myjoy08:


Sir, don't worry, everything shall be well at last. These market has a lot of upsides potential before the end of this year if everything planned goes well. As i said, it shall be well

Myjoy08, always lifting people spirit up, God bless your Sir.

donofdons:
It is time to jump in and buy first bank...please do so asap

Why ASAP? Any info or analysis you care to share?

Processor01:


Why ASAP? Any info or analysis you care to share?

what do BNSTL think about "joke of the year" at the present price #11,88

Justcul:


what do BNSTL think about "joke of the year" at the present price #11,88

Sir, if you can play the game right that 'joke of the year' will put a lot of money into your bank account...lol. On a serious note, if you can play the game well with them without fear

The fear of GTBank projected results and interim dividend is the beginning of all upsides movement for the bank . I just want to be funny and kidding.

http://businessdayonline.com/2015/08/naira-weakens-on-parallel-market-as-dollar-demand-rises/#.VcC-9_NVhHw


The naira reversed its gains against the dollar on the parallel market on Tuesday on increased demand for the U.S. currency from some importers, traders said.
The local currency was trading at 224 to the dollar on Tuesday, weaker than 216 the previous day. It was quoted at 240 a week ago.

PETERiCHY:
http://businessdayonline.com/2015/08/naira-weakens-on-parallel-market-as-dollar-demand-rises/#.VcC-9_NVhHw


The naira reversed its gains against the dollar on the parallel market on Tuesday on increased demand for the U.S. currency from some importers, traders said.
The local currency was trading at 224 to the dollar on Tuesday, weaker than 216 the previous day. It was quoted at 240 a week ago.

Chai...always good to use any opportunity while it lasts.

The appreciation we saw for the last few days was more like a knee jerk reaction to the CBNs capital control of closing the travelex window that assists banks convert their FCY cash to wired/electronic form. Due to the insurance risk associated with holding the $$ cash in the banks vaults and the low economic value associated with holding $$ in cash, the banks decided to stop accepting $$ in cash.

Knowing how ingenious and entrepreneurial, Nigerians are, I know that some people have started figuring out how to take this $$ cash over the boarders to convert into electronic forms for onward wiring to various accounts. Once this is successfully achieved, Nigerian banks might not need the CBNs help with travelex and ala business continues for them. Curious to see what else the CBN has up its sleeves.

Interesting times ahead!!!

http://thenationonlineng.net/chadians-ghanaians-others-storm-nigeria-for-dollars/


Currency speculators from Chad, Ghana, Benin Republic and other neighbouring countries yesterday trooped to Nigeria in a scramble for cheaper dollars.

The speculators, The Nation learnt, took advantage of the early morning drop in dollar rates — at N202 to the dollar in Abuja and N210 in Lagos — to make brisk purchases.

But the greenback recovered late afternoon to close at N208 and N222 in Abuja and Lagos.

Banks have been rejecting dollar deposits across the counter, but inflows from foreign accounts are allowed. They lenders said they are unable to transfer excess liquidity to their correspondent banks overseas which are restricting importers from using domiciliary accounts.

FranklinRich:



Chai...always good to use any opportunity while it lasts.

The appreciation we saw for the last few days was more like a knee jerk reaction to the CBNs capital control of closing the travelex window that assists banks convert their FCY cash to wired/electronic form. Due to the insurance risk associated with holding the $$ cash in the banks vaults and the low economic value associated with holding $$ in cash, the banks decided to stop accepting $$ in cash.

Knowing how ingenious and entrepreneurial, Nigerians are, I know that some people have started figuring out how to take this $$ cash over the boarders to convert into electronic forms for onward wiring to various accounts. Once this is successfully achieved, Nigerian banks might not need the CBNs help with travelex and ala business continues for them. Curious to see what else the CBN has up its sleeves.

Interesting times ahead!!!

From your analysis I can see you are quite conversant with the game and if care is not taken when this CBN unconventional measures will boomerang USD will hit the rooftop

www.proshareng.com/news/Corporate%20Earnings/OANDO-Energy-resources-announces-Q2-2015-Results-Proshare/28133

PETERiCHY:


I said it from onset OANDO is strictly for long term idle fund and that we should should expect their 2014 F/Y and 2015 H/Y results in August.

Bear in July 31st will make it exactly 1yr their sealed the COP deal and whatever they are cooking will be ready by August 2015.

[www.proshareng.com/news/Corporate%20Earnings/OANDO-Energy-resources-announces-Q2-2015-Results-Proshare/28133]. Have a look at it! http://www.proshareng.com/news/Corporate%20Earnings/OANDO-Energy-resources-announces-Q2-2015-Results-Proshare/28133

PETERiCHY:



[www.proshareng.com/news/Corporate%20Earnings/OANDO-Energy-resources-announces-Q2-2015-Results-Proshare/28133]. Have a look at it! http://www.proshareng.com/news/Corporate%20Earnings/OANDO-Energy-resources-announces-Q2-2015-Results-Proshare/28133

Bros,This is not the main oando. Look out for Oando Plc or Oando Group. This result is for just one of six subsidiaries of Oando.

PETERiCHY:



From your analysis I can see you are quite conversant with the game and if care is not taken when this CBN unconventional measures will boomerang USD will hit the rooftop

I sincerely hope the CBN proves me wrong.

Anyone willing to exchange/ swap some Euro for some naira here?

