thebargainhunte:
The reality is about to set in.

https://www.google.com/amp/s/www.ccn.com/dow-jones-stimulus-rally-crushed-with-terrifying-coronavirus-reality/

The reality has already been set in. what is happening is the traders who bought 3 days ago are the ones booking profits today going into the weekend.

Bomboclad:
For those who don't understand how market sentiments work, look @ the rise in Sterling Bank even after a 3kobo dividend announcement that some think is very disappointing.

It's called your one customer bank for a reason

Bomboclad:
The DOW still flying upwards, good fortune for those of you trading US stocks.

Up 6.4%. Some stocks have done 100% already. Don't know why I am on the NSE

Some REITS have done 250% in just 3 days! Crazy bull!!

Why would Aiico and Jaiz bank be doing better than wema bank in price and volumes

My Ogas, what do you think about this commentary below? I got this from a WhatsApp group. It painted a scary scenario for Nigeria

It is already happening. About 70 cargoes are currently stranded - no buyers. Nigeria is currently offering a $5 discount which means we are selling at a loss. Major problem is that we are no longer a low cost producer like back in the days when most of our oil was produced from onshore and marginal fields. Now the bulk of our oil comes from expensive deep sea offshore oil wells - bringing our average oil production cost to $17 per barrel. Meanwhile Saudi produces at $2.8 - $5 on the average and is offering $8 - $10 discount per barrel. Russia produces at $15 but has solid foreign reserves of $500bn/$600bn.

I understand that most IOCs, including Shell, are now considering scaling back their capes- which of course affects our future production capacity. NNPC has said that if oil price continues to tank from this level, Nigeria will stop selling because it will be at a massive loss.

Without export proceeds, we have only FDI and FPI to fund our fast declining foreign reserves. Unfortunately foreign investors are heading out amid fears around Nigeria's bleak macro prospects.

Therefore we are heading for a situation worse than 2015. We have massive Eurobonds that need to be serviced. Our currency is overvalued - fair value is from 425/$. We are also heading into a negative real interest rate environment. A combination of these two factors will make Nigeria very unattractive to foreign investors - just like in 2015. Unfortubately CBN does not have the kind of latitude it had in 2015. Our debt service cost to revenue ratio is already overstretched at above 50%. We cannot even issue the new Eurobonds we need to issue because yield on our existing Eurobonds has gone up to 15% levels - almost reflecting a potential default.

Worse still we have to manage a deadly combination of Lassa and Coronavirus. The prognosis is really scary. In 2008/2009 we had a financial crisis. Today we have a deadly Health crisis and a bigger Financial crisis rolled into one.

My advice. Avoid taking on any FX obligation if you can. Pray fervently for Russia, Saudi and OPEC+ to come back together, and for a cheap and effective vaccine or cure for Coronavirus to be found

DexterousOne:

Our problem as Nigerians (Old and young) is that most of us dont have the common sense to put things in perspective

Since you had to go there:

Let's go over the untruths you've been spouting out of your chronic TDS, shall we?

DexterousOne:

To allowing under your watch 90% of your medical supplies and drug come from China (which btw you have marked as a trade adversary and slammed tariff after tariff)
To refusing to invoke the defence production act
To disbanding the medical emergency response team

To defunding the CDC

1. He has been screaming about China since 2016. He even started a god damn Trade War that the so-called "experts" called a bad idea. Not to forget that the transfer did not start under his watch but in the 80's and continued unabated under every US President both Rep and Dem. But I guess, it's always Trump's fault.

2. He has invoked the DPA. His administration is already using it to break up knots in the supply chain and empower the DOJ to go after hoarders. You wouldn't know about that because you get your information from the MSM who have an incentive to downplay such information. Also, the private sector is going over and beyond, so there's no point forcing them to do something they're already doing on their own accord. He is using the DPA as a Sword of Damocles.

3. The entire government global pandemic response team was bloated. Trump is a Republican. His party favors less government not more. The administration streamlined the team under Bolton so everything was under one roof. Departments rearrange organs and directorates all the time. https://www.reuters.com/article/uk-factcheck-trump-fired-pandemic-team/partly-false-claim-trump-fired-pandemic-response-team-in-2018-idUSKBN21C32M

4. He did not defund the CDC. The budget of the CDC has increased under Trump.


I'm sure your so-called list comprises of even more fallacy and fake news!

