YoungDaNaval:
Baba leave MBA out of this biko. My millions dey there oh

You are my friend,be very careful with that thing.
I can't lie to you.

TransAtlanticEx:
You are my friend,be very careful with that thing.
I can't lie to you.

Ego ka anyi ji achu ego my guy. Happy Sunday

Afr0mentalist:

In a proper functioning capitalist country, the president has little to no influence on the central bank. The central bank has to be independent to avoid major conflict of interests. And there is a proven and observed high Positive correlation Between the the level of independence of a central bank and the strength of the economy and it serves.

I did agree with your predictions though, and wondered how you met criticism here.

Well true,I agree with you that the central bank should be independent,but it is very hard to maintain that stance.
Politics is very powerful ooo bros.

RayRay06677:


Thanks sir, speculation wasn't my thing, as for stocks, I grew up were fortunes were loss in the 90s on stocks, it's still affecting me but I know I will do critical assessment before trying it. My story is that am not a regular investor, I have a paying job. No time to engage in any other thing apart from dumping money and getting interest or profit and must be capital secured. The forex thing is that I've watched from sideline for too long while boys dey pick. I want take risk. If I don't and it continues the next one year then I won't like myself but if 5m walks, I will console myself which I already did before giving them my money. Even drank to it with my best man who did everything to stop me but like fly wet want die, I still dey follow dead body. Atleast, av contributed to the yahoo world in my lifetime.

as one man once told me..

"I like your belief"

YoungDaNaval:
Ego ka anyi ji achu ego my guy. Happy Sunday

Great!so long as you know the risks then no shaking.
Happy sunday.

Lazyyouth4u:
Sir, the bolded is the point I have been making since. They overpaid for the company and not that the company is a cash cow that is being used to siphon money . They can’t make their money back from asset stripping because frankly the assets are not attractive/valuable and they can’t make enough from revenues/collections to recoup their investments. This is what will happen to any one that makes the mistake of acquiring the NNPC refineries with Dangote in the picture.

$150 million was N27 billion when they made the investment at N180 to $1. Meaning the whole business was valued at N45 billion in 2013.

A business with revenue of about N100 billion , but with recorded revenue of N65 billion for 7 years. The core Investor earning management service fees of about N800 million. Non technical employee cost of over N5 billion for the past 7 years, while technical workers employee cost is just 10% of that. Who does that? A DISCO needs more of engineers and technicians, than marketers, lawyers, accountants and admin workers.



Forget it, anything can happen with creative accounting.

TransAtlanticEx:
Well true,I agree with you that the central bank should be independent,but it is very hard to maintain that stance.
Politics is very powerful ooo bros.

In most advanced and capitalistic countries it is to a very large extent.

You know what happens in shitholes like Nigeria and other African countries ? Come election Time, the political leadership make moves to increase the money mass so as to have additional liquidity for their bribing and elections aims. With the direct consequence that after elections the following economic semesters are usually met with higher inflation and contraction of the economy.

This is just one example of how a servile central bank brings ruin to an economy. A president should have no power to direct The policy of a central bank governor.

seankafor:
as one man once told me..

"I like your belief"

Darlington my boy. Success in your just concluded waec exams. Hope you registered for neck too

I bow o but I don’t care to be honest. I think they both had an issue and she didn’t want to quote the original post and decided to quote the one where he was ‘attacking’ me.

Afr0mentalist:

Let’s put name calling aside, how do you rationally explain that conversation ?

Trans attacked you and that lady replied using the first person.

Afr0mentalist:

In most advanced and capitalistic countries it is to a very large extent.

You know what happens in shitholes like Nigeria and other African countries ? Come election Time, the political leadership make moves to increase the money mass so as to have additional liquidity for their bribing and elections aims. With the direct consequence that after elections the following economic semesters are usually met with higher inflation and contraction of the economy.

This is just one example of how a servile central bank brings ruin to an economy. A president should have no power to direct The policy of a central bank governor.

I am not in support of politics having influence over the central bank,you know this.
But I was just pointing out to how difficult it would be for the 2 entities to be mutually exclusive.
One will always influence the other,just that in Africa it is worse and the sovereignty of their respective central banks are greatly compromised.

TransAtlanticEx:
Great!so long as you know the risks then no shaking.
Happy sunday.

Every business is a risk bro. I stocked up my late dad's shop with 1m and put my youngest bro there to be in charge of it. Could you believe when I returned from work in a space of 6months I found the shop empty No goods, no money. Even 5naira I no see. Baba say make I no vex, say na mismanagement Nwanne no business or investment is risk free. Onwero Eve odi easy

YoungDaNaval:
Every business is a risk bro. I stocked up my late dad's shop with 1m and put my youngest bro there to be in charge of it. Could you believe when I returned from work in a space of 6months I found the shop empty No goods, no money. Even 5naira I no see. Baba say make I no vex, say na mismanagement Nwanne no business or investment is risk free. Onwero Eve odi easy

To put money in any business and sit back is always bad.
Sorry about your loss.

