Streetinvestor2:
Eku market. The red bull enter market just they knock down anything in the house. Na banking stock na him piss am off pass.When the corruption going on thr is exposed in future. The bank run in nigeria will make the one that happen in America to be joke.look as just full cashless exposed thr weak infrastructure. Transfers not working or hanging

Whoever the incoming administration for the next 4-8 years is, hope the selection of CBN Governor and finance minister amongst other sector is thought through... else, its another 5 years of financial roller-coaster . Emiefiele is a disaster. Good riddance to bad rubbish in 2024. Where we see challenge, we see opportunities ... two possible scenarios in the next 4 years:-
I. Would not be surprised when telecommunication companies start to take up the share of some of this stupid banks in basic functionality. Less stress carrying out banking transaction. All it takes is one success story, then every tom , dick and harry follow suit. Possible M&A on the horizon as well. Money on MTNNG to spear-head this. Big tech Takes up Big and small bank Lunch

II. Stock broking firms [e.g Morgancapital, Meristem, etc ] Partner with Fintech companies e.g paystack,chipper, etc to serve the purpose of investment and domestic /international transaction for their clientele.

III. Trust Nigerians to move en-masse to the next best thing.

US have ensured that all deposits are safe. This should be the case. Remember that as US banks have these unrealised losses, European banks have them as well. Same for Japanese, Australians and Canadians.

However, It is European banks that I fear the most. Europe has a bail-in law that was passed long ago. The law allows European banking regulators to use depositors' money to recapitalise any failing bank. As in wipe your account to ensure that the bank doesn't fail.

If similar event that happened in US shows up in any European Bank, this will spell trouble. Because there will be mass panic.

Good that we don't have those bail-in laws in Nigerian banks.

RabbiDoracle:
As at today they have 3 more banks(highlighted above) that are losing big time. So will Fed intervene or allow it fail?

One arrow to hunt 2 birds. Fed have no choice but to save the un-insured money. They will open up a tab (oversimplification of the approach) to take up all bonds from banks regional and big banks that has lost value due to the retarded rate hikes. IT's a win-win for the feds same as covid-19 play they did with black rock [blackrock holds all the purchased securities by feds and is in charge of amortization, liquidation of such securities ]. Investors are the losers but depositors should be fine. The issue going forward will probably be the amount the FEDs will be willing to save depositors or just save themselves the hassle by slowly back-off the rate hikes. Knowing [Investment] bankers, someone is already gambling on the other side of this trade with depositors funds.. #FinancialEngineering .

Hogwarthtrades:


One arrow to hunt 2 birds. Fed have no choice but to save the un-insured money. They will open up a tab (oversimplification of the approach) to take up all bonds from banks regional and big banks that has lost value due to the retarded rate hikes. IT's a win-win for the feds same as covid-19 play they did with black rock. Investors are the losers but depositors should be fine. The issue going forward will probably be the amount the FEDs will be willing to save depositors or just save themselves the hassle but slowy back-off the rate hikes. Knowing bankers someone is already gambling on the other side of this trade with depositors funds.. #FinancialEngineering

They are doing that. But the issue is that Fed wants to continue raising rates to combat inflation. But this banking crisis is causing them to backstop lots of funds lost from bond losses and this naturally requires that they start printing to fund these (QE). Restarting QE destroys Fed's credibility and will further create more inflation in an already inflationary environment.

US banks are holding so much in unrealised losses due to bond price crash. And many central banks are in the same boat as well including the Fed. So if I were to be Fed, just arrange a financial crash that will give no one option to invest in any other instrument except govt bonds for safety of your money.

RabbiDoracle:

So if I were to be Fed, just arrange a financial crash that will give no one option to invest in any other instrument except govt bonds for safety of your money.

Oh bros, na gbege be that oh.. Double edge sword!!! thats' Pretty much Paul Volker move.. that might be what unites the political class (G-7,G-20,BRICS) and wall street because they have vested interest in their respective stock market. crash stocks, see them come out of the woods gun blazing with BS tools (Fiscla and monetary)... they can only live on bonds for so long.

With regards credibility, The Fed will always find a way to use a mole in the financial world to "leak" actions. That has been working since Bernanke til date.. Should be interesting times to see how real estate value destruction continues vs pause.

always interesting to see your perspective on such issues. Big ups !!!

This cashless policy has exposed the weakness of the Nigerian Banks infrastructures. Transfers are not going through, monies are hanging, people are being debited without the receiver getting the money, and people are being debited more than once for a single transaction.

