Boko Haram targets US embassy

THE notorious Islamic sect, Boko Haram, has taken its violent campaign to the united States enclave with a mission to bomb its embassy.

http://www.momentng.com/en/news/5759/boko-haram-targets-us-embassy.html

By Aruga Joe Omokaro, Lagos



THE notorious Islamic sect, Boko Haram, appears unrelenting in its campaign of violence despite the scathing criticisms that have trailed its activities, especially last Sunday’s Christmas day attack on a church in Madalla, Niger State, killing over 40 worshippers.

This time, the sect is said to be plotting to attack the diplomatic missions of the United States of America in Nigeria.

Security sources hinted The Moment On Sunday during the week that the White House is in possession of intelligence reports indicating that the next target of Boko Haram are the US formations in Lagos.

The Barrack Obama administration is among the harshest critics of Boko Haram and recent reports spoke of America’s willingness to assist the Nigerian government in battling the group.

On the receipt of the signals, the American seat of power was said to have promptly alerted the US ambassador to Nigeria, Terence P. McCulley, advising him to ensure that the police fortifies security around all US diplomatic missions and investments in Nigeria.

The ambassador, in turn, reportedly alerted its Consul-General in Lagos, who wasted no time in alerting the Assistant Inspector-General of Police (AIG) in charge of Zone 2, Police Command, comprising Lagos and Ogun states, Mr. Chris Ola.

A letter dated December 29, 2011 and signed by the Regional Consulate Security Officer (names withheld) warned of ‘a serious threat to US missions in Nigeria’.

It requested for more armed policemen to fortify all US missions and investments in Lagos. The letter was said to have specifically mentioned Walter Carrington Street and another US office in Ikoyi Lagos.

Investigations by The Moment On Sunday revealed that the AIG has promptly taken action to fortify the missions, after marathon meetings with different security agencies on Friday.

Our investigations further revealed that more security personnel from both the police and the military were on Friday deployed to all US and British formations in Lagos. In particular, personnel from the Anti-Terrorist Squad (ATS), Anti-Bomb Squad and plainclothes detectives, are said to be among those keeping vigil at the foreign missions.

Efforts to get the AIG to speak on the Boko Haram threat and the action being taken to prevent it were unsuccessful.

Boko Haram targets US embassy

THE notorious Islamic sect, Boko Haram, has taken its violent campaign to the united States enclave with a mission to bomb its embassy.

http://www.momentng.com/en/news/5759/boko-haram-targets-us-embassy.html

By Aruga Joe Omokaro, Lagos



THE notorious Islamic sect, Boko Haram, appears unrelenting in its campaign of violence despite the scathing criticisms that have trailed its activities, especially last Sunday’s Christmas day attack on a church in Madalla, Niger State, killing over 40 worshippers.

This time, the sect is said to be plotting to attack the diplomatic missions of the United States of America in Nigeria.

Security sources hinted The Moment On Sunday during the week that the White House is in possession of intelligence reports indicating that the next target of Boko Haram are the US formations in Lagos.

The Barrack Obama administration is among the harshest critics of Boko Haram and recent reports spoke of America’s willingness to assist the Nigerian government in battling the group.

On the receipt of the signals, the American seat of power was said to have promptly alerted the US ambassador to Nigeria, Terence P. McCulley, advising him to ensure that the police fortifies security around all US diplomatic missions and investments in Nigeria.

The ambassador, in turn, reportedly alerted its Consul-General in Lagos, who wasted no time in alerting the Assistant Inspector-General of Police (AIG) in charge of Zone 2, Police Command, comprising Lagos and Ogun states, Mr. Chris Ola.

A letter dated December 29, 2011 and signed by the Regional Consulate Security Officer (names withheld) warned of ‘a serious threat to US missions in Nigeria’.

It requested for more armed policemen to fortify all US missions and investments in Lagos. The letter was said to have specifically mentioned Walter Carrington Street and another US office in Ikoyi Lagos.

Investigations by The Moment On Sunday revealed that the AIG has promptly taken action to fortify the missions, after marathon meetings with different security agencies on Friday.

