According to the Nigeria Stock Exchange’s (NSE) X-compliance report for August 2017, AMCON executed a block divestment of its stake in Niger Insurance Plc amounting to 724.3 million shares in favour of Etha Ventures Limited at 0.54 kobo per share. Approval for the deal was granted by the NSE on the 21st of March 2017 with Fundvine Capital and Securities Limited acting as the stockbroker for the deal.

Who is Etha Ventures
Data from the financial statements of Niger Insurance for the year ended December 2016, showed that Niger Insurance had outstanding shares of 7,739,495,702 shares. This makes the deal a significant one as the new owner now holds 9.3% of the issued share capital of the insurance firm.

Nairametrics attempted to find out who the new owner of this significant stake was. A simple internet search yielded results that were linked to the current Imo state governor Rochas Okorocha. One search result which extensively and comprehensively detailed his credentials along with his many business interests as a form of due diligence on him in anticipation of the 2011 Gubernatorial elections, listed him as being the founder of numerous organizations, including Etha Ventures Limited. This information was culled from his CV hosted on the website www.rochasokorocha.org, which has since become defunct.

Piqued by this, more search was conducted. This led to the obtainment of a document that was published on 9th March 2015 by a financial services consulting company, further showing Owelle Rochas Okorocha as the contact person for Etha Ventures Limited, –one of its clients

Not satisfied with these results, we carried out a company search at the Corporate Affairs Commission (CAC) to find out who the directors and major shareholders of Etha Ventures Ltd are. At the first attempt, the Company’s file wasn’t found in the registry. We were told that the reasons for this could be any of the following: that another lawyer made a request for the file; the company is in caution (meaning the company is under litigation); or amendments are being made to the directors or shareholders; or it is simply lost. A search on the CAC online data base showed that the company was registered on the 20th of October 2000 with its registered address in Abuja, FCT.

READ MORE: https://nairametrics.com/reports-suggest-amcon-sold-shares-in-niger-insurance-to-rochas-okorocha/

Any evil mod(s) that tries to take this FTC from in order to give to d dude below me..... Oya eat ya faeces!

Pray!!!!


I don't even know what to type self...

Meanwhile, There shall be nothing hidden that shall not be exposed.

2nd to comment, over to u.

N

The two above me booking space rite

Okoroawusa.

Watching closely

ok

hmmmm. interesting

Thank God sale was blocked!

Selling Niger Re to Okorocha? What?

Wow

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These are the political leaders of Biafra. I pity una future o

Workers are owed up to 6 months salary in imo state.
Some are forced to accept half salary after 6 months.
Let's see how his third tenure goes through his son in law.

Interesting.....

This story does not seem to be complete or may be mixed up. Who understands the write-up with reference to the heading of the story?

.

I don't just understand what this story is about.
Is it that NSE has prevented Rocha's okorocha from acquiring the said stock, or they don't want that huge volume to be transacted in a single swoop?

If its to prevent okorocha from getting the stocks, the question then should be; is it legal to restrict certain people from investing? I thought the stock market is supposed to be free entry for all investors?

hmm

Where is Magu and his team of EFCC?

Oh I forgot Magu led EFCC mandates are to intimidating and harassing PDP members and supporters.



Zombies in and out of Aso Rock will blame GEJ's regime and PDP on this.

No be today dem dey use stolen public funds to enrich their selfish selfcentred selves

Useless politician

Martins301:
These are the political leaders of Biafra. I pity una future o

You people call him Okorocha but we call him Okorohausa.

So with your commonsense you will know where he comes from.

Hmmm



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The headline is misleading. The body of the message suggests that the shares were sold to the company allegedly owned by Okorocha.

Very disjointed and inconclusive report which aim was defeated by its shortfalls. Linked to Okorocha doesn't mean he committed a crime but the writer made it look like one.

Noted

Abagworo:
Very disjointed and inconclusive report which aim was defeated by its shortfalls. Linked to Okorocha doesn't mean he committed a crime but the writer made it look like one.

Shut up! You are eternally condemned to supporting evil. Who knows how you sleep at night.
You always sound miserable. So this is what you want in your poor miserable life, and you call it politics, but l tell you that you are spiritually dead.
Except you repent, you will be eternally alienated from our Heavenly Father.
Fallen angel like you.

Saintsbrown:
Workers are owed up to 6 months salary in imo state.
Some are forced to accept half salary after 6 months.
Let's see how his third tenure goes through his son in law.

this is fake news