RayRay06677:


Thanks sir, speculation wasn't my thing, as for stocks, I grew up were fortunes were loss in the 90s on stocks, it's still affecting me but I know I will do critical assessment before trying it. My story is that am not a regular investor, I have a paying job. No time to engage in any other thing apart from dumping money and getting interest or profit and must be capital secured. The forex thing is that I've watched from sideline for too long while boys dey pick. I want take risk. If I don't and it continues the next one year then I won't like myself but if 5m walks, I will console myself which I already did before giving them my money. Even drank to it with my best man who did everything to stop me but like fly wet want die, I still dey follow dead body. Atleast, av contributed to the yahoo world in my lifetime.

As a fundamentalist, you spend less time doing stock analysis. You are less concerned with day to day movement of stock prices.
You only get busy when companies release their quarterly/ annual reports.
Most of us on NSEMPA also have our full time job,the most important thing is the interest.

By the way,I also lost money just like many others in stocks back in 2007/08.
By seeking knowledge, I have recovered what I lost in many folds.

Sir, how do you know they made revenue of about N100 billion and only recorded N65 billion over the 7 years? Is that just an assumption or based on facts? . A management service fee of 800m is just USD2m. It will take them forever to recoup their investments with an acceptable IRR if they were depending on this to make up for dividends they can’t receive because of the losses. I haven’t checked but I will guess that this amount is what goes to Korean Electric as the O&M partner. I will double check.

I get the point you are making about creative accounting sha. Only time will tell.

By the way, I think CBN got involved in their collections because of the loans they gave to the DISCOs.

emmanuelewumi:


$150 million was N27 billion when they made the investment at N180 to $1. Meaning the whole business was valued at N45 billion in 2013.

A business with revenue of about N100 billion , but with recorded revenue of N65 billion for 7 years. The core Investor earning management service fees of about N800 million. Non technical employee cost of over N5 billion for the past 7 years, while technical workers employee cost is just 10% of that. Who does that? A DISCO needs more of engineers and technicians, than marketers, lawyers, accountants and admin workers.



Forget it, anything can happen with creative accounting.

TransAtlanticEx:
To put money in any business and sit back is always bad.
Sorry about your loss.

So what would you suggest to someone with the nature of my job nna

YoungDaNaval:
So what would you suggest to someone with the nature of my job nna

Buy land inside town and use your money build commercial house,e get why
30m go fit run this package,it looks impossible but when you start,everything will fall into place.

Lazyyouth4u:
I bow o but I don’t care to be honest. I think they both had an issue and she didn’t want to quote the original post and decided to quote the one where he was ‘attacking’ me.

What original issue and which original post ? TransatlanticEx never quoted her and she specifically referred to this here conversation / issue of Ponzi.

Maybe you are her are one and the same, maybe you are not, but at this point and given the fact evidence available you can’t blame people for believing you are one and the same with that Lady Enyinne.

I have no idea what their original issue was and I don’t care to be honest.

You have a very fair point sha. But I have said we are not the same person. People can go ahead and believe what ever they want to believe . I don’t mind at all because I am not here to gain acceptance in a faceless forum.

Afr0mentalist:

What original issue and which original post ? TransatlanticEx never quoted her and she specifically referred to this here conversation / issue of Ponzi.

Maybe you are her are one and the same, maybe you are not, but at this point and given the fact evidence available tou can’t blame people for believing you are one and the same with that Lady

Mr TransatlanticEx, would you be kind enough to help clear up this small puzzle.
What other post (perhaps in another thread) was ezinne referring to?

Afr0mentalist:

What original issue and which original post ? TransatlanticEx never quoted her and she specifically referred to this here conversation / issue of Ponzi.

Maybe you are her are one and the same, maybe you are not, but at this point and given the fact evidence available you can’t blame people for believing you are one and the same with that Lady Enyinne.

Have you seen this? If Dangote and BUA refineries are going to succeed, the NNPC refineries may not be attractive to investors.

https://nairametrics.com/2020/09/01/bua-group-chooses-french-giant-axen-for-its-multibillion-dollar-refinery-project/

emmanuelewumi:


$150 million was N27 billion when they made the investment at N180 to $1. Meaning the whole business was valued at N45 billion in 2013.

A business with revenue of about N100 billion , but with recorded revenue of N65 billion for 7 years. The core Investor earning management service fees of about N800 million. Non technical employee cost of over N5 billion for the past 7 years, while technical workers employee cost is just 10% of that. Who does that? A DISCO needs more of engineers and technicians, than marketers, lawyers, accountants and admin workers.