May God never allow a demagogue like Trump lead my Nigeria

He gave us Buhari who is hiding from the cameras. Your god must be a sadist!

Now he is saying that things should be normal by Easter Sunday even when his medical advisers are singing the opposite
He is still insisting

His medical advisers only care about tackling the coronavirus pandemic. Trump was elected to do what's best for the country so he looks at the big picture. Three million people have already lost their job. That's more than four times higher than the previous record of just north of 650,000 people in the 80's. Some analysts are projecting up to 20 million people will lose their jobs.

The US economy has been struggling to maintain a 2-3% GDP growth. Some analysts are talking about a -8% drop in just one quarter. To put that in perspective, The Great Depression in the 30's lasted 4 years, GDP fell 15%. Those numbers are scarier than coronavirus to anyone with a modicum of knowledge of economics. The longer the shutdown lasts, the longer and harder it'd take to restart; and the more misery that'd follow.

You can look at the Coronavirus infections/death counter and think that's bad; wait for the after-shock. You don't want to find out what people would do when they're desperate and the economy has gone to sh*t. That's what he's trying to prevent. Even during WWII, the US did not shutdown. This is not just a once-in-a-century pandemic. This is the first truly once-in-a-century global pandemic in the age of unfettered globalism where everything is interconnected. This is not the Middle Ages where you can just shut the city gate and wait out a seige when an invading enemy bears upon you. Stimulus has already exceeded 6T. The economic cost of this pandemic will exceed 20T when this has all blown over. That's money that's never coming back in losses or money borrowed from future generations. Oh and the lock down is just starting, with some "experts" expecting it to last until 2022.

So of course he is insisting, because he is seeing reports and estimates that'd make you send your kids to a bunker.

Germany is doing a good job in containing this.
And Britain to an extent

First off, apologies to any German Nigerian or Nigerian residing in Germany. But f*ck Germany.

They're the defacto leaders in the EU and bear as much blame as China in the spread of the virus. While the US, South Korea, Singapore, Hong Kong, and more countries were shutting their doors to China to contain the spread. Germany, the EU, and WHO were parroting CCP propaganda that closing the borders was xenophobic. Even Biden called Trump a xenophobe when he closed the border to China.

Meanwhile, the virus was festering in Europe, and they were exporting it to the rest of the world. Most infections around the world did not come from China, but from Europe that served as a petri dish because they refused to abandon their globalist utopia until it was too late. The outbreak in US, even here in Nigeria, was majorly from Europe. And when Trump belatedly closed the borders with them because of their errant stupidity, they raised their arms. Two days later, they did the exact same thing they should have done from the start.

Now, Germany is categorizing deaths from coronavirus differently than other countries to deflate their mortality rate.

As for the UK, I have nothing to stay. At first, they wanted to try to boost "herd immunity". A foolish idea under the circumstances and only went for the lock down when a UK paper examined the human cost of that mad science experiment.

Aside the European factor, the other major reason for the outbreak in the US is that the CDC bungled testing. Yes, that same CDC that had been receiving more funds made a hash of everything. Sending faulty reagents to labs across the country and taking weeks to "fix" things. And not to excuse the FDA with all their ridiculous red tapes. Maybe Trump should have reigned in on the bureaucrats earlier, but he trusted the so-called "experts" to fix their own mess; and they categorically failed.

The only countries that have done well in managing the crisis are China, South Korea, Hong Kong, Singapore, and Israel. The last three are small nations. China is China. South Korea is on another level that it's almost insulting to compare any Western nation to them. When you literally have an enemy country (North Korea) on your border position 15,000 artillery cannons and rocket launchers at your country, and same enemy country develop nuclear weapon to use on you, your crisis preparedness from the government to the kid in a public school would be at a stratospheric level.

Trump has aced the coronavirus response. And the lamestream media is truly an enemy of America. You literally have them discrediting a promising drug combination they had previously reported about just because Trump said it was worth taking a look at. Who needs enemies when you have citizens who want a drug combination that worked in France not to work in the US because they hate the President.

