school fees ke?
a whole baba ibeji. too much money.
as ur pikin plenty reach, even if e pass Abraham own, na God go help u fufil ur dreams with every single one.

abi? NO BE GOD?

lawalidowu:

school fees ke?
a whole baba ibeji. too much money.
as your pikin plenty reach, even if e pass Abraham own, na God go help u fufil your dreams with every single one.

abi? NO BE GOD?

E beta make 2 go Harvard oh. 2 Quality pikin.

FOF2
Goodmoring, out of your three stocks kindly post one that is a good buy.

Father of 2, wanajo @ all
plz whats  your take on Glaxosmith and A G leventis?

beginner:

FOF2
Goodmoring, out of your three stocks kindly post one that is a good buy.

Its better they finish their descent to avoid injuries.

Abu-Maryam:

Father of 2, wanajo @ all
plz whats your take on Glaxosmith and A G leventis?

I be try to break window enter about 1.5weeks ago, but one guy wen hair just full e hand use am block the handle.
Grabdaloot no gree answer me for front seat.
I think Leventis is just going and going.Only a miracle will bring it SERIOUSLY back to earth again.It just looks so high now.

crazyT:



Partnership investment is my broker and I guess they submit the form at UBA. I was made to believe that their Oga even tried to pay more in other for them to pass the  PP through but all to no avail. Hope that helps.


BTW, whats your take on this Capoil, Afroil palava?
Because I get hand and leg for inside o, my Capoil has gain about 4000% (through, I have cash in my initial investment and small profit last year, based on your advise then) same goes for Afroil.

Guess it's time to say goodbye Abi?

Your broker did its best!!!!! Not sure IBTC was able to submit application for everybody.

UBA was the lead issuing house. A cheque of N5bn was given to Chams before the offer. That basically covered the whole 2bn shares being offered.

The 2bn shares was underwritten by 4 houses with UBA having the largest. The others were Santrust, Skye and Fidelity. Santrust from day one was selling for 4.00!!!! UBA Global markets already have some people pencilled down for the offer. Surprisingly, Fidelity and Skye seems not to have so many people (they are not strong in investment banking). I submitted one application via UBA and the other via Skye. UBA just presented the cheques for clearing last week. That's over three weeks since it was submitted.

At a point, UBA wanted to collect from the underwritten shares of the other issuing houses. I was informed authoriatatively from the onset that there will be no return money. The plan was that once the limit is reached by the issuing houses, they should stop collecting money. That worked perfectly well with SKYE.

Don't worry, more juicy offers are in the pipeline. Make Napoleon tell us once Starcomms, Multilinks and Interswitch are out.

Well, on Afroil and Capital Oil, sell some more as a way of locking in profit. You've made enough to walkk away from stocks without any fundamentals. Sell now when there are buyers (that's my assumption). Soon, no one will be buying those stocks execept you find a mugu. Remember the bigger fool theory

@ FOF 2

Abegi drop just one now, my Capoil money just collect visa and he needs to board new flight asap. But na for long term o because my broker no fit handle CICO

guys i got this from todays papers (VANGAURD)

Share price manipulation: SEC probes AP, IPWA, others | Print | E-mail
Written by Peter Egwuatu
Thursday, 14 February 2008
THE Securities and Exchange Commission (SEC) has commenced investigation of recent rapid price movement in listed shares of African Petroleum (AP) Plc, Big Treat Plc, Afroil Plc, First Aluminium Plc, Capital Oil Plc and IPWA Plc.
This followed allegations of price manipulation and other sharp practices in the stock market.

AP recorded a low and high price of N46.29 per share in July and N155.57 per share in December last year respectively.

At the close of trading yesterday, the price closed at N260.00 per share. That means the price has risen by 461.7 per cent from a low price of N46.29 per share in July last year to N260.00 per share.

Spokesperson for the Commission, Mr. Lanre Oloyi, told Vanguard: “If, at the end of the investigation, a case of price manipulation or insider dealing is established against any person/financial adviser, the Commission would apply appropriate punitive measures.

“The Commission wishes to remind all operators that insider dealing is a criminal offence in the capital market and urge them to always operate within the confines of the rules to ensure transparency and integrity of the market,” he said.

