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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4700363 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by emmanuelewumi(m): 3:10pm On Nov 28, 2020 |
Lazyyouth4u: Even Nigerian investors who bought shares of Seplat, Airtel Africa and ETI even though their financial accounts, profits, revenues, expenses were stated in dollars. Nigerian investors, who bought the shares in Naira, were paid dividends in Naira using the official rates. The CEO of Seplat was to earn dividend of $4 million but was paid in Naira using $1 to N380 or thereabout. Foreign investors who imported capital into the country were allowed to be paid in dollars. Nigerian investors who bought the GDR of GTB have not been able to earn their dividends 6 months after because of the current crisis. GDR is a dollar denominated Investment a GDR is equivalent to 10 shares of GTB and it is traded on the London Stock Exchange 2 Likes 1 Share |
Re: Treasury Bills In Nigeria by NL1960: 3:23pm On Nov 28, 2020 |
emmanuelewumi: Maybe they will buy back Investment One. I do not know why the CEO is trying to use the HoldCo to do sit tight. |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 3:31pm On Nov 28, 2020 |
NL1960: I wonder oo. As bad as First Bank is during their AGM or corporate events all the living CEOs and directors are invited and honoured. I have attended 2 AGMs of GTB, the current CEO has never invited the co-founder and founding CEO of the bank in person of Mr Fola Adeola even though the man is still alive. Investment One was a management buy out by the management and staff of the defunct GTB Asset Management Company. This is the time for them to cash out big time if GTB should signify interest in buying back the company |
Re: Treasury Bills In Nigeria by DexterousOne(m): 3:42pm On Nov 28, 2020 |
Lazyyouth4u: Okay You just watch and see |
Re: Treasury Bills In Nigeria by richforever123: 3:56pm On Nov 28, 2020 |
Lazyyouth4u: Thanks for your response |
Re: Treasury Bills In Nigeria by shalomblue: 4:12pm On Nov 28, 2020 |
One thing we can't take away from FBNH is the fact that they have been in business for over 100 years. I respect them for that and I doubt if other banks will be able to survive next 100 years because the plan of an average bank Ceo in Nigeria is to take over the bank by any means. They intentionally do not cut waste since they are not major shareholders. Only the GMD has sizeable units 2 Likes |
Re: Treasury Bills In Nigeria by ojesymsym: 4:23pm On Nov 28, 2020 |
Most Nigerian CEOs are just high budget typical Nigerians. Their major interest is always to take as much as they can from a business and not really how to add value. shalomblue: 2 Likes |
Re: Treasury Bills In Nigeria by Nobody: 4:56pm On Nov 28, 2020 |
ojesymsym:These CEOs have a huge chunk of their compensation in stocks (mainly stock options) that they can only cash out when the share price increases to a set price. Why will they not want to reduce wastage and create value to be able to sell those shares and make money? When Wigwe wanted to cut costs by reducing the size of the workforce at Access, Nigerians made a lot of noise about it. Human beings can be complicated. |
Re: Treasury Bills In Nigeria by ojesymsym: 5:06pm On Nov 28, 2020 |
I think you are mixing a CEO up with majority shareholders or chairman. I was talking about the management team of many organizations. Although I know where you are coming from since the example I initially quoted is slightly different from what I am describing. Lazyyouth4u: |
Re: Treasury Bills In Nigeria by Nobody: 5:10pm On Nov 28, 2020 |
ojesymsym:I am not mixing it up sir. CEOs are given lots of shares as part of their compensation. They can only cash out when the company’s stock reaches an agreed strike price. When you look at annual reports and see shares owned by CEOs, they didn’t buy those shares. They are stock options or shares granted as incentives to the CEOs. That’s why you sometimes see CEOs selling huge blocks of shares. In many cases, they are only exercising their stock options or selling the shares granted to them. |
Re: Treasury Bills In Nigeria by ojesymsym: 5:10pm On Nov 28, 2020 |
This is one reason why a government run organization will remain unproductive because of governments inability to reduce workforce when the business case no longer supports their employment. Lazyyouth4u: |
Re: Treasury Bills In Nigeria by ojesymsym: 5:15pm On Nov 28, 2020 |
Hmmmm. Okay. Maybe Ema can help me out here. I think there a few examples to buttress the point I am making. Oando is an example, I have had reference also made to uac mgt. I am talking about those CEOs who allocate large enumeration to themselves even when they know the business is struggling. Lazyyouth4u: |
