₦airaland Forum

tonyjon:
@bigjay01 and naijadr,

Did you guys receive any mail from UBA PLC Vice president/COO?. I got a letter from him today as regards the mode of operations of UBA Stockbrokers Ltd.

The MD forwarded my letter to him and he replied. He said they have already started working on their Internet portal(on-line services) and it will start functioning very soon.

Peace.

I didnt. maybe he is still in a meeting (after 72 hours and counting)

Rhemagirl:
Please all the gurus online ,kindly advise me as to how trading goes on even with a technical suspension on a stock because i have seen it happen several times and i wonder what shares are being sold since there is a technical suspension

read the last 4 -6 pages, this qquestion was answered. Ok (TS is on price movements not on the stock itself)

hbrednic:
@KPINEO & bigjay01
please make una hit us with the uba's net bid and offer positions.

ahh, dat one de come later in the evening. dem never send am ooo

pumping777:
Ha. This is your captain speaking on the PHB Turbo Jet flight from money to more monies. Please wear your money belts so you have free hands to collect the next set of dough

I miss that flight oooo, I been go buy CHAMS ticket, before I come back the plane don take off, I hope say e go transit somewhere. ahh me I go hang for fuselage oooooo (if my hand reach am)

pumping777:
It has ben updated.

http://www.cashcraft.com/pricelistprint.asp

Use the refresh button on your browser.

The attachment i post earlier 'Pricelist_16012008' is very correct. I got it from trw stockbrokers. check the price of PHB, u can c its no longer on TS.

MyPeace:
go here for the real today's price.  compare it with your attachment.
http://www.cashcraft.com/pricelistprintorder.asp

i've checked and double checked no difference, how come no one else is complaining?

MyPeace:
@bigjay

what u attached is yesterday's price.

na lie oooo, check zenithsecurities / trw stockbrokers websites. Unles both of them are wrong

price list for today

RoughCut:
Are you talking about Angola or Romania and Bulgaria? Bulgaria and Romania are EU members and Angola is in Africa.

don't i sound dumb, I should've known better. one of those momnets when your fingers and your brains are not on the same page or wavelength

RoughCut:
If you want to be more adventurous Angola and SA(remember world-cup 2010?)is pushing up property prices in the capetown area  are red-hot. You might want to explore.I'm particularly excited about Angola _{property investment and stocks sometimes feel better than you-know-what to me} Did i just say that?

oh yeah i was thinking about releasing some equity on my property for Bulgaria, I have a friend put a massive pressure on me to do it 3 years ago. I guess now they've joined EU. I guess EU will 'shield it somehow. I see another exponential growth in this area. The kind we saw in UK in the recent past.

Holla at jazzyjay6789 at hotmail dot com

Naijadr:
Both, had 1 purchase through brokers, they didnt respond, I sent a reminder, got only a "Received" from them. They didnt deem it worthy to even construct a full sentence.
I sent a sale order through rep, still nothing, even just emailed him a reminder
Wish I had signed up for CSCS online service a long time ago, at least I would know whats going on, oh well at this point its either BGL (they are trying to negotiate the lower minimum for me) or Vetiva for me. Vetiva emailed me back this morning.

what if they dont give you an update on the day it was purchased and they came back on another day to say it was purchased at a price of 1.05 times the original purchase price, the same with selling price 0.95 multiplied by the orignal selling price.

Am I being 2 pessimistic? I can't put it past them

tonyjon:
Naijadr,

How u dey?. Any news from UBA Stockbrokers ?. I sent a mail to their MD (Haruna Jalo-Waziri) this morning, I believe things will change for the better very soon because I was informed that a lot of their customers are complaining about their services. Yet to hear from Vetiva.

Peace.

Did you get the mail I forwarded u, did the MD reply to your mail?, I am yet to hear from him as he promised. Maybe he is still in a meeting after 24 hours. Can i cu what u sent him?

Rhemagirl:
Please i need somebody to explain why Trading goes on when there is a technical Suspension on a particular Stock. I see this happen several times and i would like to know the reason.

Also i wish the baby Nairalander perfect health in the name of Jesus

As i understand it, the TS is placed on the price movements for the stock not on the stock itself. Hope I am right

tonyjon:
Bigjay01,

Please, send his(MD) contact address to me and also forward the e-mail to my box , jontony20 at yahoo dot com

Peace.

both email addy are on the original email (sent 2 your yahoo acct)

aktopgun:
for the christians in the house keep tobechukwu in your prayers tonight and this week.

Aktopgun, a very special prayer for your son. This is an adaptation of a very powerful prayer, no be moi-moi ohhhh

"Jesus Tobechukwu Loves you,
all he has is yours
yours he is
yours he wishes to be
do with him whatever thou will"

Tobechukwu (keep praising God) You wan try. Na lie God is in control.

