₦airaland Forum

Biafran4life:
This guys are doing money doubling

Are you a shareholder of Okomu Oil plc?

emmanuelewumi:
Good one from Okomu Oil

Why Okomu Oilplc plc is on gradually movement away from reach

emmanuelewumi:
MTN dividend has dropped

When is interim dividend

How are you Aunty Mcy?

Long time Ma'am

Hope your good.

moneymanager:
Okay. Thanks sir
Erm...do you have a guesstimate/speculation as to what’s likely to happen afterwards

The only similar info I got from guyzs was to stay away from Access in particular and that it seems a large degree of the funds leaving GTB is foreign

Again not my opinion

......fingers crossed for now.

What's wrong with Access please ?

moneymanager:
Since last week Wednesday GTB has been stuck on 28.40 naira but the difference was Access and Zenith weren’t falling also

Is something going on here

We wait for the analysts and awon e ku market and killing with laughter etc people

Consolidation ongoing

Tvegas:
This Christmas has been coming since February when there was "fire in katanga " according to a brother here. In my view no one can truly time this market. Just buy in tranches.

I don't see any sudden drop in the market any time soon. A good 2nd and 3rd quarter results will inflate the market further.

On a neutral note, insider sources tells me Zenith is poise to surpass last year results. This is Probably why its been resisting a drop.

Very likely Zenith will do better than last year.

Investors are wiser now.

.....will keep hoping for a little drop in price soon.

Lovinwa:
Good evening all, i want to open an account with Morgan. Will i be able to sell the stock I bought with United Capital on Morgan's platform if I use the same CHN. I'm really tired of UCAP, I've been unable to have access to their online trading for more than one month. I have a couple of shares there which I want to move to Morgan, is this possible?

...most times, is not easy to move shares from one broker to another.

Just start buying more stocks from your preferred broker and get your shares edividend mandate.

phazotron:
Best strategy na to buy back the shares from the investors

Buy them out of the company or buy most of their shares back

Like Dangote Company Limited buying back shares of Dangote Cement Plc

Wapgod:
I got this email from Africa Prudentials as a reply to the online e-dividend mandate form i filled on their website.
What is this transfer form and its function and is it necessary for me to get it for me to receive dividends into my bank account?
Also hope it is not a shares transfer form as i do not intend to transfer my shares to anybody.
I would be grateful if someone can help me out with this.


Dear <myname>
Thank you for your patience thus far.
Kindly be informed that we have begun the processing of your mandate.
Please note that mandate will be effected before the close of business, next week Wednesday.
​
** Kindly be informed that we do not have your specimen signature in our record to verify authenticity of the request. Please inform your stockbroker to process your transfer form through CSCS.

Warm regards.

Just do as they told you. Inform your stockbroker and sign your signature in the form, which your stockbroker will submit to cscs for onward transmission to your registrar.

Fear not.....it's the requirement which all of us have done long time ago to get our dividends

nna777:
M & B just landed

Keep it up

yMcy56:
BUACEMENT:
Revised Corporate Action .........
Dividend: N2.067
Final Qualification Date has been moved forward to June 18, 2021.......(was formerly July).

NEM:
Dividend of 0.09k
Qualification Date: June 4, 2021
Share reconstruction of 2:1 coming up.....i.e. if you have 1M units, it will become 500k ......and...
Nominal Value raised from 50kobo to N1.......meaning The price will also double alongside share reconstruction.......(nothing to lose here I blvd).

**This thread is now super silent**

This NEM people, so many Constructions and Reconstructions. Hope there will be no Demolitions one day.

Agbalowomeri:
Una wehdon o
Still munching my garri
No loot to buy kulikuli
Make this election come jare make boys plant bottles for FPIs

onegentleguy:
Sir Doc pls kindly surf through my past post on UPDC. ...u'll sure get enough guide therein.

Ur last sentence is something I already adviced, if it'll be possible. Because an MTO would ordinarily not allow for that. That's why it's called a mandatory take over.(MTO)
Let's wait and see if there'll be room for that.

But if as an investor one can explore that option, then I'll strongly advice them to go for it!
Especially if they hold a mid to long term investing mindset.

