Latest / Green Ticker Tales / Greenticker Twitter Space June 28, 2026

Transcript

Greenticker Twitter Space June 28, 2026 · Green Ticker Tales

• 1:37
  everyone and welcome to uh this week's uh printed spaces if you are new here this is a weekly uh treated space on the ngs uh the nigerian equities market um so we'll be starting at the top of the i'll be starting at 9 00 pm nigerian time in a few minutes from now as it's customary with us i would like to
• 2:06
  kick off a bit early just to get everywhere nice and good um space is recorded so if you have to drop us at some point in time uh you should be able to to listen um i'm not alone i would also have other members of the community uh join us in a bit sweet child um i'm sure nasa will be close by
• 2:35
  at some point in time. We'd also have Senko join us. So we'll be starting at 9pm, about three minutes from now. Anyone else has any questions, comments, you can drop them underneath the thread or tweet at the handle and we will do our best to answer them. So we will begin shortly. Alright, so I guess we can kick off.
• 4:21
  time is 8 59 p.m good evening everyone i hope you're well hope you're doing good um uh welcome to this week's critical space do this every sunday evening discussing nigerian equities market uh thoughts on the coming week as well as a rundown of the key points from asterix uh previous session my name is also because other members of the team
• 4:52
  St. Charles, St. Nazareth. At some point in time, I'm sure we'll have Senko and Cheryl join the space. So let's start off with last week. Last week was a rather negative week for the markets. The Aussie index declined by 1.65%. I think for a lot of the markets, a lot of focus was on it.
• 5:22
  Ardell. Ardell is an oil and gas firm. Ardell numbers came in rather late due to the acquisition of an additional stake in Engie Western. So, I mean, there was mixed views with the markets. Depends on what side of the trend you are. Some might say, well, the liquidity has been sucked out of the market. Let's see.
• 5:49
  decline in haradels and other liquid stocks you might say well maybe the markets expected a bit more from the q1 numbers whichever way it is i had a negative week last week on the markets it was also i have to show you the pool it was interesting to have the market close negative despite having a lot of big cap stocks on the gainer side of things i mean you have specials to tell africa about paying 10
• 6:19
  uh there's only one gaining 4.95 percent gt code gaining about 10.69 so you had a lot of big cap names uh on the gainer side last week but i think that was not enough uh to move the market best performing stock last week it's marketing goals by 26.47 percent to close that so it's nice to see cobalt share uh the loser side of things that's right next i'm sure i'd express nine by 26.79
• 6:49
  at close at 328 a couple of share other than the table users maybe notable for different reasons i mean for other notable obviously because of the size i felt 19 because just a bit above a thousand four hundred share uh regency alliance tried by eighteen point five percent because i said to nine cobblers at the moment the stock is trading below its uh right issue price right issue is for
• 7:20
  um right issues for 95 couple of the street answers so that will place the company in the tight spots on the listening side of things at a special listing 1.02 billion shares uh the shares are used from its um average placement and so the os outstanding shares for first old code
• 7:48
  it's now about 45.4 billion he also had a listing of a 2.2 billion electric shares and that arose from the conversion of 6.3 billion debts into equity and sooner he covered a share and so following the move outstanding shares for analytics went up from 3.85 billion to 6.1 billion
• 8:19
  So the rather dull trading week, last week. This week, I don't expect much of a difference. I think if we're lucky, we'll have a flattish or marginal decline. If we're lucky, we'll have further pullback in the markets. There's not much so far. I expect the market to trade, range trade, to maybe mid-late July. By then, we should get...
• 8:47
  second quarter numbers it's also possible and by then um we are we are inching towards the tango which has has a lot of people gathering funds many private placements alone has led to an arsenal of funds from the market so this week a couple of days ago our last week rather at the ngx events
• 9:18
  brokers but luckily it's open to the public just informing people about it uh the means what they are trying to do to to get as many brokers to come on digital applications for that public offer so the ngx will create a white label system that workers can sign up to the offer is also going to be an interesting one because
• 9:48
  it's going to be a hundred percent digital offer so we're not going to have any paper applications for that so it's going to be interesting to see the change the structure of the market uh through the offer and post the offer it's not late yet and in fact all we noticed that set has come out to caution people about the promotion of the offer because it's just been
• 10:41
  Yeah, thank you very much. Before I start, I would like
• 10:51
  nasa to give her view of the market for last week and what she's expecting for the coming week thank you hello everyone good evening am i loud and clear thank you um just like an anonymous last week was quite uneventful um when aradale drops their
• 11:23
  Q1 numbers within the week, we saw that the revenue was up by over 200%, profit after tax over 200%, and then the EPS made a little above 90%. I expected that to bring some smiles, you know, some green. However, the sell-off continued, which is quite interesting.
• 11:51
  Aname has basically said how the whole thing performed. The top gainers and losers. The only thing I'm going to add was that we saw that deep path, deepening the activity in the critical mining sector. I know that Mr. Charles has...
• 12:19
  emphasized that a couple of times. So I think they really want to watch. They finally, they officially changed their name. And then Lafarge, under the new management, the Chinese company, also changed their name. So despite the red outing, we also have some pretty, very interesting thing happening in the background.
• 12:47
  So the last thing I want to say is that, okay, so for this coming week, I don't really expect a lot. I mean, the sell-off will continue because there are no real catalysts to push things off. No results coming out. Nothing really. Nothing really. No real catalyst pushing the market. So maybe we're going to be here for a while.
• 13:13
  The only thing I'm going to say for retailers like us, other retailers, please, you don't have to be discouraged or concerned or depressed because your portfolio is not smiling. It's just temporal. Okay, just focus on other things. Focus on work, your family, your loved ones. It's part of it. Let's enjoy the flow. So I will leave it here. Thank you. Thank you very much, Nazar. Yeah.
• 13:47
  It's been a very interesting week and there's something I always say, quitters never win and winners never quit. Investing in the stock market is not a straight line. It goes up, it goes down. Some people try to time the market. Sometimes you are successful with that.
• 14:27
  and sometimes you are widely off mark. The market, all through last week, was on the downtrend. We can explain some of the things that is responsible and others are completely out of our hands. Maybe market factors are playing out and you are seeing a situation where
• 15:02
  the market is taking a breather because up to the end of May, it was less than half year, the market had done over 60%. Yeah, our ASI, Usher Index, was at the 250K mark. I think right now we are at the 232 or 238, I can't. So we've retreated a little bit, which is quite normal. Nothing goes up forever, especially in investment.
• 15:35
  And that's where investing in the capital market is different from gambling. You know, a lot of us had paper profits and a lot of us have paper losses as it is right now. So the question is, what do you do? The question is, what is responsible for this? The question is, how much longer?
• 16:07
  Are we going to be in this market? How much longer are we going to endure what is happening? And that's where the real investor in you comes out. And when I say investors, I mean those trading, those doing long term, those using technical analysis, those using fundamental analysis, those using spiritual analysis.
• 16:36
  or whatever kind of analysis you are using, the bottom line of investment is to make money. So whatever kind of analysis you use in making your investment decisions, and as long as it's working for you, I'm all for it. It's not a competition. I've always said this. The stock market is not a competition to see who is better than the other one. The moment you make it,
• 17:08
  that the market will humble you if if you've ever read the intelligent investor by benjamin graham we have a lot of examples where some investment funds slash managers became too cocky for the achievement they made in one year and they started mounting off and the very next year and some few years to come they got humbled and we see it
• 17:41
  Even in today's market, if you're in the investment world or you've been in the investment world in the last couple of years, you would have heard of Cathie Woods, a very smart woman, a very smart investor. But sometimes, too, she gets carried away, she starts talking, and the market humbles her. So the point I'm trying to make is when you go through your investment journey,
• 18:15
  and you are winning, it's not the time for you to come out and start boasting. It's not the time for you to come out and start saying you never go wrong. You predicted it. If you have followed me when I made this call, you would have been at this, you would have been at that. Because immediately you start doing that, the market will humble you. But again, I say it's no competition. At times like this, it calls for reflection. You ask yourself.
• 18:46
  What has really happened in this market? Why is the market going the way it's going? Yesterday we had a YouTube live session, totally unplanned. We just felt that we owed it to our believers. We owed it to our community members who were under a lot of pressure because a lot of people are confused. They don't know whether to...
• 19:18
  leave the market. They don't understand why the market is going down. They don't understand certain things that are happening in the market. So we felt we needed to let them know that this is normal. This is what happens in the market. And what we are even experiencing is not even like it's a crash or anything like that. Far from it. It's not like we are experiencing
• 19:48
  a black swan event like a COVID or one major catastrophe or war. Far from it. What we are seeing in the market is a kind of correction plus distortion, so to speak. And I will come to the distortion part. But the correction part is a lot of these companies have really run, you know, like I said, from the beginning of...
• 20:20
  the year to may we had already done over 60 percent or there about so there was bound to be some level of correction in the market okay so the correction was taking place and then the disruption came in the disruption came in form of the private placement being organized by the dangote refinery because
• 20:55
  Dangote is such a brand because Dangote has built this reputation. Everyone is interested in his company, especially the refinery. And he decided to do a private placement. Today we have our opportunity. We'll ask him why, what informed him of the decision to do a placement.
• 21:30
  very close to the public offer because the timing, as far as I'm concerned, was not the best. So you have a situation where everybody's interested and what now happened is a lot of people wanted to partake in the placement. But private placements are very, very different from public offers.
• 22:02
  This community can decide to do, let's say, a private placement for Green Ticker. Let's say we want to lease Green Ticker. And when we do that private placement, we are not allowed to advertise it. We are restricted to the number of investors we are supposed to have. And we are kind of exempt from SEC. So SEC cannot control everything that we are doing. We have a lot of exemptions when it comes to...
• 22:36
  raising money, how to raise money under sex regulation. It's a little bit more stringent when the company is public. But as of today, as of now, as of tomorrow, the Bangute Refinery is still private. So for some, like again, I will still need to understand why. And that's why when I see this
• 23:15
  hard knock life guy who goes to interview billionaires, he might not even be aware of what is going on. So he's coming from a different country. They just see him as billionaire. You just ask him some basic questions. But, you know, as a Nigerian, as somebody who is very interested in the industrialization of Africa, as somebody who wants to
• 23:45
  you know, make his presence felt by all Nigerians, I would have asked the question as to why he's holding a private placement so close to his public offer. Because if the private placement is holding now, he has said that the public offer will hold in September. So you have like just three months in between and you're holding the public offer.
• 24:15
  It's not like there's any rule or regulation saying that you can't do that. But let's put this into perspective. He has a brand. Everybody wants to take part in any of his businesses. Everybody wants to be part of any of his businesses. So what has happened is you are holding the private placement. You just, at the same time, you are doing the public right.
• 24:47
  for your dangote sugar, 500 billion. And then in September, the whole market will be divided to your public offer again. So almost all the money that is being sucked out of the market right now is going to one gentleman. And again, this is where regulations fail us. This is where our regulatory authorities do not...
• 25:26
  They do not think about this discritically before they allow them to happen. I just think it's an oversight because like everything that is happening around the market right now or to the point where it's happening is down to the fact that money is being taken for Dangote rights. Money is being taken for Dangote placement. Money is being kept for Dangote's IPO. And I have...
• 26:02
  a lot of misgivings about the ipo like i said uh a lot of misgivings about the private placement like i said you are restricted in number of investors when it comes to private placement you are not supposed to advise advertise your private placement but um and then some days ago this week sir came out with with uh
• 26:35
  a warning to groups, WhatsApp groups, some investors, capital market operators, warning them to desist from collecting money and advertising the IPO, that they've not approved the IPO yet and all that. But what's fake to realize is every transaction that was...
• 27:11
  taking place in respect of Dangote Refinery was not the IPO. It was in relation to the project. And I think they shirked their responsibilities. When Fermi Otodola was on live TV telling the whole world that he's going to ask his friend, who was side by side with him, Aladji Dangote, that he should keep $100 million worth of
• 27:52
  Dangote Refinery shares for him. He said they did not come out with any statement to say that was illegal. Because I don't know what form of advertisement is greater than that. He didn't need to say it. He's your friend. You don't have to come and disclose it in public. So he knew exactly what he was doing. He said they didn't come out with any statement then. When David Doe flashed the phone...
• 28:32
  On social media, everyone now knew that the price was 35 cents. I didn't see any warning. I didn't see any statement from SEC. So we had a situation, we had situations where even pension funds were granted exemptions to take part in the transaction for a company that you, if there's anybody on this platform.
• 29:07
  If there's anybody who is listening here that has seen the Dangote Refinery prospectus, please feel free to come up and speak. Even if you don't have to drop the document, just feel free. So when your pension fund starts investing in a team margin business, they are given the permission to do it. They are given the exemption to do it because it's Dangote. You know what that means.
• 29:46
  So this thing was massively advertised, massively publicized, had the whole Nigeria wanting to partake in this offer. And that alone sucked a lot of liquidity out of the market. It sucked a lot of liquidity out of the market. And which were the most affected equities?
• 30:20
  If you want to, if you're looking for liquidity in the market, you're not going to get it from Austin Labs. You're not going to get it from Beta Glass. You will get it from well-run liquid companies, especially the banks. The banks are the most liquid companies on the NGX. So what did you see? You saw a lot of beatings on the bank stocks.