@

Abeg make una see market report jare. Make una no mind me I don vex for UBAS

NBA:
UBA Stockbrokers

Guys,
I was hoping to keep the conversation on the other thread but it doesn't really matter now, boys don vex already!

OK, from what I understand, the NRN folks were instructed to only move money from the current/checking account to the Stockbrokers - the only reason I believe is to make more money for UBA. You do not need to have an account with UBA to use their Stockbroking service.

I contacted UBA Stockbrokers directly and you can transfer the money to their account directly, the email response is attached with the account number. As I mentioned on the other thread, I only use the savings product  most times though I have the current and domiciliary accounts.

My opinion though is deal with the Stockbroking folks directly. The NRN reps don't need to be involved. However with the complain of slow execution mentioned here and lack of on line access , I may not fund that account

If you have complaints, you can send it to this guy. He was in charge of the NRN product a while back.

Chidi N. Okpala

Head, NRN Banking & Remittances Division

United Bank for Africa (UBA) Plc I UBA House I 15th Floor

57 Marina -  Lagos , Nigeria

Office: +234 1 264 4652 - 700, EXT 15558 I DL:+234 1 270 4494 I Fax: +234 1264 4769

chidi.okpala at ubagroup dot com

oh boy my relationship officer vex for and told me not to ever contact her for any stock broking business. She said she would only deal with me only to transfer money between my current account and capital mkt account (COT) this is only because i vex because say she no de give me updates about my mandates. I had a mandate executed on 24/12, up to 31/12 she hadnt told until I called the brokers directly.

e be like say i go fashi dem both NRN, stockbroking and everything to do with them, only in nigeria can such things happen.

Imagine, b4 i get home this evening there will be 'thousands' of letters from companies offering you all sorts or goodies just to sign up to them for one thing or the other, but in 9ja i have to offer companies all sorts of things to be nice to me.

tonyjon:
I have a large portfolio with them(UBA) that is why am a bit disturbed. I have made up my mind to go with Vetiva  and then try to transfer my portfolio later. I was about injecting #1.2m today for First bank but with all these their nonsense, I decided to stop. I will use the money to open a new account with Vetiva.

Just keep me posted if there is any new development.

Peace.

I sent a polite email to the MD / CEO MR. HARUNA JALO-WAZIRI and copied Bode Adesegha Head, Trading Unit. I can forward you the email if you send me ur addy). Mr Haruna replied promptly but said he was going into a meeting but is willing to look into it. I guess if all nairalander (especially NRN / UBAS users)  bombard both of them with emails, they might take notice.

Naijadr:
@bigjay, I completely understand your anger, and that was why once I got enough money in hand to meet the minimum of the bigger companies now, I'm switching, more than likely signing up with either Vetiva, FSDH or BGL within the next week or so! UBA is good for those who just want to start of, not traders now that u and I have become, you only lose money. No point emailing the brokers, I did and all i got in response to a purchase mandate I sent to them was "Received", nothing else o, not even a complete 1 line! LOL at least the rep officer will give me better response, even ifg its to say I havent heard from the brokers I'm still signing my younger sister with them because her stuff will be long term and the N250k minimum is good, but I'm jumping ship with my larger portfolio.

@tonyjon they havent responded to my 2 emails just yet, I hear they don't respond to emails at that general email address that its best to call them, I'm about to just go ahead and call them. I wanted to contact my cousin at BGL who's a manager there for years but I don't like that they take 10% off your profits, pumping or any using them abeg can u confirm that?

If i knew this in enough time, I wouldn't have signed up to UBAS, the 5m wouldnt have been been a problem, I made assumptions and moved all my money with them. Will any of the ones you mentioned accept stocks / cash as part of the minimum deposit?

I have sent one of their staff 2 emails on the same subject, he finds it 2 much to even reply. I would have been happy with a one word reply.

If I know now what I know then ,

Stay away from UBAS.

tonyjon:
I will advice you to complain to their MD. I sent a mail to them today telling them how I feel about their services and  what we (NRN) expect from them.

The idea of going through a rep. is time consuming and a form rip-off because you have to pay into you current account and pay COT charges instead of paying straight to the stockbroking dept.

I think everybody using UBA STOCKBROKERS LTD should send mail to them to let them know that we(NRN) are not happy with their services.

Peace.

Whoever knows the contact details of UBAS MD should please send them to me.

I did ask my relationship officer if I could transfer money to the stockbrokers directly and she said is not possible. Of course I know it is bulls**t (what if I am in nigeria and using another bank, would I not be able to do business with UBAS. I know they wanna keep milking the COT)

Naijadr:
Sad but sounds like something that could happen. Its a big bank so I don't expect great service because of the low minimum. I just set up a CSCS online account, so at least I can watch and see what happens with that one, but I'm taking big chunk of money I'm putting into somewhere else so that I'm not worrying. I'm setting them up for my younger sister just so she can start in the NSE with a low minimum and also have access to their NRN features like bank acct, mortgage and all.
I sent a buy order since tuesday and I don't know if its been purchased and prob wont know till maybe monday, I don't like that, it was N120k but what if that was N1mil or more,
If you can meet minimum for the bigger companies then I'd suggest going with them. The NRN features are great, I needed a bank acct on ground that I could operate with ease from here (helps with relationship manager), plus interest rates for home mortgage is like 8-10% compared to the 17% seen with regular naija banks. Realize its a bank first of all before its a brokerage firm, so thats not their main priority, prob best for those who just place order for long run.

