Alagbalaowo:


I hope there will be fight tonight, I'm feeling bored.

Utalinmou:



Not rallying

Did you buy it for long term or capital appreciation?

The Dangote Refinery debacle was an attempt to blackmail the government. To set the record straight, the Buhari government sold untapped crude resources in advance, while the current government borrowed $3 billion from Afrex Bank using differential price variations. Dangote entered the blockchain, demanding the activation of the Petroleum Industry Act (PIA), despite his deep knowledge that Nigeria cannot account for its daily crude production, the same way a woman cannot give an accurate amount of daily breast milk she produces while breastfeeding.
What most readers are unaware of is that the National assembly, the maritime security and downstream oil industry in Nigeria are dominated exclusively by powerful Hausa-Fulani oligarchs, who control the Nigerian Ports Authority (NPA), Forcados and Escravos terminals, and the Nigerian Navy. This same group passed the Petroleum Industry Bill (PIB) before Buhari's exit. The law cannot be applied retroactively.
The bold moves of PBAT to stepped on this cabals is the result of current socioeconomic and political crises that is engulfing Nigeria.
International Oil Companies (IOCs) are exiting Nigerian oil fields en masse and there was no new investments in the oil and gas industry during Buhari's eight-year tenure, despite selling untapped crude in advance, The proceeds were allegedly used to defend the Naira and pay fuel subsidies, creating a macro-voodoo economy.
For instance, Nigeria doesn't produce enough electricity, yet there's a binding contract to supply electricity to neighboring countries whose territory crosses the River Niger. This contract cannot be broken by passing a new law demanding the generated electricity for Nigeria's exclusive use.

Denying people or institutions who paid for Nigerian crude oil in advance would worsen the situation. It's like a landlord collecting a year's rent in advance, then asking the tenant to quit because his son is returning home. This is the real national dilemma.

Regarding oil thefts in the Niger Delta, 85% are perpetrated by European countries in collaboration with Hausa-Fulani and some indigenous people. Bunkering is a lucrative, multi-million-dollar illegal business. The vessels used for this act are known to bypass the sea radar system to evade detection.
Reports show that every successful oil theft in Nigeria involves:
1. Hausa-Fulani (75%)
2. Military and Police (10%)
3. Indigenous Niger Delta people (10%)
4. Others (5%)
The government is handicapped. 90% of stolen crude oil ends up in European refineries, while 10% is smuggled to African nations. Breaking binding contracts will lead to severe consequences, similar to Venezuela's experience when Hugo Chavez seized foreign oil companies' assets via forceful nationalization, resulting in the country's current worsened state.

^
My brother forget that cheap propaganda
It is actually the current government that is doing most of those things you mentioned including borrowing with our crude oil. They have been doing that since they came into power.
You see this set of people government? They can lie. They think they own the media in Nigeria and they keep using the media to dish out lies and falsehoods.

Even some IOC workers dey go strike.. I never hear DIL workers strike

Streetinvestor2:
Let him hate nigeria as long as his investments are in nigeria. The ones that love nigeria have investments in Malta,dubai and other countries. His investments are putting food on tables for many Nigerians directly and indirectly. I have not seen his employees complain of not being paid well or being owed. iF I may ask how many Nigerians do you employ in your own capacity

@Bolded
Fixed

megawealth01:
How Buhari Blocked My Bid To Purchase Oil Field – Elumelu

https://www.vanguardngr.com/2024/08/how-buhari-blocked-my-bid-to-purchase-oil-field-elumelu/

Everybody don dey unravel.

Olaide1295:

If only you people read Adam Smith. I will argue we need more people who want to make money and "Maximise profit" in Nigeria.
Dangote's desire to make money is a net positive for the country.
When an entrepreneur desires to make money for himself by producing goods or rendering services to meet the needs of others, the government and people benefit. The entrepreneur's only benefit is a paper net worth increase.
In sage peter Obi's voice , that is wealth with enterprise.

Hmmm..fixed

eziokwunwoko:
Thanks, very grateful. Just saved me. I like your Custodian PLC recommendations.
Thanks! Thanks!!

Am not sure of the spirit that is holding custodian that thing should not be trading on red

emmaodet:


The current price is close to 52 weeks high / all time high

Well ucap has created multiple ATH already, custodian is dragging instead

Bagwa:
Notification of Suspension of Eight ( Listed Companies

Dear Valued Investors,

We wish to inform you that the companies listed below have been suspended from trading in their shares by the Nigerian Exchange Limited(NGX) effective today, Monday,8th July 2024.

