Forex Windfall deadline-December 2024
From the Green Chamber of FEDERAL REPUBLIC OF NIGERIA.

Has Tinubu signed this bill?

Heishere:


To purchase their shares at today's price you will need over N3Trillion Naira. They will also likely sell it at a premium. You will also need roughly about N2Trillion to start running it. How much is Nigeria's budget again?

I responded to a comment about if MTN collapses... in such a scenario you can't be taking about today's share value nawu? Moreover, there are international banks who would be willing to fund such high value transaction even if as a consortium... again i say no one is indispensable

He can actually download stock average calculator on playstore. I knowit's a lazy way though.

ositadima1:


My dear, you will need a lot more units to come close; you will need about 1.6 million units to average down to 11.5 . Check your calculations or use Excel.

[quote author=Streetinvestor2 post=131266878][/quote]

Contrary to your assumption, I have held OANDO in my portfolio for over seven years and exited at the right time.
I invested in MTNN at its listing in May/June 2019 and also participated in the 2021/2022 special rights issue. I'm aware that no comments, regardless of their tone, can influence the prices of established blue-chip stocks on the NGX.
As an investor, I believe I have the right to share my candid opinions about listed companies. My goal, like yours, is to motivate fellow members by sharing my investment experiences.


[quote author=Streetinvestor2 post=131266878][/quote]

Heishere:
Has Tinubu signed this bill?

In the first place, the bill was adjusted at the legislative cuz the executive wanted it..
So... officially not yet signed.
But technically yes signed.

Raider76:


I am expecting but yet to see anything. Though I filled my e-dividend made only last week.

My dividend landed today.

yMcy56:

Suspension has been lifted on CILEASING after filing finacial reports with NGX.

https://doclib.ngxgroup.com/Financial_NewsDocs/41893_C_AND_I_LEASING_PLC.-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_JULY_2024.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/41868_C_AND_I_LEASING_PLC.-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JULY_2024.pdf

With this report, C and I looks like a good stock to buy at the current price.

emmaodet:


With this report, C and I looks like a good stock to buy at the current price.

very cheap

cocolacec:

My dividend landed today.

Congrats. Mine is yet to come. I emailed them and said they were working on it.

Raider76:


Congrats. Mine is yet to come. I emailed them and said they were working on it.

ok

Heishere:


To purchase their shares at today's price you will need over N3Trillion Naira. They will also likely sell it at a premium. You will also need roughly about N2Trillion to start running it. How much is Nigeria's budget again?

It is obvious you work in that sector or with mtn.The day mtn decides to leave or government kick them out.That same day you will see plenty that are ready to take over.I don't mind it being Asians or Indians coming in.The SA don't wish nigeria good for anything. They are enemies within which is the worst kind of enemy to live with in this present nigeria economy. They don't wish our economy to surpass theirs that is why mtn is draining our forex to sa instead of reinvestment here.

Mankind2024:
Contrary to your assumption, I have held OANDO in my portfolio for over seven years and exited at the right time.
I invested in MTNN at its listing in May/June 2019 and also participated in the 2021/2022 special rights issue. I'm aware that no comments, regardless of their tone, can influence the prices of established blue-chip stocks on the NGX.
As an investor, I believe I have the right to share my candid opinions about listed companies. My goal, like yours, is to motivate fellow members by sharing my investment experiences.

OK.. I wanted to get clarification on your stand so as to know if you are here for MH.

Highlight of fidson latest results

I believed the company need to do something urgently to address the net exchange difference that keeps swelling up like flour mixed with yeast.

They have to stop borrowing at ridiculous rates, can't they just do right issues to raise funds which will be more cheaper. Its not making any sense anymore

They also need to work on the costs that keeps growing, either by cutting the unnecessary costs or pass the cost to the consumer.

If the issues highlighted above are not worked on, I fear the company could go into loss by year end.

Fidson management needs to put on their thinking cap now before it's too late.

sky2891:
https://punchng.com/tinubu-bank-ceos-hold-closed-door-meeting-over-windfall-tax/

I guess to intimidate them fall in line.As we know all of them have skeleton in thr closet. I was not surprised ote/ tony singing praises of the decision and preaching morals.He is talking fairness but was ok fbn paying 40kobo to shareholders. After short changing forte oil shareholders when he pulled out the power sector to himself and family. Then sold empty shell to another group who now used big hammer on minority shareholders. He was talk about private jet rubbish

Raider76:


Congrats. Mine is yet to come. I emailed them and said they were working on it.

