Latest / Green Ticker Tales / Greenticker Spaces May 24, 2026 Part 2

Transcript

Greenticker Spaces May 24, 2026 Part 2 · Green Ticker Tales

• 0:33
  Ladies and gentlemen, I believe somebody has gone to pour some libation to the gods. And hopefully this space, this second half should go well. In any case, I'll get right into it. I start from, I stop, I dive back a bit. Last week was a fairly flattish week for the NGS. Why do I say so? The Ocean Index appreciated by...
• 1:02
  uh 0.71 percent that's what i see in the ngs weekly report but when i look at the uh the figures themselves i've seen in 1.03 percent when i say 0.71 percent of what i say 1.03 percent of well was the marginal upward movement um yesterday we are up about 7.3 percent so while last week was flat
• 1:33
  this month has been looking rather dull um here today it's been a good ride so far for the markets with the index up at 57.3 percent uh we're beating inflation uh we're doing higher than the 10 yen and john government bond and uh we are also at this race probably we'll do better than what we did last year the last day the market was up about 50 or 51 percent we are 27.3 percent uh five months into the year
• 2:03
  While it was a flat week for some of the individual stocks, they went on a bull run. Chemical analysis product PLCCAP was the best performing stock last week, gained 60.9%, closing at 233.7%. I believe that's an all-time high for that stock. Some of the other notable gainers, Pega Pains of 108.6%, that's closing price.
• 2:32
  percentage spent bigger pain gain is 2.84 percent but he had started sugar closing at 93 naira seven naira away from the hundred naira mark of 33.43 um it's like so for some of these stocks cp ftm coco at briscoe dangody sugar bigger pace was a good run on the market on the flip side you also have stocks that fell you know at the world
• 3:02
  We have sunshine in some parts of the world, rain in some parts, so it's all good. So while the sun shined on some stocks last week, the rains were as heavy as the rains we've had in Lagos on some stocks last week as well. NACO led the users, fell by 21%. I think you can partly attribute that dip in NACO to the markdown.
• 3:31
  naco was marked down for a seat national basketball dividend and one for seven um bonus you have guinness in the red down 18.9 percent losing at four 2.6 mcn nigeria just closed slightly above 800 naira it's a 1.1 to be precise down 12.45 i think when you look at the magnitude of gains last week and the magnitude of loss it lasted you clearly see was a good week for the markets because you had huge gains
• 4:01
  and the losses were rather tiny. Worst performing stock this week fell, or last week, the worst performing stock fell 21%. Best performing stock gained about 61%. So, it was a fairly good week. What else happened in the markets? Card numbers from First Gold Coal. First Gold Coal is the parent company of the popular First Bank of Nigeria.
• 4:29
  and as i like to say whenever i discuss personal school old names say it hard so don't be surprised some people are still discussing i'll still tell you we're discussing first bank shares um holding companies was listed but that's prior to now was the bank that was listed and so in any case the bank is still the biggest entity on that needs that structure so whether you call it first old school when i call it first bank shares
• 4:59
  you will not get lost um the results were out luckily market reaction was kind of muted i think the biggest headache really with this outcome is we've seen the sweeping out i would say sweeping out of certain people there we'll see a balance sheet clean up what i find odd amidst all this is
• 5:34
  there's a plan to raise for that equity i think it pays about 250 billion in equity um i don't get why it's happening to do so aim is to hit the 1 trillion capitalization paid up and share premium combined i don't see the essence of doing that and i think maybe um as a layman i'm just wondering you raise 250 billion where are you going to deploy that into this economy
• 6:06
  one of the criticisms of the banking capitalization part and I mean that come is that you have a lot of banks having to raise capital that's not going to deploy effectively. So some of the banks, when you look at the use of funds, branches, expansion and modernization, IT, I just tell you, debt to the banks, they probably have enough capital.
• 6:36
  fact some of the tm1 banks actually over capitalized so um one of the videos we could teach on the channel we briefly touched q1 numbers i guess within the week we should have uh they brought up fuga's q1226 as well as fyi i still keep an eye on spotify on and if you're not following on facebook keep an eye on facebook as well who knows we may have the content out of facebook exclusively so
• 7:07
  FY2026 was kind of poor for First World Co, over 200 billion in commissions. The honest number to me, and I need to go play back the call, we had somebody on the team on the call, but I don't quite see if I recall correctly, is how in God's name did the management of First World Co spend 180 billion Naira last year?
• 7:38
  PR and marketing related expenses. I don't know if somebody can explain that, but that's Huawei. And we are yet to get a check in the Facebook group page. We are yet to have the MP3 loaded, but keep an eye on our green ticker platforms. We'll have our thoughts on that bank out in a bit. Q1 was quite good.
• 8:12
  impairments still remain stubbornly high i don't know i guess well people have to live with that with first uh postcode but q1 numbers were good and i know well spin doctors where i was trying to spin it but look at the moment first of all who does not hold the can't hold the torture how they can do compares to uh selling time gtco in slash when that happens so
• 8:44
  I think that was the highlight for last week's first old school numbers. What's happening this week? We're still waiting for a couple more banking numbers. At this point, I think it's becoming an environment. We are about one and a half months into the second quarter. We are yet to get updated to 25 numbers from banks.
• 9:15
  While in the same banking environment, some banks have dropped their Q1 numbers already. But in any case, we continue to watch the market, watching for when, slash if, Fidelity Bank, HCMB Group, and Sterling Rothko will drop their backlog of numbers. The NGX corporate disclosure portal runs 2.7365 days a year. In our experience, those numbers will come out at any point in time.
• 9:48
  It could be out this evening, it could be out tomorrow morning, it could be out Friday evening, whenever. So continue to watch out for those numbers and if the numbers are released Nicodemus Lee would also hold his space. I'd also like to address a couple of questions. Why are we holding space so late? Simply because results came out so late and we decided to
• 10:19
  to holding space to discuss results. We were left with no choice because imagine if we had three banks, and I think we may have three banks drop their results this week. If that happens, we have no choice but to hold the space, as inconvenient as it is. We had a couple of earnings calls last week. I give kudos to management of FedSoldCo when it comes to the investor relations, at least when it comes to circulating call details.
• 10:53
  they do a good job. The only thing missing from that bank is you just need the performance to be good. Other than that, they do an excellent job. They held their call on time. Results came out shortly after. Results came out, call details were available. So kudos to them on that. I believe the management of Transco also held a call sometime this week discussing that.
• 11:22
  As well, somebody on the team was on the call. I think the key takeaway is in a couple of months, we should have some more details regarding the Iko'i Hotel Project and Iko'i, your legacy Lagos events, et cetera. Yeah. We should have more details on that. Kudos to the management of Transco for doing that. I also think, I can't quite remember, but I don't want to misspeak.
• 11:54
  i think there was one more company i had a call last week i'm not sure what the team was in the call so i had a couple of calls last week uh this week history was made last week and who knows maybe history will be made this week last week we had the tango this event joining the one thousand era club uh we briefly touched it a couple of videos uh and in case some people might wonder what is this
• 12:27
  It's the part of Nigeria where I'm used to. I think you can still have a good meal with 1,000 naira. I don't know if the meal will fill you. I don't know about the direct trip quality of the meal, but 1,000 naira is a big amount of money anywhere in this country right now. So when you have a stock trading at 1,000 naira for one share, it's a big deal. You have less, I think, 8 or 10 companies on the NGX that are trading at 1,000 naira or more. You have about 155 companies listed on the market.
• 12:59
  I believe. So that 1,000 Naira mark is a big deal. But in any case, as Dagodece made the journey to 1,000 Naira, close at the 1,088 Naira, what prompted that? It's news that possibly you could have Dagodece immediately set an understake exchange. I'm sure if you go online, you can see the Financial Times interview that Aliquot and Dagodece gave.
• 13:33
  It happens, fine, but this is not the first time that we've had such moves or news or reportage around this. This has been on the wish list of Tangoti for at least pushing 5 to 10 years now. Let's see if this year will be the year that it actually happens. It looks like this year is looking like 2026 in the year for Tangoti.
• 14:04
  because you have a refinery listing warming up you have a defense listing in london warming up you also have expansion works across the continent for me now so um i'm sure the pilots one of the private jets belonging to the group i'm sure that they're going to have an extremely busy year
• 14:38
  it's a liquid that we think is causing the continent so that's what we that's the spot that remains on our radar and i'll say lastly for me before i hand over to charles aradale is there either results can or should be out anytime from now the stock market you know when they tell you or not before a certain date it means that results can be out anytime from now it could be tomorrow it could be next week
• 15:13
  it could even be this night so continue to watch that story we continue to want to broad markets i think at some point in time we have cryptos that could come up with technical assets so it's been an interesting uh that's because interesting i think this would be interesting as well uh at some point in time i guess we have a few guests as well at this point i hand over to charles yeah thank you very much and greetings to everyone here on this space
• 15:45
  It's going to be a little bit different today. I see Olumide on the space, and I know Olumide tries his best to transverse, move from one space to another. So anytime we have him on the space, we give him the honor to say what he wants to say so that he can attend to other things. Also, we have in our bid...
• 16:12
  In our efforts to deepen our markets, we've started internal cooperation with our Ghanaian brothers and sisters. So we have a special guest from Ghana, too, who's going to tell us about what's happening with the Ghanaian Stock Exchange and how we can integrate our markets, especially in West Africa, especially with all kinds of listings coming up.
• 16:41
  You know, like you are in Nigeria, you just think everything is all about Nigerian companies and all that stuff. But again, if you notice the trends, we are coming to that phase where we have to realize that at one point or another, Africa is going to be playing a very pivotal role in world economics. You've seen power shift from...
• 17:07
  Great Britain to America and somehow now that America's grapple hold on the economic situation of the world is we are gradually losing it and it's going to probably be Chinese and eventually it's going to come to Africa if we all come together as one continent and begin to do things together so in that
• 17:34
  in the in the in the spirit of that you know we're always forward looking people here and we are trying to see how much we can integrate our the retail investors all over africa and then you know it will give us a head start when the uh various exchanges decide to do stuff to make it official so without wasting too much time
• 18:01
  I'm going to defer to Olumide. I want Olumide to give us his view of what has happened in the Nigerian market, how the companies have performed, what he has seen from the year-end result vis-a-vis the first quarter result, and where we should be looking at for more actions in the market.
• 18:30
  olumide welcome to this space yeah thanks um charles for inviting me and uh i actually was um coming here to just listen briefly i was writing some reports for the week you know i'm a writer and i wanted to make sense of what um and other people were going to say but i think it's been an outstanding time period in nigerian stock market
• 19:00
  uh you look at the year-to-date almost 60 percent uh you look at uh stocks that are rallying you see the heavyweights you know from zebla tara del banco to cement broke the 1000 naira resistance and you know you begin to wonder the excitement coming around the market you know the market valuation of the market now it's over 110 billion dollars you know despite that improvement is still a
• 19:30
  a pond besides South Africa stock market you know when you look at the size we're just about the tenth and it brings to the fact that opportunities we've always seen that most of these companies have been undervalued I'm speaking generally on all the companies now but you know we have a lot of problems before I start with the problems I want to make an outstanding acknowledgement to people that really invested
• 20:00
  before the bull run. It's been tough. The market has been inconsistent. At some point, I was expecting a pullback. And, you know, I think I was disappointed because the reforms around the pension funds came triggered also the early run. And we saw big players like Illumili buying into Zeblad. So all those things mattered. And before you knew, the classification was coming in Q4.
• 20:27
  and institutional investors and setting and player style positioning also with the investment has gone up you look at the influence of social media over the years i've always felt that the people that really mattered were just institutions and Nigeria's richest men i think now i'm getting the the passive response that people on social media and retail are also showing interest
• 20:53
  but when you look at the world of the stock market that's where it becomes sad you know i look at danko's world already bloomberg data shows that he's up by uh he has made at least six billion dollars this year his world is at record high 35 points roughly about that six billion now when you factor in the fact that the market value values danko telephone at about 45 billion dollars you are expecting that quality to clock 50. uh
• 21:22
  by the successful listing. So does that make Nigerians richer? Yeah, you could argue the fact that Danko Define has brought in jobs. We've seen the markets changing. Nigeria now is the net exporter of refined petrol for the first time. And that's really good news. But for the average Nigerian, you know, many people are not exposed to the stock market. Disposable income is weak. Our stock market credibility is not outstanding.
• 21:50
  you get to buy stocks you'll be wandering around like uh you're going to a shop that is very illiquid so the market really has a lot then you see some results you see some companies they post you see that before they post the stock has really rallied strongly so we still have those things to really work on credibility around insiders trading questions around corporate governors anonymous spoke about the fact that some companies are not with these results you know
• 22:18
  These are things that will not fly easily on the NASDAQ or the New York Stock Exchange. So those are concerns for a lot of stakeholders in the business. However, I think one of the lessons a lot of people should learn is that, you know, the people that really made the best of it are people that bet when things were ugly and they weren't very big. You know, at some point you want to say, how bad will it get in Nigeria? And you could see in GT, you look at Zene, you look at...
• 22:47
  even jay is you look at wema when i used to be spending stock now it's quite difficult to get with my uh but you see where my blue 25 now so it's it's exciting it's cool but i think before i drop the mic i just want to say three things first of all i think for people looking at position what to buy i think you should be very careful because now yes we're in an extended run but and stocks we look fairly on the value
• 23:16
  i still have that confidence that a pullback should not be unexpected and that's pretty much because there are lots of things that are still gaps if you look at the macros for example the macros are not too pleasant the macros are good but the micros are not showing uh disposable income is still weak uh the election is coming in play we're seeing uh the fact that banks now uh
• 23:44
  becoming more transparent with Cardoso's new rules on radical forbearance and other FPC, FX violation against evaporating. So when you look at all those things and take a look at the outlook, it means that the best might not be. And yeah, the market is expecting the president, the incumbent, to win the election. So we don't expect rapid volatility. But I think.
• 24:12
  in the banking industry um i think questions should be a lot of people should play caution you see the fact that assets uh you saw the fact that first bank you saw the results and if you if you are a surgical analyst you know you have to be worried about uh what's happening at one bank so i think people should not get too excited with the bullish one and also i think uh
• 24:42
  the optics in Nigerian stock market because if you look at Aramco what Aramco did to the Saudi stock exchange because I never used to look at the stock exchange in Saudi Arabia until Aramco came on board so I'm expecting when Dankoti comes into play it's going to encourage businesses to also list because that's another problem
• 25:03
  While I said that, I think we also need to look at the fact that our floating rules need to change. You know, Nome spoke about Dan Kuti's cement. I've always expected Dan Kuti's cement to have listed in the UK. But for him to say he's going to list in the UK, I think he has to sell some of his shares because the UK will not allow that percentage, except they will consider, I don't think they will allow him to hold SADA.
• 25:23
  so that's why i was not surprised when he said when he couldn't even use that so we also need to look at floating rules also uh apart from nigerian banking stocks most of our stocks are used to be manipulated and that's what a lot of people see outside the country and that's another problem so while we are excited by the class we're also with the classification of frontier status we also need to look at a corporate governance structure the fact that the market is not liquid uh
• 25:51
  the trading hours extension uh was expected to really bring in activity but we don't really have a solid market making structure uh the market is not fluid and still disposable income like i said is not something to write them about so we people that are really investing uh yeah the interest has grown but it's the in terms of liquidity we are not seeing that we are not seeing that uh validity as much as we expect so finally i think
• 26:21
  Well, Nigeria still has a lot. I think if we get things right, there are still a lot of companies, solid companies that can come on board, that can push the Nigerian stock market to at least 3x the way it is. But these are things that need to be addressed. And I think Onome and Charles have been doing a good job trying to promote, because I'll tell you for free, the stock market has been one of the most boring topics in Nigeria finance space for a while. I remember when I started.
• 26:49
  i had to use crypto and u.s stocks to ginger to pour because nigerians were really skeptic about stocks and i couldn't blame them because first you are you are looking at a currency that was not stable you're looking at a market that was not liquid and also information was not and what happened in 2008 2009
• 27:13
  where a lot of people's parents lost a lot of money that also cast a spell so i'm so happy that you guys are really pushing out the work keep on the job and i close with this i think i shared a chat on my in the morning and i said i've always been someone that followed these rules i don't need to create the rules i follow the rules of successful people and i'm nigerian by blood and i tell you that
• 27:43
  If you want to get things done easier, it's either you're exceptional or you follow the path of rich people. And I think to be exceptional, you have to be very, very good. And that is very difficult. But I think to follow the faith of successful people is much easier. You can see that Tony Lumili, for example, clogged the billion-dollar status because of his position in Zebla. You can see that Dan Kutiria. So what I'm seeing in essence is that you don't really have to put money in the stock market to become successful.
• 28:10
  but the knowledge you acquire from this space and topics and reading around stocks can also empower you on how to create many successful businesses, how to plan your destiny in such a way that you understand the importance of financial management.
• 28:29
  in your day-to-day activities so i think no knowledge is lost i think for people that don't have phones please don't lose hope and for those that have phones don't get carried away and for those that are coming please you all started from somewhere uh you just need to read everybody's stories nobody started with the ultimate um one fantastic amount so don't give up thank you very much for having me on the space
• 28:52
  Thank you very much, Olumide. Always a pleasure to hear from you. And if you were wondering about the chart Olumide was referring to, I have dropped it on the Jumbotron. He says the simple reason why richest men in their best form is the huge growth in the stock market, not the real estate market. So Olumide is somebody who is...
• 29:20
  who is always very down to earth with his analysis. And that's why, like I said, anytime he shows up here, we give him the honor to say whatever he wants to say before we allow other people to go. And, you know, if you're not following Olumide already, then you are missing out.
• 29:40
  like i said his his analysis about the market is very very incisive and you can tell he's telling us now to be a little bit cautious the market is not going to go up forever and you know like what we've been preaching on this space you know it's gone beyond where market just crashes like that i think uh uh actual scientists they now know how to they know how to prop the market or because i mean
• 30:07
  Every day, I think the statement that Trump makes, the market crashes like every day and comes back up in like a number of days. So we are not going to experience that kind of crash, 1932 type of depression we had, or the 2007-2008 crash we had in Nigeria. Because during that time, you know, there was so much...
• 30:35
  like we are complaining about information asymmetry as it is right now it was worse then like you you basically had to like send a mandate to your broker and your broker might take like a month to execute that those times have passed and like uh we see that there are a lot of developments that are going on in the country there are areas that we have not even touched yet there'll be so much investment made in certain sectors that
• 31:04
  that are yet to crystallize out to everybody. And, you know, like when Olumide was talking about the macro, you see like people in the stock market now, they are like, okay, doing very well, but it's not trickling down to the ordinary man in the street. However, that's what we are trying to do. We want to get as many more people to get invested in the market. Dangote is said to have made $6 billion this year. But like, would you really blame him?
