dipoolowoo:
NSE Suspends Trading of Skye Bank Shares
https://www.businesspost.ng/2018/09/22/nse-suspends-trading-of-skye-bank-shares/

So surprised that no one knew about this Friday CBN action, even the Market maker. Otherwise the stock price wouldn't have appreciated

phemmie06:
Happy belated birthday

thanks,my bd is still far though.

Who are those that liquidated Skye Bank?

I know of one Ayeni who borrowed from it without paying..Who else? Is it not time to shame people in the press? Why are we so docile like this? Shareholders...hmmm we are just interested in dividends and price appreciation.... Why is it difficult for most businesses to grow pass first generation? Look at Chase Manhattan,City Bank,JP Morgan,Societe General....etc? So many questions

Coolcash1:


Skye might be fully nationalized soon as recovery and repositioning efforts by the CBN appointed management have failed in turning the bank around...Most of their debtors seem to be stronger and influential than the management...


DD duly advised.

You were all warned!

On Sept 7, 2018, a member of this group posted a link, https://zerodha.com/varsity/, on this platform.

My advice to the NSEMPA family is to take time to go through the link, especially new investors here, to have a better understanding of the stock market and the red flags to watch out for. Even gurus can check it out, you might learn something new.

It is really unfortunate that minority shareholders at the stock market are used like pawns in the game of chess. Can the NSE and CBN claim they never knew Skye Bank was sick? Even till last year, CBN claimed all banks operating in the country were sound and healthy, but those who know, know.

I used to be an advocate of long term investment in the stock market, but that is really changing fast. It is well.

swilo:


Really these questions hit the core of the rot existing in the whole CBN-SKYE romance. The most annoying one is why did they insinuate that they were working to release outstanding financial results? From this whole saga, shareholders are at risk from all angles:

-Risk from management of coy
-Risk from fellow shareholders
-Risk from MM
-Risk from government
-Risk from regulatory bodies.

Now the big question is why would I want to leave my money indefinitely in a stock with all these crocodiles?

Anyone that bought Skye bank share after the takeover by cbn should blame his\her self if he/she is trapped.

When central bank takes over any bank, the shareholders fund is as good as gone.

gamaliel9:
Who are those that liquidated Skye Bank?

I know of one Ayeni who borrowed from it without paying..Who else? Is it not time to shame people in the press? Why are we so docile like this? Shareholders...hmmm we are just interested in dividends and price appreciation.... Why is it difficult for most businesses to grow pass first generation? Look at Chase Manhattan,City Bank,JP Morgan,Societe General....etc? So many questions

"my people are living in a trance world" according to 2face Idibia. Minority shareholders just fold hands and watch!
Not a pleasant situation we are in, in this country where all regulatory institutions are either Lame duck, or rather, feed their own selfish collective interests!
My heart goes to everyone that bought into the shares. I pray for there to be a conversion to the now 'new bank' shares , as it was from Oceanic bank shares converted to Ecobank. At least then not everything will be lost.

DeRuggedProf:


Too bad!
One trading rule everyone MUST imbibe is to avoid completely any stock that keeps its quarterly and annual results!
No matter how tempted, walk away.
On NSE, a one night stand almost always end up producing a baby mama.
If you expect a baby, why take a woman without a womb to bed?
I was severally burnt almost beyond recognition doing that.
Fidelity was not a bad buy below N1.59, but I consistently avoided JIJO after I felt their Q2 was delayed unduly and will stay away until they release that result.
I prefer to JIJO on a VERY bad result than NO RESULT.
When you keep your result, I keep my cash.

You have said it all. Let me start by saying our leaders and regulators are the most wicked on planet earth. They just rubbed investors of their hard earned money. They were several red flags but they pretend not to always see it and would not act even after been confronted with evidence. It all boils down to politics of interest. Corruption is everywhere from Aso Rock to me & you here on nairaland.
We may say thank God I was not affected, but as at today several listed companies are showing similar signs with red flags -Diamond, Oando, etc. but instead of the regulators to call the management to order and sack where needed they are again acting dumb to the detriment of minority shareholders.

