₦airaland Forum

ukay2:
Share buy bag by a good company always skyrocket their share price....UBA is a goldmine....The result will lokely be the best among the banks....


See as men in black de mopp the stock at N9.90k today... an not selling until i see the Q2 results and interim dividend this month


DD applied

Sometimes the way some ppl talk sef
What was UBA's volume & value today?

https://trwstockbrokers./2017/08/01/exclusive-how-ayeni-wrecked-skye-bank-management-writes-osinbajo/
In the letter signed by Abiru and Ahmad, the bank gave details of how Ayeni allegedly used loans from the bank to acquire major government companies.

“Upon the assumption of duty by the new board, one of the immediate concerns that needed to be addressed was to ascertain the true state of the affairs and financial position of the bank and the credibility of the IT and information systems of the bank,” the letter read.

“To this end, the following were undertaken: engagement of PWC do to half-year audit as of June 30, 2016. This was later extended to cover the full year to December 31, 2016.


INDUSTRY INDEBTEDNESS

“The bank’s total exposure to Ayeni as of the date is about N70bn. It is clear that he used his position as the chairman of the bank to obtain inside loans well above the regulatory thresholds for the acquisition of the following government enterprises: Ibadan Electricity Distribution Company, Yola Ibadan Electricity Distribution Company and Nitel/Mtel. All the facilities are presently seriously challenged.

“As of today, Ayeni’s total industry indebtedness, covering both Nitel and the Electricity Distribution Companies (Discos) is estimated at about N150bn, and little, if any, of these obligations, are being doubtful that he will ever be in a position to service these loans satisfactorily.”

The letter also said another N33 billion was traced to Ayeni, saying there was suspicion that that out of this amount, N7 billion was spent on the re-election campaign of former President Goodluck Jonathan.

“The sum of N7bn was disbursed without due process to various individuals and corporate organisations on the request of Godknows Igali, a former permanent secretary of the federal ministry of power,” it read.

“The monies appear to have been expended essentially on the Jonathan-Sambo electoral campaign in 2015. That sum remains outstanding as at today.

“There is ample evidence that he (Ayeni), among others, received large amounts of cash, totalling N29.5bn, from the bank, which appears to be connected to the purchase of Mainstreet Bank Limited, but which has not been accounted for.

“He was instrumental in the approval and disbursement of the liquidity management which went on throughout his tenure.”

‘SEIZE ASSETS’

The management recommended that the government assist it to seize Ayeni’s assets.

“The former chairman should be brought to account for his central role in many of the identified infractions,” it read.

“We have been able to perfect the debenture on the fixed and floating assets of Natcom, the vehicle that was used for the acquisition of Nitel and Mtel with asset estimated at N282bn (Open market value) and N183bn (forced sale value) by Knight Frank in 2014.

“This will put us in a position to place the company into receivership for recovery. However, in order to come to fruition, this approach will require strong and unyielding support from the regulatory and political authorities in the country.”

The management also indicted Akinsola Akinfewa, Kehinde Durosinmi-Etti and Oguntayo, all former GMDs of the bank.

Other individuals listed in the petition for various acts of infraction are Femi Otedola, chairman Forte Oil Plc, Festus Fadeyi and Jide Omokore.

jamace:
The way CILEASING is swallowing volumes at N0.96 since morning, I hope the MM are not trying to abandon ship.

Just thinking aloud sha. I no know book o.

Have you not heard that it is heading to #2.
Another maybaker.

vivie01:
Just wondering what could be this Conoil's offence. Despite good results its still not following others to ride the bull. Well, every stock has its own time.

It has

ukay2:
Men in black....maybe Dangote us using the N8 billion he sold the Dangote Cement shares to Foreign Investors to mopp up Dangote sugar.....

DD apllied

Not N8 billion but N86 billion, the dividend he received from Dangote cement last financial year was over N118 billion.

vivie01:
Just wondering what could be this Conoil's offence. Despite good results its still not following others to ride the bull. Well, every stock has its own time.

People are still waiting for their court case verdit

emmanuelewumi:
Not N8 billion but N86 billion, the dividend he received from Dangote cement last financial year was over N118 billion.

Wao....uncle emma....please we are waiting for you to be like Oga Aliko.....role model

valacious:
deep pockets just licked up dangote sugar!

I exited @14
Cool 10%

ukay2:
Dangote Sugar..............weldone.....KM20 soonest


Good entry point d sweet

Kudos to Morgan capital .......Nothing sweet like real time trading .....unlike Investment-One

I exited @14. Therefore, it has to move back to 12 before km20.

I beg who wants to sell his Guinness right, I am highly interested.

leo1234:
I exited @14. Therefore, it has to move back to 12 before km20.

Ok....all the best...

emmanuelewumi:
I beg who wants to sell his Guinness right, I am highly interested.

I have...how much?

emmanuelewumi:
I beg who wants to sell his Guinness right, I am highly interested.

Please me too I need am o...I don queue tire...

Actually my broker is having it very tough in getting DF. Any cross will be appreciated.

This is no joke remember I requested for further analysis on this stock.

Where is that guy promoting fidelity yesterday like an insider
E be like say I don enter chance.

ukay2:
I have...how much?

N5 premium on each right.

ukay2:
I have...how much?

Are you serious? If yes, I will buy it at N75.

Coolcash1:
Please me too I need am o...I don queue tire...

