₦airaland Forum

@ Frankiriri & other Nairalanders,

I live abroad and am interested in this First bank share offer. Is it OK to ask my younger brother to fill the form on my behalf and sign it with my initial, and also use his bank account for the E-Dividend as I do not have a bank account in Nigeria?

@ Anusule,
How come you have already resigned? Please what went wrong?

Here it comes

Source: http://odili.net/news/source/2007/may/8/204.html


First Bank shops for N100bn

The stage is now set for First Bank of Nigeria Plc to become one of the most capitalized bank in Nigeria as its board of directors and financial advisors rose from a completion board meeting yesterday to shop for N100 billion from both its existing shareholders and potential investors through the floor of the Nigerian Stock Exchange (NSE).

The deal to the hybrid offering (public and right issues) was sealed in Lagos by all parties to the issue. The authorities of the Nigerian Capital Market, Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange gave a nod to the widely acclaimed ‘largest offering’ in the annals of the Nigerian Capital Market.

Prospectus to the offering showed that the dual offering will break on Monday, 14 th of May 2007 and close on Thursday, June 21, 2007.

Over 3,000,000,000 units of shares would be available for sale within the one month period when the offering would be on.

Breakdown of the deal, according to the prospectus showed that more shares would be made available for sales to prospective investors in the bank. Specifically, 1,624,253,238 units of ordinary shares of 50kobo each valued at N33 per share would be sold in the public offering while the existing shareholders of the bank would be given the opportunity to exercise their rights with 1,496,762,682 ordinary units of shares at N31 each. They (existing shareholders) would have a right to one new share for every seven already owned in the bank.

The N96 billion net income from the offerings would be splashed on major projects which include branch expansion, branch mordernisation, increase in equity investment in subsidiaries, especially FBN Bank (UK) Limited and FBN Mortgages Limited among others.

However, bulk of the proceeds of the fund (N27.14billion) or 28.3 per cent would be splashed on boosting the working capital of the bank.

Parties to the offering include IBTC Chartered Bank Plc, Oceanic Bank International Plc, Guaranty Trust Bank Plc, Premium Securities Limited (Lead Stockbroker), BGL Securities Limited, BFCL Assets&Securities Limited, Future View Financial Services Limited among others.

Meanwhile the board of directors of First Bank of Nigeria is very confident about the success of the fund raising process.

Alhaji (Dr.) Umaru Abdul Mutallab, chairman of the bank disclosed at the completion board meeting “This is one offer that will be well oversubscribed. By my estimation, it would hit about 200 per cent oversubscription”. He expressed confidence in the quality of the parties to the offering.

Mr. Atedo Peterside, managing director/CEO, IBTC Chartered Bank, a party to the offering also corroborated Mutallab, saying: “This is one Elephant that does fly. I bank with First Bank of Nigeria Plc and also encourage my staffs to do the same. This is the largest offer in the history of the Nigerian Capital Market and it is very well priced.”

First Bank has been very consistent in rewarding its shareholders in the years past. A recent survey on return on investment in the banking industry for the first quarter period ended March 31, 2007 conducted by FSDH Limited showed that only GT Bank Plc surpassed its record in the review period.

@ Eyimofe89
I looked at the http://www.ambcnigeria.com, the website looks fishy. It doesn't have an identifiable physical address. You know a lot of things are happening on the Internet. Please post their office address here. I would like to confirm whether the business is 419 or not through EFCC. Once again, please post their address.

Just check the website of EFCC (http://www.efccnigeria.org), you will see that the address of their offices can easily be found on the website. That is how it should be.

Scotland is running something similar and better than the English one. It is called "Fresh Talent". The scheme allows non-EEA citizens a two-year visa extension if they study in Scotland.

For more: www.workingintheuk.gov.uk/working_in_the_uk/en/homepage/schemes_and_programmes/fresh_talent__working.html

@ Promise, thanks a lot for the good advice. It shall be well with you. You will surely complete and enjoy the project you are working on in Jesus name, Amen!

The project I intend working on is actually an existing bungalow in a neighborhood where only bungalows are allowed. I would like to demolish the building and build European kind of bungalow there. It's going to be a bungalow with loft rooms. It will be built in a way that when you are inside the sitting room you will have the feeling that the house is a two-storey building.

I have never seen such a bungalow in Nigeria and am wondering why. Is it that our architects have not discovered the design or is it that loft rooms are not meant for Nigeria because of our harsh weather?

I would like you guys to give me advice and tips in ensuring the success of this project.

I thank you all in advance.

Below you will see the model of the bungalow in question and the sitting room.

Reporting 419 letters to EFCC and preaching against it will do nothing or very little to stop this problem our dear country is facing. Employment, employment, employment! Employment is the answer to the problem. Do you know many graduates in Nigeria who are jobless talkless of the uneducated ones and nobody cares about them? Most of these guys join 419, robbery gangs etc because there is almost no way out.

419 will surely reduce if private individuals (home & abroad) who are up and doing could do more to provide employment and our leaders stop depositing our money in the western banks, let them use the stolen money to establish businesses within Nigeria.

That's my 2cents.

