@Obalende,
Is there a particular contact or dept at GTB headquarters we can hook up with for the account?
Would be great if one can pull that off as I have high regards for GTB.

Obalende:

@Etin, All

Hi ladies and gentlemen, im back!

If anyone is interested in opening current account with GTB, please know u can do it from abroad - ring corporate headquarters and indicate interest and they will giv u instructions. I opened mine when i went to nigeria but didnt have time to pick up the chequebook + ATM but my relationship manager said I can write a letter instructing the bank to release cheque books a designated person (relative). it may not be given a formal name but its possible.

Etin, I am very interested in knowing more about an Investment Account with Citi Invest. I would be glad if you could help me out with the following queries:

1. Are BUY/SELL instructions executed the same day?
2. Any fully functional online facility or will investor rely on online CSCS monitoring?
3. How did you manage the account opening process from overseas?
4. Would you recommend them?
5. Have they met the SEC recapitalization requirements?

Will get back to you on this.

Just to tell you all precisely how I found out.

I was in naija in late 07. Went with my sister to a GTB branch in Lagos mainland - I didnt have current account in naija then (only savings with UBA).

So my sister was trying to pay my dividend warrant into her GTB account but they refused (i was with her there). she then explained that I had been abroad and that if she doesnt pay it in, I will lose it.

They still refused insisting that I could have downloaded the forms from abroad and open from abroad.

So that is the basis of my statement that GTB CAN open account for Nigerians abroad.

@ All

Concerning opening GTB account its not a special account for people abroad it just you sending your forms via email until you sort it out in person in Nigeria. This wold work for some one who plans to visit nigeria soon or goes frequently. (My husband opened one last year)

@Etin,

I recieved the Seasons Greetings card fom Diamond back yestreday - individually signed and all  . Nice, after I don yab dem finish. 

hi all,

if I open an account with a stock broker and I had bought shares but did not receive the certificate - hwever, I had received dividend warrants for the said shares and hence know my account number with the registrar of the company.

Can those shares be added by my stock broker to my portfolio without the certificate and from abroad?

@NBA,

Please , could you shed more light on Vetiva Nominee's account. I opened an account with them last week and they sent an e-mail to me telling me about their Nominee Account. How much does Nominee account cost?.

Peace.

@tonyjon

This is what I got from Vetiva when I inquired about the nominee account. I have a regular account myself.

CATEGORY 1: Vetiva Stock Broking Account – (Minimum Deposit – N1million/$10,000)



As a Client, you will exercise full discretion in the Management of your Portfolio;


Investment activities shall be carried out on client portfolios in accordance with strict instructions obtained from the client and Vetiva shall not initiate any investment activities on behalf of StockBroking clients;


Clients shall have access to Vetiva Online & Mobile Services (in line with specific terms which are laid out);


Monthly Online statements will be available to Clients on login to their accounts.

@NBA

I bought the Intercontinental shares at the 2006 PO but I have not received my certificate because I live in the UK. I want to sell the shares and my broker is saying I have to go to the Registrar to verify my signature.

How do sell your PO shares?

@All

How do you sell your Public Offer shares?
Lol

Update on Diamond Bank 5 ******

Sent an email to that a Bank draft be issued to my Stock Brokers. Diamond Reach Account product manager called me on my mobile to inform me there was abetter way; they are able to transfer the funds to the Broker Account in GTB. I sent an email requesting the transfer and providing the details of the GTB account. The next time I logged in about an hour later it had been done. Now is that 5 star customer services or what?

NB: Please note no money has been collected to say this.!!!!!! 

@ NBA

Greetings. Hope your weather isnt going crazy like ours over here. I am sure Diamond Bank would forgive for yabbing them if you send some dollars their way. I must say the Diamond Account works for me. We never did get any feed back on the other Banks - Skye, NIB etc


@Obalende

So far I have not operated on the secondary market so I am unable to give the execution times on deals. Too early to recommend. Online access coming later in the year.

Hi NBA,

Happy New-Year to each and everyone of you, and thanks to this wonderful thread started by NBA. You are God sent. After going through all these musings, I am now more interested in buying Nigerian Stocks /Shares. God bless all of you,

A few questions for the experts:
1 It seems everyone picked Vetiva, and the minimum to open an account is 1Million Naira. After the account is opened, how then are stocks bought for you.
2. Do you make the pick of stocks /shares to buy or this is done by you chosen Stockbroker?
3. For someone like me who is a complete novice regarding trading in shares/stocks, it will be very hard and difficult for me to know the upward moving shares/stocks.
4. I would prefer them do this for me
My very important question is how does this work with you "NBA" who has an account with Vetiva and for all others who also have accounts with this firm. I recently bought my first shares last year which of course were First Bank and Access Bank , and I am still waiting for their certificates. This was done through my Older brother in Nigeria. I will honestly prefer to be doing this directly by myself with a good stockbroker. Has anyone received their certificates regarding these Banks? Please fill me in if you have.

