Stock Market Tips For Nigerians

This Beta just did a small wema on me. They come unleash Q1 next day to save their ass. But i still won't buy.I still suspect a short term move.

@ dbenzd

  Lets hope these are good signs for the market.

I am hoping the banks will save the day and bring the bulls back. They are usually the 1st people to start disbursing Federal funds and typically know when cash is about to hit the market.

Let's keep our fingers crossed.

On the sad side wetin person fit do with ABC, Niwicable and dunlop. I carry my 2 left enter with small cash though but it will take a year's bull run to recover my losses. What are your thots? Our mutual broker no gree me sell Dunlop and niwicable. He keeps saying things go beta.

Even my second broker for Lead Capital ask me that question. Na pressure I use take buy those things with Sanusi. E be like say e no forgive me sef since dat time. But I go commot by God's grace. No buyer for Niwicable. Na bonus push me go ABC. Dunlop I think say e don bottom out reach when I buy. I no know say d this no een get support at all.


No worries though, you learn everyday. Na small cash dey there but like Aktopgun go talk " every little helps". Na dem be d only fundamentaless stocks for my portfolio.

I read in the paper that Ecobank has stopped merger plans with sterling bank after eight  months.

do you think it is a good buy now since its still penny

Abeg be careful with STARCOMMS OOO. The hype is too much. same with Food Concept!!!

Well, the return money for food concept na baba!!!

@ All,



Na why I dey shout sey make people buy Zenith PO. She dem don see wetin person be dey see then.  33 billion PAT.

Them don buy some banks as at last year and even for this year, them don buy banks like spring, sterling, etc.

Chei,

Jim the Dream Ovia.

Na you biko

Threaten to report them to SEC. Infact if I were you, I will do that immediately or give them an ultimatum.

What rubbish. These stockbrokers keep doing the same thing over and over again.

Eterna has been rising but I don't know for how long. If you can get your money now, take it and move elsewhere. I am sure there a better oppourtunities.

My 2 cents.

SEC suspends 40 operators, drags 13 to EFCC   
Written by Leon Usigbe & Tordue Salem     
Vanguard ,Wednesday, 07 May 2008 

THE Director-General of The Securities & Exchange Commission (SEC), Mallam Musa Al-Faki, yesterday told Capital Market and Banking and Currency Committees of the House of Representatives that 40 of stock market operators were suspended by the commission for sharp practices.
While 13 others with more serious offences were referred to the Economic and Financial Crimes Commission (EFCC).

The Reps are investigating the delay in the issuance of share purchase certificates by banks, the ever-piling unclaimed dividends and depositors’ funds trapped in distressed banks among other things.

The commission’s decision is coming on the heels of increase in unclaimed dividends of shareholders which has risen to N12,830,584,780.94 in February this year against the N9,329,207,291.12 as at December 2007.

The D-G also admitted that the SEC lacked competence to exercise control on companies going for IPO as there was no law covering such. He said the SEC law needed to be strengthened to give the commission the enabling power to exercise control on companies.

Al-Faki  said fines and penalties were imposed on various operators during the year for breaches ranging from late rendition of returns and submission of inaccurate returns, adding that the premises of four companies that engaged in illegal capital market operation were also sealed off within the same period while the bank accounts of 37 illegal fund managers operating in different parts of the country were frozen.

Operators referred to EFCC

Operators referred to the EFCC include Riverside Trust Limited, MBA Security Limited, Morgan Trust an & Asset Management Ltd Plc, UAC Plc & Michael Adegbusi, former MD/CEO of Transglobe Investment & Finance Ltd, Wilberforce Onwuka, Akitorch Securities Ltd and Halsec Finance Ltd.

Others are Golden Guinea Breweries Ltd, Nospecto Oil & Gas Ltd, Beachgrove Securities & Investment Ltd, Asset Plus Securities Ltd, ET & T Stockbrokers Ltd and Bonkolans Investment Ltd.

Operators referred to Police

Those already referred to the Police by the Enforcement Division of the Commission include ET & T Stockbrokers Limited, Akitorch Securities Limited, Asset Plus Securities Limited, Eagle Stockbrokers Limited, Royal Trust Limited and unregistered capital market operators in Ilorin, Gombe, Minna, Aba, Kaduna and Uyo.

Others who have also been referred to the police are Thomas Kingsley Securities Limited and Chief Kingsley Ikpe, Egbune Fredrick Jibrin VS John Nsofor of GilJohn Investment Limited Espphil Investment & Trust Limited and Mr. Philip Owoseni and Philip Aduma VS Stakeholders Limited.

The four companies sealed are Tripple “S” Stockbrokers Limited, CBS Chart International Limited Exceed and Rewards Asset Management Limited and Divine Harvest International Limited.

37 illegal fund managers uncovered

Al-Faki said the Enforcement Division discovered 37 illegal funds managers operating in Lagos, Ibadan and Port Harcourt and obtained orders from IST to freeze the bank accounts of the companies.

