₦airaland Forum

Hey Guys, I responded to this thread some years ago. I went back now to do some more digging and it appears the www.neliss.com guys are still in the North Central axis (Makurdi) which is where you have most of the export depots from which most FMCG, cosmetics, fashion, beverage, etc., manufacturers export to northern Cameroon, Chad, Sudan, Niger, Burkina Faso, etc. Makurdi is the middle point between Lagos and the African Sahel region. It appears that Neliss prospects for exporters all across West and Central Africa, but because the FMCG volume that goes to the Sahel region was a lot more than what goes to the coastal West/Central African regions, Neliss moved their head-office to Makurdi while still maintaining a slight presence in Yaba, Lagos.

Speak for yourself. For yourself and Ex-convict Bode George only ... Hahahahahahahah ! Ye ye dey worry you ...

I knew you would want to use that as your easy escape route by saying that I am probably Yoruba and claiming to be Ibo. If you want me to prove to you I am a full complete Ibo from Ekwulobia I will give you my whatsapp number and we will converse in Igbo for as long as you want. In any case, I am not here to prove anything to anybody but just to make my point.

The angry and disgruntled Ibo PDP people should not try to make all Ibos hate TINUBU because TINUBU has not done anything bad to we Ibos. He never uses his political might to oppress Ibos in Lagos so why should we hate him ? Why ? why ? why ?

HIGHESTPOPORI:
As for tinubu, he is free to contest against a northern candidate from the North in PDP.

YES ! This is the spirit. If you don't want TINUBU as your president then make sure you do not vote for him. Let those who see him as talented vote for him. But trying very very hard to demonize him and make the whole country hate him just for your own selfish ANGRY-PDP kind of reasons for me is downright stupid and unpatriotic.

Personally, the only people I see or hear demonizing him are selfish people who have missed out on the largesse in Lagos and are trying to get back at him by tarnishing his image. Apart from Bode George, most people have very nice things to say about him. Yet my fellow ibos want us to believe he is not qualified so that we will be fooled and vote the PDP thieves back into power for them to squander our national resources all over again. Abegi !

Burruchaga71:
Trash as usual. Why can't Yorubas elect Tinubu to preside over Oduduwa Republic.

My guy, you're nothing but a bitter PDP guy that is still pissed off with TINUBU that he cut short the partying and frivolous spending spree with Jonathan for you guys. You people should allow Nigeria be and stop trying to make us hate TINUBU who has done us no wrong. On the contrary, he has done us a lot of good by not perturbing our lagos-domiciled businesses.

I am a pure ibo guy. Raised in Lagos but now residing in the EAST. I have nothing against TINUBU and if he wishes to aspire to the highest position in the land and is qualified to do so, then I wish him well ..... na my own be that !

I am from the EAST... very much from the EAST, but I know for sure that BAD BELLE disgruntled people will do everything possible to prevent Tinubu from setting Nigeria on the path of greatness. As it is, TINUBU is clearly the only politician of his generation that can stabilize Nigeria now. I am saying this based on his tested and proven antecedents as a prolific accountant, manager, builder and trader. All the wicked people fighting with fraudster BODE GEORGE, deposed AMBODE etc to ensure this does not happen are simply waiting their time. I really see Tinubu taking Nigeria places if allowed to do so.

AIICO Insurance Plc 2020 Bonus Issue: Fear Of An Unfair Outcome

BY NICK V. DODO (FCA)

On 29 December 2020, AIICO Insurance Plc (AIICO) listed the rights issue of 4,357,770,954 ordinary shares on the Daily Official List o the Nigerian Exchange (“the Exchange”). The rights issue is the first of a two-Phase strategy AIICO adopted to comply with the NAICOM circular of May 2019 on the compulsory recapitalization of insurance companies. The second phase as disclosed by AIICO board company chairman, is the issuance of bonus shares to increase the paid-up capital.

To jump start the second phase, the board, on the strength of audited financial account for the year ended 31 December 2019 declared to its members a bonus of One (1) new share for every five (5) held as bonus. The qualification date was 23 September 2020. On 19 November 2020, AIICO further declared an additional bonus issue of one (1) new share for every five (5) held with 30th November 202 as the qualification date

Incidentally within the period the first bonus declaration to date AIICO has, using the Exchange portal, made series of announcements that if care is not taken are misleading and could skewed to the comfort of its major shareholders bonus issues to the disadvantage of its minority shareholders.

