I don't know if this is the right section for this. My mother bought shares at omega bank and skye bank for about 20 thousand naira about 13 years ago and since then she didn't check up on them anymore.

We moved from out previous residence to a new one years after and she later forgot about the shares. So few months ago she was doing a general clean up and she saw documents from her 13years old shares and she has been thinking of a way out.

Please help us. How can we get here shares?

First step, she should go to the registrars to check what the shares are worth.

Hadez:
I don't know if this is the right section for this. My mother bought shares at omega bank and skye bank for about 20 thousand naira about 13 years ago and since then she didn't check up on them anymore.

We moved from out previous residence to a new one years after and she later forgot about the shares. So few months ago she was doing a general clean up and she saw documents from her 13years old shares and she has been thinking of a way out.

Please help us. How can we get here shares?

Well you could go to the registrars as the poster above has pointed out, but i wouldn't bother if i were you and here's why.. Skye bank share price has been bobbing ard 60kobo for a while now, my guess is she prolly bought higher than the current price, or maybe she bought lower (even then it cant be significantly lower ie. it most likely wouldnt be less than 50kobo). What this means is the amount has most likely remained same or even less after the 13yrs. As for Omega bank, they were sold to Spring bank during the period of the bank mergers, and even the spring bank have gone under for about 4-5years now. So that one is pretty much a lost cause. Now factor in the racked up charges from the registrar for 13yrs, and you'll find out that you may not even have any money left to salvage, you might even be owing. That's my take.

dominique:
First step, she should go to the registrars to check what the shares are worth.

Registrars? At where please? I used omega bank for the transaction and why are not in play again

Hadez:



Registrars? At where please? I used omega bank for the transaction and why are not in play again

Forget about the Omega Bank Shares. They later became Spring Bank which was renamed Enterprise Bank and their shares delisted after the takeover by AMCON.

For the Skye Bank Shares, let her visit Cardinal Stone Registrars at 358, Herbert Macaulay Way, Yaba (I think it should be before Sabo-Yaba or After) and request for her Skye bank holdings statement.


P.S: Err.. Price of Skye Bank shares is about 0.60 kobo.

davide470:
Forget about the Omega Bank Shares. They later became Spring Bank which was renamed Enterprise Bank and their shares delisted after the takeover by AMCON.

For the Skye Bank Shares, let her visit Cardinal Stone Registrars at 358, Herbert Macaulay Way, Yaba (I think it should be before Sabo-Yaba or After) and request for her Skye bank holdings statement.


P.S: Err.. Price of Skye Bank shares is about 0.60 kobo.

So would there be any cash in the shares account? Sorry I kept asking questions I want to be able to explain better to the lady.

Hadez:


So would there be any cash in the shares account? Sorry I kept asking questions I want to be able to explain better to the lady.

It is called Dividends.

There should be something in there for her, though, it might not be much. She can also request for her outstanding dividends.

davide470:
It is called Dividends.

There should be something in there for her, though, it might not be much. She can also request for her outstanding dividends.

Alright. Thank you. I just called her and she asked like how much. Lol. I told her I don't know

But since 12 years at least it should be more than 100k

Hadez:


Alright. Thank you. I just called her and she asked like how much. Lol. I told her I don't know

But since 12 years at least it should be more than 100k

Lol. Let's say between N1,000 - N3,000 or less. She invested less than 20k innit?

The dividends is just an added benefit to the shares, and not the value of the shares.

davide470:
Lol. Let's say between N1,000 - N3,000 or less. She invested less than 20k innit?

The dividends is just an added benefit to the shares, and not the value of the shares.

Yes she invested 10k. 3,000 naira That is bad

So shares is a scam?

davide470:
Forget about the Omega Bank Shares. They later became Spring Bank which was renamed Enterprise Bank and their shares delisted after the takeover by AMCON.

For the Skye Bank Shares, let her visit Cardinal Stone Registrars at 358, Herbert Macaulay Way, Yaba (I think it should be before Sabo-Yaba or After) and request for her Skye bank holdings statement.


P.S: Err.. Price of Skye Bank shares is about 0.60 kobo.

Lol! @ last sentence

Hadez:


Yes she invested 10k. 3,000 naira That is bad

So shares is a scam?

Lol. 3,000 is a bit far-fetched though and shares are not scam. There was a market crash in 2008/2009 and we haven't fully recovered.

So, i did a small analysis of the worth of her shares. See the attached picture and the highlighted

Jamean:


Lol! @ last sentence

Why are you laughing

davide470:
Why are you laughing

That was just a subtle way of saying that the investment has no value, see your schedule na

Hadez:



Registrars? At where please? I used omega bank for the transaction and why are not in play again

The name of the registrars is often printed on the share certificate. Go through it properly, you'll find it there (edit, I can see that Davide47 0 has assisted on that one). The registrars are able to revalidate expired dividends and tell you what you're share are worth presently. The accumulated dividends may be worth the trouble.

Which i had already most simply told her. Davide factor in racked up charges, abi have you forgotten about annual brokerage fees? That money is already in minus

Hadez:


Yes she invested 10k. 3,000 naira That is bad

So shares is a scam?

lol. Your resonses just keep making me laugh of here.

David: your money is gone

Hadez: No, there is money there.

David: It is not worth the troubles

Hadez: But the money should be about 100k by now.

Me: Hadez, wake up, welcome to reality lol.

Forget the money and you have probably spent more than 10k this month yourself. If possible. Give mummy 10k (or add a little to it) and tell her to forget the money. That's what I would do If my mum was alive. She will pray for you and bless you