• 30:57
  Not because anything has changed fundamentally. As a matter of fact, if you are going to talk about fundamentals of bank, I think our banks are stronger now. Our banks are better now. Our banks are being regulated in a more transparent manner so that any bank that is falling short is called to order by CBN.
• 31:32
  If you are going to talk about fundamentals, our banks are even stronger, but they fail the most. Why? Because they are very liquid. So after they did the private placement, they were given allocations. A lot of those people who wanted allocations were disappointed with their allocations, but they got allocations anyways. And they had deadlines to meet.
• 32:03
  to pay up for those allocations. And where are they going to get the money? It's very easy to sell your GTB, very easy to sell your Zerni Bank, very easy to sell your UBA, very easy to sell your Assets, very easy to sell your Aradale. And that's why you saw most of the falls in the equity market in those stocks that are highly liquid. If CEPLAT was...
• 32:38
  that liquid, you would have seen that crash too. And so that was responsible for, that was majorly responsible, in addition to the slight correction that we needed to have in the market, that was majorly responsible for the overcorrection, so to speak, that we are seeing in the market today. So I see people panicking. I see people crying. I see people gnashing their teeth. I see people,
• 33:10
  revealing stocks to us that we never knew we were holding before. And, you know, it was obvious that that was one major cause of it. Again, we are still waiting for clarity on the new structure of some of these banks, especially the holdco banks. You know, like the CBN sent out a draft and is waiting for impute.
• 33:43
  suggestions, contributions from the bank's investors on how to manage bank and their new structures, whether they might need to raise money and all that stuff. So people see statements like that because the SEC and CBN did not come out with a definitive
• 34:13
  answer or solution or decision as to how they are going to move forward that's why they are calling for suggestions and all that so again that created a little bit of uncertainty which the market does not like and that too may have contributed okay we spoke about how t plus one two could have had an effect on that but
• 34:46
  Majorly, for me, it was the Dangote Refinery IPO that sucked out liquidity out of the market. And apart from sucking out liquidity, what that did too was it created pressure on our forex because the whole thing was done in dollars.
• 35:18
  you had a situation where those people who were lucky to get a location were asked to pay into the dollar accounts of the various banks that they needed to use or are going to use or they have used for that offer so they got the allocation a couple of them a deadline to pay for most of the allocations that they got was last week
• 35:48
  And let's just hope that there will be some kind of respite. But going forward, what are we expecting in the market? So this would have been a perfect setting for insurance companies when you consider the fact that their recapitalization drive and...
• 36:19
  new act is supposed to kick in by the end of july so as you may have noticed a couple of them have already made initial deposit of their new capital requirements and a couple of them have been raising funds so uh regency alliance ipo is ongoing at the moment serving
• 36:52
  Insurance have completed theirs. Link Assure have completed their right issues. LASACO have completed their right issue. So Link Assure Sovereign and LASACO, they've completed their right issue. Universal Insurance right issue is still going on. They had to extend that because, again, it's looking undersubscribed. And then...
• 37:25
  The funny one, I'll call it funny one, Regency Alliance, you know, came out all gun blazing, did an EGM and wanted their right issue to be shorter than the normal duration. Durations for right issue minimum is 28 days, but they wanted just 10 days. Actually did an EGM too.
• 37:59
  Get that ratified. Notified everyone. Sent mails to investors and stakeholders. And then the write-off was supposed to start on the 22nd of June. On the 22nd of June, nothing happened. 23rd, nothing happened. 24th, nothing happened. From the 22nd of June, we started making inquiries.
• 38:34
  the lead issue house, we wrote to them, we wrote to the company itself, wrote to Mary Stem, their registrar, who wanted to find out what was going on. You had gone and got an AGM resolution that you wanted your right issue to last for 10 days. So this is like three days into the 10 days and there's no link. There's no verification of how many.
• 39:03
  shares people have, how many rides they can take up. Because if you don't have a CSCS account, which I strongly suggest to everybody, and I'm a CSCS online account where you can view what you hold in your portfolio, it would have been difficult for you to know because Regency did a...
• 39:33
  a bonus issue of one for three for people who had the shares as of last year, October 28th or thereabout. And the shares were not credited till like May of this year. So even if you wanted to do your rights, you would not know how many rights you were entitled to, except...
• 40:04
  You have a CSCS account and you don't know the cutoff for these present right issues and then you should be able to calculate and all that stuff. So I reached out to them, what's going on, wrote to them. I didn't get any reply from the company itself. I never get replies from these companies. But I got feedback from the lead issuing house who said they are delaying the...
• 40:37
  the right issue that there's still something they need to clear from SEC. And I said, how is that? Because you already put out a statement. You already informed the NGX that it started on the 22nd. I said, I hope you know people are losing days. You want this right to hold in 10 days. So this is day two of the supposed 10 days and they're starting.
• 41:07
  to let uh investors know of what is happening she said she'll get back to me and uh once uh uh that she'll get back to me before the end of that day they were holding a meeting and once anything happens she will let me know which she did she got back to me and told me uh the right has done started so and i asked where is the link she said she would get back to me the next day for the link so uh
• 41:38
  I waited. Next day, I went to check MeritStem, and I realized everything has been put there. But here is my question, or here is my dilemma with companies. So a situation like that happens. You had informed investors that your right issue will start on the 22nd of June. That did not happen.
• 42:12
  It now started on the 25th or 26th of June. And not even a single statement, not a single statement has been released by the company to inform investors that due to some unforeseen circumstances, we're not able to commence the right issue as scheduled. We apologize. Please bear with us.
• 42:45
  Because of this, we have now extended it by the number of days that we lost initially. There was no communication. And I just find this very alarming. It seems to be, I don't know whether it's a Nigerian thing. I don't know whether it's a Nigerian company thing, but our companies lack communication. I wouldn't even say skills because they don't communicate at all.
• 43:18
  Skills is another discussion. Because even if you communicate and you don't communicate it properly, they will not start talking of skills. But you don't even communicate at all. And that's why we have a lot of undervalued companies today in the boss. Because you allow people to tell your story. We have said it so many times on this platform that we don't expect anything to be perfect.
• 43:58
  But Nigerians are very forgiving people. If you own up, accept, apologize, and give them a clear roadmap, Nigerians are most understanding and forgiving. But apparently, it's a gap. It's a very big gap amongst companies. Maybe they don't understand how important communication is. As far as I'm concerned, communication is...
• 44:35
  almost everything in business so for those as it is right now a lot of people have lost interest the timing is kind of not the best for regency alliance it's cheaper on the floor i don't i don't i don't see why any rational person would go and buy regency right at 95 cover when it's trading
• 45:16
  at 79 cover. Even though from how they set about this right offer, you can tell that one, they probably have one new investor who is ready to take up all the rights or there's guarantee that somebody will take up all the rights. That's why they were going for 10 days. Well, you know what? Whoever that person is, whoever that organization is, good luck.
• 45:56
  take up all the rights. If this price disparity between the rights and what is trading on the floor remains, I will gladly buy on the floor. I will gladly buy on the floor. And you can take, I will ask my broker to put my rights out for sale. If there's anybody who will buy it, even at five copper per right, I will sell it. And let the new investor...
• 46:34
  or the guarantee to take everything. But just a short statement telling investors about the mishap, about the offer not starting when it's supposed to start, would have gone a long way. Because that shows how much respect you have for your investors. Truth of the matter is, a lot of people are not even aware. And I think...
• 47:21
  They just take Nigerian retail investors for granted a lot of the time because they just think, oh, what do they know? We are in a different time now. People are very, very aware. People are very, very sophisticated. It's not your investment of 19 or 2007. It's a very, very different set of investors. So the insurance would have benefited.
• 48:01
  And we still benefit from that recapitalization drive. This would have been their time to run, even though liquidity has been sucked out of the market. And after that, we'll get half-year results. In about three days or two days, the month is ended, and we'll be waiting for half-year results for all these companies. And then a lot of people would see...
• 48:37
  that for most of these companies, nothing has changed. In fact, they are waxing stronger than they expected. I'm looking at Surplat. I'm looking at Aradale. If you've been following the geopolitical situations in the world, the Iran-U.S. war, it's caused a lot of disruption. Gas prices went, oil prices went sky high.
• 49:20
  Most of that happened in the second quarter. As people may have deduced or read from Haraday's year-end first quarter results, CEPLA's first quarter results, it's obvious that gas is the new oil. In the first quarter, CEPLA had a downtime of 31 days. They lost a whole month.
• 50:03
  because of the problems they were having in Focados. And it indirectly translated to Aradale. So you might actually see these companies having blowout good results in their half year. And then with PIA being implemented by these companies, which most importantly reduce the amount of tax they have to pay, these are companies that are going to do very well.
• 50:48
  Unfortunately, it looks like we have a situation where people buy companies for just two to three months. MTN is there. UAC is there. NACO is there. Custodian is there. GTB is there. Zenit is there. These are companies that are going to produce good results that will...
• 51:27
  You start asking yourself, why was I selling in the first place? What really changed? What changed in Zenit when it was selling for 150 and now that it's selling for whatever price it is? What has changed in the company in those couple of days? Panic, fear, listening to influencers, listening to people who are not even in the market.
• 52:07
  I forgot to mention Wapco. I just needed to make people happy, and I told them to go and buy Wapco. I put myself on the line with that. I told them, go and buy Wapco. Now, HBM, because we are about to see what we call the Chinese efficiency in the cement business. Dangote Cement, Boa Cement.
• 52:47
  Watch out. And what do you hear? Oh, they are going to buy out shareholders at 93 naira. People, for once, can we just keep a rational head and think straight? How is it even possible? How do you come out with stories like that? Those are stories.
• 53:21
  The 93 Naira story was months ago, years ago, maybe a year ago. For a stock that is selling at 300 and something Naira, they want to pay you out at 93 Naira. Like, should that even be a topic? But, you know, that's what the tractors do. That's what people who want to cash in on the situation, make you sell your stocks for cheap. That's what they do. Even, even...
• 54:03
  If HBM decides to delete, I'm not just talking here. If they decide to delete, the minimum they will pay per share is two times what you have in the market right now. Minimum. If at all. But it's not even going to happen. It's not. There are companies that hold a lot of...
• 54:43
  interest that Nigeria attaches a lot of interest to. And that's why sometimes we come here and we talk about the non-performance of the NGX and people think we criticize them. Anyways, so I'm so happy I actually gave up Wapco. Go apply Wapco and just hold it. Just hold it. There are a lot of good companies out there. Wapco actually, like I said, Wapco changed their name to HBM.
• 55:21
  And then there was another company, Deep Capital, changed their name to Critical Finance Mining Corporation. And, you know, some people ask, what is in the name? We'll find out. We'll find out later. Because since the beginning of this week, all we have been flooded with is how some rare earth matters have been discovered in Kaduna. And I hate that word, discovered.
• 56:03
  Because those matters have always been there. Activities on those matters have been ongoing. If you were at the space last week, we were talking about the formal and informal economy. A chunk of money going into the Federation's coffers from the informal economy is from mining of rare earth metals. And I think that time has come.
• 56:41
  We, the Minister of Solid Mineral Resources, must come out clearly and start telling us what is going on. He needs to come out and tell us what is clearly going on with solid mineral resources in Nigeria. Everybody is talking about AI. The world revolves around AI right now. Has Nigeria benefited from that boom? The answer is no. Are we supposed to be benefiting from that boom?
• 57:29
  I wouldn't say Nigeria hasn't benefited. Nigeria is benefiting from the boom. Unfortunately, it's not trickling down. It's something that the government is aware of. The government is getting revenue from it, and it's something they are not making full disclosures as to what is happening. I'm demanding that people start demanding from the government that they want to see the solid mineral map of Nigeria so that...
• 58:08
  Wherever you are in this country, you know what you have in your lands. There's nowhere you don't see peasants digging the ground every day. You are traveling to Ekiti, Oshun, these states, you see people all over digging. Some villages in Kwara, they'll be completely deserted. They masquerade under the banner of bandits.
• 58:49
  Yes, there's element of banditry. But deep down, there are some underground operations going in. Aircraft comes in, cut away solid mineral resources. There's no way an aircraft is flying in Nigeria and the government is not aware of it. So we need a solid mineral map of Nigeria telling us all the...
• 59:32
  kind of rare earth metals that we have, and people that have licenses to mine these metals. Because those metals are very, very critical in cheap manufacturing, which powers artificial intelligence. That way, we can start to shift our focus away from just oil and gas, shift it to agriculture, shift it to solid minerals.
• 1:00:24
  Let's shift it to the blue economy. I've disclosed here a couple of times that despite everything that happened with UBA, we listened to their call. The takeaway was they are going into mineral mining in Democratic Republic of Congo. And like I've explained, they are not going to go into DRC with UBA. They are going to go there with UCAP.
• 1:01:16
  UCAP is general financing. DeepCap has rebranded from general financing to critical mining financing. What is in a change of a name? Or what is in a name? Time will tell. Because what that tells you is people are saying we are the new...
• 1:02:00
  money spinner is going to come from. It is not going to be swift. It's not going to be a sprint to take time. Get it right. These companies are not going to be going into mining per se. They'll be going into financing mining. That's where the difference is. So you look at the companies. You ask, how prepared is this company?
