Mcy56:
GTB is slowly, gradually moving ....19.15 now
Zenith trailing behind....14.20......
Both still looking up......
May rub green on others if they keep moving.....

stcool:
https://www.bloomberg.com/amp/news/articles/2020-04-24/oil-s-meltdown-crushes-independent-crude-pruducers-in-nigeria?__twitter_impression=true

Nigerian lenders also threatened due to $8 billion exposure
Prolonged low crude prices risk sparking a banking crisis


The rout has been bad for all the country’s producers but the pain has been particularly acute for the independents who mostly acquired assets about six years ago. Unlike oil majors operating in the country, whose average cost of producing is about $22 a barrel, these companies need between $35 to $40 a barrel if they are to stay in business.

Big Debts

Nigeria’s independents pump roughly 400,000 barrels a day out of the nation’s average daily output of about 2 million. However, they account for almost 90% of the 3 trillion naira, or $8 billion, of all debts owed by companies producing oil in Nigeria, mostly of it to local banks. While a portion of the loans are hedged at as much as $50 a barrels, the bulk aren’t, raising the risk of a default that’s been exacerbated by the threat of production halts because of the dire state of the market.

The oil price crash has also had an impact on the Nigerian banking industry, where at least a third of all loans were made to the nation’s oil drillers, according to central bank data. Many say their customers are hedged, even if the full extent of that protection is unclear.

Nigerian lenders are carefully reviewing the situation. A prolonged low-price regime may even trigger a full blown banking crisis, said Aderonke Akinsola, banking analyst at Lagos-based Chapel Hill Denham.

“We expect banks to proactively restructure vulnerable oil and gas facilities and we believe they will also take advantage of the regulatory forbearance given by the central bank to cushion the impact of weaker assets,” she said. If prices stay below $30 for as long as six months, then “we cannot rule out the possibility that some banks may not survive that.”

austinkenneth:


I'm normally optimistic. But this is actually scary news.

pluto09:




We should be careful not to take assumptions and insinuations as facts.
Some of the things mentioned in the report are assumptions and not facts..
For instance, there is no empirical evidence to show that our body mechanism and weather give us an edge in Africa,they are all assumptions.
What we know is that the virus arrived late in Africa and it will be too early to make any conclusion until we see the end of the pandemic. God help us.

stcool:
https://www.bloomberg.com/amp/news/articles/2020-04-24/oil-s-meltdown-crushes-independent-crude-pruducers-in-nigeria?__twitter_impression=true

Nigerian lenders also threatened due to $8 billion exposure
Prolonged low crude prices risk sparking a banking crisis


The rout has been bad for all the country’s producers but the pain has been particularly acute for the independents who mostly acquired assets about six years ago. Unlike oil majors operating in the country, whose average cost of producing is about $22 a barrel, these companies need between $35 to $40 a barrel if they are to stay in business.

Big Debts

Nigeria’s independents pump roughly 400,000 barrels a day out of the nation’s average daily output of about 2 million. However, they account for almost 90% of the 3 trillion naira, or $8 billion, of all debts owed by companies producing oil in Nigeria, mostly of it to local banks. While a portion of the loans are hedged at as much as $50 a barrels, the bulk aren’t, raising the risk of a default that’s been exacerbated by the threat of production halts because of the dire state of the market.

The oil price crash has also had an impact on the Nigerian banking industry, where at least a third of all loans were made to the nation’s oil drillers, according to central bank data. Many say their customers are hedged, even if the full extent of that protection is unclear.

Nigerian lenders are carefully reviewing the situation. A prolonged low-price regime may even trigger a full blown banking crisis, said Aderonke Akinsola, banking analyst at Lagos-based Chapel Hill Denham.

“We expect banks to proactively restructure vulnerable oil and gas facilities and we believe they will also take advantage of the regulatory forbearance given by the central bank to cushion the impact of weaker assets,” she said. If prices stay below $30 for as long as six months, then “we cannot rule out the possibility that some banks may not survive that.”

eziokwunwoko:
Sir OGG,
But PAT,EPS decrease.i am confused

onegentleguy:


I couldn't find the link to the 2 articles I read in the past on how the make-up of the body mechanism of Africans give them a slight edge as it concerns covid-19.
...one of which I recall, was even from a medical journal.
Will post it as soon as I can find it.