Our investigations further revealed that more security personnel from both the police and the military were on Friday deployed to all US and British formations in Lagos. In particular, personnel from the Anti-Terrorist Squad (ATS), Anti-Bomb Squad and plainclothes detectives, are said to be among those keeping vigil at the foreign missions.

Efforts to get the AIG to speak on the Boko Haram threat and the action being taken to prevent it were unsuccessful.

@Mo_billz

Good for you and I must say you will enjoy the blitz now. However if you both end up in marriage, watch out for your hormones on over-drive when you are in your late thirties and she in late forties, then a streak of reality might stare you in the face. Watch out.

Mai people, I am in desperate need of the album "Tumi Ninu Aya Rere" from the album "Agbe kini ohun de." Anyone in the house with that beautiful album? Sweet memories stuff.

IS TRANSCORP STILL TRADING??

@All, I was going through today's listing and saw Transcorp shedding 19k (FSDH site).
I thought the stock is on suspension,
Whazapening Was there a quiet lift of the suspension or what?

After endless wait, Dangote flour finally credited my CSCS account with the peanut 5kg from the 650k worth I applied for. I don authorize my broker to sell the crumb. At least I have made 103% on the so-called crumb.
Final good-bye to anything PO, IPO, FPO (final public offer), etc,

Please, who knows when UNIC is going on TS? Abeg I need the info before I jump enter the train.
Thanks.

LondonCool:

@tkb417,

Dunlop is one of my long term "Wild-cards" and I have been stock piling it for the past 2 months, except today.I expect N5 to be its new resistance level but I am only being speculative about it and not too concerned about the price yet. I am targeting 1m units of the Stock before the year runs out (positioning myself for 2009)

Nna, no wonder the tin dear for market. Are you positioning yourself to be Vice Chairman to Napolean? Na small small we go dey identify the deep pockets in this forum.
Seriously, I think dunlop will resurrect again after the bullish season we just experienced. The rumour flying about concerning its re-engineering and turn-around is too strong not to have impact on its performance. Its management is also working arduously to effect that dream. Na so I hear o.

tkb417:

@LondonCool
Is der a possibility we can get to buy there shares? (consolidated hallmark)
i know the newly listed Insurance coys are still scarce up till now. . .

At this period, the shares will be very scarce because many would not have got their certificate, so can't trade their with their shares, just a few that would do it through the back door or from "man to man." The case of Int'l energy insurance is still fresh in memory where the price was skyrocketing but nothin wey man fit do, as certificate never arrive. All of a sudden, dem announce share reconstruction, which shifted the goal post of the ability to receive certi and trade. The rest is history.
For me and my house o, no more PO/IPO again lailai!

@All,
With the recent slight bearish trend in some insurance stocks, I think we may experience some upsurge of interest from those that couldn't buy before now. Although the fear of TS now is the beginning of wisdom for short-termers like myself, hence, steering clear of the likes of WAPIC, Crusader, etc.
The one am not sure of is UNIC. What do you think of UNIC as per TS, is it near suspension in the near future, say mid-year or thereabout? I don't want to get caught with Wema syndrome again.
Thanks.

@Pumping,
What do you think of UNIC as per TS, is it near that in the near future, say mid-year or thereabout? I don't want to get caught with Wema syndrome again.
Thanks.

crazyT:

@ Wanaj0

A no see you again for Unic flight o,, abi na you dey inside toilet (with the hostess) The turbulence seems to be deteriorate now abi?

Yeah, UNIC has regained its previous position and (I guess) on its way up. It closed at 5.94 from 5.75; no shaking we dey inside the ride together. My solace for Wema parkinson.

See Dunlop has recovered too from 5.01 to 5.10, ooh lala what a great Easter this year's gonna be.

diva4eva:

i heard that ABC trans made lots of profit last year december because of all the people that travelled for the xmas and the hike in prices during the festive period, i seriously want to buy oo but i pray my broker can get for me today.

