Aporo:

@Wanajo

I never had issues with Access MD or DMD being a part of the committee. My attempt was to clarify the over-riding importance of the Board Audit Committee over the other Audit Committees set up by the Company. Its a norm for non-executive directors to chair and indeed dominate the proceedings of the audit committee for objectivity and independence sake.

I reiterate my appeal to condemn willful and intentional contravention of valid laws under any guise. If indeed CBN is at the root of this, i will suggest that other legal alternatives besides engendering contravention of valid laws by Banks be explored. Nigeria's long term interests will certainly be served if this institutional anomaly is rectified with dispatch!

Sorry if I misunderstood you!!!! The nalyst report made an issue of the MD/DMD being members of the audit committee.

Yes willful contravention of laws should be condemned. However, some laws are outdated because they do not take into consideration current realities. CAMA and BOFIA did not envisage the current consolidation. Do you think that shareholders will support mergers if they know that they will not receive dividend for 5 years? Do you think the weak banks will have any bank to acquire them if CBN did not provide a way out? Man is not made for the law, the law is made for man! Aterdo Peterside pointed out this kind of conflicts as part of the reasons why he was not in support of the schedule of the consolidation exercise! He expects ammendment of the laws to take care of issues like this.

CBN regulates the banks and seems to be pleased with the treatment of the goodwill. The courts also sanctioned it! For teh other contraventions, banks were duly penalised as contained in the rule book.

@Wanajo

Good thought man and i agree with your posers!!

With the benefit of hind sight, the amendments to BOFIA and CAMA should have been driven through the Senate and House of Representatives by the CBN before the consolidation was allowed to take of. The effects of that omission as we have seen is dire and unfortunate.

My underlying concern is that good procedure (on CBN's part) seem as is usual in Nigeria to have taken a back seat again and regrettably!!

Thank God I have not filled my form. What with all this confusion,

Aporo:

@Wanajo

Good thought man and i agree with your posers!!

With the benefit of hind sight, the amendments to BOFIA and CAMA should have been driven through the Senate and House of Representatives by the CBN before the consolidation was allowed to take of. The effects of that omission as we have seen is dire and unfortunate.

My underlying concern is that good procedure (on CBN's part) seem as is usual in Nigeria to have taken a back seat again and regrettably!!

It was an oversight!!!! CAMA was to regulate all industries while BOFIA was specifically for banks. Hence it was difficult to see the potential conflict. Moreover, knowing how long it takes to get bills through the National Assembly, trying that then would have killed the consolidation programme. Note that the National Assembly was not favourably disposed to the consolidation programme.

That said, the banks proposed a middle of the road ground which was acceptable to CBN and other stakeholders.

Hopefully, going forward as a nation, we will learn to follow procedures and pay attention to details

to be or not to be ??

Michaeli:

to be or not to be ??

A Matter of personal choice

cheers

You are very correct,
My personal take - NOT TO BE,

Save your hard earned dough for DANGOTE next month.

(Personal opinion please)

very interesting.

Some of us have been following the stock market for quite some time.I don't doubt the fact that there might be some thing fishy about the ACCESS Bank's Financial report.But look most of our Banks have a way of cooking up their books and influencing their stock price shortly bofore they go public so why should ACCESS Bank be singled-out.If you have any doubt go to www.cashcraft.com,go to market analysis and click on stock price movement.Set over a 1year period check stock price movement for ACCESS, UBA, OCEANIC, INTERCONTINENTAL AND FIDELITY Bank.You will observe this sharp price appreciation shortly before they went on technical suspension. Even FCMB is on a sharp rise now because they are going public soon.To my own opinion investing in ACCESS Bank is as risky as investing in OCEANIC, UBA OR INTERCONTINENTAL Bank who are not doing badly anyway.So please GET ON BOARD!

Yah icon4s,

I have observed your point.That was a smart one.So ACCESS is not the only culprit after-all.And hey! you were right about FCMB cos they just went on tecnical suspension today!Investment is all about taking risks.I''ll buy ACCESS BANK.

Hey people, i believe that access has good prospects, since i am personally buying into it, and i have some great products to sell to them, which is going to get them more deposits than they probably plan to manage. the deal is, if you are holding the stock of a company, you should be sacrificing and developing to ensure that the company makes good returns and pays good dividend, coupled with bonus issues and share price gains. nThis is the true secret of investing, anybody rememberthe story of uba and bello-osagie. that is the trick, innovate to increase the value of your invetment, and probably make some extra money selling the idea or whatever to the company, kabish.

@all,

Access bank is nt good ,acess bnk is bad,access bnk cooked their result.weda access bnk is good or bad or cooked/boiled/fried their result,me i hav bought into d PO wit 0.5million naira.

d same tin dey said about AFROIL dat it lacks good fundamental,had it bin i listen to dem i would hav missed d N2million net gain i made from it some months back after sellin it.

D PO is closing tomorow,29/08/07.if u are still skeptical about it u can invest little moni into it,so as nt to lose out completely ,assumin the share turn out to b good in future.rmemeber stock investmnt tip dat says "don't use past record to judge share future performance"

Enuff xaid

Nigerian forcast wrong and criticise thing when they have personal hiding issues

I did the same jare i put in .5m and even read the offer has being extened for another 2 weeks.

HI guys,

If you are interested in Purchasing access bank shares please contact me and I can get the Application forms across to you.



I work in a stockbrocking company called Citi Investment Capital we are located at 47a Glover Road Ikoyi. We are one of the recieving agents to the offer. Looking forward to hearing from you.   www.citiinvestcap.com

please lets remove sentiments before passing judgements.

ok access tried to take over afribank and failed but at least they tried.for me i think mr analyst is just baised.

and why is this post coming now when millions of nigerians have committed alot to the offer?

besides if access is all a sham how come they are getting facilities from international organizations like the international finance organization and other banks abroad.

my candid opinion is this:

PEOPLE DESPISE WHAT THEY CANNOT CONQUER!
CHEERS!

Please read attached of the Opinion of the independent auditor

is Dangote shares now in the pubic domain? where can i get forms to buy into the shares? thanks.