In the same manner, Big Treat Plc which was listed last December at N3.30 per share at the Nigerian Stock Exchange (NSE) has risen to N16.99 per share at the close of trading yesterday. First Aluminium Plc, another quoted company in the Industrial/Domestic Products sub sector, closed at N5.09 per share from a low of N0.63 per share last year.

Capital Oil Plc, another company in the Emerging Markets sub sector, rose to N17.50 per share from a low of N0.33 per share last year while IPWA Plc closed at N8.57 per share from a low of N0.33 per share last year.

The commission’s spokesperson said SEC was committed to protecting investors from all forms of sharp practices. SEC in the past had penalised operators caught in various kinds of sharp practices.

SEC, in the case of Bonkolans Investments Limited through its Administrative Proceedings Committee (APC) sanctioned some operators on the alleged scam on the floor of the Nigeria Stock Exchange involving illegal sale of Nestle Foods Plc, Unilever Plc and other securities by some individuals through some stockbroking houses.

Consequently, the stockbroking houses and individuals involved including the Nigerian Stock Exchange, the Central Securities Clearing Systems Ltd (CSCS) and Union Bank Plc (Registrar Dept) were invited before the APC of the Commission to explain their roles in the scam.

At the end of the hearings, APC directed some stockbroking houses and their brokers that participated in the scam to either restore or buy back the shares illegally sold by them to their bonafide owners. Some of the stockbrokers were suspended and others banned from participating in the Nigerian capital market.

wanaj0:


Don't worry, more juicy offers are in the pipeline. Make Napoleon tell us once Starcomms, Multilinks and Interswitch are out.

Well, on Afroil and Capital Oil, sell some more as a way of locking in profit. You've made enough to walkk away from stocks without any fundamentals. Sell now when there are buyers (that's my assumption). Soon, no one will be buying those stocks execept you find a mugu. Remember the bigger fool theory

I hope Chief Napoleon go do something o, because Starcomms, multilinks and interswitch no go pass me by at all.


Thanks for the Capoil and Afroil advise, I have send in my selling order.

Any idea on where to offload the money, not CICO o but long term

FOF2

Please one more question this morning. I am thinking of selling my oceanic PO to face the guaranttee bull run post year end. Please explain the timing for gurantee for me. Thank you

The Securities and Exchange Commission (SEC) has begun investigations into the activities of six companies over allegations of price manipulation and other sharp practices aimed at ripping-off investors.

The Commission, in a statement on Thursday signed by Lanre Oloyi of its corporate affairs department, gave the names as
1. African Petroleum Plc (AP);
2. Big Treat Plc;
3. Afroil Plc
4. First Aluminum Plc;
5. Capital Oil Plc; and
6. IPWA Plc.

SEC vowed to deal decisively with any operator found culpable of price manipulation or insider dealing.

It reminded all operators that insider dealing was a criminal offence in the capital market and urged them to always operate within the confines of the rules to ensure transparency and integrity of the market, PROSHARE

SPECIAL PUBLIC NOTICE


All investors in the Nigerian Capital Market who have not received their share certificates and return/surplus monies in respect of ALL public offers that closed on or before October 31, 2007 are hereby advised to forward their COMPLAINTS in writing to the DIRECTOR-GENERAL, SECURITIES AND EXCHANGE COMMISSION as indicated below:

SEC Offices Nationwide:
1. HEAD OFFICE
272, Samuel Adesujo Ademulegun Street
Central Business District
P. M. B. 315
Garki – Abuja

2. LAGOS ZONAL OFFICE
3, Idejo Street
Opposite ICON House
Off Adeola Odeku Street
Victorial Island, Lagos

3. PORT HARCOURT ZONAL OFFICE
First Bank Building
22/24, Aba/Port Harcourt Road
BA/PORT HARCOURT ROAD
Port Harcourt, Rivers.