Do you want to buy just because of the Christmas bumper? Just be careful, naija was not given the cup because they had a draw with Mali o
If for good TA and what the 7 white candles say (a la AKTopgun ), then go ahead. Just to be cautious.

diva4eva:

i heard that ABC trans made lots of profit last year december because of all the people that travelled for the xmas and the hike in prices during the festive period. i seriously want to buy oo but i pray my broker can get for me today.

Do you want to buy just because of the Christmas bumper? Just be careful, naija was not given the cup because they had a draw with Mali o
If for good TA and what the 7 white candles say (a la AKTopgun ), then go ahead. Just to be cautious.

samstone4:

@Nairalanders

Don't see myself buying any of the AP offer or rights.
The astronomical rise in its price in the last 2 months really stretches it!!
What is the development in the Petroleum marketing sector to warrant the sudden high rating?

I have booked a place on the Acorn train as my entry into that sector at a much cheaper price and with much greater scope for growth.

I know Acorn was rubbished here but my contact with the company has led me to give them the benefit of doubt on some of their forecast.

Acorn pp was closed down prematurely due to oversubscription and I had to use very long legs just to get my application in. Did hedge my bet a little due to the sentiment at Nairaland by buying less than I was inclined to originally.

Will await the AP prospectus and see their forecast - how realistic will it be?

Samstone4

Good you got the Acorn. I received the prospectus but having three certificates waiting to be verified in the last two months discouraged me not to go near any PO. Also, the jinx of money being tied down has taught me much lessons.
I think Acorn is a good buy for whoever got it to buy, but then, it is a long term venture.

What do you guys think about Eterna oil, is it a good buy now that market guru, Fola Adeola, is at the helm of affairs? I here he might pull a stunt like the AP steep rise, but does he have the fundamentals to support such rise?
AktopCan, em, AkTopgun what do the candles say about Eterna? Pls look at the white candles with seven robed elders in tow
thanks.

@Mypeace,
Please, accept my condolence for the loss. May HSRIP, amen.

@MrRisky,
Are you really serious about the Afroil bonus? Cos I've advised my broker to shed off asap. If bonus is on the way, why not CICO (not SIRO this time ) and make Easter an atilogu fanfare, I need to even visit Dubai sef!

Now see what SIRO (I like dat one) is doing to me.
I SNEAKED INTO Afroil and when bubble wan burst, I decided to RUSH OUT, but who sai, nobody gree buy the thing since Monday. Or is it a game by my broker to sell high and then reclycle the dough it to me at a low price value. Sigh!
Who wan buy Afroil? _gbanjo

loma:

@Harrisoft, softly,softly o. Stocks by Candle-light is an education, not a distraction o. DO you know how may of us have saved or gained money by this? , Just as we have people analyzing stocks using other tools, AkTopCandle,sorry akTopGun is welcome to do same here o. Abi others, i no yarn well?

Una no go kill person for here with lafta o, whoosh one be AkTopCandle!!!

Bros nna men, abeg what is happening to Guaranty Trust Assurance o, I get plenti kg tied up there and they kept on doing share reconstruction without end. Anyone with an idea of when they plan to come to the NSE? Thanks,

Hello all,
Please, when is Guaranty Trust Assurance coming for listing? Ever since their private placement and share reconstruction, nothing has been heard. Just wondering why the feet drag in coming up to NSE.

Eleven Nigerian companies including Dangote Plc are to be listed on both London and South African stock markets (Business Day).-

This is on the heels of a memorandum of understanding between the Nigerian Stock Exchange (NSE) and 13 stock exchanges across the world. It would be recalled that Diamond Bank plc was recently listed on the London stock market. Director General, NSE Ndidi Okereke, who disclosed this at the annual briefing and interactive session with the House committee on capital market, said the exchange would be going to those countries in the next two weeks to see which of the selected companies would qualify for the cross border listing.

The South African people are also looking at there own companies that match the listing requirements of the Nigerian Stock Exchange and already Dangote is qualify with ten other banks for the listing,” she said. She also said the NSE had already set up a committee to see to quoting and listing the Nigerian Stock Exchange on the New York, London, Egypt and Johannesburg stock exchanges, otherwise known as demutualization. She said this would enable Nigerians in any part of the world to be shareholders on Nigerian companies in order to create more wealth. “The reason this has not been accomplished is because the government of Nigeria called the NSE council and told us to take it easy that they didn’t think Nigeria was ready for listing the stock exchange and commercializing the activities of NSE and that the shareholders may force us into increasing our rates of charges and price our charges above the average Nigerians” said Okere.