1. Going forward I have decided to throw NSE & long term investing into the dustbin
2. Delay your result, that company will never see a dime from me.
3. loss in FY audited you will not see a dime, even if you declare profits in un-audited Quarterly result
4. If you want my money, you must declare progressive profit in both quarterly & audited result.
#QED

In light of this reevaluation, I would offload every single stock I have with Diamond bank plc on Monday, until Mr. Uzuoma gets sense. A stitch in time...saves nine. Only my Zenith bank is worth keeping atm.

Pple are scared of Diamond bank, but the next tsunami will not be from the banking sector. It will be in the insurance sector where a new set of reforms are being implemented. Many insurance firms will not meet their capital requirements.
I remember one of them announcing plans to do rights issue abu na private placement of 40billion new shares. I just dey laf at their shareholders.

Haaa, why you dey fear to mention name? . That tsunami would be brutally brutal.

Mpeace:
Pple are scared of Diamond bank, but the next tsunami will not be from the banking sector. It will be in the insurance sector where a new set of reforms are being implemented. Many insurance firms will not meet their capital requirements.
I remember one of them announcing plans to do rights issue abu na private placement of 40billion new shares. I just dey laf at their shareholders.

Mpeace:
Pple are scared of Diamond bank, but the next tsunami will not be from the banking sector. It will be in the insurance sector where a new set of reforms are being implemented. Many insurance firms will not meet their capital requirements.
I remember one of them announcing plans to do rights issue abu na private placement of 40billion new shares. I just dey laf at their shareholders.

Na Madam Mcy56 stocks you dey mention so oooo. Those banking stocks and insurance stocks, come join First Aluminium. Maybe she go re-capitalise them self, become majority shareholder. You can never tell how deep her pockets are.

lancee:




Thanks bro.. No longterm investment for now

Actually No long term investment in dead stocks for now you should be saying.. and also the ones dead and trying to resurrect.. No go close..
Skye bank was on life support we all knew that but choose to gamble our money because of greed and fast %%%..
Someone once said why will he buy big caps that can not give him fast 20% ? Well this is one of the reason why we should always go for good fundamental stock and always follow up with them.. any moment their results go missing, you go missing with your money too.

I want to use this opportunity to thank CP
Cp for asking me what I’m doing in Skye banksnd Wema..after that comment, l login and sold my 366 million units @ 50, receiving an haircut of 900k... you spoke sense into me.
God bless you..
900k is better than 2.7 million.

Lol nowadays I’m missing the old CP that’s why I’m always @ you. Please bring back the old CP with real talks (FA and FP)


Hmmmm people are wicked they released 2 year results and promised to release the rest when in fact they knew the bank is gone.. MY GOD !!!

dipoolowoo:
NSE Suspends Trading of Skye Bank Shares
https://www.businesspost.ng/2018/09/22/nse-suspends-trading-of-skye-bank-shares/

So fast ? OMG!

aremso:


Love your question, please note that wema is own by the SW States just as unity bank is owned by the northern States and they will do anything to ensure nothing happens to their bank. The duo would have gone long a go under sanusi as CBN gv but diamond is perceived to be owned by individual and other share holders who are not core owners. Just my thought though

I don’t want to know who owns what.. let the president of Nigeria own wema, if the bank dey shack na to shack with my money too..
Whether diamond or wema all of them na the same until they improve

dipoolowoo:
On Sept 7, 2018, a member of this group posted a link, https://zerodha.com/varsity/, on this platform.

My advice to the NSEMPA family is to take time to go through the link, especially new investors here, to have a better understanding of the stock market and the red flags to watch out for. Even gurus can check it out, you might learn something new.

It is really unfortunate that minority shareholders at the stock market are used like pawns in the game of chess.

Is it that post that inspired you to sell?

Yayira:


Actually No long term investment in dead stocks for now you should be saying.. and also the ones dead and trying to resurrect.. No go close..
Skye bank was on life support we all knew that but choose to gamble our money because of greed and fast %%%..
Someone once said why will he buy big caps that can not give him fast 20% ? Well this is one of the reason why we should always go for good fundamental stock and always follow up with them.. any moment their results go missing, you go missing with your money too.

I want to use this opportunity to thank CP
Cp for asking me what I’m doing in Skye banksnd Wema..after that comment, l login and sold my 366 million units @ 50, receiving an haircut of 900k... you spoke sense into me.
God bless you..
900k is better than 2.7 million.