4. KANO ZONAL OFFICE
African Alliance House (4th Floor)
Sani Abacha Way/Airport Road
Opposite KLM Airlines, Kano

IMPORTANT NOTES:
1. Please state your contact details clearly – GSM Telephone numbers, fax and E-mail addresses.
2. Enclose evidence of transactions justifying your claim(s).
3. Ensure that the complaint(s) are clearly marked “NON- RECEIPT OF SHARE CERTIFICATES AND RETURN/SURPLUS MONIES”.
4. Please clearly indicate the public offer you are complaining about.
5. Submission of complaints in respect of this notice shall be open for 14 (fourteen) days from the last week. Any complaint received thereafter shall be treated in as matters in the ordinary course of business of the commission

PROSHARE

beginner:

FOF2

Please one more question this morning. I am thinking of selling my oceanic PO to face the guaranttee bull run post year end. Please explain the timing for gurantee for me. Thank you

Hmmm, Easimoni and i talked about the right time to enter this GTB sometime in Dec. I believe it presented itself for the last time on the last weekend of Jan. That's been its case for many years.It seems same set of people keep diving in about the same time consistently.
I believe GTB will gradually and consistently rise until full year is announced.I no expect BONUS.I'm doing a FULL CICO on GTB by year end, then i'll split it and by that time UBA will still surely be available.
Watch out for when GTB is able to make some reasonable falls so you can enter.
You can sell your oceanic, as you can see,you're selling and so are many others. Oceanic actions won't start now, na later.Post Q2 and Pre Q3.
Pumping posted about this yesterday.Oceanic go wait for you.

Napolean:

Dear Friends

I want to believe you all left money matter and took your better half out.

Anyway as we were discussing I love critique and nobody is all knowing except our Creator. I hope I am still learning and I no dey carry womans tweezer comot my grey hair. Na my sign or maturity,turbulance and may I say being distiguished :

@Father of 2 - please do not delude yourself. Diamond has been trading in a tight band for over 4 months now. It has billions of shares outstaning and nothing apart from the bank buying/divesting of its shares,rumour or strife or news will send it in leaps. Or any other well capitalised bank for that matter.

@Wanaj0- You are spot on in most of what you say. I concur with you mut I still think that our considerate importers that bring into the country huge quantities of necessities and jam the ports and have their name sung do not borrow funds at 20%. A lot of them are even on the boards of new banks so they are relatively special. I am not talking about 2 containers of contraband every 6 six months. I mean our shakers. The type that also don't mind paying big money to try and get on the board companies such as nigerian breweries.

@ Londoncool - You probably know me and are nice guy as many of the folks in the London branch of first bank are. But you mentioned you have left. What you posted I agree with to some extent. In those days many Nigerians and some still do remit funds through the london branch to our domicilliary account in Nigeria because it is free. Or is for me. Because it is essentially an interbank transfer. A few big players also used to go to the Park Lane office of standard chartered to do the same, though it's not a retail office so it's really just a favour for a "friend" of the bank. Having said that the oyinbo banks will remit and try and suck about 1% (or more) or value but we tell them where to go because with private banking all the hidden costs-the calls to nigeria,calling your satalite line in those days, the special chque book etc, all you dey pay for indirectly so why I go pay to move wettin be my own. Also I prefer the oyinbo bankers because they are not too overly familiar you will not hear gist about your bank balance at a polo match in lagos and they are happy to call you Chief because your sruname is "exotic" unless you pull them up on it. Some people prefer a quite contented life. It is a choice. Why should somebody build a twenty roon mansion when a tastefully furnished seven bedroom home will adequately accommodate the family.

About hacking- don't you take it lightly. At times don't people see funny digits on their cscs? It won't have fault ( lets pray) but how can you really verify wettin be your own iff you never see certificate at all at all. That is why I photocopy, register with the court then dematerialise (and place a caution) on my account because I do not trade. Because I live on my dividends and other going concerns I have, my holdings are for my family so they don't curse me when I am gone. That is why my certificates are mostly are offshore in a safety deposit facility and with the necessary people in the know and will be opened at that time.

