debeey87:
Same woman that was asked by the committee to explain why she fuels her vehicles with 1.5m per month. Let her continue to play

SonofElElyonRet:


That doesnt mean her own allegations should be swept under the carpet... and by the way, while we are at it, why does a rep member earn like N28m per month (if I'm not mistaken)

SonofElElyonRet:
Total of 14 i think

Mankind2024:
It still seems strange to me that people consider sharing a screenshot of their portfolio to be unusual. The app I use for NYSE automatically displays the portfolios of any investors I follow or like, similarly on E-toro that restrict Nigerians to CFD/trade accounts. Any securities instrument clicked on will show people's portfolios and market beaters sharing their experiences on how they outperformed the market. I don't feel guilty sharing my portfolio on a faceless forum. I will share my portfolio the day I reach N300M in NGX and $100K in NYSE to motivate others. Investment analysis goes beyond just TA/FA dichotomy. My mission is to inspire and motivate people.

yMcy56:

Only 3 stocks delisted..... Resort Savings & Loans, Rak Unity (due to winding up), Niger Insurance.
The news has been out for more than a week or 2wks self.

14 was suspended (not delisted) for default in filing results within stipulated time.
Suspension/Sanction will be lifted once they submit their outstanding results to NGX.

purity2all:


Do they have a timeline on when they should file their results even with the suspension? Or will it just be left to them to do it at their own pace.

debeey87:
Same woman that was asked by the committee to explain why she fuels her vehicles with 1.5m per month. Let her continue to play

SonofElElyonRet:


No sir. Wasn't a parable.. a specific person's name was mentioned. Jesus never did that with other parables.. you care to name any other

emmasoft:


No timeline per se but they know that each day of the suspension attracts fine hence they will do everything at their reach to comply and release the outstanding results if they have to remain listed otherwise they just started their delisting journey.

SonofElElyonRet:


Corruption endemic...

The embattled Minister of Women Affairs, Uju Kennedy-Ohanenye has said that she was allegedly being victimised by some cabals in government because she refused to sign a $500 million World Bank loan request.

On July 10, 2024, a near physical confrontation between Kennedy-Ohanenye, and the House of Representatives Committee on Women Affairs and Social Development was averted at the National Assembly Complex, Abuja, where the minister had appeared to clarify the controversy surrounding her alleged diversion of N1.5 billion meant for the payment of contractors by officials of the ministry.

But speaking with THISDAY through a phone interview, the minister said that “There is a $500 million loan that was meant to be signed by me, but I refused to sign. There was also a case of $100 million earlier as well. Find out what it was meant for.

“All the loans they collect, including World Bank loans, etc, are you aware that the same World Bank staff in Nigeria takes back 40 per cent and calls it consultation fees?

“These are things you people should look into. You people should focus on where the problem is and let them leave me alone.”

She added: “Now, my life is at stake because I refused to sign the $500 million loan. Let me tell you, if I sign that loan today, I am entitled to five per cent of the money, but I refused to sign it. It is part of why the National Assembly and all of them are after me.

“And that 40 per cent they take is a secret, I found it out. Why should anybody give us a loan and you still direct us how to use the loan, and you take 40 per cent and provide us with a consultant that will take it, and they will take it?

“I told them $100 million is too much to use to teach our women how to save money, we can teach them, let them bring the $100 million and give it to those women and use it to know what to do with their lives."

https://dailytrust.com/tinubus-minister-national-assembly-victimising-me-for-refusing-to-sign-dubious-500m-loan/

veecovee:


Thank you Sir

My greatest fear on a daily basis is to die and go to hell and from there find out that heaven and hell is real like the rich man.

veecovee:


Thank you Sir

My greatest fear on a daily basis is to die and go to hell and from there find out that heaven and hell is real like the rich man.

SonofElElyonRet:


That doesnt mean her own allegations should be swept under the carpet... and by the way, while we are at it, why does a rep member earn like N28m per month (if I'm not mistaken)

dapix:
Ding!!

BullBearMkt:
Akinwunmi Adesina wrotes:

This whole issue on Dangote is shocking and creating bad waves for Nigeria globally. - Akinwunmi Adesina

Monopoly often exists where there are high barriers to entry or high capital costs.

How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries?

In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.

No smart investor would make a $19.5 billion investment and want it to be undermined by importers.

To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of “simply import it” is always so easily rationalized and chorused to solve any problem.

Competition is good for everyone. But is Dangote refineries anti-competitive? What is the evidence?

Has Dangote refineries prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades? Was it Dangote that held them back?

But Dangote refineries surely cannot be asked to ‘compete’ with importers of petroleum products.

That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.

We cannot and must not undermine, disparage or kill local industries, talk less of one that is of this scale — a jewel of industrialisation in Nigeria.

It is more than simply delivering the cheapest product to the market. It is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximizing forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the Naira.

We must not be myopic.

This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor?

Investing is tough. Pettiness is easy.

It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.

Akinwunmi Adesina

ndept:
https://doclib.ngxgroup.com/Financial_NewsDocs/41728_INTERNATIONAL_ENERGY_INSURANCE_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf

Against all expectations, IEI declare a loss of 289k in Q2. The company is now with a negative equity.

debeey87:


I am not downplaying her allegations but she could also be bandying numbers around because of how she was questioned at the hearing.

ndept:
https://doclib.ngxgroup.com/Financial_NewsDocs/41728_INTERNATIONAL_ENERGY_INSURANCE_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf

Against all expectations, IEI declare a loss of 289k in Q2. The company is now with a negative equity.

BullBearMkt:
@dapix and @KarlTom; example of local healthy competition

BullBearMkt:
Akinwunmi Adesina wrotes:

This whole issue on Dangote is shocking and creating bad waves for Nigeria globally. - Akinwunmi Adesina

Monopoly often exists where there are high barriers to entry or high capital costs.

How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries?

In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.

No smart investor would make a $19.5 billion investment and want it to be undermined by importers.

To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of “simply import it” is always so easily rationalized and chorused to solve any problem.

Competition is good for everyone. But is Dangote refineries anti-competitive? What is the evidence?

Has Dangote refineries prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades? Was it Dangote that held them back?

But Dangote refineries surely cannot be asked to ‘compete’ with importers of petroleum products.

That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.

We cannot and must not undermine, disparage or kill local industries, talk less of one that is of this scale — a jewel of industrialisation in Nigeria.

It is more than simply delivering the cheapest product to the market. It is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximizing forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the Naira.

We must not be myopic.

This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor?

Investing is tough. Pettiness is easy.

It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.

Akinwunmi Adesina

Streetinvestor2:
The heaven is never a physical place.You tell me whr God was staying before he created the heaven.

Streetinvestor2:
The heaven is never a physical place.You tell me whr God was staying before he created the heaven.

KarlTom:
Ding!!!