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jamace (m)
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AIICO INSURANCE PLC, AUDITED RESULT FOR THE YEAR ENDED 31ST DECEMBER 2008
GROSS WRITTEN PREMIUM 08 N7.474b, 07 N4.675b
BAD DEBTS 08 N612.895m, 07 N190.579m
PROVISION FOR DOUBTFUL INVESTMENTS 08 N389.767m, 07 N504.990m
PBTX & EXCEPTIONAL/EXTRA ORDINARY ITEMS 08 N1.572b, 07 (N186.816m)
TAXATION 08 (N948.072m)07 N491.525m
PROFIT AFTER TAXATION 08 N624.75m, 07 N304.709m
BALANCE SHEET INFORMATION
FIXED ASSETS 08 N1.939b, 07 N1.986b
STOCK 08 N3.000b, 07 N3.910b
TRADE DEBTORS 08 N1.578b, 07 N1.292b
CASH AND BANK BALANCES 08 N1.263b, 07 N758.513m
OTHER DEBIT BALANCES 08 N12.844b, 07 N5.020b
SHORT TERM BORROWINGS 08 N131.712m, 07 N347.863m
OTHER CREDIT BALANCES 08 N7.977b, 07 N6.310b
WORKING CAPITAL 08 N9.096b, 07 N1.523b
NET ASSETS 08 N12.517b, 07 N6.310b
CORPORATE ACTION PROPOSED BONUS ISSUE 1 FOR 4
AGM DATE SEPTEMBER 9 2009
CLOSURE OF REGISTER AUGUST 19TH TO 21 2009
AGM VENUE TRANSCORP HILTON HOTEL ABUJA
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otokx (m)
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Dangote is very qualified to be the president of the NSE
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candylips (m)
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very crazy choice
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naijaking1
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I like to see how he 'monopolizes' everything this time around
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islet (f)
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I just got a job with a stockbroking firm as a marketer and it is an unbelievable opportunity for me cos i come from a very poor home. It is an unbelievable opportunity to earn my keep legally with a high sense of self worth. But alas, im at crossroads cos i have actually not marketed before and i dont know how to convince people admist the economic recession that this is the right time to invest, neither do i have the links or know the rich class of people. Please if there is a marketer in stocks there ,this is an sos call. Please i need tips on convincing people on investing in stocks before i loose my job. Dont just read and ignore me. Im desperate.
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naijaking1
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I just got a job with a stockbroking firm as a marketer and it is an unbelievable opportunity for me cos i come from a very poor home. It is an unbelievable opportunity to earn my keep legally with a high sense of self worth. But alas, im at crossroads cos i have actually not marketed before and i dont know how to convince people admist the economic recession that this is the right time to invest, neither do i have the links or know the rich class of people. Please if there is a marketer in stocks there ,this is an sos call. Please i need tips on convincing people on investing in stocks before i loose my job. Dont just read and ignore me. Im desperate.
I'm not a professional "marketer", but I know a thing or two about the psychology of successful marketing. # 1. Rule. You can't convince an eskimo to buy ice from you unless you too believe that the eskimo desperately needs the ice. So, the most important point for marketing is to believe, believe, and believe in whatever you're selling. If you do, all other things would just be added as technique and methods. |
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jamace (m)
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INTERNATIONAL ENERGY INSURANCE PLC
AUDITED FINANCIAL STATEMENT FOR THE YEAR
ENDED 31ST DECEMBER 2008 PERIOD 31ST DECEMBER 2008
PROFIT AND LOSS ACCOUNT INFORMATION
2008 2007
TURNOVER N1.642b N1.229b
DIMINUTION IN INVESTMENT FOR DOUBTFUL
DEBTS EXCHANGE LOSS N582.152m N49.885m
PROFIT BEFORE TAXATION N775.405m N910.408m
TAXATION (N302.688m)(N157.806m)
PROFIT AFTER TAXATION N472.717m N752.602m
RETAINED EARNINGS N38.372m N109.248m
BALANCE SHEET INFORMATION
FIXED ASSETS N1.995b N1.886b
STOCK N10.412b N5.798b
TRADE DEBTORS N4.547b N4.315b
CASH AND BANK BALANCES N319.052m N218.141m
OTHER DEBIT BALANCES N322.500m N326.500m
SHORT TERM BORROWINGS N1.522b N52.223m
OTHER CREDIT BALANCES N6.195b N1.949b
WORKING CAPITAL N12.862b N9.371b
NET ASSETS N11.437b N10.885b
CORPORATE ACTIONS PROPOSED DIVIDEND 5 KOBO PROPOSED
BONUS ISSUE 1 FOR 6 AGM SEPTEMBER 1 2009 CLOSURE OF
REGISTER AUGUST 10 TO 14 2009 PAYMENT DATE SEPTEMBER
8 2009 AGM VENUE METROPOLITAN HOTEL MURTALA MOHAMMED
HIGHWAY CALABAR CROSS RIVERS STATE
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atilla (m)
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I also work for a stock broking firm. drop your email address so we can chat by email.
later
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maray (f)
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@ atilla,are u on yim? its been a while,i wanna ask u something on nigerian stock,thanks.