Hacking @ All

- Did somebody not hack Bill Gates' credit card? When most of you opened stockbroking accounts did you not give a recent passport picture of yourselves. If somebody knows your name, proper signature,d.o.b,address,bank details do you think it is very hard to aquire new loans/credit cards with your info. Use your old address as previous residence, get a new address get a fake uitility bill and apply for credit with your info. Please I don't want to go further and give more info to any silent fraudsters but those of you in the diaspora know what I mean. I am not saying it is easy to hack into your account but somewhat easier to obtain credit with your details. Thats why identity theft is a big deal aborad. And I know you will say if it happened it gets refunded, usually yes if you can prove you had no hand in the set up however a quite reg flag goes on your acount and your credit rating is silently cautioned. Is all the aggro necessary? thats all I was highlighting and not suggesting anybody you will be duped. Not to get any anybody paranoid. But I must say I did not like my daughter getting a phone call tell her she has been pre approved for a credit card she did not apply for. Quite the norn in the US. I don't personally believe in them.

@All PP's

Where do I start? I did not say that PP is the only way in. I think you may have gotten that impression because I responded to Wanaj0's post that was about the IAA PP and just decided to mention what I knew about a company I have spoken to the Chairman about and he explained he bought it through another company that warehoused it and it made sense. What I did say and I will maintain where I am personally concerned that my entry price largely determines my exit. Although I rarely exit because hopefully my effort go reach childrens children, no be for me.

Not all PP's will list ever. Some are good in a sense that it gives regular income and are de facto pensions for us. They pay out a large % of profits-sometimes all as opposed to a quoted company that usually wont pay out more than 60% profit.

By the way Fan milk for example is a nice income booster for me. At least it has paid 3 postgrad fees over the years for pikins so I can't complain.

A placing is what you make it. Read: Art of the deal by Trump. It's old but good. If you meet an excutive director of XYZ comp and by virtue of his position he has a number of units but can't turn them to gold because him MD say no you can ease him out of his pain. You pay him handsomely and you sell at the price that is your desired exit point and you are happy and he is happy. Please understand as a principled person I do not encourage sharp practice. It limits grow and is an economic dictatorship. But bear in mind the NSE is a limited liability company. No be charity. It is only a platform to trade. Therefore not everyone wants to trade in it and pay. Some people shop via the retail outlet and some buy from the manufaturer direct its as simple as that. Until one becomes more knowledgeable and is ready to trade volume them its is MUCH better to trade for public market. Trade,barter,fight  then agree. Abi? When you used to go to market didn't you have your customer? (na naija grammer). Same way some friends become each others customer very simple.

If I made the mistake of buying my pikin share in my name, will pay pay NSE to sell it to him or will I meet lawyer and registrar and transfer in a legal but cheaper way?

For example is Wanaj0 has his IAA deposited in his CSCS and tells his broker to sell at N2.5 per share he is a very happy man. So will be the person who buys at N2.5 and waits a few days until it maximum bids it self up to N3.50 or more ard steps out after a few days soft labour. No be form you carry fill na PP. Placement as far as I am concerned na sweet entry deal. I did not believe in new generation banks and was skeptical but I must say I am not dissapointed with the volume of GTB I bought from a friend in early 2003 at N4+ off plan but in house. Na PP? No. Na subcribe? No but na sweet deal. As far as I am concerned out of all the new generation banks it is the most hard working for shareholders, well rewarding and consistently priced.

@ Dr ATOPGUN your japanese candle no be in vain at all. Na blessing you hear? As the market slowly becomes more sophisticated all your analysis will become even more relevant. Technical analysis is great especially if you are a ducker and diver. But that one pass my head, it be for you and your friends here along with my son who is an investment banker in Canary Wharf and knows una jargon. I be information, fundamental and friend to friend investor. Very crude I know. At times I wish I could knock 25 years off but then again life is stressful these days so my ignorance to indicators maybe my bliss. But I read accounts sha and took some professional qualifications in this area and understand trends but candlestick no. But my advisors dey brief me and my son dey warn me!!! and I pray then decide.

As the NSE grows and the rustication reduces, and our bankers beg oyinbo to buy in and add credibility because of our inferiority complex then they will bring placement along with their "progressive" ideas. It works two ways. Is makes NSE halla people to pull their socks up so you can get your returned dough within eight weeks and your certificates with 12 the way things dey move but it also removes what some old people have previously enjoyed. But we are at least 3-5 five light years away from real progress here. The Chinese love Naija the Britico don't.
Madame NSE is very well educated and had a good job in New York, she knows what is eventually required. Financial engineers know its very hard to engineer anything when there is not market maker talkless of bid - ask spread. There are no "official" options or exotic derivatives openly traded. There are not options where you go only deposit fraction (unless you were on the board of transcorp haha) and profit either way.

