Tokotaya:

The most unstable operator among all the pioneer operators is the only one with a rainbow coalition of Nigerian investors- Econet now Airtel. They were always fighting until the Nigerian investors including Ibori's Delta State, started selling out one by one. Today, that company has survived only by the grace of God. It has changed names five times, is always in court over shareholders' issues, and has been overtaken by a late starter, Glo. Etisalat who came in yesterday is getting closer to overtaking it again.  I will predict here that if that company were to be forced to list on the NSE today, those who are fuelling this mandatory listing campaign will not touch is with a barge pole, because a lingering court case from the original shareholder, Econet is still hanging in the air. The faceless people are after the stable ones, particularly MTN, so they can take it over and conclude the business of putting the entire country inside their pocket. It's a pity some people who cannot even afford to buy the shares if they are on NSE today are unwittingly fighting the battles of the filthy moneybags for them. Shame!

There is nothing to pity about. You comment is annoying to say the least. If Econet is a major company it is entitled to list with NSE. Nobody is leaving out any major company. You are the one taking this issue of a failure ground. Whenever things which need to be addressed properly come up people here keep inputting sentiment and sensitizing them.

We are in the 21st century and the need to keep records of major businesses which contribute largely to the economy is very important . This must be done at the right time and it is now. If MTN thinks it is an avenue to coerce their company to declare their asset yet there is nothing wrong about that. It is the country they are operating in.

Meanwhile people talked about the expensive cost of license procurement by the telecom here yet forget they also rip the country by making the prices for their network very expensive. The cost of the license is not an issue because they are profiting in an unimaginable margin. Would you have allowed them to purchase the license for a meager price and rip the country of huge profit? Come on, guys! We should stop patronizing what is not in our own interest.

Oceanic and Intercontinental banks were listed on the stock exchange yet the owners still raped the companies. Let those senators think of laws that will reduce corruption and other things will naturally follow.

A-ZeD:

Oceanic and Intercontinental banks were listed on the stock exchange yet the owners still violated the companies. Let those senators think of laws that will reduce corruption and other things will naturally follow.

You get the whole thing wrong. It is not about corruption but about records of major companies operating in the system. If MTN decides to be corrupt it's not in the interest of NSE to prevent them from doing so but must know that their business are trading with them. If it is their legal right to probe them for corruption charges then they can go ahead to do so. There is nothing so discriminating about this than those of you turning it into that.

all4naija:


We are in the 21st century and the need to keep records of major businesses which contribute largely to the economy is very important . This must be done at the right time and it is now. If MTN thinks it is an avenue to coerce their company to declare their asset yet there is nothing wrong about that. It is the country they are operating in.

Meanwhile people talked about the expensive cost of license procurement by the telecom here yet forget they also rip the country by making the prices for their network very expensive. The cost of the license is not an issue because they are profiting in an unimaginable margin. Would you have allowed them to purchase the license for a meager price and rip the country of huge profit? Come on, guys! We should stop patronizing what is not in our own interest.

All4naija, I thoroughly disagree with this comment. What you are advocating for is nationalisation through the back door! And if it works, it will be  setting a bad precedent. This means that if I set up Uchesco and Sons, secure foreign backing and start producing rice. If we become very profitable like Dangote, then government can force me to go to the stock exchange so that others who did not sweat can come and chop? Wrong!

What is the purpose of going to the stock exchange in the first place? The last time i checked it is to raise funds for business growth and expansion. This is done by offering shares to members of the public. If they compel all these big businesses to go to the stock exchange, it would not achieve any of the two purposes mentioned.

First of all, Shell, Etisalat, Chevron and MTN did not say they need funds to expand their business. MTN already takes loans from Nigerian banks and so they have no reason to go to the stock exchange, when they can collect loans. Unless they choose to go, and so far, none of the major companies are happy about it.

Secondly, if you choose to sell a company like Shell on the stock exchange, will you and I(the common man) be able to afford it?

With their assets/profits, Shell or MTN will probably be selling as high as 2000 naira per share if not more. How many of us can buy it, if not the big men and politicians who have stolen wealth and are looking for where to throw it?

@all4naija, this is not sentiment. Let us tell ourselves the truth. The call for mandatory listing is not for you and I. It is a plan by some other people who do not care about us, but are looking for where to throw their ill-gotten wealth.

uchesco:

All4naija, I thoroughly disagree with this comment. What you are advocating for is nationalisation through the back door! And if it works, it will be  setting a bad precedent. This means that if I set up Uchesco and Sons, secure foreign backing and start producing rice. If we become very profitable like Dangote, then government can force me to go to the stock exchange so that others who did not sweat can come and chop? Wrong!