Dealing licenses of Viva Securities Limited, Beachgrove Securities Limited, Asset Plus Limited, Riverside Securities Limited, Akitorch Securities Limited, Morgan Trust & Asset Management Limited and Jenkins Limited have been revoked by the commission.

For the Investigation Division, Al-Faki said 1,220 cases were investigated against stockbrokers and 1,876 against Registrars.

He added that the Investigation Division also received 4,739 special complaints on non-receipt of shares certificates and resolved 993 cases.

But he said the commission had 2,103 pending cases excluding special complaints being handled by a committee on non-receipt of share certificates and return monies.

The Director-General who emphasised the cooperation of the EFCC with the Commission said a total  294,985 money laundering transaction reports were forwarded to the EFCC while the SEC receives an average of five complaints per day.

Al-Faki said the Administrative Proceeding Division (APD) of the commission also decided on the financial misstatements of Cadbury accounts (2002-2004) on March 27 and 28 this year where all parties penalised were given 21 days to comply with the decision.

Similarly, the commission decided on the case of cloning and illegal sale of Nestle Nigeria Plc and Unilever Nigeria Plc shares by a syndicate group of stock brokers led by Brokolans Investments and Securities Limited.

The DG said there was no law to control companies from proceeding on public offers. “We are biting more than we can chew because we are in a sensitive sector but we are collaborating to enforce sanctions but I don’t have monopoly of wisdom and we are learning everyday,” he said.

The Committee Chairman, Mr Aliyu Wada said: “SEC should assert its authority and allow other agencies to take off from there. You are empowered to regulate the market and sanction any erring company.”

The committee then asked him to put in writing what the commission will do about Oceanic Bank and Bank PHB over unclaimed dividends and non-compliance with the law that stipulates issuance of dividend warrants one months after AGM which Oceanic Bank had flouted.


Vanguard 07/05/2008

Fatherof2, I still have hope in SEC. You are right though, try to get Trade Alert!

The SEC suspension of some operators should serve as a slight deterrent for them. See if you can speak to the MD or someone on the mgt team and tell them what you intend to if they do not reverse  it.

I don't think that anyone on the mgt team will treat it with levity.

By the way, always let us know which Stockbroker it is so we can all know how to thread.

@sweetcheek, you need to register through your broker to log in to CSCS. I did that in February and now have access to the site. It is 2,500 naira only.

@debenz, thanks for that, will contact my broker soon to be able to use the cscs website

did Zenith Bank credit cscs accounts or post out certificates??,  cos dat go determine when the dysentry go start, 

Spoke with someone at Zenith. He kept saying their price will not drop lower than 44-45. He kept insisting that their end of yr is next month. So d urge to sell may not be there 4 a number of people. Me I no agree that one. Most people just want to take what they can get after the bear season don shoe people.


I know they are d baba in managing prices so I won't be surprised it does not go below 44. I really wonder how they do it.

Intercontinental is another one that has kept its head above water.

NB Plc increases dividend payout by 108% in 2007 FYE

-set to give investors N2.50 Kobo

May 05, 2008 at 16:19 GMT



Foremost Nigerian brewing company, Nigerian Breweries Plc, (NB PLC) has increased its dividend payout by 108.33 percent as it has proposed to give investors a N2.50 Kobo per share dividend in the 2007 Financial Year End (FYE).



Michael Herkemij, Managing Director/Chief Executive Officer (MD/CEO) of the company confirmed this today in Lagos Nigeria at the company’s presentation of “Facts behind the Figures” at the Floors of the Nigerian Stock Exchange (NSE).



The company gave investors N1.20 Kobo dividend payout for the 2006 FYE compared to the N2.50 Kobo proposed for the 2007 FYE indicating a 108.33 percent increase.



Nigerian Breweries having paid an interim dividend of N4.159 billion; at 55 Kobo per share in October, 2007 and proposed another N18.906 billion at 195 Kobo per 50 Kobo share; therefore,  total dividend for the year would be N2.50 Kobo per share.



If the proposed dividend is approved at the 62nd Annual General Meeting (AGM) of the company coming up on May 28, 2008, dividend warrants will be posted on May 29, 2008 to all shareholders whose names appear in the Company’s Register of Members at the close of business on April 14, 2008.



A review of performance of the company in the period under review shows that NB Plc recorded an unprecedented Turnover of N111.75 billion in year 2007 compared to N86.32 billion recorded in year 2006 indicating an increase of 29 percent.



Profit before Tax (PBT) of the company grew from N16.44 billion in 2006 to N27.88 billion in year 2007 showing a growth of 70 percent. While Profit after Tax (PAT) in the period under review rose from N10.90 billion in year 2006 to N18.94 billion in year 2007 indicating a rise of 74 percent.



In the same vein, Operating Profit of NB Plc also increased from N16.95 billion in year 2006 to N27.36 billion representing an increase of 61 percent in the period under review


Proshare NI

ZENITH BANK PLC. UNAUDITED Q3 RESULT FOR THE PERIOD ENDED 31 MAR 2008


PAT in excess of 33 Billion naira (for Q3?)
 

@ Wanajo,

I asked you for 4da info on the fund your broker is floating for the starcomms PP,still waiting for your response