Regards

Thank you Sir

yMcy56:
Support has formed @22.95 and resistance has formed @23 for quite some days.........more pressure at that junction.
Let's hope there'll be some more good news to allow Zenith and others break the resistance and move up........
The kind of money picking @23 though..........one 5M bulk unit was picked once........alongside several others...........bargain hunters like Peter must be getting frustrated at their various low junctions.........
We see what coming days will be like.......Let's just hope for more good news...

FCMB has been doing great anyway.......defending the share price, the MM has always been superb.......

Dangsugar is trying to lift body........sighted @17.50 but no 100k block to move the price....

Consolidation ongoing

locodemy:
Long term holders should avoid stocks surrounded by short term traders especially day traders.Such stocks fluctuates easily and make people to loose interest but day traders enjoy it most because it responds to their actions.

Dividend paying stocks/growth stocks should be the target of long termers.

Month of June is a technical month.Traders will benefit most.

Very true Sir Locodemy

Am a long-termer

Locodemy, hope you have seen Japaulgold result.

Let be careful with some of these funny coys in NSE

@Onegentleguy, your take on UPDC custodian MTO...please

Don't want to sell,my refers to hold even taken taken private by custodian management

RayRay06677:
So many Nigerians are living better with the 50k and as a matter of fact some are even living with scalar source of income (street). So many are living poorly with 1m naira income monthly, seen them all. 2 of my close associates are civil servants on salary less than 150k per month but are currently building and some of my colleagues are earning minimum of 30m annually but still renting houses after 15yrs of service.

In summary, man know thyself and fit thyself, no straight rule. Testimony time, I built my first house when I was earning no known salary, infact I rejected some jobs because I knew I was better off on the streets picking than allowing people assume I am working. The same beer you drink at 2k a bottle, we drink at 300 naira a bottle and even justify why palmy is better than moet. life na choice, choose wisely.
The more money you have, the more problem you accept. I drive a car that immediately I drive into workshop, I pay 15k consultation/inspection fee on top any other fee I will pay, changing of oil runs to over 75k and so on, my civil servant friend changes his oil with less than 10k. las las I may end up poorer. what matters is not what comes or goes out but what is retained and invested.

Income of 1m with expenditure of 950k versus income of 300k with expenditure of 150k, at retirement, Mr 300k will be richer and wiser.

Well said

Thanks

ojesymsym:
If you do a little research on the palm tree you will be amazed at the value that tree has. Most people only know about palm oil, but that is not even where the money is from what I was able to gather.

The palm kernel oil is actually a more sought after product by many industries because it is the major component of may beauty products, pharmaceutical and that oil we call vegetable oil is actually from palm kernel oil. Then there is palm kernel cake for feedstock for animals.

In short, no part of the palm tree is wasted because even the leaves are used to make brooms while the sap from is what is used to make palm wine.

Nigerians really need to understand that God has blessed us already. Crude oil is supposed to just be an addon and not the major operating system.

Like reading your insightful comments here

Weldone Sir

onegentleguy:
Good that some of u are beginning to see the light now.
...u were among those who initially had doubt.
I remember when I raised the worry on UBA following their H2 2020 report.
Refer to the post above and the links herein...(https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/5967#93706160
https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/5966#93702755)

For us, ACCESS overtook UBA when I wrote this article... https://www.booksie.com/604507-p2p-analysis-weighing-in-on-the-value-accretion-between-access-bank-uba

ACCESS is grossly undervalued!
At the current mkt price, UBA is also underpriced albiet slightly. That said, an investor will need to be at alert because the management of the bank is playing pranks. (there are clear reasons to believe this looking at the Nos in their FP... particularly in the last 3 quaters)
H2 2021 report will help us nail down a confirmation.

Selah

Thanks always

CBN GOVERNOR’S STATEMENT ON THE PURPORTED MANAGEMENT CHANGE AT THE FIRST BANK OF NIGERIA LTD

1.0 Good afternoon ladies and gentlemen.

2.0 The media has been awash with commentaries on the purported management changes at First Bank of Nigeria Ltd (FBN) and the related regulatory inquiry by the Central Bank of Nigeria (CBN) to the Board of First Bank of Nigeria Limited. It has therefore become necessary for me to address the public to clear any misconceptions.

