₦airaland Forum

Chai! Aso Savings has N50.7bn negative shareholder funds. And yet if its suspension is lifted now you will see full bids.

sterlingD:
ASO SAVINGS
https://doclib.ngxgroup.com/Financial_NewsDocs/44815_ASO_SAVINGS_AND_LOANS_PLC-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/44813_ASO_SAVINGS_AND_LOANS_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/44816_ASO_SAVINGS_AND_LOANS_PLC-_QUARTER_1_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_AUGUST_2025.pdf

Don't be surprised if they come around and say they have been paying subsidy and bridging costs.

Mpeace:
So the bulk of our fuel we consume in this country is imported. Which way Nigeria?

Findings by The PUNCH, based on the latest fuel supply data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, showed that a staggering 71.38 per cent of Nigeria’s daily petrol consumption in May and June 2025 was met through imports.

The remaining 28.62 per cent was sourced from the $20bn Lekki-based Dangote Petroleum Refinery. This indicates that marketers, who are expected to access products locally with ease in the country, are instead spending the country’s scarce foreign exchange to import refined petroleum products.

The NMDPRA disclosed this during a presentation to the Federation Accounts Allocation Committee for the month of June 2025. Our correspondent obtained a copy of the presentation on Sunday.

https://www.nairaland.com/8490267/fuel-imports-surge-71-marketers

More like a confirmation though of what they have always been. This is serious manipulation of market sentiment. So the next trench will only come if the full year 2025 results are bad.

megawealth01:
E bi like Wale don dey CHANGE small small

As I said before Oando is the perfect JIJO stock. Both the company and its faithfuls have the habit of pumping the stock with wild optimism and "future looking statements." Then suddenly the company has to release the inevitable marginal, bad or outright suspicious results and we are back to some support level.

Sunrisepebble:
Waiting for it at 40, I also want to do JIJO

Probably normal bargain Hunting. Most of the bids are @ N93 and below.

yMcy56:
It's even 18M bids against 2M offers as at now....
There's something fishy in NASCON that insiders might have been privy to....

Is it ok to now finally say that the ENI acquisition by Oando has failed to affect its top and bottom lines? It is now 4 quarters since the acquisition.

Agbalowomeri:
Una wey understand financial engineering over to you
This na book keeping and cooking

It is typical of Nigerian businesses - monkey see monkey do. Now, everybody thinks they can build a refinery.

ojeysky:
They never even start building, Alhaji go enjoy market domination while it lasts

The way these so called fuel marketers are complaining that the proposed Dangote fuel distribution plan will lead to job losses you would think Alhaji is going to use drones and robots to do the distribution. Yeye people.

Sunrisepebble:
The loss will be even worse when Dangote starts his fuel distribution business

FBN may breakout now after retesting 31. It needs to close above 36.50 tomorrow.

Ginalex:
Chai first bank and Dangsugar will make me have plenty money like Megawealth01 1 day

BREAKING: GTBank, UBA, First Bank, 5 Others Meet CBN Recapitalisation (FULL LIST)

https://newsonlineng.com/breaking-gtbank-uba-first-bank-5-others-meet-cbn-recapitalisation-full-list/

I will not be surprised if FBN is rated the healthiest bank in the country by year end.

Who says money can't buy happiness?

chimex38:
FBNHPolitics or NGx coincidence ?

https://www.thecable.ng/just-in-efcc-withdraws-fraud-charges-against-otudeko/

Thanks for the explanation. It's good to see Oando fulfilling promises. Maybe they will get around to actually fulfilling the one of share redistribution.

mikeapollo:
I think this is just to satisfy the disclosure in Oando's 2024 AFS where it was stated that there will be an extra ordinary general meeting (EGM) in 2025 to deliberate on the capital and financial position of the company.

Which one is this again?

That, and probably the MPC meeting tomorrow.

otokx:
is that why the market appears to be sluggish today?

Here we go again. Another round of second guessing Oando.

BabsO2:
From the picture attachment by Bagwa, converting $300m into shares is also on the table.

It is clearly stated that the price to be used will be determined through book building and other means.

It can be safely assumed only 10 billion new shares will be issued even if $300m of debt is converted into shares along with a fresh N500 billion being raised. This could imply a price of N100 possible if supported by the book building or other valuation method used. Think N50 is damn too low for use. It won’t be the smartest thing to do. Look at UBA they know the market is depressed or fearful in valuations and won’t do rights on just any low price

I think N50 is damn low

I don't think they will go through all the trouble of taking the bank from the hands of the Otudekos just to now give it to shaky hands. They said RC is aligned with Renaissance Capital. They also said Renaissance is big in GTCO. I think that should point to a good future FBN.

emmanuelewumi:
You are a smart guy.

Some people are fronting for politicians.

Kai. You are too far behind in the news. This new line of rumor mill was already denied by the bank itself.

