Damimola Olawuyi

Different things to different people. Pick your honey.
#natsec #avgeek #smallddemocrat #baptist

[Damimola Olawuyi @DamiEngrWriter]

A thread of my publications, interviews and contributions to the press...

[Damimola Olawuyi @DamiEngrWriter]

https://t.co/CpqdUodvqv - via @simple_flying

This is the company @elonmusk "wanted" to take over?

🤣🤣🤣🤣🤣🤣

Anyway, Happy SpaceX Day to everyone celebrating.

@Ryanair #spacex

[Nze @nzemmili]

When Obiano was building that airport at Umueri, he told us it was going to be a cargo airport to transport farm produce from Omambala to the world. A lot of us spoke heavily against it, and some even asked why the airport isn't even situated at Ọba, where it'll make sense economically.

Today, Soludo is building another airport at Ndikelionwu, he is telling us the same thing Obiano told us, which is to transport farm produce from Orumba to the world. Despite the fact that the one Obiano built is not generating income, Soludo is hell-bent on wasting Anambra money on his useless airport ambition.

[Damimola Olawuyi @DamiEngrWriter]

@cenbank should force these mobile money apps to maintain a functional web portal for when their apps decide to take a nap.

[Damimola Olawuyi @DamiEngrWriter]

@getpocketapp.

Just cancel the extended weekend for your tech team and roll back your latest update on Android. My money can't be stranded on your app.

[Damimola Olawuyi @DamiEngrWriter]

https://t.co/gPYpMNNc63

[Damimola Olawuyi @DamiEngrWriter]

18 years after it was recommended to be closed...

[Sai Ishaya @Sai_Ishaya_]

Nothing defines the story of Nigerian bureaucratic spending like discovering today that a historical, non-existent agency (formerly NEPA/PHCN) still funds a physical corporate building in Central London, with staff in it. Why are public funds still maintaining an office for an entity that was dissolved years ago?

[archivi.ng @StartArchiving]

How a cartoonist saw Nigerian politics in 2002.

Source: Newswatch

[Damimola Olawuyi @DamiEngrWriter]

@getpocketapp.

Just cancel the extended weekend for your tech team and roll back your latest update on Android. My money can't be stranded on your app.

[Crypto Senko @keanxley]

NGX vs Ecobank: A ₦627 Billion Market Cap Discrepancy Investors Cannot Ignore

So, I was discussing with the TG members during our usual Sunday session, something we have consistently hosted every Sunday since 2021, free of charge. One of the topics we discussed was why continuous dilution should never be ignored when building long-term positions in companies. As we started breaking down the banking sector, we got to @GroupEcobank. We noticed major discrepancies in the reporting of its outstanding shares compared to what @ngxgrp currently displays on its platform, which, ideally, should be the go-to and most reliable source for investors.

So, I decided to do a deeper dive.

The first screenshot is from the @ngxgrp platform, which currently shows Ecobank’s total outstanding shares at 18,155,073,977. Multiplying that by Friday’s closing price of ₦97.4/share gives a market capitalization of ₦1,768,304,205,359.80.

The second screenshot is from S&P Capital IQ, which reports Ecobank’s outstanding shares at 23,731,207,437 shares. Interestingly, the last update there was dated 1 December 2025. Using the same closing price of ₦97.4/share gives a market capitalization of ₦2,311,419,604,363.80.

The final screenshot is extracted directly from Ecobank’s Q1 2026 financial statement under Note 14, page 29. The company itself reported outstanding shares of 24,592,619,000 shares. Multiplying this by ₦97.4/share gives a market capitalization of ₦2,395,321,090,600. What shocked me even more was that the same outstanding shares figure was also reported in Q1 2025.

Now, today is a weekend, so I do not currently have access to the Bloomberg Terminal to cross-check further, but working with these three data points raises serious questions.

So, who exactly should investors believe here?

Personally, I would naturally rely on the company’s own financial statements because they are the primary source, and I should know their actual outstanding shares.

NGXGROUP Market Cap for ETI = ₦1,768,304,205,359.80
Ecobank Q1 2026 Financial Statement Market Cap = ₦2,395,321,090,600
Difference = ₦627,016,885,240.20

That difference is highly material and honestly quite alarming.

Even if we compare S&P Capital IQ with Ecobank’s reported figures, we still get a discrepancy of about ₦83.9 billion, which remains very material. Meaning even S&P Capital IQ appears to be underreporting Ecobank’s market capitalization.

Now, this becomes a serious issue if @ngxgrp is not accurately reporting something as fundamental as outstanding shares. Market capitalization is one of the most basic valuation metrics investors rely on daily. If discrepancies of this magnitude exist, then it raises broader questions around data integrity and market transparency.

What does this mean for the future of our market if basic company information is either underreported or overstated? This is 2026; these are issues we should have moved past long ago. It honestly breaks my heart because these were part of the same structural issues that contributed to market inefficiencies during the 2007/2008 era.

And Ecobank is not even the only example. Even @ngxgrp previously had issues with the reporting of its own outstanding shares at some point (although I do not know if that has now been rectified).