The Director General said now that government is indicating its intention in demutualization the council of the NSE at its meeting last Friday set up a committee on demutualization of the NSE. She gave the assurance that the exchange will be completely demutualised before she lives the NSE.

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.

pumping777:

I know many will be sceptical. Just be careful and don't let greed put you profit at risk. If you have made good money, bail out. If you can of course,

If this jist is true, a full technical suspension is not impossible. That will be your money locked up indefinitely. Investigation for Naija dey take time o. See Wema.

True talk. Anytime I see that word 'Wema' I just cringe. Still grunting under 75kg of the stuff.
I don mandate my broker to shed my Afroil with immediate effect and automatic alacrity.

Now with everybody holding tight to their AIICO and stuff, wetin man go buy na? I just tire,

E be like say man go waka comot for this Afroil thing o, I no wan jam anoda Wema Parkinson
At least man don make about 90% from the thing and that one don do, Greed dey run belle.

It's as if Dunlop has bounced back to reality now after some people have raked in their profits. Let's see where it's headed with the rumour of 2008 budget analysis favoring the industry,

People, just got this from Meristem.
Nice read.

-----------------------------------------
The Nitty Gritty of Penny Stocks
By Meristem Securities


Blue Chip companies are made rather than born contrary to the perceptions of some investors. They have to work through the different growth phases/business life cycles everyone else. Unfortunately, some investors believe that the best way to ‘dig for gold’ in shares trading is by scouring through penny stocks in hopes of finding the next Japauloil, IPWA, Niwicable,C&I Leasing,Cutix in the early 2007 or Capoil, Afroil, Poly Products in recent times. Some analysts express that this is probably not the best strategy.

Understanding a Penny/Micro-Cap Stock:

Technically, micro-cap stocks are classified as such based on their market capitalization while penny stocks are looked at in terms of their price. Definitions of what stocks qualify as penny / micro-cap vary. In the U.S, stock with market capitalization between $50m and $300 m (N6bn to N36bn) is a micro-cap. (Less than $50 m (<N6m is a nano-cap.) According to the U.S Securities & Exchange Commission (SEC) any stock under $5 is a penny stock.

While all these categorizations are not outlined in any formal /regulatory documents in the Nigerian context, but generally as a norm or market perception, a stock trading at a price range of N1 and N10 is usually considered penny.


The main thing you have to know about penny/micro stocks is that they are much riskier than regular stocks. For instance, junk bonds (bonds with a rating lower than BBB) are considered a much higher risk than those of investment grade (bonds with a rating higher than BBB). In the stock market parlance, equivalent comparison is penny stocks and blue-chip.

What is the Problem with These Stocks?
Market analysts have identified four (4) major issues which make penny stocks riskier compared to other stocks. These are:

Lack of Information Available to the Public:
A fundamental principle that is always preached by many professional analysts is that the key to any successful investment strategy is acquiring enough tangible information to make informed decisions. For micro-cap stocks, information is much more difficult to find. Companies listed on the second and third tiers market are have less stringent requirements especially in relation to disclosures and filling of operational reports with the regulators and are thus not as publicly scrutinized or regulated as those on the first tier board furthermore, much of the information available about micro-cap stocks is typically not from a credible source.

No Minimum Standards:
Stocks on the Second and Third Tier Markets do not have to fulfill minimum standard requirements to remain on the Exchange. Sometimes, this is why the stock is on one of these markets. Minimum standards act as a safety cushion for some investors and as a benchmark for some companies.

Lack of History:
Many of the companies considered to be micro-cap stocks are either newly formed or approaching bankruptcy. These companies will generally have a poor track record or none at all. As you can imagine, the lack of histories of companies only magnifies the difficulty in picking the right stock.

