₦airaland Forum

GeeKudi:
Madam don go jump scatter plan.

deathwing:
Where is the perception in Yahaya Bello, Former Account General and opaque multi-trillion coastal road contracts with no bidding process? You don’t know it’s corruption when the First Lady donated public money in the hundreds of millions without appropriation and without an official government title? You think it’s perception when every senior government official takes a flight to go and greet the president before he lands in a country? You don’t know it’s corruption because you don’t know where the money is coming from? You think it’s perception when NNPC spent more billions than Dangote on refineries that didn’t produce two liters of petrol without anybody doing life in prison or getting executed on the beach? You think it’s just a perception of corruption when your President flies abroad for medicals without ever officially telling you that he is sick? Whose money are they using to pay landing charges and hospital bills? Please don’t make me laugh

deathwing:
Where is the perception in Yahaya Bello, Former Account General and opaque multi-trillion coastal road contracts with no bidding process? You don’t know it’s corruption when the First Lady donated public money in the hundreds of millions without appropriation and without an official government title? You think it’s perception when every senior government official takes a flight to go and greet the president before he lands in a country? You don’t know it’s corruption because you don’t know where the money is coming from? You think it’s perception when NNPC spent more billions than Dangote on refineries that didn’t produce two liters of petrol without anybody doing life in prison or getting executed on the beach? You think it’s just a perception of corruption when your President flies abroad for medicals without ever officially telling you that he is sick? Whose money are they using to pay landing charges and hospital bills? Please don’t make me laugh

feelamong:
Once dangote IPO starts and NGX liwuidity is sucked by the IPO..many will hold illiquid shares for many months after

GeneralDae:
I agree they should reduce Govt overhead but give me the figure of all of it and let’s see what they are. The deficit is over 20 trillion for 2026. Recurrent expenditures are in trillions.
Reducing the Government overhead would be good especially for the optics and would solve the problem in a little way but would it really solve the problem in a major way? Would that be enough to reduce the budget deficit and help the naira (especially in 2023 and 2024)? I doubt it.

While it is true we have a management and corruption problem, a bigger problem is that we are unproductive and we are too poor.

ghm:
What do you mean? Could you please explain?

feelamong:
Once dangote IPO starts and NGX liwuidity is sucked by the IPO..many will hold illiquid shares for many months after

emmanuelewumi:
PENCOM just gave approval to Pension Fund Managers, that they can invest in the IPO of Dangote Refinery.

Pension Fund Managers should be able to raise N1 Trillion for the offer

crownprince2017:
You give person work he come sick for work,no be una go take care of am..

If player get injured for club no be club they treat them ..

mikeapollo:
If you are unproductive and too poor as a nation, the most important, critical priority is to ensure prudence in public spending, even if you have plans to increase revenue.
No amount of revenue would make the desired difference where there are huge and ever-increasing leakages and corruption.
You block the leakages FIRST.
Do you continue to pour more water into a bucket with a huge leaking hole, or you fix the leakage FIRST and go and fetch more water?

emmanuelewumi:
PENCOM just gave approval to Pension Fund Managers, that they can invest in the IPO of Dangote Refinery.

Pension Fund Managers should be able to raise N1 Trillion for the offer

emmanuelewumi:
PENCOM just gave approval to Pension Fund Managers, that they can invest in the IPO of Dangote Refinery.

Pension Fund Managers should be able to raise N1 Trillion for the offer

mikeapollo:
These are the people that would cause oversubscription and deny ordinary investors the opportunity to be allotted in full.

GeeKudi:
I think I read somewhere that they can inrease the number of shares on offer in response to over subscription.

When is the IPO coming out?

GeneralDae:
Analysis by @ Rufyb on Pencom

“ According to Pencom rules, before a PFA can invest pension assets in any company's shares, that company must meet minimum thresholds on three fronts:

✑ it must have existed for a certain number of years (typically 5 years for listed equities under PenCom rules)

✑ it must have a track record of profitability, and

✑ it must have a history of paying dividends.

This makes sense as a contributor protection framework, as you don't want pension money going into speculative or unproven businesses.

And these conditions have constrained the allocation of Pencom to some companies (and the equities market in general).

The problem is that Dangote Petroleum Refinery & Petrochemicals FZE is technically a new listing. Despite being backed by Dangote Industries and being one of the largest industrial assets in Africa, it doesn't yet have the requisite years of existence as a listed entity, nor a dividend payment history, which would ordinarily disqualify it under those rules.

So PenCom essentially carved out a special exception, acknowledging the strategic and economic significance of the asset while setting aside the standard eligibility criteria.

It is pragmatic. Na we dey always say make regulations relax so we go fit see prosperity. Therefore, mi o binu si raaraa. Kudos to Pencom.

Howeverrrrrrrrrrr.... 🌚🌚🫠🫠🫠🫠🫠🫠🫠

It took Ekun Oko Oke, Ikoko Aliko 1 to be on the other side before Pencom remembered "strategic importance, strong fundamentals, and wide-ranging economic benefits, and the growth potential" (as though it's not the case for some other companies).

Na all these selective application of rules me no too fancy (they even stated it in the circular that it is one-off). But it's the Dangote Refinery, we allow.🙂🙂🙂🙂“

deathwing:
Them say June-July

megawealth01:
Insurance sector rally loading

GeneralDae:
Is there any Government since the 1970’s (after Murtala Muhammad) that has blocked leakages and corruption like this Government? Show me one and I would concede.

Bizibi:
none,the leakages and cottuption is still there in this government.

ojeysky:
You left royalex Sir loco

GeneralDae:
Of course they are still there and I agree. But this Government tackled and is still tackling the biggest ones:

Leakage from FX rate duality
Leakage from fuel subsidy
Leakage from NNPC fees retention (now to be remitted to FAAC)
MDA leakages
Leakages from outdated (colonial era) tax systems

emmanuelewumi:
How many insurance stock do we have in NGX Pension index?

Very few.

Maybe 2

Bizibi:
I can beat my chest and tell you it is still there,it only evolved and this is not what you see in the news or social media.

Mda is the worst of them on that list.if you want to stop leakages in our system remove the senate but that is impossible.

It will take years to get it done at 50%.

megawealth01:
More will be added as they perform well

GeneralDae:
At least you know where a part of the problem is as well. The senate is a problem. The huge cost of collection going to FIRS and some agencies during FAAC sharing is also a problem that must be looked into.

emmanuelewumi:
PENCOM just gave approval to Pension Fund Managers, that they can invest in the IPO of Dangote Refinery.

Pension Fund Managers should be able to raise N1 Trillion for the offer

GeeKudi:
All this will only lead to an over valuation. We may be paying N10k for one unit at the rate the thing is being hyped.

emmanuelewumi:
They can't perform well