So NBA, I need you to educate us please regarding this and more.

Once again, you are a blessing to those of us that are novices when it comes to trading in shares/ stocks. And please let me know if Vetiva does all the buying/selling, and only seek your consent before and after transactions?

Wonderful thread. Guys please keep it up. It is time we start thinking about home. "EAST OR WEST, HOME IS THE BEST"

NBA, if you need my e-mail address for more details let me know

"REMEMBER THAT THE ONLY DUMB QUESTION IS THE ONE YOU WANTED TO ASK BUT DIDN’T"

GOD BLESS.

Etin:

Update on Diamond Bank 5 ******

Sent an email to that a Bank draft be issued to my Stock Brokers. Diamond Reach Account product manager called me on my mobile to inform me there was abetter way; they are able to transfer the funds to the Broker Account in GTB. I sent an email requesting the transfer and providing the details of the GTB account. The next time I logged in about an hour later it had been done. Now is that 5 star customer services or what?

NB: Please note no money has been collected to say this.!!!!!!

wow, I was about to ask you some questions about your previous post- thank you very much

one more thing though, could you have done this(inter-bank transfer) yourself online?

Etin:

Update on Diamond Bank 5 ******

Sent an email to that a Bank draft be issued to my Stock Brokers. Diamond Reach Account product manager called me on my mobile to inform me there was abetter way; they are able to transfer the funds to the Broker Account in GTB. I sent an email requesting the transfer and providing the details of the GTB account. The next time I logged in about an hour later it had been done. Now is that 5 star customer services or what?

NB: Please note no money has been collected to say this.!!!!!!  

@Etin,
Excellent update, thanks! That is definitely big if they are able to do the third party transfers to other banks. How much does this cost? They called you on your mobile in UK? Wow! I am impressed!

naijawebe:

Hi NBA,

Happy New-Year to each and everyone of you, and thanks to this wonderful thread started by NBA. You are God sent. After going through all these musings, I am now more interested in buying Nigerian Stocks /Shares. God bless all of you,

A few questions for the experts:
1 It seems everyone picked Vetiva, and the minimum to open an account is 1Million Naira. After the account is opened, how then are stocks bought for you.
2. Do you make the pick of stocks /shares to buy or this is done by you chosen Stockbroker?
3. For someone like me who is a complete novice regarding trading in shares/stocks, it will be very hard and difficult for me to know the upward moving shares/stocks.
4. I would prefer them do this for me
My very important question is how does this work with you "NBA" who has an account with Vetiva and for all others who also have accounts with this firm. I recently bought my first shares last year which of course were First Bank and Access Bank , and I am still waiting for their certificates. This was done through my Older brother in Nigeria. I will honestly prefer to be doing this directly by myself with a good stockbroker. Has anyone received their certificates regarding these Banks? Please fill me in if you have.

So NBA, I need you to educate us please regarding this and more.

Once again, you are a blessing to those of us that are novices when it comes to trading in shares/ stocks. And please let me know if Vetiva does all the buying/selling, and only seek your consent before and after transactions?

Wonderful thread. Guys please keep it up. It is time we start thinking about home. "EAST OR WEST, HOME IS THE BEST"

NBA, if you need my e-mail address for more details let me know

"REMEMBER THAT THE ONLY DUMB QUESTION IS THE ONE YOU WANTED TO ASK BUT DIDN’T"

GOD BLESS.

@naijawebe

You are very welcome to the thread. It is always nice when more people contribute by asking the questions or responding to others.

Some answers to your questions, I am sure others will add more.

A few questions for the experts:
1 It seems everyone picked Vetiva, and the minimum to open an account is 1Million Naira. After the account is opened, how then are stocks bought for you.

With Vetiva, I place my orders on-line with what to buy ir sell and at what price.

2. Do you make the pick of stocks /shares to buy or this is done by you chosen Stockbroker?

You can have an account that is managed where they make all the decisions for you. Vetiva's minimum for this is quite high, used to be 10 Mil, not sure what it is now or if you can negotiate this.
Most folks go with the regular stockbroking account. They make daily stock recommendations and I combine that with research from other sources, most important of them, for me, is the StockMarktet Tips for Nigerians https://www.nairaland.com/nigeria/topic-31554.0.html

3. For someone like me who is a complete novice regarding trading in shares/stocks, it will be very hard and difficult for me to know the upward moving shares/stocks.
Go through the link above and others I use include:
http://www.stockmarketnigeria.com/forums/
http://www.proshareng.com/index.php

4. I would prefer them do this for me
You will need a managed account or invest in mutual funds.

My very important question is how does this work with you "NBA" who has an account with Vetiva and for all others who also have accounts with this firm. I recently bought my first shares last year which of course were First Bank and Access Bank , and I am still waiting for their certificates. This was done through my Older brother in Nigeria. I will honestly prefer to be doing this directly by myself with a good stockbroker. Has anyone received their certificates regarding these Banks? Please fill me in if you have.