Mpeace:
It seems those first bank shares might end up in Ote$ hand. It's said to be with FG's trustee and a decision will be made in 2-3weeks as to where it will end up.

Imho it has become clear to Oando that that TT refinery is not going to happen. I think they also see that TT politics and society are just as complicated as the Nigerian scene. So they want to take the bull by the horns and go for the Nigerian refineries. After all, Oando has owned and operated Nigerian onshore upstream assets for years now. They have mastered the terrain and know how to survive in that environment. That is why in the last month or so, many stakeholder groups were mobilized to call for the sale of the Nigerian refineries. This included the NNPC leadership itself finally saying that they have a review committee working that will report before December and that the sale of the refineries could be an option.

This is just my synthesis of what I observed happening on the issue.

mikeapollo:
Thanks for the update.
Why 4 long months? 2 months would have been perfect.
Oando should not rest ooo; they need to start mobilizing for lobbying now. Maybe a very good financial results for Q2 2025 would help strengthen their case.

Ok. Sometimes we are misunderstood, other times we may not mean what we wrote. No big deal.

yMcy56:
Just seeing this.
It's obvious you've not been following some of my posts on FBNH.
- Since the days of N3, I've been on FBNH's case here.....
- When Otedola stepped in at around N6/N6+, I was here encouraging interested persons to buy.......he was the one that moved it to 2 digits.....
- Immediately he showed renewed interest to increase his stakes recently, some of the few people I told to buy are here......, when it pulled back to 16, and recently @25/26...
- And so on and so forth......
- I couldn't have made posts against FBNH when recent developments are progresses on top the above points.....
* I'm Pro FBNH, I'm pro Otedola.....seems my earlier post was wrongly interpreted.😊

Lol. I have to be careful here while dealing with Agba. "Tops" and "Bottoms" could mean different things than they do to ordinary folks.

Agbalowomeri:
So you sell at the top

I don't know if mine is emotional, but I am glad I was patient and remained loyal to FBN. Like politicians say "I remain loyal." I believed in Ote$ to pull some magic and he did. I also learned not to sell a good stock at the bottom.

megawealth01:
Remove emotions when trading NGX STOCKS and you will be fine... See FIRSTBANK that has been stagnant for months has done about 40% from sub 26 as earlier pointed out days ago...

Just know what you are here to do and you will be FINE, SOFT, COOL and MEGAWEALTHY 😘

LESS NOISE, MORE WEALTH 😘

I think it sounds like Madam is not in FBN (or perhaps banks in general?). She earlier called them "falling knives", before deleting it.

megawealth01:
He is actually BUYING

Looks like Kekere Okun has met with Baba Okun.

megawealth01:
Otedola Takes Over 40 Percent Of Firstholdco In Forced Exit Of Otudeko 

https://www.thisdaylive.com/2025/07/17/otedola-takes-over-40-percent-of-firstholdco-in-forced-exit-of-otudeko/

Let me see why FIRST BANK won't compete in prize with ZENITH?

I've been busy this morning... Missed alot of actions of this market

It is possible for some of the money to go back to FBN to settle some of the NPLs associated with the Otudeco group.

yMcy56:
This got me lmao
We needed to know where that huge billions will enter thereafter.....
Make people here start to dey sniff well well from now, and whosoever sniff anything suspicious should not be selfish with it 😊

Don't forget that the man is a Forbes billionaire. He knows the value of high stock price. And now with those other guys out he doesn't have to worry about enriching his enemies. He may even get CBN to allow banks to pay dividends. Infact some speculated that the whole CBN forbearance measures threats were designed to add pressure on those guys to accept the deal and leave FBN.

ojeysky:
but it was just a cross deal not new injection of funds na why will OTEDOLA want to buy more if he has achieved his destination. As for me, na make Ellah do normal make i fit up my game in Access before it goes to where i no know

Hope Ote$ will now take FBN to match Zenith.

emmanuelewumi:
Otudeko exited First Bank.

Otedola and his friends bought the shares through cross deal.

My bad

emmanuelewumi:
Haba

Private placement on NGX.

How is that possible?

Could this be the private placement to complete their recapitalization?

emmanuelewumi:
N324 billion worth of First Bank shares traded today.

Over 10 billion shares and about 30% of First Bank outstanding shares

Keep an eye on First Bank.

Even FBN is trying to close on bid. It is now the cheapest among the FUGAZ, except Access.

Mpeace:
N50.50 right about now

It appears GTCO's price will now be determined by its price on the LSE. They are saying the price there is now equivalent to about N122. That's why you have the rally today on NGX.

jonnysessy:
Na so e dey be. Every stock get their time, don't go and sell your Aradel at a loss now. GTB had already gone far. Aradel time will come. I am in both stocks.

Yes. The elephant is showing some signs of life today. Has so far officially touched N30. Let's see who wins by end of the day. On Monday the sellers won.

olig:
The Elephant is trying to avoid his political opponent gaining Access. It might make the Elephant start running