is fbnh going back to 3?

chai,first to comment on a special page 4066.

una eku weekend ooo.

DOLLARTEX:
chai,first to comment on a special page 4066.

What's special about 4066?

them say our president fail maths!

DOLLARTEX:
them say our president fail maths!

Accept my condolences

Agbalowomeri:

What's special about 4066?

agba do you really need to know?

DOLLARTEX:
agba do you really need to know?

Your number for una confra

Agbalowomeri:

Your number for una confra

you are very close,try again.

,before somebody go use FA and TA wound me for real.

Breaking: Two banks, HSBC, UBS close their offices in Nigeria ON NOVEMBER 3, 201812:09 PMIN

BUSINESS, NEWS, TRENDINGCOMMENTS By Nwafor Sunday Report from the Central Bank of Nigeria,
CBN, has revealed that two global giant banks, HSBC and UBS have closed their respective offices and shut down operations in Nigeria. Garba Shehu The reason for the decision was not given but the apex bank had revealed that foreign direct investment in Nigeria fell to N379.84 billion in the first six months of 2018, compared to N532.63 billion recorded in 2017.
‘Technology, major reason for Nigeria’s global relevance’. Recall that UBS opened its doors in Nigeria in mid-2014 to connect prospective clients with its offshore centers in Switzerland, the UK, Dubai and Singapore, where dedicated client advisers offer personalised service and full access to the bank’s vast global resources.
CBN according to PremiumTimes equally revealed that the rising foreign debt and uncertainty surrounding the 2019 presidential election was a drawback. SME financing: DBN joins SME Finance Forum Reuters reports that investor confidence in Africa’s biggest economy has been shaken since the CBN got entangled in an alleged illegal repatriation of funds battle with telecom giant, MTN Nigeria.
Recall also that HSBC had predicted doom for the Nigerian economy should President Muhammadu Buhari wins in the forthcoming 2019 general election.
However, following its prediction, presidency through the minister of Information and culture, Alhaji Lai Muhammed, replied the global giant bank as follows: “We have all read that the Intelligence Unit of the Economist said the PDP will defeat the ruling APC in 2019.
Top banks struggle to grow earnings,profitability “We have also read that the international financial institution, HSBC, said Nigeria’s economic development will be stunted if President Buhari gets a second term. “Let me state clearly that these reports are based on fake premises and, therefore, qualify as fake news. “It is a psychological warfare by those who have been badly hit by our policies”. The minister explained: “Our fight against corruption has meant that many financial institutions, especially banks, that fed fat on the proceeds of corruption are no longer able to do that.

“Also, international publications that used to feed fat on questionable supplements paid for by the Federal Government have seen a drastic reduction in such patronage, as the Administration cuts down on frivolous spending that was the order of the day in the past. “Therefore, it is natural that these institutions and publications would not wish to see another term for this Administration. “The truth, however, is that only the good people of Nigeria will determine who presides over the affairs of the country, not any bank or media establishment, irrespective of their influence or self importance” We won’t rest until HSBC returns our money – EFCC In view of the above reply, the Economic and Financial Crimes Commission, EFCC, in a statement disclosed via the agencies official facebook handle, opined that it wou

Read more at: https://www.vanguardngr.com/2018/11/breaking-hsbc-ubs-close-their-offices-in-nigeria/

https://punchng.com/foreign-reserves-sink-below-42bn-lowest-in-eight-months/

It's clear that foreign investors has pulled out, and the remaining are gradually pulling out, by January/February 1st/2nd week ground will be matured enough for bonanza we are talking about, stay tone. Get ready, prepare yourself because cash is king.

Did anyone rake a look at Unity bank result?
Hmmm they have cleared their NPLs to 0%, and equally up to date on all regulatory requirements. Hmm. This one shock me oh.

Chibuking81:
It's clear that foreign investors are has pulled out, and the remaining are gradually pulling out, by January/February 1/2nd week ground will be mature enough for bonanza am talking about, stay tone. Get ready, prepare yourself because cash is king.

I thought it is after election.

Mpeace:
I thought it is after election.

January/February are both bonanza period

Bananza has come

Mpeace:
Did anyone rake a look at Unity bank result?
Hmmm they have cleared their NPLs to 0%, and equally up to date on all regulatory requirements. Hmm. This one shock me oh.