I opened my account with Vetiva with the First Bank PO. I completed the PO form and mailed it to them. They credited my request as outsanding shares in my on-line account so I am able to keep track of my PO's this way. I also use their address for all PO's. The First Bank PO's have not been credited to my account to date but the refund was sent to Vetiva and the ammount was credited to my balance. This has been very very convinient for me.

Dis Guy:

wow, I was about to ask you some questions about your previous post- thank you very much

one more thing though, could you have done this(inter-bank transfer) yourself online?

There is a link for third party transfer and to request a bank draft online. I may have been able to do it but I could not complete the mandatory fields. The charge was between 1.5 and 2% I don't have the exact figures now.

@NBA

Eventually, I am fed up with UBAS after 7 weeks.

I know you are with vetiva. u fit introduce me to them abeg. I wan change my broker ohhhh. I am being asked to send a reminder of a purchase order after 3 days, which means they didnt even bother to look at it.

What is your honest appraisal of vetiva in terms sell / purchase mandate execution?

Please get back to me. Anything you dont want to put in the public domain then pls send to jazzyjay6789 at hotmail dot com

Other users of Vetiva please feel free to chip in.

bigjay01:

@NBA

Eventually, I am fed up with UBAS after 7 weeks.

I know you are with vetiva. u fit introduce me to them abeg. I wan change my broker ohhhh. I am being asked to send a reminder of a purchase order after 3 days, which means they didnt even bother to look at it.

What is your honest appraisal of vetiva in terms sell / purchase mandate execution?

Please get back to me. Anything you don't want to put in the public domain then please send to jazzyjay6789 at hotmail dot com

Other users of Vetiva please feel free to chip in.

No problem, I will send you an email. I did not fund the UBA stockbroking account after all the horror stories. Seems like the NRN product is detached from the UBA naija mentality - there is a long thread complaining about UBA - https://www.nairaland.com/nigeria/topic-104490.0.html

Vetiva has always been same day execution since I joined. If an order is not executed, usually because of the price limit I set or scarcity, I always get an email same day stating the reason.

Others with Vetiva please comment O! I don promote them tire for free .

@NBA

I have sent u an email. Pls advice me on how to get the forms. I wan open an A/C sharp sharp.

Etin:

Update on Diamond Bank 5 ******

Sent an email to that a Bank draft be issued to my Stock Brokers. Diamond Reach Account product manager called me on my mobile to inform me there was abetter way; they are able to transfer the funds to the Broker Account in GTB. I sent an email requesting the transfer and providing the details of the GTB account. The next time I logged in about an hour later it had been done. Now is that 5 star customer services or what?

NB: Please note no money has been collected to say this.!!!!!!

@ Etin

How do you get to fund your diamond account?

I tried online transfer from my UK account to UBA account with Deusche Bank but is is taking a long time to get through. I am having doubts doing the same with Diamond.

@Manjiro

Happy New year.
Concerning funding the Diamond Account. I have set up Diamond as a bill payment with my online banking. Whenever I need to transfer I just pay the bill and the funds get to my account. Its pretty much the same way as the initial funding of the account.

@NBA , NAIJADR, ManJIMO and all other UBA Followers
I'm in the process of funding an account with UBA NRN( that took almost 5 weeks) through my european online bank account as if it were paying a normal utility bill etc. I cant seem to get all that info (SWIFT etc) below down to 140 charachters which is the maximum allowed for my online transfer webpage?

First of all: Why isnt there an account number for Deutschebank(DB)?
2ndly:I can use IBAN only so whats the IBAN for Deustchebank(DB)?
3rdly:Am I supposed to transfer to UBA PLC directly using the provided IBAN, and thereby ignore the DB Details
4thly Am I tranferring directly toSWIFT CODE: DEUTDEFF or UNAFNGLA

Below are the SWIFT DETAILS UBANRN sent me yesterday.
Could you confirm that these are the same details you received?


PAY: DEUTSCHE BANK AG
FRANKFURTH AM MAIN DE.
SWIFT CODE: DEUTDEFF

FOR CREDIT TO: UNITED BANK FOR AFRICA PLC
SWIFT CODE: UNAFNGLA
ACCT NO: 95570910000
IBAN: DE20 5007 0010 0955709100

FOR FURTHER CREDIT TO: CUSTOMER’S ACCT NO:
CUSTOMER’S NAME
CUSTOMER’S BARNCH


In my case: Savings Account 419419419123
Dr. Ron Paul
Which Branch Name abeg, ?Marina Lagos NRN Branch

Anxioulsy awaiting response.