Re: Treasury Bills In Nigeria by Nobody: 5:20pm On Nov 28, 2020 |
ojesymsym:Okay I see what you are saying. But quick question for you sir. If you were Wale Tinubu, wouldn’t you demand a huge remuneration for a company you built? In any case, these huge CEO salaries are approved by shareholders so it’s not like the CEOs just pay themselves without following due processes. |
Re: Treasury Bills In Nigeria by ahiboilandgas: 5:31pm On Nov 28, 2020 |
Bdc smiling to the bank ..........20k dollars weekly.....at 399 sold 475 ................ 3 Likes |
Re: Treasury Bills In Nigeria by handsomebolanle: 5:41pm On Nov 28, 2020 |
ahiboilandgas:495 sir... As in ehhn.... |
Re: Treasury Bills In Nigeria by speak2lift: 5:44pm On Nov 28, 2020 |
Pls could you share a link to any of these reps - perhaps a website or something? DexterousOne: |
Re: Treasury Bills In Nigeria by speak2lift: 5:48pm On Nov 28, 2020 |
As regards safety...I think personal due dilligence checks will need to be done. To open one, just reach out to your Account officer at Stanbic and ask that you want to Open an offshore account(Isle of Man) ojesymsym: |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 5:51pm On Nov 28, 2020 |
ojesymsym: Shareholding structure of First Bank is diverse and uncoordinated, nobody owns up to 5% of the bank that is about 1.6 billion shares. This has made it easy for management to ruin the bank. 2 Likes |
Re: Treasury Bills In Nigeria by Donbrig: 5:53pm On Nov 28, 2020 |
Nigeria is a total mess, our problems boils down to our absurd mentality. In the next 20yrs, we are still going to be fighting same problems as today, because we are not ready to pay a price or inconvenient ourselves for future gains. I was so ashamed to hear our VP Osinbajo saying that FG will now be patronising Naija made cars, are you not wondering why the thoughts to start patronising Naija made cars just occurred to them now that we are already in a deep recession with lots of bad economical policies? Why didn't they start patronising made in Naija cars and other local products at the very beginning of their administration as they promised during their campaigns? Nigeria will always be a joke among nations, we always wait for everything to get so bad or collapse before acting with fire-brigade approach. We prefer to solve problems under duress than prevent that problem from happening in the first place. To all Nigerians in diaspora, you guys should try to invest in your resident country abroad, Nigeria is a total waste and killer of dreams. Home cannot always be home, when home is a threat to our future and that of our children. Our leaders are not feeling the economical heat or recession. Naira devaluation doesn't affect them because their money is in dollars and Pounds. ASUU strike will never affect them because all their kids are schooling abroad. I used to be very hopeful about the future of Nigeria, but those willing to destroy the country are far more than those willing to rebuild it. Virtually every Nigerian is like a cancer to the country, greed, corruption, mismanagement, rent seeking and entitlement mentality had finally buried Nigeria. 5 Likes |
Re: Treasury Bills In Nigeria by Bakosokoto: 5:54pm On Nov 28, 2020 |
Lazyyouth4u:It is just that our labour law is weak or non-existent. Laying off staff only to replace them with contract staff and casual while declaring bumper returns is wicked. Over 60% of their workforce are casual receiving peanuts as salary. Zenith is even worse, over 80% of their IT staff are contract staff managed by one of thier big man wife (this is modern day slavery). If the banking industry had reduced workforce for via automation/ RPA there won't be noise about that. 2 Likes 1 Share |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 5:55pm On Nov 28, 2020 |
Lazyyouth4u: Nothing like that with First Bank, Access bank, Zenith bank and UBA. GTB has something registered with SEC and managed by a Trustee, whereby about 200 million shares will be used as part of employees and management compensation, there are terms and conditions guiding this The 200 million shares is less than 1% outstanding shares of GTB |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:00pm On Nov 28, 2020 |
ojesymsym: Eg UACN, the CEO salary excluding certain benefits and allowances increased from about N50 million to N120 million in 2019 at a time when the company about 50% drop in profitability. As highly indebted as Oando is, the CEO of the company still earns N600 million per annum. Higher than what the CEO of Zenith, Access Bank, UBA, First Bank and other companies making billions of Naira profit earned. The only exception are Dangote cement, MTN, Seplat whose CEOs earned more than that |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:08pm On Nov 28, 2020 |
