₦airaland Forum

I had initially chosen to ignore your self-defeatist post and scroll past it. Even though this is a faceless forum, it was obvious who the indirect shade was aimed at. But now, I decided to respond.

Your message does not define me. Not even a little. It is nothing but a misplaced, bitter analogy born from deep imagination, myopic understanding, malice, and sheer belicosity.
You saw someone sharing their investing journey, the ups, downs, lessons, and wins, and instead of taking value from it, your heart chose resentment.

Let me be clear: I share my experiences for two main reasons. First, as personal motivation and documentation of my own path.
Second, as a heartfelt expression of gratitude to the Almighty God who alone has the power to transform a slave into a king, the poor into wealth, the hopeless into grace, and the barren into a joyful mother.
That is not pride, that is worship and testimony. If that bothers you, the problem is not with my sharing, it is with what lives in your heart.
The same energy you used to write that post attacking people who celebrate their progress could have been used to focus on your own growth.
But instead, you chose to generalise, insult, and paint every successful Nigerian as arrogant and boastful simply because they refuse to hide their blessings or stay silent like you prefer.
That is classic crab mentality. You are not calling for humility, you are uncomfortable with other people's light while sitting in your own darkness.

May God heal whatever is eating you up inside and grant you the grace to celebrate others instead of resenting their testimonies. The same God that elevated some is still available to elevate you too, but not with this spirit.
Change your heart, my brother. This kind of post only exposes you, it doesn't diminish those walking in gratitude.
Success is not the problem. Envy disguised as advice is. (Proverbs 26:24-26, James 3:14-16)

mikeapollo:
I have realized that most Nigerians who become privileged or blessed don't know how to remain humble, modest, keep low profile and be less boastful. They think they made it because they are smarter than others, and those who are underprivileged or still struggling are less intelligent, less brilliant or not smart enough.
That is why whenever they have some anniversary or occasion to celebrate, they would invite musicians to sing their praises and use the opportunity to brag that they are better, superior to some unknown or imaginary rivals or enemies etc. Just to prove that they are ''above them''

Scooped MTN @800 today. Looking for liquidity to load Wapco

deathwing:
Managed to get some MTN at 804/5. Wapco at 309.

Stockhunter:
So wema bank eps in Q1 2026 is more than their entire 2025 eps. Interesting.

Q1 2026 eps is 7.90 while entire 2025 eps is 7.08. this was achieved not recovering from loss o. i think the market is underating this bank. If the earnings hold for the rest of the quarter or even do 5 naira for the remaining 3 quarters, thats over 20 naira eps. Matching that of the fugaz like zenith and stanbic.. if we do PE of 3.5x thats above 100 naira... In less than 2 years wema go touch 100.. i need to beam my touchlight on this stock though not a fan of banks

Is there any blind spot i am missing.

Look the data well. It is annualised

NSEstudent:
I noticed NAHCO didn't stay much at your target of below 200

E go shock you.

Next destination is between N270 and N300 in the next 12 months

Sunrisepebble:
Scooped MTN @800 today. Looking for liquidity to load Wapco

At what price are you planning to go in?

I am planning to raise m and buy more at N300, which will be approved by my stockbrokers in less than 24 hours

Streetinvestor2:
This particular insurance was it the formal standard alliance insurance

Yes.

okenze007:
Good evening all.
Pls I have some shares I bought around 2008 to 2013
Among them are
zenith Bank
Access bank
May and baker
Japaul oil
Eco bank transnational
I just stumbled on them within the after I heard about zenith Bank dividends.
I have about 2343 shares on zenith but for the last 10 years I have not received dividend.
Pls how do I go about receiving my dividends
Thanks

Get in touch with a stockbroker. They will assist you with in opening, share transfer and movement if possible

Stockhunter:
So wema bank eps in Q1 2026 is more than their entire 2025 eps. Interesting.

Q1 2026 eps is 7.90 while entire 2025 eps is 7.08. this was achieved not recovering from loss o. i think the market is underating this bank. If the earnings hold for the rest of the quarter or even do 5 naira for the remaining 3 quarters, thats over 20 naira eps. Matching that of the fugaz like zenith and stanbic.. if we do PE of 3.5x thats above 100 naira... In less than 2 years wema go touch 100.. i need to beam my touchlight on this stock though not a fan of banks

Is there any blind spot i am missing.

My spreadsheet flagged it as well. Projected ROE is over 147%. I haven't had time to go through the books but the unusually high ROE made me think there is something wrong with the numbers

300-310 I believe would be a fantastic entry to load heavily. I might need to raise money too because I’m low on liquidity due to other projects

I heard whisper that Wapco will pay an interim dividend Q2 or Q3 this year despite the expansion plans

emmanuelewumi:
At what price are you planning to go in?

