₦airaland Forum

megawealth01:
My UNITY BANK and STERLING BANK na maybe they will add Nigeria Police Bank

Sterling bank paid dividend so they might have resolve theirs especially with their capital raise through private placement and right issue.

Agbalowomeri:
The bull wey dey come go swallow everybody
Nobody should be in a hurry to sell till January

Thank you Sir. You are a highly valuable member of this group.

yMcy56:
Who is this hefty guy in CWG?
Is the company planning something?
Although at some point, I'm expecting bonus issue here anyway...

Meanwhile, Oando inching back up gradually..... @66.35 as at now...

CWG will be a goldmine. Their profit growth coupled with their GMD's statement during their last AGM where he stated that they have passed the era of 50℅ year on year profit increase and now in the era of 100℅ year on year increase is a green flag. Time shall tell.

Not always the case. Jaiz bank has over 44billion shares and was stagnant at 70k for a long time. Today it is ₦3 even after a placement that will see its outstanding shares increase.

Most of these banks are doing placement hence these shares may not be traded on the floor of the exchange. Also, the rights are being picked up mostly by majority share holders. Don't forget WEMA did a right issue at ₦4 in December 2023 and investors ran away from it thinking of the past experience on reconstruction. Today it is over N10. Fidelity raised some capital earlier and today it is over ₦17. Banks EPS will grow as there are a lot of investments the bank can care advantage of with these capital being raised. Just watch, you will be amazed at the profit they will declare going forward.

Take note that EPS will not be badly affected. In fact, it will increase. Banks have perfected the act of making money.

HesInMe:
I've said it before: I'm shocked at how investors are still buying bank shares in this recapitalization period. Except for maybe Access, which has a clear need for cash as it gobbles up assets at home and abroad, what magic are the banks going to do with all that new money and all those dividend-hungry shares in the short term?

Naija maths dey different sha.

Please is there any builder/engineer in Jos? I need one for my building project.

Good day house, will coupon for 2034 FGN Bond be paid tomorrow as it is the first coupon?

Akerewe:
How far about you migration of your holdings to CSCS?


It should be easier because I have done d same after the last time we spoke

I have not been able to do it. I don't know how to go about it and my broker is not knowledgeable in it.

BabsO2:
However note. The only risk I see of a bank or broker holding the bonds on one's behalf is the bonds are in their name (and they managed it as a mini fund sort of). Thus it's good to buy through a reputable broker or solid bank and not one that can fold up. Also one needs to keep his or her records for proof purposes.

Thank you Sir. I will go by this. I currently use Access Bank which is one of the biggest and best

emmanuelewumi:
How does your dividend come? Is it through the bank or CSCS ?


Bonds bought by your stockbroker on the floor of NGX will show in your CSCS. Bond bought through the bank but you have written for it to be migrated to CSCS will also show in your CSCS statement

Thank you So much Sir. I am grateful Sir

BabsO2:
Note: There is a poor market for bonds through CSCS. But through the bank holding it there is a good market. This note is needed if one changes mind and need to sell in future.

Also CSCS held bond do suffer prompt coupon payment sometimes and one may have to go back and forth to claim missed coupons.

At expiration redemption one needs to complete forms for CSCS held bonds. Unlike bank held bonds that doesn't entail such stress.

These were my experiences with CSCS held bonds. Perhaps things might improve over time. These issues make me to prefer bank managed bonds.

Thank you so much Sir. This has made my day and it's convincing Enough. I have decided to leave it with my brokers. Thank you so much Sir. I appreciate you greatly

emmanuelewumi:
I don't think there is a custody fee.


I only wrote a letter to CSCS through my stockbroker that my bond should be migrated from the custody of the bank to CSCS

But please Sir, how do your coupon comes. Is it through the bank or CSCS? Banks normally deduct some charges when coupon drops. Does CSCS do same or they settle the complete amount?

Also Sir, do you see your bond on your stock broker's dashboard. Please guide me Sir. Thank you Sir

emmanuelewumi:
That was on the 8th of February 2024

Sir, please what do CSCS charge as custody fee for FGN bonds moved from my bank to my CSCS. Are there other charges Sir? Thank you Sir

Akerewe:
They are the only pple that can help u oo because they are the custodian of ur portfolio.

Alternatively, u can mail cscs and complain to them about ur desire to see ur fgn bond display on ur cscs dashboard. I believe they would assist you.

contact@cscs.ng

contact cscs with the above email

But if I may ask, y do u want to move it to cscs? Any advantage?

Very many thanks.

I want to move it to CSCS because of the custody fee. My bank custodians are changing me too much and I believe moving it to them will eliminate the custody fee. I don't know what CSCS will charge me but I believe it will not be as figh as the custodians.

Kindly advice if I am making a mistake.

manwomanok:
Useless cscs, they will never reply

Very many thanks.

I want to move it to CSCS because of the custody fee. My bank custodians are changing me too much and I believe moving it to them will eliminate the custody fee. I don't know what CSCS will charge me but I believe it will not be as figh as the custodians.

Kindly advice if I am making a mistake.

Akerewe:
Talk to ur stockbroker about it, u will b advice accordingly

Thanks for your reply. I spoke to them but they don't even understand it. They said they are not used to it. Please guide me on how to follow up with them.

Please 🙏 great members, how can I move my FGN bond from my bank to my CSCS account? Also, will it result to double annual charges (From bank Custodian and CSCS).

Please kindly advice

Princkez:
just received mine

Please Which bank are you using?