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frankiriri (m)
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Hey, Bigboy and Frankiriri,
As promised I called the stockbrokers (Zenithsec. and cashcraft) and the discussions were a little fruitful. They have a 'joint account' arrangement and a 'family account' which I didnt understand too well but Zenith securities promised to send me something in my email to better understand.
Cashcraft I will have to call again tomorrow.
It is understandable that we have to register the 'organisation' but as at the last time I checked registering a business in Nigeria was not a walk in the park.
What we need is an arrangement that will protect all concerned. Maybe something everybody can sign (for now) and get up and running. I don't know how much time we have or how soon everybody wants this thing up and running but I think the sooner the better.
If we can get the stockbrokers to bear the 'organisational' burden for now while we get organised that will be beautiful.
Any arrangement that does not involve an incorporated company will not be too tidy for the type of organisation that you are thinking of. That is the reason why I have decided to use the company I iincorporated for another purpose for the investment club that I run. All I will do is to appoint the elected officers of the club as officers of the company with respect to all the transactions the company will enter in to on behalf of the club |
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Opomulero1 (m)
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@ easimoni
Finally, stay away from JAPAUL, Crusader Ins, Cornerstone ins, Transcorp, and the Access Bank PO!
Why Access Bank??? I was hoping to catch some Access when the IPO opens, but you're making me wonder now. |
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BIGBOYLARY (m)
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@Fran Good we have no time at all as anybody on Naija axis show interest if yes how many?? kindly let us have a look at the name u put up so we can go along fast on it if adopted by members to be, and let us have details info about the registration aspect,Ijogbon said he will be in Naija soon hope both will hook up, THE WORLD IS CHANGING FAST WE HAVE TO MOVE WITH TIME!!!!!!!!!!!!  |
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sharestalk (f)
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@easimoni
Thanks brother man.
I wonder whether you can help me analyse my current stocks, that is, offer advise on which you will retain and which you will keep. If you indicate a willingness I will send a private e-mail to you. Thanks again
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frankiriri (m)
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@ Bigbwoy
I have recently registered a company to offer investment services. I am also presently doing a business name registration for the club. My company is a member of the club. So It will enter into an agreement with the club for the shares to be held in its name and then it will in turn appoint the officers of the club as officials of the company with respect to all the club's transactions undertaken in its name.
On paper I have some fifty something members.
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jerrymania (m)
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@frank
I sent you a mail.
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frankiriri (m)
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I will check for it.
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easimoni (m)
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@easimoni
Thanks brother man.
I wonder whether you can help me analyse my current stocks, that is, offer advise on which you will retain and which you will keep. If you indicate a willingness I will send a private e-mail to you. Thanks again
Sure, email me on easimoni2004@yahoo.comAlso, this thread was meant for the proposed Investment club. Let's move this discussion to a more appropriate thread. http://www.nairaland.com/nigeria/topic-31554.1088.html |
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ijogbon (m)
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Hi People. Just received a reply from Zenithsec concerning opening a stockbroking account with them. I have copied and pasted the reply below. Good Morning Sir,
Am very sorry sir for not replying your mail immediately.
Concerning our last discussion,you can only operate such account if its a partnership business hence the company must be registered.Once the company is registered and you are still interested in opening the account then we can open a corporate account for you.The requirement for opening the account is as follow:
1.Certificate of incorporation (Original must be sighted).
2. MEmorandum and Articles of Association (certified true copy) by the Registrar of companies and a director of the company.
3. Board resolution appointing Zenith Securities Ltd as the company's stockbroker/fund managers and this must include names of all signatories to the account and directors of the company in attendance.This must be executed under company seal.
Thank You.
Ese. In this regard I am wondering what the next best step would be. I will still be going to Naij later this month. I have been quite busy writing some professional exams so I do apologise for not keeping the thread alive plus the stockbrokers themselves were not very quick in replying. I am wondering if going with Frankiriri is not going to be the best route IF WE INTEND TO TAKE A JOINT POSITION IN THE FIRST BANK PO. @ Frankiriri How many people do you have on board and How much has been raised? What is the minimum, average, maximum and mandatory price for inclusion in your club? What is your target for the club for the First bank PO? |
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frankiriri (m)
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I already have a company to use. I am also registering a business name for the club./ We have just concluded the election of the officers so we are going to be opening an account soon. Once all the modalities are set we will take a position in the market.
on paper I have 58 people. However the wheat will be seperated from the chaff when we start investing
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ijogbon (m)
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@Frankiriri
Good job!
