₦airaland Forum

husu:
@rasputin,longest time! these bears don dey enter small small.

This one pass small small entrance,it's actually going to be an invasion,but the interesting thing is there are profit takers who entered around May and they are smiling all the way to the banks

So whether[i] small small[/i] entrance or invasion,there's always a silver lining somewhere,it all boils down to what I'll call opportunity

Stockbrokers have called on the governor of the Central Bank of Nigeria (CBN), Sanusi Lamido to always make complimentary policies that would grow the nation’s financial sector.
This observation is coming on the heels of the recent freefall in stock prices at the nation’s capital market which operators say may not be in connected with the recent directive from the apex bank on the audit of the universal banks aimed to ascertaining their level of exposure to the capital market and other key sectors.
BusininessDay had reported authoritatively that banks were directing their subsidiaries to offload stocks held in quoted companies to shore up their books and beef up their assets.
Meanwhile, market operators recall that the downturn witnessed in the capital market last year stemmed from some policy pronouncements by the regulators which caused destabilisation in the system.
According to the chief executive officer of a stockbroking firm, who spoke to BusinessDay on condition of anonymity, “the CBN governor should always “make complementary policies; he should know that we are in the same financial system; he is in the money market while we are in the capital market”.
An investor said that the CBN governor’s statement on the likely reduction in the number of existing banks to 15 have prompted investors to have a rethink on banks stocks. He observed that there was heavy offloading of bank stocks; an indication that investors perceived them as high risks. Operators suggest the need for consultation between the two regulators of the money and capital markets when policy are to be made; noting that if there is consultation between them in terms of policy pronouncements, it would help a lot of things in the financial system and the economy as a whole.
Investors were seen to be in panic disposal of their bank stocks last week which caused significant contraction in market indicators. Market capitalization had closed at N5.9 trillion from N6.6 trillion in the previous week; indicating a loss of N700 billion in one week.
Similarly, the all share index was down to close at 25,813.55 points from 28,910.19 in the same review period, having dropped 3,096.64 points. Overall, the market declined by 10.71 percent last week. Trading activities recorded a turnover volume of 2.64 billion shares valued at N20.64 billion as against 2.75 billion shares worth N25.34 billion.
All NSE sectoral indices slumped except the oil and gas index. Banking sub-sector trading volume show consistent reduction over the period, this culminated in a huge loss. Banking sub-sector which recorded a turnover volume of 341.1 million shares valued at N3.6 billion to open the week on Monday June 22, 2009 by Tuesday the volume reduced to N328.8 million shares worth N3.6 billion. Wednesday the figure slumped further to 221.2 million shares worth N2.6 billion.
Similarly, 129.8 million shares valued at N1.4 billion were traded on Thursday while the week ended with an increase to 231.3 million shares valued at N2.6 billion. As a result, all the bank stocks declined in value during the period under review.
Moreover, the sector as usual was still the most active with a traded volume of 1.25 billion shares worth N13.8 billion.
NSE banking index dropped by 13.73 percent to close at 433.46; the NSE insurance index also declined by 7.53 percent to close at 369.91 while the NSE food and beverages index lost 7.0 percent to close at 491.03 points. Only the NSE oil and gas index recorded a marginal gain of 0.28 percent to close at 399.33 points.
With pressure exerted on stocks, trading produced a total of 102 stocks which depreciated in value compared with only 12 stocks that appreciated during the week.



http://www.businessdayonline.com/index.php?option=com_content&view=article&id=3522:operators-look-to-cbn-for-support&catid=58:investor&Itemid=304

Rooting for Murray to go ALL THE WAY

otokx:
This can mean just one thing; prices going down.

Dy-no-mite PING

whitelexi:
The prices r already taking a nose-dive, .

Just wait for the approach of the year end,I'm really chilling and watching very closely so I can make some entries few weeks to a few months after their uniform year-end(once it's implemented,I'm not putting it beyond the egg-heads at the CBN to announce a postponment)

na2day?:
first, tell us ur original id wey u get, this one wey u get only 8 post, udi very suspicious
then 2ndly if u are truly in love with the dude, come see me, getting seun is not that hard but u must first be a female (no she-males dont count) and then be truly serious. worst case scenario na to NL server, if hin info no dey there, use the server IP find hin host wey dey support this board with bandwidth & storage then proceed from there get u hin info, send CIA to go kidnap am come give u, then lock the 2 of una for one room throw way the key, shikena, church don close!

Very funny indeed,but like Seun,I still think (until proven otherwise)the OP is dude

Where ma September peeps @??