So threat not thy selves. I will never send any bad signals or upsets. The wise amoung you will find the positive to suffocate the negative and exhale betta breeze. I have mentioned some of the nonsense previously but I am NOT complaining. Things are good. Even if you were to buy what you consider expensive now in with the next 2 years unless something bad happens you no go see stocks like the elephant for less than N140 so how that go bad. I think I am even being coservative. But if you are in and out you better learn una candle stick stuff and know wetin dey happen.

@All in the diaspora and working abroad. Your efforts are not in vain. You have garnered a wealth of knowledge and skills that can translate itself to gold. You can "place" out some of your ideas and warehouse the rest until you think the premium is right. The information age is not a cliche'. I am sure not a few of you will eventually float your area of consultancy/core competence on the floor and people will scramble to buy. You go do shakara and return money to regressive minds and ask who sent you?

Not much in this life na rocket science. The MTN and Glo for Naija no be ingenious, just dey try replicate wetin dey abraod so man no go rely on nitel/090 abi? Those abroad have the edge in a sense that  man no need "so called deep pocket" una will get international network (thats your wealth) and integrity (gold). Na OPM and "partners"at that level. When we get self respect and self worth for Nigeria the Indian man go "beg yoube the face his investors" money for am because dudu face no dey the doard of directors for their country leading companies. All that na progress. Nomatter wettin so called development you see for Victoria Island or abuja when you come for holiday we still get long way to go. Ever wondered why Nigerian born Oyinbo no dey inside elected political position. I no mean special advisor wey you go dey pay consultancy and give you yarns to suit them. I know you will argue its or captured/colonial our history but because of hunger and lack wetin they cause am today. Nigeria na 99%  dudu nation and 80%+ indiginious. Ghana and Gambia have higher % of other nationalities chosing to redie there. Wetin Barak dey do for Washington no go happen for eagle square with other race anytime soon. We have not devoloped to that stage yet. But that is not relevant to our discourse. I dey pray for Barak na good guy, at least na achievement so far but una dey look for openings such as legitimate OPM dey beg you bring them into your country. You would therefore have done your own placing. Nobody go return your money!

But I hope you will find time to share your story eventually. Life is about giving back even if na mite. No be for thank you but sometimes as the way your conscience they lead you. Even if na only one person you put through in life (as the Grace allows) na blessing be that. When you are blessed nobody fit break your anointing  so think otherwise positively please.

A time may come when a visit may be paid to a branch of the ATOPGUN group of medical facilities. I just pray pikin no go bundle me for evaluation/sectioning sha.

I do not mean to offend Nigerian bankers but until you realise wetin dey happen for Wall street and Canary wharf then you go know say marketing/attracting deposit/treasury/flowery accounting no be banking. That may sound negative but it means for people now the best days are still ahead especially if your patient and willing to allow your harvest to bloom with time. This also goes for other sectors wich are progressive and innovative. Investing in a company that bottling will be phased out and have no new ideas no be great idea. Unless you want buy am to asset strip ofcourse.

Nigeria dey. Oppurtunities on the floor of the NSE dey, Angola, Ivory coast, dey. Infact Africa dey so continue dey grin I beg. 90% of the crumbs I have are from or eminated from the mother land. So I will always advocate home and when the time is most suited for those abroad you should come home. Home na home.

Better days are still ahead for all of you. The best thing you all have apart from knowledge is time.

Keep up the great work all the hard working, informative and positive posters on this thread. It shall not be in vain.

Uncle Napoleon, thank u o! in a mere 10 posts u have provided eye-opening gist into the higher workings of investing. For me anyway.
I may have a scientific background but i have a business lineage.
i take ur points with no pinch of salt at all, i'm all ears. u've got me yearning again!. i will be ready.
As Solomon said, "i have been young and now i am old, i have never seen the offspring of the righteous(diligent) beg for bread.
we will all prosper, all to varing degrees, but prosper we will!. i must leave alegacy of wealth to tobechukwu (and im sister wey i don begin dey plan for but make una no yarn my wife yet o, she go tear me slap )
once again thank you.