• 31:35
  Because as it is right now, the stabilization of the Naira today is due to the fact that that refinery is running. This same man has come out to say he's going to build a power in Nigeria. And if he does that, we can well forgive him all these things. Even though the London listing should be taken with a pinch of salt.
• 32:04
  Even in the Nigeria market, we have liquidity with some of the stocks, not to talk of having to go to London. London will not tolerate that. But again, let's be hopeful. Let's hope he can do it. You never know. Dangote might just be winding down. What I mean by that is he might just be at that stage of his business life. He's now allowing some succession to take place, you know, of recent.
• 32:33
  Two of our daughters were appointed to the board of some of his companies. And, you know, chances are it's just, you know, the guy has tried. He needs to rest. He needs to enjoy his money for a bit. And if he's handing over to successors, then chances are you might see some changes. And you never know where, how far these changes will go. So we'll give him the benefit of doubt. But you know what, until...
• 33:02
  That listing is confirmed. We just take it as a forward-looking statement, so to speak. We have our Ghanaian brother here, Kwame. We discovered Kwame in one of the spaces, and we were so enthralled by what he was saying because we seemed to be going on.
• 33:30
  having the same ideas, where we want to get many more young people into the investing space. Yes, I know if you compare the Nigerian Stock Exchange to the Ghanaian Stock Exchange, Ghana has a lot of catching up to do, just like we have a lot of catching up to do with the Johannesburg Stock Exchange. But again, just imagine we had one unified Africa exchange.
• 34:00
  Because there are a lot of companies, there are a lot of good companies in Ghana and there are certain aspects of life where when it comes to doing business, the Ghanaians are way more advanced than us Nigerians and vice versa. I'll give you some critical examples.
• 34:25
  If you notice, we've been very big on blue and marine economy. We've been very big on solid mineral resources and we'll be very big on agriculture and livestock. So if you talk about mining, right, mining is becoming very, very critical right now in the world space generally. Everybody is talking about AI. And for AI, you need chips to power whatever.
• 34:55
  you are doing with your AI. You need chips to power your GPUs and all that stuff. And then where are these chips coming from? They are coming from rare earth metals, right? And Ghana used to be known as Gold Coast. So they are very big in mining when it comes to like gold. But we realized too that if it comes to natural resources, really, Africa is very, very rich. Democratic Republic of Congo is probably the richest mineral zone in the whole world.
• 35:24
  But, you know, that place has been pulverized. You know what I mean? Like it has been pulverized, it has been abused. And, you know, despite everything that has happened in that region, there's still so much. So our team was listening to the UBA's call. And one thing that stood out was they said we're not going to go into mining in Democratic Republic of Congo, right?
• 35:55
  And, you know, of recent, you've noticed that there's been a lot of mining activities going on. And that culminated in the establishment of the Ministry of Solid Mineral Resources. And, you know, if you go to the website, you will notice that a lot of mining licenses have been given out. And what we try to do here is give us a head start on some of the investment.
• 36:25
  that we do, okay? Because investment should be long-term. And, you know, I have a very simple analogy I give these days. If you guys know Lagos and you know the place called Banana Island, if you know how expensive that place is right now, just imagine 20 years ago you were able to, like, invest into real estate in Banana Island.
• 36:55
  Okay. And just imagine 10 years from now, what will those prices be? So people are looking at MTN today. People are looking at the Aradales today. People are looking at the Zeppelin today. Do you think in 10 years time, you will see these prices? Do you think our grandkids will ever be able to pony out enough money to say they want to buy land in Banana Island? So we need...
• 37:23
  to start sensitizing ourselves and start working. We need to start cooperating with each other and give ourselves a head start on some of these investments so that by the time we look back 10 years, 15 years later, you are retiring comfortably. Now, we were just talking about a First Bank result that was released. You can imagine our fathers who bought First Bank.
• 37:53
  uh in their civil service days you can imagine what that bank would have been doing for them all through these years you know uh i agree that the management has been very very bad and you know it's a good thing uh illuminated pointed out uh that you know the banking sector you know there's something that is not quite right with it as it is right now uh we have five very important banks and of those five banks only two have been able to
• 38:22
  dress themselves in respectively. The other three were kind of very disappointing and all that. And we just hope that things are very okay there because a situation where you do recapitalization and after that the CBN is asking for a stress test shows you that all is not well. However, we thank God for...
• 38:49
  The kind of CBN governor that we have, and we hope that things will continue to go in the right direction. We have to also consider the fact that first quarter is done, so to speak, for any results that are not out now, for companies whose year-end results for 2025 are not out.
• 39:15
  those companies, in my opinion, should not be taken seriously. And like I said, when you do your valuation for companies, always give marks, top marks to corporate governance. For any company that cannot release their 2025 result after the end of first quarter of 2026, don't take that company seriously.
• 39:39
  Just, you know, take it. No matter how good the result is, just give it like another 50% discount. That's when you know the true value of that listing. Because, I mean, like if your result is good and you do things according to the books, you shouldn't be having issues releasing your results. So for those other banks like Sterling, FCNB and other that have not released their results, well, you know, just...
• 40:07
  If you have them in your portfolio, maybe it's time to start diversifying into other areas because we've seen some wonderful performances from the industrials. Look at Wapco Cement, look at Bois Cement, look at Carp, look at Bega Paint. These are all companies that are doing very, very well. So I really don't understand why some people have like 10 banks in their portfolio.
• 40:37
  you don't need to if you have zenith and the gtb you are good enough you don't you don't need to stress that portfolio uh further so um let's be vigilant um but there's something i would i would i would say okay um i know love there's been a lot of argument as to whether that market has become overheated or there about no i think
• 41:04
  Our market was undervalued for a very long time. The undervaluation, the devaluation of our currency too, they've all contributed to why you've seen this rapid rise. So most of our equities, what they are doing basically is catching up. They're just catching up to all that 10 years of retrogression we suffered in the market.
• 41:34
  So, again, pick your equities wisely. You always have the forum to ask questions. You always have the opportunity to put heads together and see whether you are taking a proper decision with whatever you are taking. However, we are very big on looking for the next big thing. Okay? We are big on looking up, like...
• 42:08
  none of us will ask you to go and buy seplat right now uh because uh of uh the price you know except uh you have you're a billionaire if you're a billionaire the way i would advise you is different from if you're just beginning your your investment so as not to take too much time i'm going to defer to kwame kwame could you just give us an overview of the ghana
• 42:35
  economy and what's happening in their stock exchange and then we have some super heavyweight people too who are going to come on uh on the speaker later thank you and thank you thank you very much mr charles um i'm really um i need to be here this evening um so i will just um kick off with a very brief history about the um
• 43:04
  ghana stock exchange and so when it comes to and then i'll move on to what's happening currently so when it comes to um ghana our stock market is known as gsc that's the ghana stock exchange yes so it's actually started off as a private company limited in the 1989 so um fast forward to 1994 it became a public company so um we had our first um
• 43:33
  index the composite index of the ghana stock exchange um being launched in 2011 that was the first time we had our first um composite index yes and so um when you you um fast forward
• 43:51
  Ghana currently we have around 37 to 40 stocks listed on our market with about 20 of them being really active. I think there are a couple of stocks that we have on our market that are also on the Nigerian stock market, which is really quite interesting. I mean, these are some of the big, big companies as well. So over the past six months,
• 44:21
  um let me say past year um the ghana stock exchange has been um a hot talk and people are really talking about it people are now finding interest in the ghana stock um exchange um the total valuation of our market is somewhere around um 25 billion dollars which is quite um small compared to them the um ngs yes and then um i really like the ngs i think i once
• 44:48
  and came upon this i came on this space and then i really loved how you did everything i mean it was quite interesting so the we have um a valuation of around 25 billion dollars and um we are really improving so if you look at our composite index
• 45:06
  um that was last year the year 2025 um we had our our index giving a 79 increase um that was i think the second highest in the whole of the um african stock market which was quite quite interesting and lovely as well um this year so far our composite index has been up um 66 percent and i think it went down to
• 45:33
  close to um over 80 and we saw some um shunk and profit taking and bearish and run and one key thing that when you come to the ghana stock exchange we are really facing and it's a problem is um illiquidity um most of our stocks are really difficult to i mean get some to buy and sell very very difficult yes so um over the past um six months we've had three new companies listing on our market
• 46:00
  so um the first one was um first atlantic bank that was listed somewhere in december we had zen petroleum which is a local and petroleum company that was listed not long ago um and then the third one is about to be listed that is casa precum so i'll also speak a bit on that as well so um zen petroleum is actually a local and petroleum company we have in our in our market about listed about um
• 46:31
  three weeks, about three weeks ago. And then if you look at the performance of this company, it's really doing well. I think it's been up over 45% after being listed three weeks ago, which is really quite interesting. Let me also talk about the current performance. If you look at our stocks, the one giving the top performer currently is SIC. So SIC is an insurance company in Ghana.
• 47:01
  And then it is really doing well It started the year. I don't know whether you know a bit about currency, but let me say em Let me use the US dollar as the standard. Let me use it that way even though it's not going to be the right conversions But let me do it that way. So let's start the SIC started the year with I think once it is 20 pesos and it's currently trading around 60 70 pesos or so. So let's say $1
• 47:29
  1.2 dollars and currently trading at 6.7 dollars which is really quite interesting um last year that was 20 the year 2025 and the stock on our market that was stopping or leading the overall market was um clyde stone which has a tick of clyd it gave um over a thousand um 400 percent um increase which was really quite interesting i think um
• 47:59
  Last year was one of our best years when it comes to the markets, even though it's not the leading one. I think the top one, the best year in our entire market was somewhere in the 90s, where we had over 120 plus or 110 plus percent return in a year, which was really quite interesting. I think currently, if you come to Africa, our composite index is really doing well, but liquidity is still an issue when it comes to.
• 48:28
  market so let me touch on I think I came across three companies that we have in our markets that are also in your markets as well so the first one is MTN Ghana so we have MTN in our markets and then you also have MTN in your market and so currently the MTN in our market is trading somewhere 60 to 53 pesos if you convert to Naira let's see
• 48:58
  About six hundred Naira if I'm right with your conversions. So about six hundred Naira and does them empty and so the empty and in our markets used to pay I think dividend twice in a year for the first one to be the Dividend and the second one is the interim dividend. That's how they used to do it. But about I think last month or so they announced
• 49:28
  quarterly quarterly payments of dividends so they'll be paying dividend each and every quarter which most investors in Ghana where we were really happy about it and then m10 is the has the largest cup market cap when it comes to our market so it has the largest market cap and is the most liquid stock in our markets the most liquid stock and mostly has the
• 49:51
  the highest number of shares being shared being volume of shares being traded in a day and an empty initially doing well in our market it was listed and somewhere in 2018 it started off let me say 80 Ghana 80 passwords in our currency so and then it's currently around 60 to 53 PS and passes Ghana cities I mean which is really really quite interesting and initially doing well and
• 50:19
  another quite interesting news that mtn announced i think not long ago is that we are going to have um the company um the the actual telecommunication company and the fintech parts um being i mean separated so they are looking forward to do this in the next five i think in about five years time you will have this done so we'll have the telecom company and the fintech one as well so
• 50:48
  if you have um mtn shares let's say a thousand um shares of m10 currently in there when this is being done and the company is being separated automatically you'll be giving a thousand shares of um um the fintech parts as well so you have thousand for the fintech and then thousand for the telecommunication which is really um interesting i mean it's really driving investors crazy we are all happy about it and we can't wait for that so um
• 51:17
  The next stock that I think we have in our market that's also in your market is ETI. That's the Ecobank, is it Transnational Incorporated or so if I'm right with the full meaning of the name. So the ETI in our market, I think it's been down for a while. A lot of people are selling and then I mean.
• 51:42
  the it's it's even though they are delivering strong reports and then good good reports it's been um um down for a while i think company for empty and if you compare the prices of um the price of empty in our market in your in your market the difference is quite small yeah i think small difference and then but for eti we are we are really um up i think um the one in your market is um i think it's giving some
• 52:10
  Bullish and the last time I checked I stand to be corrected So when you come to our markets a lot of it's giving a very shot. I mean lots of people are selling and The stock is really dipping hard. So ATI is once that we have on our market that's also in your market The other stock that I also came across is Unilever. So Unilever that is a UNL
• 52:33
  i saw i think it's in your market we also have it in our market and then it's it's quite interesting we have a lot of stocks in both markets as well and the other one is assets bank that is assets bank i think that one too is in your market it's also in we have it in our markets as well yes so i think these are the few stocks that i came across that we have in our market that's also in your market and then um i mean
• 53:00
  um when you look at these stocks the performance of these stocks it's they are really doing well and it's quite interesting as well so um let me talk about um the casa preco ipo which has been the talk of our um in our markets when it comes to the ghana stock exchange when you come to the ghana stock market what people people are really talking about currently is the casa preco ipo so um casa preco
• 53:28
  it's actually a big company in the in the When it comes to Ghana, they deal with a lot of things They have about different 30 different products more than 30 different products in Ghana. They have
• 53:49
  soft drinks they have um alcoholic drinks and a whole lot different different kinds of them and then they are really doing well and then it's it's um it's a local company and um people are really happy because it's a local company you see anytime you have these local companies um um listed on the market a lot of people are happy because they know how these companies perform i mean
• 54:17
  go about with their um with their works and how they do their things we find it we usually find it around us yes and then we know we know how everything is done so we are really happy about it and then um they are offering um about up to um 583 million um shares that's going to be offered that is 25 percent of their entire company they are giving the public
• 54:43
  um 25 percent of their entire company and and the amount of money they are looking to raise is um 700 million ghana city let's say in dollars roughly 65 million dollars that's the amount of money they are trying to um raise and then the reason why did what they are going to do with this money is to um start um i mean expand uh one of their factories
• 55:12
  in um a place where we call idea so which is in ghana um that's what they really want to do with with that and also as look at other projects and go about it yes so um with with that being said casa preco um the the ipo started that was um um fought me and then it's going true to um first
• 55:39
  1st and June and then it will be officially listed on our market on the 17th of June. Yes, and then investors can't wait for the Casa Preco IPO because it's been the talk of the markets and then I think people are even afraid that it will be over subscribed and We won't get shares to buy because one thing in the Ghana stock market is that over the last em to let me say so yeah, that's
• 56:08
  companies we had listed on our market right after the right or during the ipo a lot of people go in for it so after being listed on the market um people find it difficult getting shares to buy and then when it comes to the ghana stock exchange we have a lot of um a lot of brokers but um the two brokers that we have apps that we can actually go on to use i i am
• 56:38
  the icy water and the black sap i think for the ngx you have a whole lot of them a lot of them and then it's really interesting and then i think it's because of um when you cut the market cap and the stocks you have on your market and the whole lot and then i mean yeah you are more than us you are really more than us the investors you have there so um we we have two main brokers that are i mean on app there are apps that you can go into and then just go about your things but for the other ones
• 57:07
  um they are they are sometimes you have to go to their website to give them a call or you go there yourself to to carry on um those your i mean your transactions so um those two um brokers apps that we have um either some of them decide to offload some of the sales they bought during the ipo other than that it will be quite difficult to to get shares to buy yes so um that's another quite interesting thing that
• 57:37
  it's happening in our markets um currently and then also um um our securities and exchange commission and the ghana stock exchange um they are they are now pushing our local companies to to get listed on the on the markets i think for the casa precon ipo that we are really happy about the talk started somewhere um june last year so it's been close to a year now that we are now having it listed on our market so now we have a lot of people um
• 58:06
  registering for their csd i think in nigeria you call it um csss or cscs i i don't know and that's the the um let me say the um i think when i say it you understand so what you would need to buy the stock yes so um if you look at the number of people registering for for that mcsd that has registered compared to
• 58:33
  um if you look at from 2025 till date you see that a lot of people have really registered for this csd just to invest in the ghana stock market which is really really um that the number is really huge the number is really huge and um i would say that it's mostly because of this same social media
• 58:55
  that we have people talking about the stock market and how educating people and i believe that with that we get um with time we get a lot of people registering for our um the csd to invest in our markets and we'll have a lot of companies being listed on our market as well so if you look at the um the number of people that are investing the ghana stock exchange based on the number of csd accounts we have
• 59:21
  And based on stats, I think it's about close to 2% of our entire population. I think we are 33 million, so close to 2% of the 33 million. That's the number of investors that we have that are actively investing in the Ghana Stock Exchange. So we are hoping to actually do better in our coming years.
• 59:49
  That's a bit of what is happening in our markets currently. Mr. Charles, if you give me the permission, I have one friend here that he's also actively talking about the Ghana stock market. He's Elijah. Whether he can also give some, maybe in two minutes, five minutes, give some brief info. For sure. Where is he? If he can raise his hand, I'll bring him up.
• 1:00:16
  Elijah, you can kindly request for the mic to be a speaker. Yeah. Thank you very much. And this is why we are calling for cooperation and integration. You understand? Basically, it's the same problem, but at least we are a little ahead, you know, when it comes to certain things. And we'll just be... I don't know what...
• 1:00:45
  your exchange is doing. I don't know what that lady, Abena Amoa, I don't know what she's doing to deepen market participation because I think a lot of people need education, especially the young ones. If you ask me, if you ask me, financial independence should be inculcated in our curriculum in schools, right? And, you know, start to teach young people how to invest and then,
• 1:01:15
  She must come together with companies and find a way to make the market more liquid. Because I know the greatest problem with the Ghanaian exchange is liquidity. And once there's enough liquidity and, you know, we can do cross-trading, yeah, you can sit in your...
• 1:01:40
  home in Ghana and be buying stocks in Nigeria and vice versa, it would help both countries. I mean, this is not just to Ghana alone, to all the West African countries, Nigeria, Kenya, South Africa, you know, this is the time we have to start something now, okay? We have to start sensitizing the public because, you see, a lot of Africans are categorized as being in poverty.
• 1:02:11
  Because they just think life is about going to school, getting a degree, getting a job, nine to five, and you'll be okay. No, nobody has ever been rich doing a nine to five. You have to start the habit of investing. And the earlier you start, the better it becomes for all of us. And the whole of the African market is not even deep enough. So let us all participate.
• 1:02:39
  Okay, let us all provide liquidity for ourselves and that way we'll be able to develop and boost the market. So maybe this is the time we need to start talking to Abena. And then she needs to start talking to companies. She needs to start coming to Nigeria to see how it's done. Because like I said, we are a little bit advanced compared to what you guys are doing in Ghana.
• 1:03:05
  You know, you guys have a lot of catching up to do. We have a lot of catching up to do with other exchanges. But the best thing that will happen to us Africans is if we all have one central exchange where we can all cross-trade.
