₦airaland Forum

OANDO!

This stock, if allowed the degrees of freedom worthy of the class it ought to belong to, should be heading to 750 Naira by the time the DEAL is sealed.

Helpout12345:
You may pay the fee with a money order, personal check, or cashier’s check.  When filing at a USCIS lockbox, you may also pay by credit card using Form G-1450, Authorization for Credit Card Transactions. If you pay by check, you must make your check payable to the U.S. Department of Homeland Security.

https://www.uscis.gov/i-140
https://www.uscis.gov/pay-with-a-credit-card

In summary, you pay with a US Bank personal check, cashier’s check, or credit cards, or a money order drawn from a US organization.

In practice, from Nigeria, if you are using an attorney, you give the government filling fee to the attorney and the attorney will use any of the acceptable forms to pay the USCIS. If you DIY from Nigeria, you will need someone in the US to help you buy money order or cashier’s check, or issue a personal US check, except you have a US bank account yourself.

Also, note from the second link attached that only US Bank issued credit cards are allowed.

Hello there, thanks for your help so far.
Could you please recommend a good but affordable lawyer.

Thank you.

The IB matter is very bad now.
The management is a set of straight-face clowns.
I doubt that any sane 'minority' shareholder bought the Right Issues. Why would they?
Now, the Parent Company owns more of the company shares even in percentage terms.
Are they trying to delist? At what price??

Nairaland.com
Hmmmm.

OoANDOo is a PLC.
It is not a ltd, sole proprietorship or a family business.
There are rules of engagement.
That being said, some posts have been flying around asking that the CEO of OoANDOo should please give the poster 20 naira so that he/she can run away.
Well, he or she is entitled to his or her wishes. Some people want 50, 100, 300 and 450. This is because different people bought the stock at different prices per share.

I think that OoANDOo will not delist. Instead, it might offer some right issues and cancel some shares.
What do I think OoANDOo CEO will do next...He will like some people to be posting on SM that they want 20 naira. That way his associates can keep mopping the shares at very low prices.

IB

Perspective on IB
Currently, the free float of the shares is less than the required minimum of 20 percent.
They promised to meet up with the requirements.
Question would be "How"?
Simple answer would be

1. Sell some of the shares being held by the parent company and directors...thus increasing free float

2. Right issues in which the parent company and directors will not pick their right issues so that the percentage holding of the parent company and directors can dilute.

Option 2 is more practical. Here, the question would be " what if other shareholders refused to pick the offers, thus maintaining the status quo in ownership in terns of percentage?
Answer would that the company would have considered this possible outcome. Solution is that there is already available new Comer who has guaranteed to pick all the right issues.
What this will do to IB stock is that it will help the company to achieve its planned meeting up with the free float requirements. It will also help the company to raise new capital. It will improve share liquidity. It also ushers in new majority shareholders thus improving board decisions and overall management constitution.

There has been a lot of interest in OANDO recently.
A lot of people have been very negative about the stock....using Wale as a boogeyman to force minority shareholders to sell the units they currently possess.

If Oando really wants to delist...they surely will. However, this business is capital intensive with loans secured with consortium of Banks.

Will Oando really want to go private? Will their workers who probably hold few shares in the company be motivated after the delisting?

What of the community goodwill?

On OANDO,
The explanation notes on the upstream details that the value of the oil reserve is dependent on new information, price of product among other factors.
What does this mean?
Crude in the ground is ascertained by information gotten by more drilling etc. Also, the price of the product in the market matters. The asset of the company is therefore not fixed. It is a variable.
The question is : is the asset in Sept 2023 same as Dec 2021?

AGIP owned 20% of the JV that they were operating. Oando owned 20%. NNPCL owned the remaining.
AGIP decided to exit the JV. Could it mean that NNPCL was unaware that AGIP was transferring the operatorship and ownership of AGIP's ownership to OANDO? Most likely not. What then is the purpose of the letter by the NNPCL? Is it not the same NNPCL that OANDO sold their filling stations to in a midnight deal without informing anyone?
The letter is just funny. Wait for their denial soon. Bunch of....

I am heavy in IB at the moment. It constitutes about 45% of my portfolio.
While the company has good future, the current situation is concerning.
I am not exactly worried. However, I think that the company should change its directors.

YoungBuffet:
Pls hold your stocks ooo
GTB to 79
Zenith 66
Access 59
Uba 50
Fidelity 35
Fcmb 25
MTN 560
Flourmi 75
Sterling bank 25
DSR 75
Nascon 60
Nestle 5,000
Ftn 30
Dangcem 650

I will update later.

🤣🤣🤣
FBNH is conveniently missing on this your list.

7000 pages and counting ...God is good.

Dividend, courtesy GTCo has landed.

