In Africa you use money to chase money..

Yayira:
In Africa you use money to chase money..

what of in the western world?

Stocks with new 52 week lows
Guinness #48.50k Champion brew #1.01k Nascon #16.25k

Yayira:


Unless there’s another meaning to JIJO but if it’s the one I know, it simply means buying a stock without analyzing the stock well or selling a stock without enough reason why you should

What you painted above is not JIJO but GA. A professional JIJOist uses a combination of TA, FA and SA, and any stock could be used. For example, look at ETI which delivered 30% for JIJOists with this week alone, JAPAUL also gave 36% for JIJOists between last week and this week. Those who condemn JIJO are usually not thrilled by such low percentage profits but aim at 100% or even more on a stretch.
A dyed-in-the-wool JIJOists doesn't even mind a percentage profit of 5% net of the broker's fees.

aremso:


what of in the western world?

Things are done differently.. because the system is not F up.. and people respect the law...
I’m talking of dividend oo

Deadlytruth:


What you painted above is not JIJO but GA. A professional JIJOist uses a combination of TA, FA and SA, and any stock could be used. For example, look at ETI which delivered 30% for JIJOists with this week alone, JAPAUL also gave 36% for JIJOists between last week and this week. Those who condemn JIJO are usually not thrilled by such low percentage profits but aim at 100% or even more on a stretch.
A dyed-in-the-wool JIJOists doesn't even mind a percentage profit of 5% net of the broker's fees.

My brother, Let’s forget about this JIJO matter jare.. whatever works, do it..
na caverton dividend I Dey find solution for now.. ..
help me with solution..

Intendy:
Stocks with new 52 week lows

Guinness #48.50k
Champion brew #1.01k
Nascon #16.25k

Guiness going the way of wapco...................I can see the pattern.................it will get to #10 in the next 2 years

Yayira:



Lolzz @ “you can Ji but find it impossible to Jo”

You might jump in and gain 5% today and 5% tomorrow, 5% in the third day. And luck will run out from one, and he will enter to jump out again targeting 10%, only for the door of that stock to close with 3 straight lose of 10% making it 30%. Then one will be looking for any available chance to escape. And after about a week the same company will regain back 40% after dropping the impatient passengers.

Sometimes jijo pay, but on serious note it makes one miss opportunities, because it involved patience. But most of the jijo participant lack patience, which makes them to adopt it as their strategy. For instance Seplat is currently dancing 540 to 500 (with #5 million one can buy 10 thousand unit at #500 per a unit and at #520 he/she is selling it for #5.2 million, #200k gain) but the point is that you may succeeded in two trip in 0ne/two weeks, then next line of action is to see it at one or two drop to #400 per a share, and this will present another opportunity for other jijo group to buy and offer for sale at #420 with #80 discount.

And it might be when the Zenith is selling at #18, and one ended up to bail out @ 450 shading some weight to enter Zenith at #18, only to see Zenith back to #21 without gaining entrance, and Seplat at #520.

More so, jijo always give back all their earning once the bear strike. And it usually frustrated them out from the market for two or three months. But an investors never panic, instead he keep on buying monthly with particular money budgeted for stock, whether stock fall or rise he must buy from sound fundamental stocks, at long long he/she will be at winning side.
At a time I ask God to deliver me from jijo mentality, which he has done. Stock jijo makes one a stock gambler equivalent to nairabet
From Chibuking.

https://punchng.com/breaking-sec-orders-oando-gceo-wale-tinubu-others-to-resign/

oando bus passengers dont sleep wit 2 eyes close ooo cos driver wants to leave the sit oo

Yayira:


My brother, Let’s forget about this JIJO matter jare.. whatever works, do it..
na caverton dividend I Dey find solution for now.. ..
help me with solution..

