies, including Spring Mortgage, that were acquired or merged with United Mortgage before it transmuted to Providus Bank were all paid cash for their shares. If Providus owner does a share exchange then his shareholder base will balloon beyond 50 shareholders and he will be forced to converr to a Plc by law. I doubt he want to run a Plc for now.
It will be interesting to see their rights issue circular. It should throw some light but in absence of that I tend to believe he will pay off the shareholders in cash. It's the cheaper option for him in the long run.

yMcy56:
They're pending NAHCO from moving till after they're done with GT 😊
NAHCO ought to resume on full bid..

Meanwhile, GTCO resumed @123.90....
But profit takers are at work....
They may still likely move GT to 150...

GTCO dragging ZENITH along....
ZEE @104 as at now......Up with N8

* NEWGOLD @202,000 per Ounce....

aj8:
Each security represents approximately 1/100th of an ounce. I can't understand why anyone would pay N202,000 for 1/100th of an ounce of gold.

The following conversions are based on the mid-market exchange rates as of April 1, 2026. Please note that these figures represent the estimated Naira value for one share of the NewGold ETF on each respective exchange:…Google AI


South Africa (JSE): ₦59,736.21
Calculation: ZAR 725.70 × 82.315 ZAR/NGN.

Nigeria (NGX): ₦186,000.20
This is the direct local price; it is currently trading at a significant premium compared to other regional listings.

Kenya (NSE): ₦56,454.67
Calculation: 5,315.66 KES × 10.620 KES/NGN.

Botswana (BSE): ₦65,223.15
Calculation: 641.81 BWP × 101.624 BWP/NGN.

Mauritius (SEM): ₦59,087.46
Calculation: 2,000.00 MUR × 29.544 MUR/NGN.

GeneralDae:
OANDO COMMENCES FINAL INSPECTIONS FOR 60MW GAS TURBINE

​Oando (formerly Nigerian Agip Oil Company) has mobilized personnel for a critical inspection of its gas manifold infrastructure.

This technical review is the final step required before releasing gas into the newly completed 60-megawatt gas turbine, ensuring all systems are primed for operational takeoff.

As the primary energy provider for the project, Oando’s successful "gas-in" process is the catalyst for the facility’s launch.

This milestone comes as Bayelsa State prepares for the official visit of President Bola Ahmed Tinubu, GCFR, who will formally commission the turbine along with several other signature projects in the coming days.

https://x.com/microsmoothie/status/2039380748130533553?s=46[/quote]OANDO PLC

Fake it till you make it

robobo:
Abeggiiii make una face front

Oando has not fully utilised the full 960MW capacity of Kwale-Okpai Power Plant but is going after / procuring another 60 MW turbine.

Bunch of unserious people. if they are serious, by now the utilisation of Kwale-Okpai Power Plant should have moved from the about 300-350 they took over from NAOC to its full capacity of 960 mw. Also talk should have been in place to spin it off as an entity standing alone on NGX thereby maximising its value and releasing some cashflow for Oando itself but i guess that is not immediately gratifying like the 60mw.

Unserious bunch.

mikeapollo:
You may have solid points of concern.
just some curiosity:
If NAOC operated the power plants for several years and handed it over to Oando at only 300-350mw in Aug/Sep 2024, how do you expect Oando to move and almost triple the capacity to 960mw just after about 12-18months?

robobo:
How did Tony increase the capacity of Ughelli?

mikeapollo:
Tell us if he did it in 12-18 months, immediately after he acquired it.
Transcorp Power transaction took place several years before now.

It is good to push Oando to do it, but I am not sure such was feasible in 12-18months considering the fact that it Is part of a larger set of assets acquired from NAOC

robobo:
so the goal post has shifted from how to do it (as if it is impossible)? to how long did it took to do it (to it is possible but what time frame)

Okay ooooo. that will also soon cahnge becuase the information are in public domain

let us continue to defend/ support mediocrityy/ cunningness/ greediness

you have something that you have not fully exploited; barely exploiting 30-40% of its value then you go and buy an extra piece of the same thing. and start making media round to celebrate same.

its okayyyyyyyyyyyyyyyy

mikeapollo:
Maybe you did not read my earlier post very well.
My question was how do you expect them to do it in 12-18months; before you responded by making reference to Tony did at Ugheli

robobo:
i replied you that the info is in public domain

"" Key Milestones and Achievements
Capacity Turnaround: At the time of the physical takeover on November 1, 2013, the plant was generating only 160 MW. Within just two years, Transcorp increased this by over 525%, reaching 620 MW by 2017.""


above states that Tony increase Ughelli capacity by 525% within two years of take over.

Not only that there was clear communication on intent by Tony all through the two years, is there any communication from Oando by now. i remember vividly that after the two years increase there was also clear communication by Tony that the target was 1000 and they will be partnering with GE to achieve same

let us continue to defend/ support mediocrityy/ cunningness/ greediness

mikeapollo:
It is okay. Never intended this to be a back and forth issue. You are 10000000% correct and right!

robobo:
Escape valve instead of facing the fact that it is possible within the time frame and calling out the actors

we have a long way to go

ciao