This action was taken due to the failure of these companies to file their Audited Financial Statement for the year ended 31st, December 2023 within the stipulated time frame.
C & I Leasing PLC. (CILEASING)
Guinea Insurance PLC. (GUINEAINS)
Lasaco Assurance PLC.(LASACO)
Mutual Benefits Assurance PLC. (MBENEFIT)
NPF Microfinance Bank PLC. (NPFMCRFBK)
Regency Alliance Insurance PLC. (REGALINS)
Secure Electronic Technology PLC. (NSLTECH)
Unity Bank PLC. (UNITYBNK)

The suspension will be lifted upon the submission of the relevant financial statements by these companies.

We will keep you updated as more information is available

23rd July, has come and gone. https://doclib.ngxgroup.com/Financial_NewsDocs/41694_LASACO_ASSURANCE_PLC.-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_JULY_2024.pdf
What was the outcome of this meeting?

Mankind2024:
The Dangote Refinery debacle was an attempt to blackmail the government. To set the record straight, the Buhari government sold untapped crude resources in advance, while the current government borrowed $3 billion from Afrex Bank using differential price variations. Dangote entered the blockchain, demanding the activation of the Petroleum Industry Act (PIA), despite his deep knowledge that Nigeria cannot account for its daily crude production, the same way a woman cannot give an accurate amount of daily breast milk she produces while breastfeeding.
What most readers are unaware of is that the National assembly, the maritime security and downstream oil industry in Nigeria are dominated exclusively by powerful Hausa-Fulani oligarchs, who control the Nigerian Ports Authority (NPA), Forcados and Escravos terminals, and the Nigerian Navy. This same group passed the Petroleum Industry Bill (PIB) before Buhari's exit. The law cannot be applied retroactively.
The bold moves of PBAT to stepped on this cabals is the result of current socioeconomic and political crises that is engulfing Nigeria.
International Oil Companies (IOCs) are exiting Nigerian oil fields en masse and there was no new investments in the oil and gas industry during Buhari's eight-year tenure, despite selling untapped crude in advance, The proceeds were allegedly used to defend the Naira and pay fuel subsidies, creating a macro-voodoo economy.
For instance, Nigeria doesn't produce enough electricity, yet there's a binding contract to supply electricity to neighboring countries whose territory crosses the River Niger. This contract cannot be broken by passing a new law demanding the generated electricity for Nigeria's exclusive use.

Denying people or institutions who paid for Nigerian crude oil in advance would worsen the situation. It's like a landlord collecting a year's rent in advance, then asking the tenant to quit because his son is returning home. This is the real national dilemma.

Regarding oil thefts in the Niger Delta, 85% are perpetrated by European countries in collaboration with Hausa-Fulani and some indigenous people. Bunkering is a lucrative, multi-million-dollar illegal business. The vessels used for this act are known to bypass the sea radar system to evade detection.
Reports show that every successful oil theft in Nigeria involves:
1. Hausa-Fulani (75%)
2. Military and Police (10%)
3. Indigenous Niger Delta people (10%)
4. Others (5%)
The government is handicapped. 90% of stolen crude oil ends up in European refineries, while 10% is smuggled to African nations. Breaking binding contracts will lead to severe consequences, similar to Venezuela's experience when Hugo Chavez seized foreign oil companies' assets via forceful nationalization, resulting in the country's current worsened state.

You forget that the Law, PIA, mandates Feedstock for Domestic refineries a First line Obligation. Any other commitment is Secondary.

To say the government is handicapped is being sympathetic to corruption

Streetinvestor2:
Let him hate nigeria as long as his investments are in nigeria. The ones that love nigeria have investments in Malta,dubai and other countries. His investments are putting food on tables for many Nigerians directly and indirectly. I have not seen his employees complain of not being paid well or being owed.iF I may ask how many Nigerians do you employ in your own capacity

They are among the best paid in Nigeria

megawealth01:
Still on UNITY BANK and PROVIDUS...

If I'm not mistaken, your rationale for investing in Unity bank was because of your belief that the bank is on its way to profitability. Judging by the profit forecast released by the bank, we can safely assume this will eventuate.

However, I think you may be misinterpreting the Providus bank vs Unity bank "merger". Technically, the CBN has just bailed Unity bank or saved Unity from going under by selling it to Providus bank with some extra cash bonus to keep the enlarged entity going. Providus is the winner here not Unity. Enlarged entity is 80% Providus and 20% Unity. What is Providus history as a bank sef? Unity bank shareholders will be issued new shares equivalent to a quarter (or 25%) of the current value of Providus bank. I hope for your sake that CBN and Providus intend to have the enlarged entity listed. Otherwise, I'm not sure there is much to get excited about here. I'm just a bit confused about the excitement here. Maybe I'm missing something.