What is the purpose of going to the stock exchange in the first place? The last time i checked it is to raise funds for business growth and expansion. This is done by offering shares to members of the public. If they compel all these big businesses to go to the stock exchange, it would not achieve any of the two purposes mentioned.

First of all, Shell, Etisalat, Chevron and MTN did not say they need funds to expand their business. MTN already takes loans from Nigerian banks and so they have no reason to go to the stock exchange, when they can collect loans. Unless they choose to go, and so far, none of the major companies are happy about it.

Secondly, if you choose to sell a company like Shell on the stock exchange, will you and I(the common man) be able to afford it?

With their assets/profits, Shell or MTN will probably be selling as high as 2000 naira per share if not more. How many of us can buy it, if not the big men and politicians who have stolen wealth and are looking for where to throw it?

@all4naija, this is not sentiment. Let us tell ourselves the truth. The call for mandatory listing is not for you and I. It is a plan by some other people who do not care about us, but are looking for where to throw their ill-gotten wealth.

If your company progresses(as in the scale of Dangote) there is reason to list it for security purposes. It is only a greedy business man who would want a major company to profit with no records as against the economy. It is surprising to know that same MTN is listed in South African stock exchange. So, there is no excuse of whatsoever to not listing with NSE.


I can see you misunderstand what stock exchange is all about in the modern world besides security, brokers of bonds, records keeping, etc, it is a network that defines the operation of the market economy of a country. Please, I still disagree with you on the line that they borrow loans from banks to finance their companies so that listing with NSE is not necessary, which, is not good for a nation of Nigeria as the major company is part of the economy that cannot be exempted.

Is it the common man who buy share in stock exchanges world wide? A modernized stock exchange with electronic network allow room for that though. You are taking this stock exchange for an avenue to procure funds living out security, records, etc. Stock exchange is just an intrinsic part of stock market and it is determined by free market system. So, there is nothing like nationalism in it as you are alluding to. The country is not taking any company from anybody or a nation.

For you information,it is not necessary to trade in SE you can do over-the-counter exchange(part of the SE business) but network is important. What is formidable in the listing with stock exchange is for a global security analysis and alert. To any nation a robust SE is a sign of good and working economy system.

I still think there is a lot of sensitization of this issue if sentiment is not the appropriate word for it.

Bros, I am learning from you, but I honestly dont understand or agree with all this grammar o,

How will listing a company on the stock exchange be in the interest of security of the country? What is my business with global security analysis and alert? You sound like a stockbroker! Make it simple!

If stock exchange is a network that defines the operations of the market economy of a country, how does that affect a private business such as uchesco and sons who is only interested in making profit?

Simply put, your explanation sounds like telling a business man to do something that will not be profitable to him(and his investors)but will be beneficial to the elite of the country.(because the poor will not benefit from this)

Yes, MTN is listed on the JSE, so is Shell, Etisalat and others. However, THEY WERE NOT FORCED TO DO SO. That is the bottom line.

Why would a government want to force them to do something they are not ready for or willing to do, for which they will not benefit from, for which the overall Nigerian public will also not benefit from, all in the name of security? Which security?

Abegi, if they want to privatise, let them start by privatising NITEL and PHCN and listing it on the Stock Exchange! At least we can buy shares there

It has been done in other parts of the world, why not here? Because they are not profitable. It is greed, I tell you, just greed!

Make I go eat, hungry dey catch me

all4naija:


Is it the common man who buy share in stock exchanges world wide? A modernized stock exchange with electronic network allow room for that though. You are taking this stock exchange for an avenue to procure funds living out security, records, etc. Stock exchange is just an intrinsic part of stock market and it is determined by free market system. So, there is nothing like nationalism in it as you are alluding to. The country is not taking any company from anybody or a nation.

All around d world, poor people are allowed to buy shares in stock exchanges if they have the money. Nationalism was practiced in Nigeria in the early 70s when govt nationalised several companies such as UAC and AP by sending them to the stock exchange. That is where all the moneybags like Danjuma bought plenty shares and became members of the board of directors.

Go and read what happened then with indigenisation decree. It was a military decision that started spoiling this country.

@titus3, why are u using my soon-to-be-established business for reference? Please don't send government after my company o!

Uchesco and sons are very interested in the operations of the market economy of a country, as long as it brings me profit. Shikena!

uchesco:

All around d world, poor people are allowed to buy shares in stock exchanges if they have the money. Nationalism was practiced in Nigeria in the early 70s when govt nationalised several companies such as UAC and AP by sending them to the stock exchange. That is where all the moneybags like Danjuma bought plenty shares and became members of the board of directors.