• 1:03:24
  across the whole of africa that way you know i think it will benefit it will dip in the market there will be liquidity and other you know like when you ask if if uh if uh uh sapricon was
• 1:03:40
  Capri Sun or what name of the company was coming to Nigeria. I was looking for $65 million. You can be rest assured that it will be 10 times over subscribed. You understand? So they must find a way to attract people. They must find a way. I mean, like if you have to make the, if you have to divide the shares into smaller units so as to get more people interested, the most important thing is get people into the market first. And then once people are in the market and they are seeing what they can do for themselves.
• 1:04:08
  the interest will come and then many more people will be attracted. The chairman of the Ghana Stock Exchange from time to time should come to and start addressing young people, old people, pensioners on the importance of investing in the market. And once that sensitization is there and you have a roadmap on how you want to improve your market, give yourself a five-year roadmap, a 10-year roadmap.
• 1:04:37
  then try and execute those plans, you will see that it will be better for everybody, not just the government, but for the general population of everybody there. You have a lot of mining companies, but with your mining companies, what we have is you have junior miners coming from these advanced countries like Australia, like Canada, like America, coming to invest. So they make all the monies from those mining, which does not really...
• 1:05:07
  uh which does not really uh accrue to the ordinary man on the street and you know what you suffer is you know your your lands are polluted and you know everything is just you know uh uh vandalized so to speak and you don't see the benefit of that so i think it's time you know our various exchanges we all start working together
• 1:05:31
  uh do a lot of calls I mean like we have we have we have so many brokers in Nigeria that you know sometimes you don't even know what to do and you know you can imagine a situation where you now establish inter-broker relationship between Nigeria and Ghana first if I mean like we can start with those two countries and after that we continue to expand to other countries as the case may be but I think we're on the right
• 1:05:57
  right path. We'll have to start something. And, you know, maybe it's conversations like this that would trigger and promote a lot of things in the future. Elijah, unmute your mic and go ahead. Thank you very much, Kwame. And also thank you, Charles. Good evening, everyone. I would also like to touch on a few things that I believe because of time, Kwame didn't touch on. So basically, I'll just be talking about the economy and
• 1:06:28
  some happenings in the mining sector when it comes to the Ghana Stock Exchange. So one of the major boosters of our exchange this year, from somewhere last year up to this point, is that the economy has stabilized greatly. And inflation, which has been one factor that determines the movement of goods and price in our economy, has also been stabilizing.
• 1:06:58
  have been seeing a major reduction over the years. So that's also a factor that is contributing to the rapid growth that we are seeing in our exchange recently. So from somewhere beginning of last year to today, inflation really went up in April. So inflation at the end of March was 3.2%, and it went up to 3.4%, which is basically very small.
• 1:07:28
  Basically, that is one factor that has contributed greatly to happenings in our exchange. And then one other issue is lending rates. The lending rates also has been reduced. So the banks, more people are able to lend and also invest in their private activities, which also contributed to major incomes of...
• 1:07:52
  some of the banks that we have in our essence most of the banks this year have performed marvelously so well and some of them have um triggered dividend conversations the bank of ghana for instance is sorry not bank of ghana um ghana commercial bank which is also a major bank in ghana is also paying dividend at the end of june before the end of june
• 1:08:16
  So that is basically one factor that has helped our exchange greatly. And also, you've been talking about mining a lot of the time. So in respect to Atlantic Lithium, one company that has been listed on the Ghana Stock Exchange, a Chinese company is actually buying that company. They are buying shareholders out and then they are going to own the company. So they are willing to invest some.
• 1:08:43
  $210 million into the Ghana lithium company and also take over. And shareholders are going to enjoy some good returns on their investments since they are buying us outright. Currently, Atlantic Lithium is trading somewhere close to its Ghana cities. Yeah, I don't really know the currency conversion rates for Nigeria, so I don't want to get into that.
• 1:09:13
  Let's consider it's like some $8 and they are going to pay us above what the share is currently trading at. So that's some good news for us. Even though that company has a lot of prospects and if it continues to be on the market, a lot of us would have been willing to continue investing in that company. But unfortunately, a different company wants to invest into it and also expand. So that is also one factor. And also with broker relationship.
• 1:09:42
  um blaster group one of the brokers that we have in ghana who also have a mobile app they are also working um very strongly that they can bring the nigerian stock exchange on board so that ghanians can also invest in nigerian stocks here from ghana so that that's something you should be looking forward to
• 1:10:04
  me in particular i'm also looking forward to that because um the nigerian stock market has been so appetizing and i've been looking forward to investing in it just that the relationship is not there is very very difficult you have to use a lot of apps and it makes the process a bit cumbersome and
• 1:10:21
  I might not want to worry myself so much, but with this news, I believe that that's something we should look forward to. And then most of us can also start investing in the Nigerian Stock Exchange. Of course, we need all the exchanges, for instance, in Africa together on one platform that you can easily invest wherever you find yourself. Unfortunately, that is not happening currently. But I believe in a few years to come with some awareness that most of you are creating on your platform, of course.
• 1:10:51
  The Nigerian Stock Exchange is doing very well, but it is not at its full potential yet because most people still do not know about the exchange yet to fully invest in it. So with this awareness creation, and as we are also doing here in Ghana, in a few years to come, three, five years to come, of course, the Ghana Stock Exchange is working very hard to resolve the liquidity issue that we have here. Of course, we cannot even buy fractional shares here in Ghana.
• 1:11:19
  Unlike the US and other stock exchanges that you can buy fractional shares here, you are forced to buy a full share. Even that one is very, very difficult to buy. So that is something that I believe that in a few years to come, we'll be able to overcome. So thank you so much for the opportunity. And I believe that...
• 1:11:40
  Some few years to come, having this conversation, most people will be attesting to how good it is to invest in the Ghana Stock Exchange because there will be platforms that will make this thing possible. Ghana, unfortunately, we don't have many of that yet. You only have two. But I think three days ago, I heard of one particular company who is also bringing up a mobile app that they are coming to serve as a broker here in Ghana as well. So I believe that as the years go by and...
• 1:12:08
  These kind of conversations are triggered very often. We'll be able to do all that we have to do within ourselves from neighboring countries. So thank you once again for the opportunity. And thank you, Kwame, as well. I will continue listening. And if I have anything along the line, I will be happy to share. Thank you. Thank you very much, Elijah. And, you know, like I said.
• 1:12:34
  this is how it's conversations like this that will drive whatever is going to happen uh i'm sure we have some uh some brokers uh on this space and uh if uh if you are thinking then uh this is this is uh an opportunity that is opening up right now i read about setting brokers second stacks uh free invest
• 1:13:01
  uh united capital saying they can do those transactions but you know i'm just looking at it uh for for for requirements these days uh you need a a bank verification number uh to to be able to register like a bank account if you are in nigeria i don't know what uh foreigners would need for that kind of uh for that number but you know uh it's something that we've started
• 1:13:31
  I'll find out how foreign portfolio investors do it. Like I said, we need to do more things together. The only way we'll have enough liquidity is getting everybody involved. I'm sure if we have a lot, if we have Nigerians in the Ghanaian market, it will provide a lot more liquidity. Well, I think first and foremost, there's depth of information in the market. You know, people...
• 1:14:00
  like you rightly said just two percent of the population are invested in in the stock market if you compare that to those invested in gambling you'll find out that you know those people running the exchange they have a lot of work to do they have a lot of education to do they have a lot of sensitization to do and we are going to start this conversation like this uh the
• 1:14:26
  Of all the exchanges in Africa right now, the one that has really caught my attention is the Kenya Stock Exchange, NSE, the Nairobi Stock Exchange, because the chairman, the president, is very, very active on social media. He comes, holds spaces, is telling, informing citizens of how he wants to increase...
• 1:14:52
  This year, he wants to get 9 million people active investors, 9 million active investors in the exchange. He's talked about fractional shares already. They're already working on it and all that, you know. So I think now everybody's interested in the Dagote Refinery IPO. So you can imagine if the whole of Africa could take a part in that IPO, you know.
• 1:15:19
  It's an African thing. I'm not saying international investors should not come, but at least let it trickle down to us first. And then we can use that as our success stories. We don't want a situation where at the end of the day, international investors will come and then they'll be the one benefiting to the detriment of local investors. So you can imagine if we had an exchange.
• 1:15:47
  a universal exchange, an African exchange, where everybody could just come on the platform and partake in that IPO. That will go a long way for Africa. And like I said, it's just a matter of time. I don't think we need all these unnecessary division and partitions in Africa. Yeah, you need visa to go to this and you need visa to go. We have come, if we want to really be reckoned with as a force in the world.
• 1:16:15
  The whole of Africa has to come together as one. And the reasons of it, we are one people. You know, we just allow people to divide us. If you are outside Africa and you see a fellow African, you end up always greeting yourselves because you just think he's your brother or she's your sister. And that's the kind of unity we need to be able to navigate this market. And, you know, you guys are always welcome to this platform.
• 1:16:45
  We are going to do a lot more things together. Get those brokers in Ghana to start talking to brokers in Nigeria and they start thinking of collaborations, start thinking of how they can trade both markets. This is how it starts, you know, because a lot of times, you know, these guys, some of these brokers, they are so old fashioned, they are so old school that they don't know that, you know, if you're able to create something like that.
• 1:17:10
  at the end of the day, to benefit them. Instead of just waiting to buy and sell, you can create an international platform. And for whatever fee you get for doing those transactions, you find out you don't need your buy and sell every day to make life going for you. So thank you very much, guys. And like I said, this is an ongoing conversation, and you'll always be here. We have a very distinguished guest in our midst today. His name is Tokwe Adu. So if you can unmute your mic, could you...
• 1:17:40
  Come and tell us what you've seen of the market so far and what you're expecting for the remaining part of the year. Thank you. Good evening, Chas. Good evening, everyone. I hope you can hear me. Loud and clear. Loud and clear. Oh, great. Okay. Good evening, everyone. I've been listening and I must say that I'm quite even impressed with...
• 1:18:07
  you know the diverse you know views and opinions from other african uh other african brothers you know um you know i will go straight to your question but it's an important conversation that um you guys started tonight on this platform which is you know a conversation that i expect to be happening at african union level because
• 1:18:34
  If they're not thinking of how to integrate business, you know, economy across, you know, African countries, I really don't even, a lot of countries are going to, you know, struggle to catch up or develop with, you know, other developing African countries faster than the other ones, you know. This is what the EU stands for. And that is what they've been able to achieve over the years that we'll still struggle with here in Africa, you know.
• 1:19:04
  So it's a good one. I'm glad this conversation is starting. You know, this opinion will eventually probably get to the appropriate quarters and might shape their decision, you know, because I don't see any reason why a lot of our exchanges are not even interconnected. You know, I know the West African Association Stock Exchange exists and things like that, but I really don't know what kind of conversation they have, you know, at their level. I expect this.
• 1:19:33
  Some of these have even been implemented, you know, so I hope the appropriate, the right people in the position of authority are listening and these conversations are, you know, elevated further. On the Nigerian Stock Exchange, we've seen a lot of good results over, you know, over the month, since the beginning of the month and, you know, all through April.
• 1:20:02
  There's been a question that people, you know, ask, and I get that a lot in the DM, you know, like people are a little worried, okay, is the market right now, does this still offer more opportunities? Do I hold my money? You know, things like that. I think, like you mentioned earlier, Charles, I mean, if you look at the history of the stock exchange, especially Nigerian stock exchange, in the last...
• 1:20:30
  probably 10 years, you know, the market was, you know, was really suppressed for a very long time. You know, the market even, you know, became illiquid at some point compared to what we're seeing now. And, you know, so many investors left, most especially the foreign, you know, guys, because of perceived overvalued NARA at the time. And that really created a love gap, you know. But with the...
• 1:20:59
  set of policies in fact i think part of your conversation actually aligned with my thoughts because i've been you know quite a bit off to here for a while i guess i have a lot going on for me and you know thinking so many things to do even though i have a note like before i tweet i usually have probably when i remember you know maybe something important i can help the community of people at large i pen down my thoughts so um
• 1:21:28
  Part of the question I get sometimes, how do you pick stores? How do you do some of the things you do? You see, I'm glad that you guys are talking about, the last speaker was talking about the Ghanaian economy. And then you also probably spoke about part of Nigerian economy. That's Charles. You see, for you to be able to, one, properly invest in the market, you need to actually understand some basic things.
• 1:21:57
  policy directions and things like that especially in the Nigerian economy because policies actually shape the Nigerian stock exchange eventually and these are part of my thoughts earlier even though I didn't tweet but I wrote those things down that I personally people want to understand how to win in the market I pay more attention to the Nigerian economy to the macroeconomic indicators when the macroeconomic indicators actually
• 1:22:27
  turns positive, then you should expect the market to turn green. And when we're having negative, you can go and observe, you know, all through, you know, the history of the Nigerian Stock Exchange, how it relates to the Nigerian economy, because the market itself is a subset of the economy. And the Nigerian Stock Exchange is one of the barometers to measure, you know, the Nigerian economy, even though it's a lagging indicator. But when you understand that...
• 1:22:56
  the market i mean the economy at large is actually especially at the macro level you know it's so unfortunate that especially in the type of um uh economy and the market we have in nigeria you know so many things we read about they really don't play out the way it's or even some of the policies don't even you know have the right effect you know maybe trickle down to the micro level but then the indicators are changing right up but you see
• 1:23:26
  Which is why we also have to think and say at some point we need to be part of the people that are going to benefit. If you can't benefit at the micro level, which is where most Nigerians are, if you look at the data, one of the easiest ways to actually participate is by investing in the stock market. If you don't invest in the stock market, like Charles mentioned, somebody like me, I don't know what I'll be.
• 1:23:56
  Or probably I'll still be so active in so many things, even though I set up a couple of companies. But I was telling myself earlier today or yesterday that I've been successful in IT. I've done different things in IT. IT projects, I've handled so many things. I've made so much money from IT. I've made so much money from projects. And I got into real estate in 2022. But you see, the truth of it is...
• 1:24:23
  I had to tell myself today that I need to give more attention to where I make most of the money. The money I've made in the stock market, I've never made it anywhere else. So I was even telling myself this morning that if I pay more attention and then I invest more, which might even make me relax or slow down in some other activities that I do, like probably IT or real estate, because in 2022,
• 1:24:53
  I took, I'm still coming back to your question, but maybe people can learn from this. I'd gotten, okay, in fact, the first major real estate landed property I bought, the money came from stock. How? I'd invested, I mean, of course, I always stay invested in the market, no matter how bad it is, because I know that one day, one person will bring the right set of policies that would trigger the market in a positive direction. So when Emile Philly came in,
• 1:25:25
  it was still about this currency issue. I remember Standard Bank and one of the foreign bank, other city bank, confronted him with the question that, okay, you're telling investors to come into Nigeria, but investors actually want to even come. But we don't feel the exchange rate is right because if you look at what the market, the official rate was then compared to the, you know, parallel market, you know, the margin.
• 1:25:55
  was quite wide and a lot of funds were trapped in the system. So the market was really at its low. Now, Emifili came in and discovered this as a problem, then created the import and export window. That policy, to let you know how positive policy without even government injecting funds into the system can change things rapidly. Within four months, we had companies creating
• 1:26:25
  High, I mean, 15 months, 20 something months high upon. I mean, the market created so much money around the time. Why? I mean, just simply because of one policy, the import and export window that actually tried to bring a buyer, a legitimate buyer of FX and then legitimate seller.
• 1:26:47
  the platform actually yielded result and then affected the market positively so i made so much money around that you know policy the moment that policy kicked in i already understood the implication of the policy in in the economy and then eventually is going to affect the market like what charles and the other guy from ghana was talking about earlier if you have a very vibrant economy the your market will reflect it but you know nigeria is actually a complex place so
• 1:27:14
  I got a property, a landed property, and I had little or no, I had no knowledge of real estate. I'd bought materials, like videos, I'd watched different things, people who venture into real estate, but practically I never tried it. And to cut the story short, I signed a JV. The guy, I mean, I signed a JV with a company to actually do the development, but they failed.
• 1:27:42
  i think over two years after run so i cancelled the contract and then i was like what is the big deal in this thing that i can't even do so i was okay what do i need of course uh being a project person you know for a very long time as well and um well exposed to different things so i managed my first real estate project and it was successful how i took a loan from the bank i was in 2022 i took a construction mortgage loan from one of the
• 1:28:12
  And I liquidated about 60% of my equity. You see, when Charles emphasized that people should invest, you invest for so many reasons, not even when you grow old. You invest because there are some things that you possibly want to achieve in your life. And the only thing that would make you achieve those endeavors, it's when you are able to generate or produce at least 60, 50% of capital into.
• 1:28:42
  you know, search and devo. And one of the ways to raise capital is if you've been so consistent, probably investing in good companies over the time. And if you have a project or something about your life, you can take, that's what investment is meant for. You can take it, explore better opportunities. You know, you're always, you know, around the market and then you return, which is what I did. So I, once again, what gave me confidence? I knew that, okay, we had a president I was leaving. Whoever comes in between the two guys,
• 1:29:12
  Everybody was talking about fixing the exchange rate, you know, fixing the arbitrage, you know, and all the problems, you know, we had at the time. And those two single policies actually changed things. But this is what I've been telling people. You see, you're looking at the Nigerian stock exchange that this market has grown now and people are scared with the market crash and things like that. Go and look at where the Naira was.
• 1:29:42
  probably three years ago, and look at the PE ratios of a lot of the companies at the time, right? Now, check where Naira is right now. Check where a lot of the company is right now. Look at the percentage of devaluation between 2023 and today. And then look at the PE ratio of the company's average, you know, average per year, probably for industry or companies you're interested in.
• 1:30:16
  at the time that look at the exchange rate now 2026 look at where the market is the osha index look at where the average period some of those industries are right now and then look at some um you know design company in that um industry or sector you know that has been consistent or you know over over time even though we had the very um depressed economy at some point so if you look at it
• 1:30:45
  Then you can even make your own opinion and then decide that, okay, truly, this market has actually appreciated. But by the time you break it down, you realize that because the Naira, you know, was devalued, you know, I think the Naira lost almost over 200% of its value. Okay, let's say 100, if we use the streets rate, I think it was around 650 at one point before the government took over.
• 1:31:16
  now we i think we have now around you know oscillating around one four one three something but it's still 100 so if you look at it and then check the p ratio and then look at what these companies have achieved as well a lot of these good companies look at what their revenue was three years ago and then look at what their revenue is today and then plug these numbers you know in dollars and then look at the p ratio like i said so you discover that
• 1:31:44
  Some of these companies have actually done exceptionally well. Either currency was devalued or not. And then the next question you ask yourself is, if you look at the top 10 or top 20 in terms of valuation on the Nigerian Stock Exchange, look at the average PE ratio of all the companies combined together and then look at them individually. So if you look at a lot of those companies in that top 20, you will discover that
• 1:32:15
  They are still, you know, even though some are actually trading, you know, closer to the valuation, I mean, to the fair value zone, right? You would discover that a lot of these companies are still, you know, trading, some trading way below their fair value. So if you want to be smarter in this market right now, rather than generalizing the markets and then listening to what...