@Naijadr

I wish i didnt register and moved a large amount of money (millions) to them. I thought they would be any good. They dont execute mandates until about 4 days (if at all). I dont know how they operate, I thought being a big bank they would be up to any good. Least impressed!!! I have even fallen out with my fairly good old stock broker because I was trying to move all my stock to them (UBAS).
If I know then what I know now, i wouldnt have gone with the, I would have gone with ZenSec or any other broker of that quality. At best, they should be used for for long term investments only. In a trading game you need a broker that executes a mandate same day tops. In the time is takes UBAS to execute a mandate, other folks using an efficient broker would have bought and got ready ready for another one. Time is of massive essence, one day is this game means a lot (how much more 4 days - 1 week). Profit is made on the purchase price.

I am f*****g raging. the only good thing I am getting from UBA is their UBA NRN account

I guess i have to get on with it, or I am getting what I pay for (250K opening bal.) I am ready to move to a good broker even if they ask for N5m

Would it help complaining to their MD or would I be shooting myself in the foot?. If anyone has anything good to say about UBAS, please say. this is my opinion

pumping777:
BGL is accepting minimum of $200K for it's investment vehicle for MTN PP. Make I make way for the big boyz and girls.

Thats the one, i am remortgaging str8 away. On the phone to d estate agents pronto. Abeg dem no see me at all

pumping777:
For those complaining about PO oversubscription, I don't understand it. This is already a known fact which you should figure into your calculations. Buy in multiple tranches and don't buy too much. Simple enough so you don't scream blood when money is being returned.

Consider it long term investing. Buy for your spouse and your children. This is easy enough. Have more children if necessary

Pumping na lie oooo i deployed this strategy for Dangote Flouur (bought 4 myself, wifey, son and my baby girl), it failed woefully, all I got is a kick in the b***s. I dont mind the long term if I get what I ask for.

diva4eva:
People, Can u imagine? i applied for N100,000 rights for the CCNN rights issue last year and today, i realised i was given only N7,000 right so my N93,000 was returned after tying down my money for 5 month. This is the height. I am through with PP, IPO/POs and RIGHTS ISSUE. its is actually crazy

Nne no complain ooooooo, 5 months only, I have treasure tied up with FBN, I dont even know how to collect my 'rejected' money. Maybe I send armed robbers go get am 4 me

@pumping777

u got mail

Looks like the TS on Fidelity has been lifted closed at 11.24, FBN lost 0.59, the much celebrated UBA has fired the stock off the face of the planet earth, it lost 0.59 today.

@

Dagflour news na bad one ooooo, what a waste of time & money. to think of what I could have done with the money pumped into it.  Does anyone know if this allotment is final or is this likely to change?

@Wanaj0

When you say "wait for months result of First Bank and enter" what exactly do you mean? If the results come out and is good, would it not send the price northbound and may get out of reach? when exactly around the 9 months results is the best time?

kpineo:
@all aptistock users
can some please bless me with a spreadsheet for 07/01/2008. it seemed to have been missed by my radar.

Aptistock data from 01/08/07 till date

barge:
Please what business is Interswitch engaged in ? Hope the weather is not too cold for your side.

get googling boy, (card systems based suite of products). Imagine Nja being fairly cashless God, any company at the forefront of this would be minted

@

Bye Bye to CHAMS. I wish I had wanaj0's kind of capital. Well, it is a lesson i had to learn in a hurry. Tied up a lot of money through Diamond Bank GDR. (couldnt refuse it at N16.5)

Can anyone lend credence to the 'news' by WW that interswitch might be planning a PP. I need to be well prepared for this (hopefully the issuing houses will be one where doors get opened for me through . . . )

stanchuks:
@Easimoni
My Oga thanks for this trend, i am finding it difficult uploading into Aptistock or is it not Vista compliance, if so is there a solution for this?
Nice weekend

the vibes i got from other thread is that aptistock is not Vista compliant. I stand corrected . also note that the help section provides a very good guide as to the interpretation of all the indicators.

Also note that TA Pro & Deluxe have just been released on www.nigeriansecurities.com. they have data going back 2 years

I would be be wary of using TA in isolation without looking at the fundamental analysis & future prospects of the stock. Most of these software were developed with developed / perfect market in mind. From what is happening on some stock on NSE at the moment, you wouldnt touch some stock with a barge pole (from their TA data), but these are the stocks doing very well (albeit 4 now)