Adidee:
Yes
You ought to have received a receipt number, and have your priority date by now. Which address did you specify? I think it’s usually sent by post.

I used my home address in Nigeria.
Anyone with similar situation?

Good day everyone.

I sent out my I140 with NIW (EB2 Visa) application via DHL in December.
Till now, I have not received a response.
I read somewhere that there should be a receipt number. I did not receive any receipt number.
Could you kind people put me through on how this works.

Thank you.

7david7:
ok, I'll do that, hopefully this works. I'm exhausted already trying different things, if me the caregiver is getting exhausted, I can only imagine how he feels. I won't give up on him...thank u for ur contribution, I appreciate.

Please don't bath him in any salt water o. It is extremely dangerous

Lion123:
Oando shareholders need to reject this attempt of rape. What is N7? So the people who bought at above N15 many years ago and held in hopes of a turnaround will be left with nothing but their dick in their hands? This is why I always advise people to never do long term investment in Nigerian stocks. Get in, have a short-term horizon to make like 20 or 30%, and then run away.

If the OANDO shareholders allow this nonsense, then nobody might be interested in stock investment in Nigeria any longer.
The reason is obvious.
What will stop any majority stock shareholder from bribing some hungry investor, manipulate the court-ordered meeting etc and then buy other shareholders out for a cent on the dollars. That is simply broad day robbery, just because they can do it.

NotsonewMary:
The format is by writing a letter, usually called a petition letter to USCIS.
Highlighting everything that @helpout mentioned and all that we’ve been discussing in previous pages of this post. You’ll also need to attach copies of evidences of your documented achievements usually referred to as exhibits. There’s also a form to go along with your letter, that’s the Form I-140.

Helpout12345:
Proposed endeavor is just your field of expertise where you claim to have exceptional abilities or advanced degree.

1. The person’s proposed endeavor has both substantial merit and national importance;

This means your field of expertise meets the requirements of 2A - Advanced Degree or 2B - Exceptional abilities. And it's of national importance. E.g. an oil and gas engineer is of national importance because of the national needs of energy. A medical surgeon is of national importance because of health of the people. Etc.

2. The person is well positioned to advance the proposed endeavor;

You are still able to continue to practice in your field of expertise. If you are close to retirement, or no longer good in your field, you will not make this.

3. On balance, it would be beneficial to the United States to waive the job offer and thus the permanent labor certification requirement.

It's beneficial for the US to have people of your expertise now and in future. If your expertise is already obsolete, no need to have you.

Thanks for the responses.
Please, are recommendation letters also mandatory??

Good morning everyone.
Please I need more clarity.
Do we need to write the ' Proposed Endeavor ' ?
What is the format? Is it a form to fill??

What if the boy knew something they are not saying...like what if the queen is not really dead...
They just needed to pass on the stool to the son...

Helpout12345:
You may pay the fee with a money order, personal check, or cashier’s check.  When filing at a USCIS lockbox, you may also pay by credit card using Form G-1450, Authorization for Credit Card Transactions. If you pay by check, you must make your check payable to the U.S. Department of Homeland Security.

https://www.uscis.gov/i-140
https://www.uscis.gov/pay-with-a-credit-card

In summary, you pay with a US Bank personal check, cashier’s check, or credit cards, or a money order drawn from a US organization.

In practice, from Nigeria, if you are using an attorney, you give the government filling fee to the attorney and the attorney will use any of the acceptable forms to pay the USCIS. If you DIY from Nigeria, you will need someone in the US to help you buy money order or cashier’s check, or issue a personal US check, except you have a US bank account yourself.

Also, note from the second link attached that only US Bank issued credit cards are allowed.

Thanks. Excellent. This is very helpful

Please Help with the following question

How can one make payment for the I140 form processing from Nigeria?

Thanks

If the daughter gets healed 'miraculously' (the kind they usually share in the churches ), it would be alright to think that they got another 'donor'.
People should watch the movie "The marked heart" on Netflix.

robobo:
This would definitely be setting a bad precedent in the country.

So Unilever International being the majority holder of Unilever Nigeria can just get some ragtag shareholders together to get a court judgement to buy other minority shareholders out because the ragtag investors believe that best suited THERE own interest.

if not for the fact that SEC/NSE are already compromised they should just throw the issue out and not entertain it at all.

Like you rightly said the right thing for any shareholder that is not happy with the current state of things is to sell his shares on the floor of stock exchange and not approach a court to be bought out then also request the court to also mandate that all other minority shareholders that have nothing to do with him (and his desire) should also be bought out

It will not augur well for the stock market in Nigeria. This is impunity/sale of justice in its purest form.
If OODP of OANDO have their way, if it were to be another country, their business may be ..... to the ground o....
This is stealing from every other person that has put their hard earned money into the business over the years.