• 1:32:45
  the headline says like oh nigerian stock exchange has really rallied so much we've not seen it before so many things you know fine record but then the question you are still going to ask yourself is by the time you look at it deeply some of these prices i mean the i mean the valuation of this company does this now does it still justify the price at this level if it does then to me that's a buy it's simple
• 1:33:15
  I don't just want to be mentioning companies right here. I mean, some companies actually, you know, give us a good result. And if you look at it, you know, and then estimate what they're likely to report in subsequent quarters, you would figure out that entering some of those companies right now, and then they produce stellar performance in Q2, Q3, Q4 again, like what they did in Q1, some still have like 60, 70% upside. That's the fact.
• 1:33:44
  You know, I usually advise people that I personally, I mean, probably one of my investment philosophy, I do not, people I actually talk to, like try to mentor, I try to advise. I tell you that the last thing you should be looking at when investing is actually the share price of the equity because it's going to confuse you. If you look at a share price and then you feel that, oh my goodness, this thing is high up there.
• 1:34:14
  Let me go and look for something else. You will miss the hidden opportunity in that company. So I'd advise people to pay more attention to valuation rather than looking at company's share price. If you were looking at CEPLAT at probably 3,000, you'll be scared. You won't be able to go in. If you're looking at it at 4,000, a couple of people here on this Twitter, you know, I mean, talk the ball.
• 1:34:44
  surplus a couple of times i think even charles i can't remember or someone else even brought the uk um data i was trying to compare i was like is there any um is there something people are not seeing here that over time the nigerian price will actually re-rate to a fair price that is actually being traded and the the same company is being traded for on the london stock exchange
• 1:35:14
  So by the time the company started re-rating, I was not surprised because I knew that because that person converted the share price to Naira and the gap was a little bit wide. And I think it was Charles when he was like, if this thing is trading at probably four pounds, I can't remember now that, I mean, or four pence or something, that at least it should be trading close to that because we now have a stable exchange rate to an extent.
• 1:35:43
  So I personally was not surprised by the time I saw Seplat at 8,000 or 9,000. But then, as an average investor, if you were looking at the share price, you would miss out on that opportunity. When this person dropped this report, that company was trading below 5,000, clearly. So I would encourage us not to get distracted, like I said, by the news or people saying,
• 1:36:13
  I think you should look at these individual companies and look at what they are doing individually. That would give you a better understanding of where you are as you re-evaluate or re-adjust your portfolio. And again, I've tweeted about it. In fact, the people who speak with me closely know this. You see, what we saw in the banking sector,
• 1:36:42
  It's what we have seen several times or a couple of times in the banking sector industry of that sector in Nigeria. You know, when there's a change in the person in charge of the central bank, everybody has their ideology, what they feel that is ideal and what is expected of a central bank and what is expected of the leadership.
• 1:37:13
  I remember Soludo, he came with his own style, fantastic professor, recapitalized the market. I think then banks were doing less than 10 billion a day or about. And Soludo increased it to 25 billion. A lot of banks, you know, some met, some raised capital, you know, some didn't survive it. And then we had another person in Sanusi. Sanusi came.
• 1:37:40
  As a chief risk officer, experienced chief risk officer, I mean, in First Bank, I guess at some point, or UBA. And then, you know, EDA in, you know, First Bank. And then later, you know, the central bank governor. And we saw what he did in trying to clean the sector as well. Like, okay, it started to drive banks to be more transparent, to report, you know.
• 1:38:09
  non-performing loans and i mean he was the one that started all of these things you see nigeria has if you understand what has happened in this market that would enable you as an individual investor to be able to structure your portfolio very well you need to understand the market i usually tell people to understand the market where they are playing if you're going to play heavy in the market have a deep knowledge and understanding of that market you see i usually tell people that
• 1:38:38
  What you saw in the banking sector, they will continue to improve though, but you see, in 2020, I mean, that was when Sanusi came in, you know, people blamed partly for the 2008 crash, people blamed Soludo. Soludo became friendly with the MDs and then left his, forgot about his regulatory role and allowed the banks to get away with a lot of things. And then we had Sanusi.
• 1:39:08
  you know came with his own style and around that time the bank actually suffered a lot in terms of uh loan loss you know loans being written off and and and what have you and then the central bank pumped 520 billion to you know recapitalize some of the banks in order to avoid the economy collapsing and now we had a may failure
• 1:39:36
  The only significant thing that I thought he did was the import and export window, the eye window policy. And then we have the current man we have now, Cardoso. I don't want to rate anybody, but Cardoso has been, personally to me, this is my opinion, is the best CBN governor so far. Why? These guys restored confidence in this sector.
• 1:40:06
  And without any, you know, you know, favor to a particular bank or whatever it is, the man has been able to deal with, I mean, I have friends in Central Bank, two personal friends that are as high as, you know, assistant directors, you know, some, they're quite knowledgeable. They've, you know, cursed some of these government agencies. They've worked in different, you know.
• 1:40:34
  from insurance to you know to the bank so they're well experienced and they talk about this guy that this guy is trying to restore central bank to the way it should be the central bank should be independent of the economy and the central bank should not bow to the pressure in fact of the political class i mean what happened what we saw with uba will tell you that this is a no-nonsense central bank governor
• 1:41:04
  Because we all know or think that the chairman is very close to this government and is a personal friend to the president. So to me, that's a positive signal from that quarter. So we can see his hand in some of the reports we're seeing in the banking sector. I mean, First Bank reported 700 billion earlier now to 826.
• 1:41:35
  The 826, look at their retained earnings. The retained earnings, I think I put something out briefly, was debited. There's something called regulatory risk reserve, you know. So the 826 billion was debited from the equity, under equity section and statement of financial position of Feds Bank. That 826 was removed from their retained earnings.
• 1:42:06
  and transferred to the regulatory um uh risk reserve what that means is okay this is still the bank's money but the central bank is blocking that away from their retainers until probably they they are able to probably recover some of this money back or whatever it is and then the money goes back from the regulatory risk reserve back to your earnings you know we're seeing a very strong central bank governor that it's not taking any
• 1:42:36
  thing for granted and it's protecting investors confidence in the market because when you see you know solid regulatory you know people or i mean from the government he sends positive positive signal to the investing community which is why to me i still even feel some banks ordinarily their share price would have even fallen you know below what we're seeing now but because there is confidence in the system
• 1:43:07
  And looking at what we have from where we are now going forward, you know, people believe that for some bank that they've had their worst in the past, like First Bank, and then UBA claimed that as well. But I think I can speak a little more of First Bank. So First Bank, it's telling people that...
• 1:43:35
  uh we've had the worst and then from here we're starting on a clean slate but you know this is a statement we usually hear from this leadership of some of this bank uh most especially fence bank every year they come out tell us that okay um we're exiting this and then give this bank another 12 for um 12 um 24 months
• 1:44:00
  you're seeing another huge loan loss you know being written off and things like that you know so personally that is why i exited first bank years ago i mean yeah i had a million units of this bank at some point i bought at 18 it dropped way back it dropped to i think 11 i exited it dropped to three i bought i mean this bank has gone through different faces and for someone like me i like
• 1:44:25
  you know value a lot i want to get value on my money so i am not attached to any company if a company does not you know meet my goals as an investor i quietly leave the company if i have a view that only three companies are good enough for me i put all my strength in those three companies you know there's no point to waiting till eternity imagine people who invested 20 million around gt bank
• 1:44:54
  like eight years ago or seven years ago or ten years ago and imagine the same 20 million in first bank just imagine the other guard must have the the first guy in gt bank would have recouped its initial capital by now and then look at the um capital appreciation you know so sometimes the decision we make in this market really matter you know uh especially if you're a long-term person
• 1:45:24
  I remember telling somebody about GT Bank, someone I was trying to mentor last year. And he kept, I mean, she kept thinking, oh my goodness, the bank, it was 85. And he's saying it's too high. It's too high. I'm like, you're not, you're making your decision to buy into a company based on share price alone. Like I think Charles mentioned earlier. You're not looking at the other benefits that this bank offer.
• 1:45:56
  This bank has, if not the lowest, probably one of the lowest cost-to-income ratio. This bank has lean operation. In fact, I was in a class in 2014 in the U.S. I think I was the only person that came from Nigeria for that program. I met another Nigerian. It was a project management program organized by the institute in the U.S.
• 1:46:26
  GT Bank was being cited as maybe even the one indigenous company in Nigeria that has implemented lean operation. If you're familiar with Lean Six Sigma and things like that. I was so proud of GT. I mean, even though I know that possibly maybe there are other banks or non-banking companies that had executed that at the time.
• 1:46:58
  in order to generate better results. So if you look at what that bank has achieved, not in terms of the size, but in terms of the available resources and capital and how the company carefully deploys capital to protect shareholders' equity, how the organization has prioritized shareholders over time. So you will discover that
• 1:47:28
  you not only look at share price, you also look at other value that this bank is giving the shareholders. And that is why you would see some companies on the estate trading at a premium compared to their peers. When they reported forbearance, you saw what happened. You saw the other banks forbearance. I mean, some are still struggling with it today. So sometimes if you're looking at organizations, I think,
• 1:47:57
  You know, corporate governance is something that you shouldn't joke with. I personally, when I see one or two things I'm not comfortable in a company, I exit. Especially from corporate governance issue. I'll share something crazy today. I do not have CEPLAT. Even though CEPLAT has, you know, done so well. What happened? CEPLAT had a corporate governance issue as far back as 2015. And corporate governance issue in Nigeria at that time was...
• 1:48:28
  I mean, virtually, let's say, probably 30, 20, let me say 20% of the companies on the exchange, there's always one story or the other. Corporate governance issue. And when my mentor actually advised me, oh, you should buy CEPLAT. What's the MD of my security? I can't remember. One of them said, you don't have CEPLAT. I said, but this company has this corporate governance issue. I was like, they will resolve it now. I mean, we learn every day, though.
• 1:48:58
  I think it was the CFO, I can't remember. Eventually, the person was removed. They reorganized the company and look at where the company is today, you know. So, but at the time, people who knew that, okay, this was going to go away, it was a temporary problem, took advantage. I think that this issue dropped surplus shares from about 650 or thereabout to below 300 or so. I mean, everybody, you know. So, why am I saying this?
• 1:49:27
  Corporate governance is actually a very serious thing that we, as investors, you know, I don't know about traders, it's not something we should take lightly. Another thing is companies taking people's money from public offers and then they will fail on the day they promise they're going to probably credit or, I mean, there are some organizations that would give a bonus and then they won't credit the bonus issue, you know, even.
• 1:49:58
  probably after four or five months. I think we should be wary of such and reward the people that have been able to build solid reputation because there's a price you pay for all of these, you know, values these companies are able to create. So I would yield the floor to Charles at this point. Before I go, or before, let me say this. The market is still very, you know, it's still decent. There are still decent opportunities, but you just need to look, you know.
• 1:50:27
  in what look at some companies you know i really i think people should do their research but companies like ucap you you know uac that a lot of companies with fantastic reports you know tip i mean a lot has been said about this company a lot expected of them uh you know the potential in the industry they are
• 1:50:54
  a lot of uh i think probably less competition right now and you know taking the leadership in that area i mean there are a lot of companies that you just need to take your time to look at some of these company and then believe in yourself have your self-conviction and don't run with somebody as um idea or ideology which is why uh my tweets are more educational you know you should
• 1:51:21
  Most people read my tweet, what I get as feedback is, oh, this enables them to probe further, you know, to ask themselves, you know, deeper and, you know, further questions, you know, about their decision-making process, you know. So I would also, you know, encourage everybody to do the same thing so that, you know, we can all win eventually very well, you know, in the market. So Charles, over to you. Thank you very much, Tokbe. Always very, very...
• 1:51:50
  a lightning to to to have you and for anyone who comes here and is thinking uh takwa is going to ask you go and buy this go and buy no he he stimulates your intelligence he wants you to to know how to do it so that you don't even have to ask him he wants you to sometimes point him in the direction of something you think is grossly undervalued in the market and 12 you can rob your
• 1:52:19
  minds together and then yeah that's what we encourage here you understand uh like i said uh when i'm when we are really in very good spirit we can say okay based on on our studies we've done on this particular equity or company we think it's a good one to go into uh we've been looking at the market and you know like uh we basically sound like broken records now
• 1:52:47
  We knew this was going to happen. We knew how this year was going to pile out. We started the year with the end of year space we had for last year that ran for like two days, you know, telling people where to look at and all that stuff. The banking results are out now. Like I said, if there's any...
• 1:53:07
  uh banking result that has not been released yet uh just discount that result no matter how beautiful it might look when it comes out i will take it with a pinch of salt so there's going to be rotation and again we know the insurance capitalization is coming up so do what you want with that information go and do your research i've told you a lot of big boys in the in the banking
• 1:53:32
  the sector in the oil and gas they are they are pivoting towards the insurance space uh there was one other insurance company there's an insurance company name regard in ghana uh it's just that in nigeria there are two separate entities uh there's name insurance and there's regency alliance insurance but in in ghana it is name regency you know and based on that we're thinking okay
• 1:54:02
  Maybe they might be tempted to do another kind of merger and acquisition again, but don't quote me. Don't quote me. So rotation is going to take place. We have a lot of catalysts that will keep the market moving. After the insurance stuff happens, the Dangote listing will come up and there are a lot more listings that is coming up in the...
• 1:54:28
  in this space from oil and gas and yeah there are a lot of interesting things that are still there you know we've looked at the average p of the nigerian market compared to its african pier it hasn't gotten to where it should be yet the results these companies have been turning out are superlative some of them really superlative results which shows you that the price you are seeing is still grossly undervalued compared to what the company is
• 1:54:58
  uh turning out so again it's your decision if you think the market is overheated if you've not been listening to everything that talkway has said about how for a very long time we were we were we were stagnant for for a very long time we had policies that did not favor the market and now we have uh some some some square pegs in square holes and some round pegs in round holes in the government who are actually doing very well with the policies they are
• 1:55:28
  uh making for government if you have not listened to that and know which sectors to look at and how to navigate that uh then you know maybe you should take time to go and listen to these spaces over and over and over again and maybe the understanding will come and if you still don't get the understanding there's nothing wrong in asking somebody who can help to break it down for you i see i think i'm going to come to you you know yeah
• 1:55:54
  you are one of the hosts here and if you notice we are just giving uh opportunity opportunities to a lot of uh our guests today you know so i'm seeing some new people for the first time so i'm going to ask atk to unmute your mic and uh tell us what you have to say okay um good evening everyone um i've been here for the past one hour so i've been listening to the past because
• 1:56:27
  you know um i'm a newbie you know i just i have to catch what uh you know um is related to me you know because i'm i'm new in the investment market so um i'm just starting i usually you know get my insights from social media uh which which um i had some investors saying it's not good to you know um
• 1:56:59
  pick up some tips and advices, you know, from social media. But since, like, I can't, you know, I don't know how to, you know, calculate all those principles of finances that, you know, I've seen people doing. So, I just try to, you know, do my research and, you know, I don't usually follow the crowd. I follow
• 1:57:31
  um the people that i know you know they are reputable and you know and they can be a bit trusted so i try to um follow them and take you know some knowledge and try to adopt what i have so um the ngx in nigeria you know many people are not aware you know the awareness is very low so
• 1:58:02
  especially the youth, more people partake on other investments, not investment, like betting and other rough, rough activities. So the awareness is really, really poor and down. But the SGX right now, the Nigerian exchange market, I think it's really booming and
• 1:58:33
  Many young people are trying to position themselves for what is coming on. So that's my take. Thank you. Thank you. Thank you very much, Farouk. Thank you. And endeavor to follow. I heard you say you're a newbie. So just follow the handles on Green Ticker.
• 1:58:58
  they should be able to direct you as to how to navigate your investment and you know like you know like nobody knows it or when it comes to investment right uh sometimes we still ask ourselves questions you understand uh just to be able to clear any kind of doubt that we have and you know your investment philosophy is not the same with the other person's investment philosophy so if you say
• 1:59:26
  you follow some trusted people. Even those trusted people that you follow, sometimes too, they can go into a stock and because they know when a stock is overvalued, they know when to sell. If you follow them, they might tell you go and buy, but when they are selling, when it becomes overvalued, you might not know. So our main aim here is for you to be able to do things for yourself instead of having to depend on people. We actually like a situation where...
• 1:59:56
  you know, somebody will come and say, hey, can we look at this? Because I've been looking at this based on my findings. This is what I found. This is what I found. This is what I found. Is there any reason why this is undervalued? Is there any reason why there's no attention being given to this talk? Those are the kind of conversations we like to have here. And like I said, if you are new, follow all the handles on Gritika.
• 2:00:21
  tales follow talkwear follow mudiaga follow senku there are a lot of good handles here and you know follow the telegram group and once you're in the telegram group if a group if you have any problem we'll try as much as possible to see if we can resolve it for you so thank you uh is it is on mute your mic and go ahead okay thank you very much good evening everyone uh
• 2:00:51
  I've been following the space and I think I'm also a newbie. From last year, I started putting interest in the NGX. So I did some studies. I followed some of the notable accounts that are here.
• 2:01:21
  also so i i did a lot of uh research on my own as well using uh chat gpt asking questions about uh the stock markets and how things are done so and then uh as the beginning of this year and then i decided to uh start investing so i think i did uh i started february i started february and then uh
• 2:01:51
  i've been i started investing since february and uh good enough i've had uh like about uh 20 my portfolio has grown by 28 so um i wanted to i actually came to ask a particular question with respect to an observation i had on one of my stock which is nascon
• 2:02:20
  So I noticed a reduction in my stock in the units. So about 400 units plus reduction. So and then I sent, I traded Bamboo actually. So I wrote Bamboo on an email. So and then I think two weeks ago, I think. So but up till now, I've not got any feedback.
• 2:02:49
  from bamboo. So I want to ask, is there any other way, faster way that I can get answers to why my stock, why I had a reduction in a stock? So whenever I have these kind of issues, what should I do? How can I resolve these kind of issues quickly? Thank you. Okay. Do you have a CSCS online account? Not yet. Okay. So I advise everyone here,
• 2:03:20
  to have a CSCS online account. And if CSCS, if they are here, this is something I have proposed to them. As a matter of fact, they should make it compulsory for all investors to have a CSCS online account. And in compensation for that, they should take over crediting of dividend and bonuses.
• 2:03:51
  from registrars because they are the central registrars of all registrars. They have all the information they need. They have all the technology to credit people's account as at when due, be it money, be it bonus. So if anybody from CSCS is here, go to the National Assembly, go and present your reading.