Lol nowadays I’m missing the old CP that’s why I’m always @ you. Please bring back the old CP with real talks (FA and FP)


Hmmmm people are wicked they released 2 year results and promised to release the rest when in fact they knew the bank is gone.. MY GOD !!!

Since the regulators have chosen to go to sleep, rather than sack this managements form the onset. Best is login & do the sacking from the comfort of your home. Diamond is getting that from me come Monday.

Yayira:


Actually No long term investment in dead stocks for now you should be saying.. and also the ones dead and trying to resurrect.. No go close..
Skye bank was on life support we all knew that but choose to gamble our money because of greed and fast %%%..
Someone once said why will he buy big caps that can not give him fast 20% ? Well this is one of the reason why we should always go for good fundamental stock and always follow up with them.. any moment their results go missing, you go missing with your money too.

I want to use this opportunity to thank CP
Cp for asking me what I’m doing in Skye banksnd Wema..after that comment, l login and sold my 366 million units @ 50, receiving an haircut of 900k... you spoke sense into me.
God bless you..
900k is better than 2.7 million.

Lol nowadays I’m missing the old CP that’s why I’m always @ you. Please bring back the old CP with real talks (FA and FP)


Hmmmm people are wicked they released 2 year results and promised to release the rest when in fact they knew the bank is gone.. MY GOD !!!

Even the ones alive are giving us running stomach.

stcool:


Since the regulators have chosen to go to sleep, rather than sack this managements form the onset. Best is login & do the sacking from the comfort of your home. Diamond is getting that from me come Monday.

That’s the way to go !..
Imagine no one saw this coming.. Skye was raising making people feel like maybe the rest of the results were good and maybe people have sighted the result not know it was taking its last breath!

Chai weytin i don see for NSE don pass me oo I don’t want to see anymore.. since January when I start to trade na from one story to another..

Mpeace:
Pple are scared of Diamond bank, but the next tsunami will not be from the banking sector. It will be in the insurance sector where a new set of reforms are being implemented. Many insurance firms will not meet their capital requirements.
I remember one of them announcing plans to do rights issue abu na private placement of 40billion new shares. I just dey laf at their shareholders.

Bad management or mismanagement of publicly quoted companies don't get consequences, no threat to their jobs or future jobs, no fear of persecution.
And also why do the regulatory authorities stand by with all the red flags and watch companies ground to a halt or get to a dire state be4 coming up with reforms for implementation when in fact the minority shareholders are the ones that always end up being at the receiving end!

Northeastern:


Oya go join Mercy them for class.

Statement of account or ledger statement is your cash account with your stockbroker.

Your CSCS Statement lists your holdings.

Just shenanigans, use what you're comfortable with.

Lol thanks for this..

Yes, and the Sept 8, 2018 post of Coolcash1, "Skye might be fully nationalized soon as recovery and repositioning efforts by the CBN appointed management have failed in turning the bank around...Most of their debtors seem to be stronger and influential than the management."

DeRuggedProf:


Is it that post that inspired you to sell?

At times I read some foreign investment books and laugh.
I know the ideas are great, the investment advice, top notch, execution can be easily implemented, yet they completely fail to include a disclaimer "DO NOT TRY THIS AT HOME (Nigeria)."

dipoolowoo:
Yes, and the Sept 8, 2018 post of Coolcash1, "Skye might be fully nationalized soon as recovery and repositioning efforts by the CBN appointed management have failed in turning the bank around...Most of their debtors seem to be stronger and influential than the management."

Hmmm.
Take no information for granted until you complete your investigation!

DeRuggedProf:


Even the ones alive are giving us running stomach.

They are far better oo.. let’s just give them time.. at least you’ll not wake up one day and see their obituaries..
All these ones selling assets up and down na money for burial them dey gather so.

DeRuggedProf:
At times I read some foreign investment books and laugh.
I know the ideas are great, the investment advice, top notch, execution can be easily implemented, yet they completely fail to include a disclaimer "DO NOT TRY THIS AT HOME (Nigeria)."