This merger arrangement appears to be coercive. The history of Providus Bank is deeply rooted in ARM, and PBAT has an indirect and undisclosed interest in ARM. This situation bears a striking resemblance to the past takeovers, such as Access Bank's 100% acquisition of Intercontinental Bank and the defunct Diamond Bank, where control was exerted through subtle means.

Omooloriredade:


If I'm not mistaken, your rationale for investing in Unity bank was because of your belief that the bank is on its way to profitability. Judging by the profit forecast released by the bank, we can safely assume this will eventuate.

However, I think you may be misinterpreting the Providus bank vs Unity bank "merger". Technically, the CBN has just bailed Unity bank or saved Unity from going under by selling it to Providus bank with some extra cash bonus to keep the enlarged entity going. Providus is the winner here not Unity. Enlarged entity is 80% Providus and 20% Unity. What is Providus history as a bank sef? Unity bank shareholders will be issued new shares equivalent to a quarter (or 25%) of the current value of Providus bank. I hope for your sake that CBN and Providus intend to have the enlarged entity listed. Otherwise, I'm not sure there is much to get excited about here. I'm just a bit confused about the excitement here. Maybe I'm missing something.

On the Dangote crude supply saga, it's not as easy as some of you make it to be.

Dangote wants direct crude supply for his refinery without any middlemen.
Dangote does not want any markup on the selling price.
Both valid points.

FGN in a precarious situation.
They have borrowed against future crude production which is also below where it should be ideally.

If FGN decides to fully meet Dangote's demand, on his terms and as per the law to the detriment of the creditors, it will backfire. To the poster suggesting it's the creditor's business he entered into an illegal contract, okay, all good. Creditor calls for their money, how will the FBN pay back? You miss a very important and critical point about sovereign debt. Once you show an inability to meet your contractual obligations to international creditors, it affects your ability to secure future loans at competitive rates if at all. Crude is Naija's major lifeline.

Ideal solution would be to ramp up production to satisfy contracts and also meet the refinery's demands but we know that is another problem on its own. At this stage, a compromise of some sort will be needed.

The part I'm not sure of is the "middlemen". I need to dig into that a bit more. These middlemen have always been there from the beginning. They were licenced to lift crude from upstream producers and supply them to bidders all over. Obviously, the solution they found was to "round trip the crude". Instead of selling all cargoes or deliveries to their customers, they intend to markup the price at $4 per barrel, sell to Dangote and their customers keep the $4pb which Dangote is rightly against.

Anyway, my point is the solution is not as simple as one may think.

Disclaimer - It's most likely I don't even understand what the issue is so don't take my word for it and don't let it upset you. Just my two cents.

Mankind2024:
This merger arrangement appears to be coercive. The history of Providus Bank is deeply rooted in ARM, and PBAT has an indirect and undisclosed interest in ARM. This situation bears a striking resemblance to the past takeovers, such as Access Bank's 100% acquisition of Intercontinental Bank and the defunct Diamond Bank, where control was exerted through subtle means.

I tried to do a quick search and a Mortgage bank came up so I decided not to include that in post. I don't need further evidence. Summary is that nothing calls for celebration in that news. I hope for the best outcome for those in Unity sha. I come in peace.

ojeysky:


Am not sure of the spirit that is holding custodian that thing should not be trading on red

No stock no matter how the fundamentals is guaranteed to be in green forever

Custodian was trading around 52 weeks high and you do not think people will take profit?
How then will wealth be transfered if this is not happening?
Mention a stock that was in a rally and you will find the point it dipped in red. This is Normal.

Mankind2024:
The Dangote Refinery debacle was an attempt to blackmail the government. To set the record straight, the Buhari government sold untapped crude resources in advance, while the current government borrowed $3 billion from Afrex Bank using differential price variations. Dangote entered the blockchain, demanding the activation of the Petroleum Industry Act (PIA), despite his deep knowledge that Nigeria cannot account for its daily crude production, the same way a woman cannot give an accurate amount of daily breast milk she produces while breastfeeding.
What most readers are unaware of is that the National assembly, the maritime security and downstream oil industry in Nigeria are dominated exclusively by powerful Hausa-Fulani oligarchs, who control the Nigerian Ports Authority (NPA), Forcados and Escravos terminals, and the Nigerian Navy. This same group passed the Petroleum Industry Bill (PIB) before Buhari's exit. The law cannot be applied retroactively.
The bold moves of PBAT to stepped on this cabals is the result of current socioeconomic and political crises that is engulfing Nigeria.
International Oil Companies (IOCs) are exiting Nigerian oil fields en masse and there was no new investments in the oil and gas industry during Buhari's eight-year tenure, despite selling untapped crude in advance, The proceeds were allegedly used to defend the Naira and pay fuel subsidies, creating a macro-voodoo economy.
For instance, Nigeria doesn't produce enough electricity, yet there's a binding contract to supply electricity to neighboring countries whose territory crosses the River Niger. This contract cannot be broken by passing a new law demanding the generated electricity for Nigeria's exclusive use.