As a prelude necessary to an understanding of this write up, AIICO has as at 24 August 2020 a total issued and fully paid 11,330,204,480 ordinary shares of 50 kobo each. Of these, 4,516,206,099 ordinary shares constituting 39.86% are held by minority shareholders. Four (4) major shareholders hold in total 6,813,998,382 ordinary shares representing 60.14% of the issued and fully paid ordinary shares

To execute the phases 2 strategy AIICO on the strength of the year ended 31 December 2019 audited accounts declared on 11 June 2020 a bonus of one (1) new ordinary share for every five (5) held while, on 29 November 2020 the board further declared an addition bonus of one (1) new share for every five (5) held as at 30 November 2020. The main concern is the process or method AIICO took to execute two declared bonuses. The steps taken leaves much to be desired and is capable of shortchanging its minority shareholders.
The following are some announcements AIICO sent out vide Exchange portal within the year 2020.

1. On 11 June and 16 June 2020, AIICO declared vide the Exchange portal a bonus issue of one (1) new share for every five (5) ordinary shares. The qualification date for the bonus was fixed as 23 September 2020.

2. On 23 September 2020, the Exchange as stated in its Weekly Report, marked down (as ex-script) the share price of AIICO to 86 kobo from 89 kobo per share. This means the issued and fully paid shares in AIICO has increase by the bonus proposed.

3. On 19 November 2020, the board of directors further announced an additional or second bonus out of share premium of One (1) new share for every Five (5) new shares held. Qualification Date was 30 November 2020.

4. On 01 December 2020, the Nigerian Stock Exchange accordingly marked down (ex-script) the share price from N1.02 to 92 kobo per share.

What then should be a clear resolution affirming the two bonus declarations, the 50th AGM passed as Special resolutions that radically altered the AGM Proposed resolution. This is where the likelihood to shortchange the minority shareholders came in to the effect that: –

1. The AGM changed the qualification date of the first bonus from 23 September 2020 to 28 December 2020 not withstanding the fact that the share price of the shares of AIICO were marked down on 23 September 2020

2. The AGM brought in and to be included in the second bonus declared, the right shares of 4,357,770 Ordinary shares of 50 kobo each at 80 kobo per share to benefit in the second bonus declared on 19 November 2020. One should note that the Rights shares as at the date of the declaration have not been allotted, approved by the Securities & Exchange Commission and made public through newspaper publication.

At this stage one will brings forth some critical questions on the AIICO AGM resolution of its 50th AGM as relayed in (4) above

1. Can the AGM of a company change the qualification date for either a bonus or a dividend after the NSE has marked the share price of the said stock?

2. How is the Rights Shares a factor now? The Notice of the AGM made no mention of the Right Shares as beneficiaries of the bonus. But it was discussed and the rights shares made to benefit in the second bonus declared. Further question include can an AGM discuss a matter not listed as an agenda for the meeting? To the later question the simple response is, only what is listed as the business of the day in the Notice of an AGM can be discussed at an AGM.

Trying to understand the quantity of shares AIICO issued as bonus to shareholders is fuzzy and oblique. One need to go through the Nigerian Stock Exchange Weekly Report for 25 September 2020 and 1 December 2020 to properly understand the concern expressed herein

For the first declared bonus with 23 September 2020 as the qualification date, a total of 2,266,040,896 ordinary shares of 50 kobo each were added as bonus to shareholders of AIICO in the register of members as at the close of business on 23 September 2020. The bonus when added to the pre-bonus 11,330,204,480 Issued and fully paid ordinary shares brings the total issued and fully paid 13,596,245,376 ordinary shares of 50 kobo each

For the second declared additional bonus with 30 November 2020 as its qualification date, a total of 2,719,249,075 bonus ordinary shares to members in the register of shareholders as the close of business of 30 November 2020. This brings the issued and fully paid share capital to 16,315,494,451 ordinary shares as at 01 December 2020. All the company needed was to regularize the board approval of the said quantities of shares at the 50th Annual General Meeting of 08 December 2020

Possible case of market abuse most likely when AIICO brought the rights share to benefit in the second bonus declaration. The rights circular was clear that the rights shares issued shall only qualify for any dividend (or any other distribution) declared for the financial year ending 31 December 2020 NOT YEAR 2019. Why should AIICO on 19 November 2020 announcement on the Exchange portal include the rights shares as beneficiaries of the second declared additional bonus. This is not appropriate and not in the interest of minority shareholders. One even doubts if the allotment proposal for the right had been approved by the Securities and Exchange Commission. The rights shares have no right to any distribution to shareholders from the audited financial statement for year ended 31 December 2019

The execution of the recent AIICO bonus declaration leaves much to be desired. As it is, many shareholders cannot come up independently with the number of ordinary shares a shareholder will receive as bonus from the first and second bonus declaration. First the inclusion of the rights shares as part of the bonus completely further created a blurred picture of the outcome and secondly the change in closure date ordered by the AGM in both the first and the second bonus also creates an unfair trade situation. The consequences include taking lawful shares from some shareholders that sold ex-script, their earned bonus shares t and confer same on shareholders who bought ex-script, bonus shares they neither deserved. As it is no one truly knows the direction the Registrars will take to implement the two bonuses declared. One only hopes the regulators – The Nigerian Stock Exchange and the Securities and Exchange Commission will step in to save the minority from possible shortchange.