I really wonder why the particular interest in customs,Nigeria;we hail thee

JJYOU:
[size=20pt]North trades IGP seat for Customs top job[/size]

Taiwo Adisa, Abuja - 29.06.2009

The Presidency was said to have shortlisted five Deputy Inspector Generals (DIGs)

@ Mr Taiwo Adisa

It's Deputy Inspectors General

@ RSA

Please don't mind the detractors,they're out to distract you from the task of filling Muki's bucket,so oya cry more please

Hope he made peace with God before his death,_{I doubt that though as it was a sudden death,any lessons there}

[img][/img]

I heard he had prescription medication issues,added to the fact that he had the multi concerts in London,he needed to do a lotta physical training to be in top shape,was into medications for whatever,he was in debt,he was always being sued et cetera,I guess the whole thing was damn too stressful on his heart

Undoubtedly,a star is gone to shine no more

Adieu

[img][/img]

Just look in front of or behind Femi Otedola,you'll meet him there

The opposite of which a bad wife will do

At least this OP got the spelling of appalling right,I still remember apauling,yamporling,hourpalling,appaling saga by another OP sometime ago who wouldn't remove the log from his eyes before seeking to remove the speck from his neighbours.Boy was that thread hilarious  

Coincidentally,I was chilling with some banker freinds of mine on Sunday evening and they were saying how Sanusi was really going to ask some CEOs to provide for bad facilities extended to some companies some years ago in the then STB as well as all bank CEOs to provide fully for all sundry margin loans

Also heard a particular MD was already doing a sort of "cabinet reschuffle" to displace members of his staff percieved to have any iota of loyalty to Sanusi,at least to ensure a lot of things that" happened in Vegas stay in Vegas" if you know what I mean

It will get more interesting as we approach the Nov/Dec

mbulela:
2ndly, what do you think is the most critical need of the industry at present? (i mean from a practitioner point of view)

Are you asking,bro the most critical need can be summed up into one word FUNDS

porka:
so much for morality and generation. this is abati's friend and a prominent member of his generation. what did he say to him. they are both getting land allocation from left, right and centre.

Hm,Porka,Porka,Porka
Hope you're not whistle-blowing as something tells me you know Prince Obaigbena and RA on a personal level and they maybe short-changed you in one of those land deals

Ndukwe’s Supporters Linked with Campaign against Akunyili



Supporters of the Executive Vice Chairman of the National Communications Commission (NCC), Ernest Ndukwe, were yesterday accused of being behind the campaign of calumny  against the Minister of Information and Communication, Prof. Dora Akunyili, following the controversy that trailed the sale of the 2.3GHz spectrum licence.
A source within the minister's camp said, "It is now clear that those behind the sponsored advertorials for the governorship of Anambra State in 2010 which appeared on May 28, in the Vanguard Newspaper  and the one that appeared about a week later on June 6, 2009   in the Saturday Sun Newspaper, titled “All that Glitters is not Gold”  are also the ones behind the two recent advertorials  in support of Ernest Ndukwe, the  Executive Vice Chairman of NCC titled “Ernest Ndukwe: Silence Is Golden”  that appeared in two national dailies  today, June 24, 2009.
"The link here is that the Anambra gubernatorial adverts and the two adverts in support of Ernest Ndukwe over the controversial sale of the 2.3GHz spectrum were signed by the same person, Chief Ben Odenigbo".
The minister's camp is maintaining that since the said Odenigbo of the Anambra True Demoncrats signed both the Anambra gubernatorial adverts and the one in support of Ernest Ndukwe which appeared in THISDAY and Vanguard Newspapers, then the latest adverts had revealed  those behind the campaign of calumny and character assassination targeted at Akunyili.
"These adverts in the papers was long on adulation and praise for Ndukwe and  spared nothing in the direct and unsubstantiated attacks aimed at the minister. This is evidential of where the attacks are coming from and who is responsible for or paying for them", a source within the minister's camp said.


@ Madam NAFDAC
Your braggadocio and muscle-flexing are unwarranted,period

Stock Market Loses as CBN Audits Margin Loans
By Ayodele Aminu and Goddy Egene, 06.25.2009

