₦airaland Forum

GeeKudi:
He was school fellowship prefect 😁

GeeKudi:
Beware of eutrophication

GeeKudi:
Drilling for the crude they couldn't get from the Delta creeks.

megawealth01:
https://businessday.ng/insurance/article/insurance-recapitalisation-deadline-ends-today-as-sector-awaits-naicom-verdict/

LASACO on my mind and in my prayers

SonofElElyonRet:

yMcy56:
Even touched 35....
I insist there's a game plan already ongoing.....
These guys can be unbelievable and the more we look, the less we see.....
Maybe there's the need to start mopping free floats....OR.....some proxies/institutions are codedly buying without raising suspicion.

If any of the Oga needs it @30, they'll find a way to move it down to the price and accumulate, thereafter, they'll come up with one or more positive news to move it.

toyeoye:
⚠️ OANDO slips to a fresh 52-week low... ₦35.50 (-3.01%)

yMcy56:
Even touched 35....
I insist there's a game plan already ongoing.....
These guys can be unbelievable and the more we look, the less we see.....
Maybe there's the need to start mopping free floats....OR.....some proxies/institutions are codedly buying without raising suspicion.

If any of the Oga needs it @30, they'll find a way to move it down to the price and accumulate, thereafter, they'll come up with one or more positive news to move it.

GeeKudi:
I must hope in your hypothesis. They should just put some speed into whatever it is they are doing.

GeeKudi:
He wanted to delist, y'all said no. Now, frustration will make everyone willingly surrender their holdings.

mikeapollo:
What has been happening in NGX recently is teaching me that patience and long term focus is key when investing in some key critical sectors:
FBN has grown from N4 to N130+
WAPCO from N10 to N360+
Ikeja Hotels from 0.70k to N45+
RT Briscoe from .60K to N12+
May & Baker from N4 to N40+
Wema from 0.5 to N28+ etc
BCC (later Dangote) Cement fromN4 to N1K+

The lesson: buy into a company you know and understand the prospects, especially those in critical, strategic sectors with very few competitors and high barriers to entry e.g. cement, brewery, telecoms, oil and gas.
Long term focus in this sectors usually pay investors

mikeapollo:
What has been happening in NGX recently is teaching me that patience and long term focus is key when investing in some key critical sectors:
FBN has grown from N4 to N130+
WAPCO from N10 to N360+
Ikeja Hotels from 0.70k to N45+
RT Briscoe from .60K to N12+
May & Baker from N4 to N40+
Wema from 0.5 to N28+ etc
BCC (later Dangote) Cement fromN4 to N1K+

The lesson: buy into a company you know and understand the prospects, especially those in critical, strategic sectors with very few competitors and high barriers to entry e.g. cement, brewery, telecoms, oil and gas.
Long term focus in this sectors usually pay investors

Valthegreat:
I think you are right, the rate at which they are packing the dip is alarming. I am selling mine at 20% loss and they buying more as it is dipping further.
If Oando is getting worse when crude prices are getting better what will happen when crude goes back to $50-#60 range.
Honestly, Nigeria is in the hand of a wrong family as president. Fruits don't fall far from their trees.

Valthegreat:
What if you buy into Oando thinking it is an oil exploration company?
Not knowing it is a type that her financials goes south when crude prices are going north?

Raider76:
It is even doing well. Many were afraid it will go on full offer.

Zagee:
I had to open my dictionary for that.
The weather-man reports news of a possible transplantation depending on the nature of the incoming stampede.

Codevalley:
is it too late to enter these stocks then considering their current prices?

mikeapollo:
I don't think its fair to bring the president into this.
Everyone knows I am not a fan of the performance of the president in office. But let's be fair and objective even when we disagree.
You can criticize and condemn Oando's management, including Wale, but I think the issue with Oando predates the president.
Some investors would tell you they have been having issues with the company since 2014, when the president was nowhere near Oando.

This is just an honest, unbiased opinion of a staunch, unrepentant, yet objective critic of the performance of the president in office.

mikeapollo:
I don't think its fair to bring the president into this.
Everyone knows I am not a fan of the performance of the president in office. But let's be fair and objective even when we disagree.
You can criticize and condemn Oando's management, including Wale, but I think the issue with Oando predates the president.
Some investors would tell you they have been having issues with the company since 2014, when the president was nowhere near Oando.

This is just an honest, unbiased opinion of a staunch, unrepentant, yet objective critic of the performance of the president in office.

chimex38:
3 musketeers.
Carveton dey bench for substitution

Valthegreat:
You didn't understand my statement, what I mean is that everything about people from that family doesn't go straight forward, always shady.
Are you saying that Oando has another problem that is bigger than Wale being the chairman of the company? Can't you notice a deliberate pattern to ensure that shareholders are short-changed?

essentialone:
*NAICOM Recapitalisation: It’s done ✅*

Deadline was *July 31, 2026* and NAICOM just published the list. This is huge for the insurance sector.

*The Numbers*
- *43 Companies Confirmed*: 41 Insurance + 2 Reinsurance firms
- *8 More Pending*: Submitted evidence just before deadline. Final verification in 14 days
- *12-month window*: Started Aug 2025 after NIIRA 2025 was signed by President Tinubu.

NAICOM says this "enhanced financial resilience, attracted investment, and rekindled investor confidence."

