₦airaland Forum

megawealth01:
Wale na still wale no cap

Please has Oando ever defaulted on any loans? I am asking because if Oando treats it creditors the way it treats its investors then they must have defaulted on their loans sometimes. If they have never defaulted on a loan then their commitment to listing in the market must be seriously questioned.

Babygal2020:
Hello my bosses. Please what do you think is the cause of naira appreciation since a few days ago?
I have more than $1k worth but I'm skeptical about converting it to naira.

Probably the President directing NNPC and marketers to buy from Dangote Refinery. They seem to bowing down to the inevitable

yMcy56:
Seems there's more to this DS losses.....
Most of the Consumer Goods stocks are now delivering improved and better results, why should the cost of sales be this high?
Even HONEYWELL delivered good result.....
Alhaji owe the shareholders explanations on this at least.

Alhaji maybe the one with the genuine results. Me I am sceptical of all these "fantastic" results being released by most of these companies and banks. Smells like 2006.

chimex38:
Nigeria Currency
#From a Data Analyst.

https://leadership.ng/need-for-nigeria-to-introduce-new-currency/

Why not the British £ since we are a confused people? Or maybe revert back to a colony and ask the British to come back.

designking:
I never fit load to my satisfaction Oooo. I am praying it fall further. I prefer buying at a price lower than ₦600.

I was lucky to get at ₦506 last week.

Please tell me why you are bullish on Aradel. Don't you think the fact that its participation with 4 other companies in the Shell assets purchase which is now stopped should make it less attractive? Don't you think also that the price at which it listed on NGX was too high to begin with?

ositadima1:
This matters significantly for a country like Nigeria, especially coming from a period when 1 dollar was worth less than 200 naira. While the actual numbers don't directly impact the economy, a lower numerical value for the naira could inspire confidence in Nigerians, encouraging them to appreciate their currency and work to improve rather than work against the economy.

Currently, most people are stocking up on dollars, thereby making things worse.

How does it make you feel about the naira when you need to pay almost 1 million naira for a motorcycle that you used to buy for below 200 thousand? In my opinion, the benefit is more psychological.

You still don't get the point. When you misdiagnosed your problem you come up with the wrong solution. The exchange rate is a symptom not the disease. The disease is a non functional economy that doesn't generate enough jobs for it's citizens to earn a living. If you can do that and have a very low inflation where prices are stable the exchange rate will be stable, and people will not bother about the numerical values.

ositadima1:
You are right - but in the meantime, it will appear less inflated. Isn't it ironic when someone mentions one million naira as if it's a significant amount, yet it can barely buy an ordinary lady's motorcycle?

But the absolute numbers don't matter so far your economy is functioning and there's no inflation, and you are not crazy about dollars. Take the case of Indonesia. The exchange rate is 15,965 Indonesian Rupia to $1. Nearby Malaysia is about 4 Ringgit to $1. The two economies are doing fine and Indonesians are doing Japa.

ositadima1:
Besides, all these millions and thousands of naira are now overrated. As Soludo proposed during his tenure as CBN Governor, we should remove one zero from all denominations - ₦100 should become ₦10.

Similarly, when you hear ₦350,000, it should be ₦35,000, and a ₦5 million transaction should be ₦500,000.

This redenomination would help us better understand the real value of our currency. All these thousands we're throwing around are inflated figures. Under this system, the dollar would be worth approximately ₦160.

This doesn't stop your currency falling further once you make the mistake of dollarizing your economy like we have done. A case in point is Ghana. They removed all the zeros and forced back to 1cedi=$1. Today they have slid down to 16cedi=$1 and counting. That is 16x fall in the currency.

Someone thinks a banking crisis is coming:

https://www.vanguardngr.com/2024/10/nigerians-beware-banks-traveling-a-familiar-route/

phadriz:
Companies will get out of forex losses how? Are Nigerian companies selling their products in dollars? Are you saying the accumulated losses will wipe away automatically? Trade surplus will increase when Nigeria is an import economy, a country that couldn't meet OPEC quota.
I think pipeline vandalism will be on the raise in 2025 with the cancellation of ministry of Niger Delta.

Oga. They didn't cancel the Ministry of the Niger Delta. They only changed the name and brought in other similar regional development Commissions. We need to help reduce the tension in our country not increase it with such dangerous rumors.

Mpeace:
Lol. Its really taking too long. I know someone with huge short term funds in Oando and transcorp. He is over trapped at the moment.

My sympathy to the person. For my case I carry UCAP join sef.

I can't believe they are yet to finish the share reconstruction of TRANSCORP after two weeks. Are they doing it manually?

What does it mean for a serial defaulting company like Oando if their shares are not trading? Probably not much. After all it took them 3 months to respond when they were last suspended by the JSE. But suppose Trinidad and Tobago are watching, and they say they don't want a company with such image running their refinery, that will get some attention.

emmanuelewumi:
If you are not an insider you should invest based on available facts and figures not based on hope.