FatherOF2:

You can sell your oceanic, as you can see,you're selling and so are many others. Oceanic actions won't start now, na later.Post Q2 and Pre Q3.
Pumping posted about this yesterday.Oceanic go wait for you.

He be like you dey a bit a slow on that one o!Action for Oceanic don already start.They released 1Q '08 PAT of  N8.8B so  that puts them on course to do PAT  ~N32B by year end as you can see the price gained ~N0.50 yesterday.

If they are going to be reporting FY for December '08 according to the new uniform reporting periods for banks it means they will be reporting 15 months for FY '08 which even makes it better!

Aktopgun you still dey for cockpit? tell your co-pilot make he dey translate wetin you dey talk

RoughCut:

He be like you dey a bit a slow on that one o!Action for Oceanic don already start.They released 1Q '08 PAT of  N8.8B so  that puts them on course to do PAT  ~N32B by year end as you can see the price gained ~N0.50 yesterday.

If they are going to be reporting FY for December '08 according to the new uniform reporting periods for banks it means they will be reporting 15 months for FY '08 which even makes it better!

Aktopgun you still dey for cockpit? tell your co-pilot make he dey translate wetin you dey talk

December still far na. The stock no fit sustain bull run from now till then. I think people go still fit buy Oceanic at N28 after today so I don't think there is any rush to get it now expect you are a die hard long termer.

Out of the 22B fowls wey dem get, everyday some must lay eggs for now So prolonged scarcity go hard.

pumping777:

December still far na. The stock no fit sustain bull run from now till then. I think people go still fit buy Oceanic at N28 after today so I don't think there is any rush to get it now expect you are a die hard long termer.

I'm talking about the rally for the 1Q '08 results! I no mention say the price go sustain bull-run till December '08 Haba oga pumping777? i no dey speak japanese now

Anyone that needs to enter will just have to wait till the hype generated by the bullish 1Q '08 results begin to wane but the bull-run run for 1Q don start!

Still need to check the candles though to confirm

@fo2 - He get one insurance wey door crack open yesterday. I guess na one of d ones wey you dey talk.

U go wait to see wetin go happen today or you go try "latch" on today in case the price drops? I bin talk say no insurance for me but this gap wey I see, nobody dey block am sef.

I dey fear TS but I think this one fit drop by next week (If TS catch me before then, na real bad luck be dat).

I no see other ones wey you see o. He be like say you dey use goggle sef. Give man small hint now.

RoughCut:

I'm talking about the rally for the 1Q '08 results! I no mention say the price go sustain bull-run till December '08 Haba oga pumping777? i no dey speak japanese now

Anyone that needs to enter will just have to wait till the hype generated by the bullish 1Q '08 results begin to wane but the bull-run run for 1Q don start!

Still need to check the candles though to confirm

Abeg No vex. Na so my eye dey do for morning when I never chop. Na d FY @08' wey your write confuse me.

But as you talk, them don show us Q-1 already so I suppose you mean Q-2 (I dey refer to fiscal year). Dat one na for April ke so time still fit dey.

Me still dey skeptical about this run NOW sha. I bin think say all this PO people wey dey dematerialize go worry the run.

Something interesting.

It seems FBN is positioning to line up under the N50 bar with UBA, UBN and Zenith.

RSI and CCI buy signals on Afribank 3 periods ago. The price has closed on N26 for those 3 periods.

pumping777:

Abeg No vex. Na so my eye dey do for morning when I never chop. Na d FY @08' wey your write confuse me.

But as you talk, them don show us Q-1 already so I suppose you mean Q-2 (I dey refer to fiscal year). Dat one na for April ke so time still fit dey.

Me still dey skeptical about this run NOW sha. I bin think say all this PO people wey dey dematerialize go worry the run.

Action for Q2 never start  as we never reach that time period. What will happen is the rull will continue for a few more days or weeks and then when the thing don dey cool down small peeps fit enter. But as FO2 talk the action go start for Q3 proper at least that way we know if they will meet their projections or not.

I fit commot profit in  few days go somewhere else and come back when they are ready to release the Q3 results sometime during the summer/autumn.