Hahahahaha

Yayira:


They are far better oo.. let’s just give them time.. at least you’ll not wake up one day and see their obituaries..
All these ones selling assets up and down [i]na money for burial them dey gather so.[/i]

Some are even including the one for one year remembrance. Like the evil gem.

mendes911:


Na Madam Mcy56 stocks you dey mention so oooo. Those banking stocks and insurance stocks, come join First Aluminium. Maybe she go re-capitalise them self, become majority shareholder. You can never tell how deep her pockets are.

mendes911 you no dey disappoint.I was reading the comment without first looking at the moniker.in my mind I was saying " na mendis be this oo" I looked up,behold na mendis911.aaaaaahhhhh.

DeRuggedProf:
At times I read some foreign investment books and laugh.
I know the ideas are great, the investment advice, top notch, execution can be easily implemented, yet they completely fail to include a disclaimer "DO NOT TRY THIS AT HOME (Nigeria)."

Simply put nothing works here...it a reflection of how we are as a nation. Its only in Nigeria you will bring a full working gas turbine from the US and as soon as it is installed in Nigeria it stops working. Even warren Buffet would not be the richest man if he was doing long term with Nigerian stocks. Wondered why Americans and Europeans hate the way we do business. Its only the Chines, Indians, and Lebanese that enjoys this fraud. The real investors know the consequences back home.

I get your drift, but one thing I do is to domesticate any foreign knowledge I acquire. It is very key in applying what you learn. Naija na entirely a different country. In fact, it is a planet Geographers are yet to discover.

DeRuggedProf:
At times I read some foreign investment books and laugh.
I know the ideas are great, the investment advice, top notch, execution can be easily implemented, yet they completely fail to include a disclaimer "DO NOT TRY THIS AT HOME (Nigeria)."

The worst thing that’ll ever happen to a newbie is to come NSE and start buying dead stocks. Because they are cheap and tend to move fast..
I don’t know what to do with my diamond.. Oga wanaj0 please any advice for a sister ?

Yayira:


Actually No long term investment in dead stocks for now you should be saying.. and also the ones dead and trying to resurrect.. No go close..
Skye bank was on life support we all knew that but choose to gamble our money because of greed and fast %%%..
Someone once said why will he buy big caps that can not give him fast 20% ? Well this is one of the reason why we should always go for good fundamental stock and always follow up with them.. any moment their results go missing, you go missing with your money too.

I want to use this opportunity to thank CP
Cp for asking me what I’m doing in Skye banksnd Wema..after that comment, l login and sold my 366 million units @ 50, receiving an haircut of 900k... you spoke sense into me.
God bless you..
900k is better than 2.7 million.

Lol nowadays I’m missing the old CP that’s why I’m always @ you. Please bring back the old CP with real talks (FA and FP)


Hmmmm people are wicked they released 2 year results and promised to release the rest when in fact they knew the bank is gone.. MY GOD !!!

Got u sis , I still do not believe on Long term for now .. For example, First bank that was bought btw 18 to 21 naira 2013 and U and I know the how low it went 3.50k and i think highest this yr was like 14 naira


Not to talk about pple that bought the IPO @ 33 naira 2007, have some friends that took loan from UBA those days and bought @ 54naira
Thank God FBNH survived it , but lots of pple that bought high still dey on -ve or sold at loss
I agree with you that skye did not release their results and that was a warning sign ..what about oceanic, bank phb, intercontinental bank etc
What about those that bought skye IPO like me @14 and trusted the longterm investment and even if am still selling @ 80k it will be at great loss

Cecilia ibru was still on Hard talK BBC running her mouth few months before the shocking news that the bank was one of the best while shareholders were not aware the bank was already sinking ..The woman even won award for the Bank
If you re on longterm on NSE you have to be extra sensitive to info you may end up winning but for me am Done !

is it not save to avoid the financial institutions altogether? the bank is big until it fails,Lehman brothers comes to mind.I was fortunate to be in a restaurant with the past CEO of first bank( vi Lagos).He sat down and within 20 mins,this beautiful damsel walked in.immediately,orders started flying in,from chicken and chips,champagne to gizzard,oboy table full oo,I guess he was trying to woo the chick.for my mind I was thinking " na my first bank money be this ooo" unfortunately,the girl no gree,as she walked out with a frowned face.