3.0 Ordinarily the board is vested with the authority to make changes in the management team subject to CBN approval. However, the CBN considers itself a key stakeholder in management changes involving FBN due to the forbearances and close monitoring by the Bank over the last 5 years aimed at stemming the slide in the going concern status of the bank. It was therefore surprising for the CBN to learn through media reports that the board of directors of FBN, a systemically important bank under regulatory forbearance regime had effected sweeping changes in executive management without engagement and/or prior notice to the regulatory authorities. The action by the board of FBN sends a negative signal to the market on the stability of leadership on the board and management and it is in light of the foregoing that the CBN queried the board of directors on the unfortunate developments at the bank.

4.0 As you may be aware, FBN is one of the systemically important banks in the Nigerian banking sector given its historical significance, balance sheet size, large customer base and high level of interconnectedness with other financial service providers, amongst others. By our last assessment, FBN has over 31m customers, with deposit base of N4.2trn, shareholders funds of N618bn and NIBSS instant payment (NIP) processing capacity of 22% of the industry. To us at the CBN, not only is it imperative to protect the minority shareholders, that have no voice to air their views, also important, is the protection of the over 31m customers of the bank who see FBN as a safe haven for their hard-earned savings.

5.0 The bank maintained healthy operations up until 2016 financial year when the CBN’s target examination revealed that the bank was in grave financial condition with its capital adequacy ratio (CAR) and non-performing loans ratio (NPL) substantially breaching acceptable prudential standards.

6.0 The problems at the bank were attributed to bad credit decisions, significant and non-performing insider loans and poor corporate governance practices. The shareholders of the bank and FBN Holding Plc also lacked the capacity to recapitalize the bank to minimum requirements. This conclusions arose from various entreaties by the CBN to them to recapitalize.

7.0 The CBN stepped in to stabilize the bank in its quest to maintain financial stability, especially given FBN’s systemic importance as enumerated earlier. Regulatory action taken by the CBN in this regard included:

i. Change of management team under the CBN’s supervision with the appointment of a new Managing Director/ Chief Executive Office in January 2016.

ii. Grant of the regulatory forbearances to enable the bank work out its non-performing loans through provision for write off of at least N150b from its earning for four consecutive years.

iii. Grant of concession to insider borrower to restructure their non-performing credit facilities under very stringent conditions

iv. Renewal of the forbearances on a yearly basis between 2016 and 2020 following thorough monitoring of progress towards exiting from the forbearance measures

8.0 The measures had yielded the expected results as the financial condition of FBN improved progressively between 2016 when the forbearance was initially granted to the current financial year. For instance, profitability, liquidity and CAR improved whilst NPL reduced significantly.

9.0 Notwithstanding the significant improvement in the bank’s financial condition with positive trajectory of financial soundness indicators, the insider related facilities remained problematic.

10.0 The insiders who took loans in the bank, with controlling influence on the board of directors, failed to adhere to the terms for the restructuring of their credit facilities which contributed to the poor financial state of the bank. The CBN’s recent target examination as at December 31, 2020 revealed that insider loans were materially non-compliant with restructure terms (e.g. non perfection of lien on shares/collateral arrangements) for over 3 years despite several regulatory reminders. The bank has not also divested its non-permissible holdings in non-financial entities in line with regulatory directives

11.0 Following further review of the situation and in order to preserve stability of the bank, so as to protect minority shareholders and depositors, the Management of the CBN in line with its powers under BOFIA 2020 has approved and hereby directs:

i. Immediate removal of the all directors of FBN Ltd and FBN Holdings Plc

ii. The appointment of the following persons as directors in FBN Ltd and FBN Holdings Plc

Holdco

1.Chairman – Remi Babalola

2.Dr. Fatade Abiodun Oluwole

3.Kofo Dosekun

4.Remi Lasaki

5.Dr Alimi Abdulrasaq

6.Ahmed Modibbo

7.Khalifa Imam

8.Sir Peter Aliogo

9.UK Eke – Managing Director

Bank

1. Chairman – Tunde Hassan-Odukale

2. Tokunbo Martins

3. Uche Nwokedi

4. Adekunle Sonola

5. Isioma Ogodazi

6. Ebenezer Olufowose

7. Ishaya Elijah B. Dodo

8. Sola Adeduntan – Managing Director

9. Gbenga Shobo – Deputy Managing Director

10. Remi Oni – Executive Director

11. Abdullahi Ibrahim – Executive Director

12.0 The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensure the stability of the financial system. There is therefore no cause for panic amongst the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant.