I am planning to raise 100m and buy more at N300, which will be approved by my stockbrokers in less than 24 hours

Search here for dividends (not always accurate sha):
https://eportal.sec.gov.ng/non-mandated

Use this link to claim your dividends electronically:
https://docuhub3.nibss-plc.com.ng/edmms/self-service

Act without delay: Dividends become "statute-barred" if unclaimed after 12 years, meaning you may not be able to get them.

okenze007:
Good evening all.
Pls I have some shares I bought around 2008 to 2013
Among them are
zenith Bank
Access bank
May and baker
Japaul oil
Eco bank transnational
I just stumbled on them within the after I heard about zenith Bank dividends.
I have about 2343 shares on zenith but for the last 10 years I have not received dividend.
Pls how do I go about receiving my dividends
Thanks

Streetinvestor2:
Why did they choose to pay dividend when they needed capital for Expansion at this stage. It was not a wise decision

Your answer is in the article link I gave earlier....

https://nairametrics.com/2026/05/04/zichis-plc-secures-shareholders-approval-for-n50-billion-capital-raise/

emmanuelewumi:
At what price are you planning to go in?

I am planning to raise 100m and buy more at N300, which will be approved by my stockbrokers in less than 24 hours

See money. I will like to be like u when I grow up

yMcy56:
Your answer is in the article link I gave earlier....

https://nairametrics.com/2026/05/04/zichis-plc-secures-shareholders-approval-for-n50-billion-capital-raise/

The bunus is understand for liquidity
For dividend was a bad decision at this time

emmanuelewumi:
E go shock you.

Next destination is between N270 and N300 in the next 12 months

Can they pay N30 dividend this year?

Heishere:
Can they pay N30 dividend this year?

The will pay #50 since you no sabi look q1 results to gadge what full yr result fit be.Na #300 dey go pay

okenze007:
Good evening all.
Pls I have some shares I bought around 2008 to 2013
Among them are
zenith Bank
Access bank
May and baker
Japaul oil
Eco bank transnational
I just stumbled on them within the after I heard about zenith Bank dividends.
I have about 2343 shares on zenith but for the last 10 years I have not received dividend.
Pls how do I go about receiving my dividends
Thanks

First you will need to complete the e-dividend mandate form to enable you receive all your unclaimed dividend that is not older than 12 years.

Secondly, you need to open a stock/cscs account with a stockbroking firm and dematerialize the shares if they are still in paper certificates or misplaced, this will enable you have value for your investment.

You can get in touch for more guidance and to open a cscs account with investment one stockbrokers.

Streetinvestor2:
The will pay #50 since you no sabi look q1 results to gadge what full yr result fit be.Na #300 dey go pay

I wan know why that price is a bargain when they can't afford 10% dividend yield at that price?

pluto09:
https://doclib.ngxgroup.com/Financial_NewsDocs/ACCESS_HOLDINGS_PLC_-_CLARIFICATION_ON_NON_PAYMENT_OF_DIVIDEND.pdf

I've gone to look at the rules and access Q1 and compared it with what they put here. I'll be as detailed as possible. But summary is, its not looking too good. Those acquisitions outside are the reason they cannot pay dividends as they are over the 10% CBN Limit.

Access Holdings Dividend: The Rules, The Limits And What They May Pay In 2026

Access Holdings’ dividend issue is not mainly about profit. It is about regulatory approval and how much dividend the parent company is allowed to pay.

The company made strong profit, but because it is a financial holding company with banking subsidiaries, CBN still has to be comfortable that all capital and foreign subsidiary rules have been met before dividend can be paid.

The simple summary is this:

Access can report strong profit and still pay no dividend if CBN does not approve it.

So the possible 2026 dividend range is:

Minimum: ₦0.00 per share

Current possible ceiling based on Q1 2026 parent retained earnings: about ₦1.09 per share

Higher possible ceiling if Q1 parent earnings continue for the full year and approval is received: about ₦1.63 per share

Why They Did Not Pay Dividend

Access referred to two main regulatory issues.

1. The CBN HoldCo Capital Rule

Access Holdings is not just a bank. It is the holding company above Access Bank and other subsidiaries.

Under the CBN HoldCo rule, the parent company must have enough recognised capital to support the businesses under it.

The important point is that CBN was not looking at all forms of equity. The regulator clarified that the minimum paid up capital should be calculated using only:

Par value of issued shares plus share premium

This means retained earnings and other reserves may not count for that specific capital test.

Access said this issue affected the half year dividend, but it has now been resolved after the private placement.

The private placement was about ₦21.42 billion, and Access said this brought the Group into compliance with the revised minimum paid up capital requirement.