Because say you dey do dollar business no mean say you go come dey wish your country bad o... it's UNPATRIOTIC

Is this another bull trap?

presiade:
Anyone willing to exchange/ swap some Euro for some naira here?

What is the exchange rate of the Euro to Naira?

FranklinRich:



Chai...always good to use any opportunity while it lasts.

The appreciation we saw for the last few days was more like a knee jerk reaction to the CBNs capital control of closing the travelex window that assists banks convert their FCY cash to wired/electronic form. Due to the insurance risk associated with holding the $$ cash in the banks vaults and the low economic value associated with holding $$ in cash, the banks decided to stop accepting $$ in cash.

Knowing how ingenious and entrepreneurial, Nigerians are, I know that some people have started figuring out how to take this $$ cash over the boarders to convert into electronic forms for onward wiring to various accounts. Once this is successfully achieved, Nigerian banks might not need the CBNs help with travelex and ala business continues for them. Curious to see what else the CBN has up its sleeves.

Interesting times ahead!!!

One thing is sure.. The CBN is trying to beat the Saboteurs/Forex round-trippers in their game. CBN already knew of people from neighbouring countries coming to buy dollars. This was in a report over a week ago.. And if you follow the steps taken.. one of the first clue was the report on CBN and custom partnering to block undeclared Money at the Airport...

Due to the Bank not accepting Dollar, a lot of people took it to the black market, causing the appreciation of the naira. Now, people are not withdrawing the money already in the bank for fear they wouldn't be able to put it back.. so the cash is drying in the blackmarket.

I think the next move by CBN will take will likely be to start a high fee on the dorm, that might force people change the Dollars in their dorm to naira..

I believe by the time the whole jigsaw come in place, a lot of people will burn their finger on this Dollar issue..

Wey dey watch!!!

OANDO

donofdons:
It is time to jump in and buy first bank...please do so asap

Did you bought the FBNH?

@ritmove, do you really think charging high fees on the dorm by the CBN is good move?

Honestly, the CBN has been too tardy and reactionary with this dollar issue. What is the essence of a dorm account if you cant withdraw or deposit money? If the CBN is averse to people saving money in foreign currency , they should be clear about it and communicate same to the banks and investing public ,rather than recourse to short term administrative controls that temporarily douses speculative pressures but creates unintended consequences in the long run.

Now that BDCs are moving hard currency across the border to Nigerian banks in Ghana and transferring the cash for their Nigerian customers offshore, tell me, who is the loser ?

Kagame:
@ritmove, do you really think charging high fees on the dorm by the CBN is good move?

Honestly, the CBN has been too tardy and reactionary with this dollar issue. What is the essence of a dorm account if you cant withdraw or deposit money? If the CBN is averse to people saving money in foreign currency , they should be clear about it and communicate same to the banks and investing public ,rather than recourse to short term administrative controls that temporarily douses speculative pressures but creates unintended consequences in the long run.

Now that BDCs are moving hard currency across the border to Nigerian banks in Ghana and transferring the cash for their Nigerian customers offshore, tell me, who is the loser ?

Really can't say if the high fee is right thing to do or even if CBN will do it.. Just preempting CBN from present trend.

As par BDC going to Ghana .. it make no difference to CBN.. CBN is no longer defending the dollar going to Ghana or in the Black market.. The challenge CBN has now is to make it possible for those Importers on the exclusion list to source dollar from the blackmarket.

Don't forget, that now, CBN is no longer giving BDC cash.. but $1000 dominated card for their forex demand.

What we see in the blackmarket (sorry some say it is parallel market) is people speculating the swing of the pendulum and wondering if best to hold dollar or Naira.. that is why i said some people will burn their finger. Some smart one will make money.. but expect that a lot will burn their finger...

Things are so bad on the NSE with the Bear ravaging everywhere... That nobody is even commenting that Unity back is @Mile 2.. almost getting to moto park...

And the Bank is putting out list of Debtors.. Is there any Infraction on the bank and Her Managers for such unsecure Loans.. ?

How can this be allowed to happen without anybody in jail.. Nigeria is really a jungle!!!!

I've also been thinking of investing in 1st bank. Is this a good time?
Do i go ahead. Pls advice

PETERiCHY:


Point of correction, I'm not here to please anybody, in other words when I make a comment it's either you take it or leave it.

The funny person that said he stop reading my post 6mths ago. If I may ask does that add anything to my acct ?

Well all i can see here is the adverse effect of a BEAR market and i pray may GOD in his infinite mercies mend and heal those that NSE has broken their HEART

*ThE OcToPuS*

Octopus, can u pls SHUT UP for the next 3 market days. Start talking from Saturday, 08 August, 2015.

ibe9ja:


Octopus, can u pls SHUT UP for the next 3 market days. Start talking from Saturday, 08 August, 2015.

Common this is totally uncalled for. We all have the freedom to speak our minds. You dnt have to accept what everyone says. If you dnt like any posts, you can just simply ignore it. I disagree with Oga Peterichy sometimes but telling him to shut up is taking this things way too personal.

FranklinRich:


Common this is totally uncalled for. We all have the freedom to speak our minds. You dnt have to accept what everyone says. If you dnt like any posts, you can just simply ignore it. I disagree with Oga Peterichy sometimes but telling him to shut up is taking this things way too personal.

Why bother yourself replying him. I thought they say silence is the best answer to a fool or can't you see frustration written all over his post

lol