Ok

sky2891:
https://punchng.com/tinubu-bank-ceos-hold-closed-door-meeting-over-windfall-tax/

They will likely explain to him (& Senators) that the alleged FX windfall is mostly revaluation of non cash assets like dollar loans given to Dangote for his refinery. It's like saying Dangote Refinery of $20 billion has moved from a valuation of 20x500=N10T to 20x1200=N24T that is Dangote Refinery has a windfall FX gain of N14T. What is being discussed concerning banks is like telling Dangote Refinery to pay a 70% Windfall tax on the alleged N14T Fx gain in this example. The tax is largely a goose chase. I hope the bankers will make the president understand this issue. The Forex gains that can be paid by banks is that realized in the Profit statement. And not the notional FX revaluation of assets in the Comprehensive income.

Day one done.
Tomorrow we go again
My moniker is streetinvestor
I operate on the street/major investment decisions come from street sense...... doing update
I expect red still on nse tomorrow


I stand with protesters

Streetinvestor2:
It is obvious you work in that sector or with mtn.The day mtn decides to leave or government kick them out.That same day you will see plenty that are ready to take over.I don't mind it being Asians or Indians coming in.The SA don't wish nigeria good for anything. They are enemies within which is the worst kind of enemy to live with in this present nigeria economy. They don't wish our economy to surpass theirs that is why mtn is draining our forex to sa instead of reinvestment here.

Everything I said is public knowledge. I am just an investor. I keep hearing draining forex. What percentage of forex exported from the country in a year goes to SA? How much of your forex are your politicians exporting? Interpol reported it's hundreds of thousands flown out every hour. Other international companies that reinvested theirs, what happened to them?

Will the ongoing protest cause severe bear on all stocks in NSE? Especially on UCAP that has just be marked down.Pls ur thought

ade205:
Will the ongoing protest cause severe bear on all stocks in NSE? Especially on UCAP that has just be marked down.Pls ur thought

An event such as these protests, if they do affect the market, usually affect the whole market and not individual stocks. So it will not be specific to UCAP.

Hello NSEMPA members,
I'm concerned about the ongoing protests in our country and their potential impact on the Nigerian Exchange (NGX) and our investments, which represent the fruits of our labour and hustling in life.
The escalating violence, looting, and vandalism of public assets, including those of listed companies, pose a significant risk to the stability of our market.
We hope this protest does not turn into a revolution.
With curfews declared in some states and reports of isolated killings, the situation is dire. The protesters' demands have expanded to include calls for the President's resignation, and mobilisation to the seat of power here in Abuja has been reported.
We hope that the protesters will spare the banks and refrain from targeting them.
If the protests are not addressed through dialogue soon, the consequences could be catastrophic for our economy and the NGX.
A successful protest in Nigeria could also have contagious effects on neighbouring West African countries.
I urge us all to stay vigilant, monitor the situation closely, and be prepared for any eventuality (Ravaging bear 🐻 🐻 🐻 🐻‍❄ 🧸 🐻 🐻‍❄ 🧸 scenario).
Let us hope for a peaceful resolution to the crisis and a swift return to stability.

Streetinvestor2:
I guess to intimidate them fall in line.As we know all of them have skeleton in thr closet. I was not surprised ote/ tony singing praises of the decision and preaching morals.He is talking fairness but was ok fbn paying 40kobo to shareholders. After short changing forte oil shareholders when he pulled out the power sector to himself and family. Then sold empty shell to another group who now used big hammer on minority shareholders. He was talk about private jet rubbish

What are we buying today o?