That they even considered this shows that OODP/Tinubu are less than human and no one should have nothing to do with these blood suckers. Their business should not exist any more. They are not fit to exist as business.

OODP of OANDO trying to forcefully take over other shareholders shares would be tantamount to Otedola asking court to force the other shareholders in FBNH to sell their shares to him.

If the court was presided by rational beings, they would have asked the 14 shareholders to go ahead to sell their own shares. Is that not what the stock exchange is meant for? Why joining others to your own desire to sell? Do we not have freedom to buy and sell?
If OODP want to buy more of OANDO shares, let them buy on the stock exchange!!!

Apparently, 14 minority shareholders petitioned the court asking that OANDO to buy the entire 43% shares of OANDO belonging to thousands of minority shareholders. How stupid could things really get?? And the so called court agreed. If at all the remaining thousands of shareholders agree to this forceful takeover, will they pay the highest share price that OANDO ever recorded??

The Unipolar world economic order is being tested rigorously as we speak.
At best, the world has slided to pre-90s in terms of world economic hegemony. Russia is not really perturbed by US. Their balance of trade is superb. China is solid. Even India is flexing. USA's power is eroding quickly. Britain is playing catch-up.

Welcome to the new multipolar world order. This world order will also not last long before a true New World Order emerges. This ultimate world order will not be bounded by state borders. Mankind seems to be at war.

RabbiDoracle:
On rate hike

In the past when US raises rates, it tends to draw funds out of Emerging Markets (EMs) and send them to Developed Markets (DMs). Now with US seizing afghan funds first, then Russia, everything has changed. In the past that rate hike will draw funds into US bonds as sovereigns and investors buy their bonds and invest in their stock market. Now there is fear because what happened to Russia can happen to any country. Their central banks' funds can easily be seized.

In the end, US rate hike will only blow their economy and that of EU as more people take up debts to survive and at a higher interest rate too. This rate hike will cause businesses that were once operating at low interest rate environment to be struggling with high interest rates.

And with higher commodities prices, they will be paying higher on everything because they use debt for finance their living. At a point, it blows up the consumer and US goes into depression.

And China is just using tackling-covid-cases strategy to stop sending goods to them and this will further exacerbate the inflation there as more people rush for the limited goods available. They can't survive high inflation with huge debt load plus rising interest rates.

That is why the Fed is between the wall and the wallpaper in that :

(1) they continue to hike rates, they crush the consumers the more and kill businesses. And this collapses the spending habits of ordinary Americans as they grapple with hunger, higher energy cost and social unrest.

(2) they abandon the rate hike and start to cut rates instead and give out stimulus checks again. And this will create an increased money supply further causing more rush for available goods and services (presuming that China continues to restrict the supply of goods). This causes hyperinflation in no time.

Only China has the tuber of yam and the knife in this case. US seems relegated.

"The supreme art of war is to subdue the enemy without fighting." ~Sun Tzu, The Art of War

Absolutely. The inevitable.

3 Reasons Why Countries Devalue Their Currency
By ADAM HAYES Updated July 06, 2019
With a potential outbreak of a trade war between China and the US, talks of the Chinese using currency devaluation as a strategy have been rumbling. However, the volatility and risks involved may not make it worth it this time, as China has made recent efforts to stabilize and globalize the Yuan.

In the past, the Chinese denied it, but the second largest economy in the world has time and time again been accused of devaluing its currency in order to advantage its own economy, especially by Donald Trump. The ironic thing is that for many years, the United States government had been pressuring the Chinese to devalue the Yuan, arguing that it gave them an unfair advantage in international trade and kept their prices for capital and labor artificially low.


Ever since world currencies abandoned the gold standard and allowed their exchange rates to float freely against each other, there have been many currency devaluation events that have hurt not only the citizens of the country involved but have also rippled across the globe. If the fallout can be so widespread, why do countries devalue their currency?

KEY TAKEAWAYS
Currency devaluation involves taking measures to strategically lower the purchasing power of a nation's own currency.
Countries may pursue such a strategy to gain a competitive edge in global trade and reduce sovereign debt burdens.
Devaluation, however, can have unintended consequences that are self-defeating.
Devaluing Currency
It may seem counter-intuitive, but a strong currency is not necessarily in a nation's best interests. A weak domestic currency makes a nation's exports more competitive in global markets, and simultaneously makes imports more expensive. Higher export volumes spur economic growth, while pricey imports also have a similar effect because consumers opt for local alternatives to imported products. This improvement in the terms of trade generally translates into a lower current account deficit (or a greater current account surplus), higher employment, and faster GDP growth. The stimulative monetary policies that usually result in a weak currency also have a positive impact on the nation's capital and housing markets, which in turn boosts domestic consumption through the wealth effect.


