₦airaland Forum

Streetinvestor2:
The results and information has proven me right again. Everyone here remember me shouting insiders are selling directly and indirect. They had thr agents here promoting the scam alert. This was why thr was no RI to the fund raising. They formed cabal on my matter with one audio billionaire and one other barawo who attacked everyone on kpakus matter. He only came to say rubbish after they had met thr target and sold
They are back to promote another fraud called unity Bank after warehousing the junk

Yeah. You were so on point on this.
You were consistently mentioning and warning that they were selling off and dumping to uninformed retailers. Even questioned why the loan-equity conversions were placed at 3 or so after the price had gone way beyond the price.


These guys don hammer....
Dem don't Use style collect back their loans and forfeited salaries with mouth watering interest. wey even pass the Principal loansl amount.

nosa2:
To all Ellah lakes refugees remember you can buy ETI

I recall you were init and later bailed out despite the hype then.

Lass lass in combination with others, it's good to also do one's own DD and stick with it. Whether it works out or not, one learns from it within a defined direction.

Somebody should be sesybul enough to know that you can have a conviction and later found out that things are not going the way you think it should go and you come and tell others who might have bought the idea based on your views that you have bailed out when the ovation was still very loud and sound.

I did just that and many folks here can bare me witness.

As an old man, applying sense in everything is inevitable.

Since you are now a politician and so sure that the current administration wouldn't return come 2027, election is just some months away.. I'm waiting for you here.


Once the president is declared the winner, I no go entertain any story, I will bash your ancestors commot for here.

We are watching in 1000D

I followed the Ellah Lakes posts including the warnings. My conclusion was that many people are gambling rather than investing. It was so obvious what was happening. Having said this, I believe the Security and Exchange Commission should spring into action. What the Ellah Lakes management has done is fraud.

Streetinvestor2:
The results and information has proven me right again. Everyone here remember me shouting insiders are selling directly and indirect. They had thr agents here promoting the scam alert. This was why thr was no RI to the fund raising. They formed cabal on my matter with one audio billionaire and one other barawo who attacked everyone on kpakus matter. He only came to say rubbish after they had met thr target and sold
They are back to promote another fraud called unity Bank after warehousing the junk

KarlTom:
And there was no disclosure on the sale since 31 December 2025.

That's very bad signal (or PR)...

Insider trades without disclosure? Let’s see what NGX will make of these multiple infractions. Ngx had earlier issued warnings to some companies on similar infractions not long ago. Very bad indeed.

Streetinvestor2:
The results and information has proven me right again. Everyone here remember me shouting insiders are selling directly and indirect. They had thr agents here promoting the scam alert. This was why thr was no RI to the fund raising. They formed cabal on my matter with one audio billionaire and one other barawo who attacked everyone on kpakus matter. He only came to say rubbish after they had met thr target and sold
They are back to promote another fraud called unity Bank after warehousing the junk

Yeah, you can be harsh on your criticism, but you are mostly right on many issues.

Bubble sometimes takes long time to burst, that's why some people think your analysis are off.

Your thesis have been proven again, fundamentals will always matters and bubble will burst no matter how long it will take

In Pursuit of High-Yield Dividends: Lessons from an App Glitch for Investors
In my ongoing search for attractive dividend-paying stocks—the investor’s equivalent of finding the honeycomb—I tried a quick shortcut on the Cowryvest platform to check the latest weekly dividend announcements.
One figure immediately caught my eye: it appeared to show a dividend of ₦6.25 kobo for UPDC Plc, a Nigerian-listed real estate company. At first glance it looked too good to be true… and, as the saying goes, if something sounds too good to be true, it usually is.
I paused. This was the same “next-to-mediocre” stock I had just sold a million units of during a portfolio rebalance. Could it really be paying such a generous dividend right after I exited? I immediately cross-checked the official announcement on the Nigerian Exchange (NGX) corporate disclosures portal. The actual dividend declared was just 1 kobo per share (₦0.01), before the standard 10% withholding tax.
The eye-popping ₦6.25 kobo figure was clearly a display error on the app.
For a split second I was tempted to blame “village people”—that classic Nigerian shorthand for mysterious external forces or bad luck supposedly conspiring against you. But I caught myself.
The real lesson is this: when things don’t go as planned in the markets, newer investors often look for someone (or something) else to blame. In equity investing, however, there are no village people, no curses, and no supernatural culprits. Every investor—beginner or seasoned—is 100% responsible for their own decisions and omissions.
Imagine selling a stock you bought at ₦0.94 only to watch it climb to ₦4.98, then seeing what looked like a massive dividend announcement shortly afterward. That sting of “what if I had held?” is real—but it’s part of the game. The markets owe us nothing, and neither do apps or data feeds.
So the next time a number looks off, double-check the official source before you react. And leave the village people out of it—they’ve got enough on their plate already.
Moral for investors everywhere: Verify, don’t assume. Own your trades. And always remember—high dividends that seem too perfect are usually just a glitch.