A Spotlight on Ikeja Hotels Plc
Ikeja Hotels has put the past boardroom crisis behind it and is now thriving. The company's 2024 Q2 unaudited financial statements show excellent performance across all bottom lines. Profitability seems to be synonymous with Ikeja Hotels, as evidenced by the significant improvement in earnings per share from 19 kobo to 62 kobo for the group within a year.
The comprehensive income is commendable.
The cost of revenue was prudent, allowing for a substantial gross profit. Notably, the company has diversified its energy sources, including diesel and alternative energy, and imports continental foods, fabrics, and lighting systems, which adorn the Sheraton Hotels.
In contrast, MTNN cited imaginary forex losses and excessive cost of revenue to justify the lack of returns on our investments. This raises questions for NSEMPA investors to ponder.
Upon reviewing Ikeja Hotels' past performance, I realised that I had overlooked a hidden gem in my portfolio. Despite the aggressive rebalancing I did in December 2023, I decided to retain my shares, and it has paid off. This is a testament to the power of long-term investment over short-term gains. My initial investment of N1.5M in 2022 is now worth over N11M in 2024, Keeping up with inflation in forex term and growth.
I must credit our esteemed Madam YMcy56, who brought Ikeja Hotels to my attention in 2021 and 2022. Her insight prompted me to conduct due diligence, which has yielded a bountiful harvest. Kudos to Ikeja Hotels' management team, whose expertise and experience are driving the company's success.
The cancelation of RI and bonus that was announced is highly welcome.
The reasonable non-executive directors' remuneration, capped at N2M per year, is also noteworthy. I am proud of the company's progress and its ability to navigate inflation through capital appreciation and dividends.

Your observation touches on an interesting phenomenon in investor behavior and market psychology. Let's unpack this:



1. Cognitive Biases:
- Confirmation Bias: Investors often seek information that confirms their existing beliefs. If they believe a company is strong, they might dismiss negative results as temporary or unreliable.
- Anchoring: People may anchor to past performance or market dominance, finding it hard to adjust their views when new information emerges.

2. Market Sentiment vs. Financial Reality:
- There can be a disconnect between a company's perceived value (based on brand strength, market share, etc.) and its financial health.
- In MTNN's case, its dominant market position might be causing some investors to overlook financial red flags.

3. Short-term vs. Long-term Perspective:
- Negative equity in a half-year report is concerning, but some investors might view it as a temporary situation if they believe in the company's long-term prospects.

4. Understanding Financial Statements:
- Not all investors fully understand how to interpret financial statements or their implications.
- Some might prioritize revenue or market share over other financial metrics.

5. Trust in Management and Reporting:
- There's an assumption that management might manipulate results for strategic reasons (like discouraging short-sellers), which can lead to skepticism about negative reports.

6. The "Too Big to Fail" Mentality:
- For dominant companies like MTNN, some investors might believe that the company is too important to the economy to face serious trouble.

7. Service Continuity vs. Financial Health:
- The belief that "as long as they are providing services, financials are irrelevant" is flawed. While service continuity is important, financial health is crucial for long-term sustainability, investment in infrastructure, and shareholder returns.

Is there sense in this thinking? Not from a rigorous investment perspective. While market sentiment and company reputation are important factors, they should not overshadow fundamental financial analysis. Negative equity, especially for a telecom company that requires significant ongoing capital investment, is a serious concern that shouldn't be dismissed.

Prudent investors should:
1. Analyze both qualitative (market position, brand strength) and quantitative (financial statements) factors.
2. Understand that current service provision doesn't guarantee future sustainability.
3. Be wary of dismissing audited financial statements without strong evidence of manipulation.
4. Consider how financial struggles might impact future service quality, expansion, or competitiveness.

In conclusion, while there's a certain logic to the market's behavior, it's not a sound investment strategy to ignore financial realities in favor of surface-level performance or market dominance. Financial statements provide crucial information about a company's health and future prospects, and they should be given serious consideration in any investment decision.

Copied...

ade205:
Will the ongoing protest cause severe bear on all stocks in NSE? Especially on UCAP that has just be marked down.Pls ur thought

It's supposed to be a peaceful protest, hope its addressed and stopped soon before the hoodlums hijacked it, and that has been the govt concern as well, that it should be peaceful as planned.

While the protest concerns everyone, we still shouldn't wish the country more woes aside what the masses are already facing.
We shouldn't forget to be praying for the country às well.

While this started yesterday, we still have more gainers than losers in the market......24 gainers against 13 losers.
If some stocks decline, it could just be an opportunity to pick lower. Waiting and wishing to cash out on unfortunate circumstances is unpatriotic I Blvd.

I acquired additional MTNN yesterday, with a long-term perspective of securing funds for my children's educational expenses. So investors bias 2, 3, 6 is applicable to me.

ositadima1:



Your observation touches on an interesting phenomenon in investor behavior and market psychology. Let's unpack this:



1. Cognitive Biases:
- Confirmation Bias: Investors often seek information that confirms their existing beliefs. If they believe a company is strong, they might dismiss negative results as temporary or unreliable.
- Anchoring: People may anchor to past performance or market dominance, finding it hard to adjust their views when new information emerges.