If you're going to reply this, you better have your ducks in a row and not spout another factually untrue talking point from the DEMOCRAT-MEDIA complex who are exploiting a global pandemic for their nefarious agenda. This is not r/politics.

Circling back to my first sentence. I was going to read and ignore until you tried to pass off your own ignorance (or as you call it 'inability to apply common sense') on Nigerians who have their own National Disgrace to worry out. Don't make that mistake again. Everybody eye dey red.

-Lord

S&P downgrades Nigeria to junk rating, as India cuts interest rates
By Olumide Adesina -March 27, 2020

https://nairametrics.com/2020/03/27/sp-downgrades-nigeria-to-junk-rating-as-india-cuts-interest-rates/

amustsuccess:
Good day Investors!

I presently run an account with my analog brokers, and plan to open another with Morgan.

Can I run two accounts at the same time?


Thanks!

Yes as many as you want, but pls use your existing CHN for the new accounts

is it possible to merge 2 CHN ?

Enyinne:
Today I was charged 400 to $1 by Stanbic ibtc for an online transaction using my naira card . Nigeria is sinking

No, it's not. It's a global crisis and this is not peculiar to Nigeria.

shrink007:
is it possible to merge 2 CHN ?

You'd request for a transfer of your account from one house to the other one.

Then one account will be discontinued.

LokosoUK:
My Ogas, what do you think about this commentary below? I got this from a WhatsApp group. It painted a scary scenario for Nigeria

It is already happening. About 70 cargoes are currently stranded - no buyers. Nigeria is currently offering a $5 discount which means we are selling at a loss. Major problem is that we are no longer a low cost producer like back in the days when most of our oil was produced from onshore and marginal fields. Now the bulk of our oil comes from expensive deep sea offshore oil wells - bringing our average oil production cost to $17 per barrel. Meanwhile Saudi produces at $2.8 - $5 on the average and is offering $8 - $10 discount per barrel. Russia produces at $15 but has solid foreign reserves of $500bn/$600bn.

I understand that most IOCs, including Shell, are now considering scaling back their capes- which of course affects our future production capacity. NNPC has said that if oil price continues to tank from this level, Nigeria will stop selling because it will be at a massive loss.

Without export proceeds, we have only FDI and FPI to fund our fast declining foreign reserves. Unfortunately foreign investors are heading out amid fears around Nigeria's bleak macro prospects.

Therefore we are heading for a situation worse than 2015. We have massive Eurobonds that need to be serviced. Our currency is overvalued - fair value is from 425/$. We are also heading into a negative real interest rate environment. A combination of these two factors will make Nigeria very unattractive to foreign investors - just like in 2015. Unfortubately CBN does not have the kind of latitude it had in 2015. Our debt service cost to revenue ratio is already overstretched at above 50%. We cannot even issue the new Eurobonds we need to issue because yield on our existing Eurobonds has gone up to 15% levels - almost reflecting a potential default.

Worse still we have to manage a deadly combination of Lassa and Coronavirus. The prognosis is really scary. In 2008/2009 we had a financial crisis. Today we have a deadly Health crisis and a bigger Financial crisis rolled into one.

My advice. Avoid taking on any FX obligation if you can. Pray fervently for Russia, Saudi and OPEC+ to come back together, and for a cheap and effective vaccine or cure for Coronavirus to be found

my brother, the most important thing right now is life.....lets pray we come out of corona unscampered..........im so happy right now im in the village, im surrounded by food and fuel......sucking sheri mango as i speak to you with the smell of roasted corn coming from firewood fire boiling esuru for tomorrow...............

Where there is a will there is a way.............. no one really cares about the money but what it can buy...

Pls why did uba not pay dividend today?

LokosoUK:
My Ogas, what do you think about this commentary below? I got this from a WhatsApp group. It painted a scary scenario for Nigeria

It is already happening. About 70 cargoes are currently stranded - no buyers. Nigeria is currently offering a $5 discount which means we are selling at a loss. Major problem is that we are no longer a low cost producer like back in the days when most of our oil was produced from onshore and marginal fields. Now the bulk of our oil comes from expensive deep sea offshore oil wells - bringing our average oil production cost to $17 per barrel. Meanwhile Saudi produces at $2.8 - $5 on the average and is offering $8 - $10 discount per barrel. Russia produces at $15 but has solid foreign reserves of $500bn/$600bn.

