NBA:

Anybody here attending the Africa Business Conference in Boston this weekend?

http://www.hbsafricaconference.com/custpage.cfm/frm/13136/sec_id/13136

If its online,we all can attend!

All is possible if you are Obama[/b]tized .

[b]Yes,we can!

@Nairalanders

Breaking news!

The transcorp wahala I mentioned in an earlier posting is public.
Odimegwu has resigned from the board and Ja'afaru due to resign as well as the company secretary.

Don't know if this has anything to do with the present daily maximum gain of transcorp on the NSE.
Hope it does another AP during their fight for supremacy and flies beyond expectation and other rationale.

Will try to get the full gist from my contact and get back.

Happy hunting.

Samstone4

NBA:


O b a m a _{e f f e c t}

samstone4:

@Nairalanders

Breaking news!

The transcorp wahala I mentioned in an earlier posting is public.
Odimegwu has resigned from the board and Ja'afaru due to resign as well as the company secretary.

Don't know if this has anything do do with the present daily maximum gain of transcorp on the NSE.
Hope it does another AP during their fight for supremacy and flies beyond expectation and other rationale.

Will try to get the full gist from my contact and get back.

Happy hunting.

Samstone4

So @Samstone,why don't you think this might rather spell a nose-dive for Transcorp's price on the floor?

Perhaps the full report will clarify,though.

Placed a buy order 3 days back,but no show. . . Waiting to possibly cancel order which didn't have an expirey date specified

@Krrush

Thought the impetus for the rise in Transcorp was the imminent resolution of Nitel problem even if it is the sale at a good price. This development is just another possible explanation, if the moneybags are fighting for control of the company.

We heard that the initial astronomical rise in AP was due to Otedola and some others trying to gain the upper hand by acquiring as many as possible shares on the floor of NSE. With any luck something like that could happen at Transcorp to the benefit of the Talakawas (Hoi Poloi) - the masses - like us.

No guarantee though just a wish and a speculation. If I get any serious indication that might be the case will get back.

Samstone4

@Samstone

Except if what you are implying is that high-powered horse trading is forcing Odimegwu et al to step-aside,I would have thought by your explanation that they would by all means be fighting to stay and better-position themselves and not resign. . .

I guess I figured it out. . . .Diplomacy rubbish."Resigned"really implies "Lobbied-out". . .Power tussle

My bet is @naoplean knows the real koko on transcorp. Will carefully read between the lines of the next _napoleanic epistle in case any hints are concealed there.

@Jandbaby

Hi kiddo. . . .Sleepless in Seattle Jand like me in Lagos,are you?

The weekend's at hand. . . .

No such luck In North America, rooting for Obama.
Have a nice one.

@Jandbaby

Good for you!

Good for Obama!

@Krrush

Forced to resign one day. Force yourself back next day.
You never know.

Must warn I don't know what is going on in details right now.

Samstone4

@Napolean

Do you have the lowdown on the developments at Transcorp?

Samstone4

NBA:

Anybody here attending the Africa Business Conference in Boston this weekend?

http://www.hbsafricaconference.com/custpage.cfm/frm/13136/sec_id/13136

@NBA, my broda I was at it last yr, great event, this yr should be 10th yr, I know a couple of folks going, great place to network, last yr Jim Ovia had a fan club even to get close na so everyone dey pursue am.

Omoba3:

Pumping: Wetin be promised land for Ikeja Hotels?

This entry na till or around Full Year results. Hopefully they won't make less PAT in Q-4 like they did last year.

i hope so too. how can a hotel business lose money in the quarter where alot of hotels should be fully booked. that really disturbs me. i hope smethng aint up?

Naijadr:

@NBA, my brother I was at it last yr, great event, this yr should be 10th yr, I know a couple of folks going, great place to network, last yr Jim Ovia had a fan club even to get close na so everyone dey pursue am.

@Naijrdr
My sista, everyone that has been says it is great. My new found interest in naija stockmarket made me take note, I am heading there now. Who knows, our WindyWendy fit be keynote speaker!

Gotta admit, you guys are good @ wanajo, pumping, aktopgun, fo2, windy, yodi, roughcut, & other imperial majesties too numerous to mention. Been quietly making my money from reading on the thread.
@londoncool, how now? long time. I know u go don 4gt me - no mind me o
Fatherof2, could you pls buzz or flash me on 0802 324 3997 - need to talk pls. Will appreciate ur call.
Now, back to the stands

Quote from: samstone4 on Today at 03:02:47 AM
@Nairalanders

Breaking news!

The transcorp wahala I mentioned in an earlier posting is public.
Odimegwu has resigned from the board and Ja'afaru due to resign as well as the company secretary.

Don't know if this has anything do do with the present daily maximum gain of transcorp on the NSE.
Hope it does another AP during their fight for supremacy and flies beyond expectation and other rationale.

Will try to get the full gist from my contact and get back.

Happy hunting.

Samstone4

This na disturbing gist o!!!!!!

The price of transcorp Must to reach 8 naira whether _Obama sorry Management like am or not o!!!!!!!

Make dem even sack Obasanjo sef, that price must to reach 8 naira o!!!!
_{*adjusts trouser*} Infact i dey go NSE go wait

@ all

Just wanted to say that this thread is a wonderful thing to read. I'm amazed at the wealth of information one can learn here. I've been 3 pages behind for the past 4 days trying to catch up but find did today.

Please keep up the good work.

shigidi:

i hope so too. how can a hotel business lose money in the quarter where alot of hotels should be fully booked. that really disturbs me. i hope smethng aint up?

If na NFA lodge for the hotel nko?
or one accountant decide to donate generator give church nko?

There is nothing that is not possible o!