Go and read what happened then with indigenisation decree. It was a military decision that started spoiling this country.

That for that piece of history. On the other hand, what makes you think Nigerian case won't be different this time around? Nigeria is not under military regime. Many developed SEs world wide require major companies to be listed. Just check them up online.

titus3:

Bros, I am learning from you, but I honestly dont understand or agree with all this grammar o,

How will listing a company on the stock exchange be in the interest of security of the country? What is my business with global security analysis and alert? You sound like a stockbroker! Make it simple!

If stock exchange is a network that defines the operations of the market economy of a country, how does that affect a private business such as uchesco and sons who is only interested in making profit?

Simply put, your explanation sounds like telling a business man to do something that will not be profitable to him(and his investors)but will be beneficial to the elite of the country.(because the poor will not benefit from this)

Yes, MTN is listed on the JSE, so is Shell, Etisalat and others. However, THEY WERE NOT FORCED TO DO SO. That is the bottom line.

Why would a government want to force them to do something they are not ready for or willing to do, for which they will not benefit from, for which the overall Nigerian public will also not benefit from, all in the name of security? Which security?

Abegi, if they want to privatise, let them start by privatising NITEL and PHCN and listing it on the Stock Exchange! At least we can buy shares there

It has been done in other parts of the world, why not here? Because they are not profitable. It is greed, I tell you, just greed!

Make I go eat, hungry dey catch me

The questions you asked should have been answered prior to the start of the argument. If Nigeria must play along in the global economy it needs to do so. What makes you think only the corrupt people are going to benefit from it. It is not restricted to MTN and major companies alone. The moment it becomes part of the country routine other small companies will get use to trading with the SE and avenues for the poor or average Nigerians to get involve will become clearer.

That is an excuse to say those companies weren't forced to list with South African exchange. If that is the case, why are they not willing to do so in Nigeria? Probably, I would suggest they have skeletons in their closet. If they can list in Johannesburg there is not holding them back from listing in NSE. How are we not sure the corrupt leaders are not involved with them in the first case?

I just find out that Shell, Chevron, Elf and other major companies are already listed in the Nigerian stock exchange for long.

all4naija:

That for that piece of history. On the other hand, what makes you think Nigerian case won't be different this time around? Nigeria is not under military regime. Many developed SEs world wide require major companies to be listed. Just check them up online.

I have checked, and I havent seen any. Can you share the link?

In the meantime, I dont think they have said that they are not ready to list on the stock exchange. However, their argument is that let them do so when they are ready. Not when government wants them to. Anything other than that is nationalisation through the back door. And when you do something through the back door, then it has become corrupt.

I understand your comments about the need to support the stock exchange,but selling companies on the stock exchange will not boost the economy, if it is not properly done.

Few years ago, we all bought shares of banks through IPOs at inflated prices. Look at what has happened since then. The nationalisation i talked about is another example of what happens when you do things wrong. There are so many bad examples that we should be very careful and make sure that we get it right now.

So they should allow them to list at their own pace and time, or place diplomatic pressure on their company boards in UAE, India, South Africa and Netherlands. The Nigerian government has enough clout to get those companies to do so. However, forcing them by enacting such laws is wrong.

all4naija:

I just find out that Shell, Chevron, Elf and other major companies are already listed in the Nigerian stock exchange for long.

If that is true, then why are they adding Shell and Chevron to the list of companies?

You see the dishonesty there? That means they are only targeting companies like Airtel, Etisalat and MTN. MTN especially because it is the most profitable.

Why are they not talking about Glo? Do they know how much Mike Adenuga makes from that company? Abi he is on the Forbes list of billionaires. Why dont they force him to list since he is a home-grown company?

There are so many questions to be answered, it shows that there is no proper planning behind this.

I have said my piece. This government that can do anything whether legal or illegal to make money(such as increasing fuel prices,or reintroducing toll gates on expressways) should not be trusted at all.

Good night.

@ uchesco

Dude, you are completely lost in this issue. All major companies they said! I never saw any list of the companies by the government, though, MTN is a major company among others.

Is shares and other assets traded in the stock market not parts of the factors which influence an economy?

@ all4naija, if after reading all I have said, and after discussing with me and others on this issue, if you seriously think I am lost, then you are insulting me and you know it,

I asked you to share with me the link to your talk that stock exchanges require major companies to list. You have not done so.