Its as a result of this https://punchng.com/unity-bank-sells-n400bn-bad-loans-to-lure-investors/

é ku market oooooooo. Happy Weekend

Fresh Panic Over Nigeria’s Economy as Two Banks Pack up
https://www.businesspost.ng/2018/11/03/fresh-panic-over-nigerias-economy-as-two-banks-pack-up/

Unity Bank to Unveil New Investors After Failed Milost $1b Deal
https://www.businesspost.ng/2018/11/03/unity-bank-to-unveil-new-investors-after-failed-milost-1b-deal/

Mpeace:
@ Airservices. January bull is still on.

There will be bull in January. O sure ju!

Diamond Bank is the suspected bank
Debt assets ratio is heading southward
Extract from Bloomberg

Unity bank....2nd Suspected bank

makashava:
There will be bull in January. O sure ju!

There will be a terrible bear in January/February, grand papa of bear and his family, that's why I called it bonanza period.

https://punchng.com/global-banks-exit-from-nigeria-bad-signal-experts/

Global banks’ exit from Nigeria bad signal —Experts
NEWS
Published November 4, 2018
’FEMI ASU

A foremost financial and economics expert, Mr Bismarck Rewane, has described the exit of two global banks, HSBC and UBS, from Nigeria as a bad indicator.

Also, the Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr Johnson Chukwu, also said Nigeria should be worried about the development.

The Central Bank of Nigeria said in a new report that two representative offices of foreign banks in Nigeria (HSBC and UBS) had been closed, bringing the number of representative offices of foreign banks to eight at the end of June 2018.

The CBN did not give reasons for the closure of HSBC Representative Office (Nigeria) Limited and UBS (Nigeria) Representative Office Limited, both located in Lagos.

Rewane, who is the Managing Director of Financial Derivatives Company Limited, said on Saturday that the country needed to attract more investment, which he described as a function of confidence.

“When big institutions like HSBC and UBS come to your country, it improves the confidence level and other investors will take their cue from there. When they leave the country, other investors will say that there must be a problem for them to leave. So, it is not a good thing,” he told our correspondent.

Rewane said, “Nigeria will be judged, not by what we say but by what we do. So, we can say all we want to say; it is what we do that is important. It is a bad indicator when two of the top banks, which we call bulge-bracket firms in investment banking, such as HSBC, UBS and Goldman pull out of your country.

“For example, if McDonalds and Burger King come into your country, it is a good indicator; it means that your consumer space is improving and that your urban centres are becoming very cosmopolitan. When KFC closed down its operations in Zimbabwe two weeks ago, you could see that the Zimbabwe currency actually stumbled.”

He added, “So, the exit of HSBC and UBS is definitely a negative thing. We need all the investment we can find at this time.”

Chukwu said the banks came into the country with the hope that economic prospect would improve but “unfortunately, projection on the economy is not quite strong.”

He also said, “For economic managers, it is a clear indication that investors are voting with their feet, and that the prospect of our economic environment is no longer as strong as it used to be when the banks came in. It is for us to sit back and then look at why our economy is no longer as attractive as it used to be.

“For me, it (the banks’ exit) is a cause for concern, given our drive to encourage foreign direct investors. Where foreign financial institutions are operating, it becomes easier for investors from their local environments to navigate the investee countries.”

But a professor of economics at the Olabisi Onabanjo University, Ago Iwoye, Sheriffdeen Tella, said the closure of the banks’ Nigerian offices would not have any major impact on the Nigerian banking sector.

“It is not because the economy is not good,” he said, adding that the banks might be trying to adjust their costs in different countries and so might consider their operations in Nigeria not very important.

The CBN said in the report that the flow of foreign direct investment into Nigeria fell to N379.84bn in the first half of the year from N532.63bn a year earlier.