• 2:04:20
  tell them you want to take over uh uh paying of a dividend and uh crediting of bonus just like uh mentioned just now uh we see our garlic ghanian brothers came here and said uh the uh the the the ipo we end on the 1st of june and on the 17th of june the
• 2:04:43
  the shares will be credited. We've never really had it that smoothly in Nigeria. We have a situation where we have to wait four, five, six months before our shares are credited. And this is because registrars are playing games and all that stuff. Registrars are fixing people's money and then they ask you to come back after like six months and all that stuff. Registrars are putting people's money in government securities to generate more revenue for them and all that.
• 2:05:09
  Let CSCS Nigeria take over. We have over 190 billion on claim dividend from Nigerians. And I think we can stop that. We have a solution to it. It's not really a problem. But status quo, people who benefit from practices like this are the ones who have made it difficult for that problem to be solved. Because like I said, CSCS already has the solution to that. They credit you your money. If you do direct cash.
• 2:05:39
  uh crediting once you sell your shares they can credit any bank in nigeria your shares once you sell it should be the same thing with crediting people's dividend when it's due they have the they know the time you bought they know the time you qualified all that information cscs has uh they should take mantle of that responsibility for providing that get everyone on the uh
• 2:06:06
  who is investing in Nigeria to have a CSCS online account and that pays you for everything that you do. If I'm guaranteed that I'll be paying my dividend and I'll be giving my bonus as at when due, I will pay the 7,000 to 10,000 as the case may be yearly and it's nothing. And that's more money to the coffers of CSCS and people will be happy. They know that when they are investing, they will get their dividend. So if you don't have a CSCS online account,
• 2:06:33
  What I would advise you, write that letter again, but when you write the letter, copy CERC Nigeria. And if there's anybody from Bamboo who is listening to this space, maybe you can go to this guy's DM and see if you can sort it out, unless you want CERC Nigeria to start their problems with you. I don't think you want CERC Nigeria to be investigating that. If you sold these shares without his permission, was there ever a time you had a statement?
• 2:07:01
  uh saying you had those 400 shares did you ever have any statement stating you had those 400 shares yes i when i bought those shares i get um a lot from uh what's it called i get steady alerts from uh css every every time my transaction uh was called goes through whether i sell or i buy okay so for this number of shares i had them in fact they were on my portfolio
• 2:07:32
  until I think I did a transaction. I sold 1,000 shares from my... And then my balance was then not what I expected to have after selling some part of my shares. So when I looked at it, about 400 plus was reduced, was missing. And then even from my statements... Did they give you the money for the 400 shares?
• 2:08:01
  No, they didn't give me the money for the 400 shares. Okay, so let's not take too much time because there are a lot of people waiting. Write that letter again and copy SecNigeria. Okay? Copy SecNigeria. Just Google the email address of SecNigeria and it will come up. When you write the letter, you copy them. Okay? Okay, that's good. Thank you very much. No problem. Faruwa, go ahead. Faruwa, unmute your mic and go ahead.
• 2:08:39
  good evening everybody good evening yeah my name is francis actually i i actually wanted to come into investment for a very long time but i've been let me say afraid because of uh experiences shared by my parents when they put on shares in the past and they've not been able to see anything but looking deeply into the future i also know that i have to start building something so
• 2:09:11
  Early this year, I came into Stalker NGS and then I'm just experimenting. I've not actually dived deep into it. I started February and the recent dip that occurred in the banking system, Yubi and all the rest, actually brought down the little thing I had. But I'm still hopeful that it's going to grow.
• 2:09:40
  so the question i want to ask is this how do you manage drop in your uh percent there are a lot of percentages in whatever you have and how do you go through that as a new so that you not be discouraged thank you thank you very much the first thing you have to ask yourself is why are you buying what what informed you to buy that particular
• 2:10:14
  equity or company. And truth of the matter is, you are just saying you started investing in February. Stocks do not go up forever. Some of us have been investing in this market for over 10 years now. So some of us for over 15 years. So like these stocks do not go up forever. And if you are buying a fundamentally sound stock,
• 2:10:42
  and there's a dip in the stock then it's a buying opportunity it's an opportunity for you to buy more right but the thing is before you do that buying before you start buying initially what informed you how long are you willing to hold this company because if i'm if i buy a company like uac and uac is giving me his revenues are going up every year by
• 2:11:12
  20%, any per share going up every year by 20%, profit going up every year by 20%, I will continue to hold that company. And anytime it dips, you know, stocks can dip. You know, there could be maybe one quarter of problems. There could be a black swan event like COVID, like...
• 2:11:40
  instability in government or anything like that, they go down. They are not going to go forever. And that's why when you buy, you give yourself a projection. You look at how many years, how long are you ready to hold this stock? Okay, it's gone down now. What do you think the price will be in like another two years, another three years, another four years before you bought?
• 2:12:08
  Did you look at their performance to show that there was a continuous upward trend in their indices? So these are the issues. Stock market is not gambling. I cannot remember the last time I looked at my portfolio. I cannot. It's just that sometimes when I want to post information for, let's say, my group, I just open my portfolio to maybe get screenshots of some equities.
• 2:12:37
  And immediately you open your portfolio. Even on days that the market has dipped, you find out that your portfolio is going up. It gets to a point where you don't even bother. Those things don't bother you. In November of last year, when we were having issues with non-clarity on the tax,
• 2:13:05
  new tax laws that was being implemented people's portfolio went down but that was a buying opportunity for a lot of people because just one statement from the minister of finance then and everything went back up so you don't the stocks are not going to go up forever they are not if you are in a fundamentally good stock it could have a dip for some time and then by the time it starts to go up it will go higher than where you bought it before
• 2:13:35
  So that's just our way of looking at the market. And that's why for anything you are buying, you must be convinced. Don't go and buy because somebody asked you to buy or because the price is going up. If you are buying because the price is going up, then you would have bought at the top. And that's why your portfolio has dipped now. That's why sometimes just hold that cash, educate yourself properly, know what you are doing in the market. And anyways, if you are a new...
• 2:14:05
  There's no way. That first few, two, three years, it's a learning curve. So you deploy your money little by little until you get to that point where you know, you know what, these are the real deals in the market. But I will tell you one cardinal mistake people make. Once they buy the stock and it starts going down, they leave the market. If you leave, you will never win. Because when people left the markets during COVID and NACO,
• 2:14:36
  was to Naira, they were not there. For those of us who were there, who bought Naku at that price, go and check the price of Naku now. Naku is like over 200. So even if Naku falls to 100 Naira, how does that one affect me? How does that one affect people who know the market? So you just need to know what you are doing in the market. If you are not sure, ask people to mentor you.
• 2:15:07
  Ask those questions. And then, you know, like I said, there's no way your stock will go up forever. Your portfolio is not for you to be checking every day. If not, you will develop high blood pressure at the age of 35. And you don't need that. So that's what I would say in respect to that. And I hope that helps you. BK, unmute your mic and go ahead.
• 2:15:47
  fantastic job you guys are doing this is my first time of joining and it's been highly very educative um so i recently just want to start investing in ninja um ngs and um first thoughts that came to mind was to do stand big nigeria equity fund i wanted to just
• 2:16:11
  put back on the phone with Stambic and then play around with some part of the money just to play safe. But I'm not quite sure if that's a fantastic move to make. After listening to all that was said this evening, I'm thinking that mentorship will probably be a better idea and will be more profitable in the long run. So do you mind advising on what you think I should do?
• 2:16:40
  I understand, I mean, advices like this cannot be very definite and start all that. So I'm not taking this rule like I'm saying, if you want us to discuss offline, I'm happy to do that. But what would be your thoughts or your perspective in this case? Okay, thank you very much, Bekin. Do well to join the Telegram group, okay? Secondly, it's a good thing you brought this up. The Stambik ETF is very, very liquid. It's value trap.
• 2:17:10
  A lot of people are trapped in that equity right now and they cannot get out. So it's a good thing you mentioned it. And I will tell you, for now, they need to do something for the ETF market. It's not really working. It's not really working as it is right now. And for those fund managers who are here, this is always an opportunity. Sometimes when we do these spaces, it's an opportunity for brokers, fund managers, registrars.
• 2:17:40
  companies, players in the industry to come together and rob mines. And then that way we are able to solve all the problems that are bothering the exchange. You know, make it deeper. Because at the end of the day, if we don't solve these problems, then it becomes very difficult for international investors to come into the market. Okay?
• 2:18:08
  So for our Ghanaian brothers, we just got upgraded from unclassified to the classified in the FTSE market. The FTSE Russell is a rating body in Europe that makes investment all over the world. And they have criteria they use in finding out whether they will have to invest in.
• 2:18:35
  certain parts of the world, certain developing countries or not. We were actually in a lot of these indexes before, but there were some issues Tope alluded to. And because of that, because at the point it became very difficult to even repatriate forex from Nigeria. And there was too much opacity. There was no transparency in the market. So the international investors had to leave.
• 2:19:03
  You understand? And right now, they are trying to come back. So for one of them, we've gotten a goal. There's another one we are waiting for, for them to come into the market. The good thing with these international investors is once they come into your market, they provide a lot of liquidity. Now you are talking about a $25 billion market cap for Ghana. If these guys come into your market, they can bring another $25 billion into that market.
• 2:19:31
  everybody, it will help to boost the market. But before they deploy that capital, they must make sure that things are working properly. There's liquidity. There's no information asymmetry. There's no insiders trading and stuff like that. So for the Stanby ETF you are talking about, Senko will give you more light when he comes on. I'm just going to save the last for Senko.
• 2:20:00
  Senko, they got into that equity at maybe 100 Naira and they got to like 7,000 or 10,000, 11,000 Naira. 430 NAV, 430 Naira per unit, 430. And they got to 11,000 and, you know, a lot of people are trapped. They can't sell and all that stuff. So it's just a good thing you mentioned it. That's not the best place to start your...
• 2:20:27
  investment even though a lot of people think yes it's good to trade etfs and all that stuff but you know it's not very liquid uh and you know like i said join the telegram group uh we can further these discussions uh on the telegram group the telegram group is attached to the uh uh green ticker handle if you scroll through the green ticker handle or you is pinned to the green ticker handle join the telegram group
• 2:20:56
  copy Senku, copy myself, or copy Onome, and we should be able to help you, direct you on how to navigate the market. All right? Begin. Thank you very much. Very helpful. I do appreciate it. No problem. You're welcome. Chris Hector. Yeah, good evening, everyone. Firstly, let me appreciate the people that...
• 2:21:28
  and call this particular program is very, very insightful and educative. I came up to actually react to the person that mentioned something about she has been sued. But I also had an issue like that. Probably, let me say three days ago with my own broker. So kind of the, I don't know how it happened. Probably it was a glitch or something. So the day it was bought, I got my, what they call it, my account was,
• 2:21:58
  My balance was deducted and I received what they call the alert and everything. Only for the next day, suddenly I discovered that it was reversed. So what I just did was to write to them. And I think under like an hour or so, it was reversed back. So sometimes those brokers, I don't know what they do behind the scenes, but you writing to their customer care might help. So that's just my only two contributions.
• 2:22:28
  Thank you very much, Chris. That's why we love this community, because chances are somebody may have faced your problem before, and the way he solved it becomes a valuable tip to try and solving the problem at hand. Jacob Folari, go ahead, sir. Good evening. Good evening. I hope you are hearing me now. Okay, thank you very much. I really want to thank you, Charles, for what you are doing here. You are doing a great job.
• 2:23:02
  And I pray that God will reward you. You are really helping us to really understand the market. You are really giving us a lot of helpful information. And you have been able to bring someone like Mr. Tokwe, who I really consider to be a star in this line. He's somebody that one should listen to. I've been in the market for more than 25 years. I've been trading from the days of Union Bank.
• 2:23:32
  When Union Bank and First Bank were the leading banks in the stock market, that was the time I started buying. I started buying when I was just a small boy in the insurance industry. And I really understand what goes on in the market. Talk about really hits the nail on the head tonight, when you were talking about corporate governors. In fact, there is nothing about stock other than investment. The main issue is corporate governors.
• 2:24:01
  And this is what's the area where many, many Nigerian institutions or the whole Nigeria itself is lacking in this corporate governance matter. Everything, every sector in Nigeria is lacking in this corporate governance. Because corporate governance is really universal. Universal affects every area. So I really thank Mithatokwe for really bringing up this corporate governance. Because that is what is affecting the banks. There is nothing wrong with the banks other than the issue of corporate governance.
• 2:24:29
  When you look at companies like JITCO and the Zenith, the main issue is corporate governors. And in those companies, my experience has shown that in those companies now, there are strong men that are holding the evil people there from performing their enterprise, which is to steal from the company. And that may not be the case in many of the other banks, you know, like Jimovia.
• 2:24:58
  in zenith and the the fuller dealers and the budgets in the in the gt they are the one holding in fact in future you cannot guarantee what will happen in those banks because as soon as those rules begin to exit the corporate governance issue may begin to happen and that's what is bringing the institutions down so but the challenge now is that how do you really know the level of corporate governance in most of the companies you hold stop because yes that is that is the issue and that is the main challenge of the
• 2:25:28
  of this our industry so i really want to i just want to commend you and shipping that you know is that if you give us more guidance on how we can really hold on this corporate governance if you can help us more on corporate how do we check how do we ensure the corporate government is going on in the companies we hold shares how do we monitor those because most of the time you don't know what is going on in these companies what is going on in this company is everything is so thick
• 2:25:55
  opaque and you don't know what's going on in the companies and i don't want to take most of the time of on this on this but then the other thing i want to say is that you last time when i spoke you said you are going to help me to join the insta the telegram group and i've not been able to do to achieve that please i don't know whether you can be of assistance to me to join the telegram group so i can get information because you know this market is about information you need so much information every day
• 2:26:22
  you know i i am a retiree and i rely on the stock market for most is where i have my monies in the stock market and one of the things you have been able to learn from you tonight is that you have educated us that we should really reduce our involvement in the banks otherwise we'll burn our fingers because for me i have about almost 10 banks in my in my portfolio and i think that is not healthy enough because when the banks and the way the banks are going now it's like
• 2:26:50
  you are not sure what will happen to many of them at the end of this day so please i don't want to save much time please help me to join the telegram group of the of the green tickers thank you very much okay before you see talk about talk about her left but he had to come back for you because of your question and i'm going to personally drop the telegram group on your dm so that there won't be any issues with you joining and then i deserve
• 2:27:18
  I declare to talk by now. Thank you. Yeah, thank you very much. Sorry, Charles. I didn't leave. So I was having audio issues. So I had to exit. Then I can come back. Sorry, Mr. Jacob. Thank you so much for your kind words. Please, could you repeat your question? But actually, you know what? If I thank God I came back, I actually want to advise you. But before I go, I had to do that. Sorry, let me have your question.
• 2:27:47
  Yes, I was saying that you hit the nail on the head when you mentioned corporate governors. Corporate governors are the main issue in most of the stock market. When you overcome corporate governors, you are already one. Once you are able to know corporate governors that are taking place in most of the communities, you have interest. And you are able to act accordingly. You are on top. Now, my question is, how do you keep a tab on these corporate governors and some of the issues coming to hold stock? How do you know what is going on in those places?
• 2:28:17
  how what strategy can somebody use because i my experience was that you know i was affected when you know bank just went down suddenly many years ago that's about we don't know how many years ago now that you know bank went down you know i was working in the union banks group and you know bank was crashed and we didn't we didn't even know and we're still buying their shares all of a sudden they just announced that the bank has collapsed under us under one dollars so how do you really keep tab on these corporate governors that's my question
• 2:28:46
  Good question. Like I usually advise a lot of people, which is why when I tell people to pay attention to financial statements, people feel it's like an uphill task for them. So everything in a financial statement, everything you need to know about an organization is usually in the financial statement.
• 2:29:14
  You see, the day you are able to interpret financial statements, you know, they are written in numbers, right? The day you are able to interpret it in words, that you can explain it in words, to me, I feel that you are ahead of every other person in the market at least with 30% already. Because when an organization is wasteful, when an organization is careless, the accounting statement or the financial statement of the organization will reveal it.
• 2:29:43
  When an organization prioritizes their shareholders, the financial statements will reveal it. When an organization is not prudent, the financial statements will reveal it. When an organization is reckless, the financial statements will reveal it. Let me give you some examples to help you understand what I mean. Let me go to the banking sector. Let me pick GT Bank again as an example.
• 2:30:14
  If you look at the history of the operational cost of this bank, you will discover that this bank, despite the harsh operating environment, you know, we have in Nigeria, you know, to be honest, it's difficult for businesses to actually survive in this climate, you know, where you have to generate power for yourself and all that. But even at that, take GT Bank, for instance.
• 2:30:43
  Look at the operational cost in GT Bank, in probably Access Bank. Look at the operating cost in these other banks. You will find out that GT has been able to maintain or to probably have what I would probably call a decent OPEX compared to other banks. That's number one. Okay. Now, look at, for instance, look at...
• 2:31:15
  the major metrics to measure how, you know, to measure bank's profitability, which is the return on equity and then the return on asset. Now, if you look at the return on equity, you would know that because your equity, you know, your capital is your equity. Let me tell you something. When you exchange, for every time you buy a company's shares, either a public offer or a right issue or, I mean.
• 2:31:42
  You're exchanging your money, which is your capital, you're exchanging it for equity in that organization. And what that simply means is the organization is indebted to you for life so long you're holding your position in that organization in the form of equity. So when the organization is able to grow its equity, that means your capital is being deployed effectively.
• 2:32:12
  Or it's being put to work. Or it's being put to use. You know, when you compare probably in the same space or the same sector, when you compare ROEs of some of these companies, of course, you will see different numbers reported. I mean, the higher the percentage, you know, the better. And then, you know, for that organization and then for the shareholder. And all these metrics, they actually have meanings.
• 2:32:38
  I was explaining to somebody about, I was trying to educate somebody, speaking about Dangote Sugar. Was it Presco? I can't remember. And then somebody said that Presco is in distress, is in this, is in that. I said, okay. If you are going to know, the only place that you are going to find this truth is in that organization statement of financial position. And where? You go to look at their current liabilities.
• 2:33:08
  if you want to know maybe organization is currently distressed or something or they say you are having a lot of loans you can't pay back you know currently then you go to look at understatement of financial position then you look at the current uh obligation that's current liabilities and then you go to look at the current assets and by the time you get the ratio of the current uh liability and the current asset if you have
• 2:33:38
  If you do that calculation and you have your answer as greater than one, it simply means that the organization has enough assets for that fiscal year to cover its current liabilities. So that tells you that the organization is not in an immediate distress. Why? Because that ratio is greater than one. Let me even put numbers to it. Let's say your current asset is...
• 2:34:09
  So, sorry, let's say your current asset is 200 billion and then your current obligation is 100 billion. If you divide it, right, if you divide that, you will get two. So what that simply means is that the organization can cover, the organization has... Two times.
• 2:34:34
  Two times, yes. Can cover the liability two times. So that tells you that, okay, this organization is not in an immediate distress or whatsoever. So easily you'll be able to know these things. And then when you do that, you're telling yourself that you're not depending on what people are saying and then you're depending on knowledge. And when you...