It is worth noting that a strategic currency devaluation does not always work, and moreover may lead to a 'currency war' between nations. Competitive devaluation is a specific scenario in which one nation matches an abrupt national currency devaluation with another currency devaluation. In other words, one nation is matched by a currency devaluation of another. This occurs more frequently when both currencies have managed exchange-rate regimes rather than market-determined floating exchange rates. Even if a currency war does not break out, a country should be wary about the negatives of currency devaluation. Currency devaluation may lower productivity, since imports of capital equipment and machinery may become too expensive. Devaluation also significantly reduces the overseas purchasing power of a nation’s citizens.


Below, we look at the three top reasons why a country would pursue a policy of devaluation:

1. To Boost Exports
On a world market, goods from one country must compete with those from all other countries. Car makers in America must compete with car makers in Europe and Japan. If the value of the euro decreases against the dollar, the price of the cars sold by European manufacturers in America, in dollars, will be effectively less expensive than they were before. On the other hand, a more valuable currency make exports relatively more expensive for purchase in foreign markets.

In other words, exporters become more competitive in a global market. Exports are encouraged while imports are discouraged. There should be some caution, however, for two reasons. First, as the demand for a country's exported goods increases worldwide, the price will begin to rise, normalizing the initial effect of the devaluation. The second is that as other countries see this effect at work, they will be incentivized to devalue their own currencies in kind in a so-called "race to the bottom." This can lead to tit for tat currency wars and lead to unchecked inflation.

2. To Shrink Trade Deficits
Exports will increase and imports will decrease due to exports becoming cheaper and imports more expensive. This favors an improved balance of payments as exports increase and imports decrease, shrinking trade deficits. Persistent deficits are not uncommon today, with the United States and many other nations running persistent imbalances year after year. Economic theory, however, states that ongoing deficits are unsustainable in the long run and can lead to dangerous levels of debt which can cripple an economy. Devaluing the home currency can help correct balance of payments and reduce these deficits.


There is a potential downside to this rationale, however. Devaluation also increases the debt burden of foreign-denominated loans when priced in the home currency. This is a big problem for a developing country like India or Argentina which hold lots of dollar- and euro-denominated debt. These foreign debts become more difficult to service, reducing confidence among the people in their domestic currency.

3. To Reduce Sovereign Debt Burdens
A government may be incentivized to encourage a weak currency policy if it has a lot of government-issued sovereign debt to service on a regular basis. If debt payments are fixed, a weaker currency makes these payments effectively less expensive over time.

Take for example a government who has to pay $1 million each month in interest payments on its outstanding debts. But if that same $1 million of notional payments becomes less valuable, it will be easier to cover that interest. In our example, if the domestic currency is devalued to half of its initial value, the $1 million debt payment will only be worth $500,000 now.

Again, this tactic should be used with caution. As most countries around the globe have some debt outstanding in one form or another, a race to the bottom currency war could be initiated. This tactic will also fail if the country in question holds a large number of foreign bonds since it will make those interest payments relatively more costly.


The Bottom Line
Currency devaluations can be used by countries to achieve economic policy. Having a weaker currency relative to the rest of the world can help boost exports, shrink trade deficits and reduce the cost of interest payments on its outstanding government debts. There are, however, some negative effects of devaluations. They create uncertainty in global markets that can cause asset markets to fall or spur recessions. Countries might be tempted to enter a tit for tat currency war, devaluing their own currency back and forth in a race to the bottom. This can be a very dangerous and vicious cycle leading to much more harm than good.

Devaluing a currency, however, does not always lead to its intended benefits. Brazil is a case in point. The Brazilian real has plunged substantially since 2011, but the steep currency devaluation has been unable to offset other problems such as plunging crude oil and commodity prices, and a widening corruption scandal. As a result, the Brazilian economy has experienced sluggish growth.

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Related Terms
What Is Competitive Devaluation?
Competitive devaluation is a series of currency depreciation that nations resort to in tit-for-tat moves to gain an edge in international export markets. more
Trade War
A trade war arises when one country retaliates against another by raising import tariffs or placing other restrictions on the other country's imports. more
Understanding Devaluation, the Causes, and the Downsides.
Devaluation is the deliberate downward adjustment to the value of a country's currency relative to another currency, group of currencies, or standard. more
Beggar-Thy-Neighbor Definition
Beggar-thy-neighbor is a term for policies that a country enacts to address its economic woes that worsen the economic problems of other countries. more
What Is the Net Exports Formula?
A nation's net exports are the value of its total exports minus the value of its total imports. The figure also is called the balance of trade. more
Sovereign Risk
Sovereign risk is the risk that a foreign government will default on their bonds or impose foreign exchange regulations that harm FX contracts' value.

Source: Investopedia