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Re: Nigerian Stock Exchange Market Pick Alerts by JLINE(m): 9:50pm On Aug 29, 2016 |
ihedioramma:better...was in awe b4 ooo! |
Re: Nigerian Stock Exchange Market Pick Alerts by kenmaro: 10:24pm On Aug 29, 2016 |
Tritri: What do you expect me to do? I bought fbnh @ 6.74. May be, in my case i should kill anyone that is around me. Guy! just relax your mind. Business is a game of gain or loose. And the most important thing here is "patience". 3 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:39am On Aug 30, 2016 |
OBAGADAFFI: Well lets wait till dec/jan rally period which is my exit point to know if I'm trapped or not |
Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 6:42am On Aug 30, 2016 |
Bureau de Change (BDC) operators in Abuja have blamed the steady fall of the naira on deliberate hoarding of foreign currencies which forces them to buy from government officials and top politicians across the country. Some BDC operators at Wuse Zone 4, a popular spot for foreign currency exchange, lamented that the pervasive scarcity of the dollars and other core global currencies is due to activities of highly placed government officials, top politicians and Central Bank of Nigeria’s (CBN) staff, who have found the falling naira as a way to line up their pockets at the expense of the nation. On allegation made by a former CBN governor and current Emir of Kano, Sanusi Lamido Sanusi, that people sit at home and make calls to buy dollars from the CBN and resell, BDC operators corroborated it, saying, “It is true.” Refusing to identify his name, a BDC operator said, “Dollar is scare, we don’t have it like in the past. For us to have it, we must identify who to approach to buy from CBN for us,” he said. “Mostly, top government officials use their influence to buy from the CBN in the name of going abroad for official assignment,” he further alleged. Asked if he knew anyone or had bought from them, he said, “My ‘oga’ (boss) does not sleep,” adding that “he follows them around, sometimes he goes to their houses in Asokoro, Maitama to beg them to buy dollars. He traveled to Kano last time to approach somebody for it,” he pointed out. According to information provided by the BDC operators, ministers, key personnel at the presidency, top politicians not in government but with strong links as well as traditional rulers mostly from the northern part of the country use their influence to buy dollars from the CBN even at the old rate of N170/$. This must have informed the allegation of Sanusi, who, according to sources, must have spoken from vintage position. “My boss told me he buys dollars sometimes at N300 and N380 depending on individual sellers,” another BDC operator noted. The CBN while trying to prop up the naira few months ago opened dual windows and harped that the naira was floated to subject it to market forces. Unfortunately, the national currency has continued to receive intense battering and fell to N406/$ few days ago at the black (parallel) market. Recent reports said the naira has shed almost 40% against the dollar in almost a year, making it the worst performing currency globally. And if that was not enough, Sanusi ran scathing attacks on the Federal Government handling of the economy in general and the CBN currency operation in particular. “You don’t have to be an economist to know that any system that allows you to sit in your garden, and with a telephone call, make one billion naira without investing a kobo, that system is wrong. It is unsustainable”, Sanusi said of highly placed politicians and top individuals who use their influence to buy forex from the CBN and sell to make undeserved profit. “And just so we are not always blaming the previous administration. We have also made mistakes in this administration,” he added. “And if we fall into the same holes that we fell into the last time where the government is always right… If a policy is wrong, it is wrong. Nothing will make it right and it has to be changed,” the former CBN governor asserted. Investigations based on findings from the BDC operators have shown that CBN top executives know about the whole dirty deals. According to information, they are helpless as they cannot stop immense pressure put on them. “Often, calls come from various sources that are highly placed. The major culprits in requesting for forex which they possibly resell are the ministers and highly placed presidency staff, who the CBN executives cannot ignore,” a BDC operator told Independent, lamenting that he was tired of begging these “people for forex.” Few months ago, before the CBN floated the naira, there were allegations against a key aide to President Muhammadu Buhari, who had unimpeded access to forex as the nation groaned under forex scarcity. The CBN had defended its position, saying it did not sell dollars to individuals but the aide while defending his dollar purchases said he did not breach any law as he did not buy above the threshold set by the CBN. There has also been allegation of the CBN leaving its constitutional role of being the bankers’ bank to the buying and selling of currencies. According to the BDC operator, who spoke with Independent, “the CBN flexible forex regime has not worked in our favour or the country but has become the conduit pipe as Emir Sanusi has said to influential people’s advantage. “Banks don’t have adequate forex and so the demand placed on us is high. But for you to get it, you must be prayerful that one government’s official or politician remembers you and comes calling to sell what he has gotten for cheap from the CBN,” he said. https://www.nairaland.com/3316721/buy-dollars-government-officials-bdcs Like i said earlier the era of FUEL subsidy is gone, We are now in FOREX subsidy era, So don't be left out. *ThE OcToPuS*
