Agbalowomeri:


Provided your FA figures are reliable
What proportion of quoted companies go all out to deceive with cooked up figures?

FA also look at facts behind the figures.

Without seeing the results of betnaija I could see that they are doing well.

This advice here is worth way more than its weight in Gold.

Godlylifeoneart:
I will like to share my experience in economic recession with you all.
In 2008,i invested part of my first salary(110000) in ecobank transnational incorporation Public offer in $. Then it was N50, 000 at N111. 00/$ totalling $450 and got 1500 units of the moribund Eti shares.
I equally invested my 2nd month salary of N50, 000 naira in the shares of the defunct intercontinental bank that was politically and religiously ruined by the greediness of Erasmus akingbola, i equally opened a Dom account, Coz I had a dream of working abroad. Thereafter, I saved 50,000@$ monthly I. e Average of 400$ monthly in my Dom account.
Fast and forward the American recession came ad a result of easy credit facility n access granted to the American.
The 1st financial calamity by 2012/13was the so called ETI the stock was no longer being traded at $ price.
The 2nd was the demise of international Bank after the take over by political back up access bank, the 7500 units was valued at 250 units I. e 30 to 1
My Savings grace was the $ savings I built up in my first Dom account at m$ at ximum value of 138\$ and was able to build up 20,000 before I left for UK in 2012
Now,the worth of intercontinental bank N50,000 is less than N2000, at today value of access bank of 250 units while the N50, 000 of ETI worth less than 25,000 today.
The moral of the story., my $ investment which I invested less than N2. 7M now worth over N7M.
I am not taking the warning on the next depression lightly, no one knows what will happen to the naira +or- bubu, cos for any human being to grow Nigeria economy, the naira must be devalued or floated, any attempt to practice the present Buharinomics economy might not be good for Nigeria economy. Pls n pls convert your gains n profits into $\€/£ before the expected recession happens.
Message, i am trying to pass to you is that we should all embrace investment diversity.

wanaj0:


FA also look at facts behind the figures.

Without seeing the results of betnaija I could see that they are doing well.

Hmmmmm!!!
To the uninitiated, when Oga Wanaj0 talks about facts behind the figures, he does not mean the prepared lies called conference calls.
He can visit retail stores and banking halls to see how your customers are bringing you money. He does the job of NBS himself. No stories.

wanaj0:


Price rising got nothing to do with the health of the company.

As at the time when Onwuka Interbiz was DEAD, teh shares were still traded on the NSE. Remember 'Caveat Emptor' when buying any stock.

It is really surprising to me how people will blame NSE,CBN and everyone else for their misfortune in the stock market and see nothing wrong in investors buying shares of dead companies.

pluto09:



It is really surprising to me how people will blame NSE,CBN and everyone else for their misfortune in the stock market and see nothing wrong in investors buying shares of dead companies.

Wicked souls. So if I package saw dust as detergents with the knowledge of NAFDAC and sell it to the citizens. U will say y citizens buy instead of blaming the authorized watchdogs??

Godlylifeoneart:
I will like to share my experience in economic recession with you all.
In 2008,i invested part of my first salary(110000) in ecobank transnational incorporation Public offer in $. Then it was N50, 000 at N111. 00/$ totalling $450 and got 1500 units of the moribund Eti shares.
I equally invested my 2nd month salary of N50, 000 naira in the shares of the defunct intercontinental bank that was politically and religiously ruined by the greediness of Erasmus akingbola, i equally opened a Dom account, Coz I had a dream of working abroad. Thereafter, I saved 50,000@$ monthly I. e Average of 400$ monthly in my Dom account.
Fast and forward the American recession came ad a result of easy credit facility n access granted to the American.
The 1st financial calamity by 2012/13was the so called ETI the stock was no longer being traded at $ price.
The 2nd was the demise of international Bank after the take over by political back up access bank, the 7500 units was valued at 250 units I. e 30 to 1
My Savings grace was the $ savings I built up in my first Dom account at m$ at ximum value of 138\$ and was able to build up 20,000 before I left for UK in 2012
Now,the worth of intercontinental bank N50,000 is less than N2000, at today value of access bank of 250 units while the N50, 000 of ETI worth less than 25,000 today.
The moral of the story., my $ investment which I invested less than N2. 7M now worth over N7M.
I am not taking the warning on the next depression lightly, no one knows what will happen to the naira +or- bubu, cos for any human being to grow Nigeria economy, the naira must be devalued or floated, any attempt to practice the present Buharinomics economy might not be good for Nigeria economy. Pls n pls convert your gains n profits into $\€/£ before the expected recession happens.
Message, i am trying to pass to you is that we should all embrace investment diversity.