Hahahaha

Streetinvestor2:
The results and information has proven me right again. Everyone here remember me shouting insiders are selling directly and indirect. They had thr agents here promoting the scam alert. This was why thr was no RI to the fund raising. They formed cabal on my matter with one audio billionaire and one other barawo who attacked everyone on kpakus matter. He only came to say rubbish after they had met thr target and sold
They are back to promote another fraud called unity Bank after warehousing the junk

Mankind2024:
In Pursuit of High-Yield Dividends: Lessons from an App Glitch for Investors
In my ongoing search for attractive dividend-paying stocks—the investor’s equivalent of finding the honeycomb—I tried a quick shortcut on the Cowryvest platform to check the latest weekly dividend announcements.
One figure immediately caught my eye: it appeared to show a dividend of ₦6.25 kobo for UPDC Plc, a Nigerian-listed real estate company. At first glance it looked too good to be true… and, as the saying goes, if something sounds too good to be true, it usually is.
I paused. This was the same “next-to-mediocre” stock I had just sold a million units of during a portfolio rebalance. Could it really be paying such a generous dividend right after I exited? I immediately cross-checked the official announcement on the Nigerian Exchange (NGX) corporate disclosures portal. The actual dividend declared was just 1 kobo per share (₦0.01), before the standard 10% withholding tax.
The eye-popping ₦6.25 kobo figure was clearly a display error on the app.
For a split second I was tempted to blame “village people”—that classic Nigerian shorthand for mysterious external forces or bad luck supposedly conspiring against you. But I caught myself.
The real lesson is this: when things don’t go as planned in the markets, newer investors often look for someone (or something) else to blame. In equity investing, however, there are no village people, no curses, and no supernatural culprits. Every investor—beginner or seasoned—is 100% responsible for their own decisions and omissions.
Imagine selling a stock you bought at ₦0.94 only to watch it climb to ₦4.98, then seeing what looked like a massive dividend announcement shortly afterward. That sting of “what if I had held?” is real—but it’s part of the game. The markets owe us nothing, and neither do apps or data feeds.
So the next time a number looks off, double-check the official source before you react. And leave the village people out of it—they’ve got enough on their plate already.
Moral for investors everywhere: Verify, don’t assume. Own your trades. And always remember—high dividends that seem too perfect are usually just a glitch.

All this epistle on top 'typographical error'

I am seriously considering enrolling in a theology course. In everyday life, everyone already calls me “Pastor.”
This would give me the perfect platform and deeper knowledge to finally write the letters I’ve been carrying in my heart: An Epistle to Agbalowomeri, An Epistle to Nsempa. An Epistle to Streetinvestor and Locodemy.

Agbalowomeri:
All this epistle on top 'typographical error'

A few years ago, Meyer Plc was trading at a rock-bottom price of under ₦0.20 per share.
Then the unimaginable happened.
The company declared a special dividend of ₦1.50 per share.
It was pure excitement — the kind of moment every dividend hunter dreams about. We all missed out!!!!

Agbalowomeri:
All this epistle on top 'typographical error'

We were both at the forefront of warning investors about Mr. Chuka’s background and past dealings.
I personally wrote a letter to him and published it on this platform. However, influential broker circles quickly stepped in and made sure their own agenda prevailed.
It was a blatant case of manipulation that hurt everyday investors.
Interestingly, it was only shortly after my hard-hitting letter exposing the GB52 company that Mr. Chuka finally addressed investors publicly on X for the very first time.
Big kudos to StreetInvestor for never backing down and consistently calling out these broker influencers on the platform.