• 1:02:46
  How prepared is this company going to this new venture they want to undertake? And then you begin to look back, look at the appointments they've made, look at what they are doing to fix their balance sheet. And then you start to piece things together. I like one of our panelists here, one of our regular panelists here always say, if you miss these steps, you miss the arbitrage.
• 1:03:24
  If you wait for everything to fall in place, you miss it. If you are looking at the balance sheet to make those decisions, I will tell you how many distressed companies Warren Buffett bought with useless balance sheet and turned those companies around. The point here is you should be way ahead of a lot of other investors. As long as...
• 1:04:03
  You are a believer in this community. You should be way ahead of a lot of other investors. A lot of people did not know about the initiate and they are wishing they knew about the initiate prior to when the initiate became popular. Sometimes I come and I tell people, I tell investors, we are not in the business of asking you to go and buy.
• 1:04:51
  ready-made companies. If you're a young man and you're just starting your investment journey, if I ask you to go and buy a share plot, how many share plots can you buy? You think if you buy 50 share plots, you will have financial independence? I don't know. Why don't you start looking for the new share plot? It's not easy, but you know what? I'm not asking you to go and put all your money in some new venture.
• 1:05:32
  You always have that percentage of your portfolio you put in. You call it risky. If you lose that money, to God be the glory. If you make so much from it, life goes on. So, the half-year results will come. There'll be some blowout results. Some market movement for like maybe one week or thereabout. FTSE will come into the market. They're ready.
• 1:06:23
  A couple of them are already in the market. They've already taken position in certain equities. And then Dangote's IPO will come in again and suck a second round of liquidity out of the market. I'm just trying to run through how I see the market. I'm not in Nostradamus. I might be wrong. But just bear with me. I know where I'm going to. Because everybody, that time it will be public offer.
• 1:07:04
  Everybody will be given the opportunity. I hear the NGX is white-listing people, so it will be possible. But the question I will ask the NGX, the question I will ask CSCS Nigeria is, how is it going to be possible for diaspora Nigerians who do not have any affiliation with stockbrokers?
• 1:07:42
  in nigeria to be able to partake in that offer because it's all well and good when you come out to say don't advertise the ipo don't do anything about the ipa and other because what most of the houses have been doing is if you're interested in the ipo register your interest let us know how much you'll be willing to invest in it and all that and all that stuff and then those who are organizing media probably like stockbroking houses
• 1:08:18
  and then they find a way to make sure you register before then. However, the NGS should start thinking outside, should broaden the way they think. Make it easy. I know a couple of Nigerians, they've never been to Nigeria. They don't have a passport. Not because they don't want to have a passport, but because getting anything done in Nigeria is very, very difficult.
• 1:08:54
  They don't have a bank account, not because they don't want to have a bank account, because getting that bank account is bring this, bring that. They don't have BVN. They don't have NIN. They set up some, I don't know what I'll call them, agencies to run these things for people in diaspora. It's not in every city. In some cases, for you to say you are going to do your BVN.
• 1:09:27
  And your name is like traveling to Nigeria to do it. And nobody has that time here. However, we have Nigerians who do not have social security numbers or social insurance numbers investing in equities in the United States, in Canada, in the UK, and the rest. If you want to improve liquidity,
• 1:10:12
  in our market i'm telling you this waiting for institutional investors if you want to really increase liquidity in that market the ngs should be thinking about how to onboard diaspora nigerians because if you as a nigerian is able to buy stock in the united states without your social security number
• 1:10:49
  probably what you would call the name in Nigeria. Why should Nigeria not be able to buy from the NGX without name? How are the other people doing it that we cannot reciprocate? Because we have a way of making life difficult for ourselves. You can imagine the barrier. You can imagine how many people want to invest. And then by the time they tell you they want to open an account,
• 1:11:25
  The process is very, very stressful. It could take you a month or two to get to do that. People are interested in this Diagote refinery and I will not know, oh, you will need to open a stockbroking account to do that. And if the NGS was proactive, they'll be working on means to make sure that they get everybody who want to partake in that offer. Make it easy for them.
• 1:12:02
  Make it as seamless as possible for them to take part in that offer. What kind of NGS do we have? Yes, there's been increased participation in the NGS. Is it because they've done anything? No, they haven't really done anything. All the increase in the NGS you are seeing today is not because of what NGS has done. Because when I see them engage the public,
• 1:12:38
  They are coming to teach us how to look for fundamental stocks. No, that's not your duty. Your duty is provide a platform that is functional, that is easy. Provide a market that has liquidity. Maintain good corporate governance for these companies. That's what you need to do. Don't tell me, I don't need you to teach me New York Stock Exchange.
• 1:13:20
  NASDAQ will not be teaching you fundamentals of investing. They just provide the platform. The platform is okay. It's not glitching every now and then. There's no obvious insiders trading. I don't have to wait for a day for my dividend to be credited. I don't have to wait for months or years for my bonus shares to be credited. Provide that platform.
• 1:14:04
  Come and educate people or come and tell people what plans you have for investors, how you intend to make more Nigerians get into investing, how you intend to turn every university hub in Nigeria into an NGS hub where people can start to develop interest in investing. Don't come and tell me about fundamentals. I'm not interested. It's not in your place to tell me about fundamentals.
• 1:14:42
  The dangote refinery will come, suck out liquidity once again. That will be third quarter. And after that, what happens? Election. And get triggered. Let me make one thing very, very clear. I'm completely apolitical. Okay? I don't believe in any political party. I don't have any political affiliation to anything. I just, based on what you are saying,
• 1:15:15
  That's how I criticize what you do, whether negatively or positively. Because some people say, oh, don't bring politics. There's no way. There's no way politics will not affect investment. And if you don't get that, I'm sorry, I cannot help you. So the politics thing, the election fever will kick in after the dango taste.
• 1:15:48
  uh ipo that will carry us into year end into the election so that period to be mother of all sideways movement and when i'm inside this movement we can just be doing minus 10 minus 5 minus 10 minus 5 just around that band we'll just be green because people the market will be waiting for clarity and then the politics where does it come in and this is rare
• 1:16:20
  We need responsible government. This is where you create anything that the market does not like, you will see a reaction. And what am I talking about? I've been watching the political space, and based on some bites that I'm getting, this election to most of the candidates participating is a do-or-die team.
• 1:17:10
  The sacrificial lambs here are the ordinary citizens who would go that day to say they want to carry out their civic right. You would have expected that by now, maybe like several months to the election, every litigation concerning whether a party is registered, whether a party will be able to contest the election and all that, would have been settled. You would have expected by now. But you know our politics.
• 1:17:46
  You know, whoever the incumbent is will make life as difficult as possible for anybody who wants to come in. So when we start getting to, let's say, close to the elections, and we start hearing this party has been deregistered, this party cannot contest election, this party does not meet certain criteria, like in that October, November, December time.
• 1:18:21
  That is recipe for disaster. It's recipe for disaster. Even though some people will hate it as political smartness. Oh, this guy, when it comes to politics, he's a genius. Genius. Yeah, that's what they would describe it as. And what do you think will happen? How do you think the market will react to that? How do you think foreign investors will react to that? So, communications.
• 1:18:54
  Clarity around these areas are very, very important, very, very paramount. We need to be alive for us to be able to invest. So we must make sure that these things are clearly defined. Remove your emotional mind now, remove your political cap now, and all that stuff. Do you think we've seen those clarities? If you start disqualifying a party in November or December,
• 1:19:31
  Are you not creating an environment that is not ready for peaceful elections? And we will hail it. Yeah, we will hail it because these days we lack people who can do critical thinking. You say something like this, they say you are political. Even though what I'm saying is as straightforward, clear.
• 1:20:11
  Remove politics from what I'm saying right now. Seven months to the election, every party should be set. Everything should be smooth. But you can't disqualify somebody a month to the election. Well, whatever happens, happens. If that is genius by you, then you certainly belong to the little generations we'll be talking about in the past couple of days. That you went to school.
• 1:20:50
  You want to invest, it does not mean you can't be an investor. So let's just pray. Let's handle our communications issues around the elections properly. Let's pray that at the end of the day, people are allowed to vote, votes are counted, and we have a winner. And if we have a winner, there's no fighting and anything. Then, only then.
• 1:21:30
  you will see this market going up again. So what am I saying? If you are buying anything right now and you are expecting you are going to be shouting bazooka in two weeks, two months, three months, I hold a different opinion to that. Even on a short term now, I'm looking at seven, eight months. On a short term, that's what I'm looking at. And that's not to say the market will be bleeding for those eight months, no.
• 1:22:09
  You probably have a situation where the market will just be drifting between maybe 200 to 230, 235, 240 on the ASI to just be dangling between those two ends until that election is done. There's a winner. There's no fighting. Whoever wins, the market goes up. That's my outlook. My outlook.
• 1:22:49
  Not superimposing it on anybody here. And I've tried my best to chronologically go through the events that I think will lead to that. You are at liberty to disagree. And I don't have any qualms with that. I don't even want to be right. But in this investment game, if you put too much emotions or you put emotions...
• 1:23:28
  you lose so much money. So that's what has been responsible for all that is going on in the market. And if you are not strong enough, you can take a break. But if you are holding some solid stocks, I say stop checking your portfolio every day. You can't time the market. You cannot. So the next major catalyst.
• 1:24:14
  FTSE will not do much for our market because, like I said, I think it's been prized in. A little bit of movement will happen here and there. And then this election thing, the government has prioritized itself so much on the achievement with what we've done with the stock market. Let them continue in their spirit, create an enabling environment. If people contest elections and they fail,
• 1:24:47
  fairly, then there won't be any problem. But don't create situations where you start disqualifying people, disqualifying parties, deregistering parties, days or a month to the election. And maybe all Nigerians should be very, very concerned about this. This is no time for things like that. Anybody who's close to government should be advising the government.
• 1:25:26
  clear these things now let it like give a deadline by so date we know the court cases or the appeals you know i don't want you you come and tell somebody that in in in in december that you cannot contest the election or you are you are deregistered that that that that's going to create a lot of problems in the system and we
• 1:25:52
  Definitely do not want, it's not good for the people, it's not good for the market, it's not good for anybody. So again, our results, the results from the companies will show you that fundamentally, this should have been like very small correction, which has been deepened by liquidity being sucked out of the market, which will be confirmed by companies releasing solid results half year.
• 1:26:34
  I mentioned some of the companies and what I expect them to do. FTSE will come in. The election fear will be there. Have a peaceful election. And boom, the market is on the run again. So if you're in the market right now and you're not ready for all that, maybe you should be leaving the market and come back after the election. It's as simple as that. Come and check.
• 1:27:10
  Your portfolio every day and then be crying on the timeline that village people are looking now for you. So I would defer to Senko and I'll come back and continue on some of the other events. Let's not forget, we have been working overtime to...
• 1:27:44
  get people's allotment for the initiate. We are still working on some of them. So if anybody has come to my timeline and dropped a message and left details, know that we are constantly in touch with the registrars and they are doing everything possible. We shouldn't be doing this, but it doesn't matter. It doesn't take...
• 1:28:19
  It doesn't take that much from me. I know the people in charge of this stuff. I just push your information to them and I give them time to work on it. It doesn't take anything from me. And, you know, people can draw their conclusion or whatever they want to draw. But, you know, like I'm happy to do it for the community. If you have come to my DM like I advised and you sent me.
• 1:28:51
  all the information that I needed. I have pushed those information to the registrars and maybe you even get to find out that your problem has been solved before I get to find out. It doesn't matter whether you tell me or not. The most important thing is the problem has been solved. Thank you. Thank you. All right. Good morning, good afternoon, good evening from wherever you're spacing from.
• 1:29:24
  So far, so good. I just need to touch on some certain things that Charles said. At this moment, in the markets, if you check my, I just posted something on the Dumbo Trends about the ASI. Again, like I said.
• 1:29:49
  If you look at the tone of my message, the tone of my message has been kind of caution, caution, caution. I'm no longer short-term bullish. I'm not bullish in the short term. And it's just very simple. You look at Aradel and you see some people trying to talk about re-rating. We expected that. Yes, we know that Aradel needs to be...
• 1:30:17
  numbers have to be re-rated because they just, you know, acquired something big and huge. If you ask me, that was a very good result. They capitalized on the Iran. You can see that in the numbers. You can see that. So, but we could see how markets is punishing them. It's just two things. And if you look at what I said on the ASI, my recent analysis,
• 1:30:50
  which was yesterday, I dropped yesterday. So I had to just sit down, right? So like I said, the market not changed. If you look at the Nigerian market, the market was positive, good. There's only one, okay, there's only one thing that, again, all of a sudden, we just saw that federal government signed something. And I'm going to talk about it. And everyone should be worried about that swap deal that those guys did.
• 1:31:24
  I don't understand why such deal will pass through and nobody will know what the sign and in terms of the derivatives, like when did we start doing this kind of thing? Because we cannot meet our budget, because we cannot meet the revenue line, like we're not generating more revenue.
• 1:31:46
  And I've told people on the Telegram and the WhatsApp, our next financial crisis will not be FX. The next financial crisis, like I said, and if this man becomes the president again, second term, I'm not, this is not me talking about politics. And I can bet you, after, it's not, a predicted dollar going to 1,000, 2021. And I'm predicting again that our next financial crisis will be debt. And it's looking at us. And it's, again, I'm not scaring anybody. It's just, it's...