Unfortunately I don't have solution as I stopped hunting dividends since 2013 due to the fact that dividend hunting problems seem 'solutionless'.
You saw the comment in which I recently expressed ignorance on the relocation of EDC Registrars. That tells you how far away I have become from dividend world.

aremso:
https://punchng.com/breaking-sec-orders-oando-gceo-wale-tinubu-others-to-resign/

oando bus passengers dont sleep wit 2 eyes close ooo cos driver wants to leave the sit oo

https://www.sunnewsonline.com/forensic-audit-sec-sacks-bars-oando-ceo-deputy-for-5yrs/
In the other news, they are sacked.

Forensic audit: SEC sacks, bars Oando CEO, deputy for 5yrs
…It's a welcome development say shareholders

31st May 2019 in National
Forensic audit: SEC sacks, bars Oando CEO, deputy for 5yrs

Uche Usim, Abuja

The Securities and Exchange Commission (SEC) has finally concluded forensic investigations of Oando Plc over underhand dealings and directed among others the resignation of the affected board members.

The Commission also barred the company’s Group Chief Executive Officer (GCEO), Mr Wale Tinubu and his Deputy Group Chief Executive Officer (DGCEO), Omamofe Boyo from being directors of public companies for a period of five years.

SEC’s decision has been described as a most soothing and welcome development by the shareholders of the company who have relentlessly protested against the board remaining in place when a forensic audit was ongoing.

SEC also directed the convening of an Extraordinary General Meeting on or before July 1, 2019, to appoint new directors.

These among others, SEC stated, are part of measures to address identified violations in the company.

According to SEC, “Following the receipt of two petitions by the Commission in 2017, investigations were conducted into the activities of Oando Plc (a company listed on the Nigerian and Johannesburg Stock Exchanges).

“Certain infractions of Securities and other relevant laws were observed. The Commission further engaged Deloitte & Touche to conduct a Forensic Audit of the activities of Oando Plc.

“The general public is hereby notified of the conclusion of the investigations of Oando Plc. The findings from the report revealed serious infractions such as false disclosures, market abuses, misstatements in financial statements, internal control failures, and corporate governance lapses stemming from poor board oversight, irregular approval of directors’ remuneration, unjustified disbursements to directors and management of the company, related party transactions not conducted at arm’s length, amongst others”.

SEC also directed the payment of monetary penalties by the company and affected individuals and directors, and refund of improperly disbursed remuneration by the affected Board members to the company.

As required under Section 304 of the Investments and Securities Act, (ISA) 2007, the Commission said it would refer all issues with possible criminality to the appropriate criminal prosecuting authorities.

In addition, the SEC stated that other aspects of the findings would be referred to the Nigerian Stock Exchange (NSE), Federal Inland Revenue Service (FIRS), and the Corporate Affairs Commission (CAC).

“The Commission is confident that with the implementation of the above directives and introduction of some remedial measures, such unwholesome practices by public companies would be significantly reduced.

“Therefore, in line with the Federal Government’s resolve to build strong institutions, Boards of public companies are enjoined to properly perform their fiduciary duties as required under extant securities laws” the statement added.

The Commission, as the apex regulator of the Nigerian capital market, maintains its zero tolerance to market infractions, and reiterates its commitment to ensuring the fairness, integrity, efficiency and transparency of the securities market, thereby strengthening investor protection.

Shareholders of the embattled oil company told Saturday Sun that they will mobilize their members to ensure a new management favourable to them will be constituted.

“This is a good development. This is what we have always yearned for”, a shareholder who craved anonymity stated.

In 2018, the shareholders called for the suspension of the top management and board officials to make room for a thorough and hitch-free forensic audit, in their quest to ascertain the level of rot embedded in the business.

They called on the National Assembly to mandate both the then Minister of Finance, Mrs. Kemi Adeosun and the Acting Director General of the Securities and Exchange Commission (SEC), Abdul Zubair to flush out the management to allow for an interrupted audit.

The Chairman, Trusted Shareholders Association of Nigeria, Alhaji Mukhtar Mukhtar, wondered why the government will leave the management of a company it investigated and found to have engaged in underhand dealings to remain in office during a forensic audit.