OK I think you are in the right direction then.
How important is taking a position in First bank to your plans? Will you be able to conclude your arrangments before the PO is over?
See you soon.
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blackbeaut (f)
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Hi, am really interested in this, just joined this forum, would be in Nigeria till the month end, can i get an update on the whole process so far? Am interested in the Nigerian Stock.
Thanks.
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BIGBOYLARY (m)
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@ frank more details are needed pls those people have they paid what are the memos and who are d directors and a lots, @ijogbon, you did not call nawa4 u anyway i came back to london fron Ausria and news for uk and how many have join more details pls, |
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frankiriri (m)
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Hi, am really interested in this, just joined this forum, would be in Nigeria till the month end, can i get an update on the whole process so far? Am interested in the Nigerian Stock.
Thanks.
If you are interested in the Nigerian end contact me at frankiriri@yahoo.com |
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frankiriri (m)
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@Frankiriri
How much has been raised? What is the minimum, average, maximum and mandatory price for inclusion in your club? What is your target for the club for the First bank PO?
We have raised N136000 from four people, one of whom is in the US. The admission fee- for covering admistrative charges is a one - off fee of N5000 and the minimum monthly contribution for the main class of membership is N5000. Members are encouraged to pay their subcription upfront to enable us invest available balances in bulk. For the First Bank PO I expect that we should be able to do at least 10000 units |
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frankiriri (m)
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You can check for the details of the company on the club web page. I cannot post the memart here. If you send me a mail I can send you a scanned extract.
The directors of the company are Myself and three other , one of whom is a member of the club
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dollyp1cute (f)
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Frank let me get this straight, the club has been incorporated as a company right or is the club operating within the company you have set up.
I am not good with following the yahoo group message it sends me the digest but the info is mixed as i am not sure which information is recent e.t.c
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frankiriri (m)
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The club has not been registered. But my company which is also a member of the club has. And since the only way for an unregistered body to buy shares is to buy in the names of the individual members we are using the club as a proxy. the company will appoint the recently elected members of the clubs governing council as it's officers in respect of all the transactions relating to the club.
E.g we are in the process of opening accounts for the club with Intercontinental bank, so the company will appoint the officers as the signatories to that account.
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frankiriri (m)
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@ ijongbon
I am already in touch with Baggio. In fact he said he will be in the UK soon and hopes to get to see you guys. You can gist on what progress he has seen on the ground. I expect to hear from you soon/
Let us take charge of the market
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ijogbon (m)
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@bigboylary I dey very sorry jare. Na dis book book wey we dey come suffer for here. I go bell you today or tomorrow. @blackbeaut and other people in UK We need to meet or network to get ourselves organised (my email is dunhayes@yahoo.com). I will be going to naij by the end of this month so are many other people who are interested. So we can either agree to meet before we all go to Nigeria (Important if we hope to take a position in the Firstbank PO), meet in Nigeria (To gather information, get the business side sorted out (ie. link Frankiriri) and report back to people in the UK who cant be there physically) then meet back in the UK to decide which equities we will be investing in (Obviously Firstbank would not fit into this last option). This is just my view though. I will be glad to hear suggestions from you folks. |
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BIGBOYLARY (m)
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@Ijogbon and Frank This is the time for us to take up the markets it happens just like this in South Korean and its now happning life rite here for real, But wait a minute HOW MUCH HAVE WE AGREE TO PUT DOWN, WHAT IS THE MINIMUM OR MAXIMUM?,We have to know tis we are on the rite track |
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Dis Guy
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Frank let me get this straight, the club has been incorporated as a company right or is the club operating within the company you have set up.
I am not good with following the yahoo group message it sends me the digest but the info is mixed as i am not sure which information is recent e.t.c
ive been following the thread too, still dazed myself  The club has been registered. But my company which is also a member of the club has. And since the only way for an unregistered body to buy shares is to buy in the names of the individual members we are using the club as a proxy. the company will appoint the recently elected members of the clubs governing council as it's officers in respect of all the transactions relating to the club.