• 2:35:02
  invest from a place of knowledge, it's always very difficult for you to lose. That's it. When you invest from a place of knowledge, you see, I guide myself jealously with knowledge. I don't play with it because I don't have capital to lose because I understand the rules of capital because I understand that it's very difficult to raise capital. You see, in business value chain, the most difficult thing is capital.
• 2:35:31
  To raise, to raise capital. You know, for you to raise a large sum, your reputation is at stake, so many things. I mean, it's a whole lot. You need to work 30 days to earn salary. You have to wake up, you have to discomfort yourself. Some days you're not happy at work, but you need to do it to earn legitimately at the end of the month. So there is no way you try to raise capital or you try to get it that exactly easy.
• 2:35:59
  When God blesses you with it or when you have it, the next thing is to guide it jealously. Guide it jealously, yeah. Rule number one in the market, don't lose capital. Don't lose capital. Don't lose capital. Rule number three, don't forget rule number one and two. Don't forget rule number one and two. Thank you, Charles. So when you do these things, this approach or this ideology or concept has been inexistent, but you just need to play by them because it's still working. It's still active.
• 2:36:28
  I remember, you know, last year when people felt like people threw caution into the wind and then a lot of people went into some, you know, low cap stocks because they felt that, okay, the high caps couldn't really give much value. But today, we're seeing results of a lot of these companies and then you're looking at it that, okay, what happened along the line? A company reported fantastic Q1, Q2, Q3, the money disappeared, Q4, everything went flat. The results, when you...
• 2:37:00
  go through it properly, go through accounting notes. When they see all the numbers in all these financial statements, they're actually easy. There's no rocket science here. Somebody tells you, I have a turnover of 300 billion naira. As a discerning investor, you want to know, especially these banks, you want to know where their money is coming from. Is it coming from their corporation? Is it coming from maybe an asset sale? Is it coming from somewhere else? Is it a one-off transaction?
• 2:37:30
  that is not sustainable. But when you now, maybe in the footnote, you might have three or four, then you go to look at the corresponding note, explaining that 300 billion, which is what a lot of us miss. Then the company tells you, my money is coming, 30% is from here, 50% from here. So you can see the breakdown of revenue. Same thing, a company tells you, I have long-term liabilities of 600 billion.
• 2:38:01
  and is reporting a positive P&L. But it's a bigger problem, a structural problem that has to be resolved. A smart person would be more concerned at that point and say, let me understand what makes up this number. And then you go to the footnote again to check. There'll be a breakdown of those loans, the attenu, what type of loan is it? So when you understand these things, then you're able to know
• 2:38:30
  If the organization is efficient, if it's not efficient, do they have solid operational leverage? Do they have financial cover for their operations? By the time you put all these things together, you'll be able to know whether the company is actually a serious company or not. There are companies I don't want to use as an example here. But what I would advise you is this. As a retiree, I know why you are in about 10 banks. You don't need it. They won't make you make money in the long run. You know why?
• 2:39:01
  The banking sector is regulatory induced. Let me tell you, even when a bank decides that everything is right, let's even assume, for instance, okay, it's a GT bank. We know that most things are right with this bank. And this bank says, okay, I want to pay my shareholders, probably 20 naira or 18 naira. And then the central bank will say, no, okay, please do 30 or, I mean, do 60, 70% of what you intend to pay out.
• 2:39:27
  That's eventually what happens to this bank. So this bank, they are also not entirely independent on their own. So as a matter of fact, I would advise you to probably reduce your portfolio. You can restructure. I've even tweeted about it before. I said, make non-banking 70% in your portfolio and then make 30% banking. You are into 10 banks because you're a retiree and then you depend on this for dividends. I mean, you depend on...
• 2:39:56
  you know the banks yes for dividend and then you think they are regular you know and then these are the things yes and now look at what the banks look at what has i mean look at what has happened you're not the only one in this you know um on this boat there are a lot of retirees that depends on maybe uba dividends i mean um first bank and all these access it's like these big old banks
• 2:40:23
  I mean, last year's UBA AGM, a retired man prayed for the chairman for over three minutes, saying that UBA has consistently paid them, no matter how small, maybe for 15, over 15 years or thereabouts. So, but you see, because of the way the banking environment is structured here, one,
• 2:40:54
  You see, even when the banks have the opportunity to be able to, they can't even lend anyhow. Everything depends on the central bank. Imagine if we have a viable economy, why would the central bank debit banks 45% cash to reserve ratio? It means that if you have, you can only lend out, I mean, you can only lend out 55%. So, and this is necessary because we are also growing and like we all know,
• 2:41:25
  we're still not there in terms of transparency, in terms of organizational reputation, you know, and things like this. So, but like I said, please reduce your, I mean, if I met somebody like you last year, I mean, I've been able to offer client help to you in terms of portfolio restructuring, because I know you're looking for 10% dividend yield in these banks, which is what they usually offer, between 8% to 10%, which is actually very attractive, right? Year on year. But last year,
• 2:41:54
  if somebody like me i concentrated more i mean i i can't even okay probably i talked up my zenith and gt and that was it on non-banking stock because i knew the prices i was entering some of these stocks was at 12 dividend you 10 right now i mean entering an mtn at 300 now or 250.
• 2:42:17
  I know, for instance, to an extent that MTN, at least the way the year is looking for them, if they're able to repeat the same results we all saw in Q1, in Q2, Q3, Q4, MTN is likely to pay between 35 to 40 out. So if you got into MTN at probably October at 400 or August or thereabouts,
• 2:42:44
  I mean, you're sitting on a dividend yield of 10% from a non-banking equity. That's it. Do you understand, Mr. Jacob? Yes, I do. So, please, restructure your portfolio in such a way that even though you're retired, you also want that capital appreciation. There's always that element of us as an investor that even if you have millions of some of these bank shares, you still want to have...
• 2:43:13
  that capital appraisal as well as much as dividend so if you restructure your portfolio in such a way that you concentrate on seven solid for x or somebody like you you should concentrate on solid seven um non-banking yeah non-banking equities and then the 30 percent in your portfolio make it you know banking so your banks you know especially somebody like you i'll just go straight and advise you that just reduce i mean play with the ones that
• 2:43:42
  paying well, that are consistent. Don't look at the share price. That share price will deceive you and it will continue to deceive you. See, a bank like GT, my money has been in GT for a while. Do you know why? That bank's philosophy is, okay, we prioritize our shareholders. For me, that is what I need to hear from an organization. If an organization every year keeps telling me that, okay, I prioritize, so where do you think I'll put my money? I mean, that's plain enough.
• 2:44:11
  This bank just told... Thank you, Charles. This bank just told Sheldon that, okay, we're going to increase their payout again. What does that tell you? This bank has done 12.76. Then express something in the region of 14 to 15. I won't be surprised. Sure. Mr. Jacob, so please, restructure your portfolio non-banking 70 and then banking 30. So the non-banking can give you good capital appreciation and then you have a blend.
• 2:44:41
  of dividend in your portfolio please going forward if you can still do that do it it will do you well especially now that you're retired you know you can't afford to risk your capital capital sure thank you very much thank you i'm grateful thank you
• 2:44:57
  Thank you, Jacob. Thank you very much. Thank you. Yeah. In addition to what you read, you read something very, very critical, you know, which is something we will discuss for another day. But we have to know what the succession plans of these banks are. You know what I mean? Yeah. Okay. Yes. Yeah. Oh, sorry. Sorry, Charles. Let me even point to that. You see, again, I don't know what...
• 2:45:25
  First Bank policies right now. One of the reasons I invested in First Bank those days, I mean, after the public offer, you know, again, I advise people that when you invest in a company, go and read about the company. Understand the organization's policy and how it affects shareholders. When you do this, it gives you more insight about that company and then you can speak well about the company. And from that alone, that can also even reveal, you know,
• 2:45:55
  what you're looking for, you're looking for the management quality and leadership quality in some of these organizations, the association plans alone will speak volume to you. For instance, a GT bank, I don't know why I keep mentioning this, but please, I'm not saying you should go and buy a GT bank, but you see, GT bank usually knows its MD at least over, I mean, probably two years or more because I was privy to...
• 2:46:24
  I took a course at CPMS and the founder of CPMS, it's a brother to, I mean, yeah, a brother to Mr. Fola. He was a non-executive director in that bank. Within that period, I learned more about the bank because I figured that this bank, they have succession plan.
• 2:46:48
  When GT Bank knows that, okay, my MD is retiring, for instance, probably in three years' time or four years' time, they are already making arrangement. And First Bank used to have this, but I don't know, you know, I've not really been following up with First Bank development. So, again, one way to see an organization that is actually serious and then is ready to, you know, stay for as long as services are valuable to people.
• 2:47:15
  You know, organizational succession plan is something that is very important. And it's something that even organizations shouldn't joke with. And even investors should be following up on such things. Thank you. Charles, you can add more to that. Thank you very much. Thank you. I see that this space is really hot today. We have a lot of people wanting to ask questions. So, like I said, in succession planning, we'll have a...
• 2:47:42
  Another day for it. And we'll let you know. Amari, unmute your mic and go ahead. Amari. Good evening. Good evening. Thank God for a lady. Okay. So the first thing I usually do is appreciate you for creating such a community. And the first thing I have today is that with my CSCS account. So when I opened an account,
• 2:48:16
  I don't know why I have not been able to log into the account. I do get messages when I buy stock, when I buy shares rather, but I have not been able to log in into the account. I have sent, I think, email or two. I have not gotten any feedback. I don't know what to do.
• 2:48:39
  Because anytime I hear about this or you need to have a CSCS account, I'm always going back. Okay, let me even see if I'll be able to log in. But I have not been able to do that. And I honestly don't know how to go about it again. Because after the mail, I was expecting a feedback or maybe just anything. But I didn't get anything. Also, I actually learned.
• 2:49:06
  I learned something really new today about structuring the portfolio. Because when I started, I think most of our ideas mix up, I think, about maybe 70% to 60% of my portfolio, even though I don't have much money in my portfolio. So I learned that starting with the growth talk and then when you build yourself, you can now chip into.
• 2:49:35
  Stocks like Haradel and the blue chips, like they used to call them. So hopefully, I'll be able to restructure that. Thank you. Thank you. Did you pay for your CICS account? No, I was not able to. Okay. Before the drama started.
• 2:49:57
  Okay, so everybody has a CSCS account, okay? The account we are talking about is a CSCS online account where you can view what you have in your portfolio. So that is even more reliable than what your broker's portfolio is telling you you have. Because sometimes the broker's portfolio is delayed, but immediately you buy.
• 2:50:22
  any shares, it goes straight into your CSCS account. But for you to be able to view your CSCS account independent of your broker, you can register for it independently, but it's not free. You pay money for it. So you go to the CSCS website and then when you click, it will prompt you. They will tell you the amount to pay. And once you pay that money, because as you are registering the account, they are giving you...
• 2:50:51
  You are choosing a user's name and you are choosing a password. And once the account is open, contact at CSCS Nigeria, cscs.ng, we send you your login information and you can log in. So the fact that you have a CSCS account does not mean you have the access to view it online. It's the access to view online that we are talking about here.
• 2:51:18
  And I don't think you've gone through that process. That's why you are saying it's difficult for you to log in to your CSCS online account. For you to be able to do that, you have to pay, I think it's 8,000 naira. And then for some special people, people that have a bigger portfolio, you pay a little bit more. So write to contact at cscs.ng.
• 2:51:45
  and they should be able to put you through, okay? And keep your ARRA there, but going forward, you know, your dream should be to buy more ARRA, more UAC, more NACO, more UCAP, more initiate, okay? And like I said, when I'm in a good mood, I tell you where fund rotations are going into.
• 2:52:10
  Fund rotation is going into insurance company. Insurance companies will run for the next, maybe a couple of, for the next two to four, five, six month range. Some insurance companies are really going to run. If you can cash in on that and make some good money, take the money and buy yourself some more UAC, buy yourself some more rather, that will be appreciated. Again, join the Telegram group, okay? I cannot overemphasize that. Mr. Jacob.
• 2:52:39
  I sent you, I dropped the Telegram link on your DM. So confirm you've received it. Thank you very much. Okay. Thank you very much. I will check it here. Thank you. Sounds good. Chidi, Amaria, I hope that answers your question. Yes. Yes, it does. It did. Thank you. Okay. Chidi, go ahead. Good morning from this side of the world, Australia. My name is Chidi.
• 2:53:10
  Thank you for giving me this opportunity to speak to you guys. I want to talk about AfroInvest, the stockbroker I use. Okay. Last month, I think so. So I had an issue, a glitch. There was a glitch. A lot of people were affected in that process. So I had about 4,900 shares of MTN at that point in time. Then my stock was increased over 7,800. Then I was like, what's going on?
• 2:53:41
  So I checked my wallet. Balance. What did you say? Your balance. You checked your balance. Yes, I checked my balance here. I saw I was debited about almost, I had like a million in account here, but I saw like minus 1.9 or thereabout. So I was like, what's going on?
• 2:54:05
  So I reached out to them and they were like, oh, they're regulating the system. That is either I sell off at that point in time or I pay up. So I was like, okay, I could not use my account. Then after much conversation, I said, okay, I'm going to pay up. I paid. I topped up and everything was going well. Then about two weeks later, yeah, about two weeks later, the shares were sold all of a sudden. I was like, why did this go on? I have sent you guys an email.
• 2:54:36
  And we had the conversation that, okay, I'm going to pay up, and I paid for those shares. So those shares were about over 2,800 of them, less than 2,900. They bought them for 7.05, and they were sold for 700 or thereabouts. I was like, why do you guys do this? This doesn't make any sense to me. They were like, oh, I did not copy the other.
• 2:55:02
  um email address when i was communicating with them i was like that's not my business i had a conversation with you guys via email you guys responded and i've paid up so what did you guys not sold my shares without even letting me know so i copied um sent i sent an email out i copied um what's it called complaints cscs and all of that so they told them to look into it then i got an email from one of them saying oh
• 2:55:33
  They were trying to reach me on my Nigerian number. It wasn't connecting. So I gave them my international number. So they reached out to me via WhatsApp, and they were talking more about what do I want. I told them, I want us to go back to our discussion. They were like, we can't go back. They've already sold the shares. So I was like, this doesn't make sense. Anyway, back and forth, the issue has not been resolved yet now. I told them, okay, forget about it. I will just move on.
• 2:56:00
  But I was like, what about the fees, the charges that was incurred when the shells were bought on my behalf and sold against my will? They were like, oh, they will get back to me on that. Still up to now, nothing has been done. So I'm like, this is a bit unfair. So this is what I just want to talk about. I can see Profito Boman. Before I go, Profito Boman, maybe you have something to say. Go ahead, Profito Boman. Oh, yes. Thank you, Mr. Charles. Thank you.
• 2:56:35
  um startup like i don't get your question cheating like your account was negative and it's not your fault and then we're telling you to play the negative on your account with a clad and you played it yes say that again they bought some did they perform some transaction for you without your intention right yes they bought about okay first of all they bought about um
• 2:57:06
  almost 59 million shares of MTN, first of all. And they took it off immediately. Then later on, they bought about 2,800 and something shares of MTN. Then I told them, okay, that's fine. My account was in debit. I was like, okay, that's fine. I'm going to pay up the balance. So it was about 1.9. I paid up and it was fine. Then two weeks later, they sold the shares again that they bought, that I've paid for already.
• 2:57:36
  I think this is getting out of hand, Mr. Chas. It is. I will speak to, and this, I forget his name, Adideji someone, someone. You are not the only person that is complaining about this rubbish, I tell you. Many people have issues. The glitch is not your fault. Like, I don't know. I don't know. Maybe you should message me. I don't know what to do. I don't know maybe your problem is going to be solved, but I know one thing that I never invest in. You can just reach out to them.
• 2:58:05
  This is getting out of hand. Even my take is, that's fine. I have moved on, but I told them I will start commission for when the shares were bought, fees and all of that. And even when the shares were sold, I also paid fees and commission for my account. I'm like, okay, that's fine. Let's just resolve all of that. Just resolve my account and bring my account back to normal. Which they were like, oh, they will do that. They will do that in batches. They have not gotten to my batch now. This has been since.
• 2:58:35
  Since April, I think so. Yeah. Okay. And that's it. Okay. But my account is fine now. But they've not resolved all those commission fees and all of that. Okay. So I think the truth of the matter is, first and foremost, they bought shares against your will. You told them you paid for it. You paid for it. And now they want to sell it against your will. Exactly.
• 2:59:03
  As long as you have a letter trail, if you have a letter trail of every conversation that took place, in all this, did you involve SEC? Yes. I sent an email to complaint SEC, SEC, Info, NGS group. I sent to like six or seven people. So one of them go back to them and copied me. And that was until then they reached out to me.
• 2:59:29
  Because I was following that matter up very seriously and I had about four contacts from NGX that I posted and I asked people to write and copy those people because I was going to go and drop those contacts again on your DM, copy check, because if I were you as it is right now, I would not even... When Mr. Folari was talking about corporate governance, that's exactly what...
• 3:00:00
  he meant and these are the issues we have corporate governance issues all over our institutions and it's unfortunate how everybody continues to keep quiet over things like this but you know we cannot continue like this as a people we need to do better but meanwhile
• 3:00:26
  I would want, I'm going to send you a couple of names on the NGS regulations and see if they can help you resolve it. Copy, second, again, tell them after all said and done, they said they were going to reverse the charges. But the fact that they've not reversed the charges, that...
• 3:00:47
  you know that they should refund your money that they should they should put your account back the way it was prior to the glitch and for the number of income the number of days that they have inconvenienced you they should actually be paying you compensation these are always stated out in uh in the law books of the ngx and you know like if you belong to our uh
• 3:01:11
  Telegram or WhatsApp community. I posted all that information. In fact, we had an extensive space on AfriInvest. AfriInvest didn't think it was necessary for them to come and defend themselves. The NGS has not made an official statement as to what really happened with that glitch, whether the glitch was from AfriInvest.
• 3:01:33
  system or the glitch was from NGS system, they have not taken responsibilities. And these are the issues. If you cannot take responsibilities for issues like this, why would the companies you are regulating take responsibilities? Every day we come here and we say companies have not released results. SEC have not released their results since 2022. Since 2022.
• 3:02:01
  Since 2022, CERC Nigeria has not released their audited financial report. But you want companies you regulate to release their results. Does that make any sense? These are the issues. When we talk, they say we talk too much. When we talk, they say we want things to be done properly. We want our market to be vibrant. We want our market to be attractive. But when we say these things, they say we are talking too much.
• 3:02:31
  This is very unfair. And they know because you are abroad, you can't come and harass them in the office because I think that's the only language people understand. You know? But I would drop the names of those guys in NGS regulations and see if the names are amongst the people you copied before. If not, copy those names, copy SEC again, tell them based...