“How can you leave a management you investigated and found to have issues to clear on the saddle during a forensic audit. It’s never done anywhere. They are to be suspended pending the duration of the audit and if they are without blemish, they return but if guilty, let the law take its course.

“We all remember the former SEC DG who insisted on this forensic audit, they leveled some allegations against him and he was suspended pending the outcome of the Administrative Panel of Inquiry. Why can’t the Oando management be suspended? This smells of bias and we worried about it.

“Now, an acting SEC DG has been appointed but he seems scared to insist that the management be suspended pending the audit outcome. They said the audit is continuing but nothing is happening and we are here to put pressure on regulatory authorities to do the needful

tritritri:



CP fair price for NB ...is 93 okay?

currentprice:


not gona discourage u from buying but all i know is NB is currently trading @ 50% premium based on their latest report

i will not near the stock. not at this time

chai! see prediction o from N180 straight to N93. yet I still believe Nb selling at premium of 50%. chai! appears bedsheet is doing well

what is the price today self?

onegentleguy:
On OANDO, if I have to put out my findings from both their YE 2017 and Q1 2018 report, some folks will be shocked !!
In truth, that coy is of a negative Fair Value. ...that is the bitter truth.
Some persons are excited, but they seem to be unaware that the acclaimed Q1 2018 result is even worse than the YE 2017 which they already know was bad.

Here are a few of the alarming highlights:

- The company has in excess of an over 170 Billion on short term facilities. ...the big worry here is that they utilized the proceeds in financing longer term projects. ...and so this will continue to pile up the already immense pressure on finance cost. This is a clear case of funding mismatch and management incompetence.
-Oando has an approx 200 Billion in negative Retained Earnings.
...now lets try and extrapolate that figure;
Going by a 19 Billion PAT from the group, assuming that run rate is maintained (...which I very much doubt given current metrics), then it would have to take a 200/19 Yr time frame, which is about 10 years before this coy can ever pay a dividend.
Except they try to neutralize this from their Share premium A/c. But then again the company is seriously cash striped. ...No wonder they had to dispose of an airline asset taking a nearly 40% haircut.
-The company is seriously struggling to meet up with its obligations to the banks. ...currently, there is an over 120 Billion loan that were restructured with a moratorium on interest. ...and ur guess is as good as mine on what will happen when those interest are capitalized.
-from their YE report, the coy practically has zero revenue, while Admin expense, Opex and Finance cost continues to jump astronomically.
-The downstream arm of business, which would've aided revenue is virtually sold as Oando owns just a minot 5% with Vitol now running the show. ...even the upstream segment is been planned for a sale in other to offset their huge debt burden.
The sale of their downstream business segment and venturing into a very complicated upstream segment, are to me 2 of their greatest undoing.

The clear truth is that there will continue to be a huge strain on Cash Flow plus a very shaky efficiency. ...add that to the far less than sound management in the coy, and it becomes 'a what u see is what u get scenario'.
With all these, u do not need a soothsayer to tell u why the auditors at Ernest & Young have consistently been issuing a caveat on doubts surrounding Oando as a going concern for 3 years now.
But folks will likely pay lip service to that.

Money could be made, but more money will likely be lost.
The key lies in be been extremely VIGILANTE !!
...because the downside risk can well surmount any financial gain.
If u must be a part of the Oando 'movie', then speculate and trade but do not key in with the mindset of an investor.
...so u don't get caught up in the web.
May that not be our lot !!

NOTE: This analysis is strictly result driven and not an interpretation for any sort of recommendation. ...DD still advised as always pls.

...my 2 cents.

The cable is reporting that the SEC has just barred Mr Wale tinubu from being a director of any public company for the next 5 years.

https://www.thecable.ng/breaking-sec-bars-wale-tinubu-director-public-company-five-years/amp

I have always said that OANDO under Mr Wale tinubu is nothing short of a scam !!
Folks will remember the analysis above, when I warned that investors should stay off this coy.
There seems to be a worrying trend here.