Streetinvestor2:
The results and information has proven me right again. Everyone here remember me shouting insiders are selling directly and indirect. They had thr agents here promoting the scam alert. This was why thr was no RI to the fund raising. They formed cabal on my matter with one audio billionaire and one other barawo who attacked everyone on kpakus matter. He only came to say rubbish after they had met thr target and sold
They are back to promote another fraud called unity Bank after warehousing the junk

Streetinvestor2:
The fact remains your noise or that of anyone will not make any difference. You whr waiting to see Iran wipe out isreal or any other small country by the terrorist backed government. I can bet you till christ returns .It will never happen. It does not matter how many AI generated history you try to post.Make sure you go to other forums whr your ID is not hidden to be making your post so it could be heard .

It sounds like you get your news from a beer parlor. I don’t have time to educate you individually. Take the time to study, or remain ignorant, that’s your choice.

People who made money in Ellah Lakes have made money; those who lost, lost and the rest can keep wailing. Not everyone has to be an investor. It’s perfectly legal to trade any stock on the NGX. And to a large extent, it is the duty of the NGX to protect investors.

I traded Ellah Lakes from 3 up to between 6 and 8, then decided to exit while waiting for further justification. Trading is about buying and selling at a higher price while managing risk, I’ve said this before.

crownprince2017:
Since you are now a politician and so sure that the current administration wouldn't return come 2027, election is just some months away.. I'm waiting for you here.


Once the president is declared the winner, I no go entertain any story, I will bash your ancestors commot for here.

We are watching in 1000D

the man will come and go,there is nothing there. If former sgf in gej administration fit collect DG under tinubu with two hands or the other one that was powerful under gej saying anything tinubu give am he go collect,then anything can happen to any of the present ones after this government. All the formers dey beg for anything in this government so nothing dey there.

ositadima1:
It sounds like you get your news from a beer parlor. I don’t have time to educate you individually. Take the time to study, or remain ignorant, that’s your choice.

Lol.My own is stop making noise on faceless forum about the issue. Go to forums whr it is not faceless and be making ur yeye post supporting terrorist government. Abi trump visa restrictions dey follow pain u.If it so,you don't need it.Stay here and build your own country like some of us believe

ositadima1:
People who made money in Ellah Lakes have made money; those who lost, lost and the rest can keep wailing. Not everyone has to be an investor. It’s perfectly legal to trade any stock on the NGX. And to a large extent, it is the duty of the NGX to protect investors.

I traded Ellah Lakes from 3 up to between 6 and 8, then

I totally agree with this submission . It’s a market for a reason, if everybody buys only Presco and GTB I bet we won’t enjoy the market as much as we do. Some people are just traders and will trade anything with a price to it. Some will also not learn some valuable lessons until they have paid school fees

See yeye talk from chief promoter of the scam alert taking about failed government. I knew u whr part of the insiders trying to pump to sell.Whr is the oil from the commissioned oil mill.So the management whr commissioning oil mill while selling thr holdings. Whr is the HQ located now as you claimed the address then was fake.

KarlTom:
Does it mean that Mr Chuka and other directors only gathered ₦7bn ?
Even, the CFO, Mr Hewett Adegboyega Benson couldn't pull FPI?

Money no dey but they spent ₦1,701,905,000 on the PO.
It is well...

The last statement got me rolling

Lol, I remember saying if they see 20 billion. I will give them pass mark and mordi was likely to japa to one island.

Rmichael23:
I totally agree with this submission . It’s a market for a reason, if everybody buys only Presco and GTB I bet we won’t enjoy the market as much as we do. Some people are just traders and will trade anything with a price to it. Some will also not learn some valuable lessons until they have paid school fees

This life no balance. NGX sef no balance.
Some people might have had confidence in Ellah based on their convictions and projections, which others may have issues with.
Same way some of us have bought some stocks which some people see as Ponzi e.g. Oando. Some even call us shell-holders. But I stick to my convictions.
All die be die

The bigger issue is that without this ₦7bn received from insiders and due back after the failed public offer but still held as a payable, Ellah Lakes would be technically insolvent. They only have about ₦3bn in cash and other current assets.

If there is a falling out among the insiders or if one party faces their own financial crisis and needs to "call in" their support, the company has no visible cash buffer to survive the demand.