That a majority of Nigerians are now switching to Fintechs like Opay, Palmpay, Flutterwave, etc in an unprecedented move away from use of traditional bank transfers, is of great concern to discerning investors.


The negative figures may be slow in coming in, but with time, most banks will show some evident decline in both Topline and Bottomline.

My one pence.


Meanwhile, if you want to send money to anyone using OPAY, no need to ask for their account number. Just remove the first 0 in their phone numbers. The remaining 10 digits is their OPAY account number. You can use my phone number to experiment it🙄

If there is ever a BankGate in Nigeria again, we could blame it more on the inefficiencies of the banks management than on global financial crisis.

Lest I forget. The Bankers Committee have an excuse to give for the present inefficient, and ineffective and ineffectual online banking system. They want us to blame it on the Brain Drain currently going on in Nigeria. They want us to believe that some or most of their best IT professionals have resigned from their jobs and relocated overseas for greener pastures, thereby leaving them with either amateurs or not-yet-expert IT professionals.

Well, one thing is certain: The gods are certainly not to be blamed.

Zagee:
Nigerian Market no dey ever follow.. lol..

China had all index up at the end of the day.

Europe is currently down on every index(wahala...)

America na timezone dey save them like this. But Pressure ti wa!!!!

Crypto enjoying some bounce..

Asian Market joined the gbese last night.

Hmm...... Looks like everybody go collect oh

Zagee:

Asian Market joined the gbese last night.

Hmm...... Looks like everybody go collect oh

Yes but I don't think it will last longer as all the regulatory authorities all over the world are on their toes now to do per minute or daily check on their financial institutions especially the western world. More stress test being conducted. Time to think outside the banking stocks for me.

Dutch lender ING said it had again toughened its lending policy to the oil and gas sector, restricting finance to clients engaged in commodity or trade finance and ‘midstream’ infrastructure

YoungBuffet:


Yes but I don't think it will last longer as all the regulatory authorities all over the world are on their toes now to do per minute or daily check on their financial institutions especially the western world. More stress test being conducted. Time to think outside the banking stocks for me.

There are a lot of blacksmiths in here smiling to your response.

I want to be like PeetObi. I want to be a trader not an investor

Zagee:

Asian Market joined the gbese last night.

Hmm...... Looks like everybody go collect oh

Watch Swiss bonds.

There was massive rush into the bonds yesterday that collapsed the 2-year yield by 40% in just 1 day.

Now the 2 year bond yield is collapsing again by 25% just some minutes into trading.

I think there are stresses in the global banking space and the epicentre may be in Switzerland.

And secondly, why did SEC tell Credit Suisse to delay the release of their annual results via a phone call last week. What did they see? What is the scale of CS loss?

And $CS CEO, as at this morning, is even rejecting the board's bonus for the year end 2022 and taking a pay cut. Kilode?

Nkan be!!!

RabbiDoracle:


Watch Swiss bonds.

There was massive rush into the bonds yesterday that collapsed the 2-year yield by 40% in just 1 day.

Now the 2 year bond yield is collapsing again by 25% just some minutes into trading.

I think there are stresses in the global banking space and the epicentre may be in Switzerland.

And secondly, why did SEC tell Credit Suisse to delay the release of their annual results via a phone call last week. What did they see? What is the scale of CS loss?

And $CS CEO, as at this morning, is even rejecting the board's bonus for the year end 2022 and taking a pay cut. Kilode?

Nkan be!!!

Woke up to feed on twitter about Swiss distress. I was like "Mogbe!!" The epic centre of financing!!

RabbiDoracle:


Watch Swiss bonds.

There was massive rush into the bonds yesterday that collapsed the 2-year yield by 40% in just 1 day.

Now the 2 year bond yield is collapsing again by 25% just some minutes into trading.

I think there are stresses in the global banking space and the epicentre may be in Switzerland.

And secondly, why did SEC tell Credit Suisse to delay the release of their annual results via a phone call last week. What did they see? What is the scale of CS loss?

And $CS CEO, as at this morning, is even rejecting the board's bonus for the year end 2022 and taking a pay cut. Kilode?

Nkan be!!!

8th March Wednesday, US SEC calls Credit Suisse to delay result.

8th March Wednesday, Silvergate Bank announced voluntary liquidation.

10th March Friday, Silicon Valley Bank collapsed.

12th March Sunday, Signature Bank taken over by US banking regulators.