On the part about the role the wheather(high temperature) plays in cushioning the impact of the virus, there is NO doubting that. ...Google is ur friend.
Even in the western world, they are praying that summer comes in earnest.(even POTUS and Dr fauci mentioned it in one of their press briefing)
Different scientists have also emphatically stated that the current impact from the virus wouldn't have being much felt if the breakout hadn't started out around the winter period. They say the wheather would have at least helped limit the level of impact on humans. ...again, Google is ur friend !!
That's what has played out in Africe my dear.

ebuka1997:
House please I had Mtn before the qualification date and I still have it now, I didn’t fill e dividend form can I fill it now and still get dividend paid to me?

onegentleguy:


I couldn't find the link to the 2 articles I read in the past on how the make-up of the body mechanism of Africans give them a slight edge as it concerns covid-19.
...one of which I recall, was even from a medical journal.
Will post it as soon as I can find it.

On the part about the role the wheather(high temperature) plays in cushioning the impact of the virus, there is NO doubting that. ...Google is ur friend.
Even in the western world, they are praying that summer comes in earnest.(even POTUS and Dr fauci mentioned it in one of their press briefing)
Different scientists have also emphatically stated that the current impact from the virus wouldn't have being much felt if the breakout hadn't started out around the winter period. They say the wheather would have at least helped limit the level of impact on humans. ...again, Google is ur friend !!
That's what has played out in Africe my dear.

And by the way, ur argument that the virus started out late in Africa holds no water. ...because there are also some European and Asian countries where the virus got in after it was recorded in a few African countries, but where cases are now far more than the said African countries.
...to illustrate:
EGYPT was the 1st African nation to witness the virus on the 15th of February, 4 days before IRAN witnessed their 1st case on the 19th, and weeks before a few countries in Europe(Sweden etc) and Latin America recorded their 1st case. Brazil reported it 1st case on the 26th of Feb.
Today all of those countries have far more positive cases and lower recovery rate than EGYPT. This is even when most of these countries have more sophisticated Medicare system in place than Africa.(with IRAN much worse)
...and u don't know why?
Maybe u should tell us that its no longer because the virus came in late to Africa but because we are just lucky.
...u probably don't understand why Ghana recorded just 9 deaths with 99% recovery rate and have since opened up their economy.

Una no dey gree read.

The write-up in that report holds a lot of water.
...any smart investor should look to inculcate it as part of a handy guide to investing. ...but of course, u can seek to broaden and refine it in line with ur goals.

Selah.

onegentleguy:


I couldn't find the link to the 2 articles I read in the past on how the make-up of the body mechanism of Africans give them a slight edge as it concerns covid-19.
...one of which I recall, was even from a medical journal.
Will post it as soon as I can find it.

On the part about the role the wheather(high temperature) plays in cushioning the impact of the virus, there is NO doubting that. ...Google is ur friend.
Even in the western world, they are praying that summer comes in earnest.(even POTUS and Dr fauci mentioned it in one of their press briefing)
Different scientists have also emphatically stated that the current impact from the virus wouldn't have being much felt if the breakout hadn't started out around the winter period. They say the wheather would have at least helped limit the level of impact on humans. ...again, Google is ur friend !!
That's what has played out in Africe my dear.

And by the way, ur argument that the virus started out late in Africa holds no water. ...because there are also some European and Asian countries where the virus got in after it was recorded in a few African countries, but where cases are now far more than the said African countries.
...to illustrate:
EGYPT was the 1st African nation to witness the virus on the 15th of February, 4 days before IRAN witnessed their 1st case on the 19th, and weeks before a few countries in Europe(Sweden etc) and Latin America recorded their 1st case. Brazil reported it 1st case on the 26th of Feb.
Today all of those countries have far more positive cases and lower recovery rate than EGYPT. This is even when most of these countries have more sophisticated Medicare system in place than Africa.(with IRAN much worse)
...and u don't know why?
Maybe u should tell us that its no longer because the virus came in late to Africa but because we are just lucky.
...u probably don't understand why Ghana recorded just 9 deaths with 99% recovery rate and have since opened up their economy.