Go and read BusinessDay online and check. The lawmakers and Sanusi Lamido have listed the following companies for mandatory listing - Shell, Globacom and MTN. They later added Airtel and Etisalat to the mix.  Their classification of major companies are simply telcos and shell.

This means if the transport sector becomes profitable and companies such as Ekene Dili Chukwu grow to become national players, raking in billions of naira, then they will be forced to go to the NSE, whether they are ready or not. ABC was ready to go to the stock exchange to develop its business, and it did. They have done well. Others said they are not interested, and they have chosen to stay away. It is their right, and they are also doing well. That is freedom of choice and democracy!

My point is simple. If you want them to enlist, then encourage them, dont force them. Forcing them is undemocratic. Shikena.

We are having what is supposed to be an enlightened conversation, so there is no need to turn it into insults. Dont act like what most people do when they are losing an argument. Back up your talk with facts/figures or simply hold your peace. 

^^^
Why I said that is because the corruption idea brought into it forgetting other functions of SE. I didn't mean to be rude anyway.
 
The information I provided is not from a realable source regarding the Shell and Chevron been listed on the stock exchang but total is listed according to the NSE website. I don't know anything about the businessday.com story but the NSE website would be a good reference point.

[url=http://www.nse.com.ng/Regulation/ForIssuers/Pages/Listed-Companies.aspx?Paged=TRUE&p_ID=100&PageFirstRow=101&&View={EC85F722-5620-4BBB-A355-72DC083D82D9}]http://www.nse.com.ng/Regulation/ForIssuers/Pages/Listed-Companies.aspx?Paged=TRUE&p_ID=100&PageFirstRow=101&&View={EC85F722-5620-4BBB-A355-72DC083D82D9} [/url]

Yes it is right for him to trade some of the shares if the company is big enough to qualify for a major company. It doesn't only protect the company also the owners. The rule of the NSE is that at least 20% of the shares should be sold and 10% must be set outside for Nigerian investors. That is how a business can do better. The transport business man too is buying shares from other companies. Just that greed won't allow most Nigerian business men to grasp the benefit of NSE to Nigerians.

Compulsory is not force, it is according to how it should be done. The economy environment of Nigeria require that now. We should start to develop our market now, the earlier the better so that we can play a part in the global market.

I expect the Nigerian stock market to be in some important cities in the country for a better market network.

uchesco:

@ all4naija, if after reading all I have said, and after discussing with me and others on this issue, if you seriously think I am lost, then you are insulting me and you know it,

I asked you to share with me the link to your talk that stock exchanges require major companies to list. You have not done so.

Go and read BusinessDay online and check. The lawmakers and Sanusi Lamido have listed the following companies for mandatory listing - Shell, Globacom and MTN. They later added Airtel and Etisalat to the mix.  Their classification of major companies are simply telcos and shell.

This means if the transport sector becomes profitable and companies such as Ekene Dili Chukwu grow to become national players, raking in billions of naira, then they will be forced to go to the NSE, whether they are ready or not. ABC was ready to go to the stock exchange to develop its business, and it did. They have done well. Others said they are not interested, and they have chosen to stay away. It is their right, and they are also doing well. That is freedom of choice and democracy!

My point is simple. If you want them to enlist, then encourage them, dont force them. Forcing them is undemocratic. Shikena.

We are having what is supposed to be an enlightened conversation, so there is no need to turn it into insults. Dont act like what most people do when they are losing an argument. Back up your talk with facts/figures or simply hold your peace. 

Well not by force but indegenize them ie making them sell shares to locals in % and dont 4get forieners can buy shares too,they can enlist thier company and same time Se Biz men can also buy the sahres.

erico2k2:

Well not by force but indegenize them ie making them sell shares to locals in % and dont 4get forieners can buy shares too,they can enlist thier company and same time Se Biz men can also buy the sahres.

true talk

Nigerians will never grow because we as a people support what is not right so far it favors us.

NITEL and PHCN is there, what have they done about it? They now want to force a successful company to go to the stock exchange.

OLE!!! BUNCH OF CRIMINALS

rman:

Nigerians will never grow because we as a people support what is not right so far it favors us.

NITEL and PHCN is there, what have they done about it? They now want to force a successful company to go to the stock exchange.

OLE!!! BUNCH OF CRIMINALS

now in your infinit knowledge how did you come up with this OLE theory? I dont think U ava clue of what listing in the stock exchange means or is? is Dangote not listed in the stock exchange?

Dangote as a group i.e Dangote Holdings Ltd is not listed on NSE & MTN is not listed on JSE but MTN Group Ltd.