Wifey and son dey fully on board sha so i no sure say dey go allow make i commot sef before we reach Australia

pumping777:

RSI and CCI buy signals on Afribank 3 periods ago. The price has closed on N26 for those 3 periods.

Afribank has already made 91% of their projected FY PAT in Q3 so i guess that one don leave station.  To gatecrash a seat for train wey don leave station go dey a bit tricky o!

good morning everyone

I have been doing some thinking, and i think this Bull run is about to come to a premature end!
all these rumors and revelations is about to hit the market real HARD, i think all the rosy talk about NSE is about to be tested big time now.
You guys should brace up o

@ Chairman Napoleon
Thanks for all your insight

maneasy:

SEC Probes 6 Firms Over Shady Dealings

The Securities and Exchange Commission (SEC) has begun investigations into the activities of six companies over allegations of price manipulation and other sharp practices aimed at ripping-off investors.

The Commission, in a statement on Thursday signed by Lanre Oloyi of its corporate affairs department, gave the names as
1. African Petroleum Plc (AP);
2. Big Treat Plc;
3. Afroil Plc
4. First Aluminum Plc;
5. Capital Oil Plc; and
6. IPWA Plc.

SEC vowed to deal decisively with any operator found culpable of price manipulation or insider dealing.

It reminded all operators that insider dealing was a criminal offence in the capital market and urged them to always operate within the confines of the rules to ensure transparency and integrity of the market.


DO YOU HAVE ANY KNOWLEDGE OF ANY COMPANY WITH POSSIBLE LINKS TO SUCH PRACTICES? KINDLY WRITE TO OUR INVESTIGATIONS UNIT FOR MORE WORK - news@proshareng.com

Let them probe to find out who is doing "the more you look , the less you see" on Dangote flour.

They are just using people as mere statistics to make inordinate profits from their own company shares.

Maximum of 1 deal since this year.

It seems he just sells to himself and buys from himself  

The magu magu for NSE toomuch.Imagine dead UNTL price still dey go Miduguri.If SEC does not restore confidence in the market there might bo no NSE to even trade on very soon.It;s Bigtreat that worries me.A bread company!This chinesse people no go kill us.

RoughCut:

Afribank has already made 91% of their projected FY PAT in Q3 so i guess that one don leave station.  To gatecrash a seat for train wey don leave station go dey a bit tricky o!

I don't get it. Do you think Afribank will be hard to get at N26? This is roughly the lower price band at which it has been trading since TS was lifted.

pumping777:

I don't get it. Do you think Afribank will be hard to get at N26? This is roughly the lower price band at which it has been trading since TS was lifted.

N25 is a major support level for afribank although it appears a new support is forming at N26(as spken by DOJI) .
resistance is at about N26.50 post TS, thin margin.

Salvage:

Let them probe to find out who is doing "the more you look , the less you see" on Dangote flour.

They are just using people as mere statistics to make inordinate profits from their own company shares.

Maximum of 1 deal since this year.

It seems he just sells to himself and buys from himself  

That is not strictly true. The man still owns 75% of Dangote flour and if i'm correct he has only floated 25% of the company which means he still owns 15B shares and i'm sure he couldnt have been selling the shares i mean the volumes involved is nothing compared to what he owns so  i guess is one other shareholder that is just locking in profits before us less mortals receive our 'pali'

Dont forget for you to incorporate a public company you need at least 2 shareholders right? so i guess its the 'other' shareholder that is trying to jump-start the price before the action starts

I'm not aware of any PP for this one so i think its  a minimal number of shareholders  invloved in the 'saga' that is playing out before our own 'korokoro' eyes

aktopgun:

N25 is a major support level for afribank although it appears a new support is forming at N26(as spken by DOJI) .
resistance is at about N26.50 post TS, thin margin.

Man must learn this Japanese by force o

I don't know what Afribank can use to stimulate price movement sef. No other result (Interim or FY) out till around June/July at the earliest.

pumping777:

Man must learn this Japanese by force o 

I don't know what Afribank can use to stimulate price movement sef. No other result (Interim or FY) out till around June/July at the earliest.

then it looks like they are in for a long trading range with little or no trending. u cant even do CICO them cuz the margin btw resistance and support is quite thin