This is why I always encourage investors to scrutinize everything. It is not just about making money. It is also about ensuring our market institutions uphold accuracy, transparency, and investor confidence.

I drop my pen here.

[Money Africa @themoneyafrica]

The Dangote Petroleum Refinery private placement application form is out, and the details on it are worth paying attention to.

Here is what we know and what it means for you.

A private placement is the step that happens before a company officially lists on the stock exchange. Instead of opening to everyone immediately, selected investors are offered shares first, usually at a discounted price. Think of it as the early access round before the doors open to the public.

The form shows that Dangote Refinery is offering 3 billion ordinary shares at $0.35 per share, which is roughly N481 per share at today's exchange rate. The application window opened on June 1 and closed today, June 10, 2026. Vetiva Advisory Services and FirstCap are the issuing houses handling the transaction.

Now here is the number that tells the real story. Investor demand for this private placement has already crossed $2 billion before the public listing is even open. Dangote himself confirmed this. That kind of appetite from serious money tells you something about how this listing is being viewed at the highest levels.

When it opens to everyone, the listing price could land between N600 and N800 per share. That means for less than N1,000 per share, any Nigerian can own a piece of Africa's largest refinery. That is not a coincidence. It is a deliberate decision to make this listing accessible to as many people as possible.

The IPO is expected before the end of 2026. When it opens, it will not wait for anyone who is not prepared.

At Money Africa, our job is to make sure you are never caught off guard. Follow us so we can walk you through everything you need to know before this goes public.

[Damimola Olawuyi @DamiEngrWriter]

Every time I read a story about @MTNNG, my thoughts are divided as a long term shareholder (they should maximise profits) and a subscriber (they should provide value for my hard-earned money).

[Damimola Olawuyi @DamiEngrWriter]

By the way, speaking about @MTNNG, do we know when @MTNGroup is planning to carry out their second PO?

https://t.co/RBHbsuFR2U via @BusinessDayNg

@greentickertale @nazzaokonkwo @bivins1 @compoundinnaira @TomolaGroup

[Damimola Olawuyi @DamiEngrWriter]

Is it just me or was the hype from @MTNNG's 2021 IPO silent compared to the excitement surrounding @DangoteGroup refinery?

@nazzaokonkwo @bivins1 @compoundinnaira @greentickertale @TomolaGroup

[Damimola Olawuyi @DamiEngrWriter]

Is it just me or was the hype from @MTNNG's 2021 IPO silent compared to the excitement surrounding @DangoteGroup refinery?

@nazzaokonkwo @bivins1 @compoundinnaira @greentickertale @TomolaGroup

[Damimola Olawuyi @DamiEngrWriter]

Who's going to pay for it?

[Nigeria Stories @NigeriaStories]

Nigeria has officially submitted a bid to host Formula 1 Grand Prix in Abuja. This would make Nigeria 🇳🇬 the first African country to host such an event in over three decades.

[Money Quotes @MoneyQuotesX]

Avoid people who respect only rich people.

[Mohammed @Mansaah_Musa]

The largest shareholder of MTN Nigeria is MTN Group, which owns about 73.5% of the company (roughly 15.4 billion shares).

This gives MTN Group effective control over MTN Nigeria and makes it the biggest beneficiary of the company's dividends. Other shareholders own much smaller stakes in comparison.

[Damimola Olawuyi @DamiEngrWriter]

...incorporated into any history curriculum authorised by the Nigerian state. Thus those who fail to learn the lessons of history are doomed to repeat them.

[Damimola Olawuyi @DamiEngrWriter]

I have come to believe that the dismantling of most traditional and governance institutions is the unfinished work of Nigeria's independence. Especially those established or co-opted by the colonial administration. Stories like this (and others similar to it) will never be /1

[HumAngle_ @HumAngle_]

For challenging the imperial taxation and the aristocratic order of the Sokoto Caliphate, Satiru, a small community in Sokoto, northwestern Nigeria, housing poor clerics and fugitive slaves, was obliterated in 1906.

We go back in time and show how Nigeria inherited both the method and the silence.

https://t.co/9PXi7OeSla

[Naza @nazzaokonkwo]

Access Holdings has published the list of over 2,000 shareholders who are yet to claim their dividends.

If you do not want to go through the hassle of contacting a broker or registrar, simply register on the NIBSS e-DMMS Self-Service Portal

[Damimola Olawuyi @DamiEngrWriter]

@nazzaokonkwo @ieiplcng @compoundinnaira @bivins1 @greentickertale @TomolaGroup The question is, how fast will the pullback be after the allocation?

[Damimola Olawuyi @DamiEngrWriter]

@nazzaokonkwo
Can anyone explain why @ieiplcng's share price has doubled since they announced their PO? The stock was already rising before the PO was announced but it appeared to have supercharged its run since.
@compoundinnaira
@bivins1 @greentickertale @TomolaGroup

[Damimola Olawuyi @DamiEngrWriter]

https://t.co/EKPTwW1CwF - via @GeminiApp