Can you see what I am seeing.

leo1234:
Where is that guy promoting fidelity yesterday like an insider
E be like say I don enter chance.

hehehehe... What of your Unity bank? Hope you have left the bus.

leo1234:
Where is that guy promoting fidelity yesterday like an insider
E be like say I don enter chance.

U never see fidelity result...but i hope the guy put DD applied....

DeRuggedProf:
It has

Meaning?

emmanuelewumi:
N5 premium on each right.

Please na only 5,000 units my right issue be ooo... i go buy am back to "dilute"my tasere units i get...

...imagine Diego PLC saying it will buy the right issue remaining for any investor that did not buy his right issue......

emmanuelewumi:
N5 premium on each right.

Abeg na only 5,000 units my right issue be ooo... i go buy am back to "dilute"my tasere units i get...

ukay2:
People are still waiting for their court case verdit

Ok. Thanks. It should at least enjoy small bull ride now haha.

Oando would have defied all this court trash if it were to be the one.

Pls any info on the case progress?

vivie01:
Ok. Thanks. It should at least enjoy small bull ride now haha.

Oando would have defied all this court trash if it were to be the one.

Pls any info on the case progress?

No info my sister..... but the share go rise in due time....na dangote come scatter the bull in conoil share

ukay2:
No info my sister..... but the share go rise in due time....na dangote come scatter the bull in conoil share

Thanks. Fingers crossed.

FCMB news for shareholders


http://www.easykobo.com/News.aspx?id=19773


read in-between the lines

hmm.... stock market...very unpredictable indeed. At times it even defies fundamentals and technicals.
For instance, a stock like dangote sugar has never paid interim dividend in over 10 years of listing as a public liability company. Now working with numbers and analyses, who would have ever imagined that this same company will pay interim dividend.

That is why anything is possible in the stock market

Mpeace:
So I sell part of my DANGFLOUR in the morning, and now the thing decides to move. No problem. Make them just dey do.

hmmm,, d definition of don't know ^"gold" you have bought

best for the holder of this stock is to buy more if it falls except the fundamental of this stock change 2morrow....don't give away ur gold because is not moving fast today.

DF one of the best in the market today some look elsewhere because of it "Retained loss"

lancee:
https://trwstockbrokers./2017/08/01/exclusive-how-ayeni-wrecked-skye-bank-management-writes-osinbajo/
In the letter signed by Abiru and Ahmad, the bank gave details of how Ayeni allegedly used loans from the bank to acquire major government companies.

“Upon the assumption of duty by the new board, one of the immediate concerns that needed to be addressed was to ascertain the true state of the affairs and financial position of the bank and the credibility of the IT and information systems of the bank,” the letter read.

“To this end, the following were undertaken: engagement of PWC do to half-year audit as of June 30, 2016. This was later extended to cover the full year to December 31, 2016.


INDUSTRY INDEBTEDNESS

“The bank’s total exposure to Ayeni as of the date is about N70bn. It is clear that he used his position as the chairman of the bank to obtain inside loans well above the regulatory thresholds for the acquisition of the following government enterprises: Ibadan Electricity Distribution Company, Yola Ibadan Electricity Distribution Company and Nitel/Mtel. All the facilities are presently seriously challenged.

“As of today, Ayeni’s total industry indebtedness, covering both Nitel and the Electricity Distribution Companies (Discos) is estimated at about N150bn, and little, if any, of these obligations, are being doubtful that he will ever be in a position to service these loans satisfactorily.”

The letter also said another N33 billion was traced to Ayeni, saying there was suspicion that that out of this amount, N7 billion was spent on the re-election campaign of former President Goodluck Jonathan.

“The sum of N7bn was disbursed without due process to various individuals and corporate organisations on the request of Godknows Igali, a former permanent secretary of the federal ministry of power,” it read.

“The monies appear to have been expended essentially on the Jonathan-Sambo electoral campaign in 2015. That sum remains outstanding as at today.

“There is ample evidence that he (Ayeni), among others, received large amounts of cash, totalling N29.5bn, from the bank, which appears to be connected to the purchase of Mainstreet Bank Limited, but which has not been accounted for.

“He was instrumental in the approval and disbursement of the liquidity management which went on throughout his tenure.”

‘SEIZE ASSETS’

The management recommended that the government assist it to seize Ayeni’s assets.

“The former chairman should be brought to account for his central role in many of the identified infractions,” it read.

“We have been able to perfect the debenture on the fixed and floating assets of Natcom, the vehicle that was used for the acquisition of Nitel and Mtel with asset estimated at N282bn (Open market value) and N183bn (forced sale value) by Knight Frank in 2014.

“This will put us in a position to place the company into receivership for recovery. However, in order to come to fruition, this approach will require strong and unyielding support from the regulatory and political authorities in the country.”

The management also indicted Akinsola Akinfewa, Kehinde Durosinmi-Etti and Oguntayo, all former GMDs of the bank.

Other individuals listed in the petition for various acts of infraction are Femi Otedola, chairman Forte Oil Plc, Festus Fadeyi and Jide Omokore.

PMB is a share holder, you will surely have the government support on the above bold.

ukay2:
Please na only 5,000 units my right issue be ooo... i go buy am back to "dilute"my tasere units i get...

...imagine Diego PLC saying it will buy the right issue remaining for any investor that did not buy his right issue......

Any news on guinness whatsup with d rush on d right issue even with loss ? Will dis same faith go with FO on there right issue too?

leo1234:
I exited @14
Cool 10%

You are smiling at 10% when some are up 40% and still sitting tight...now I believe what we buy and sell disguised as stocks is indeed patience!