• 3:03:00
  that you had actually decided to settle these things amicably without any issue. But the fact that they are shirking their responsibilities and being non-communicative with this, you have decided that you want your account the way it was before. Let them just restore your account the way it was before. That all those charges and all that, they should take care of it and you should be compensated for the inconveniences that they have caused you. All right?
• 3:03:29
  Okay, so our last conversation about this was on the 16th of last month, last month, April. So I asked them, is there any update on this? And they told me, you'll be informed once it's done, that the accounts have been done in batches. No, that's not it. There's a timeline to correct those infractions. And that's why I dropped the law book. For any day, every day they break that law.
• 3:03:59
  Any day it extends, they find increases. And that's the truth. And that's where I'll be calling on investment lawyers. We are the investment lawyers we have in this country. It's time for a class action against some of these irresponsible organizations. It's time for it. Because we need to make them sit up, honestly. And the NGS should be joined as a partner in that suit.
• 3:04:27
  Because they are responsive. No matter what you say, they will never come and respond to infractions like this. You know? So I will send you the names of those guys. Copy, check, write your host to return them. You want your account resolved. You want your account resolution within this period of time. Give them two weeks to resolve that account. If they are not able to do it, then...
• 3:04:55
  they should be ready for any consequences that comes with that. If it's possible, I will send you the law books and the specific areas that relate to infractions like that. The NGS should come and tell us what punishment they've meted out to Afrinvest for all the shenanigans they've been performing on the exchange. I just wish we could help you more, but that's what we can do for now.
• 3:05:26
  Thank you. No problem. Roman, unmute your mic and go ahead. Roman, Roman, are you there? It's Tijaf. I see you are raising your hands. Go ahead. Okay, yeah, I just wanted to ask, with respect to all of these complaints, since the NGS and CSCS have been unresponsive, because I want to actually send the mail to copy NGS and CSCS, so I want to ask.
• 3:06:05
  Is it also necessary to put consumer protection service, consumer protection commission? Yes, that's very important. Thank you for reminding me of that. Yes, add that. Okay, thank you. Add that. I will do a tweet and I'll put the names of the people responsible because NGS, they have different subsidiaries. The regulation part, I guess you should be writing.
• 3:06:33
  So if the people you wrote in NGS do not have NGS reg in their email address, then you probably did not get to the right people. These people are very robotic, you know. They are also very, very careful because they know they make one wrong move, it could create all kinds of problems. So they tend to, it's very civil service-like. So if it doesn't really concern them, they will just pretend like...
• 3:07:01
  They will just ignore and pretend like they didn't see it. So I just hope that as we continue to troubleshoot, we'll be able to solve problems like this. And this is why I said these platforms, they should be coming here.
• 3:07:20
  They should be coming here, listening to these problems, and coming out to a new solution. Tell us, how are we going to be able to solve these kind of problems? It's a repetitive... Every time we come on Spaces, we are talking about stuff like this, and it's getting very frustrating. It's getting very, very frustrating. Ola Kunle, unmute your mic and go ahead. Hello, everyone. Good evening.
• 3:07:50
  um first i want to thank you for this um platform it has been really really educative for me so um the issue i have is there is a colleague of mine she's older she said she bought shares from way back she could trace her css but she could not get her chain so she could not open a css online account then we tried them looking for the stock broker and his m1g i think gmt or something like that
• 3:08:19
  but it wasn't in existence so the problem is how does she she still receives our dividends she bought a gt from way back so but the question is how does she assess those chairs in case she wants to buy more or sell on that css okay so she should go and do she should she should go and do a css global search okay um she can open a new stock brooking account
• 3:08:50
  with a new stockbroker and get the broker to do a CSCS global search for her. Okay? And that would reveal all the information she's looking for. Oh, okay, okay. Would Bamboo be able to do something like that for her? No, no. Bamboo is the third party in this thing. Open a conventional stockbroker. Okay? Okay, okay. Go, go, go.
• 3:09:20
  speak to a conventional stockbroker, open an account with them. Once you are opening the account with them, tell them you have another account, but you don't have any information about that account, even though you get dividend, if they could help you do a CSCS global search, so that CSCS global search, so that they can merge the two accounts with the new one you are opening. Okay, thank you very, very much, sir. All right. And now...
• 3:09:52
  Drum roll for Senko. Go ahead. Senko. Yeah. Good afternoon. Morning. Good morning. Good afternoon. Good evening from wherever you're spacing from. It's been quite an interesting conversation for my Ghanaian brothers to talk about. I'm sorry. Am I loud and clear? Loud and clear. All right. These past few days,
• 3:10:28
  I saw some kind of emotions flying around about the banking results. First of all, I would say, let me give kudos to, like Toppe mentioned, I give kudos to Kaduso. You know, Murphy, when we remember what Murphy did and looking at, especially again, Buhari, looking at how bad the Naira devalued.
• 3:10:57
  uh it started from them if we are being honest and uh look at um from the 570 we went to 700 um seven something when wary left naira was trading around 700 and something this was um from a 480 or 440 for 80 to 500 and 750 then obtainable came in and then did um completed the the
• 3:11:26
  you know, the further devaluation, I mean, the destruction of the Naira. And you see many people talk about the stock market and saying, oh, we're in an overbought region. The former president made our market look this way, too much Naira chasing, you know.
• 3:11:50
  um the value so you see bogus naira even if you convert the airside yes i'm just looking at and this is why i always go through again to the years i'm coming back to access bank and these systemic banks that i just want to put every other stocks into trouble
• 3:12:08
  um so the s i if you look at the s in dollar term 241 um we closed at an all-time of last week 244 775.8 points and when you look at it in usd like again i keep on saying these things we've not got into the 2015 levels that i'm looking at january 15 2015 yearly 186 dollars 98 cents per point
• 3:12:35
  And I told you guys that I've revalued or I've revalued my, with the nine things that I'm looking at, I was looking at that's coming into the country, especially our macros are stable for now. Like there's no bad, I'm not seeing any numbers throwing up or throwing off. Currently, ASI is currently trading in dollar terms, $170.12 per point.
• 3:13:05
  yeah and i keep asking myself where is the overvaluation coming from many of these stocks have never gotten to the 2014 levels where they were trading opening nestle i did an article well i'm not saying that it's a bite again it's a value trap if you are in no one do this um and i did um a detailed um um analysis of all handle holders people that bought one doing year 2000.
• 3:13:33
  at a price of around maybe 8 Naira per share, 1 million units. And in 2008, Naira was trading at around 118. And Owando went to an all-time high of 94 Naira, 94 Kobo. And I asked myself this question. A 1 million Naira investment at that time, that person could have, let's not say 13 eggs, good eggs.
• 3:14:02
  making 94 million if you convert that 94 million as at that time in 2008 that's um 805 000 today that investment with bonus issue with the dilution and this is why i always tell people again it's only in frontier market that you see companies continue to devalue or continue to create more shares continue to do bonus issues continue to do that got to stop accept at a certain point look at the banks
• 3:14:31
  Throwing off a lot of outstanding shares. That has to stop. You don't have to be crediting investors. You keep on diluting my earnings and my holdings. That has to stop. And I did an analysis and I said, okay, let's do an extrapolation. After all the dilution and everything, this person has maybe like a 3 million unit of shares. In narrow term years, you might say, oh, he has done better in 20 years.
• 3:15:01
  making over 140 million. But if you convert that to Naira, to the USD standard, because all wealth or all net worth is measured, the SI units, is the USD. And they have converted that money. It has not done better. In the time value of money, inflation has eroded the value, even though it is hoped by barely 50 million in 20 years.
• 3:15:31
  If you convert that money, that's $106,000. You can check. That's the latest, I think, second to last post I made on Oandu. And look at where Oandu is. And how did they get that 3 million units? A lot of bonuses. A lot of rights issues. And these are things that dilute the company. If you go to an advanced country, Czech advanced countries, you hardly see them do this. What they do is...
• 3:16:01
  High-bid instruments. Preferred shares. Go to the bond market. Because shareholders will keep asking questions. Why do you want to dilute me? Why should I come into your bank? A split. Where a company wants to do a split, maybe because it's like an NVIDIA or a Netflix, because the company has run and they want to make it affordable. Again, that's a terrible excuse. Why NACO did a bonus issue or a script issue?
• 3:16:29
  was because they want to consolidate authority at the center, which is very nice. And that's a very valid point as to why companies should always dilute or as to why companies can, you know, once in a while, do that kind of dilution. Not that, again, every time recapitalization, it was good. When Cardoso came in, he saw that there was a problem and he told, he needed the banks to, you know, up their capital.
• 3:16:58
  Like, they were just reporting, carrying on, you know, 2008, from 2008 crisis, where there was devaluation, banks reporting, and at the end of the day, they approved their result and all those things. That transparency came into the banking space. Ladies and gentlemen, if you are holding bank, especially banking sector, and you're not holding the blue-chip banks, sorry, do not be a banking investor. Yes, I see a lot of people getting so, you know, carried away or...
• 3:17:28
  uh or so um emotionally attached to some particular banks and so i need to i can't do without investing in this bag or because of their dividend because you have a lot well listen these banks have diluted you go and check their standard shares how much more can they do like and i i can i said something i said tier one banks and i saw a lot of handles um you know you know it was quite disappointing
• 3:18:00
  Because they said, oh, Stanby cannot be part of tier one. Okay, why do you qualify M Classic, M Core, a tier one bank? Is it by branches or by ATMs? And I laughed. And I said, and I just didn't want to just go ahead to start talking about Stanby Code Co. or the group. Stanby is none of our banks. None of our banks is nowhere closer to what Stanby is. None of them. Stanby trading in the JSC market.
• 3:18:28
  21,000 Naira. If you convert that in Naira, 21,000 Naira per share. Total market capitalization, 41 trillion Naira. So which of our bank is trading closer to Stambik? Even the access bank that is looking for, I don't know what they are doing. Maybe if they are doing banking or they are playing and you see some people. That's a value trap if you bought an access bank.
• 3:18:51
  Because every other banking stock has done as a platform stampede. There's nothing you can come and tell me here or say that access is in the limelight. What limelight? What limelight are they doing? A bank that cannot sweat its assets? A bank that is barely producing one, that is doing 1% on ROA and after their consolidation, the consolidation they got is inorganic. No synergy in those distance. These are conversations we should be having. If you are trading by an access bank,
• 3:19:22
  Trust me, you will not grow. That's the truth. Your portfolio will not grow. It will remain the same. Look at what they've done. Look at their counterparty. Look at Zenit. Even with that huge impairment, look at how Zenit has grown. Consistent volume, organic volumes. Look at AccessBank. Then come to UBA.
• 3:19:45
  And I was looking at Fes.co and I still ask myself this thing. I was looking at their cash flow and somebody was trying to school me or lecture me on the timeline about cash flow and I smiled. Look at Fes.co. There is a problem. There is a serious problem. And you can't wait. You don't have to wait till when something crazy has happened to one of these banks. Imagine Fes.co on their call saying they are going to raise capital of one trillion and some people are trying to defend it. Go and look at their cash flow.
• 3:20:17
  bizarre it was alarming i was looking at the banking cash flow and they've been struggling and q1 results again i always tell people that's accounting profit i can't you don't just rely on it in an income statement for you to make a decision because oh the income statement was fine and okay what happened to the um the loans 2025 abysma 2020 mq1 i'm not seeing anything
• 3:20:47
  Because it's the same thing. Impairments even still run. And some people say, oh, impairment is normal because you have to give loans and that. Oh, GTCO didn't give loans? Or Zenit didn't give loans? We should stop justifying or enabling bad things. This is what can cause bear markets if we don't know. Because they are systemic banking. Every company or organization uses these people. And we start having problems with our banks trying to turn out.
• 3:21:17
  bad result. That's the only red flag that I'm seeing. Because if their result was good, why did they delay? Didn't JT Coriam release? Didn't Stambik release? Didn't, what is their name again? The other guys, Zenit. Didn't they release? So these are things that you put back on. And like I said on the workshop on the Telegram forum, I told them last year, many of them still reminded me. I said, going forward,
• 3:21:49
  Banks will no longer be leading these things. Banks will not be leading as they were leading before. No more FX gains and all those things. Now it's time for you to do banking. If you can't do banking, then sorry, the game is no longer here. You must grow. We are not ready to grow. And I said it with this massive dilution. And the goal again for banks is what? To hit one trillion capitalization. One trillion now.
• 3:22:18
  Is that not for that distance? Is that not for that, you know, is that not for that dilution? So you take your money elsewhere where your money will work for you. If you had gotten into, for access holders, if you had gotten into Zenit Bank, what do you think would have happened? You know, if you had gotten into Zenit, you would have done better than you just holding an access bank for how many years, maybe for a decade.
• 3:22:49
  It's high time for us to start looking at these things, things that can cause problems, these things that can, you know, cost you money. Make your money work. Stop listening. Again, I see many people recommending, especially for these banks, that CBN, that it delayed, that the result took time, and they're still recommending that they buy.
• 3:23:15
  A bank can continue to be undervalued for as long as they can. But are they growing? That's the question that I ask. Is there something significant that they're doing to try to correct what is actually wrong with them? Are they trying to solve it? We should look beyond pain. We should look beyond dividend.
• 3:23:45
  yes i know that our culture loves dividend and every other thing but we need to start asking these questions about banks um this performance from banks so these are questions that we need to put into perspective and when you look at the other sector and again when you want to analyze company um before you even go into the ngx the very first thing i always tell people is do a top-down analysis at the macros saying
• 3:24:14
  are the macros positive if the macros are positive fine you start then you drill down you look at okay the mbs okay where is money coming you look at the um fdis where is the money coming what sectors are um is getting this uh massive attention and i was just doing my um research like last year i updated the the community and i said you know what the industrials are going to play very hard ball because we did um
• 3:24:44
  with the inflow and with the productivities around that sector and what can we see today we have seen the industrials doing that oil and gas too same thing because of this um russia ukraine one we've seen the brands um we've seen crude oil prices rise and everything like and you ask yourself where is the bear markets as long as the first thing is the first question that you're asking yourself is are any um are companies releasing good results
• 3:25:14
  Two, corporate governance, is it still standard? Are there communication? You know, corporate governance is always very important. Even traders too, because you can get trapped. A company that is not reporting and every other thing, and all of a sudden you just see that NGX has suspended them and you just went to buy the company all of a sudden and you're trapped. Your money's trapped. So these are questions that you put into perspective. These are things that you ask yourself.
• 3:25:40
  What is the Nigerian economy? Yes, I hate to say that an average man on the streets is not going to feel the impact of what the stock market is doing, which we need to correct. And I can never use the stock market to rate our government. If you want to give them scorecard, I'm not going to use the stock market because, again, yes, we can use the S&P 500 to rate what Donald Trump is doing because millions of Americans are invested.
• 3:26:08
  i rather like you use the s p 500 to gauge that whatever the economy um the economic index is speaking to you use the um nikif 225 to speak to whatever the japanese um economy is doing but i can't use that for the for the nigerian market because there are a lot of people that are not invested in the markets and um barely just 600 000 active people
• 3:26:34
  um um i think this year just improved or last 2025 also kind of improved again a lot of work needs to be done so you can use the stock stock market to gauge or to to to um assess these governments because again um it's it's you are just going to just be deceiving yourself um using that metric to to um you know to gauge or to assess the government so
• 3:27:03
  Moving ahead, looking at the ASI, beautiful. We're seeing the movement in ASI, currently trading at $170.12 per point. And the 2015 yearly, we're looking at $1.86.98 per point. And again, there's still the 2014 levels of $264.68 per point.
• 3:27:32
  which is 2014 can we get there okay that's a very big um hurdle or big task uh we need to do more before we can get to that kind of level in terms of production in terms of um improvements in terms of uh us trying to get into the emerging market index the eem uh right now we're in the frontier september uh will be put back into the index that tracks the frontier in the indices
• 3:28:01
  um composite index uh or for 50 so again we are moving in the right direction like i said again looking at the industrials the industrials looking at the ngs industrials i'll start with that before moving into uh things so for the ngs industrial has been a very marvelous year
• 3:28:22
  I remember, Colin, I'm talking about this index when we're accumulating the accumulation zone of 3,200 points to 3,487 points. We respected its 50 EMAs and, okay, let me calm down on my technical terms. But currently, this index has really, really done well. And looking at things, oh, wow. The index is currently trading at an all-time high of 11,000.
• 3:28:52
  853 points, three points. And we can all attribute this run to the big boys, the cement, not just the big boys. There's Julius Berger, there's the CAP, the paint industry, CAP, Berger, all of them coming into this index. And look at it, ladies and gentlemen, we closed with a good ultimate of 11,000.
• 3:29:21
  853.3 points and again the truth is the index is yet to uh sorry the index is is the run of this index is not over and ladies and gentlemen this index we are just in them may and this index have done them about we had to date 106.4 points i'm sorry what am i saying sorry not 164 points 107.99
• 3:29:50
  107 99 just imagine you holding those holding your money in an access bank and this is cement boys while we're talking about these things uh you know and people were like not paying attention to what the industrials especially what wapco and um brass cements has been able to do in terms of their their financials go check it's optimization cost optimization what goes up there
• 3:30:20
  and look at what, in terms of volume, also, again, not that they are up there, they've been able to utilize their capacity. They've not been able to utilize, the three of them have not been able to utilize their capacity, but the three cement boys are also doing incredibly well. Now, moving on, moving away from that, 107%, beautiful. Do I expect more from this index? Of course, yes.
• 3:30:49
  With the announcement of LLC Dangote Cements getting listed on the London Stock Exchange, I expect we should be seeing another re-rating in that. And I think if they don't do that, JP Morgan is going to be the advisor. I think two top advisors on that transaction. They'll be the...
• 3:31:17
  they'll be leading this kind of um transaction so that that would be another rewriting again for that and a lot of things going on again for dango t apart from that um also what cool we expect i expect to see what code was um was seeing some kind of um correction well i expect to see that this stock to be trading around um the 400 500 but again anything we say here is not a financial advice but something that i expect to see what could do in the coming um
• 3:31:46
  days or months or years i don't so moving away from that again what am i seeing about from um um again i think cp is due for corrections um that's wrong but it's something that everyone should keep their eyes on because these guys are doing something incredible and for cp to move from for cp to move from the 69 um naira region here today it's when cp started
• 3:32:16
  from yeah yearly open 69 i'm sorry not 69 69 naira 69 naira from january to 233.7 whole time i close on friday um this has been an incredible run for cap this is not just any hour on this is this around that we need to start questioning like what's happening there's something because this um huge um imbalance that i saw or for this week it just shows that there's
• 3:32:45
  a lot of institutional positioning um for this company and you will hardly see cap do um you are the ccp trade in the on it you know regular week trade um 8.75 million units of shares you know again not too liquid in terms of their outstanding shares
• 3:33:05
  um it's hard for you to see them do it 8.75 million unit of shares so it's something that you should be um i expect good correction but something that people should pay attention to um apart from that looking at bigger pains too in that i'm not going to talk about this um the cement boys they will always do well i know that they will do well and i know that that run is not over so um for bigger pins too
• 3:33:32
  They did us join the 100 Naira per share gang. And again, it has been another incredible year for Bega Paint. Again, for Bega Paint, yearly open was 47 Naira per share. And today, Bega Paint is worth 108 Naira, 60 couple per share. You could see, you could check my timeline. I've spoken about Bega Paint time and time again, even the CAP.