So this first issue appears to have been addressed.

2. The BOFIA Foreign Subsidiary Investment Rule

This is the bigger issue for the full year dividend.

The BOFIA rule basically says a Nigerian bank should not have too much of its shareholders’ funds tied up in foreign subsidiaries without CBN approval.

The rule refers to a limit of 10 percent of shareholders’ funds unimpaired by losses, unless CBN allows another percentage.

In simple terms:

Access Bank cannot put too much capital into foreign subsidiaries unless CBN is comfortable with it.

This matters because Access has expanded heavily outside Nigeria.

Access Bank has foreign subsidiaries in places such as Gambia, Sierra Leone, Rwanda, Zambia, the UK, Congo, Ghana, Guinea, Mozambique, Kenya, South Africa, Botswana, Cameroon, Angola and Tanzania.

From the latest Q1 2026 financial statement, Access Bank’s indirect subsidiaries were about ₦446.6 billion.

Access Bank Nigeria’s equity was about ₦2.316 trillion.

If the 10 percent rule is applied strictly, then 10 percent of ₦2.316 trillion is about ₦231.6 billion.

That means the foreign subsidiary investment of ₦446.6 billion may be above the 10 percent threshold by about ₦215.0 billion.

That is likely why CBN is cautious.

So even though Access made profit, CBN may still say:

First resolve the foreign subsidiary exposure issue before paying dividend.

Why The Minimum Dividend Is ₦0.00

The minimum possible dividend is ₦0.00.

This is because if CBN does not approve dividend payment, Access may not be able to pay anything.

Profit does not automatically mean dividend.

For banks and holding companies, regulatory approval can override accounting profit.

So the regulatory floor is zero.

Why The Current Possible Ceiling Is About ₦1.09 Per Share

For dividend purposes, the most important number is not Group profit.

The most important number is the parent company’s retained earnings.

This is because Access Holdings Plc is the listed company that pays dividend to shareholders.

The Group can make large profit, but the dividend must still be supported by distributable reserves at the parent company level.

As at Q1 2026:

Parent company retained earnings were about ₦59.175 billion

Share capital was about ₦27.188 billion

Since each ordinary share has a nominal value of 50 kobo, this implies about 54.376 billion shares in issue.

So the calculation is:

₦59.175 billion divided by 54.376 billion shares

That gives about:

₦1.09 per share

Or:

109 kobo per share

This means that based on Q1 2026 parent retained earnings, the current practical ceiling is about ₦59.2 billion total dividend, or about ₦1.09 per share.

This does not mean Access will pay ₦1.09. It only means that this is the rough current ceiling based on available parent retained earnings.

Why The Higher 2026 Ceiling Could Be About ₦1.63 Per Share

Access Holdings parent company made about ₦9.87 billion profit in Q1 2026.

If that Q1 profit continues at the same pace for the rest of the year, annualised parent company profit would be:

₦9.87 billion multiplied by 4

That gives about:

₦39.48 billion

Access Holdings’ parent retained earnings at the end of 2025 were about ₦49.305 billion.

If you add the estimated full year parent profit of ₦39.48 billion, you get possible full year parent retained earnings of about:

₦88.785 billion

Then divide that by about 54.376 billion shares.

That gives about:

₦1.63 per share

Or:

163 kobo per share

So if Access gets regulatory approval and Q1 parent earnings continue at the same pace, the higher possible ceiling could be about ₦88.8 billion total dividend, or about ₦1.63 per share.

Why Group Profit Does Not Mean They Can Pay More

This is a very important point.

Access Holdings reported very strong Group numbers.

Some of the key figures include:

Gross earnings of about ₦5.53 trillion

Profit before tax of about ₦1.01 trillion

Total assets of about ₦51.56 trillion

Q1 2026 Group profit for the period of about ₦216.537 billion

Q1 2026 profit attributable to equity holders of the parent of about ₦200.526 billion

Group retained earnings of about ₦1.997 trillion

But the parent company retained earnings were only about ₦59.175 billion at Q1 2026.

That is why investors should not simply look at Group profit and assume that Access can pay a very large dividend.

The Group profit sits across the banking group and subsidiaries. Before money can be paid as dividend to Access Holdings shareholders, it must be available and distributable at the parent company level.

Also, banking subsidiaries must meet their own capital requirements before they can upstream cash to the holding company.

So the dividend capacity is much smaller than the headline Group profit suggests.