Liquidity:
When stocks do not have much liquidity, two problems arise: first, there is the possibility that the stock you purchased cannot be sold. If there is a low level of liquidity, it may be hard to find a buyer for a particular stock, and you may be required to lower your price until it is considered attractive by another buyer. Second, low liquidity levels provide opportunities for some traders to manipulate stock prices, which is done in many different ways - the easiest is to buy large amounts of stock, hype it up and then sell it after other investors find it attractive (also known as pump and dump).

The Problem for Investors
Penny stocks have been a thorn in the side of the regulators for some time because micro-cap stocks' lack of available information and poor liquidity make these groups of stocks an easy target for fraudsters. There are many different ways these people will try to part you from your money, but here are two of the most common:

Biased Recommendations – Some micro-cap companies pay individual analysts to recommend the company stock in different media, i.e. newsletters, financial television and radio shows. Look to see if the issuers of the recommendations are being paid for their services as this is a giveaway of a bad investment and make sure that any press releases are not given falsely by people looking to influence the price of a stock.

Off-Shore Brokers– This is does not relate to Nigeria system. In the advanced markets like the U.S, under regulation S, the SEC permits companies selling stock outside the U.S. to foreign investors to be exempt from registering stock. These companies will typically sell the stock at a discount to offshore brokers who, in turn, sell them back to U.S. investors for a substantial profit. By cold calling a list of potential investors (investors with enough money to buy a particular stock) and providing attractive information, these dishonest brokers will use high-pressure "boiler room" sales tactics to persuade investors to purchase stock.

Buying These Stocks
Two common fallacies pertaining to penny stocks are that many of today's stocks were once penny stocks and that there is a positive correlation between the number of stocks a person owns and his or her returns. Investors who have fallen into the trap of the first fallacy believe NESTLE, OANDO,FIRSTBANK, WAPCO, OCEANIC, ZENITH and many other large companies were once penny stocks that have appreciated to double/tripple digit values. Many investors make this mistake because they are looking at the "adjusted stock price", which takes into account all stock splits. Rather than starting at a low market price, many of these companies actually started pretty high, continually rising until they needed to be split.

The second reason that many investors may be attracted to penny stocks is the conception that there is more room for appreciation and more opportunity to own more stock. If a stock is at N2 and rises by N1, you will have made a 50% return. This together with the with the fact that a N20,000 investment can buy 10,000 shares convinces investors that micro cap stock are a rapid surefire way to increase profits. For some reason, people think of the upside but forget about the downside. A N5 stock can just as easily go down N2.50k and lose half its value. Most often, these stocks do not succeed, and there is a high probability that you will lose your entire investment.

Conclusion

Sure, some pennies might be of good quality, and many Second and Third Tier Securities are working extremely hard to make their way up to the more reputable First Tier Securities. However, the flip-side is that there many good opportunities in stocks that are not trading for pennies. You need to understand that this is a high risk area that is not suitable for all investors. If you can not resist the lure of micro-caps, make sure you do extensive research and understand what you are getting into.

ty_ademolu:

I THINK ONE OF THE ONLY PEOPLE THAT CAN WRECK YOUR STOCK MARKET BUSINESS IN NIGERIA IS YOUR STOCKBROKER,

I WANT EVERYONE HERE TO HEAR MY EXAMPLE.

I HAD DUNLOP, LASACO AND FIRSTBANK IN MY STOCK PORTFOLIO LAST WEEK, SENSING THE BEARISH RUN ON THOSE SHARES, I INSTRUCTED MY BROKER TO SELL THOSE SHARES THIS MONDAY.

ONLY FOR ME TO FIND OUT THAT THE MD (WHO SUPPOSEDLY GOES TO THE FLOOR) HAS TRAVELLED TO ABUJA, AND THEY DONT KNOW IF HE HAS CARRIED OUT ANY OF THE ORDERS, THE PERSON IN CHARGE OF THE MANDATE SAID THAT THEY EMAILED HIM ALL THE ORDERS, BUT SINCE HE IS OGA THEY CANNOT SAY ANYTHIN BUT WAIT.