• 1:32:15
  There is all the red flags, all everything that is just showing up. And I said, and it got me anywhere. I said, if nothing is being done, our next financial crisis will be debt. Like I said, people are shouting debt, debt, debt, debt, debt. And remember, these guys went to meet World Bank for $5 billion. Connect the dots. They couldn't get the $5 billion loan because Nigeria shouted and all those things. Then the World Bank...
• 1:32:50
  the banking guy said oh we can do something for you you know what let's give you what derivatives okay swaps do a swap but i'm coming to that so the second thing again about our the corporate earnings are very strong if you look at the nigerian market corporate tenders have been strong there's nothing that you somebody wants to tell me about what what have the company so market should be smiling but no market is not smiling why two things that
• 1:33:19
  the market is not smiling number one liquidity it's going out of the market because of this private placement good it has ended on friday yeah the private placement of dangote it was oversubscribed let me even bust your head families and friends we're ready to give um um dangote i mean there is a subscribe to dangote like over one billion over one billion dollars then imagine um um phone managers pension maybe all of them ready to put in
• 1:33:49
  five billion dollars now the evaluation of that for the um for that um the refiner is 39.1 billion dollars and what they were expected to raise um is supposed to be around 1.5 billion dollars but i don't know the date it was subscribed but we don't know how much it was a subscriber now guess what it everybody saw the um online thing that david okay posted that oh five cents three billion shares i repeat
• 1:34:19
  three billion shares at what ordinary shares at 35 cents and that's um three billion at zero point zero zero five and zero zero uh one five um dollar it's 35 cents now let me not tell you something okay definitely will find a way to look for how to get that money but i'm running what happened i'm going to just tell you how the market played out like in terms of macro and
• 1:34:50
  what happened if people that have been following the fx market um and everything so what happened next is when they raise their money i'm just giving you guys what is happening in the market pension guys they said go and take um go and buy the district what do you think will happen some of the special guys will sell their security some of the asset managers they'll take they'll sell their securities world securities stocks i'm from the market especially
• 1:35:18
  and they will not go and sell uh uh oshimiri stocks that i put in quotes they will not sell something when very um very liquid what are the liquid stocks that you have in the market definitely many of them will take they'll first sell the ones that they are already up by 200 percent or 150 percent from the market example are other beautiful others and it's a very good way to that is very liquid you can sell one of like very very liquid you sell off yeah
• 1:35:48
  where are the other ones you've seen naku you've seen credible in this thing because if the liquidity again there's a difference between a rotation you know rotation into other sectors and rotation into and rotation out of the market out of the market and the market lost what nine it was not in the market nine trillion not in the market think about whether nine trillion will go to nine trillion what we'll be chasing what
• 1:36:16
  the private placements now so many it's not everybody that um allotments that will be filled no no no no no not everyone so definitely some people will not get the allotments for the private placements and we started hearing some kind of nonsense now think about the um the spread that many of these asset managers okay let me not cast them i mean well this is bad anything i'm just saying i don't talk about that but let me just stick to the market because
• 1:36:46
  also it's also part of the problem when you are not selling at the price that you got the the private placements now what happened during this week we saw dollar rose as i am rose and devalued for that to 1402 naira why because what we are funding in dollar you are not funding in naira and i chose on a mail we're having and we're having a conversation on whatsapp like
• 1:37:13
  how come when we started um like conversing that oh this this this this like it should be in the local currency so which puts more pressure on the naira look which puts more pressure next one on the naira okay put more pressure on the naira the naira devalued by two to two three percent within the week it just now that it's so stabilized and we're back again back to
• 1:37:40
  1,393. Some houses, what were they doing? Some houses were charging as high as, if you are funding with your Naira, they'll give you a rate of one, okay, of above 1,400. But it does not make any sense because we want to watch. Everybody wants to partake in the offer. Everyone was like, okay, because of the IPO. And think about it, September is coming and I'm not excited. And I've been saying this since last year that I'm not bullish on this, about this offer.
• 1:38:10
  I wish he had done his private placement since last year. He had done it so that we'll get away from that. But now you're doing private placement. Now you're going to do a public offer again where many houses. And I'm happy that SEC has come in and said any of this thing, which again might not add one or two things to the market, right? Because SEC is saying this, this, this, this, this. I'm happy that no house will be advertising that. Any house that is caught will be in trouble.
• 1:38:41
  food because again when that happens you see a lot of people panicking trying to take profits from their securities to go and buy the refinery i'm not going to talk about the business until i see the prospectus i see everything about uh what the refinery is actually what and the valuation and everything what did they the revenue that they made oh okay um the revenue that they made yeah again as the case may be right then when you look at how the naira
• 1:39:12
  When you look at how the Naira... Sorry, guys. So when you look at how everything has played out or how everything has panned out, you ask yourself again, could this have been done better? Of course, yes. But why is the market being punished because of this, right? Why is the market being punished because of that? Or because of one man? This is where you start asking this.
• 1:39:50
  So, you're asking this kind of question. Charles, confirm if you can hear me. Hello, Charles. Loud and clear. Now, why is the market being punished for this? Because it doesn't make sense that the market is being punished all because of one man. And all liquidity that is going out of the market is why the market is...
• 1:40:22
  the way it is. And the sell-off has been coordinated. You look at the sell-off. This is more or less like, okay, technical play. Yes, the market has run, right? We agree. Everybody agrees that the market has run. We had to date from January to April over 60%. Now, then we had a shut-off. Now, we've lost one key support level of 239,000. And it's looking like 223,000 is in play. Yeah.
• 1:40:51
  And if the market drops by 223,000, it means that right now the market is down from the previous all-time high to the current levels. The market is down by 8.7%. So if the market goes down again to 223,000, which is the next support level, the market goes down to 223,000. That means that the market will be down by approximately 12% again.
• 1:41:18
  Why should the ASL be losing 12% when we are not doing crypto in the markets? At least at most in a month. Even last year when we even had a bad month, bad September. No, not even bad. A proper correction. Because the ASL was roughly down by approximately 5.7% to 6% in a month when we had that correction. So, all these things. When you ask all these questions.
• 1:41:50
  When you look at all these variables, when you look at everything, I'm coming back to why the market is happening because I've seen a lot of misinformation online for those people that actually do not even follow what the market is actually saying. You ask yourself, and now the market is now down by 8.7%. If those orders again come in, I expect that maybe Arado opens with a gap down another 10% against Lumin for Arado because the deal.
• 1:42:26
  the offer accepts me again the um the big boys close their um don't put those kind of uh others offers in the markets during the auction uh that's from nine o'clock tomorrow when market open but again we're looking at another ten percent we are looking at our other trading around one thousand two something to one three around that region when it opens again tomorrow but it doesn't make sense that is losing twenty percent of it
• 1:42:57
  In two days, Arada lost 20% of its value. If you look at where Arada is coming from, we are looking at 27%. And it's looking likely that Arada will be doing another 10%. Now, let's go back again. Let's go back. And Arada broke down from a key demand zone level. Let me put that into perspective. So, I've spoken about one part, which is the Dangote private placements taking out liquidity.
• 1:43:26
  Could that have been done better? Of course, yes, it could have been done better. And again, putting pressure on the Naira. Now, the second part and the second aspect is one key macro, which I'm going to explain and break down to people. I was supposed to write an article, but I don't have that time. I've been very busy. So on it, about the swap that happened. And I was like, okay, the Nigerian government, so what did the Nigerian government do?
• 1:43:59
  The headline was from Bloomberg. All of a sudden, we saw that Nigeria draws first tranche of 5 billion swap with UAE bank. The key number is what? The first drawdown is the $1.5 billion that has been done. That was two weeks ago. Two weeks ago, we've already collected 1.5%. And one of the key things that I looked at for, but even though...
• 1:44:27
  Other things were not clear. What were the security? Coming back to that. Total approved facility was $5 billion. First tranche that was drawn was $1.5 billion. Remaining amount that was undrawn was $3.5 billion. Collateral required, please, see, still with me. But before I move to collateral required, let me just explain what a swap is. You know, what is a swap?
• 1:44:57
  let me just explain what a swap is in and for those that don't um don't understand what swaps means now what is perhaps in terms of so in finance a swap is what an over-the-counter derivative contracts where two parties agree to exchange cash flow or liabilities from different financial instruments
• 1:45:30
  Again, I repeat, it's an over-the-counter derivative contract where two parties agree to exchange cash flow from different financial instruments, agree to exchange cash flow or liabilities from different financial instruments. Now, one of the features is it adds against risk, such as interest rates.
• 1:45:58
  or currency what fluctuation work with me currency fluctuations i'm explaining this thing so that everybody will have an idea of what our government or further government is going to do behind our backs without the approval of the nas national assembly now uh let me see again
• 1:46:26
  So when you look at this and you understand, now what are the uses of swaps? I don't think Nigeria has gotten to that stage that we are doing all these kind of things. And this is a problem because we don't have revenue. When you don't have revenue, I mean, again, you look at, I'm sorry, Taiwo. Taiwo was like, if you look at his recent statement, he said, oh, we're not generating enough what? Revenue. We're not even getting enough tax that Nigerian.
• 1:46:55
  the way i didn't quote him vibrating saying that we are still under taxed we are still under taxed now like i said i said a swap is a derivative contract where two parties exchange cash flows or liabilities of financial instruments or over the counter over the counter now what's the what what are the um you know main thing that you need to understand for um about
• 1:47:27
  collapse like i said the main thing like i said was okay um in terms of interest rates fluctuations in um um in currencies and again interest rates now let's go back to the deals the terms of the deals that we like the that was we saw everybody saw that now what were they required um collateral they required the collateral was 133.3 percent
• 1:47:58
  of amounts drawn 133.3 percent should nigeria fail to did nigeria fail towards to meet their obligation of the 1.5 billion the estimated collateral for the 1.5 billion dollars if you calculate that will be 2 billion dollar equivalents in fgn securities what as our president
• 1:48:24
  or our federal government's going to sign with these guys? What did they put on the table as our collateral? It means that Nigeria, if anything, should anything go wrong with our currency, this is how dicey this thing is. It's just like, for those that are traders, you know, when you say we want a long Tesla, or you want a long SpaceX, or you want a short SpaceX with a 5X leverage, I don't have, let's say I have,
• 1:48:55
  hundred dollar but i don't have 500 in the exchange and i want to what to take um too long um tesla with 5x leverage means that my margin that i'll be collecting from the exchange the exchange will be borrowing me or the broker will be borrowing me extra what four hundred dollars so mean that
• 1:49:20
  My risk, my total collateral, I mean, my risk, I mean, my total collateral I'm putting on the exchange is $100. Now, should the market move against me, that means I bought, let's say I bought Tesla, like I took a long call, I took some calls at, I took the call, we call it call. So I bought the call at, let's say, bought Tesla call at, now this is futures, I'm not talking about options.
• 1:49:50
  Now, I took a long, let me use the right word, a long Tesla at, let's say, $150. Tesla was trading at $150 region. Now, if Tesla moves 10% down, meaning that, and I took a 5X, means that I will be underwater. Now, if Tesla moves 20%, I will be hitting a margin.
• 1:50:20
  And I'll be hitting a margin call that, ah, Omar, you have to fund your account or you lose your money or you lose your $100. So the money that I'll be losing will not be the, because now the exchange, the broker needs to protect themselves to quickly close the $400 that I've given him in excess. And I will lose the total of my what? Of my $100 when I get that margin call.
• 1:50:42
  So that's the meaning of what I'm just explaining. Should Nigeria fail to meet the obligation of that $1.5 billion, they will pay $2 billion in securities. What do you think will happen? Do we have $2 billion in securities? Forget about this external, we are shouting reserve and reserve. That money is not for us. Should Nigeria fail to what? Pay up that loan we are going to? What did the government sign?
• 1:51:13
  Because they did not put it in the terms of the deal. We don't know what they have signed. And now this tranche, this thing is government, our federal government is testing waters. Can they do this? Or can they not do that? This is a sign of what? We cannot meet our budgets and we are now going to go and collect a swap. A swap deal. Like from Dubai. World Bank raised what? They said this.
• 1:51:45
  We have never done this kind of thing before. And the headline was, oh, it's to refinance expensive debts. But we are still borrowing. We are still borrowing. Let's tell ourselves the truth. But this is just another way of making things. Okay, now, what would the money be used for? But the money is to what? It's to refinance expensive debts for infrastructural funding.
• 1:52:19
  budget supports for 2026 fiscal deficits. How big is it? If you are using $1,360 per dollar, it means that Nigeria will be paying back 2.04 trillion now. If you convert that, that will be like, which is just 2.04 trillion is not even up to 10% of our budget. There is a problem. All there are problems. This is beyond even election.
• 1:52:51
  And if this man is coming back, I'm putting my mind that, okay, he's going to come back home. Okay, if this man is coming back, there are a lot of problems or pressure that will be on the equities market. That's number one thing that I want everybody to understand. Don't think that the equity market will not be spared. It will not be spared. Remember Buhari's time. That same thing. And this one will be worse than Buhari's time for our equities markets.
