@bigboylary and @chexxy can u guys hint us (da novice in da house) what this pension stuffs is all about thank you SIRS

@chexxy and all,

This is the time to be ALIVE and live in a great Country full of honey and milk, i swear this is the time to be in 9JA 4 real:

MONEY: PENSION FUND, IT SHALL BLOW UP THE MARKET COMING SOON WITH LOADS OF UPDATE GET SET TO MAKE MONEY, MORE MONEY NO WONDER MY CRYSTAL BALL TELLS ME THAT THE RATE OF INVESTMENTS RETURN IN NIGERIA WILL BE THE HIGHEST IN THE WORLD TILL 2099.

@ chexxy,

Just try and read this informations:
National contributory pension scheme since its inception in June 2004, stands at about N70 billion ($538 million).

In addition to this amount, there is also a further N45 billion ($346 million) in public sector pensions funds currently held temporarily by the Central Bank of Nigeria (CBN), pending verification of the record of the account owners (civil servants with unclear employment records).

The amount is expected to be remitted to the Pension Fund Administrators (PFAs) for management as soon as the records of the owners were properly reconciled.

At present, there is an estimated inflow of about N5 billion ($38 million) per month in new pension assets to the PFAs. This amount is expected to increase to between N6 billion ($46 million) and N7 billion ($53 million) monthly by the end of 2007 as more private sector employers begin to comply with PENCOM regulations and remit funds to PFAs, he said.

All these figures present an evaluation of the level of liquidity in the stocks of the Top 50 and also describe the current size and distribution of pension assets in Nigeria. "The objective is to analyse the current level of liquidity of these Top 50 stocks, while attempting to measure the impact of the recent (and substantial) inflow of pension assets on market liquidity", and smelling of big money,kudi,ego,owo its waiting to blow up the market.

easimoni:

FY EPS is expected to be >15k. They have also signed a number of contracts with Tinapa, Ghana, Lagos State e.t.c. Should soon start reaping the benefits of the terminal upgrades.

easimoni! , easimoni!! , easimoni!! , how many times did i call ur name ? you dey try me oooh

@easimoni, psytarry and gurus,

How does BASIC FUNDAMENTALS VS TECHNICAL analysis help in a "corrupt" prone environment like ours?

With all I ve read, basic fundamentals are quite tricky, and Technical analysis could be staged rumors.

Using P/E as an exampleP/E=Share value/EPS).
Depending on how earnings are calculated you can get up to 4 different forms of EPS, which can be used to get 4 different P/E 's. for THE SAME company, if they so desire.
A company can legitimately report ANY one it desires to the press, and even manipulate the main "Reported EPS" sent to SEC. .

Also, you could have diluted EPS, whereby the outstanding shares has been stretched to a larger value.

A lot can be legitimately manipulated:
-hiding expenses under non recurring expense so as to exclude it while calc. earnings.
-including one-off profitable event as if it is an ongoing income just to spike up the earnings.
-expenses hiding under "unusual expenses" and excluded in earning calc.
, etc.

And all these are all legitimate!
Basically, the game is to increase/decrease the numerator/denominator.

There are other ratios and ways to check a lot of things, but you had better be a serious "effico", or an accountant/degreed analyst , etc

e no easi o!!

cheexy:

@BIGBOYLARY
I think i read this same thing on stockswatch for this week. Is that your crystal ball?

You don't need to read about this from any publication.

How do banks, finance houses and insurance companies make their money anyway? The PFAs are merely joining the fray to further increase the amount of liquidity in the system chasing relatively fewer stocks.

Afterall, what other investment instruments in Nigeria give the kind of returns available in the Nigerian capital market? NONE!

Simple law of supply and demand. Market forces at work!

That's why the NSE has already experienced the growth of the whole of 2006 in just a few months.

NSE suspends 50 stockbroking firms
Posted Thursday, June 21, 2007
The Nigerian Stock Exchange (NSE) yesterday suspended indefinitely 50 stockbroking firms for unwholesome practice in the sale of 400 million shares of NASCON Plc. Dr Ndi Okereke-Onyiuke, Director-General of the NSE, who broke the news in Lagos did not mention the affected members.

Unconfirmed reports equally alledged that about 200m units of the shares were reserved for 'interested parties' and could have been the reason why these firms were suspended.

It will be recalled that NASCON shares of about 400m units were offered for sale on 1 day - Friday 15th June 2007 because of the rule that no one person can own 75% of a listed company. Thus Dangote Industries had to give up some of its shares to comply.

I CAN IMAGINE CASH CRAFT WILL BE ONE OF THEM.