NOW MY DUNLOP GAIN HAS WIPED FROM 23% TO ALMOST A LOSS, LASACO HAS WIPED FROM 99% TO ALMOST 70, AND FIRSTBANK HAS LOST 5% CONSECUTIVELY IN 2 DAYS.


WETIN I SUPPOSE DO? NO BE BANK WEY I FIT JUS ENTER WITHDRAW ALL MY FUNDS. WHICH KAIN RUBBISH BE THIS EHN?

CAN ANYONE RECOMMEND A GOOD BROKER FOR ME NOW? I HAVE AN ACCOUNT WITH ZENITH SECURITIES, ARE THEY RELIABLE?

I feel your pain. I had the same experience way back until August last year when I had to junk the "kiosk broker" I was using for Zenith Securities. They were recommended by a close pal. So far they have been good and reliable. Online presence (you see the status of your stock profile, transactions so far, trades, sell/buy order buttons, etc), same day mandate execution (if available on the floor), advisory services, web daily stock reports, etc.
You need 5m to open an account but may be reviewed (lower) if you have a good case to present.

Also my people, my Dangote "money-back" has been credited into my account at last. I heard my money was paid into Zen Sec account using "wired money number" instead of my name, hence the mix-up and delay. Thanks to Savvylanre for the inside link, much appreciated,

dollyp1cute:

Discussion of this development takes place on The Money Show of This Morning on AIT (local and BSkyB - Europe).
********************************

In the first of apparent moves to re-instill public confidence in financial reporting, SEC has ordered the freezing of accounts of the sacked management of Cadbury Nigeria Plc.

=truncated=

WATCH THE MONEY SHOW today on AIT with Boason Omofaye as we discuss this developments and more, Time: 10am to 12 noon,

Thanks for this notice. I really enjoyed this program on AIT during my vacation: the objective analyses of the stockmarket, interviews that are insightful as well as projections. Keep up the good work Boason and the lady (always on the floor giving live stock prices).

DUNLOP

Heard it from one of the stockbroking firms that Dunlop might take off, that the govt might ban importation of tyres favouring the local producers, but then Dunlop is the only one right now.

Can someone confirm this?
Thanks.

.

Salvage:

My Brother you get am . Na real Breakage firms them be.

@Flaky, like water off a Hippo's back?

It just seems to me that you have some other issues in here.

Do you perhaps, know pumping or any other person outside of this forum?

I have seen his comments that he highlighted in bold.

There was absolutely nothing wrong with it. There was no attack(nor criticism) on any of the companies.

Just a decent and truthful observation.
That you sent the feedback to them and them "sorting out" the problem, means he was stating things as they were as opposed to mere criticsm.

Whats up with you?

I just tire for the guy, I pray he sheds off the unteachable toga and learn tolerance.
Zenith has been "showing me" for the past three weeks by holding on to my Dangote "money-back" and someone here is telling me zenithsecurities is being pulled down. Who's pulling who down, hen?
When you call the ladies on their frontdesk, they just act as if they were employed that same day, confused, then telling you to call back at 6:30pm when the broker must have come back, when in fact they will refuse to pick up the phone at such a time.
So, tell me who's pulling who down? I just tire for some naija sha!

As a reminder, the following may go on TS soon:

Mutual Benefit
Law Union
Staco
Standard Alliance
Crusader
Niger insurance
and Wapic.

Beware! Don't want you to be like me, still licking my Wema wound.

SavvyLanre:

@4wheel - with mandates, i think you should complain, But, regarding the crediting of account - i had to beg them to credit my dangote flour peanut money into my account.

@all - please, i can't find the message with the Dangote Flour allotement again - can anyone help?

Were you reading my mind?
In fact, it was my Dangote "money-back" I have been telling them to credit since two Mondays ago. I have now decided to escalate it to their MD level. ~600k no be small money! To cap it all, dangote gave me pittance amount of shares.
No more PO for me, 4EVER! I have seen the light

I heard from a good source that Wapic is due to go on TS soon, so beware. I heard they were targeting N15 but with the slow trend in its upward move, time may be running against it before its PO is due.

Whaz zenith securities up to these days, they seem to need more hands in handling their mandates and crediting of accounts. They are becoming too slow these days.