*FULL LIST: 43 Compliant Companies*

*Composite Insurers* - Do Life + Non-Life
1. AIICO Insurance Plc
2. AXA Mansard Insurance Plc
3. Cornerstone Insurance Plc
4. Fortis Global Insurance Plc
5. Great Nigeria Insurance Plc
6. LASACO Assurance Plc
7. Leadway Assurance Company Limited

*Life Insurance*
1. Capital Express Life Assurance Limited
2. CHI Life Assurance Limited
3. Coronation Life Assurance Limited
4. Custodian Life Assurance Limited
5. Enterprise Life Assurance Company (Nigeria) Ltd
6. Heirs Life Assurance Limited
7. Mutual Benefits Life Assurance Ltd
8. Prudential Zenith Life Insurance Ltd
9. Sanlam-Allianz Life Insurance Nigeria Limited
10. Stanbic IBTC Insurance Limited

*Non-Life/General Insurance*
1. Anchor Insurance Company Ltd
2. Capital Express Indemnity Insurance Limited
3. Consolidated Hallmark Insurance Limited
4. Custodian and Allied Insurance Limited
5. Fin Insurance Company Limited
6. Heirs General Insurance Limited
7. International Energy Insurance Plc
8. KBL Insurance Ltd
9. Linkage Assurance Plc
10. Mutual Benefits Assurance Plc
11. NEM Insurance Plc
12. NPF Insurance Company Ltd
13. NSIA Insurance Limited
14. Prestige Assurance Plc
15. Rex Insurance Limited (Royal Exchange Assurance Plc)
16. Sanlam-Allianz General Insurance Nigeria Ltd
17. Sterling Assurance Nigeria Limited
18. Sunu Assurances Nigeria Plc
19. Tangerine General Insurance Ltd
20. Unitrust Insurance Co. Limited
21. Veritas Kapital Assurance Plc
22. Zenith General Insurance Company Limited

*Reinsurance*
1. Continental Reinsurance Plc
2. FBS Reinsurance Limited

*Sector Consolidation*: 8 firms still under review. Expect M&A. The stronger 43 will likely gain market share.

This recapitalisation was meant to make Nigerian insurers able to compete with SA, Kenya, and take bigger infrastructure/energy risks.

This is the biggest reset for insurance since 2007.

GeeKudi:
I must hope in your hypothesis. They should just put some speed into whatever it is they are doing.

essentialone:
*NAICOM Recapitalisation: It’s done ✅*

Deadline was *July 31, 2026* and NAICOM just published the list. This is huge for the insurance sector.

*The Numbers*
- *43 Companies Confirmed*: 41 Insurance + 2 Reinsurance firms
- *8 More Pending*: Submitted evidence just before deadline. Final verification in 14 days
- *12-month window*: Started Aug 2025 after NIIRA 2025 was signed by President Tinubu.

NAICOM says this "enhanced financial resilience, attracted investment, and rekindled investor confidence."

*FULL LIST: 43 Compliant Companies*

*Composite Insurers* - Do Life + Non-Life
1. AIICO Insurance Plc
2. AXA Mansard Insurance Plc
3. Cornerstone Insurance Plc
4. Fortis Global Insurance Plc
5. Great Nigeria Insurance Plc
6. LASACO Assurance Plc
7. Leadway Assurance Company Limited

*Life Insurance*
1. Capital Express Life Assurance Limited
2. CHI Life Assurance Limited
3. Coronation Life Assurance Limited
4. Custodian Life Assurance Limited
5. Enterprise Life Assurance Company (Nigeria) Ltd
6. Heirs Life Assurance Limited
7. Mutual Benefits Life Assurance Ltd
8. Prudential Zenith Life Insurance Ltd
9. Sanlam-Allianz Life Insurance Nigeria Limited
10. Stanbic IBTC Insurance Limited

*Non-Life/General Insurance*
1. Anchor Insurance Company Ltd
2. Capital Express Indemnity Insurance Limited
3. Consolidated Hallmark Insurance Limited
4. Custodian and Allied Insurance Limited
5. Fin Insurance Company Limited
6. Heirs General Insurance Limited
7. International Energy Insurance Plc
8. KBL Insurance Ltd
9. Linkage Assurance Plc
10. Mutual Benefits Assurance Plc
11. NEM Insurance Plc
12. NPF Insurance Company Ltd
13. NSIA Insurance Limited
14. Prestige Assurance Plc
15. Rex Insurance Limited (Royal Exchange Assurance Plc)
16. Sanlam-Allianz General Insurance Nigeria Ltd
17. Sterling Assurance Nigeria Limited
18. Sunu Assurances Nigeria Plc
19. Tangerine General Insurance Ltd
20. Unitrust Insurance Co. Limited
21. Veritas Kapital Assurance Plc
22. Zenith General Insurance Company Limited

*Reinsurance*
1. Continental Reinsurance Plc
2. FBS Reinsurance Limited

*Sector Consolidation*: 8 firms still under review. Expect M&A. The stronger 43 will likely gain market share.

This recapitalisation was meant to make Nigerian insurers able to compete with SA, Kenya, and take bigger infrastructure/energy risks.

This is the biggest reset for insurance since 2007.

mikeapollo:
I you say ''family'', you are invariably bringing in the president, which is not fair.
In fact, one person may decide to do something good to change such negative perception; and that person may be Wale.
Because he was CEO when Oando was paying N3-N4 dividends and bonus as a downstream company. They started struggling since they became upstream, and that should tell us that they lacked the requisite competence, knowledge and experience when they ventured into upstream business and I think some mistakes they made are affecting the company to date e.g. ConoccoPhillips