Mr. DODO is an Independent Financial & Investment Analyst and can be contacted via: nickdodo@live.com

https://forefrontng.com/aiico-insurance-plc-2020-bonus-issue-fear-of-an-unfair-outcome/

The guy is super humble that's why he rose quickly.

This life is so unpredictable. Nobody knows tomorrow !

It also sounds like its from Bakassi

Adesina is a fine man and he is representing us well. Please you guys should leave him alone to do his work

He truly isnt in any position to do so.

He is obviously not new to this. His steps are well aligned.

Any new ideas as to how to trade safer and faster ?

This is so unfair. I wonder why some people are so heartless.

Xigima:
The name sounds like a Plateau State name but it appears it is actually Scandanavian from his mother's side.

RIP to George

It sounds more like a Rivers state name.

exposition:
Which part of Nigeria bears that surname?
I just want to confirm please

The name is his mother's name. She is white while his dad is Nigerian

RonaldoVido:
The other cops only lost their jobs.

The only cop being prosecuted for his killing is the white cop who knelt on his neck.

All the cops are been prosecuted in addition to losing their jobs. But they are been prosecuted according to their levels of involvement in the mishap.

Kriss216:
He's an American!

He's American by birth, but dont forget that origin is what matters most. By origin he is NIGERIAN ! And as it is, he can carry a Nigerian passport if he so desires.

mysticwarrior:
I can't really figure what ethnic group in Nigeria bears the name 'kung' can somebody, anybody tell me something I don't know?

"Kueng" is not his dad's name but his mum's maiden name. He was named after his mum's family.

The is really shocking. But how come no mention is made of which part of Nigeria his dad was from.

Ship your Car, Goods and Household Items in Neliss Canada's MONTHLY CONTAINER from Montreal, CANADA to Lagos, NIGERIA. The next Container leaves on August 05, 2020 !

www.canadanigeriashipping.com



https://www.youtube.com/watch?v=vjvs-L2sfbE

I wish most Nigerian homes will be conscious of this.

What Is The Healthiest Oil For Deep Frying? The Crispy Truth

Deep-fried foods have always been popular.

They are a part of many traditional cuisines, and are also a staple of the fast-food industry.

Unfortunately, deep frying is not exactly the healthiest cooking method, particularly when done on an industrial scale.

But deep frying at home certainly does not have to be unhealthy.

It largely comes down to the type of oil you use, and how you use it.

How Does Deep Frying Work?

Deep frying involves submerging a food in hot oil.

The ideal temperature is around 350–375°F (176–190°C).

When a food is submerged in oil of this temperature, its surface cooks almost instantly and forms a type of "seal" that the oil cannot penetrate.

At the same time, the moisture inside the food turns into steam, cooking the food from the inside. The steam also helps to keep the oil out of the food.

If the temperature is too low, the oil will seep into the food, making it greasy and sickening. If the temperature is too high, it can dry out the food and oxidize the oil.

Bottom Line:
Deep frying works by submerging a food in hot oil, which instantly cooks the surface and traps the moisture inside the food.


The Stability of Cooking Oils Is a Key Factor

Some oils can withstand much higher temperatures than others.

We want to choose oils that have a high smoke point, and we also want oils that are stable and don't react with oxygen when heated.

The more saturated the fats in an oil are, the more stable they are when heated.

For this reason, oils that are mostly saturated and monounsaturated are best, but we want to avoid cooking oils that contain large amounts of polyunsaturated fats (1).

Polyunsaturated fats contain two (or more) double bonds in their chemical structure. These double bonds tend to react with oxygen and form harmful compounds when exposed to high heat.

Taste obviously matters as well. When deep frying, oils that have a "neutral" flavor are generally preferred.

Bottom Line:
It is important to choose oils that consist mostly of saturated and monounsaturated fats, because these are the most stable at high heat.


The Winner: Coconut Oil Is The Healthiest Oil For Deep Frying

Coconut oil is your best choice overall.

Studies have shown that even after 8 hours of continuous deep frying at 365°F (180°C), its quality does not deteriorate (2).

Over 90% of the fatty acids in coconut oil are saturated, which makes it very resistant to heat.

