Stock Market Tips For Nigerians

ROAD TO RECOVERY >>>>>>

Funny thing is, the world economy is primed for a recovery (happening already with some bank stocks in th UK more than double their lows this calendar year)
You know who will benefit?Those with cash and the stomach for investing. Unfortunately, I'm not in either category

www.equity-tracker.com

The market is sure on its way to recovery but investors should be very careful and take personal responsibility for their decisions above all do not put money you cannot leave for at least one year in this market. The results moving the market now are activities of last year no one knows what kind of results these companies would turn in later in the year when they would be reporting activities of 2009. My advise is that, enter the market with your two eyes open wide and be guided.

The Nigeria Stock Exchange (NSE) has delisted the following MORIBUND stocks from its daily official list:

1. Footwears & Accessories Plc

2. Ferdinand Oil Mills Plc

3. Christlieb Plc

4. Liz-Olofin & Company Plc

5. Epic Dynamic Plc

6. Oluwa Glass Company Plc

7. Aba Textile Mills Plc

8. Asaba Textile Mills Plc.

Nigerians are always on a speed lane. I always advise we take time to undersand the market. OKAY?

NSE Council urges delisted coys shareholders to hold EGM  
Peter OBIORA
Proshare NI
May 13, 2009 at 16:20 GMT
 
 The Council of the Nigerian Stock Exchange (NSE) following the delisting of nine (9) companies on its Daily Official List urged the shareholders of these companies to hold an Extraordinary General Meeting (EGM).
 
 This was contained in a Release dated May 12 2009 and signed by Mrs. Yinka Idowu General Manager/Head Corporate Affairs Department of the NSE and made available to Proshare NI in Lagos Nigeria.
 
 “The Council reminded shareholders of each of the companies that they have statutory right to convene an Extra-Ordinary General Meeting to decide what to do with the companies and their assets” the Release affirmed.
 
It was further affirmed by the Council Members that whatever decision taken at such a meeting would be binding on the Promoters and Directors of the companies.
 
As earlier reported, the Council of the NSE approved the immediate delisting of these nine companies cutting across various sectors of the Nation’s Stock Market.
 
Mrs. Josephine Igbinosun, Secretary to Council of NSE in the release asserts that the action was taken following the expiration of the time given to the affected companies to regularise their status with the NSE.
 
The companies delisted were Footwears & Accessories Plc in the Footwear Sector; Ferdinand Oil Mills Plc in the Food, Beverages & Tobacco Sector, Christlieb Plc and BCN Plc both in the Healthcare Sector.
 
Others are Liz-Olofin & Company Plc; Epic Dynamic Plc and Oluwa Glass Company Plc, all in the Industrial/Domestic Products, as well as Aba Textile Mills Plc and Asaba Textile Mills Plc both belonging to the Textiles Sector  of the Market.

Source:  http://www.proshareng.com/news/singlenews.php?id=6445

Kai! Money de yab man o. See opportunity!

R'damp,
What are you doing with all those charts and technical analysts tools,you want to be another candle lighter  ???soon we'll start hearing all those doji,dojo and mario puzzo lingos that will fail yakata when market uncertainties decide to do their thing

RisingDamp, which website are you using for your techinical analysis? I love the tools and the platform and would be glad if you can give me the link.

Awaiting your response!

@ IT GURU,
the site is :
  http://www.equity-tracker.com.
you can do a lot here,  all the comparison and analysis.
best of luck as we look forward to next week.

the bear is coming to market this week,  but will be resisted mid season. Get your acts in order and be ready for a ride. the road may be bumpy but i see a + sign and it will take us to the 30,000 mark.
ASI will ressurect again but not with a straight bang. it will surely come though it trarries.

will you join us?

Chairman, I'm not a candlestick guru so you won't hear anything about dojo or double-top or whatever from me  . I look at volume, trend, support and resistance levels only.