@Some who are probably asking "why is this fool still opening with UBA after all that bad press". Well I have my reasons.

Thank you

Teenom, where are you? I think you said Sweden?

@bjluv
Germany, Wanted to move to Goteburg but opted out!

Oh I see---was about to say that you cant use the UBAremit from here but sending money to the Deutche bank should do just fine. Remember to input the IBAN or then SWIFT/BIC code

@Teenom

I always use Marina, Lagos as the Branch.

Per the transfer instructions, check with UBA if the money can go to your savings. With international wire it usually would go to a domiciliary account.

Teenom:



@NBA , NAIJADR, ManJIMO and all other UBA Followers
I'm in the process of funding an account with UBA NRN( that took almost 5 weeks) through my european online bank account as if it were paying a normal utility bill etc. I can't seem to get all that info (SWIFT etc) below down to 140 charachters which is the maximum allowed for my online transfer webpage?

First of all: Why isnt there an account number for Deutschebank(DB)?
2ndly:I can use IBAN only so whats the IBAN for Deustchebank(DB)?
3rdly:Am I supposed to transfer to UBA PLC directly using the provided IBAN, and thereby ignore the DB Details
4thly Am I tranferring directly toSWIFT CODE: DEUTDEFF or UNAFNGLA

Below are the SWIFT DETAILS UBANRN sent me yesterday.
Could you confirm that these are the same details you received?


PAY: DEUTSCHE BANK AG
FRANKFURTH AM MAIN DE.
SWIFT CODE: DEUTDEFF

FOR CREDIT TO: UNITED BANK FOR AFRICA PLC
SWIFT CODE: UNAFNGLA
ACCT NO: 95570910000
IBAN: DE20 5007 0010 0955709100

FOR FURTHER CREDIT TO: CUSTOMER’S ACCT NO:
CUSTOMER’S NAME
CUSTOMER’S BARNCH


In my case: Savings Account 419419419123
Dr. Ron Paul
Which Branch Name abeg, ?Marina Lagos NRN Branch

Anxioulsy awaiting response.

@Some who are probably asking "why is this fool still opening with UBA after all that bad press". Well I have my reasons.

Thank you

@ Teenon,

I would advise you to avoid this online transfer to UBA through Deusche Bank for now or use a small amount of money as a test run.

I did a test run on 26th/nov/2007: the money is still yet to be credited to my account. I have being in contact with my RM but no good result yet. UBA Remit is the other option but the exchange rate is too low.

I think the swift transfer can only be done if you call the bank or go there yourself. The money goes into a UBA account (95570910000) in deusche bank.

If the free online transfer is effective, it is going to reduce the patronage of the UBA Remit. Is this why there is difficulty sending money online from your UK account?

If anybody has done this successfully please comment?

@ Etin

Happy new year too.

How long does it take to get into your account?

@Etin.

Is this the link for the Citi Invest (http://www.citiinvestcap.com/) thing you talked about that the opening is 100k? How is their service? Any direct contact to their offices? How is their buy and sell times-are orders executed in time?

I am thinking of going the Diamond Bank way for now since I am not probably possible to go to naija this year to go and iron-out issues with GTB and UBA. Please you said it is possible to transfer to another account with the help of the relationship manager. I guess it was to GTB? Well if I can do that on my own, then it is better as long as the charges are not high

@ all is Oceanic banks NID any good?
http://www.oceanicbanknigeria.com/nid/

diamond securities has got quite an impressive website and I think I have to go their way with the Reach account. Now do they have any minimum too?

http://diamondsecuritiesltd.com/index.php

Man Jiro:

I recently opened an account with Oceanic Bank. The opening process if faster than Diamond Bank but slower than UBA. They have an account with Deutsche Bank for transfer purposes. Hope their rate is better than UBA.

Their online banking is presently view only due a rectification being carried out. They hope to resolve it soon though.

Is Oceanic any good for you please Manjiro as in, their online banking and all. Is it in full function? My old man keep telling me that I should use Oceanic and not DiamondBank but I have already opened DiamondReach today and it is now waiting time to know when I will even get the account number and the starter's package!

Did you (DiamondReach account owners) get any email immediately you registered and uploaded the scanned documents?

bjluv:

Is Oceanic any good for you please Manjiro as in, their online banking and all. Is it in full function? My old man keep telling me that I should use Oceanic and not DiamondBank but I have already opened DiamondReach today and it is now waiting time to know when I will even get the account number and the starter's package!

Did you (DiamondReach account owners) get any email immediately you registered and uploaded the scanned documents?

i had to email them, you are meant to receive some sort of confirmation automatically so you can proceed, but mine didnt come so i called then emailed it to diamondreach@diamondbank, diamondcare@diamondbank and three other emails so they can forward it to the office in charge and voilà I got a reply-yesterday