• 1:53:24
  If this is not put in check now, like I said again, 2.04 trillion. Our budget is around 50 trillion plus. It's even barely 5% of the budget during that money. Now, the only good thing about this thing is, number one, it will only boost Apex liquidity because we are collecting the money in dollar. Reduces what? Immediate, it will reduce, sorry.
• 1:54:07
  Okay, so it will reduce immediate financing pressure. Yes. Maybe support the Naira stability and could lower short-term domestic borrowing needs. But my very view on this is it's still a debt, but just structured differently. Requires over-collateralization of 133%.
• 1:54:35
  This is like almost a 2x leverage for our government. Our government is doing 2x leverage, almost 2x leverage. It's 2x leverage now. It's 2x. 2.3x leverage, I mean, not almost. 2.3x leverage. 2.3x leverage. And what? It creates contingent liabilities.
• 1:55:02
  And if FGM, if the, okay, if our government is using bond price, I mean bond, federal domestic bond, I mean Euro bonds as collateral, if the bond price fall or the Naira weakens sharply, Nigeria could face a margin call and it will be paid in dollars. This is not good for the markets. This is not good.
• 1:55:27
  After collecting good reports from Fitch, I know maybe somebody does convince them, oh, we have good reports, good ratings from Fitch. Fitch gave us good ratings and every other thing, and everything is good. And macros is looking, again, good macros can quickly turn to bad macro when things don't go well. These are the two external, two things affecting the market.
• 1:55:55
  Two things. I mean, this one, okay, you might say, oh, we're not seeing the effect. We can start seeing the effect when if things go south. For now, the government is just testing waters. If this works, they're going to collect the remaining $3.5 billion. First tranche, $1.5 billion. Next one, $3.5 billion. Only God knows what they're going to put on the table with those guys. It's only those people that are doing it.
• 1:56:23
  constructing those deal i mean the deal that will know what was put on the table we need to start asking questions what did you guys sign or what did you guys put on that deal these are questions that we need to start seeing government what do you people can put with those guys what do you guys commit to those guys should in case this thing goes south what did you guys put nobody knows all we know is securities of 2 billion like if anything happens they'll take um
• 1:56:53
  this thing overall all i'll just tell people is be careful this is the time for risk management this is the time where you deploy everyone needs to be careful and this is not the time to start saying oh um just buying something that is falling knife that is just falling and you never know you keep buying but yes it's good to buy like blue chip stocks yes
• 1:57:28
  at this moment, not the usual components. And also, again, sorry to break some insurance people's hearts, this now has scattered so many things in the market, which is NGS INS now looking bearish. NGS INS, looking at NGS INS, it's not good. The chart is looking bearish.
• 1:57:58
  And they're already even down by 6%. That's the only index that is down, but that is in negative. Others are positive, but that index now is negative. If this continues, if this pressure continues, it's going to be wild. And I'm not going to talk about, oh, there is a, should there be, would there be an insurance run? I don't think, I don't know. It's looking bleak for an insurance run, even despite.
• 1:58:27
  And again, this is why it's not good to do things late. Doing things late, number one, regular insurance. You kept all this information. Then all of a sudden, people started calling you out about doing the right thing. They couldn't. Then they started seeing that, oh, the market was very shanty. They started responding.
• 1:58:58
  yeah but i expect that that stuff goes back to 66 cover when the market opens tomorrow or 65 65 to 66 about 20 24 yearly and also other insurance companies too so this is time to to not just act irrational it's not the time to start deploying money anyhow you also have to be smart about it but i expect that um after um from july we should start seeing um
• 1:59:27
  you know liquidity flow back again for those people that their beads were not filled for the prior and private placement i figured out um we should start seeing that come back into the market then again september now comes again what happens in september another we don't know when the offer will open for the book build if i were you i'll think about this thing again second time should i be buying this ipo or should i be taking opportunities in discounted companies
• 1:59:58
  companies trading at a discount so many companies trading at the discount from ngs group to naku to okay the only strong um guy that has been holding very well is then waku pay attention to waku i don't know what those guys are doing but they are cooking something but still pay attention to them again anything i say is my financial advice but many companies are trading that um you know steve like okay let's just say an okay discount because we still have
• 2:00:29
  and tomorrow next tomorrow i don't know what i say i expect that um i expect june to close bearish um then july we should start seeing you know some form of uh this again for the 50 um added us to the index good good i spoke about that today but it has been pressing even when i was like you know when that news was announced and everything that's the body rumor
• 2:00:53
  nice again now i have september not falling in when dango is doing that's the surgery said the news um kind of thing for me um you know this is not i'm not scaring anybody i'm just telling you how the state of things are with regards to our markets i just say if you're a long-term investors why are you opening your investor i mean why open your portfolio
• 2:01:18
  If you want to take position, take position. You're not taking position. Maybe you just have to care. You're trying to rebalance things. You're trying to, not that you're acting irrational. When everybody's selling, that's not the best time to sell. When everybody's buying, I will end my submission. When everybody's selling, that's not the best time to sell. When everybody's buying, that's not the best time to buy.
• 2:01:43
  You buy when something is boring, when people are not looking at it, when people have not seen that there's an arbitrage opportunity. You sell when people are carried away. You don't sell when everybody is trying to sell. That's where you start seeing capitulation and you don't see the price close down further. Then you panic sell at a crazy...
• 2:02:12
  Don't forget, you are paying your brokers. You are paying your brokers. When you sell, you are dashing their money. You are losing. Brokers will not pity you. They will still charge you. Let me tell you again. Do not be making money for your broker. Stop making money for your broker. Instead, put everything in the right perspective. I know that I got into this market because...
• 2:02:38
  When you are selling, you are making the brokers rich. You see them, they are reporting their numbers. Everything is looking good and nice and neat and sweet. When you sell, you give your broker money. When you buy, you are still giving your broker money because they will charge you. Both buy and sell. And you are still going to pay other fees. So, I wrap up my submission again. You sell when people are not selling. You buy when people are not buying. When it is looking less attractive.
• 2:03:08
  and unattractive to the public that's how you play the market that's how you win not when everybody is selling you you are rushing to grand dump and oh that's not it that's not how you play the market that's not you win thank you thank you thank you senku uh if there's anybody who wants to ask a question and yeah has any comments you can unmute your mic and go ahead
• 2:03:47
  i don't see anybody at the moment um any public offer running any right of our running apart from regency none not the moment not at the moment i even wanted to say anything any company that is coming out to do any public and any uh right issue or this thing that person that means they are not serious and uh maybe that offer will not fail because
• 2:04:18
  market is not smiling and you're bringing up offer at this moment i don't know it's not it's not smart for them for them to do yeah any question ladies and gentlemen everybody is still feeling the blues from their portfolio i see young young okay okay young simba i'll meet your mic and go ahead okay good afternoon good evening everybody
• 2:04:59
  uh thank you charles thank you thank you thank you for everything you're doing at least at the very least i've been able to change the way i think about investing in the nigerian market so i something happened within the week that was during this crash and yeah i just want to like all that crazy because i just want to ask like i know it may seem like a dumb question but
• 2:05:28
  I just want to know if anybody has any, you know, insights on this. So I've been holding Gerigo since that's when I didn't have, like when I didn't have the knowledge I do have now. I bought Gerigo and I had been trying to sell for God knows how long. Eventually, I think on Friday, I put in the order for sale and it went through. So it just made me kind of...
• 2:05:58
  step back like yeah i'm happy i got out eventually because it was just basically illiquid so but the question i just want to ask is for something this illiquid why are people still buying like i'm just curious if anybody can shed any insight on that thank you very much okay um a lot of people bought girigu because of uh ote dollar and uh ote dollar has this
• 2:06:33
  merchant for buying companies and then sells without telling anybody and he made so much out of the good thing and his that money he's been using to buy uh first bank and uh whatever investment he's been making so uh people people people a lot of people who are trapped but
• 2:07:13
  at the very beginning when Otedola was invested in the company. Truth of the matter is when these people want to exit the stock, they are not going to tell you. And that's why it's very important you do your due diligence. And that's why any stock that gentleman is buying, I'm very careful about buying it. He's done it several times. It's not just once. He's done it so many times.
• 2:07:43
  with Africa, with AP, with Adova is fond of doing stuff like that. So again, people should do their due diligence before buying any stock in the market. The liquidity for that stock is really poor. I hope with the new
• 2:08:15
  uh pricing system uh it will become more liquid and people can get out of it it's a grossly overpriced uh company and uh yes people will buy anything you know people will always buy anything in the market but i think people majorly bought that time because of uh but yeah i don't know if there's any other thing anybody buy that stock you know uh i think
• 2:08:43
  people got caught away too with the power story that we've been hearing. And up to this moment, we can only generate 4,000 megawatts of power in the whole country. And I know one of the presidential candidates was...
• 2:09:15
  saying how he would generate 20,000 megawatts. And he didn't tell Nigerians how he was going to do that. And his political detractors started laughing at him. But if we remember very well, we remember when this same guy went to Egypt and some other countries to study their power system.
• 2:09:48
  in a country where people can just, you know, go and tell people about your ideas without really doing anything about it. And, you know, I just find it very hypocritical that people will laugh at somebody saying he's going to give you 20 gigawatts of electricity, whereas the same people will never come out for debate, you know.
• 2:10:20
  We live in a country where a president will just sit down and say he's not coming out for debates. We've seen it happen so many times. And yet you will blame somebody who tells you he's going to do something. And he tells you he knows how he's going to do it. We've seen this person go travel to countries to go and study their power system and all that stuff. So, again, everybody has got their own strategy on how they want to do stuff. You understand?
• 2:10:53
  So people bought the power store at that time. Gerigo was one of the first power companies that was listed. People rushed into it. Got a lot of appreciation on paper. But when it was time to exit, I'm sure a lot of people are trapped like you were. So I don't see anything in that company. Maybe it's a good learning.
• 2:11:22
  curve for you next time before you go and start buying a company you have to check the liquidity that's why sometimes no matter how good the company is if the company is not liquid yeah we don't have we don't encourage people it's like people who have better glass now right yes um all good and where you have better glass but until it's time to sell or leave the uh exit the stock that's where you know there's a problem you know
• 2:11:51
  trying to get out of that stuff. So I think that's what happened then. I don't know if there's any other explanation for it. I see Rahmat. Rahmat Adenuga. Go ahead. Hello, good evening. Thank you very much for the opportunity to speak. I've actually just joined the space a few minutes ago.
• 2:12:20
  I think I got a notification because I follow a few people that are currently listening. I'm quite new to investments. I think I said a few months ago, sometimes end of March, early April. So I sort of entered the markets at the time when it was really rallying and they were like costs were quite high and all of that. So I've generally been trying to sort of like average down.
• 2:12:44
  I do understand clearly that investment is generally personalized. So I don't know if this question I'm about to ask would fit into, you know, what the space is all about. Like I said, go ahead. Yeah. OK, brilliant. Thank you very much for that clarification. So I more of tilted towards halal investing. So I'm quite limited to the.
• 2:13:08
  um the stock that i could you know generally buy because i try to research into ensuring that like they meet the standards for all and all of that um i do have um some stock that i just need a bit of insight and you know general idea if anyone has got anything to contribute so i would really be grateful for that so the specific stock that i'm actually after uh nascone and vitaform um i'm a bit restricted in terms of capital and how much i can invest so i try to make sure that
• 2:13:36
  um what i'm investing in are things that i can actually like top up you know regularly as much as i possibly can so my question actually stems from um when is like the appropriate time sort of average up or average down so for instance like i have um say about i think about 30 000 units of um nascon i think my average price is currently about 150 naira or thereabouts and obviously the current reference
• 2:14:02
  price is about 219 so i know that if i sort of buy at the minimum where you can sell for i think it's about 197.60 or thereabouts if i remember very well it will bring my average price up but then because the market is experiencing you know a lot of um i don't know what you call it now like decline and you know um prices are falling and all of that so i'm a little bit worried because i don't know um
• 2:14:29
  you know if i should sort of buy a bit more unit and again i'm just being careful about raising my um you know my average cost so i just i just wanted to see if there's anyone who can give like insight as to i know that you can't time the market i've had this you know over and over again people share this on some of the investments um like group that i belong to because i'm still learning i'm still quite new so i just wanted a bit of insight into you know when it's like
• 2:14:58
  like the most appropriate time because you never know because the prices could you know start running again and it's just really like a quagmire because you're not quite sure you know whether to average up or just to stay and continue to watch and see if there's going to be like shifting the price in terms of you know the trades and all of that because I do keep my eye on the like on the trades like the volumes daily to see if the price was going to come a bit lower and then I can buy it a bit lower and all of that so it's just been really it's a bit confusing so I just need a bit of insight from anyone who could
• 2:15:28
  sort of provide a bit more general advice that can help me in making decisions about topping up you know some of these stocks going forward thank you very much thank you uh you are holding two very very good stocks there in nascar and vitaphone and yeah they're very very good stock fundamentally and all things being equal
• 2:15:58
  they should continue to do very, very well. I know Vitaform has a year end that's a little bit different from every other company's year end. The two stocks you are talking about right now, I think they have retreated a little bit from their all-time high. Like you rightly said, you cannot time the market. In situations like this,
• 2:16:30
  I would advise that you keep buying in trenches little by little. Because, like I said, these are not stocks that you will see too much movement. If it's going to go down, it's not going to go down. If NASCAR and Vitaform, if they are going to go down from their present level, you are probably, at the most, you are seeing maybe...