IT Guru, as mentioned already, the site is www.equity-tracker.com

Fraudsters hijack share dividends  

By Peter Egwuatu   
LAGOS—THERE is palpable anxiety in the nation’s capital market as fraudsters have started hijacking shareholders’ dividend warrants, a development that has caused registrars of issuing houses to warn banks against endorsing third party accounts for the payment of dividends.
Registrars who told Vanguard last week that the hijacking of dividend warrants is becoming alarming in the country advised shareholders to be careful.
Speaking exclusively with Vanguard, Managing Director of First Registrars Limited, Mr. Bayo Olugbemi, said “fraudsters are hijacking dividends generally and not that of First Bank alone. So, it is a development that affects most quoted companies.
''It is not a new thing but the magnitude is rising. Shareholders are advised to key into e-dividend initiative. Banks should also not allow dividend warrants to be paid into new accounts of less than six months. They should also ensure Know Your Customer (KYC) proper.”
Similarly, the Managing Director of Union Registrars Limited, Mr. Soji Olagunju,  advised that stringent control measures should be put in place by banks to make “diversion of other peoples' dividends very difficult. Banks should know their customers very well and allow dividends into named payees account only.”
He added that endorsement to third party accounts should be discouraged totally as this will go a long way in checkmating fraudsters.
He also advised that “shareholders should embrace the e-dividend policy for prompt and safe collection of their dividends.”
Also, a director of Valueline Securities Limited, Mr. Erem Erem, told Vanguard that the dividend warrant of one of the company’s major clients was hijacked by fraudsters in Benin-City, Edo State, recently.
Said he: “Some banks officials connived with these fraudsters to defraud investors. We are still investigating the matter. We have reported the case to the management of the bank (name withheld).
“The fraudsters target dividend warrants with large value and use it to open a fresh account and after a week or less, they withdraw the entire amount from the account.
''It is a very bad development, especially at this period that investors are being encouraged to re-enter the market. We are trying to build market confidence and some people are there damaging the market,” he added.
Erem, however, advised shareholders to be very careful with their dividend warrants.
He said: “Any shareholder who happens to change address should equally notify the registrar as well as the stockbroking firm that he or she uses. They should also patronise the e-dividend initiative.”
The e-dividend payment system automatically allows dividends to be credited directly into shareholders accounts within 24 hours of payment by the company.
Under this system, companies are to meet the obligations of dividend payments when due, and all parties involved in the implementation process are to remain dedicated and fully involved.
The Securities and Exchange Commission (SEC), had earlier stated that companies that fail to meet payment obligations immediately after their Annual General Meeting (AGM) will be sanctioned.
It would be recalled that the launch of the e-dividend initiative was as a result of the effort of stakeholders — SEC, CSCS, Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), NIBSS, stockbrokers, registrars, tax authorities, banks, issuers and shareholders associations, among others, to frontally tackle the problems of unclaimed dividends which has adversely affected confidence in the market.
Under the modalities for the e-dividend payment system, SEC had said “registrars are to collate bank accounts from shareholders. Registrars and NIBSS to prepare a standard e-dividend payment data and form which would be completed by shareholders.
Banks to authenticate the e-dividend data forms. Registrars are to submit banks’ details to NIBSS.
“NIBSS would link registrars to NIBSS server via PC, digital line and prescribed modem. Registrars to process dividend net of tax, on payment date and withholding tax paid to special account at FIRS or state Board of Internal Revenue, as the case may be,” it added.
Commenting further on the modernity of the e payment system, SEC said,  “NIBSS will further verify data integrity. They will submit the file within 24 hours to all banks in Nigeria to enable the accounts of the named e-dividend beneficiaries to be credited. Upon receipt, the banks will credit the beneficiaries’ accounts within 24 hours. NIBSS would forward a compliance report to SEC within 24 hours. Any un-applied funds (for any reason e.g. dormant account) shall be returned to the registrars within 24 hours,” it added.

 (Source:Vanguard)

These fraudsters should pity shareholders abeg. Imagine the bashing on the morale of investors in 2008 due to the economic meltdown. Infact, some guru contributors on this thread are yet to surface because there are still under the trauma .  Atleast, if not for anything, the dividends can be used to buy tombo to cool down the nerves 

    

midseason?
is this a rally or what? I thought the wave will get to the insurance stocks later but i guess i am wrong. the bullish wave got to them earlier than i thought. how long will this be sustained? no one knows,  what will after now? no one knows? but watch it? soon we'll be over-heated again!

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