Something isn't right. There seems to be global scheming going on to douse the real thing.

yMcy56:
NIGERIA ENAMELWARE
Cancellation of proposed bonus shares of 3:2

* For those that might be queuing up to buy because of the bonus*

https://doclib.ngxgroup.com/Financial_NewsDocs/Nigerian_Enamelware_-_Cancellation_of_the_proposed_bonus_of_3_new_shares_for_every_2_shares_held.PDF

Is this stock on NGX? Hardly hear anything from them, or because it's not on my radar.

BabsO2:
ABSA sets aside $149m against Ghana debt. How much are Nigerian banks exposed, how much will they be setting aside ? Most likely not too significant compared to their total assets.

Based on BabsO2 post,

Who know if this is why NSE banks reports are being delayed? Wanting to incorporate impairments for investment losses into their annual reports.

Especially Access that has been buying enu na Ana.

Last reported delay warning was from ETI yesterday.

Stocks receiving "severe" beating so far in market.....
GTCO

ZENITH: Trying to hold on....

UCAP: Made U-turn after touching 14.40/45......sighted back @14.90...
Maybe because today is the last qualification Date for div, who knows..

machine606:

Is this stock on NGX? Hardly hear anything from them, or because it's not on my radar.

Lol.
It's directly above ETERNA

Except recently when bonus was announced, I don't think I've seen it traded in a long time.
Very illiquid and I think the price seems to be on the high side self......maybe the price it was sold last several years ago.

** Bonus has again being cancelled self. No more bonus issue**

** Funny enough, the stock has been officially moved up with 100k bulk units.......now @17.75.....up with +1.55....

yMcy56:
Stocks receiving "severe" beating so far in market.....
GTCO

ZENITH: Trying to hold on....

UCAP: Made U-turn after touching 14.40/45......sighted back @14.90...
Maybe because today is the last qualification Date for div, who knows..

all i see in the market is caution from both sellers and buyers

YoungBuffet:
all i see in the market is caution from both sellers and buyers

Yes. Cautious trading.......
People trying to bid lower......but not much sellers are willing to sell lower.....

yMcy56:

Yes. Cautious trading.......
People trying to bid lower......but not much sellers are willing to sell lower.....

that is to tell you FPIs are not really much on NSE if not they would have done the dumping at any price

Nigeria records first foreign portfolio surplus in five years – The Nation

Nigeria’s foreign portfolio investments (FPIs) status has witnessed a major turnaround with yearly inflows outweighing outflows for the first time in five years. Latest annual trading data on FPI showed that foreign investors bought more Nigerian stocks than they sold last year, reversing the negative trend that started in 2018. https://thenationonlineng.net/nigeria-records-first-foreign-portfolio-surplus-in-five-years/

Will this trend continue into 2023 ? Likely. Based on the point that Nigeria still remain a growth area if security issues can be resolved amongst other pressing issues. Plus Nigerian assets are currently grossly under priced compared to US assets. The likelihood or otherwise will be determined by unfolding events up to end of May and how June kicks-off .

YoungBuffet:

that is to tell you FPIs are not really much on NSE if not they would have done the dumping at any price

Chai!! Those guys ehnnn!!
They nearly crashed this market in March 2020 if not for God on our side.

They were just rolling out trucks of the kayas and selling at any available price that time.
The banking sector especially really felt the heat......and it cut across all sectors.

Imagine Zenith @10.70!!!
Wasn't funny that time. It affected quite a lot of people and till date, some people will not near NSE for whatever reason.

RabbiDoracle:


8th March Wednesday, US SEC calls Credit Suisse to delay result.

8th March Wednesday, Silvergate Bank announced voluntary liquidation.

10th March Friday, Silicon Valley Bank collapsed.

12th March Sunday, Signature Bank taken over by US banking regulators.

Something isn't right. There seems to be global scheming going on to douse the real thing.

I suspect over this year or coming year, the USD dollar may have to loose value (10 to 20%) with respect to international currencies. I feel the dollar needs to loose value further to the Yuan to make American products compete more with Chinese ones. And boost Made in America products. A very difficult journey that needs to be embarked on. As I have a feeling the dollar is over-valued, if the currency valuation is to be backed by US production resources and outputs. Perhaps a reason why the US under Biden is now ready to produce Oil and Gas from Alaska. As real (and or more) American products need to be brought on stream. Apart from the dollar likely being over-valued, US equities are over priced based on price earnings (perhaps I need to verify this on google)

BabsO2:


I suspect over this year or coming year, the USD dollar may have to loose value (10 to 20%) with respect to international currencies. I feel the dollar needs to loose value further to the Yuan to make American products compete more with Chinese ones. And boost Made in America products. A very difficult journey that needs to be embarked on. As I have a feeling the dollar is over-valued, if the currency valuation is to be backed by US production resources and outputs. Perhaps a reason why the US under Biden is now ready to produce Oil and Gas from Alaska. As real (and or more) American products need to be brought on stream. Apart from the dollar likely being over-valued, US equities are over priced based on price earnings (perhaps I need to verify this on google)

Is the S&P overvalued?
It has come down from a high of 38 at the end of 2021, but its range throughout much of the 2000s and 2010s was generally between 20 and 28, so it may indicate that the S&P 500 is still overvalued. Thus, an overvalued S&P 500 is often an indicator that we could still see a drop in 2023.10 Feb 2023
https://www.nasdaq.com/articles/up-7-in-2023-is-it-safe-to-invest-in-the-sp-500-right-now

RabbiDoracle:


8th March Wednesday, US SEC calls Credit Suisse to delay result.

8th March Wednesday, Silvergate Bank announced voluntary liquidation.

10th March Friday, Silicon Valley Bank collapsed.

12th March Sunday, Signature Bank taken over by US banking regulators.

Something isn't right. There seems to be global scheming going on to douse the real thing.

I think a key issue is the US market needs some correction apart from any possible dollar over valuation issue. The article below estimates the amount of correction needed in the American market. While I think the Nigerian market direction will largely be determined by how security issues amongst other pressing issues are resolved in the coming months.


The American stock market currently appears to be overvalued by 32%. In other words, it would take a 24% drop to bring the market back to its long-run equilibrium level. At the last all-time high, on November 8, 2021, the market was 82.4% overvalued https://www.estimite.com/post/is-the-us-stock-market-overvalued/#:~:text=In%20other%20words%2C%20it%20would,the%20market%20was%2091.6%25%20overvalued.

This should be helpful to Transcorp small in the coming years. How small I don't know.

FG probes theft in $1.1bn oil well – Punch
The largest oil and gas field financing transaction of about $1.1bn – Oil Mining License 17, owned by billionaire business tycoon, Tony Elumelu, is currently under investigation following the uncovering of an illegal oil bunkering facility connected to it, The PUNCH has learnt. The PUNCH gathered that the investigation was necessitated after the Nigeria Security and Civil Defence Corps on Thursday, uncovered an illegal local refinery at Otamiri-Etche, Etche Local Government Area of Rivers State. The illegal refinery, The PUNCH gathered, steals crude from OML17 fields operated by Heirs Holding Oil and Gas Limited. In 2021, Heirs Holdings acquired 45 per cent of OML 17 from Shell Total and Eni. At the point of acquisition, the field located at the north Port Harcourt, produced just 27, 000 barrels per day, however, production rose to 40, 000 barrels per day seven months after acquisition. The PUNCH gathered that the NSCDC was able to burst.

https://punchng.com/fg-probes-theft-in-1-1bn-oil-well/

Chart on the left shows that the banking sector looked good. Interest spurred on towards the last 2hours of the day. We can temporarily say we are safe. Perhaps, there might be no use for the cutlass people have sharpened... yet.

[quote author=RabbiDoracle post=121728393]

Based on BabsO2 post,

Who know if this is why NSE banks reports are being delayed? Wanting to incorporate impairments for investment losses into their annual reports.

Especially Access that has been buying enu na Ana.

Last reported delay warning was from ETI yesterday.
[/quote

There would surely be impairment from the Ghana Restructuring on Nigerian Banks, however i believe it would be manageable. i even suspect that the N6b impairment done by UCAP might be related to Ghana Bond because they (UCAP) have a shop in accra

I got this email from broker regarding chapel hill denham REIT bond issue.

CLOSING SOON: CHAPEL HILL DENHAM NIGERIA REAL ESTATE INVESTMENT TRUST (NREIT) SERIES 2 ISSUANCE OF UP TO N44.6 BILLION


BROKERAGETEAM
To
forthrightresearch@forthrightsec.com
Mar 14 at 9:48 AM
6 attachments
Dear Forthtrader,

Forthright Securities & Investments Limited is pleased to inform you that the The Chapel Hill Denham Nigeria Real Estate Investment Trust (“NREIT” or the “Fund”) Series 2 Offer of up to N44.6 billion is closing this week. The Fund raise is to acquire a high-quality corporate residential portfolio in Maitama Abuja (‘’the Abuja Portfolio”) that generates US dollar cash flows. Post-acquisition, investors in the Offer will receive quarterly dividends in the currency in which rentals are paid by tenants.