I understand that most IOCs, including Shell, are now considering scaling back their capes- which of course affects our future production capacity. NNPC has said that if oil price continues to tank from this level, Nigeria will stop selling because it will be at a massive loss.

Without export proceeds, we have only FDI and FPI to fund our fast declining foreign reserves. Unfortunately foreign investors are heading out amid fears around Nigeria's bleak macro prospects.

Therefore we are heading for a situation worse than 2015. We have massive Eurobonds that need to be serviced. Our currency is overvalued - fair value is from 425/$. We are also heading into a negative real interest rate environment. A combination of these two factors will make Nigeria very unattractive to foreign investors - just like in 2015. Unfortubately CBN does not have the kind of latitude it had in 2015. Our debt service cost to revenue ratio is already overstretched at above 50%. We cannot even issue the new Eurobonds we need to issue because yield on our existing Eurobonds has gone up to 15% levels - almost reflecting a potential default.

Worse still we have to manage a deadly combination of Lassa and Coronavirus. The prognosis is really scary. In 2008/2009 we had a financial crisis. Today we have a deadly Health crisis and a bigger Financial crisis rolled into one.

My advice. Avoid taking on any FX obligation if you can. Pray fervently for Russia, Saudi and OPEC+ to come back together, and for a cheap and effective vaccine or cure for Coronavirus to be found

Crude cannot be stranded. They are bought in futures.

As the post alluded, buyers may start to underprice it. Worst that can happen is for buys to buy low and stock up in hope of recovery where when they can now refine at a higher profit.

The IOC had nothing much to lose. Our crude sold at any rate must meet the contractual obligations.

It's the citizens that are in trouble and it's due to our direction-less leadership.

gold360:
Pls why did uba not pay dividend today?

No idea. However, i'd like to know who has paid dividend since this Corona thing got serious.

1kinggy:


You'd request for a transfer of your account from one house to the other one.

Then one account will be discontinued.

Thanks

1kinggy:


No idea. However, i'd like to know who has paid dividend since this Corona thing got serious.

ok, but it doesnt make sense to use 5 billuion 4 fighting corona when u ve not paid ur shaehholders

Stock with new 52 week lows
NB #25.50k

There is a cycle that has played out in this two stocks twice now, zenith and ubcapital.The third will not miss me out.Zenith @ sub #10 it will fire to #12.50 and ubcapital at sub #2.00 and it will fire to #2.50.This is cool money for those who have done it twice with good capital.This has been a sure bet

Biafran4life:
There is a cycle that has played out in this two stocks twice now, zenith and ubcapital.The third will not miss me out.Zenith @ sub #10 it will fire to #12.50 and ubcapital at sub #2.00 and it will fire to #2.50.This is cool money for those who have done it twice with good capital.This has been a sure bet

I pray cycle will repeat one more time

Biafran4life:
There is a cycle that has played out in this two stocks twice now, zenith and ubcapital.The third will not miss me out.Zenith @ sub #10 it will fire to #12.50 and ubcapital at sub #2.00 and it will fire to #2.50.This is cool money for those who have done it twice with good capital.This has been a sure bet

I took part in this second one, Zenith.
Bailed out today at 12.65.

I actually bought many at 10.90 to bring down my BEP from the old that got stuck

Now waiting for the next wave next week as offers exceeded bids today.