Forget it, anything can happen with creative accounting.

Lazyyouth4u:
Sir, how do you know they made revenue of about N100 billion and only recorded N65 billion over the 7 years? Is that just an assumption or based on facts? . A management service fee of 800m is just USD2m. It will take them forever to recoup their investments with an acceptable IRR if they were depending on this to make up for dividends they can’t receive because of the losses. I haven’t checked but I will guess that this amount is what goes to Korean Electric as the O&M partner. I will double check.

I get the point you are making about creative accounting sha. Only time will tell.

By the way, I think CBN got involved in their collections because of the loans they gave to the DISCOs.

I just read the auditors report. There are doubts on the going concern ability of the company, I am sure that is what is obtainable with all the DISCOs. The business will have to be recapitalized and the shareholding structure will be altered

Financial result was audited 12 months after the financial year, this is another red flag. Not a company with an up to date financial records.

The 12 months gap gives more than enough room for creative accounting.

Companies on the Nigerian Stock Exchange are expected to have an audited report within 3 to 4 months, this is different from the unaudited quarterly reports that are made public 2 weeks after the quarter

pluto09:


As a fundamentalist, you spend less time doing stock analysis. You are less concerned with day to day movement of stock prices.
You only get busy when companies release their quarterly/ annual reports.
Most of us on NSEMPA also have our full time job,the most important thing is the interest.

By the way,I also lost money just like many others in stocks back in 2007/08.
By seeking knowledge, I have recovered what I lost in many folds.

Hope you will be available to lecture me when am Ready for stocks, for now am going one at a time

Does anyone here live in Abuja?

emmanuelewumi:



I just read the auditors report. There are doubts on the going concern ability of the company, I am sure that is what is obtainable with all the DISCOs. The business will have to be recapitalized and the shareholding structure will be altered

Financial result was audited 12 months after the financial year, this is another red flag. Not a company with an up to date financial records.

The 12 months gap gives more than enough room for creative accounting.

Companies on the Nigerian Stock Exchange are expected to have an audited report within 3 to 4 months, this is different from the unaudited quarterly reports that are made public 2 weeks after the quarter

This company is not listed on the NSE and is not obligated to make their financial statements available to the public at all, talk less of within any time frame.

Who is the company doing creative accounting for? There are only 3 shareholders in the company who should be on top of goings on in the company. Creative accounting would only make sense for companies listed on the stock exchange where the investing public mainly rely on the financial statements to know how the companies are performing as they cannot be directly involved in the management and governance of the companies.

At least we can agree that the DISCOs are not doing well and that the investors have overpaid and are currently not on track to recoup their investments and make returns. For them to start making profits, tariffs have to be adjusted and collections improved. Still not sure how you can confidently say that they have made N100bn in revenues but recorded only N65bn. Maybe you have some inside information.

YoungDaNaval:
Ego ka anyi ji achu ego my guy. Happy Sunday

It may end in premium tears

RayRay06677:


Hope you will be available to lecture me when am Ready for stocks, for now am going one at a time

When you are ready.
In the mean time,there are good books out there you can be playing around with even if you are not ready. Learning is a long life process. All of us are still learning..

V bank is paying 14% per annum on fixed deposits, has anybody here done businesses with them before?

arduino:

It may end in premium tears

No wahala bro. We move

pesty100:
V bank is paying 14% per annum on fixed deposits, has anybody here done businesses with them before?

Which one is v bank

I'm still confused and find it hard to believe that the Mr. Ray that just emerged is the same as Mr. Barrytone. I had to go back to read all his previous posts that generated tens of likes again, and then the new ones regarding risking ''XYZ'' amount in Forex which he also described as Ponzi himself!

Inside life...orisirisi nkan lo n sele .

Honestly, ayam not understanding .

Someone should wake me up and tell me Mr Ray is an imposter.

It is a bank that was being promoted by Cubana Chiestfpriest around May 2020 and they use to offer 20k when you open account with them. They are a microfinance bank and the fixed deposit rates arre ;
30-60 days - 8.5 %
61 - 90 days - 9.0 %
Up to 180 days - 11 %
Up to 365 days - 14 %
They said they are backed by NDIC. I'm not sure how much cover that gives an investor if they default in paying customers, i think the discussion here a few days ago mentioned N500k, someone should correct or confirm this.

RayRay06677:

Which one is v bank

When the currently most profitable bank in naija, ZIB, is giving maximum interest of 0.5% for deposits of 200m and above and 0.4% for anything below, i become suspicious of any MFB offering 14%. Are they a wonder bank? Better park your cash with a regulated asset management company o.