Investor confidence in the country has been shaken since the central bank in August ordered MTN to bring back $8.1bn to the country, part of the profits the South African telecoms firm sent abroad

Godlylifeoneart:
Diamond Bank is the suspected bank
Debt assets ratio is heading southward
Extract from Bloomberg

Bros you no even read the article
Na foreign bank offices in naija the article talk about na

Agbalowomeri:


Bros you no even read the article
Na foreign bank offices in naija the article talk about na

Agba , what sign should we look out for to know if the msrket is or has reversed from besrish mode. 32000 is highly threatened.

dipoolowoo:
Fresh Panic Over Nigeria’s Economy as Two Banks Pack up
https://www.businesspost.ng/2018/11/03/fresh-panic-over-nigerias-economy-as-two-banks-pack-up/

Unity Bank to Unveil New Investors After Failed Milost $1b Deal
https://www.businesspost.ng/2018/11/03/unity-bank-to-unveil-new-investors-after-failed-milost-1b-deal/

love the new look of your site , i nearly confused it with busineess day site until I did not get this message "pls subscibe to read full story"........ Keep the good work alive

GB2G:


Agba , what sign should we look out for to know if the msrket is or has reversed from besrish mode. 32000 is highly threatened.

I am sure BBM/Fxuser will give a call

GB2G:


Agba , what sign should we look out for to know if the msrket is or has reversed from besrish mode. 32000 is highly threatened.

@ agba, I thought you were aware of 3 unnamed banks in Nigeria that failed CBN capital adequacy ratio.

Nigeria: 3 Banks Fail CBN's Liquidity Ratio Requirement
Tagged:
BankingBusinessNigeriaWest Africa
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Photo: Pexels
By Babajide Komolafe and Elizabeth Adegbesan
Three banks failed to meet the 30 percent liquidity ratio requirement of the Central Bank of Nigeria, CBN, even as investigations revealed prevalence of major foreign exchange malpractices in the banking industry.

The CBN disclosed this in its 2018 half year, H1'18, economic review released yesterday which indicated slight improvements in the banks' financial health buoyed by sustained recovery in macroeconomic conditions, as reflected by the 1.9 percent and 1.5 percent Gross Domestic Product, GDP, growth rates recorded in the first quarter (Q1'18) and second quarter (Q2'18) of the year respectively.



The CBN noted that while in the overall, the banking industry recorded improvement in capital adequacy ratio, liquidity ratio and asset quality (non-performing loans ratio), three banks, however, failed to meet the 30 percent minimum liquidity ratio requirement of the apex bank. It did not mention the names of the affected banks.

The report stated: "The health of banks improved in the review period, following the sustained recovery in macroeconomic conditions, including declining inflation, stable exchange rate and gradual upswing in the real economy.

"At end-June 2018, the industry average capital adequacy ratio (CAR) was 12.08 per cent, compared with 10.23 per cent and 11.51 per cent at end-December 2017 and end-June 2017, respectively. The development reflected the increase in banks' total qualifying capital.

"The industry threshold, however, remained at 15.0 per cent for banks with international authorisation and 10.0 per cent for banks with either national or regional authorisation.

The 3rd bank is most likely wema

https://googleweblight.com/i?u=http://c.newsnow.co.uk/A/961324404%3F-395:737:3&hl=ha-NG&tg=313&pt=8

BREAKING: All Airports in Nigeria to Shut down on Tuesday

Published 1 hour ago on November 4, 2018
By Politics Nigeria

All Unions in the Nigerian Aviation industry are set to participate in a planned Strike by Labour unions all over the country scheduled to commence on Tuesday, November 6th.
PoliticsNGR gathered that the unions backed the agitations of the Nigeria Labour Congress(NLC), Trade Union Congress(TUC) and the United Labour Congress (ULC) to ensure that workers were appropriately paid their wages.

The unions: National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), National Association of Aircraft Pilots and Engineers (NAAPE) and the Association of Nigeria Aviation Professionals (ANAP) in a notice dated November 3, 2018, said that they would participate actively in the strike to call for improved wages for members.
The notice was signed by Comrades Temenu Akinola (NUATE), Frances Akinjole (ATSSSAN), Ocheme Aba (NAAPE) and Abdulrasaq Saidu for ANAP.
They stated that the Nigerian airspace would be shut down from 12 am on November 6, 2018.
The notice also applied to all businesses and agencies involved with aviation
The notice read in part: “In complying with the directive of the labour centers, therefore, we issue this notice to all workers in the aviation sector to withdraw all services from 00:00hrs of November 6, 2018.
“The notice also applies to all businesses and agencies involved with aviation to be aware of the above situation and adjust business accordingly. The general public, especially the international traveling public, are equally notified to avoid, or cancel, plans to utilize workers in the aviation sector.


“For emphasis, all workers must comply with this directive as our unions will not tolerate any sabotage of the strike.”