UBA's Chief Risk Officer/Director Loads Additional Stocks
https://businesspost.ng/banking/ubas-chief-risk-officer-director-loads-additional-stocks/

Stanbic IBTC Fixes Scrip Dividend Price at N24.79
https://businesspost.ng/banking/stanbic-ibtc-fixes-scrip-dividend-price-at-n24-79/

S&P Lowers Nigeria’s 2020 GDP Growth Forecast to 1.5%
https://businesspost.ng/economy/sp-cuts-nigerias-2020-gdp-growth-forecast-to-1-5/

NDIC Assures Bank Customers Safety of Deposits
https://businesspost.ng/banking/ndic-assures-bank-customers-safety-of-deposits/

CBN, Others Seek N120bn to Fight COVID-19
https://businesspost.ng/economy/cbn-others-seek-n120bn-to-fight-covid-19/

Freight Forwarders Beg FG to Waive Demurrage Charges
https://businesspost.ng/general/freight-forwarders-beg-fg-to-waive-demurrage-charges/

Union Bank Donates N50m to Procure COVID-19 Testing Kits
https://businesspost.ng/banking/union-bank-donates-n50m-to-procure-covid-19-testing-kits/

Don't Invest in MBA Forex, Box Value, Helping Hand, Now-Now Alert, Others—SEC Warns Nigeria
https://businesspost.ng/economy/dont-invest-in-mba-forex-box-value-helping-hand-now-now-alert-others-sec-warns-nigerians/

COVID-19: CSCS Goes Fully Digital, Begins Remote Operations
https://businesspost.ng/economy/covid-19-cscs-goes-fully-digital-begins-remote-operations/

WHO officials enroll first patients from Norway and Spain in ‘historic’ coronavirus drug trial
.
..
...

https://www.cnbc.com/2020/03/27/who-officials-enroll-first-patients-from-norway-and-spain-in-historic-coronavirus-drug-trial.html

Enyinne:
Today I was charged 400 to $1 by Stanbic ibtc for an online transaction using my naira card . Nigeria is sinking .

That's about the worst card to use for online transaction. Their charges are always higher. GTB card charges seems better.

freeman67:


That's about the worst card to use for online transaction. Their charges are always higher. GTB card charges seems better.

I want to believe gtb is one of the best if not the best for online transaction but they all might have adjusted their rate upwards....... And it might still go up in the coming days.

Somewhat credible claim has it that an investor who uses wealth.ng got UBA dividend.

Does anyone here use that website and own UBA?

pluto09:



I want to believe gtb is one of the best if not the best for online transaction but they all might have adjusted their rate upwards....... And it might still go up in the coming days.

That's true.

IYGEAL:
Somewhat credible claim has it that an investor who uses wealth.ng got UBA dividend.

Does anyone here use that website and own UBA?

What has the website got to do with dividend payment?

leo1234:


What has the website got to do with dividend payment?

Since the investor who claimed to have received UBA dividend uses it; I'm trying to establish if there is a correlation. Maybe they paid their users in advance or something.

Bomboclad:
For those who don't understand how market sentiments work, look @ the rise in Sterling Bank even after a 3kobo dividend announcement that some think is very disappointing.

Sterling Bank has announced plans to raise up to N30 billion in its series 1&2 commercial paper program. The series 1 &2 are with a tenor of 177 and 260 days respectively, with an effective yield of 7.5percent and 8percent while the discount rate stands at 7.23percent and 7.56percent respectively.

According to the bank, the offer opened on Wednesday 25 March and would close on Monday 30th March 2020.
The bank has a long term rating of BBB from Global Credit Rating (GCR) and a BBB+ rating from DataPro Limited. Also, a short term rating of A3 from CGR and A2 form DataPro.
Sterling Bank joins the list of corporates taking advantage of low-interest rates to raise cheaper short term debt.

https://businessday.ng/companies/article/sterling-bank-commences-n30bn-commercial-paper-programme/amp/

BARGAIN HUNTERS TAKE NOTE and DON'T BE LEFT OUT!

My Oga’s ,Happy weekend. Pls what’s your take on Nestle price if I want to purchase it at the current rate.Do u think the price will go lower given the economic situation and impending recession. Kindly advise me as I want to buy small unit . Thanks

Enyinne:
My Oga’s ,Happy weekend. Pls what’s your take on Nestle price if I want to purchase it at the current rate.Do u think the price will go lower given the economic situation and impending recession. Kindly advise me as I want to buy small unit . Thanks

Depends on what you want.
For price appreciation, I think it is okay but for dividend yield the likes of UBA, Zenith, GTB,WAPCO etc are better.