• 3:33:59
  um around them 37 9 20 25 our entry price around 36 to 33 now 25 and look at where it is trading today 233.70 per share um good things coming on in this industry moving away from that we'll talk about um the oil and gas i don't talk i don't want to drag on people but if you're for banking people again i'll say this i'm not going to spend too much time talking about banking um index
• 3:34:28
  um for banking people uh this is time to for change because they love um things you can't keep on you know you don't know the next cbn governor we don't know when cardoso will become um when cardoso will resign or retire from that place we don't know the next person if the next person will continue to be honest as cardoso has been honest enough um in that space this is the time to start asking these kind of questions because
• 3:34:57
  you ask a bank that is oh um what um there are any special estate in there but it can't or i'm using niner and they can't pay anything and you ask yourself again you look at the operating cash flow from four point something trailer to um to fail to uh around 105 billion that's a serious red flag um for facebook nothing to look um right home about again so these are questions you ask yourself
• 3:35:25
  And if they are prioritizing creating values for shareholders, the number one goal for you as an investor is, is this company going to create value for me? If it's not creating value for me, you don't have to be there. You don't have to marry a stock. You exit. You don't. You don't have to beg somebody to do something that they're supposed to do. That's why you're a shareholder. Because if something happens to that particular company, just like Anohuandu,
• 3:35:52
  In the right terrain, Orlando should have filed for Chapter 11 because I don't see what they are doing. 554 billion negative shareholders' value, eroded capital. What are they still doing in operation? These are questions you ask yourself as a shareholder. Are you still there for the dividend and script bonus that they will do? They keep on diluting you and diluting you. That's not how to make money.
• 3:36:23
  Anyways, we'll move on to NGX Oil and Gas. Beautiful for NGX Oil and Gas. For NGX Oil and Gas, again, apart from the Russian-Ukraine war, U.S.-Iran war, the NGX Oil and Gas was primed to move. And we got that from... And the NGX Oil and Gas has done a whooping 117% year-to-date. Before it was when we hit an all-time high of...
• 3:36:53
  we were up by 125 percent um some corrections um according to the markets when and the ngs so long as he's an all-time as at that time of five thousand and six thousand one hundred and four points and currently trading at five thousand eight hundred ninety seven point eight points we saw some profit taking around um harad so that's why we saw that um that's why we've seen the index correcting
• 3:37:19
  What do I expect? The NGO is not done. It's not over. Arada is here to release their, and they begin. You see what we talk about communication. Arada already immediately communicated, told us the problem, said that they are going to release the one AFS 2025 and Q1 on Auditor 2026, explain and give ahead of time. They communicated properly.
• 3:37:47
  These are companies that you should be prioritizing, like somebody willing to communicate. These banks saw these problems and they kept quiet. And that's why I get angry over these kind of things. They kept quiet, never said anything. And they said, oh, okay, because somebody did a tweet about to calm down the tension. That's not enough because when you even look at the tweet and compare to what the numbers were saying, they were saying different things. They were loud.
• 3:38:15
  Moving away from that, we look at Haradale. What do I think about Haradale? I expect that the run for Haradale is not over. Again, the market is now waiting for their results to see where the next will swing. And I expect something spectacular for Haradale. For Sepplatt, what do I expect? Look at Sepplatt. Sepplatt, beautiful on the London Stock Exchange market. If you look at where Sepplatt closed, we're going to match.
• 3:38:45
  the london stock exchange and separate i tell people they run for surplus it's not over like i know guys especially the key ingredients to their bottom line analogous has not been sweat and i expect i expect them to start sweating that um we should start seeing some colors in h1 2026 and we should start i expect that we should see uh surplus within the year between um fifteen thousand twenty thousand i hope my or maybe next year but
• 3:39:14
  I expect that CEPLA should be trading around that zone. And if you look at what the London Stock Exchange market has been doing for CEPLA Energy PLC, we hit an all-time high last week in the London Stock Exchange at 620 pence. That's £6.20. This was something that we spotted at around 243 pence. And look at where it has gone to, 620.
• 3:39:41
  um 620 pence and we expect them okay dividend for surplus should be paid um on the 14th on thursday 14th of may sorry 29th of may i mean 2026 um so again you see do i expect i expect some surplus to hit the 10 pounds um on the london stock exchange um whether i don't know when it will happen but i expect that should be in couple of months 10 pounds
• 3:40:09
  um should be trading 10 pounds and you again look at the there's a lot of arbitrage again on um and i'm not going to talk about that a lot of opportunities there um for those that want to that i want to play down um understand but if this is for hnis if you've got if you have the money or the volume of you got the volume um you can be playing that um i'm not going to talk too much about that so moving away oil and gas beautiful then we
• 3:40:39
  um narrow down to ngs consumer goods too again i'm taking my time explaining this index you know indices you know um taking my time see where volume um i'm not going to talk about the insurance index because we've flogged that so much last week um the ngsm consumer goods hit an ultimate of 4941.1 points respected the 412 on 62.6 ram supports zone
• 3:41:06
  And currently trading at another time at 4,941.1 points. What do I expect so far so good for this sector index? The run for NASCAR is not over. You look at Dangote Sugar. Again, pay attention to the Dangote. Especially all Dangote companies, pay attention to it. A lot of restructuring, a lot of movement going around the Dangote companies. You look at Sugar, you look at NASCAR.
• 3:41:35
  um again they are ready to um clean up their balance sheets that's for the sugar and um we're seeing that um um translate and you can see where and you're going to do um a right issue which we expected and um if that should happen it it boils down to two things like again is the major hope on the table between nascon and sugar these are questions investors should be asking who is going to benefit
• 3:42:04
  Yes, the synergy is there. Again, what's the SIU needs? Oh, I think Aladji is looking at a boy of food as a major competitor in that regard. Maybe that might be on the table in front of him looking at Dangote foods. Then you ask yourself, who's going to benefit? That's an assignment or take home for everybody here. Who's going to benefit? Naskon shareholders or Dangote shareholders?
• 3:42:34
  if that measure uh because i know that in a couple of next couple of months yeah that will come on the table because for all this movement that is going on around um sugar um these are questions that you want to be asking the synergy yes synergistic benefits but we're again which is going to benefit will which shelters will benefit when there's when this reconstruction happened between these two companies that's where you want to be looking at in the in the long run
• 3:43:04
  apart from that we go to the hospitality or should i say service um look at um naku they've been beautiful movement around naku um what's happening in naku okay i okay i failed to talk about fighter form is only on this on this um sweet run okay i don't i'm not going to talk about that but for naku currently trading around 204 there were sub trades and sub 200 trades and um naku
• 3:43:34
  Garen, I think their dividend payment will be around 15th of this month. Yeah, 15th on Friday, dividend payment for NACO. Well, again, beautiful thing that happened last week. Good, buyers had a major upper hand. For that week, 13,180,000 units of shares were traded. So far, so good for NACO.
• 3:44:04
  um gap zone of 992 to 11 when on the when the markdown was when the market happened what do i expect so far so good this is a company that again they have well diversified and they are thinking in the future and they're thinking in future they're thinking long term i mean in terms of how um their subsidiaries have been you know um
• 3:44:31
  diversified or how their subsidiaries have been spread across. And again, if you look into that result, you see one of the system, the commodities company, doing a 530 something million, which is impressive. What do I expect? So far, so good. I expect that if we do an extrapolation or so.
• 3:44:56
  what their expected revenue should be maybe the company should be doing maybe 2.5 2.6 billion just a loan from that particular unit then had that so whatever um the aviation sector and the aviation um units would do for their revenue again i see a lot of people come complain about there are some things that some companies there are problems that are beyond their control when there's i'm not saying there's a black swan event but it was a black swan event whether you like it or not
• 3:45:25
  is a blockchain event you don't expect a war a company cannot control a war and definitely um their major revenue there was a slight dip in that in the revenue and it was actually if you look into that um you look into the narration you saw that you see that it was um the middle east um where they get the large chunk of um income from um from the middle east and we saw
• 3:45:52
  that there was an explanation, which again makes more sense because when there is a war, you can't control that. These are forces beyond your control. Management can only just find a way or try to work their way around it.
• 3:46:11
  which they have no control over. But if this war settles and everybody, there's an agreement on the table and everybody's happy, we should see that movement for, we should see that their revenue sector improve. But looking at the technicals, everything is fine. NACO is beginning to move and expect 280, 300, my next move.
• 3:46:35
  um for this particular beautiful company again another beautiful company again i announced the entire dividend because you're sitting on the lord law of cash again there is a key red flag family feud if family food can be settled then we should see start seeing um what they want to um do but again you know despite the family feel the power um the company is still churning out um you know
• 3:47:02
  fantastic results and um again the chart looks beautiful um beautiful i'm caring for that 15 hour move but this is a triple digit stock if you ask me but against my financial advice don't ask me when of course i'm not by the triple when you see something that you know that it's a triple digit stock you know what um you start doing your digging around that sitting down every cash beautiful um one one
• 3:47:28
  FMCG sector that caught my attention is Unilever. You know, Unilever is ready to deploy that cash that they have in their disposal. We closed at another time last week at $149 per share. This is talking that people should watch out for. This Unilever $149 for me is very cheap. Unilever $149 after...
• 3:47:53
  Maybe you can check my analysis on Unilever and every other thing. Unilever, they were in the beer market for four years, and right now they broke the... Okay, you can check my charting description on what are these descriptions I wrote on those charts for Unilever. Pay attention to that company. I think the company is ready for some verticals.
• 3:48:20
  um integration and for some particular integration um they are ready to spend that cash that they have in their in that reservoir to do something greater in terms of like expansion and if you listen to their calls uh for unilever you know that they have something um in the plan especially what the parent company is doing across around the world you know um something that you want to pay attention to anyways um with hope
• 3:48:46
  I said I re-rated an ASI to 350,000 points. And with what is happening, again, Oluwede said something about the precedent market is expecting that the precedent continues to run. He's not lying. The data says so. And the market is looking at that. I know many people might not want to hear that, but data does not lie because that's what the market is.
• 3:49:16
  is saying. And again, at the end of the day, if the macros are saying that nothing is happening, if the CBN continues to be hard on these banks, hammer on the financial sector, tighten monetary policy, brought new...
• 3:49:36
  and you look at the auction, the last auction of the treasury bills, I'm not a fixed income guy, but you can see that liquidity, there's excess of liquidity lying around. And you ask yourself, you see foreigners are trying to buy our equity and they're looking for where to put this money. And you ask yourself, if you read again last year when we had our 24-hour speech, it said something about J.P. Morgan, the big 10 banks.
• 3:50:05
  rewriting up um emerging markets that capital will flow into the emerging market they expect um a bullish uh momentum not just jpmorgan goldman sachs did that um you know and every other um morgan stanley of this world and again where is the beer market coming from i don't see any beer if you can back it up with fact and figure i i'm hoping i can learn i look at it and see if it makes sense but ladies and gentlemen
• 3:50:36
  there's still upside more upside not just anyhow upside there's more upside looking at how our equity is cheap look at nestle nestle still nestle is even trading around how many one point something dollars trying to even hit i'm sorry around two something is it two dollar um almost two dollars how much is them nestle now three thousand five hundred and something that sounds like 1.8 dollars then you ask yourself this was a company that was trading seven to eight dollars
• 3:51:05
  In 2009, let me even check. Let me not call any numbers. Yeah, I'm in front of my screen. Let's just look at Nestle. And you ask yourself this question. Why is Nestle now? Oh, Nestle. When you look at prices of this stock, you miss out. You don't look at prices of this stock. You look at what the company is actually doing in terms of their valuation. And you look at what Nestle is doing again. And you see.
• 3:51:34
  In all my analysis, I did not call banks because I'm not interested in banks. Bank is only for trading. For me, I will only trade banks until their problem is over and until they are in a poor position. You can see FCMB. You can see Sterling. You can see those guys. They are having issues because if they are not having issues, CBN will not delay their results. Fidelity. Do you want to keep on that space? The only key banks you want to trade banks, Chichiko, Zenit, Stambik. These are my tier one.
• 3:52:04
  go and deal with it if you say stampic is 90 and one damage you don't know what you're doing or saying so at the end of the day you look at them this is my final submission and i dropped the mic um look at um nestle i was looking at nestle sorry currently trading at two dollar 17 cents nestle is still in the bear market that's not even broken um in the naira term nestle is going up in dollar term dressed still trading in the bear market zone
• 3:52:34
  Nestle has never approached the 2023 break-off structure of $2.69 per share. The rest is still trading around $2.17. Will the company continue to produce more? Of course, yes. If they continue to clean up, continue to, you know, we're going to start seeing Nestle trading.
• 3:53:01
  And one major trick, let me even tell you, some of these companies, when they are doing these things, especially international companies, they plot their charts against USD. When they want to go and do investors' presentation, they are plotting the ASI and their charts against the USD, ASI against USD. When they do these investors' presentations to foreigners coming to look at their company, because the foreigner is bringing dollars.
• 3:53:27
  He needs to see what their company is trading at in USDT and start asking questions of how it happened. What's the story behind that? And you start looking at them. Nestle was $7.83. That was in 2014 levels. And they've been consistently paying dividends from 2014 to entering dividends from 2013 to date.
• 3:53:58
  and you can see nestle seven dollar eighty three cents can't check what seven dollar eighty three cents was in 2014 and we've not gotten to those levels and if companies continue to produce those kind of results and then there's no distress there's no scam there's no and there's somebody there's no one um unfortunate person trying to destroy a company in terms of i'm talking about government as we saw i'm not going to call anybody name i'm not going to get into that
• 3:54:28
  If we don't have any unfortunate person that thinks he has power or disrupt the market, then we should see companies continue to turn out good results. Ladies and gentlemen, Nigeria is a place where you should invest in money. Nigeria is a place where you get value, especially for these companies. And we're not done. The run is not over. There's no problem.
• 3:54:55
  currently if there's problem i would have been screaming about these problems especially and cardoso is already fixing the bank the banking mess at the end of the day there is more value for some of these companies especially um the ones i've called and um ninja is a place you should keep on um investing and you get the value of for your money and if there's no value for money there's no point investing in that particular region thank you
• 3:55:30
  Thank you very much, Senku. And I still see a couple of people here. Fivo, are you still there? Fivo? Fivo? Fivo, are you there? Okay. Anome, any question on the comment section? Let me see. Let me see. Mostly around a couple of questions about Telegram.
• 3:56:15
  then a few questions about uh how to create a css account i think you've answered that um there was a question on don't go to cement it's like when it's too deep i think the the video we did a couple of days ago has covered that other than that no questions here we've addressed most of the questions around telegram groups yes yes and you can discuss that um extensively so that's all
• 3:56:48
  Okay, so without further ado, maybe we should call it a day or night or whatever, morning. We've done our best. We thank our Ghanaian brothers who have come here to rub minds with us. There's so much we can do. We will sell out the IPO in two days.
• 3:57:17
  We have a much deeper market, and I'm actually wishing we could have one integrated market with all our West African brothers. That would deepen the market, increase liquidity, and give everybody to grow the region financially. So we'll continue to discuss this after we invest.
• 3:57:46
  We don't like the feedback we are getting from people. I was thinking that they had sorted out this problem because since we were trying to solve the problem and dropped all the relevant information as to where people should channel their complaints to, and I didn't get any feedback. My supposition was the problems have been solved, but apparently it looks like a lot of people still have issues.
• 3:58:17
  We might be forced to do another space focusing on ad-free invest. And yeah, we will demand, we will actually demand that, we will demand an investigation into what happened and the NGS needs to come clean as to what is happening. If not, we will see them as aiding and abetting.
• 3:58:42
  whatever is happening in the exchange. At this stage, the NGS is supposed to come out with a statement as to what really happened and as to why they have left Afrinvest off the hook. These are very serious issues. These are hard-earned money from hard-working people, and they cannot come and invest in the market, and nobody is giving them an answer.
• 3:59:11
  That's the corporate governance somebody was talking about. Everything about corporate governance in Nigeria is a problem and we need to fix up. We don't want to be part of that and that's why we don't condone it. We detest it. You can call us as being overtly critical and all that stuff, but we detest it and we will do anything to flush out those people who are frustrating people in the market.
• 3:59:39
  The market should be a level playing ground. The market should be made attractive for people to come in to invest and not a place where people think they can make means of people's hard-earned money. People work hard. The country is difficult. Things are very tough. Our Ghanaian brothers came here and were telling us inflation is 3%. Those are the kind of things we should be aiming at.
• 4:00:08
  uh sometimes instead of making life difficult or necessarily for people anyways uh favor are you ready to speak now if not i'm going to call it a day favor are you there favor you requested for the mic and i've added you to the speaker section okay all right so in the absence of nothing uh i'll leave the last word to nomin here all right uh
• 4:00:51
  thank you everyone for joining thank you elijah i don't know if kwame is still in this space but uh it's time it should be about uh midnight our crap time uh so thank you for staying on till now i will do this every sunday sometimes we run longer sometimes we run shorter but typically anywhere between three to five hours i thank you for everyone who's come up with questions
• 4:01:20
  Before we go, I'd like everyone to follow Naza. Naza is part of the Green Ticker team. I think maybe once more, what I'll do just after ending this space is to pin a tweet that contains all the handles to follow Naza. She does an amazing job on TikTok with Green Ticker handles as well as Instagram.
• 4:01:51
  So for those who spend quite a lot of time on TikTok and Instagram, go follow the Green Ticker handles there. And follow Naza as well. She's active on Twitter. Follow myself, Naza, Charles, Crypto Senko, Tokpe Adu, and everyone else. So many other people here. Too many names to mention.
• 4:02:16
  Thank you all for listening. Have yourselves a profitable week ahead. Bye, everyone. I'm still around. What can we do for you? We'll be calling you. I'd like to thank the whole Twitter NGX community for supporting the young ones to invest and showing us that it's not rocket science. It's actually possible to make money from it.
• 4:02:52
  i really appreciate everything you have been doing for us because i'm an active twitter user and like the main place i've learned that i think of about the ngx is from twitter i watch youtube yes but the end the twitter space still helps me more than anything and i'll thank the um yeah people that make videos to explanation videos also also at least for something visual
• 4:03:24
  i really appreciate it thank you thank you favor and have a good night everyone thank you