But if you must invest based on hope, don't have more than 20% of your fund invested based on hope

I concur. For us traders we should trade what we can see not what we want to see. I sold all my Oando yesterday based on what I saw on the curve and its antecedents. Luckily I may be right this time.

mikeapollo:
If this is true, then Wale and Oando must be held accountable. This is totally unacceptable and bad.
If they made a loss, they should just report it. They are not the first to make a loss.
All this shenanigans must stop

Oga. Those people don't believe they are accountable to anyone. Will not be surprised if this starts another round of delisting fears.

Raider76:
Our Nigerian market regulators are not that brave.

I take it back. They are brave.

Princkez:
seems OANDO shares has been suspended from trading Today till they release 2023 Audited result...please verify ooo

Our Nigerian market regulators are not that brave.

Streetinvestor2:
Oand I knew you will default on 23 results but it should not exceed this October month

The three stages of death are DOUBT, PITY, and ACCEPTANCE. We are at the 3rd stage.

TsarZed:
Still no results, Oando.

Don't worry. Up until coming Monday Morning is still 23rd. It depends on the date NGX enters as the official date of announcement.

Oando surging in the market now. Now @ 86.90. Any news?

Capitas7:
Very valid concern, but I think the "transfer form" just sounds a little misleading - it's an essential form requested for by all brokers if I recollect correctly. I actually think Morgan does not fall into this 3rd party category. I think it's those brokers with no local physical office that are "suspects".
You're an old wine, so I know you know much, boss.

Thanks for the response. Not sure of the "old wine" part thought.

Capitas7:
Many have replied with a lot of helpful advice and explanations, but I'll add from another angle:
Third party brokers are really not the best if you want to treat your holdings as assets,rather than short term trading positions. In many cases, your name will not appear on the registrar's record as a stockholder because the online broker (Fintech) are the ones who own the stocks you hold. This is like buying land without CofO. You own the plot, but with limited rights as a temporary occupant since you are not really recognized by the concerned ministry as the owner.

In addition, there is a concept called "stock lending". This business has earned many brokers several billions. It is legal at least in the US, and if it is legal on NGX, you might have signed when opening your account with a third party broker that you agree that your shares can be loaned. When loaned, traders and "shorters" can use your positions to do magic that influence the stock availability and price movements in the market while your "local" portfolio still tells you that your holdings are untouched.

Because of hardworking indigenous entrepreneurs who continue to provide jobs and establish local companies, I wouldn't say to ditch these apps, but I'd say it's good to add a broker with a physical office and good reputation.

With this explanation I wonder if Morgan are third party brokers. When I filled the e-dividend with the registrars of Linkage Assurance they told me I have to fill a transfer form with my brokers because the shares are in my broker's name.

yMcy56:
Oyel 💰 😁

Could be institutional like PFAs

Please real estate people comment on this company. Any juice?

https://businessday.ng/companies/article/haldane-mccall-gets-approval-to-list-3-12bn-shares-on-ngx/

Aradel showing signs of degeneration into a real trap. Volume traded so far only 130k, with over 8m on offer.

designking:
https://punchng.com/mining-firm-named-among-nigerias-top-10-non-oil-exporters

Japaul Gold needs to catch up with Segilola... They both have gold fields

Or Segilola needs to list on NASD and be the next Aradel

designking:
FBNH Appoints Adebowale Oyedeji as New GMD

FBN Holdings Plc, has announced the appointment of Adebowale (Wale) Oyedeji as the new Group Managing Director (GMD), effective November 13, 2024. This pivotal appointment is subject to the approval of the Central Bank of Nigeria (CBN) and will require ratification by the shareholders during the upcoming Annual General Meeting.

Looks like people named 'Wale" tend to find themselves in the money. I will note that while naming my next child.

TRANSPOWER Analysis

https://nairametrics.com/2024/10/17/transcorp-powers-impressive-9-month-results-a-smart-buy-or-wait-and-see/

Streetinvestor2:
Pls explain.A stock that can't pay you above #5 by year end is undervalued at below #300.when you have stock at 100 plus that can pay #20.And many bank at #50 and below that can pay #5 comfortable. You are using geregu that is at manipulated price because of holding structure.
For me and my likes I will not touch it at above #300....my opinion. Okumu is at what price and has already paid interim of #8

Dividend based valuation method. An NGX approach

yMcy56:
TRANSPOWER

@ 359.90 as at now.....

The money guys...lol 😁

Where's @raider76?

I de here oo. Thanks for all your encouragement and promotion of patience. You did say they will move it when they are ready.

Ginalex:
Something hoooge is coming... Elumelu stocks are sh*aking their a$$es on a yatch .. maybe birthday present go come in early . I didn't have the audacity to average down much, but I was only able to average down from 358 to 334

Let's see if the TRANSPOWER offers come out tomorrow, and how high those who made that 100k single transaction want to go.

ProphetUtuocha:
Food for thought:
Between the hastily formed 'Renaissance group' and the legendary Oando, which company is more qualified to manage the SPDC's assets?

https://www.reuters.com/markets/deals/nigeria-rejects-shells-13-billion-oil-asset-sale-thisday-reports-2024-10-16/

Watch out as things unfold!

This scenario crossed my mind yesterday. There will be huge conspiracy theories if they try pulling that out.