Lazyyouth4u: Wale Tinubu never built Oando. He is one of the emergency billionaires created by Obasanjo. He took a leverage position to buy 60% shares in Unipetrol even though he was the least qualified for the acquisition. Immediately he bought FG shares, he embarked on asset stripping of the company. Unipetrol that created wealth for investors in the past started destroying wealth when the wolves took over and renamed the company Oando. Oando has not been able to pay dividends in the last 6 years or more. He took a highly leveraged and speculative position, when he bought the asset of Conoco for over $1 billion about 7 years ago, he made the purchase when crude oil was selling around $100. We should be cautiously optimistic and sober when things are going on fine, and should be optimistic and keep hope alive whenever the reverse is the case. 1 Like |
Re: Treasury Bills In Nigeria by Bakosokoto: 6:10pm On Nov 28, 2020 |
Donbrig:As late as this policy directive might have been, can they truly walk the talk? I don't trust this government a bit ,especially the VP and lai Muhammed. This govt rose to power through propaganda, falsehoods & make believe. If they can at least practice what they spit out for once, this recession might not last more than 2 - 3 quarter |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:13pm On Nov 28, 2020 |
Bakosokoto: Banks need CBN approval before they can sack their workers, some bank branches were burnt during the last end SARS this has given excuse to sack the workers in those branches because they are no longer operating and they don't plan rebuilding some of the affected branches |
Re: Treasury Bills In Nigeria by Nobody: 6:20pm On Nov 28, 2020 |
emmanuelewumi: The CEOs of listed companies are issued stock options as part of their compensation. That’s how they are incentivized to create value for shareholders. |
Re: Treasury Bills In Nigeria by Nobody: 6:21pm On Nov 28, 2020 |
emmanuelewumi:So why are the shareholders approving his salary sir? |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:26pm On Nov 28, 2020 |
Lazyyouth4u: Corporate governance in Oando is zero, they have selected shareholders who are called to move motions at AGMs |
Re: Treasury Bills In Nigeria by NL1960: 6:29pm On Nov 28, 2020 |
Donbrig: I will believe what the VP said when the FG actually starts buying the vehicles for all the ministries and parastatals. At the height of the pandemic, NASS ordered for 2020 Toyota Camry. 2 Likes |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:32pm On Nov 28, 2020 |
Lazyyouth4u: Not all listed companies in Nigeria, very few listed companies do that in Nigeria.They are well paid and they have the resources to buy more shares if they are interested. Zenith has 32 billion, GTB has 31 billion outstanding shares. I will share the list of others when I get to my library at home. Stock options incentives are included in the annual report for those who have such. Currently about 200 million shares of GTB are warehoused, registered with SEC and currently managed by a Trustee. The staff cooperative of UBA, used to have about 1 billion shares of the bank which they bought during one of the public offers of the company. UBA bought back these shares last year in a buy back scheme and the shares were cancelled from the outstanding shares of the company. Dangote cement is currently planning a share buy back 2 Likes |
Re: Treasury Bills In Nigeria by Nobody: 6:32pm On Nov 28, 2020 |
emmanuelewumi:This is interesting. But to be fair to him, if oil prices never fell, that Conoco acquisition would have taken Oando to another level. Nobody saw the drop in oil prices coming and it could have happened to anyone. I actually like the guy. |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 6:40pm On Nov 28, 2020 |
Lazyyouth4u: The risk management of the company was weak. Wale and his goons had a capital of 5% of the company Unipetrol which they bought. The first thing they did when they took over was to sell their controlling shares in the headquarters building and became a tenant in their own property. Sold a lot of juicy assets and Investments of Unipetrol, had faulty corporate governance issues and mismanagement. I wrote a petition to SEC. I wrote an article concerning Oando to all the major newspaper but it was not published, until I posted it on Nairaland and Stockmarketnigeria . Look for my old moniker to see the article I have learnt to avoid any company whose CEO is lawyer eg Oando 8 Likes 2 Shares |
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