50 not even two or three why dont these people ever do things right

What i am still trying to find out is the stockbrokers on the list, i mean if mine is one them, then am i going to suffer the consequences i.e not being able to buy or sell.

hello, dollyp

i hope my broker got the nASCON cos i kinda ordered late

Tmoni.

Don't even talk about the NASCON, i missed the action cos i travelled

sorrey,
i dnt know if i even got it,
hv nt called my broker to find out, been a lil busy,

@all

Has anyone managed to secure a list of the suspended stockbrokers?

It's been a long time coming. I wondered why it took NSE so long to act. Heaven knows when our regulatory authorities will start to be proactive rather than reactive. Even hawkers on the street were aware of it; the malpractice coupled with bad services were beyond belief. I hope NSE will make scapegoat of these entities by dealing with them severely in order to stamp these plague once and for all.

However, when two elephant fights, we all know who suffers.

Thank God NSE, is doing a big brother role, at least trying.

I placed my NASCON mandate last week Wednesday evening as soon as i heard about the offer with my so called big broker - Zenith Securities.
Only to be told that my mandate did not go through - my other friends in other brokers that i even alerted got something.

I got nada - i would not be surprised, if they are one of the 50 suspended.

@ dollyp1cute and ALL,
if anyone finds a list of the affected companies, please post it. It's a shame, really.

@ oxytech,
the standard way to report EPS (and therefore PE) is "trailing": the EPS over the last 4 quarters. It is the way most Nigeria brokers calculate it. When I'm trying to make an investment decision, I look at forward EPS, which takes into account results to be released over my investment horizon (usually 6 mos to 1 yr). That's why I bought WAPCO at N20 last year. You also need to figure in additional shares to be listed in that horizon; Intercontinental EPS is going to drop by half (and double PE) when they list an extra 10B shares in the next few months.

A common mistakes brokers make is to not figure in additional shares when a stock is split. My advice is to maintain a database of company results and outstanding shares and learn to calculate your own EPS and PE anyway you want.

No comment of TA except that you are right; it is often easily affected by rumors and insider knowledge.

BGL Securities or Vetiva as a Stockbroker? Please pick one and why?

Panadol:

BGL Securities or Vetiva as a Stockbroker? Please pick one and why?

I've been thinking about switching to Vetiva. I love the website and have met a few people who work there. They have a young (and hopefully dynamic) staff.

@easimoni

What's the name of your current stockbroker? Why are you thinking about switching?

More gists on suspended stockbrokers.


NSE SUSPENDS 50 STOCKBROKING FIRMS

Following the special sales of the shares of National Salt company of Nigeria (NASCON) last week by the NSE, the NSE declared that it has suspended fifty stockbroking firmS for going contrary to its laid down procedures guiding the conduct of the sale.

The DG of the NSE Dr. Ndi-Okereke made this statement in Lagos yesterday and noted that the stockbroking houses flouted the directives of the NSE by purchasing shares of the company above what was allocated to them.

According to her, "the stockbroking houses were given enough time to present their bids and some of them responded.  We later did an allotment analysing the bid received and alloting shares to the various  dealing houses based on their bids.  We later discovered that some who did not bid went on and put in orders for the purchase of the shares while some purchased above the amount allotted to them".

She disclosed that these actions by the stockbrokers caused a lot of problem to it, damaging its system and making it to invite software vendors from abroad to rectify the fault.  Okereke did not give the names of the stockbroking firms but stated that they have been suspended from trading for one week and there entire purchase on the stock have been cancelled, adding that this will serve as a deterrent to others.

Culled from VANGUARD, THURSDAY, JUNE 21, 2007 pp 21.

@ ALL

                                   AS I OPEN MY CRYSTALL BALL I SEE BEFORE ME:

                                   ENGINEERING FORUM OF NIGERIANS (EFN)
                                          4th Annual EFN Spring Event
                                 Investment and Development Opportunities in Nigeria

                                           Saturday 23rd June 2007
                                               11:00am – 5:30pm

                                              Venue:
                              Platinum Suite, Excel Centre
                               Royal Victoria Docks
                               London E16 1XL

                              Keynote Speaker:

                             Dr (Mrs) Ndi Okereke-Onyiuke
                          Director General-The Nigeria Stock Exchange

The event will open at 11:00 am with exhibitions and workshops from the participating organisations.

 There will be opportunities for one-to-one discussion on investment in the Nigeria Stock market, buying properties in
Nigeria and available mortgage facilities. You will also be able to hear about opportunities on the construction of the
new Lagos to Kano Railway by the Chinese contractors CCECC and meet the project contractors. The seminars will take
place between 2:00 and 5:00pm and will be followed by a reception.