Saturated fats used to be considered unhealthy, but new studies show that they are a completely harmless source of energy for humans (3, 4).

Additionally, coconut oil has numerous health benefits. For example, it can help kill harmful bacteria and viruses, and may even help you lose belly fat (5, 6).

Keep in mind that some varieties can leave a coconut flavor or smell, so I recommend that you try a few different brands until you find one that is suitable.

Bottom Line:
Coconut oil is very high in saturated fats, and is proven to handle hours of continuous deep frying without any changes in quality. It also has numerous health benefits, making it the best choice overall.


Several Other Good Choices

There are several other good options to consider.

Olive Oil

Olive oil is one of the healthiest fats on earth.

It is very high in monounsaturated fatty acids, which have only one double bond.

Like saturated fats, monounsaturated fats are highly resistant to heat.

One study found that olive oil can be used in a deep fryer for over 24 hours before it oxidizes excessively (10).

In theory, this makes it a great choice for deep frying. However, the flavor and fragrance of olive oil may not hold up well when heated for a long time.

Avocado Oil

The composition of avocado oil is similar to olive oil. It is primarily monounsaturated, with some saturated and polyunsaturated fats mixed in.

It has an extremely high smoke point (520°F/270°C) and a slightly nutty taste.

Peanut Oil

Peanut oil, also known as groundnut oil, has a high smoke point of about 446°F (230°C).

It is very popular for deep frying because of its neutral taste.

It also does not absorb the flavor of food, so it can be used repeatedly to fry different foods (11).

From a health perspective, however, peanut oil is not very desirable.

It is relatively high in polyunsaturated fats (about 32%), which makes it vulnerable to oxidative damage at high temperatures (12).

Palm Oil

Palm oil consists mostly of saturated and monounsaturated fats, making it a great choice for deep frying.

The flavor is said to be quite neutral, particularly the unrefined variety known as red palm oil.

However, serious concerns have been raised about the sustainability of harvesting palm oil.

Bottom Line:
Olive oil and avocado oil are both good choices for deep frying. However, there are some problems with peanut and palm oils, so they are not recommended.


Fats and Oils That Should Not Be Used for Deep Frying

There are several fats and oils that you should definitely not use.

This includes industrial vegetable oils.

These oils are extracted from seeds, and need to go through very harsh processing methods.

They are high in polyunsaturated fats, with a terrible omega-6: omega-3 ratio, and up to 4% of the fatty acids in them are toxic trans fats (13).

Not only should you avoid them for deep frying, but you should make an effort to avoid them altogether.

This includes, but is not limited to:

Soybean oil
Corn oil
Canola oil (also called rapeseed oil)
Cottonseed oil
Safflower oil
Rice bran oil
Grape seed oil
Sunflower oil
Sesame oil

Using these oils for deep frying is likely to result in large amounts of oxidized fatty acids and harmful compounds (14).

Avoid them like the plague.

Bottom Line:
Industrial vegetable oils are unhealthy. They are unsuitable for deep frying because of the high amount of polyunsaturated fatty acids.


Deep Frying Still Adds Calories, so Don't Do It Too Often

Compared to other cooking methods, deep frying will add a lot of calories.

The extra calories typically come from any batter used (such as flour) plus the oil that sticks to the food after cooking.

One example:

Deep-fried chicken wing: 159 calories and 11 grams of fat (15).
Roasted chicken wing: 99 calories and 7 grams of fat (16).

It is not surprising to see that consumption of deep-fried foods is linked to weight gain, especially in people with a family history of obesity (17).

To minimize the extra calories, be sure that the food is cooked at the right temperature, and not longer than necessary.

Take Home Message

Ever since fat was demonized, deep frying has had a terrible reputation.

It is true that with the wrong oils, such as harmful vegetable oils, deep-fried food is most definitely bad for you.

But with the right oils, you can enjoy the occasional deep-fried treat (preferably home-made) without the guilt.

For certain foods, it can take the flavor to a whole new level.


https://www.healthline.com/nutrition/healthiest-oil-for-deep-frying#section8

I tried #8 yesterday and boy was it a huge relief !

I believe this is quite important because most people, especially new comers, are not sure of what to do when in such situations.

This is very good information to keep handy. We need a better smelling environment in Nigeria.

This is funny oo. Cant there be another way around this ?

Yes, you're right but when I called one of my fellow test writers, he said he "heard" the sales director said a "true" sales manager would not need more than 20 seconds to pick the right answer. This left me shocked as it gives the impression that there is more to the question than meets the eye. Besides, its days now and neither of us that picked the same answer has been called for the next stage. Has anyone gone through a similar experience ?

I feel there is more to this