Good point BUT..........

Some people bought GTB and even in dollar terms they are still better off.

Important things is to buy into a GROWING company that is properly managed!

Why I will join others to blame the CBN, NSE and SEC is because as regulators, they are supposed to make sure the companies are fair in their dealings. They are not called regulators to only collect fines and others, but for checks and balances to boost investors' confidence.

pluto09:



It is really surprising to me how people will blame NSE,CBN and everyone else for their misfortune in the stock market and see nothing wrong in investors buying shares of dead companies.

Krisuba:


Wicked souls. So if I package saw dust as detergents with the knowledge of NAFDAC and sell it to the citizens. U will say y citizens buy instead of blaming the authorized watchdogs??

Na wa ooo.

Even when CBN/SEC were crying about NOSPETCO, people were still investing in that 'oil company'. When it collapsed they blame CBN, SEC banks etc! Noone accepted responsibility for investing in a pyramid scheme

dipoolowoo:
Why I will join others to blame the CBN, NSE and SEC is because as regulators, they are supposed to make sure the companies are fair in their dealings. They are not called regulators to only collect fines and others, but for checks and balances to boost investors' confidence.

What do you expect the regulators to do?

CB regulate the banks and made a promise that depositors will NOT lose their money. CBN did not promise the shareholders anything.

NSE is a market where you come and sell. CAVEAT Emptor applies.

SEC fines companies that did not make returns on time.

People that bought SKYE on Friday knew that

1) SKYE was sick
2) SKYE has not released result for many quarters

The shareholders of SKYE attends the AGM and shower praise on the board and management.

The shareholders have members represented on the audit committee so they have 'insight' into the accounts.

The shareholders are aware that they can lose money in their investment.

Actually it is the shareholders that need to be more responsive and active. They should stop going to AGM just to get AGM gifts. They need to hold the their directors accountable.

BUT if you are a 'trader', it is just a trade that went BAD.

If there is any lesson, I think people need to come up with their criteria for buying a stock.

veecovee:


Easy dear, your mates are about to make 20% from uacn of just last week. Its a matter of timing.

Yes I know of election bear, but common sense tells me that all the monthly candles can't remain red till next year February.

Time yourself very well and take your profit or lost when due before the main bear.

Cheers

how?

the stock don crash....maybe the sale of your small units cause the collapse


pls refrain from making most useless yeye companies seem good investments on this forum...you came a wrote the stock is doing 20% just when it was opened and few units traded ....in the next 5 minuts the stock fell 15% ...whats the agenda? to misguide the gullible to following you...


that uacn you speak of they are finished company...the stock will go towards N 5 soon...


even a gala will be more expensive than stock of that useless company

wanaj0:


What do you expect the regulators to do?

CB regulate the banks and made a promise that depositors will NOT lose their money. CBN did not promise the shareholders anything.

NSE is a market where you come and sell. CAVEAT Emptor applies.

SEC fines companies that did not make returns on time.

People that bought SKYE on Friday knew that

1) SKYE was sick
2) SKYE has not released result for many quarters

The shareholders of SKYE attends the AGM and shower praise on the board and management.

The shareholders have members represented on the audit committee so they have 'insight' into the accounts.

The shareholders are aware that they can lose money in their investment.

Actually it is the shareholders that need to be more responsive and active. They should stop going to AGM just to get AGM gifts. They need to hold the their directors accountable.

BUT if you are a 'trader', it is just a trade that went BAD.

If there is any lesson, I think people need to come up with their criteria for buying a stock.