2. Market Sentiment vs. Financial Reality:
- There can be a disconnect between a company's perceived value (based on brand strength, market share, etc.) and its financial health.
- In MTNN's case, its dominant market position might be causing some investors to overlook financial red flags.

3. Short-term vs. Long-term Perspective:
- Negative equity in a half-year report is concerning, but some investors might view it as a temporary situation if they believe in the company's long-term prospects.

4. Understanding Financial Statements:
- Not all investors fully understand how to interpret financial statements or their implications.
- Some might prioritize revenue or market share over other financial metrics.

5. Trust in Management and Reporting:
- There's an assumption that management might manipulate results for strategic reasons (like discouraging short-sellers), which can lead to skepticism about negative reports.

6. The "Too Big to Fail" Mentality:
- For dominant companies like MTNN, some investors might believe that the company is too important to the economy to face serious trouble.

7. Service Continuity vs. Financial Health:
- The belief that "as long as they are providing services, financials are irrelevant" is flawed. While service continuity is important, financial health is crucial for long-term sustainability, investment in infrastructure, and shareholder returns.

Is there sense in this thinking? Not from a rigorous investment perspective. While market sentiment and company reputation are important factors, they should not overshadow fundamental financial analysis. Negative equity, especially for a telecom company that requires significant ongoing capital investment, is a serious concern that shouldn't be dismissed.

Prudent investors should:
1. Analyze both qualitative (market position, brand strength) and quantitative (financial statements) factors.
2. Understand that current service provision doesn't guarantee future sustainability.
3. Be wary of dismissing audited financial statements without strong evidence of manipulation.
4. Consider how financial struggles might impact future service quality, expansion, or competitiveness.

In conclusion, while there's a certain logic to the market's behavior, it's not a sound investment strategy to ignore financial realities in favor of surface-level performance or market dominance. Financial statements provide crucial information about a company's health and future prospects, and they should be given serious consideration in any investment decision.

Copied...

Mankind2024:
A Spotlight on Ikeja Hotels Plc
Ikeja Hotels has put the past boardroom crisis behind it and is now thriving. The company's 2024 Q2 unaudited financial statements show excellent performance across all bottom lines. Profitability seems to be synonymous with Ikeja Hotels, as evidenced by the significant improvement in earnings per share from 19 kobo to 62 kobo for the group within a year.
The comprehensive income is commendable.
The cost of revenue was prudent, allowing for a substantial gross profit. Notably, the company has diversified its energy sources, including diesel and alternative energy, and imports continental foods, fabrics, and lighting systems, which adorn the Sheraton Hotels.
Upon reviewing Ikeja Hotels' past performance, I realised that I had overlooked a hidden gem in my portfolio. Despite the aggressive rebalancing I did in December 2023, I decided to retain my shares, and it has paid off. This is a testament to the power of long-term investment over short-term gains. My initial investment of N1.5M in 2022 is now worth over N11M in 2024, Keeping up with inflation in forex term and growth.
I must credit our esteemed Madam YMcy56, who brought Ikeja Hotels to my attention in 2021 and 2022. Her insight prompted me to conduct due diligence, which has yielded a bountiful harvest. Kudos to Ikeja Hotels' management team, whose expertise and experience are driving the company's success.
The cancelation of RI and bonus that was announced is highly welcome

This is a good testimony and commendable.
Only say una no dey remember me in all these......no thanksgiving offering, nothing. 😁
Wow! From 1.5 to 11m......that's progressive.

Ikeja Hotels still have more rooms to deliver if the management continues this way.
I wish it can also move like Transcohot someday too.
If it does, make una appreciate me too o. 😊

Mankind2024:
I acquired additional MTNN yesterday, with a long-term perspective of securing funds for my children's educational expenses. So investors bias 2, 3, 6 is applicable to me.

I think you will be fine. If it comes to the worst, MTNN will just need to undertake another Rights Issue. A lot of investors are still invested in them, and it will likely be oversubscribed.

LINKASSURE
Someone is asking about the Dividend, it was paid yesterday/today.
Bonus can't be immediate, will be added to your CSCS much later.