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atilla (m)
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Hi Maray
Yeah i am email me nd ill send you my yahoo email from there, if I put it on nland my inbox would be full of spam and junk email.
Take cares.
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islet (f)
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@ Naijaking1. thanks 4 d advice. so i got 2 be passionate about stockbroking before i can sucessfully market it. I have tried to get all i can by googling it but it hasnt helped much. I've also tried looking for anything on stocks in bookstores but they suddenly seem to be scarce. I wasnt really trainned by the firm just basics of stockbroking. I really wish i had someone i could ask seemingly sillly but important questions cos im naturally curious and very eager to learn. Pls if there is any e-book or anything that can help too i would appreciate it. My email ad is tyrantsalive@yahoo.com. |
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naijaking1
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@Islet Another technics is to try selling the most common/cheapest stock to someone you're familier with, eg your brothers/sister, or even kids. After you succeed or fail, you can always go back and do a self analysis of your presentation. Good luck, you can do it. Just believe  |
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segefola
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@islat,
You need to know the basic of stock market investment. In addition you should be in a position to advise your prospect on choice of stock. Somebody like me always want information from my broker to convince me on why i should buy a particular stock and in general why i should invest in stocks.
So friend be prepared on all these. I wish you good luck.
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whitelexi (m)
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The Aiico result looks pretty good, i've got some units of those from their PO last yr or so, however i wish i had more right now. . . Anyone know whether the books have been closed for the year? Can i still buy more now and be considered for this 1 for 4 bonus?
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atilla (m)
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@ Maray, Hi still waiting for your mail.
@Islet, I mailed you yesterday, hope u got it.
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jamace (m)
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The Aiico result looks pretty good, i've got some units of those from their PO last yr or so, however i wish i had more right now. . . Anyone know whether the books have been closed for the year? Can i still buy more now and be considered for this 1 for 4 bonus? Rather late. Closure of register 10 - 14 Aug 2009. |
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islet (f)
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@Naijaking, Atilla, Segefola, i know i shouldnt say i luv y'all but right now i really do! Thanks guys.
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rasputinn (m)
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Is there any danger in Dangote becoming the helmsman of the NSE?
Read between the lines vis a vis the Nova securities scam,and a resounding YES answer will stare you in the face Dangote is very qualified to be the president of the NSE
If he had any atom of dignity in him,he should have disqualified himself for obvious reasons instead of buying his way to the position and make believe as if nothing happened  very crazy choice
Very crazy indeed.It's things like this that make me remember the irony that was the logo of the now moribund national carrier;Nigeria Airways A country where elephants flew in broad daylight without anybody raising an eyebrow is capable of springing the darndest choices on earth  I like to see how he 'monopolizes' everything this time around
Your guess is as good as mine  |
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rasputinn (m)
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THE NEWLY APPOINTED CEOs OF THE FIVE BANKS
The newly-appointed chief executives tasked with steering the five banks away from troubled waters are:
Suzanne Iroche, MD/CEO Finbank Plc
Suzanne Iroche started her career with First Bank Plc in 1981 and later moved to International Merchant Bank, in 1982.
She has a Masters degree in Management from The J. L. Kellogg Graduate School of Management, Northwestern University Evanston, Illinois, USA.
In 1988 she joined Chartered Bank Ltd. as a manager to set up the Treasury Division and was later promoted to assistant general manager to head the Corporate Banking Department where she handled a diversified portfolio of companies.
In 1995, Suzanne joined the United Bank for Africa (UBA) where she managed the foreign exchange trading function and offshore investment portfolio for the bank. She rose through the ranks to become executive director on the bank's board in 2005.
In June 2006, Suzanne took on the responsibility as ED Global Bank with responsibility for supervision and expansion of the UBA's banking franchise outside Nigeria.
Olufunke Iyabo Osibodu, MD/CEO Union Bank Plc
With over 27 years of banking experience, she has been the managing director of two banks, MBC, and more recently Ecobank Nigeria Plc (2002-2006), before becoming a director in the parent holding company of Ecobank, Ecobank Transnational Incorporated, a position she left in August 2006.
Her career in banking began in 1981 when she joined NAL Merchant Bank. She moved to Continental Merchant Bank in 1984, heading the treasury department, and then held various positions including vice-president/general manager, Nigeria International Bank; managing director, MBC International Bank and managing director, Ecobank Plc.