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Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 7:10am On Aug 30, 2016 |
PETERiCHY: The question is..........by that time you mentioned will you be selling at profit or loss based on the #3.30 you bought?secondly do you know the extent fbn will fall at this time?if it falls to #1.00 now and rally to #2.00 by then,dont you see you will not be a profit taker? i think the best for you and i including others who bought at high prices is to look for a way of diluting our shares with the lowest price fbn can go at this time............hehehe...........fbn to become a JIJO stock and it will be sweet this time. |
Re: Nigerian Stock Exchange Market Pick Alerts by PETERiCHY(m): 7:45am On Aug 30, 2016 |
locodemy: The bottomline is if you ain't ready to lose all your fund then you don't have any business being in the stock market. QED. *ThE OcToPuS* |
Re: Nigerian Stock Exchange Market Pick Alerts by megainvest: 10:22am On Aug 30, 2016 |
Positive news cooking for the Nigerian oil market. This may be time to start accumulating stocks that have been battered due to exposure to oil... Pls do your DD. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by veecovee: 10:29am On Aug 30, 2016 |
who knows the outcome of the banks and CBN meeting? |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:30am On Aug 30, 2016 |
FBN bounces back above N3 very early . . |
Re: Nigerian Stock Exchange Market Pick Alerts by veecovee: 10:30am On Aug 30, 2016 |
megainvest:post news news here dear |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:34am On Aug 30, 2016 |
veecovee: Nothing yet ! |
Re: Nigerian Stock Exchange Market Pick Alerts by Raider76: 10:35am On Aug 30, 2016 |
My Zeee dividend just dropped in. |
Re: Nigerian Stock Exchange Market Pick Alerts by angelo82: 10:38am On Aug 30, 2016 |
So much good news today that suppose to propel the bull.I read about the 14Billion USD investment approved for Nigeria for various investments in different sectors.Who is holding down the bull this long? |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:40am On Aug 30, 2016 |
angelo82: Emefiele |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 10:51am On Aug 30, 2016 |
umm Fidelity SP 0.96 Bid 500k Offer 14.9m fx ban is still in d driving seat 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by angelo82: 11:12am On Aug 30, 2016 |
So because of Emefeile we couldn't enjoy the dividend rally?,May he not enjoy that office. |
Re: Nigerian Stock Exchange Market Pick Alerts by rebekah2011(m): 11:15am On Aug 30, 2016 |
Raider76: I never see my own. First Bank wetin dey now |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 11:20am On Aug 30, 2016 |
angelo82: i will not say Amen to that prayer because i never purchased mine.........you should enjoy your dividend while we wait for price fall to enjoy our own capital appreciation. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 11:24am On Aug 30, 2016 |
megainvest: shiiiiii.........pls wait naw.........na because you don gather your's and now to do monkey hunting.......we don hear the news..........it's not only oil.Agriculture and medicals follow kwa.......hold on bro so that all of us go blow the trumpet. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 11:26am On Aug 30, 2016 |
fxuser: This one na damage control bounce back......i still dey wait for my forcast junction which is #2.80 |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 11:31am On Aug 30, 2016 |
angelo82: market has zero confidence in him ! says dis today , says that tomorrow . all his decisions are based on d weather & bhari's body language 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 11:33am On Aug 30, 2016 |
fxuser: Fidelity SP 0.93 Bid nil Offer 19.3m (pere) #MopTheFear |
Re: Nigerian Stock Exchange Market Pick Alerts by angelo82: 11:36am On Aug 30, 2016 |
fxuser: Thats what happen when ethnicity is considered for appointment but Buhari has no brain if not he suppose to remove the guy. 2 Likes |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 11:36am On Aug 30, 2016 |
fxuser: brother fxuser.........na good news be that naw.......i hope cutlass dey your hand..........for me i no dey play small pikin game......my eyes no dey there.... |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 11:45am On Aug 30, 2016 |
locodemy: um liquidity lo sho jo ro been attracted to FCMB, just had to join d bid train make emefiele do anyhow , his end is near |
Re: Nigerian Stock Exchange Market Pick Alerts by fxuser: 11:49am On Aug 30, 2016 |
UBA 4.35 bid 2.9m offer 10.9m after declaring dividend & cbn lift from fx ban ! Na Wa umm |
Re: Nigerian Stock Exchange Market Pick Alerts by angelo82: 11:53am On Aug 30, 2016 |
fxuser: The amount is too much and most people are worried about how it would affect their balance sheet but 3rd quarter result will douse or intensify that tension. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 11:54am On Aug 30, 2016 |
fxuser: just chill down.....next week is a week of bounce back..........for this week..........na to cherry picks especially those new 52 weeks low stocks..........anyone wey get ear let him hear. 1 Like |
Re: Nigerian Stock Exchange Market Pick Alerts by angelo82: 12:05pm On Aug 30, 2016 |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 12:10pm On Aug 30, 2016 |
angelo82: Tell am to comot for road and park wella. |
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 12:15pm On Aug 30, 2016 |
FCMB and DIAMOND Bank @1.04.......i think Diamond trades faster than Fcmb........i am also attracted to diamond bank at the current price..........dont know the outcome of the meeting towards offence committed. 1 Like |
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