• 2:16:58
  You'll see another 10% to 15% decrease. But if you're a long-term investor, this is not something you should be worried about. Also, always watch out for the volumes, like you rightly said. Watch out for the volumes of these equities that are trading. Keep in mind that there's something going on with Dangote in respect to...
• 2:17:27
  NASKON and Dangote sugar. The talks of Dangote food, which will merge NASKON, Dangote sugar and Dangote rice is secretly being mooted again. It was on before it did not pass through because they were...
• 2:17:56
  disagreement in the valuation of one of the entities, Dangote Rice. Nobody could actually value Dangote Rice. However, what happened after then, when that merger was muted, the Dangote Sugar was going to be the reference point for the three companies. And this bigger company
• 2:18:23
  Dangote Sugar is bigger than NASCAR and is bigger than Dangote, right? But ever since then, Dangote Sugar ran into some FX problems, and they've been walking their way through it. Their retained earnings became negative, which they've been working, and I'm sure by the time they released their half-year result, it would have turned positive. Dangote Sugar just raised $500 billion.
• 2:18:52
  naira from their rights issue so eventually that that merger will come and if you hold nascar right now i'll say hold it tightly and i would say continue to buy just continue to buy forget your forget your average price if if you bought dangote sugar like maybe three years ago your average price will still be like
• 2:19:22
  less than maybe 30 Naira or thereabout. If people are going to start buying Naskon, if you bought Naskon like three years ago, your average price would be like maybe six, seven Naira. People are going to buy that same Naskon at 300 Naira in another maybe a year or two from now if the merger has not happened.
• 2:19:52
  So stop fixating on your average cost because as long as these companies are generating profit and increasing revenue, the prices will keep going up. So I would say buy in tranches if you are not sure. But I think at the level they are now, you should be buying. You should be buying. I don't know if you bought VitaFoam when...
• 2:20:20
  And if you qualified for the bonus share that they offered the last time, which I've not seen be credited. But yeah, I see you are raising your hand. Go ahead. Yeah, sorry. It was just in the course of your explanation. I just had a bit of additional information. So I know you did mention that there is a possibility of a merger. Obviously, we're not private into the details yet. I just wanted to mention that I do have Dangute Sugar.
• 2:20:50
  um i had about i think i have about 22 000 units and then i did um i was qualified for like the right issue which i then applied for with a little bit of an additional rights so if the merger were to happen i mean with the valuation thing that you mentioned um i presume like the the nascon is going to be like merged into dango tissue again then it's probably i don't know um i mean how does that how does that work
• 2:21:16
  Yeah, that's what's going to happen. That was the original scheme of Meja, which didn't go through. In addition to Dangote sugar and Naskon, there's also going to be Dangote rice. And the fact that you have both Naskon and Dangote sugar will give you a lot more unique of what Dangote food is going to become, right? So it's not like...
• 2:21:45
  they will not merge it into your dangote sugar and then that dangote sugar, no. They will do the conversion, your NASCAR will translate to some units of dangote sugar, your dangote sugar will translate to some units of dangote food, your NASCAR will translate to some units of dangote food, and you'll be giving, rice will now become part of the company.
• 2:22:12
  yeah yeah what that means is the more of dangote sugar and dangote and nascon you have the better your chances of having more units of they are going to add up cumulatively to give you the quantity of dangote
• 2:22:29
  food that you have. This is still in the pipeline. It was before everything was meant to go through, but it didn't go through, but it's still going to happen. And that is why I encourage a lot of people to take up their dangote, right? Because at the end of the day, the market makers will make it in such a way that dangote sugar will still be, the price of dangote sugar will be higher than
• 2:23:00
  NASCAR. It's something that's going to happen. I don't know when it's going to happen, but it's going to happen to make sure that it aligns with what they want to do. So again, I would say your two stocks you are holding, beautiful stocks, or three of them that you just mentioned, they are beautiful stocks.
• 2:23:29
  I would advise you to join the Green Ticker Tail community. There's a Telegram group. There's a Facebook group. There's a WhatsApp group. They're all free groups. And then we can help you, give you more details about some of these equities on a one-on-one basis, if time permits. All right? Thank you. Yes.
• 2:23:55
  you asked the question regarding the right issue sorry i mean regarding the i think bonus vital form i didn't qualify um i only entered i only started investing i think some like i said late march and i think that had passed so one of my concern as well was obviously like i said i'm still new i'm still doing my research i'm still trying to learn about you know how all of this investment thing works
• 2:24:18
  But I did, I mean, from comment from people from the group that I belong, Dr. Birich, I cite you. I'm in one of the groups that she's currently in and is a net worth investor. But I'm more than happy to join the green ticker as well if I get like a link to join because there's been no limits to knowledge and there's no way you can't pick knowledge from. So regarding the Vitaform, I'm a bit worried because, I mean, I've seen people make comments. I've also read that, for instance, if people are giving like, who knows,
• 2:24:46
  bonus shares, does it water down the share that people already hold? Because my fear is if I buy more and then by the time VitaFone releases those bonus shares, is it not going to water down the value of the shares that one is currently holding? No, I think there's a lot of misconception about normally it should water it down, right? But if I had VitaFone,
• 2:25:16
  This is over nine months we are talking now that those bonus shares were issued and up to now they've not still been credited. Let's say I had like 100 units of VitaFoam and they are giving me one for three, right? That means I'll be entitled to 33 extra shares, right? Knowing the fact that I'll be entitled to 33 extra shares and if I want to sell, I can sell 33 shares from my present holding.
• 2:25:47
  Knowing that whenever they credit me that 33 extra shares, it will balance. It will make up for it. Yes, it will make up for whatever I've sold, right? Yeah. Again, since those results, year-end results were released, they released first quarter, second quarter, and have a third quarter result. I think their year-end is usually March or something like that.
• 2:26:15
  If you are going to look at what has happened with their performance, you will find out that the dilution you are talking about has been completely taken care of with the kind of results the company produced. You know, people always make this mistake of thinking because it's a bonus, yes, if the company is performing very well.
• 2:26:39
  you don't even see the effect of the dilution. The one that, another one that confuses a lot of people is like this rice issue. They will tell you with the rice, that means there'll be dilution and all that. It's not like they're giving you the rice for free. You're paying for them, right? So if the company is able to make use of the money properly and all that and generate enough, then you find out that you may actually have gotten your, your, your,
• 2:27:08
  shares were very cheap and the fear of dilution is completely negated. So again, that's why we ask you to always do your research. It's not everything people say that you listen to. As far as I'm concerned, holding VitaFoam, holding NASCAR, holding Danko De Sugar should be part of your stable portfolio. What I mean by that, those are portfolios you can be quick to your...
• 2:27:38
  children and great-grandchildren if you hold reasonable quantity. And Dr. Birich, she follows us everywhere we go. So she will tell you that you are in the best of hands here. Okay. So like I said, we'll do whatever we can to help you with your portfolio. All right. Thank you so much, Kaz. I really appreciate your time and your efforts and commitment.
• 2:28:07
  And yeah, for the opportunity as well to speak. Really do appreciate. God bless. Thank you. God bless you too. Isa, I'll mute your mic and go ahead. Okay. Good day, sir. Thank you very much for this class. So my question is about this current dip we are facing in the energy market. So I'm kind of like looking for advice.
• 2:28:40
  i've bulleted some phones that i wanted to start a project on but like um with the deep i'm seeing in the market because already i've bought already one one eight and it's already advanced one four so i don't know if maybe it's advisable for me to like um abandon my project since i've not even started and then keep going
• 2:29:10
  take on the opportunity of this dip that is currently on the NGX. Thank you. Yeah, thank you. Okay, Charles, let me just take this. Number one rule is never ever use money that you can't afford to lose into the market because I heard you say you want to do a project or put a project into something. Don't do that. If the money is meant for the project,
• 2:29:41
  Use the money for the project. You only put money when you know that you're not going to use that money. You can afford to lose that money if the money goes down by 20% or 30%. You do that. But when you are saying that you are expecting the market to... Market is not a money doubler. Equity's market is not a money doubler. Any equity market around the world is not a money doubler. It's not a money sprinkler for you. It's a market where when you put that money, you know that anything can go because it is volatile.
• 2:30:12
  And in stock, maybe you go and at the same era, people bought it at 2,024 naira. Those people that bought it at 2,024 naira, if you do the mathematics, they are down by 27%. Meaning that those people that invested 170 million naira, if you do 27% of that, their current worth today of 150 million, like I said,
• 2:30:41
  if you're doing the math that's like their their current value will be 109 million meaning that they are losing 141 million naira in the market correctly unrealized laws you say you want to do that do not try that and this is to everybody thank you um good good evening everyone um
• 2:31:21
  Before I continue, I'd like to thank Oga Charles and Crypto Senko for all the work that they are doing. For me, I think the last couple of weeks, I think it's a warning of just how shallow the investment space on the Nigerian stock exchange is.
• 2:31:53
  I mean, there is no dispute in the size of Dangote's refineries valuation. But the fact that one private placement, we're not even talking about the IPO, that one private placement has been able to catalyze the correction in the market. I think that's...
• 2:32:22
  and understanding that the money we think we have, we might not have it. And it also brings to the fore the fact that it feels like there is very little fresh money coming into the market. It seems like it's just the same people that are circulating money within the system. I would like to be corrected if I'm wrong, sir.
• 2:32:49
  For me, I just want to encourage all the retail investors. I know for a lot of people, this is probably their first market correction. There are lessons to be learned. If we, I believe, if we take... Dami, are you there? Can you hear me, sir? Yeah, we can hear you now. Oh, okay. So what I said is that there are lessons to be learned in this space.
• 2:33:37
  And so those who take the lessons will have the opportunity to reap profitable returns in the future. I just want to, for me, I was joking with Nasser a few times that the Yakubus should please continue to manage. I know that there are a few deals, profitable deals that will open up in the market from this correction.
• 2:34:10
  And I'm looking forward to take advantage of them to improve my holdings, the nature of my holdings. Once again, I would like to thank everybody. I enjoyed the YouTube live session yesterday. And looking forward to it. Thank you very much, Dami.
• 2:34:51
  One of your points, I strongly buy into that. It's a very fragile market to think that the market is skewed towards some particular set of people. I mean, like, if you look at our index, we are setting stocks there. Once they collapse, once they fall, you know, the index is going to fall that day. And once they go up...
• 2:35:22
  The market is going to go up that same day. So again, this is where responsible organizations, responsible regulatory bodies should be actually thinking of how to deepen liquidity. And that's why the barrier to entry.
• 2:35:49
  of the market should be made easier, especially for diasporian investors. The NGS still hasn't, I don't think, I don't know how much of marketing, how much of research they do, you know, to see how eager a lot of people abroad are eager, are waiting to like invest back home. You know, this whole waiting for,
• 2:36:19
  foreign investors and all that. Sometimes you look at, they bring out the table of how much institutional investors versus retail investors are investing in the market and you see that the retail is quite high. Truth of the matter is, majority of those retail is coming from diaspora. Unfortunately, the government or the NGX has not
• 2:36:49
  has not made it so easy for diasporans to like actually get into the market because if we are able to get a pool like last last year alone uh diaspora remittance was like 20 billion usd 20 billion dollars right and uh this this amount is the same to families back home you can imagine a situation where if
• 2:37:16
  a quarter of that is put into the market you know how much that would do that that would do for the market and that's why we we need uh to deepen the liquidity because if there's so much liquidity in the market then sometimes i won't have a situation where because of one stock because the day dango cement goes down 10 percent or ntn goes down 10 percent or
• 2:37:45
  Buyer food goes down 10%. The industry goes down that day. There's nothing saving it. And vice versa, if those stocks go up, the industry goes up. So our market is skewed. We keep saying there's no proper price discovery in this market as it is right now because we are not really seeing proper demand versus supply.
• 2:38:13
  We are just, you know, we are not seeing proper price discovery. And until we get to that level, we'll continue to see things like this. And like you rightly advised, you know, we don't want a situation where people become too exuberant about the market. Sometimes people get carried away. They get too happy and all that stuff. But the good thing is, for me, it's a minor correction. I still insist. I still use that word, minor correction.
• 2:38:42
  It is not a crash. You just have to have your strategies, you know, and know what to do next. Sometimes doing nothing is the best you can do for yourself. But I can see a lot of companies, a lot of equities in the gain zone right now. But people will be afraid. And before you know, they recover, maybe like...
• 2:39:12
  the result could come and they recover to where they were before. But like I said, investment too is a long-term thing. It's not something you do on a short-term basis. So again, if you have money you want to use to execute a project, as the market is right now, I'd rather you...
• 2:39:41
  Just budget money for the market and budget money for your project. Don't go and keep investing in the market, like trying to catch a falling knife when you could actually have a tangible project that probably be generating money for you that you can later invest in the market. So let's just keep...
• 2:40:09
  Keep an eye to the market. You don't win if you leave the market. I've always told people that. Because by the time some of these equities will fall to re-bagging price, you might not be around. By the time you come, then they will tell you, oh, it got to so-so amount and it has done like 200% since you left. And then you start regretting. So keep an eye on the market. It's not a sprint. At the end of the day, the market will bounce back. Let's pray for a peaceful election in the country.
