Aks:
Thanks @kaboninc BUT i think a better alternative has been provided by the 'banker's confirmation of signature' and not stress myself unncessarily on CSCS/BROKER palaver.

bolabiyi:
yeah..biko..we need see d details of livestock..

angelo82:
Access should pay the 0.30k in time.

Godisfaithful:


You should get it before the end of the day or tomorrow morning sir. Access dividend already processed and sent to respective bank as long as one has the e- dividend mandate with them

angelo82:


UBA/AFRIPRUD/UCAP paid on time why the delay from Access?

kaboninc:


Hey!!

I was about responding to you before my system went off....and I forgot.

See, in the banking industry, based on previous experiences, there's a policy that each bank must maintain a "sinking fund" (not the AMCON type, but one maintained in their books). They are to make an allowance sort of for the uncertainty of bad debts occurring. This allowance is usually a percentage of profit or an asset (I really don't have the full details). So when a bad debt is written off, it is like using the allowance to cushion the effect on the returns.

Now, when the bad debt is recovered (or something is recovered) as they will try to put in some effort to realize something, that money is plough back into that allowance which can mean either of these two: reduce the entire exposure of the company to bad/doubtful debts and reduce the income tax payable by the company. At the end of the day, it translate to increased liquidity for the firm.

Truth is that, there will always be defaulters for a particular year. And within that year, there is most likely going to be a recovery. So the recovery should help to cushion the effect of the defaulters.

Intendy:

Sorry for the late response

locodemy:


This result is not good.........Federal govt partnership?.........make them first announce am.......for now i wan reverse and find my way.......vuuuuuuuuuuuum

Chibuking81:
As Oando and FBNH made many people cry, they will also make many people to smile, if you are for long term don't miss this two stock in your investment plan.

locodemy:


Noted sir but did you see the collapsed Elephant i posted today?think about it sir and tell me the meaning.

oghenebiko:


Nah... u missed it bro. Its pure accounting estimates. No "sinking fund technology" involved.

locodemy:


Noted sir but did you see the collapsed Elephant i posted today?think about it sir and tell me the meaning.

locodemy:


Noted sir but did you see the collapsed Elephant i posted today?think about it sir and tell me the meaning.

feelamong:


If I were you I will buy FBN now and give my brokers a sale order of N6 to come with the buy order...

Don't forget me when the pepper rest sha..

Oil price is gradually hinging up.... most of impaired loans in FBNH are oil and gas related...

Intendy:

there are many reliable out there from
afrinvestor from afinvest,mytradebook from Greenwich,itrade from morgan,meritrade from meristem, investmentone,leadtrader from lead capital,etrade from capital bancorp,cashcraft have theirs
but do your findings via interaction with their CC to decide where you pitch your tent.

Aks:


hi Manonamission, I will appreciate if advise me on this question: I have waited in vain for my broker to upload my transfer signature form through CSCS but after reading your post above, i discovered that [b]banker's confirmation of signature [/b]is an alternative. Kindly confirm to me that my interpretation is Okay

kaboninc:


Loan and investment are different thing but can have a common relationship. You can convert the loan to an equity.

However, we need to establish if it was a loan to Seawolf or an investment in Seawolf.

But should AMCON wade it, then it is definitely a loan gone bad. If its a loan gone bad, my point is, since AMCON took over the loan, there must have been some consideration from AMCON to FBNH. But if full impairment was made........

Intendy:

Sorry for the late response

Manonamission:


Yes, you are right. The registrar will send back to your bank for confirmation though. Personally, I prefer this method. I do transfer forms only when process was initiated long before earnings season. If you have the time and can do a little run around, you could check with CSCS as someone advised too. They are quite responsive.

otokx:
Fidelity Bank MD allegedly involved in money laundering using his bank; hope this does not rub off on the shares badly?