Una no dey gree read.

The write-up in that report holds a lot of water.
...any smart investor should look to inculcate it as part of a handy guide to investing. ...but of course, u can seek to broaden and refine it in line with ur goals.

Selah.

locodemy:

For those of you who are interested in buying stocks for dividends,pls kindly follow this directions I will show you in order not to miss your dividend.some people sold their stock on the qualifying date and still get the dividend while some bought a stock on the qualifying date and miss the dividend.

kindly note that it takes T+3 for any purchased stock to settle on the registrars record book.If a company declares 10kobo dividend and give a qualifying date lets say 10th April and markdown date 11th April.If you truely need the dividend,you will need to buy the cpmpany shares on or before 7th April for your name to reclect on the registrars record on the 10th April.

Dont buy a stock on the qualifying date and hope for dividend.You will not get instead the perspn who sold his stock on the qualifying date will get the dividend.

pls be guided accordingnly.

ositadima1:
Are you holding GTB for mid/long term? If not, what is u exit price?

onegentleguy:
The days when ZENITH will narrow the previously wide chasm between its price and that of GTBANK may not be too far away.

But I still LOVE them both.
However, if both were women and I had the chance to pay their bride prices, I'd still make GT my 1st wife, and ZENITH, the 2nd.

#thechase

Mcy56:

Bros, what works for me may not work for you o.
Me I'm a short termer and besides, I don't have GTB.
GTB is better hold medium term, long term is for dividend hunters.

ExLaidback:


Normally I'd read and move on especially since this matter has been overflogged on this forum.

Bro, this is false. In this age of digitalisation it doesn't even make sense.

I had several shares of ZIB which I sold all but a few in tranches. The last sold batch was on qualifying day of March 9th. I only got div for what was left in my account as at March 9th. Didn't get shishi for the ones I sold that day. Wasn't expecting to anyway.

Any broker telling you this should be challenged. Except a registrar is just being lazy or they still employ some analogue methods which I doubt, this should never be the case.

I greet you Sir.

DeRuggedProf:
Agba will locate you too.....

DeRuggedProf:
JUST AN OBSERVATION:

Going by the FULL OFFER that UACN had a few days back, that offer has almost been mopped up now if you compute the volume so far and the few that decided not to bother selling lower again, as they could not sell at N7.5 the first full offer day, it MIGHT be closer to reversal than anticipated. I wont be surprised to see it on FB on monday, the likelihood is VERY HIGH...

NB: I don't have a single unit here and also DO NOT intend to buy. Just to provide a balanced view, cos the accusers of brethrens are among us...

DeRuggedProf:
JUST AN OBSERVATION:

Going by the FULL OFFER that UACN had a few days back, that offer has almost been mopped up now if you compute the volume so far and the few that decided not to bother selling lower again, as they could not sell at N7.5 the first full offer day, it MIGHT be closer to reversal than anticipated. I wont be surprised to see it on FB on monday, the likelihood is VERY HIGH...

NB: I don't have a single unit here and also DO NOT intend to buy. Just to provide a balanced view, cos the accusers of brethrens are among us...

Mcy56:

Yes. Fill and submit it. Once approved, you will get your dividend.
Dividend could be claim up to 10yrs back......not sure if someone can claim if it's above 10yrs.

DeRuggedProf:
JUST AN OBSERVATION:

Going by the FULL OFFER that UACN had a few days back, that offer has almost been mopped up now if you compute the volume so far and the few that decided not to bother selling lower again, as they could not sell at N7.5 the first full offer day, it MIGHT be closer to reversal than anticipated. I wont be surprised to see it on FB on monday, the likelihood is VERY HIGH...

NB: I don't have a single unit here and also DO NOT intend to buy. Just to provide a balanced view, cos the accusers of brethrens are among us...