• 2:40:41
  I think everybody will be all right. I think so. Is there any more question from anybody? Feel free to ask your question. We are very generous today. Any question is allowed to be asked today because of the way the market is. Normally, if you ask us to give you advice on stocks, we won't do that, but I think we'll take an exception today and we would try and break down anything we...
• 2:41:25
  think um one thing a lot a lot has been happening in the pharmaceutical space i needed to bring up this name it company they did their rights and just last week too during their ag and they have approved another round of fundraising right and so the he begs the question why are they raising funds
• 2:41:54
  Okay, these are the things, these are some of the key questions people should be asking themselves. You just raised funds from your right issues, the result of your right issue is now everyone out, and you're asking to raise funds again. So we'll be trying to find out what's going on with the company, but again...
• 2:42:22
  A couple of policies have been made to make life easy for these pharmaceutical companies. And you may have seen what happened with Mikio, what happened with Fitzyn, what happened with May & Baker. And then Nimet, it has run too, but not as much as the other ones because for a very long time, their balance sheet was not the best.
• 2:42:49
  So, December of last year, APT Pension Fund took a 5% stake in the company, then did their right offer, and now they are going to do another fundraise. Whether it's going to be public offer, whether it's going to be right offer, whether it's going to be private placement, we do not know yet.
• 2:43:16
  So when you begin to see movement happening around like that in a company, it's either there's a new investor who wants to take over the company or the company is making a movement to do some kind of acquisition. So for anybody who is an investor in the company, I would say keep an eye on it. Watch whatever is happening in the company.
• 2:43:50
  It's one company we have kept on our watch list as it is right now. And if there's anything we hear as time goes on, we'll let the investing public know. Again, this is where the companies don't do themselves any kind of justice. They can't communicate. They can't tell people what is happening.
• 2:44:20
  I know there are certain things which are still under NDA. And there's a way you communicate without disclosing things that are not supposed to be disclosed. But they keep it. And this creates information asymmetry. People get to find out what's going on, take position, make a killing of the stock. And then before that, people know they've already made all the money.
• 2:44:49
  We will try our best to keep informing the community of any development that we hear about Nimet International PLC. But keep that on your watch list. They've done a scheme of arrangement where they had to clean their balance sheet, did some financial gymnastics on that balance sheet.
• 2:45:20
  when things begin to happen like that, you know, they are prepping either for a sale or for an acquisition. So keep an eye on that. Mansa, unmute your mic and go ahead. Okay. Good evening from this place. I greatly appreciate the opportunity you have given to some of us who are possibly coming to this kind of investment space for the first time.
• 2:45:52
  um mr senko and you people have done so well so i just wanted to ask them a little things i think i've just noticed that whenever election period is coming up the stocks tends to go down i don't know if it's a normal thing or it's just unique with our own country and then secondly i don't know if you can just throw more light on the other stocks you said that when they are going down sometimes
• 2:46:24
  the whole ngs goes down i don't know so that some of us we know and uh thirdly is that i bought some ngs stocks when they announced that they were going to give you see one stock for every two purchase and i've checked out my portfolio i've not really seen extra stocks allotted to me and then i don't know if it's a normal trend or it's just unique with the whole ngs thing thank you so much
• 2:46:52
  Yeah, I think you're talking about the bonus script for NGS. One for three, not one for two. For every three you hold, they will give you one extra share. Up to this moment, NGS itself, you see, these are the issues. NGS itself has not credited their bonus shares. VitaFoam.
• 2:47:21
  declared bonus before NGS VitaFoam did not credited those shares. And I really don't understand why this is an issue. I just don't understand. And these are the things they should be trying to address. These are the things they would do to instill confidence into the market. Like I said, in the part of the world where some of us live,
• 2:47:49
  When they tell you a script bonus has an issue, they tell you the date. You go there and it's there. It's a different ballgame with the NGX themselves. And I've repeated it over and over. This shouldn't be any problem. Extra bonus shares, dividend should not be any problem.
• 2:48:21
  Whoever is the MD of CSCS Nigeria, I have advised go to the National Assembly, get a bill to say going forward, instead of registrars of companies crediting dividends and bonuses to shareholders, CSCS Nigeria is now...
• 2:48:51
  placed with that responsibility because at the end of the day they are the registrar of all registrars in nigeria they know when you bought your shares they know when the cutoff date is and they can credit it immediately it shouldn't be any problem and for doing that for for performing that duty including uh allotment of shares and all that for performing that duty
• 2:49:20
  it becomes mandatory for every investor in nigeria to have a cscs online account okay uh which is normally like uh maybe eight thousand naira yearly right if i'm if if i pay eight thousand naira and i don't have to pursue any registrar or broker who are not even involved in the
• 2:49:45
  in the dividend slash bonus, whatever. The broker is only there to facilitate your buying and selling. They have nothing to do with your dividend. They have nothing to do with your bonus, even though most times people blame them. Take that function away from registrars. They won't be happy with this. Registrars will not be happy with this. There are a lot of people who make, a cabal who makes money from...
• 2:50:14
  people not being paid their dividend, as I warned you. There are a cabal of people who do not, who benefit from, Bono's share is not being credited when they are due. And for me, like, it's such a simple, like, for me, this is not even a problem. We have said it here, I don't know, every time we come on this space, we say these things. They listen, but...
• 2:50:40
  I really don't understand why there's so much inaction. I don't understand. I mean, like you expect so much from some of these guys, you know, who are in position to be able to execute this, but they don't do anything. So that's just where the problem is. And again, if you hold NGX, anybody who holds NGX, I really don't know why the person should be panicking. Because if the market goes down, it goes up. NGX is making money.
• 2:51:10
  So there are certain stocks you hold and, you know, like with everything that is happening, I don't know, you shouldn't be bothered. But again, if you are new in the market, you know, there's that trepidation, there's that fear, you know. I'm not, I don't, I can't remember the last time. Even with the market, this market as it is, if it goes down another 100%, I'm not sure it will affect some of my equity. They will go down 100%. Probably there are some equities that are still...
• 2:51:36
  being like maybe 500%, 600%, 1,000%. You understand? So people should learn to just step away sometimes, you know, go touch grass, go smell some flowers, you know, relax. The market does not go up in a straight line. As far as those equities, the big companies,
• 2:52:06
  the equity that contributes majorly to the NGX move the market. So if you look at the market cap of, let's say, Dangote Cement, Bois Cement, Bois Food, MTN, Aradere, Cepla, these are heavily capitalized stocks. So if those stocks...
• 2:52:36
  Only given they lose 10%, NGS will go down by 10% because they kind of control the market. They control what goes on. So on a day where you see MTN going down, Dangote Cement going down, Dangote Sugar going down, Bois Cement going down, Aradia going down, the ASI will come down that day because the portion they contribute to the market cap is probably...
• 2:53:05
  to third by the time you put those top companies together they control the market so anytime those any of those stocks they go down ngs goes down if if they go up ngs goes up uh last week there was some ranking packing be played by what is it elter edited and never traced but all of a sudden you will see hundred thousand shares traded and then to trade at ten percent up and it will move the market up a little bit but it's all you know like
• 2:53:34
  The Airtel, I really don't understand why they are trading. It's either they want to trade or they don't want to trade because it's not liquid. If you have Airtel now and you're in the Nigerian market, that's just like a big trap for you because you can't even get to buy. You can't get to buy. And if you want to sell, good luck selling that kind of quantity that will move the market.
• 2:54:02
  So that's what I mean by those big stocks controlling the market, that when those stocks go down, the market goes down. When they go up, the market goes up. I don't know if that answers your question. Yes, thank you. Thank you so much. This is so enlightening. And what you talked about, the NGS and the way they have been running their stocks, I think if there are some CSOs,
• 2:54:31
  civil society organizations or if some people who are really influential in this sector can really come together and try to push this. These are doable things. Most of our legislators are really investors. Like, I don't know, but then when we tend to not ask the right questions, we allow these guys who are doing their hanky-pankies to take the ground and then do whatever they want.
• 2:54:58
  I think he just had time. We start talking to the right organization, the right people, so that this whole thing changes. Thank you so much. You people are doing so much and we appreciate you guys. Thank you so much. Thank you. Thank you. We appreciate you too. We appreciate you. Mudiaga, I don't know if you want to say anything today. Dr. B. Rich, if you want to say anything, the floor is yours. Who else is here?
• 2:55:32
  who am i looking for let's see anybody no comments today should we hold our other pending dango t ipo as far as i'm concerned as far as i'm concerned there's nothing wrong with our other you know there's nothing wrong with our other uh and i just like i i just said you know uh the the acquisition they did was a very it was like a smaller company buying
• 2:56:20
  buying a company that is bigger than it by like 10 times and you know it will take time for for in fact the synergy we are seeing already uh there's a lot of debt uh they have a lot of cash uh their gas is doing wonders so if you don't have if you don't if you don't have the need for the money you have invested in and you have extra i'll say keep buying you know it's uh
• 2:56:49
  People bought at 2,000, it's 1,400 or whatever today. In another year or two, we're talking about 5,000. At that time, I started regretting, I wish I bought more. So that's the nature of the market. A lot of investments have gone into these companies and we haven't even...
• 2:57:19
  We haven't even seen the results yet. So if you're a long-term investor, I would say hold your ARA there. Hold your ARA there. And if you ask me the way things are going, even though as it is right now, CEPLAT is looking cheaper than ARA there. But I'm always very concerned with people who run companies. So let's just see. Let's just see what the new management of CEPLAT has in store for us.
• 2:57:50
  Immediately, I see certain signs that he's going the way the companies, the new head, if he's going the way his companies are going, then I start having a change of mind as to whether to continue my journey with Aradale or with CEPLAT or port to Aradale.
• 2:58:18
  Do your research. Know the people who run your company. Know their disposition. Know what they are up to. Know their credibility. And that should determine how you do your investments. We don't know it all. We just work with information that we have. Sometimes it might be private and sometimes those information is public. We just need...
• 2:58:47
  need people to do their own due diligence. Right now, if you have noticed, if what we are experiencing in the market goes on for another month, you will see all those fake influencers all disappear from your timelines. You won't see them again. But we are not going anywhere. We will be here.
• 2:59:17
  We will guide ourselves through this journey we are going into. Like I said, like we always say, investment is not a sprint. You just have to be in the right equities and be patient. It's going to pay off. Nigeria is cheap. Nigeria is grossly undervalued, and rightly so, rightly so, because we have not put our house in order.
• 2:59:44
  If we put a house in order, then nobody will be coming to buy GTB for the price they are buying it right now. Nobody will be buying Zenith for the price they are buying it right now. At the end of the day, how much is Zeppelin? Zeppelin is about $7 or thereabout. Aradel is still maybe $2. So they still have a lot of room, or $1.
• 3:00:13
  That's what Aradel is costing you. If you are buying Aradel, you are buying like five oil and gas companies. So people do not know what they have sometimes. I think what may have happened was that delaying result did not do them any favor. They had problems with the auditors because the acquisition was kind of very, very big.
• 3:00:43
  like it took time to uh piece certain things together and then people were losing interest and all that because if they had released that result when when it was supposed to be released the price would probably would have gotten to like maybe 2500 and then it will retreat now to like maybe the 2000 range so the timing sometimes is very important nobody knows what is going to happen i heard senko was blaming uh regency
• 3:01:13
  alliance i'm not sure they knew that things like this will be happening in the market at this time you know but again that's why it's good to act promptly and for regency alliance too i just don't understand how you want people to take part in your right offer when we don't have your year-end result for 2025 up to this moment and i don't even understand why sec should allow
• 3:01:47
  a registered entity to be doing a right offer when we don't have result for their year end for 2025 because if anything was going to save them if anything if anybody was going to say okay let me still take my right they'll be looking at the results and they'll say okay this is a mispriced asset here so yeah this will come good but up to this moment we do not have their
• 3:02:15
  20, 25 year end results. I don't know what SEC is doing. I don't know what the company is doing. And in situations like this, it's not just enough for you to say you're holding a right offer. This is the time to come and tell investors what they expect from that right offer. Is it just for you to meet the new market capitalization?
• 3:02:47
  Again, they might not budge because, like I said, right from the word go, I knew when they shortened their number of days for their offer to 10 days, I knew already they have somebody who's going to take up all the rights. So I don't know what's going to happen. I don't know what's going to happen. I was looking at it from...
• 3:03:16
  The perspective that they might be doing some kind of merger with another company. You know, like when a company says I need only 10 days instead of 28 days, it tells me the money is guaranteed. And that's why we were waiting for them to come with the offer. And I was thinking, OK, maybe they're hoping, maybe they want to release the result. And then people will see that, OK, this is a very good company to invest in.
• 3:03:47
  I mean, this is half year 2026. We have not seen year end. We have not seen a first quarter result for 2026 either. So I really don't know. I mean, like SEC cannot even compel any company. SEC has no morality to ask any company to release any result because they have not released their results since 2022. That's our chief regulator. They can't release their results.
• 3:04:18
  And one of your primary responsibilities is to make sure that listed companies release their results to shareholders. And the company that is supposed to be responsible for making sure that these companies do that cannot even release its own results. It's not by coming on TV and speaking English. English has not helped anybody. And I really don't understand what they want us to do. I don't know what else.