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The Nigerian stock market shrunk by 6.9 per cent within three days following pressure by banks to minimise margin loan losses as well as panic sale by other investors who are said to have reacted to the decision of the Central Bank of Nigeria (CBN) to audit the loans.
The market, which witnessed significant recovery from last April till the beginning of this month, had opened trading last Monday with a fall of 0.9 per cent.
By last Tuesday, the decline was 2.5 per cent before a heavy fall of 3.5 per cent yesterday.
The Nigerian Stock Exchange (NSE) All-Share Index, which is the major barometer for the performance of the market, closed at 26,927.65, down from the opening value of 28,910.19.
Also, the NSE capitalisation, which measures the value of equities, closed at N6.141 trillion, indicating a fall of N452 billion in three days.
Indications also emerged yesterday that three of the big banks have withdrawn their funds from the inter-bank market – where banks borrow from one another to cover their positions – for investments in Treasury Bills and government bonds and Open Buy Back, with a view to shoring up their liquidity for the December 31 common year end for all banks in the country.
Market operators said the sudden bearishness of the market resulted from a combination of many factors including selling-down by some banks to reduce losses in their margin loans - in reaction to three issues raised by the Central Bank of Nigeria (CBN) governor, Sanusi Lamido Sanusi, in an interview with the Financial Times of London.
These issues are: 100 per cent provisioning for margin loans; possibility of another round of consolidation and removal of CEOs that cook their books.
But the governor, who noted that the market had been on the decline before his statements, told THISDAY yesterday that he was undeterred by these developments – because his primary responsibility is to have safe and sound financial institutions.
He said: “If the market marks down bank shares because of reforms, I cannot really help it.
“I am not going to compromise on the altar of the share prices. I think [my] comments should be viewed as positive from the investor perspective because it would institute improved regulation and banking operations in the country.
“It is sad if there are investors who are not happy that the regulator is trying to institute reforms. However, that would not deter me from instituting improved transparency and regulation in the banking system.”
Commenting on these developments, a senior stockbroker said: “Given the fact that the CBN Governor has said banks should disclose their margin loan exposure with the view to making provisions for them, some of the banks are taking advantage of price growth witnessed in the market recently to reduce their losses. That move by the banks at the same time is putting the market under pressure.”
Another broker said that the comments by the World Bank that the Nigerian banking system was under stress, as well as Sanusi’s comments, are sending panic to some investors.
“When the CBN governor makes a statement, it is taken very seriously, considering the relationship between the money and capital markets and given the fact that the banks constitute over 60 per cent of the market capitalisation. Investors are bound to react to such comments by the CBN boss,” another operator said.
The Managing Director of Crane Securities Limited, Mr. Mike Ezeh, said: “Apart from the usual profit-taking, since the market is information driven, any comments that affect listed companies, whether banks or manufacturing firms, are supposed to reflect in the stock market.”
However, the Managing Director of Partnership Investment Company Limited, Mr. Victor Ogiemwonyi, said a bear market was not unexpected given the fact that some banks are preparing for their half year results, while others are trying to align with the December 31 uniform year end stipulated for all banks.
He said: “June 30 is around the corner and companies who have that date as their second quarter or year end are coming together. Apart from the usual month end expenditure pattern that brings in only seller, June is particularly difficult as most institutional investors and banks adjust their books in anticipation of year end.
“The market was not helped by the recent reports that our banks may be weaker than we anticipated. There is also the suggestion that the pent-up sale orders that were held back in the last few days may also have impacted the market yesterday after the limit order was lifted. What investors need to know is that the worst is over for the market. We will need a few more months for the market to stabilise.”
However, a source in the stockbroking arm of one of the banks linked the bearish trend in the past few days to cautious approach by market speculators who are trying to guide against losing the capital appreciation recorded in the past two months.
The source explained that such speculators are not sure of the sustainability of the bull run witnessed recently.
“They want to make sure that what they have gained is not lost. That is why some of them are selling and when there is more supply than demand, prices tend to fall. That is what is happening,” the source said.
About 20 banks recorded price losses yesterday, indicating that banking shares, which constitute more than 60 per cent of the market capitalisation, are being dumped.
Some of the banks had recorded capital appreciation of over 30 per cent since the market began to recover last April.
On the movement of funds from inter-bank market, Sanusi told THISDAY: “This had been on for a while and was not as a result of any statement attributed to me. The CBN has been aware of the decline in inter-bank lending and will introduce the necessary measures to restore confidence in the inter-bank market.”


In the words of Alariwo,yawa go gasss,breeze wan blow and we go soon see plety fowl nyash

The green beret
The drunken master
Passenger 57
Be cool


In no particular order

What's the latest on the 2.3GHz licence that caused so much brouhaha between Akunyili and Ernnest Ndukwe? are they retaining the initial four successful companies now that Galaxy wireless has denied ever authoring the said petition,they should please retain them coss I've taken position to partner with one or two of them in their roll out

mbulela:
not exactly. MTN uses Ericsson down south and Huawei up north, while Zain is spilt into three between Huawei, Motorola and Ericsson.
inside sources say it is for strategic reasons. so that Ericsson does not hold them to ransonm and for price reasons.
Huawei will offer you a cheaper price no matter what.
as for the quality, that one is another matter entirely.

Totally correct mbulela,as a matter of fact,it would have remained a straight fight between Motorola and Ericsson for Zain's market especially,but for the crashing of not just BTS,RF equipment etc prices by Huawei,but the chienese still crashed the prices for CW infrastructure.Like you said,the quality of their equipment is another thing

Presently engaged in the provision GSM and CDMA infrastructure,such as towers,RF and microwave antennae and cables,actual building of BTS ,MSC etc sites plus upgrades,VSAT and about to incoporate cellular network back hauling in conjunction with a Canadian company to provide support for GSM,CDMA,GPRS,EDGE,UMTS as well as combined 2G to 3.5G networks

sirwebs:
British Scot? Is that an official expression?

Sure man,from the latest edition of Rasputinn's NL advanced encyclopaedia 
Just kidding,I'm sure the original expression being in italics will readily answer your question

On the other hand,such a shame my man Rafa couldn't make it

Great showmanship your excellency

spoilt:
You dont want to be down town lagos when those so called masquerades are on the loose.
Those urchins will steal, whip and terrorize people trying to go about their business.

You mean eyo,oh how I hate those

mukina2 :
Is silvestre still dia

I wonder ooo,the other day somebody suggested we keep him to act as dressing room jester,but the problem is the guy is not even good at that, he's just too obsolete

~Sauron~:
Dayo, are u a stark illiterate?
Andy Murray is NOT English. . . . . .

Andy Murray is a British Scot,just like Alex Ferguson