She has been a director of ValuCard, Nigeria Interbank Settlement System, Consolidated Discount House Limited, First Securities Discount House Limited, MBC Securities Limited, and ESL Securities Limited.
Born in Lagos in 1959, Mrs. Osibodu attended Holy Child College and the the University of Ife in 1980, where she studied Economics. Funke is also an alumnus of the Harvard Business School where she obtained an MBA in Advanced Management. She has spent over 25 years in the banking industry, spending 16 years in treasury management, 15 years in senior management and 9 years as managing director/chief executive of Ecobank plc.
Until her present appointment, she was chair of Citi Investments Limited, a member of the Nigerian Stock Exchange.
Nebolisa Arah, MD/CEO Afribank Plc
"Known to friends and colleagues as the perfect gentleman, Nebo brings a unique leadership style that simply inspires and motivates," say some close to him. Until his early retirement in 2003, Nebolisah Arah served as chief executive of Fidelity Bank PLC from the inception of the bank in 1988.
John Aboh, MD/CEO Oceanic Bank Plc
Born on the 18th of July 1956, Aboh holds a B.Sc. degree in Finance and an MBA in Finance & Accounts.
A seasoned banker, Aboh began his career in 1981 at First Bank of Nigeria Plc. He also worked as credit analyst, assistant general manager and as deputy general manager & chief inspector in Nigeria Merchant Bank Limited, Nigeria International Bank (Citibank) and United Bank for Africa Plc.
Notable special projects executed by Aboh include the reorganisation of the International Operations System at Nigeria International Bank (Citibank) and the implementation of the UBA MoneyGram money transfer service.
On the 24th of January, 2008, Mr. John Aboh, an executive director (Banking Operations & Services) of First Bank of Nigeria Plc was appointed acting managing Director/chief executive of Wema Bank Plc.
Mahmud L. Alabi, MD/CEO Intercontinental Bank Plc
As at December 31, 2004, he was an executive of Union Bank of Nigeria Plc
On the 8th of September 2008, Mr. Alabi was appointed the acting managing director of Wema Bank.
Alabi took over from Mr. John Aboh, following the sack of Mr. Bisi Omoyeni by the CBN, for allegedly flouting the agreements reached with the central bank and stakeholders of the bank in the crisis that rocked the bank a couple of months before.
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rasputinn (m)
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I wonder why the CEO of Wema bank was not fired,or could it be because of the strings being pulled by Tunde Lemo at the CBN
Damn,there was and still is so much rot in our banking industry.My advise to you fellas is to steer clear of banking stocks till the overall picture of this cleansing and it's outcome becomes clearer by year end or even first quarter of 2010
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atilla (m)
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Funny enough I dont think it was wema banks current MD that caused the problems. From what i can remember it was some other guy who has been removed from the bank since and the bank is actually getting better so removing him might not be the solution and the fact he is still there might be a good thing.
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Dis Guy
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Funny enough I dont think it was wema banks current MD that caused the problems. From what i can remember it was some other guy who has been removed from the bank since and the bank is actually getting better so removing him might not be the solution and the fact he is still there might be a good thing.
true! Hope Sanusi can pull some strings to get Madam removed its about time jare!!! Rasputin are you saying Dangote is guilty and Otedola is a saint? |
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jamace (m)
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NSE places five(5) banks on full suspension
The Nigerian Stock Exchange has hereby placed the shares of the following Banks on Full Suspension:
1.) Afribank Plc
2.) Intercontinental Bank Plc
3.) Oceanic Bank Plc
4.) First Inland Bank Plc
5.) Union Bank of Nigeria Plc
The decision to put these shares on suspension was taken this morning by the NSE in order to protect shareholders investment in the companies, following the removal of their MDs and EDs.
IMPLICATION
The implication of the Full Suspension is that, no form of trading can take place on the shares of the affected Banks until the suspension is lifted. www.proshareng.comSanusi on the prowl. The changes continue. |
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rasputinn (m)
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Rasputin
are you saying Dangote is guilty and Otedola is a saint?
 Did Otedola contest that position with Dangote??? Truth be told,in more decent climes,Dangote ought to disqualify himself following the scandals that trailed him,but alas this is Nigeria where persons accused of murder can win elections from the confines of the jail cell and the reward for for fighting corruption is to be hounded into exile |
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Dis Guy
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what im saying is that dangote is being painted black like these business men are clean
some said he bought them-sec and co, are we saying otedola to couldnt buy these media houses
to do the dirty on Dangote? or perhaps Otedola cant do teh same to Dangsugar n co?
Anyway the little monies flying about will be going to the maniufacturing, insurance and construction sector soon
seems everyone is staying away from the banking sector
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