But oga, is a relevant regulatory body not suppose to call into question the corporate governance of a publicly quoted company that continue to report decline or abysmal financial state of its affairs including huge debts, eg Japaul, Oando, investigate, and if found wanting take actions by either suspending its board, CEOs, or better still, trading of the shares in the floor pending improvement in the state of that company's affairs? to protect potential investors from buying even though they too need to be cautious too.
Is that not part of its function as a regulatory body eg SEC?

deepsuk:
how?
the stock don crash....maybe the sale of your small units cause the collapse
pls refrain from making most useless yeye companies seem good investments on this forum...you came a wrote the stock is doing 20% just when it was opened and few units traded ....in the next 5 minuts the stock fell 15% ...whats the agenda? to misguide the gullible to following you...
that uacn you speak of they are finished company...the stock will go towards N 5 soon... even a gala will be more expensive than stock of that useless company

I'm honestly taking your posts on stocks serious now.
Keep it up dear.

Oya o! lets move on from Skye Matter..... It is well..

Please is Morgan working. Nor receiving any signals hereoo. How is market breath??

Mpeace:
Bonanza gang right now. Just waiting for the right time.

Lol

Now, what is now the need for the submission of financial statements to industry regulators? Is it not to ensure they are clean before being approved and released to investing public?

Asides that, when issues like the Skye Bank happens, those who wrecked havoc on failed firms are supposed to be punished, but does that happen here?

The implication is that more people will continue to steal from shareholders with the believe that nothing will happen to them and at the end, the it is the minority shareholders that bear the brunt.

Regulators need to wake to block these holes. Govt is supposed to protect its citizens from unnecessary losses.

wanaj0:


What do you expect the regulators to do?

CB regulate the banks and made a promise that depositors will NOT lose their money. CBN did not promise the shareholders anything.

NSE is a market where you come and sell. CAVEAT Emptor applies.

SEC fines companies that did not make returns on time.

People that bought SKYE on Friday knew that

1) SKYE was sick
2) SKYE has not released result for many quarters

The shareholders of SKYE attends the AGM and shower praise on the board and management.

The shareholders have members represented on the audit committee so they have 'insight' into the accounts.

The shareholders are aware that they can lose money in their investment.

Actually it is the shareholders that need to be more responsive and active. They should stop going to AGM just to get AGM gifts. They need to hold the their directors accountable.

BUT if you are a 'trader', it is just a trade that went BAD.

If there is any lesson, I think people need to come up with their criteria for buying a stock.

Morgan working perfectly.
Did anyone contact them on their Skye account issue? Seems it doesn't affect account holders.

maishai:
Oya o! lets move on from Skye Matter..... It is well..

I tire o.

The bank has only changed name. Let's wait and see what the new management has to offer.

What will be, will be.

Krisuba:


Wicked souls. So if I package saw dust as detergents with the knowledge of NAFDAC and sell it to the citizens. U will say y citizens buy instead of blaming the authorized watchdogs??

Skye bank did not release any result to the public in the last two years. So what was the package that people were buying? Stock market all over the world is not for the uninitiated, if anyone wants to do well with stocks , one has to take responsibilities for his actions/inactions.

Na fly wey no dey hear word dey follow dead body enter grave. Whether it is the regulators or the shareholders who are to blame for the Skye Bank fiasco it is your responsibility to monitor your investments/positions.

DO NOT IGNORE WARNING SIGNS!!!

Some stocks have been flashing warning signs as discussed severally here.

On SKYE BANK, there's really NO point arguing over who should've been more proactive between the shareholders and the regulators.
...U all are RIGHT on the points raised.
The SHAREHOLDERS need to understand that INVESTING IS RISK and do more to equip themselves with the necessary 'weaponry' by acquiring the needed KNOWLEDGE and DISCERNMENT to make better investment decisions while also been vigilante and responsive on the companies they invest in.
...this is why u are an INVESTOR !!

On their part, the REGULATORS also need to be more PROACTIVE and RESPONSIVE to the needs for PROTECTING the investing community. They need to be far more ACTIVE than they currently are. They must be more accountable.
...this is also why they are REGULATORS !! Its the ONLY print to what defines them. Thats why they exist.

EVERYONE HAS A ROLE TO PLAY, so no point trying to lay a greater weight of blame on one side of the divide.