And we're not even talking about the reputational and trading impact of a potential SEC investigation yet. For the remaining believers out there: Extreme caution advised.

KarlTom:
Does it mean that Mr Chuka and other directors only gathered ₦7bn ?
Even, the CFO, Mr Hewett Adegboyega Benson couldn't pull FPI?

Money no dey but they spent ₦1,701,905,000 on the PO.
It is well...

The last statement got me rolling

chimex38:
I recall you were init and later bailed out despite the hype then.

Lass lass in combination with others, it's good to also do one's own DD and stick with it. Whether it works out or not, one learns from it within a defined direction.

I am still going to buy a lot in a few years.

Rmichael23:
I totally agree with this submission . It’s a market for a reason, if everybody buys only Presco and GTB I bet we won’t enjoy the market as much as we do. Some people are just traders and will trade anything with a price to it. Some will also not learn some valuable lessons until they have paid school fees

No-one is against the TRADING. It is even good for TRADING hype based in its growth prospect structural imbalance at the time but the INVESTING hype by media is the koko without considering the fundamental loopholes being pointed out consistently by some members here.

Mankind2024:
We were both at the forefront of warning investors about Mr. Chuka’s background and past dealings.
I personally wrote a letter to him and published it on this platform. However, influential broker circles quickly stepped in and made sure their own agenda prevailed.
It was a blatant case of manipulation that hurt everyday investors.
Interestingly, it was only shortly after my hard-hitting letter exposing the GB52 company that Mr. Chuka finally addressed investors publicly on X for the very first time.
Big kudos to StreetInvestor for never backing down and consistently calling out these broker influencers on the platform.

Yeah, I recall your epistle letter

emmanuelewumi:
Thank God the public offer failed.


It would not have failed if insiders bought the public offer, rather they were looking for the next mugu

can they be investigated That expose on their office hq in first east circular area in Benin city was a huge red flag.

nosa2:
I am still going to buy a lot in a few years.

Of course. It will still grow in the near term; only this time Chuka and Co should allow more organic growth and be conservative in forecasted timelines..
The number of deadline misses is becoming sth else without earlier information.

I am only just recalling how you looked "foolish" after entering with justification and then bailing out days or weeks later with updated justification.

It took balls from you to post it at the time, knowing what it meant with the investment hypers.
It wasn't easy..kudus.
I am just picking from that.

KarlTom:
The last statement got me rolling

Based on what has happened, I don't believe that last statement either. I suspect within the same next 12months, The insiders PO participants might just do another round of hype to pump the stock again to x3 or x4 to sell their remaining share holdings to recoup the PO funds..

mikeapollo:
This life no balance. NGX sef no balance.
Some people might have had confidence in Ellah based on their convictions and projections, which others may have issues with.
Same way some of us have bought some stocks which some people see as Ponzi e.g. Oando. Some even call us shell-holders. But I stick to my convictions.
All die be die

You are fully aware of what you are into. Not blinded by the downsides as you've acknowledged them here yourself, yet very optimistic about the upsides. Na why I like your style.

In Ellahs case, it's either some were blinded on the downsides, or didn't care much if it exists or classified it as inconsequential without admitting or acknowledging it could be significant but focused 100% on the upside alone with one sided massive advocacy especially as PRESCO and OKOMU were doing wonders..

AK47 sarcastic😉😊🫠
Well, not a GB57 ordinance BB🇺🇸

chimex38:
Yeah, I recall your epistle letter

chimex38:
Of course. It will still grow in the near term; only this time Chuka and Co should allow more organic growth and be conservative in forecasted timelines..
The number of deadline misses is becoming sth else without earlier information.

I am only just recalling how you looked "foolish" after entering with justification and then bailing out days or weeks later with updated justification.

It took balls from you to post it at the time, knowing what it meant with the investment hypers.
It wasn't easy..kudus.
I am just picking from that.

If I ever reinvest in this company I will do it only if I have the ability to buy a large enough stake to fire management.

The current management is made up of bankers and financial engineers not farmers and industrialists. They have a wonderful plan but they just need to shut up and focus on execution. Farming is not sexy business, it is a slow process but it is extremely profitable.


PS did you buy some ETI today?

https://open.spotify.com/episode/4sYvBnSOjRtJZXLFtqwTg3

NGX Daily market summary for today.