No insult meant pls.

Smart people

I don't really know why MTN has not been listed all these while , maybe they are scared of nigerians owning a piece of this company?

erico2k2:

now in your infinit knowledge how did you come up with this OLE theory? I dont think U ava clue of what listing in the stock exchange means or is? is Dangote not listed in the stock exchange?

Please educate me on what it means.
All I am looking at is their motive. Simple.
Forget all the window dressing and all that. They are simply looking for a way to become part of what they didn't build.

Mtn is a bad company encouraged by bad people in power. Can you imagine this kind of company owned fully by Nigeria and operating in south Africa without selling it's shares publicly in their stock exchange?

we Nigeria are too soft on most of this foreign companies we need to be firm.

Reading all the comments here really make me smh... Someone says Dangote is on the stock exchange... DID THEY FORCE HIM?
We like to reap where we did not sow. Eriko says they should indigenise them and sell their shares to locals... forgetting that there are already Nigerians who own shares of MTN... These Nigerians decided to partner with South Africans and invest in an industry where other rich Nigerians were afraid to invest in.
If they had failed, no one will agree to share the loss with them. It is now that they have become successful, you think the best thing to do is to force them to share their profit with you. And all4naija has the nerve to call them greedy!


We forget so easily. This is a company that came to invest billions in an industry that many Nigerians were afraid to invest. I remember one email that used to go round saying that UBA and Zenith bank did not want to borrow them money because they thought MTN will collapse.


Look at Econet/Vodacom/Celtel/Zain/now Airtel. It is because of the plenty profit they were making that the greedy Lagos, Delta and Akwa Ibom govts and other Nigerians chased away the Zimbabweans from a business that they supported with lots of cash. Since then, has the company remained the same? Everyday, new owners, and yet they are not stable. Glo overtook them to become number 2, Econet is still chasing them in court, and I think they will only become stable when the states sell their shares. That is what happens when govt gets involved in private business... everything scatter scatter!

Listen nairalanders, i am not saying that as Dangote and Oando were forced to do similar thing as in the case of MTN in Nigeria, yes/no answers please. I have been saying it here that Nigeria is big for nothing. Nigeria lacks visionary leaders. Out NITEL was here for us before but our rulers failed to carry out full expansion programmes on it. As they charged MTN and others very high then, didn't they know that they must out perform up to the extent of MTN making over 1billion naira daily and you need to know how much taxes they pay if actually they pay. MTN and others are short-servicing us in this country in the name of rendering us the GMS services we do not have before while with NITEL, you can watch Dstv and browse full Internet without data plans all for free. Look how MultiChoice is humilating Nigerian in the name of television viewing- corruption. Unless NITEL comes back and fully operational so that full competion will be in place, MTN and others will be making their money and those that are shouting listing in the NSE will be busy for nothing still shouting. All those that brought down NITEL must be brought to book and face the music. Where are the IDD known as International thief theif? Corruption and greed deep in those that are servicing us now and the one of NITEL. For the fact that MTN is making over 1billion naira daily and if i were them, i would have being listed far back to make hell of more money instead. Should Nigeria breaks up so that corruption will die in the new countries that would be born, they are saying yes/no answers. So far as we are 'ONE NIGERIA', nothing works out in this country even in another 50 years to come. Whether MTN listed in the NSE or not, corruption is it in the present Nigeria and beyond.

My own remains, you cannot forcefully make someone to sell the shares of his company to others simply because he is making profit. I put myself in the position of the initial investors in the business at a time they were not sure it would succeed or fail. It must have been a period of anxiety. You had no idea how the people recruited to manage the business would run the it. Whether they would embezzle the money and run away, or whether Nigerians would not embrace the service, or whether the investment would simply sink. Now that they are doing well, I would resent anyone forcing me to make corporate decisions in a business he did not invest a kobo. That is not only unfair, it is greedy. Anyone who is interested in buying shares should consider the many companies looking for funds. Some have very good vision, but simply lack funds. Buy into their vision, invest in their future and make the company successful too. That is what capitalism is all about. Take risks and reap the reward of your risks if it is successful. If not, well too bad.

And to the guy talking about security, it is not the job of entrepreneurs to worry about your so called national security. His role is to deliver value and get rewarded for it. When you invite investors, you dont tell them to come and secure your country, but to come and invest, deliver value and be rewarded for it. Listing a company on the stock exchange does not make the country safer or more secure than when it is not. It is simply wrong compelling people to sell shares. It is against the very principle of free entry and free exit that stock market is noted for; if you still recall what they taught in secondary school about the stock market.