A brief;

2 yrs ago, the SEC led by the DG, Mr Gwarzo uncovered some very dirty insider deals, smeared with gross cooperate misgivings and mis-governance by OANDO.
To back that up, the coys auditors re-echoed its worry over the firms going concern... but then, also issued a stiff cautionary warning to any intending stakeholder.
Following some coperate investigation, the coys security was suspended from trading, and a forensic audit ordered to probe the matters arising at the time.
Fast forward to 5 months from then(@ the time of the said audit), and the SEC DG was suspended by a former minister known to be loyal to the 'heavyweights within the oando circle'.
Almost immediately, the coy started putting out a spate of better finnancial prints(beginning with H1 2018).
Now the court's have reinstated the suspended SEC DG(Mr Gwarzo) following the resignation of the said minister a few months ago.
Well, ur guess is as good as mine on what may likely play out going forward. It's not for nothing that the SEC has now taken the above mentioned action against Mr Wale. ...more may likely follow.
U also do not need a soothsayer to explain the reason behind the sharp pullback(on the back of an above average volume) in price today.

This coy is synonymous to 'a weighty chaff' with no good in sight. It's the perfect definition of the level of rot and fraud by some of our manager's in the coperate world and mirrors well, everything that is wrong with the Nigerian system.

I have since said that OANDO is a sell, and I still maintain this.
Unless u are 'the man who can see tomorrow', its best to stay off that coy and remain on the side line. ....until such a time when the rot called the current managers are no longer there, and there is a clear direction on a change in tide. !!
A word they say, is enough for the ...

CAVEAT: Pls do well to read thru my signature below.

Chibuking81:

https://www.sunnewsonline.com/forensic-audit-sec-sacks-bars-oando-ceo-deputy-for-5yrs/
In the other news, they are sacked.

Forensic audit: SEC sacks, bars Oando CEO, deputy for 5yrs
…It's a welcome development say shareholders

31st May 2019 in National
Forensic audit: SEC sacks, bars Oando CEO, deputy for 5yrs

Uche Usim, Abuja

The Securities and Exchange Commission (SEC) has finally concluded forensic investigations of Oando Plc over underhand dealings and directed among others the resignation of the affected board members.

The Commission also barred the company’s Group Chief Executive Officer (GCEO), Mr Wale Tinubu and his Deputy Group Chief Executive Officer (DGCEO), Omamofe Boyo from being directors of public companies for a period of five years.

They should be barred for life and prosecuted.

aremso:
https://punchng.com/breaking-sec-orders-oando-gceo-wale-tinubu-others-to-resign/

oando bus passengers dont sleep wit 2 eyes close ooo cos driver wants to leave the sit oo

Finally, it has come to pass.

aremso:
https://punchng.com/breaking-sec-orders-oando-gceo-wale-tinubu-others-to-resign/

oando bus passengers dont sleep wit 2 eyes close ooo cos driver wants to leave the sit oo

After company don go moribund
They should be behind bars

aremso:


what of in the western world?

you use money to pay bills

Thank God!!! Wale did not escape judgement... He should be in jail when further probe is carried out after he leaves office.

Also all the deals he carried out after the purchase of Connoco Phillips assets should be reversed. They ripped Oando into pieces.

He is a classic example of the rot, greed and evil the Tinubu's are perpetrating... Same way His mentor Tinubu is milking Lagos dry!

After taking money from the Italian investor and millions of innocent Nigerians dey turned the company against them and divested from all the lucrative businesses Oando had, leaving an empty shell.

Let God punish anything Tinubu and their offspring!!!

stcool:
Thank God!!! Wale did not escape judgement... He should be in jail when further probe is carried out after he leaves office.

Also all the deals he carried out after the purchase of Connoco Phillips assets should be reversed. They ripped Oando into pieces.

He is a classic example of the rot, greed and evil the Tinubu's are perpetrating... Same way His mentor Tinubu is milking Lagos dry!