                                                   Exhibition and Investment Workshops from 11:00 am

                                                   Seminars 2:00 – 5:00pm





                                                  Participating Organisations:
                                               
                                                     
                                                    The Nigeria Stock Exchange (NSE)
                                                     
                                                    First Bank of Nigeria (UK)
                                                     
                                                    Lagos Building Investment Company (LBIC)
                                                     
                                                    China Civil Engineering Construction Company (CCECC)
                                                     
                                                    Nigeria and UK based Investment and Mortgage organisations
                                                   
                                                     Eddy'O'Civil Engineering
                                                       
                                                    KAO Project Solutions
                                                     
                                                   AfricaRecruit/FindajobinAfrica.com
                                                     
                                                  Pivot Engineering/Honeywell Group(Nigeria)

To be informed is to be transformed hook up .

Panadol:

@easimoni

What's the name of your current stockbroker? Why are you thinking about switching?

I currently use Lead Capital. I'm thinking about switching because they don't offer sound analysis. I have to do my own research and there is a limit to what I can do seeing as I have my own full time job. Even the daily reports they publish contain basic errors (like faulty PEs).

@easimoni

So, would you recommend I go with Vetiva instead of BGL?

NSE reverses suspension of broking firms

The Nigerian Stock Exchange on Thursday said it had reversed the sanction earlier pronounced on 50 stockbrokers.

“The erring stockbrokers are now trading,”the Senior Manager, Corporate Affairs, NSE, Mr. Sola Oni, told correspondents at a briefing on Thursday.

He said that the sanction threat did not take effect afterall as the Director-General, Dr. Ndi Okereke-Onyiuke, had, at a meeting with the brokers later on Wednesday, pardoned them.

“The stockbroking firms traded today so nobody was sanctioned. The DG actually threatened that they were going to be sanctioned but after meeting with them, it was reconciled. The brokers that were actually guilty traded today, so that means nothing like sanction again.”

He, however, declined to give details of the affected brokers.

He described the DG’s statement as an intention to impose sanction, adding, “It was that intention that made her to announce on the floor on Wednesday that so and so people were going to be sanctioned but after that it was reconciled. If they did not trade today, that means that the sanction is on.”

Meanwhile, some stockbrokers who spoke on the issue, but did not want to be identified, confirmed that the DG had actually declared 50 dealing members suspended for one week over alleged infraction in the bidding of the special sales of National Salt Company of Nigeria’s 400million shares at the Exchange last Friday.

They said that the erring houses had not traded since Monday until the suspension was lifted on Wednesday.

http://www.punchng.com/Articl.aspx?theartic=Art200706220544993

@ bigboylarry, thanks for the info.
Please, is everyone invited??
Would love to come, i live close to the venue.
You could mail me on coolwaters4all@yahoo.co.uk

@ Tmoni, iceman75,and all

@ bigboylarry, thanks for the info.
Please, is everyone invited??
Would love to come, i live close to the venue

The events is FREE, will shall have a first hand informations regarding the suspended or unsuspended stocks brokers in Nigeria, we should used this opportunity to ask Mrs NDIDI loads of questions, hope u will all make it, once again its FREE! FREE!! FREE!!!. Tmoni thanx for Ur call i will ho la u later

Thanks for the fast response bigboylary!! I'll be there. Thanks.

pls, can anyone confirm if the stock exchange DG would be at this event,
i would really like to have a one on one discussion with her,
and how possible would it be,

pls, answer would be required urgently so i can get a flight to london,
cheers to all

@bigboylary

Hey.
Why you noh open another thread let us post the telephone numbers of thse who wish to come for the event so we can all hook up at a definite time and place at the event and discuss.

Or better still anybody who is local can suggest a pub or place near/ or in the exhibition centre where we can all meet?

I would definitely be there and it would be a good opportunity to meet everyone.

Cheers.

@all,

I personally can't see the need for another tread. Why don't all interested parties email their mobile number to BIGBOYLARY.
He can compile a list and text his number to all to make contact tomorrow.

We can then take things up from there once we've congregated.

I suspect leads security is part of the suspended stockbrokers

dollyp1cute:

I suspect leads security is part of the suspended stockbrokers

Why do you suspect Lead? Were they unable to execute orders for you early last week? Anyway, Dr Ndidi let them go with a slap on the wrist

Panadol:

@easimoni

So, would you recommend I go with Vetiva instead of BGL?

I like Vetiva, but you need to make your own decision.

@easimoni
They have not sent me any daily update and as yet have not responded to my queries regarding some stock i bought from them.

@All
Which bank is FSDH linked to, I want to transfer to them?