₦airaland Forum

NOTICE IS HEREBY GIVEN that the 40th Annual General Meeting of Oando PLC will be held at The Akwa Ibom State Hall (Ibom Hall), Babangida Avenue, Uyo, Akwa Ibom State, Nigeria. on Monday September 11, 2017 at 10.00a.m



Visit https://firstregistrarsnigeria.com/wp-content/uploads/2015/06/Oando-PLC-2016-Annual-Report_FINAL.pdf to download the pdf version of the annual report 2016


Alternatively, you can Click Here to view the annual report with enhanced real book flipping effect.



Thank you

First Registrars and Investor Services Limited

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Why?

DIAMOND Bank Plc has achieved asset base of N2 trillion in the first half, H1 of 2017, while its profitability rose by 2.8 per cent during the period. The bank disclosed this in its H1 2017 financial results released on the floor of the Nigerian Stock Exchange (NSE) in Lagos.

The bank stated that its profit before tax rose by 2.8 per cent to N10.8 billion during the period, while its total asset grew by 0.8 per cent year-on-year to N2.065 trillion, making the bank one of the top six biggest banks in the country. The increased profitability and asset growth was driven by 16.1 growth in gross earnings which rose N114.1 billion while interest income also increased by 31.5 per cent to N89.1 billion. The bank however recorded 6.9 per cent in loss to bad loans (impairment), attributing this to continuation of prudent provisioning It stated that: “Despite the fact that loans to customers shrunk by 1.8 per cent from N1.4 trillion to N1.3 trillion, reflecting the cautious optimism employed by the management to manage and stabilise risk assets as the economy waddles through and out of recession, the Bank’s retail customers grew exponentially with over 6 million Diamond Y’ello customers opening accounts in the last two years. Managing Director/Chief Executive, Diamond Bank Plc, Mr. Uzoma Dozie, said that that despite the economic headwind, the bank would remain resilient and sustain the positive growth throughout the two remaining business quarters. According to him, the Bank’s strong liquidity and capital adequacy ratios plus its digital infrastructure have strengthened and rightly positioned it to meet customer obligations and offer service deliveries that are beyond banking, adding that the improving macroeconomic conditions will help stimulate and sustain the growth trajectory of the Bank.

(c) 2017 Vanguard Media Limited, Nigeria Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

This is to remind you of the forthcoming 47th Annual General Meeting of our dear company, CONOIL PLC, details of which are given below:



Date: FRIDAY, AUGUST 11, 2017



Time: 11.00 AM



Venue: LE MERIDIEN IBOM HOTEL & GOLF RESORT

UYO, AKWA IBOM STATE



Agenda:



1. To receive the report of the Directors and the statement of Financial position as at December 31, 2016

2. To declare a dividend

3. To elect and re-elect Directors

4. To fix the remuneration of the Directors

5. To authorize the Directors to fix the remuneration of the Auditors

6. To elect members of the Audit committee

The Nigerian All Share Index fell for the second straight day on Thursday to 1.6%. The stock market snapped a 5 day losing streak on Tuesday after shedding a thumping 2.6%. Nairametrics had published an article a day earlier listing out possible events that could bring back the bears. It appears though that one or more of these events are already spooking investors.

Why the market is falling

Drop in Oil price – Crude oil prices fell to their lowest in 7 months on Tuesday as traders fear an increase in supplies around the world. Crude Oil Brent price fell to $45.62. It fell further on Thursday to about $44.82. The recently signed 2017 Budget included a crude oil price benchmark of $44.5 an increase from the $42.5 oil price benchmark submitted by the presidency. Investors have one eye on these prices and worry that it could drop further as Nigeria and Libya ramp up their crude oil output. OPEC struck a deal to cut output effective next month but excluded Nigeria and Libya from cuts. A further drop in price could negatively impact on the country’s revenue projections for 2017.

External reserves – Nigeria’s recent external reserve position is also thought to have spooked some investors. Our reserves have fallen from about $30.9 billion in May 2017 to just above $30.2 billion as at June 21, 2017. A further drop in the external reserve position could trigger another round of depreciation of the Naira. Some analysts also opine that this may have contributed to the increase in OMO auctions embarked upon by the CBN. The CBN has been mopping up liquidity in the financial system believing that the fewer naira we have chasing dollars the better it is for our exchange rate management.

Etisalat – The latest exit of Etisalat UAE due to its failure to meet the obligations of a $1.2 billion loan deal may have also spooked investors. The 13 banks listed as obligors are some of Nigeria’s largest banks. Shares of GTB, Zenith, Access Bank all fell on Thursday.


Nigeria’s external debt profile – Investors are also somewhat spooked by the rising debt profile in Nigeria. The Federal Government has steadily increased local borrowings since 2015 owing the banking sector a combined N4.6 trillion. It also owes the Central Bank of Nigeria another N6.5 trillion. According to the DMO, Nigeria’s external loans were $13.8 billion as at March 31, 2017. In fact, in dollar terms Nigeria’s total public debt is estimated at about $62.8 billion.

While some of these concerns are valid, it may not at this stage materially cause a capital market crash, such as the one witnessed between 2014 – 2016. However, we still maintain that if a combination of the events listed in our Tuesday article does occur, we may be in for another long bearish run.

Ok

Hummm PDP and APC we no understand u guys

Hahaha My God!!

Hummmm, let our government do something to help our economy

Ok

Hummmm

Hummmm

What is the state of this nation. Hmmmmm

FP please

ok naa

@ OP No police station in Eke Nkpor ..... Hummmmm scam info

No be small thing

Ok ooooo

Senator Brambaifa, Ekiotene, 2,000 APC Members Defect to PDP, Articles | THISDAY LIVE

http://www.thisdaylive.com/articles/senator-brambaifa-ekiotene-2-000-apc-members-defect-to-pdp/224338/

More pictures sir

More pictures please

Getting serious every day, let Nigeria let them go on.... Hummmm am seeing war if......

Ok na

RIP

Thanks brother, I will give u a call

Please master, what is total cost of 05/06 Toyota corolla landing price with all duty paid.

Peter Obi didn't try this in his time in office.... Burning money like this.. Every day party government. Willi obiano