E.g we are in the process of opening accounts for the club with Intercontinental bank, so the company will appoint the officers as the signatories to that account.
which club? the facta non verba or betta investment club your company is a member of the investment club? is your company also the investment club or members of your company are involved with the investment club? hows the proper website going for this investment club? @ all, are you planing on joining the investment club as in drop the name 'facta non' or be one of the clubs in the 'company' like betta investment sorry guys i think im a bit dyslexic, i have my blonde moments  |
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frankiriri (m)
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ive been following the thread too, still dazed myself which club? the facta non verba or betta investment club your company is a member of the investment club? is your company also the investment club or members of your company are involved with the investment club? hows the proper website going for this investment club? @ all, are you planing on joining the investment club as in drop the name 'facta non' or be one of the clubs in the 'company' like betta investment sorry guys i think im a bit dyslexic, i have my blonde moments Opps. There was a typo highlighted in the statement in green. I have corrected. So the sentence should read better now. The club I am refering to is the Betta Investment club which I run. Yes, My investment services company is a member. Myself and another director of the company are members of the club. The club is not the company and the company is not the club. Nigerian rules require that only incoporated bodies can hold shares or any other property for any group of persons. The only ways to get around this rule is to : (1) Incorporate the club (this is different from a business name registration which is what we are pursuing for the club) (2) Buy stocks in the name of specified members (3) Buy stocks in the name of a corporate body which is also a member. It is this last option that we have adopted as it saves on the initial cost ( and stress) of registration and also enables the elected officials of the club to be in direct control of the assets of the club. |
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doyenn (m)
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your idea is brilliant but i would suggest that u buy into international shares instead of the corrupt country,everything built here is built on corrption and read me,it would not go for long. i wld suggest u contact etrade to register your club name,put in some money for them to use in buying stocks and shares,before u know it google wld be interested in buying into it and u're already a big man.dont 4get the dollar wld always go high no matte what so if you start from there things wld change. dont forget to include me in the club.let me have your decisions at usdoyin@gmail.com |
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BIGBOYLARY (m)
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@doyen Am totally disagree with you 4 a note of correction dont refer to NIGERIA as a corrupt entity its some selected views that give the bad name to the Nation not all, You just have to witdraw your statements and in this modern days of expositions you can not tell us that again kindly withdraw all your thinking and idea and see the nation on new light. We all are not corrupts!!!! anywere we find ourselfs we made through and made it to the top so WAKE UP AND BE PROUD OF YOUR MOTHERLAND. Kindly tell me were on earth we dont have bad Eggs. ane to tell you this i trade and invest internationally there is no return on EARTH has withness as its been exploded in Nigeria so what are u thinking, |
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easimoni (m)
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@ doyenn,
Sure, advise Frank and his club to invest in Enron and WorldCom instead.
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ijogbon (m)
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@Doyenn
Since when did you have more say over credibility than FITCH and STANDARD and POOR
Nigeria's economy is growing just fine thank you.
The NSE returned about 400% in the first quarter of this year alone. US indexes returned less than 10%.
Go figure.
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frankiriri (m)
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Replying doyen would be an overkill, I am already adequately spoken for I rest my case
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Dis Guy
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your idea is brilliant but i would suggest that u buy into international shares instead of the corrupt country,everything built here is built on corrption and read me,it would not go for long. two year buying shares in the uk only £2 dividen thats shucks meeeeeeen  first bank offer = 6 days to go, whats the dealio? |
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doyenn (m)
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i know that we're not all corrupt in Nigeria but watch all those company owner esp bank owners,they dont want other people to be rich like them,that was y they want to fraustrate those HYIP people out of business.It is good if we can buy into zenithbank shares and i have would find some company who can perform faster on the stock exchange.
dont forget to include me in the club mr frankiri
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doyenn (m)
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we can even contact some forex brokers and have an agreement on investment with them.that would be a better returns because the return wld be a daily thing.
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BIGBOYLARY (m)
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@doyen Yes this is wat i want to be hearing from a great mind like u about 9ja, look this is the time to take our our country destiny into our hands. we can make it happen,just assuming we have a massive impact on the market i mean we dictate the turn when we sneeze all the A-to Z, will listen, with accumulated 10billion what do u think. @dis guy Pls stop wasting your hard money investing in uk,its waste on time and synergy go to 9ja market and double your money with unimaginable return do u think its a joke John Fasanu dey 4 9ja to, |
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