Nigeria: NSE Approves AIT's N1.8bn Public Offer
Leadership (Abuja)
15 February 2008

The management of the Nigerian Stock Exchange (NSE) Thursday gave a nod for African Independent Television (AIT) to raise about N1.8 billion from the capital market.

Although the offer is yet to secure the seal of the apex regulatory body-the Securities and Exchange Commission (SEC), insider sources said the company would be approaching sec in six weeks time.

Speaking yesterday, the chairman of AIT, Chief Raymond Dokpesi said the offer would enable the company put in place adequate facilities that would ensure total coverage of events in the country and beyond.

He said there would be among others, purchase of multi-channel digital KV.TV system, which also would enable the company serve its viewers effectively.

The company is offering a total of 960 million ordinary units of shares at 50 kobo at N5 each respectively.

960 million units multiplied by 5 naira=1.8 billion naira!

UP AIT!

FG Descends On Transcorp, Pentascope

Print Friendly
Stanley Yakubu




To strip Transcorp of majority ownership of NITEL/MTEL
Defrauded Transcorp shareholders drag Ndi Okereke-Onyiuke to EFCC


The last may not have been heard of the dirty deals that were sealed in the communications industry during the eight-year rule of former president, Olusegun Obasanjo, as the federal government is set to initiate a probe to uncover the circumstances surrounding the handing over of the Nigeria Telecommunications Limited (NITEL) and Mobile Telecommunications (MTEL) to cronies of the country’s former leader.

LEADERSHIP WEEKEND can authoritatively reveal that the federal government has concluded plans to set up special panels to investigate the shoddy dealings of both Pentascope and the Transnational Corporation, (TRANSCORP).

But before this is done, it was reliably gathered from presidency sources that any moment from now, Aso Rock will strip TRANSCORP of majority ownership and leave it with only 15%.

President Umaru Musa Yar'Adua, it was further gathered, is particularly interested in knowing how TRANSCORP managed to acquire NITEL/MTEL's majority shares as it was clear to all that due process was not followed in the privatisation exercise.

When this is done, our reporter learnt, aggrieved ordinary shareholders who feel defrauded by the chairman of TRANSCORP, Dr Ndi Okereke-Onyiuke, who made a lot of easy money from selling shares, leaving them shortchanged in the process, are already getting set to drag her to the Economic and Financial Crimes Commission (EFCC).

Investigating Pentascope, a Dutch firm which was alleged to have looted about N40 billion of NITEL's investment, according to a source, would bring some sort of relief to many Nigerians, who are now at the receiving end of the dubious transaction.

The Nigerian government had to relieve Pentascope of its services within a short period, following the wise counsel of an influential group within the National Council on Privatisation (NCP). Pentascope, appointed NITEL's contract managers less than two years before that time, was attacked by Atiku Abubakar, the then vice president and chairman, National Council on Privatisation (NCP), for its inability to turn NITEL's fortunes around, as anticipated.

The former vice president's strident criticism capped a series of attacks against the Rein Zwolsman-led management team.

Incidentally, it was the NCP with Abubakar as chairman that approved the appointment of Pentascope, in spite of the disapproval of some highly vocal critics that the Dutch company did not meet the prescribed requirements for managing NITEL.

Under the guidelines spelt out by privatisation midwife, the Bureau for Public Enterprises (BPE), a management consultant must have had experience in managing a network of one million lines and must have a successful track record of growing networks in a developing country. Pentascope had no such experience.

On the other hand, TRANSCORP, a conglomerate owned by Obasanjo and his associates, having investments in hotel, power and other undertakings, had acquired majority shares of NITEL/MTEL companies, re-slated it for sale.

Here is the link
http://www.leadershipnigeria.com/product_info.php?products_id=22416

blueband:

960 million units multiplied by 5 naira=1.8 billion naira!

UP AIT!

which kind of yeye mathematics is AIT doing, no be 4.8b dem go get if they are selling 960m units at N5? wetin dem wan do with the remaining 3b on top when them make the 1.8b wey dem say them need?

original tief tief as fela talk!

or is there something i'm missing?

FOR THOSE OF YOU THAT USE LEAD CAPITAL, I TRIED GOING INTO THE WEBSITE TODAY BUT ANOTHER WEB PAGE KEEPS COMING UP.

Achika:

FOR THOSE OF YOU THAT USE LEAD CAPITAL, I TRIED GOING INTO THE WEBSITE TODAY BUT ANOTHER WEB PAGE KEEPS COMING UP.

@Achika, I have tried it and it goes to the right page. Maybe you should try it again.

@ Omoba3

You hit the nail on the head. Something similar happened to me this week. I had asked that they sell oceanic since monday this week. As I write, I don't even know if the sale has been made. Meanwhile I be don position to enter some insurance stocks by this Friday. This na Lead Capital o!

I really wish it were possible to be pals with the broker imself. So far 4 UBA Stockbrokers, I have someone who ensures my order is flagged 4 that day.

I just tire jare.

@pumping,

Your Sterling gist correct o!

E dey pain me say I go sell my 50K units I got b4 TS. I sell b4 d latest news hit market.

NSE wahala!

@Napolean,

Many thanks for your insight.

I am very interested though in how you started. I am sure most beginners like us can learn from it.

Were you always a PP person and a deep pocket? Abi you start like us with our own "guguru and ekpa" money when we dey guard and nucture small small to reach your level.

Many thanks

I got this from PROSHARENG

SEC Probes 6 Firms Over Shady Dealings
Dear Endy,

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

If actually this is true, I think Mr. Napoleon should be a qualified candidate for investigation if he is actually what I read him to be from his last post.(Dont Ask me what I read him to be o)