My Estimated 2026 Dividend Range

If CBN does not approve dividend payment, Access may pay:

₦0.00 per share

Based on Q1 2026 parent retained earnings of ₦59.175 billion, the current possible ceiling is:

About ₦1.09 per share

If Q1 2026 parent profit of ₦9.87 billion continues for the full year and approval is received, the higher possible ceiling is:

About ₦1.63 per share

So my working range is:

₦0.00 to ₦1.63 per share

But the more realistic approved payment, if CBN clears them, may fall somewhere between:

₦1.09 and ₦1.63 per share

depending on how much parent company retained earnings Access has by the time dividend is considered.

Final Take

Access Holdings’ issue is not that the company is unprofitable.

The issue is that CBN needs to be satisfied with two things:

The holding company’s capital position

The foreign subsidiary investment exposure under BOFIA

The first issue appears to have been resolved through the ₦21.42 billion private placement.

The second issue, the foreign subsidiary investment limit, appears to be the bigger outstanding matter.

Until that is resolved, Access may still pay ₦0.00, even with strong profits.

Once CBN approval is received, the likely dividend capacity based on the latest numbers is about ₦1.09 to ₦1.63 per share.

Ahead of the curve as always, I hail o . I really enjoy reading this thread like a week late cause i can be emotional sometimes so these late nights allow me to sleep on some investment decisions. If they sell down to meet 10% it will actually be a postive as it frees up cash to pay dividend earlier.

Sunrisepebble:
It will be a miracle if Access pays an interim dividend this year.

https://www.bloomberg.com/news/articles/2026-05-05/nigeria-s-access-bank-to-sell-down-foreign-units-after-central-bank-order?taid=69fa2a3c16d544000169c559&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter

https://x.com/greentickertale/status/2052531551192129608?s=12

Discussing First Holdco FY 2025 earnings at the moment.

DANGCEM going to London:

https://www.ft.com/content/966d1c99-dd70-42a7-afd5-e3524a7566a1?syn-25a6b1a6=1

Stockhunter:
So wema bank eps in Q1 2026 is more than their entire 2025 eps. Interesting.

Q1 2026 eps is 7.90 while entire 2025 eps is 7.08. this was achieved not recovering from loss o. i think the market is underating this bank. If the earnings hold for the rest of the quarter or even do 5 naira for the remaining 3 quarters, thats over 20 naira eps. Matching that of the fugaz like zenith and stanbic.. if we do PE of 3.5x thats above 100 naira... In less than 2 years wema go touch 100.. i need to beam my touchlight on this stock though not a fan of banks

Is there any blind spot i am missing.

Its trading at 2x its book value and it did eps of N8.03 in Q1 25, so even lower. I think its fairly valued now. Additionally, the disclosed Q1 26 EPS appears to be annualized, not actual three month EPS and restricted deposits of ₦974.02bn are not operationally available, limiting the usefulness of headline cash balances.

I hate coming to this thread and seeing so many posts that are irrelevant to NSEMPA. If i wanted to see petty arguments i will be on instablog. Sometimes just ignore the urge to respond.

Streetinvestor2:
See money. I will like to be like u when I grow up

The post you quoted was playfully hacked.
Emma didn't say 100m, although we know he has the muscle.

TARGET TECHNICAL ANALYSIS COMMENTS

What will the market do today?

With banking sector currently in bearish zone. It will be a miracle for this week not to end in RED!!!

https://open.spotify.com/episode/6jzTxdvc7eXhszPIyxniBX

Premarket for today's trading session on the NGX.

nosa2:
My spreadsheet flagged it as well. Projected ROE is over 147%. I haven't had time to go through the books but the unusually high ROE made me think there is something wrong with the numbers

Look well o.
The bank is doing well no doubt but the eps is annualized and not just for one quarter.

Besides BTC, eth and a few others most crypto tokens are pure gamble na. Na many people dey take am as serious investment.

I sold off many of my crypto assets in 2021. I left only BTC and ETH

Itzlinda:
Big person, eh. Crypto is how I got here though.
I bought at the top in 2021/2022 and held on, waiting for an altseason that never came, even after five years.
Last year I saw Presco Plc trending on social media. I checked the chart and realized I would have been very wealthy if I had invested in Nigerian stocks instead of crypto.
I found this thread through Google and read a few pages. That’s when I understood what investing really is all about. I realized I was just gambling with crypto, not investing.

We are going places

HesInMe:
DANGCEM going to London:

https://www.ft.com/content/966d1c99-dd70-42a7-afd5-e3524a7566a1?syn-25a6b1a6=1

They won't hear world abi na word

Mpeace:
Results don't move FBNH.

https://www.youtube.com/watch?v=WKoAXxlG8pU

Premarket video for the NGX today

HesInMe:
DANGCEM going to London:

https://www.ft.com/content/966d1c99-dd70-42a7-afd5-e3524a7566a1?syn-25a6b1a6=1

Guess he is ready for 25% minimum free float. London no be Lagos.