• 3:04:48
  They expect us, they expect we should just keep quiet and be clapping for them for not releasing results 2022, 2023, 2024, 2025. Does it make any sense? It does not. People will not take you seriously. But it's the situation we are in and we just have to navigate it. Sometimes doing this is very tiring. But what are we going to do? We can never give up.
• 3:05:17
  We can never give up on Nigeria. We cannot. Because at the end of the day, Nigerians are great people. It's just that we've never had good leaders. That's the problem. We've never had good leaders. Every time we come here and we ask who is the Senate committee chairman on capital market, we don't even know him. I mean, you would expect that one day the guy will step in here and say...
• 3:05:50
  I've been hearing a lot and I think I have to come into clear certain things. I commend you guys for what you do. We promote NGS more than NGS itself. For anybody who says we are demarketing NGS, we promote NGS more than NGS itself. I just think it's just an ungrateful organization who cannot recognize the fact that there are people who are always there promoting the market for them, for nothing.
• 3:06:19
  And then they go and organize spaces and they are teaching people how to invest, fundamentals of investment. That's what they come to teach people. You cannot pay your bonus, you cannot credit it. You are the exchanger. You declared bonus over how many months ago, you cannot credit it. And then you want to tell people to credit their bonus. It makes no sense to me.
• 3:06:51
  So the regulation is very lax. They know that there is no repercussion for any of these infractions. So they continue to do it. But as long as we are alive, we'll continue to point it out to everyone investing in the NGX. And that's not to discourage anybody. It will get better. It will get better. All we need is just one person who is aligned with us. And we say, you know what? We are changing everything. Once the will is there.
• 3:07:22
  They will do it. You think people are investing in NGS because of NGS? What has NGS done that will make people invest in them? What is NGS doing to bring more companies to list? We are talking about the fragility of the NGS when a couple of companies can swing the index up and down. We have more than 500 companies. We have better companies than most of the companies listed on the NGS that are not listed.
• 3:07:54
  What is the motivation? What are you telling? What message are you sending out to these unlisted companies? How much marketing? How much drive? Have you gone to, let's say, China's television? Have you gone to Arise TV? Have you gone to Enugu Rangers International? Have you gone to just name? There are so many companies. Have you gone to Coleman?
• 3:08:30
  To get these companies to come and list on the NGX, you just go to UBA, you go to Asset Bank, go to Dangote, already calculating how much fees they are going to make from Dangote Refinery, and their year is made. Nothing else. You are whitelisting for Dangote. Why did you not whitelist for other companies? You just, the way they think is so short-sighted.
• 3:09:03
  what plans do you have to get more Nigerians into investing? How are you going to achieve it? So a lot of infractions have been going on in the market. What punishment has been meted out to any of those people? It's not glitching today, it's glitching tomorrow. There's no weekend you go to NGS site that is not down. So what are we talking about here? And then we come here every Sunday, still encouraging people, telling them...
• 3:09:36
  There's so much potential. It becomes a problem when you are perpetually undervalued. And that's some of the problems we have with some of the companies that are listed on the NGX. Oh, it's undervalued, undervalued, undervalued. How can you be perpetually undervalued? That means something is wrong. Something is not right with you when you are perpetually undervalued. Some companies on the NGX, they never move. They're just static. There are some they've never traded.
• 3:10:08
  Why are those companies on the NGX? So we had a situation where UB Cup, United Capital took a stake in NGX, 5% stake in NGX. And from all indication, it looked like the 5% stake that they took was sold to them by VFD. Okay?
• 3:10:43
  But my point is, at least we know United Capital, they took a 5% stake. You don't need any explanation. Even though it would have been better if you did a proper filing and tell us who bought and who sold. For somebody to get 5%, that means somebody must have exited 5%. That should be something that should be materially disclosed to investors.
• 3:11:15
  Around the January or February of this year, one unknown entity that was registered in 2025 took a 5% stake on the NGX. Tomorrow, nobody has told us what company that is. We don't know anything about that company. It's different from UCAP taking a stake there because everybody knows UCAP. So what am I advocating? We should be reporting.
• 3:11:47
  in a better way, in a clearer way. It's not enough to say a 5% stake was, a new entity has taken a 5% stake in NGX. The buyer was cordless. The seller was cordless. That does not tell me anything. We look at the financial reports of these companies and we look at the owners of these companies and sometimes when we see the owner,
• 3:12:19
  it gives us confidence to buy those stocks. So if an owner is exiting a company and I'm not aware that that owner is exiting, then it puts me at a disadvantage. And that's how Otedola was able to sell from Gerigou, and nobody knew. By the time they knew, it was five months later, and retail investors are left holding the bags.
• 3:12:48
  They can't get out of it. So we have a reporting problem in the NGX. And something has got to change. But let them pretend like they are not listening to us. But we know where we are waiting for them. We know where we are waiting for the NGX. And I'm sending out this warning again. I don't want to see any NGX personnel in the White Party organized by Mr. White Party.
• 3:13:25
  If it happens, those photographs, they'll be all over the internet. And that will probably explain to people why these companies get away. I mean, like, if we are parties and I do anything and invite you to my party and all that with me, why are you going to hold me responsible for any infraction I commit in the market?
• 3:13:56
  You cannot. You cannot. And these companies, they should try and help us. You see how easy it was for a gentleman from nowhere. We don't know where he's from. He goes to Dangote, he gets an interview easily. He goes to Tune Limeli, he gets an interview easily. If it's us, if serious people want to hold interviews with these people, it's not going to happen.
• 3:14:29
  But when clowns, when Olodus wants to shout Santa Elu and make it full of themselves, you will see them hanging around UBA and all that stuff. If I went and say, Mr. Tony, can I have some few words with you? They will kick me out before they even look at me because my skin is different. We don't respect ourselves. We do not. Talk about Africa capitalism.
• 3:15:04
  Yet we cannot accord the respect we give to other people, to ourselves. So we will keep speaking about these ills that is taking place in the market, hoping that at the right time, when the right people get into these offices, they will start making these changes. I'm just giving CSS.
• 3:15:40
  And just imagine, I don't know how many people have online access to their CSCS account. Let's just say maybe we have 200 people, 200,000 people having CSCS online. And we probably have 2 million CSCS account. Do you know what it means for you to convert those 2 million?
• 3:16:12
  to start paying for your online services every year. That's more revenue, more capital there to do whatever you want to do. Go, go to the National Assembly, tell them, going forward, we want to stop this unclaimed dividend. It should never be a thing. It should never be a problem. Unclaimed dividend should never be a problem. The day your dividend is declared on the payment day, you are getting your money.
• 3:16:42
  It should be as simple as that. They don't need to invest in anything. Everything is already in place. But the status quo, people who benefit from this will never let it happen. And that's why you need legislation to change it. But again, we are dealing with a lot of generations, a lot of legislations, a lot of... I mean, look at health care. Look at health care.
• 3:17:17
  We are looking at Mayhem Baker, we are looking at Nine Met, we are looking at Fitzy, we are looking at Mercure. Go and check the market caps of all those companies. It's next to nothing. It's not up to buy food. Put all of them together, it's not up to buy food. So healthcare is one area where we haven't started looking at anything.
• 3:17:50
  We have world-class doctors, world-class healthcare professionals all over the world. But we don't have a single world-class hospital in Nigeria. Chimamanda Adichie wanted to be patriotic and he killed his child in Nigeria. At the slightest opportunities, our politicians, our president, our ministers, just named our governors, they will go abroad and...
• 3:18:25
  go for medical treatment to disgrace us. And then by the time they leave, our colleagues are asking us, man, I thought you guys had, you have Nigerian doctors all over the place. How come these guys are always coming here for treatment? None of them has thought it necessary to build a world-class hospital. Turkey is the headquarter of medical tourism. They make a lot of money from medical tourism.
• 3:18:59
  I was talking about this yesterday in our YouTube live space and somebody was saying, oh, yeah, there are a couple of people who come from the UK for surgery because the wait list is very long. But why don't people, why don't these so-called elites see that opportunity? You can't be talking of Africa capitalism where you cannot take care of yourself.
• 3:19:27
  It's not every time you have six hours to make that flight. It's not every time. You might be dead within six hours. Time is very critical. When are we going to have a world-class hospital? When are we going to have our doctors? When are we going to start having our doctors being flown back to do those operations instead of you going there to disgrace yourself? And this is where I always tell people. At the end of the day, these Western countries...
• 3:19:56
  They are only interested in what they can get from your country. They're not interested in your welfare. They don't really care. Because if they did, when these politicians and reckless leaders go abroad for treatment, you send them back, you deny them, go back to your country, go and build a hospital that will take care of yourself there. I mean, you have brilliant doctors all over the place.
• 3:20:26
  If you set up a proper hospital, these guys will come and they will help in developing the place. I know when I say things like this, people get angry because they've lost it. Part of the Olodo generation that people are talking about, to think critically is a problem. If you're not well, you can't do anything. You need to be in a proper state of mind. How can we have doctors all over the place and we don't have a world-class hospital in Nigeria?
• 3:21:01
  How come? People are dying at the slightest opportunity. They are flying out. Ex-governor is flying. You are a governor for eight years in your state. You couldn't build a world-class hospital. So these are the issues, and we need to start addressing these things. And these are areas. We are talking about creative economy. What is happening in that sector? Why is it that nobody is seeing opportunities in creative economy? All we are...
• 3:21:38
  interested in, oh, Davido sold out O2. Why can't we build our O2? Why can't we? So sometimes, you know, like, we do this, you know, it's very frustrating for us, but we have to continue to do this. Because, I mean, like, that's the only way. Which other, what, I don't have money to, money will not solve Nigeria's problem. You need brilliant minds with brilliant ideas.
• 3:22:11
  Let them come together, create an enabling environment, and you'll see the true Nigeria. So this is like the NGS. That should be a shining example. At least, even if nothing is working well, make the NGS work properly. Just do your utmost best. Communicate properly. Let us know what is going on. Attract more people to come and invest in the market.
• 3:22:52
  But I don't think we have that agenda in what we want to do yet. And they listen. I know they listen. They pretend they are not listening. They listen. A couple of them are my friends. I know them personally. I don't know what they go through when they get into these offices. I don't know whether they don't let them do what they want to do. But my prayer is...
• 3:23:28
  Let's get the right people to get into these offices one day. You will see how easy these things are. They make it look like it's complicated. Oh, they make it, oh, my hands are tired. It's not true. See how easy it was to change our national anthem? Bunch of clowns just gathered together. After drinking, oh, let's just change the national anthem. And it was done within days. State police, boom, within days. Because once they make up their mind, they will do it. So we have to keep pushing. We have to keep pushing. We have to keep...
• 3:24:08
  telling people the right message respectfully, even though the truth hurts a lot sometimes. You tell people the truth, it looks like insult because you are telling them the way it is. We can't be making things look like they are not bad. Things are terrible. People say, oh, the stock market has been wonderful. People have made a lot of money. But it's not trickling down. You're not seeing the effect on the ordinary man. Once again, like we always remember, those young,
• 3:24:49
  young kids who were kidnapped from school and their teachers and everybody that has been kidnapped in Nigeria. Our heart is with them and we pray for them always that at the end of the day there will be a peaceful resolution and we pray that nobody ever goes through that kind of trauma because no matter what happens it will be difficult to think properly again because at any point in time your mind flashes to
• 3:25:19
  That event, you are just not yourself. But people will not understand. We are a school. We KSB. You go to school and that's the end of your story. So let's just keep pushing people to do the right thing. That's all we can do. Anomski, any more questions on the comment section? I see no questions.
• 3:26:04
  So I guess in the absence of questions, we call it a day. Damien Mollard is struggling to set up his CACF account for about a week. I think the best approach would be to tweet at CACF. Maybe you would get a response from them.
• 3:26:31
  I think that's pretty much about it. I don't see any other questions. There's somebody here. Just hold on, please. Because this is the only place everybody is allowed to say whatever they want to say. Daniel, unmute your mic and go ahead. Daniel, unmute your mic and go ahead with your question or comment. Daniel, are you there? Okay. Anyways, I don't think you can give us a closing remark.
• 3:27:13
  All right. Thank you everyone for joining us. Just before we go, please, if you're new here, check the pinned tweet. It has all the social media platforms for Great Ticker Tales. It also has all the handles for everyone. So I say follow as many as you can follow. We will try our best to be as present in all the platforms.
• 3:27:42
  For a lot of people, I know Twitter is probably the first point of contact. But beyond Twitter, we're actually active in a lot of places. We're active on YouTube, Spotify, Telegram, Instagram, TikTok, Rumble, which we've just added. So I would say follow all social media platforms from time to time like we did yesterday or we did two days ago because it's Monday morning in Nigeria.
• 3:28:12
  um we would also be we'll be going live across platforms facebook tick tock instagram uh so you want to follow our platform just keep an eye and keep up with what's happening uh with the markets as well as well as the website and subscribe so just follow all great platforms i know it's impossible to check all platforms every day but i would say even if you cannot actively
• 3:28:42
  be on all platforms do follow all platforms uh some content will go out exclusive uh to certain platforms it could be facebook it could be ticked off instagram could be soft stack so i even follow and just keep an eye on them i thank you all for joining have yourselves a great hopefully profitable week okay have a great day guys take care