@mycf

samguru:
NSE may also place First Bank on Technical suspension

Why?

Don't think it will get to that level

.....is possible sha oo

PETERiCHY:
FBNH will RETEST N3 junction like it did 5ys ago.

BARGAIN HUNTERS TAKE NOTE!

If the interim management come chop and go, expect FBNH to trade at N2 range for a long time

Where will Baba get the N80 billion NPL from to pay back to FBN ?

samguru:
Safe the bank kee?
Those interim board members will come,chop and go at the end they will come up with useful report that first bank is distressed and CBN will come in as usual to bail it out.

Access bank and zenith bank, CBN is preparing your meal ooo

Access and Zenith are still better than UBA........if you know you know

yMcy56:
What's the implication(s) of the sack?
Is it not to save the bank?
Just asking cos I don't know ni.

This market self....one will just wake up to one somehow news........what about those accumulating the stock @7.40?
This is just not right.....

Many unseen cockcroaches in FBNH will start flying out soonest

What was the motive of buying FBNH at N7.40 when you know the exposure of upto N80 billion grandpapa loan took that is being restructured every quarter without collaterals.

FBN is an important systemic financial institution in Nigeria, any stories of the bank collapse will lead to several Nigerian citizens dieing before their time

This measure by CBN to FBNH is late self , but still better than more damages

samguru:
How far

Badt guy.....Loooooool

yMcy56:
https://doclib.ngxgroup.com/Financial_NewsDocs/33211_ETERNA_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR_2021_.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33210_VITAFOAM_NIG_PLC%20_QUARTER_2_%20_FINANCIAL_STATEMENT_FOR.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33206_BUA_CEMENT_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR_20.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33204_UAC__OF_NIGERIA_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33203_FBN_HOLDINGS_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR_.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33202_NEM_INSURANCE_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FO.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33201_LINKAGE_ASSURANCE_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33200_TOTAL_NIGERIA_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FO.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33199_DANGOTE_SUGAR_REFINERY_PLC%20_QUARTER_1_%20_FINANCIAL_STAT.pdf
https://doclib.ngxgroup.com/Financial_NewsDocs/33198_GUINNESS_NIG_PLC%20_QUARTER_3_%20_FINANCIAL_STATEMENT_FOR_.pdf

Where is ZENITH BANK

currentprice:
https://doclib.ngxgroup.com/Financial_NewsDocs/33204_UAC__OF_NIGERIA_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_.pdf

I no fit talk

currentprice:
https://doclib.ngxgroup.com/Financial_NewsDocs/33209_OKOMU_OIL_PALM_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_F.pdf

see better company

Km 400 is possible in long term

currentprice:
https://doclib.ngxgroup.com/Financial_NewsDocs/33210_VITAFOAM_NIG_PLC%20_QUARTER_2_%20_FINANCIAL_STATEMENT_FOR.pdf

Minting money from matrass

Doubt any pullbacks here oo

yMcy56:
ACCESS Q1 don land........
A good result.....
cc: @onegentleguy
https://doclib.ngxgroup.com/Financial_NewsDocs/33197_ACCESS_BANK_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR_.pdf

UNION BANK Q1
https://doclib.ngxgroup.com/Financial_NewsDocs/33196_UNION_BANK_OF_NIGERIA_PLC%20_QUARTER_1_%20_FINANCIAL_STATE.pdf

FCMB Q1
https://doclib.ngxgroup.com/Financial_NewsDocs/33188_FCMB_GROUP_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR_20.pdf

PRESTIGE Q1
https://doclib.ngxgroup.com/Financial_NewsDocs/33193_PRESTIGE_ASSURANCE_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMEN.pdf

WAPCO LAFARGE Q1
https://doclib.ngxgroup.com/Financial_NewsDocs/33190_LAFARGE_AFRICA_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_F.pdf

CHAMPION BREWERIES
https://doclib.ngxgroup.com/Financial_NewsDocs/33187_CHAMPION_BREW_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_F.pdf

ACCESS is good .....hope it's not audio, until auditors come

Left UBA to join ACCESS . @Onegentleguy