Denying people or institutions who paid for Nigerian crude oil in advance would worsen the situation. It's like a landlord collecting a year's rent in advance, then asking the tenant to quit because his son is returning home. This is the real national dilemma.

Regarding oil thefts in the Niger Delta, 85% are perpetrated by European countries in collaboration with Hausa-Fulani and some indigenous people. Bunkering is a lucrative, multi-million-dollar illegal business. The vessels used for this act are known to bypass the sea radar system to evade detection.
Reports show that every successful oil theft in Nigeria involves:
1. Hausa-Fulani (75%)
2. Military and Police (10%)
3. Indigenous Niger Delta people (10%)
4. Others (5%)
.

There is an agreement between Nigeria and about 4 other west African countries for Nigeria to make the kanji dam and supply the others electricity else, these Africa countries will dredge their own dam for electricity thereby reducing the river/water current getting to kanji to roll the turbines.
Nigeria is the last country to the ocean, so it was agreed for her to make the dam rather than a country upland.

Chai! GTB sends me email reminder to purchase their shares every 5 minutes.

Streetinvestor2:
Let him hate nigeria as long as his investments are in nigeria. The ones that love nigeria have investments in Malta,dubai and other countries. His investments are putting food on tables for many Nigerians directly and indirectly. I have not seen his employees complain of not being paid well or being owed.iF I may ask how many Nigerians do you employ in your own capacity

On point. Thanks

*JASON'S LAW OF CORRUPTION*

*Nigerians* are roughly bifurcated into two: the *ruling wicked; and the waiting wicked.*

On June 13, 1988, *Pini Jason Onyegbaduo (1948 - 2013),* a popular Nigerian columnist, propounded a *"Hypothesis Of Corruption."*

The hypothesis was intellectually articulated in the now, defunct *THISWEEK News-Magazine.*

But unknown to *Pini Jason,* he had developed what would become known as the *"Jason's Law Of Corruption."*

The *"Law"* would subsequently help explain the unimaginable acts of corruption being perpetrated by *Nigerians; and Africans* in *Leadership* positions.

In a nutshell, *Jason's Law Of Corruption* states:
"The decibel of an average *Nigerian's public outcry is directly proportional to his distance from the opportunity to do exactly what he condemns."*

*Jason's Law* further states:
*"The difference between many a vociferous, sanctimonious and pontificating Nigerian and the villainous, itchy-fingered kleptomaniac is probably the absence of the opportunity to steal."*

*Jason's Law* concludes:
"In all probability, should the opportunity occur, *yesterday's moral Crusader, is more likely to crumble and disappear under the weight of Corruption."*

Explained in simple terms, *Jason's Law* maintains that the
farther the distance between a *Nigerian (African) and power-authority position, the higher the noise he makes against acts of corruption; the nearer he is to the position, the lesser the noise he makes.*
*...and When in the Position, the noise Ceases completely.*

Suffice to say that *Jason's* corruption hypothesis has never *failed* the test when applied in the analysis of the *bizarre behavior of Nigerians; and Africans in power.*
It is in this light that the hypothesis has been appropriately upgraded to the status of a *"Law Of Corruption."*

Therefore, whenever you are confronted with issues of *Corruption* in relation to erstwhile trusted *Nigerian; and African* individuals, who betrayed the *trust* reposed in them when elevated to positions of *Power and Authority,* always remember *"JASON'S LAW OF CORRUPTION."*
This is very simple *Fact* for anybody to understand.

Please, *Share* for *Knowledge* is *power* and *Learning* is the *key.*

#copied.

megawealth01:


Did you buy it for long term or capital appreciation?