The argument if any, should rather be on WHAT LESSONS CAN BE LEARNT FROM THE SKYE DEBACLE and WHAT MEASURES NEEDS TO BE TAKEN BY BOTH SIDES OF THE DIVIDE (shareholders & regulators) TO PREVENT A REPETITION, AND ENSURE MORE PROACTIVENESS GOING FORWARD !!

Regards.

jamace:
I tire o. The bank has only changed name. Let's wait and see what the new management has to offer. What will be, will be.

The chairman don talk, oya make we 'suspend' any discussion on skye till futher notice. Discussion adjourned....

Mcy56:

The chairman don talk, oya make we 'suspend' any discussion on skye till futher notice. Discussion adjourned....

I second this motion

Eehhmm, house is Courtville healthy?
Because with 200k, I fit buy over 1 million units. They are releasing results as at when due, though them dey make tasere profits.
Shebi it's share price can't go below 20k?

I can't come & be defending my actions like Mcy56 over Skye Land bank

Mpeace:
Abegi. na today we start hear melt down? Talk another thing pls. Pple have been shouting meltdown since 2014

OK ooo in 2025 you will tell us about your experience in 2018 meltdown. Anyway the warning is coming from Jimoh
Apart from global meltdown, election economy meltdown is ongoing.

Not willing to accept responsibility for one’s recklessness means one still got a long way to go.
The day I was buying my Skye I saw “Missing Regulatory Filling” (MRF).. It was not there for no reason, it was there to let me know something ain’t alright and whatever is missing is goddamn important and i needed to see it before making any moves on Skye.
MRF was a warning to me but I ignored it.

When I see a bad result and still went head and buy that company’s stock, na my fault not the regulator not NSE
When there’s no results and there’s a warning but still went ahead to buy, na my fault double portion.

If tomorrow diamond bank disappear with my money I go come dey blame regulators ? No..the only person I fit manage vex for small na dozie.

Please let’s let Skye Rest In Peace jeje and move on

Yayira:


Election and skye news not doing enough justice now is economic melt down ?
Keep up the good work..

Bonanza period loading

Chibuking81:

Bonanza period loading

Continue the good work

owoblow77:
I can't come & be defending my actions like Mcy56 over Skye Land bank

See stone!
Better stay away from courtville, I cannot come and be reading plenty pages here again o.

Words of wisdom. This post is worth it's weight in gold. No wonder Agba likes you

Yayira:
Not willing to accept responsibility for one’s recklessness means one still got a long way to go.
The day I was buying my Skye I saw “Missing Regulatory Filling” (MRF).. It was not there for no reason, it was there to let me know something ain’t alright and whatever is missing is goddamn important and i needed to see it before making any moves on Skye.
MRF was a warning to me but I ignored it.

When I see a bad result and still went head and buy that company’s stock, na my fault not the regulator not NSE
When there’s no results and there’s a warning but still went ahead to buy, na my fault double portion.

If tomorrow diamond bank disappear with my money I go come dey blame regulators ? No..the only person I fit manage vex for small na dozie.

Please let’s let Skye Rest In Peace jeje and move on

Yayira:
Not willing to accept responsibility for one’s recklessness means one still got a long way to go.
The day I was buying my Skye I saw “Missing Regulatory Filling” (MRF).. It was not there for no reason, it was there to let me know something ain’t alright and whatever is missing is goddamn important and i needed to see it before making any moves on Skye.
MRF was a warning to me but I ignored it.

When I see a bad result and still went head and buy that company’s stock, na my fault not the regulator not NSE
When there’s no results and there’s a warning but still went ahead to buy, na my fault double portion.

If tomorrow diamond bank disappear with my money I go come dey blame regulators ? No the only person I fit manage vex for small na dozie.

Please let’s let Skye Rest In Peace jeje and move on

https://www.premiumtimesng.com/business/business-news/285181-nse-suspends-trading-on-skye-bank-shares.html
Change of ownership is not complete bye bye Janet. Suspension of Skye bank share trading on the floor of the exchange is not the end of the road, once the suspension is lifted, their share will only go down, maybe to around 40kobo - 20kobo before picking up again, this time under Polaris Bank.

When Intercontinental and Oceanic bank was acquired, both their shareholders forms part of the shareholders of their new bank.
But come to think of it, who is the owner of the newly Polaris Bank? Nigeria government and its politics.