After taking money from the Italian investor and millions of innocent Nigerians dey turned the company against them and divested from all the lucrative businesses Oando had, leaving an empty shell.

Let God punish anything Tinubu and their offspring!!!

i think this is a gudnews for the shareholders.

tritritri:


i think this is a gudnews for the shareholders.

Not just a good news it's also a big relief...Wale finished Oando. The evil he perpetrated there cannot be estimated.

Let us have a list of the banks that gave them loans... Because everything Oando has published under it's books cannot be trusted.

All figures in its books are tampered with and cannot represent the true state of the company.

Numerous she'll companies in Canada, Bahamas, Offshore this,Offshore that....I feel like crying when I remember Oando from an ordinary petrol station to owning shell companies in Cyprus, Bahama, Canada

Yet the actual shareholders had little or nothing they could do but to wait on justice to prevail. Finally!!!

stcool:
Thank God!!! Wale did not escape judgement... He should be in jail when further probe is carried out after he leaves office.

Also all the deals he carried out after the purchase of Connoco Phillips assets should be reversed. They ripped Oando into pieces.

He is a classic example of the rot, greed and evil the Tinubu's are perpetrating... Same way His mentor Tinubu is milking Lagos dry!

After taking money from the Italian investor and millions of innocent Nigerians dey turned the company against them and divested from all the lucrative businesses Oando had, leaving an empty shell.

Let God punish anything Tinubu and their offspring!!!

You said it all..many shareholders lost their hard earned money

stcool:


Not just a good news it's also a big relief...Wale finished Oando. The evil he perpetrated there cannot be estimated.

Let us have a list of the banks that gave them loans... Because everything Oando has published under it's books cannot be trusted.

I think the SEC DG also has a stake or maybe he's a boy to Mangal ..dis is just a beginning btw tinubu and Mangal. let see if buhari will come in.

Indeed a big relief.. Oando shareholders will be so happy..
would like to know what happens after
Would sec be the one to appoint a new ceo ? Or shareholders ? What will happen to the stock? Will it be place on suspension again?

Yayira:
Indeed a big relief.. Oando shareholders will be so happy..
would like to know what happens after
Would sec be the one to appoint a new ceo ? Or shareholders ? What will happen to the stock? Will it be placed on suspension again?

The shareholders I think... Serious mobilization will start over the weekend.

lancee:





you use money to pay bills

Then better to use money to chase money

This is Part 1 Scene 1 of another O and O saga. Watch out as the episode unfolds.

stcool:


The shareholders I think... Serious mobilization will start over the weekend.

Ok.. a new dawn..
what’s your take on buying the stock? Lol I mean since the weeds has been pulled out, wouldn’t it be wise to take position ? Before stew begin flow

Was that a double top for oil?

Yayira:


Ok.. a new dawn..
what’s your take on buying the stock? Lol I mean since the weeds has been pulled out, wouldn’t it be wise to take position ? Before stew begin flow

I would love to but again you know the Tinubu Wale and Co never gives up!

Until after the EGM and new board constituted... I will wait and watch. The stock may go on bid for some days! The Normally NSE and brokers chopping

stcool:


I would love to but again you know the Tinubu Wale and Co never gives up!

Until after the EGM and new board constituted... I will wait and watch. The stock may go on bid for some days! The Normally NSE and brokers chopping

Thought as much.. the bid go strong..
Ok.. make I follow you wait and watch..

SEC Sacks Tinubu, Other Oando Board Members for Infractions
https://businesspost.ng/2019/05/31/sec-sacks-tinubu-other-oando-board-members-for-infractions/

Indebtedness: Honeywell Floors Ecobank in Court
https://businesspost.ng/2019/05/31/indebtedness-honeywell-floors-ecobank-in-court/

Honeywell Suit: Ecobank to Appeal Judgement
https://businesspost.ng/2019/05/31/honeywell-suit-ecobank-to-appeal-judgement/

aremso:


Then better to use money to chase money

Hopefully ..will get there ...money working 24/7