Long term. But I want to be trading in between to acquire more units, it's a promising bank

Utalinmou:


Long term. But I want to be trading in between to acquire more units, it's a promising bank

Ok... If you so believe in them just consider it an investment and stop checking them for now until things fixes

Mankind2024:
The government is handicapped. 90% of stolen crude oil ends up in European refineries, while 10% is smuggled to African nations. Breaking binding contracts will lead to severe consequences, similar to Venezuela's experience when Hugo Chavez seized foreign oil companies' assets via forceful nationalization, resulting in the country's current worsened state.

Commendation for the write-up. But then, the bolded can only take place if the government is part of the corruption circle. Every contract/agreement has a clause and ways to nullify it legally. Simply put, the present government is a part of the corruption circle, hence the continuation of the status quo.

Streetinvestor2:
Let him hate nigeria as long as his investments are in nigeria. The ones that love nigeria have investments in Malta,dubai and other countries. His investments are putting food on tables for many Nigerians directly and indirectly. I have not seen his employees complain of not being paid well or being owed.iF I may ask how many Nigerians do you employ in your own capacity

It's very possible that there are at least 5 to 10 other Nigerians with as much money as Alhaji, but the monies are hidden. Imagine if just 5 of them take 10 different sectors and industrialize them just as Alhaji has done. Nigeria would have been great.

emmaodet:


There is an agreement between Nigeria and about 4 other west African countries for Nigeria to make the kanji dam and supply the others electricity else, these Africa countries will dredge their own dam for electricity thereby reducing the river/water current getting to kanji to roll the turbines.
Nigeria is the last country to the ocean, so it was agreed for her to make the dam rather than a country upland.

Yeah.. To avoid Dredging our waterways with reduced water power while in Cameroon's case their Dam is released and floods our waterways at peak of the rain season.
#opposite scenario

Mankind2024:
The Dangote Refinery debacle was an attempt to blackmail the government. To set the record straight, the Buhari government sold untapped crude resources in advance, while the current government borrowed $3 billion from Afrex Bank using differential price variations. Dangote entered the blockchain, demanding the activation of the Petroleum Industry Act (PIA), despite his deep knowledge that Nigeria cannot account for its daily crude production, the same way a woman cannot give an accurate amount of daily breast milk she produces while breastfeeding.
What most readers are unaware of is that the National assembly, the maritime security and downstream oil industry in Nigeria are dominated exclusively by powerful Hausa-Fulani oligarchs, who control the Nigerian Ports Authority (NPA), Forcados and Escravos terminals, and the Nigerian Navy. This same group passed the Petroleum Industry Bill (PIB) before Buhari's exit. The law cannot be applied retroactively.
The bold moves of PBAT to stepped on this cabals is the result of current socioeconomic and political crises that is engulfing Nigeria.
International Oil Companies (IOCs) are exiting Nigerian oil fields en masse and there was no new investments in the oil and gas industry during Buhari's eight-year tenure, despite selling untapped crude in advance, The proceeds were allegedly used to defend the Naira and pay fuel subsidies, creating a macro-voodoo economy.
For instance, Nigeria doesn't produce enough electricity, yet there's a binding contract to supply electricity to neighboring countries whose territory crosses the River Niger. This contract cannot be broken by passing a new law demanding the generated electricity for Nigeria's exclusive use.

Denying people or institutions who paid for Nigerian crude oil in advance would worsen the situation. It's like a landlord collecting a year's rent in advance, then asking the tenant to quit because his son is returning home. This is the real national dilemma.

Regarding oil thefts in the Niger Delta, 85% are perpetrated by European countries in collaboration with Hausa-Fulani and some indigenous people. Bunkering is a lucrative, multi-million-dollar illegal business. The vessels used for this act are known to bypass the sea radar system to evade detection.
Reports show that every successful oil theft in Nigeria involves:
1. Hausa-Fulani (75%)
2. Military and Police (10%)
3. Indigenous Niger Delta people (10%)
4. Others (5%)
The government is handicapped. 90% of stolen crude oil ends up in European refineries, while 10% is smuggled to African nations. Breaking binding contracts will lead to severe consequences, similar to Venezuela's experience when Hugo Chavez seized foreign oil companies' assets via forceful nationalization, resulting in the country's current worsened state.

I just read another balablu rubbish trying to exonerate failure

chimex38:

Everybody don dey unravel.

This one is making noise so that he can be added to the looting.He last week praised the 70% forex gain.He has direct access than many to balablu. He should help us as directly. He needs the oil well now.It is not easy for president to come to your house after winning election.That means you must have represented well

SonofElElyonRet:


They are among the best paid in Nigeria

Really,God bless him more then

TOE is in the good books of BAT...

chimex38:

Everybody don dey unravel.