Below are key highlights of the Offer



- NREIT is a SEC registered Shariah compliant real estate fund.

- The Fund is raising N44.6 billion to acquire a high quality corporate residential portfolio in Maitama Abuja.

- The tenants are OECD country embassies and they pay their rents in US Dollars.

- Essentially, investors will invest in Naira and will receive quarterly dividends in the currency in which the rentals are paid by the tenants.

- You will receive US$ cash flows

- The targeted return of the Fund is 20%+ in Naira (at the official FX rate) and around low double digits in US Dollars.

- NREIT will be listed on the NGX (REITs must be listed)

- Minimum subscription is N1,025,000 (10,000 units).

- The Offer is scheduled to close on Friday, March 17, 2023.

Has anyone subscribed to the series 1 or have they paid any quarterly dividend as stated here. Thanks

debeey87:
I got this email from broker regarding chapel hill denham REIT bond issue.

CLOSING SOON: CHAPEL HILL DENHAM NIGERIA REAL ESTATE INVESTMENT TRUST (NREIT) SERIES 2 ISSUANCE OF UP TO N44.6 BILLION


BROKERAGETEAM
To
forthrightresearch@forthrightsec.com
Mar 14 at 9:48 AM
6 attachments
Dear Forthtrader,

Forthright Securities & Investments Limited is pleased to inform you that the The Chapel Hill Denham Nigeria Real Estate Investment Trust (“NREIT” or the “Fund”) Series 2 Offer of up to N44.6 billion is closing this week. The Fund raise is to acquire a high-quality corporate residential portfolio in Maitama Abuja (‘’the Abuja Portfolio”) that generates US dollar cash flows. Post-acquisition, investors in the Offer will receive quarterly dividends in the currency in which rentals are paid by tenants.



Below are key highlights of the Offer



- NREIT is a SEC registered Shariah compliant real estate fund.

- The Fund is raising N44.6 billion to acquire a high quality corporate residential portfolio in Maitama Abuja.

- The tenants are OECD country embassies and they pay their rents in US Dollars.

- Essentially, investors will invest in Naira and will receive quarterly dividends in the currency in which the rentals are paid by the tenants.

- You will receive US$ cash flows

- The targeted return of the Fund is 20%+ in Naira (at the official FX rate) and around low double digits in US Dollars.

- NREIT will be listed on the NGX (REITs must be listed)

- Minimum subscription is N1,025,000 (10,000 units).

- The Offer is scheduled to close on Friday, March 17, 2023.

Has anyone subscribed to the series 1 or have they paid any quarterly dividend as stated here. Thanks

Chapel and Shariah

I jump and pass

debeey87:
I got this email from broker regarding chapel hill denham REIT bond issue.

CLOSING SOON: CHAPEL HILL DENHAM NIGERIA REAL ESTATE INVESTMENT TRUST (NREIT) SERIES 2 ISSUANCE OF UP TO N44.6 BILLION


BROKERAGETEAM
To
forthrightresearch@forthrightsec.com
Mar 14 at 9:48 AM
6 attachments
Dear Forthtrader,

Forthright Securities & Investments Limited is pleased to inform you that the The Chapel Hill Denham Nigeria Real Estate Investment Trust (“NREIT” or the “Fund”) Series 2 Offer of up to N44.6 billion is closing this week. The Fund raise is to acquire a high-quality corporate residential portfolio in Maitama Abuja (‘’the Abuja Portfolio”) that generates US dollar cash flows. Post-acquisition, investors in the Offer will receive quarterly dividends in the currency in which rentals are paid by tenants.



Below are key highlights of the Offer



- NREIT is a SEC registered Shariah compliant real estate fund.

- The Fund is raising N44.6 billion to acquire a high quality corporate residential portfolio in Maitama Abuja.

- The tenants are OECD country embassies and they pay their rents in US Dollars.

- Essentially, investors will invest in Naira and will receive quarterly dividends in the currency in which the rentals are paid by the tenants.

- You will receive US$ cash flows

- The targeted return of the Fund is 20%+ in Naira (at the official FX rate) and around low double digits in US Dollars.

- NREIT will be listed on the NGX (REITs must be listed)

- Minimum subscription is N1,025,000 (10,000 units).

- The Offer is scheduled to close on Friday, March 17, 2023.

Has anyone subscribed to the series 1 or have they paid any quarterly dividend as stated here. Thanks

Are you sure this is from chapel hill??

pluto09:



Are you sure this is from chapel hill??

That came from my broker's email though (my first brokerage account) but can't say more for ChapelHill. It's the same email I get other correspondence from them as well