@ Globalaid,
Na wa ooo! First, you stated that you will tell me about the price the following day, now you are on your way to Nigeria.

Well, I am in Europe. Besides, I do not see the importance of meeting face to face for now as I do not even know the price of the genset at your end.

If you are that busy then let me know so that I can just move on with my quest.

Globalaid,
Am wondering why I haven't heard from u.

Deleted

@ Globalaid
I would like the generator to come from Perkins company in China and I want it to be Super-soundproof type (not ordinary soundproof).

Chris and Andy are fighting one another.
Source: http://odili.net/news/source/2007/apr/14/100.html

Deleted

@ Chimaze
Please let me know the price and age of the 50KVA Perkins generator.
My addy is (deleted)

I have not decided which way to go. I'm still searching for a cost effective way to purchase a Perkins gen. A company in China which I conacted offered me a soundproof Perkins diesel generator of 40 KVA at the price of $5,000. (UK version of such gen costs about Euro 8,000).

What do you guys think of this offer? Does anyone know what the shipping and clearing might cost? Should I fly to China to arrange the whole thing? Can someone recommend a reliable shipping company that can handle the shipping? I will be obliged for any kind of advice.

Peace & one love!

@Sexyme & Chimaze,
Thanks a lot for your responses. I appreciate.

@ Chimaze,
I am making preparations to purchase a used Perkins generator (40 KVA) in the UK. Please which way is the cheapest to ship it to Nigeria? Do you know how much the clearing may cost me?

@ Chimaze,
I am making preparations to purchase a used Perkins generator (40 KVA) in the UK. Please which way is the cheapest to ship such item to Nigeria? Do you know how much the clearing may cost me?

Happy Easter to all you witches in the house.

Happy Easter to one and all Nairalanders

@ cute_N_hot & ultrafem,

How come both of you are bored when there is a mission to accomplish? Fly to China and collect your cash please.

Sure, they all hate us. Read the following piece to understand it better:

Source: http://odili.net/news/source/2007/mar/30/611.html

Why does the black community hate Nigerians?

If you are a resident of the United States you may have felt or noticed the simmering heat emanating from the tension within the Black community. You may have felt the mutual suspicion and objections and the intense competition between the African-American, Afro-Caribbean and Afro-Latino, and the African communities. There is also the tension within the African community. In some enclaves and professional sectors, the heat stemming from these tensions can be unbearable. Often times one wonders why people with common ancestry, common history and common life experiences engage in self-immolating, self-defeating and self-hating tendencies. What's the problem?

Let's start with Africans. Most Africans I have come to know or communicated with are suspicious of, and love to hate, Nigerians. I don't mean this at the individual level. I am speaking in collective or general terms. Every where I go, I hear Congolese, Togolese, Sierra Leoneans, Liberians and South Africans and others speak ill of Nigerians. They hate the fact that Nigerians are "too aggressive," "too dishonest," "love to show off their wealth," and are "always loud." They associate Nigerians (and Nigerians only) with "419" even when their own nationals have been caught committing criminal offences.

Personally, I don't know what it means to be "too aggressive." Does it mean that Nigerians have a quicker and better understanding of systems and societies they find themselves in? Does it mean that Nigerians, by virtue of their worldview, education, and experiences, get acculturated better and faster than other Africans? Does it mean they know how to stretch and bend rules to suit their conditions? Does it mean that Nigerians are generally never afraid or intimidated of their new environment? Whatever "too aggressive" means, they are always grateful when Nigerians show them the ropes, help them out of difficult situations and introduce them to wider circle of benefits.

To be a Nigerian in some cities and in some ethnic enclaves is to be a pariah. Africans from Mozambique, Tanzania, Botswana, Angola, Zambia, Kenya and other East and Southern African countries can't tell enough of the "monsters and crooks" living in their countries. I hear it every time. And indeed, some Africans are not happy with the fact that Nigerians have a huge presence in their educational system.

That Nigerians are the nou’veaux riches in some of these African countries is a source of jealousy. Sadly, when confronted, most of these Africans have never associated with or personally known such new-Nigerians. They've only "heard of Nigerians" who fit their flawed expectation.

Sadly, one also hears African-Americans, Afro-Caribbeans and Afro-Latinos complain about Nigerians. The image these Blacks have of Nigerians is not unlike that of other Africans. A Nigerian trying to secure a professional job or contract - if such office is headed by an African-American -will find it an uphill task. If no one else is listening to the interview, you may be queried, grilled, toyed with and asked unethical questions just to make you loose your composure. Generally speaking, a Nigerian stands a better chance for employment consideration or a level playing field if the man or woman at the top is a non-Black. For whatever reason, African-American women do not share the opinion of their male counterparts regarding Nigerians.

Back to Africans: what is it about Nigeria and Nigerians that vexes them? Nigeria is not an imperialist nation. We neither invade nor occupy other lands. We do not have expansionist tendencies. We are not even a crusading nation lording over the West African sub-region. And even within the African continent, we have mostly helped, and have been a good neighbor. By and large, all we have done is help other African countries in terms of their economy and or political independence. Even though Nigeria has her own problems we continue to expend time and energy and other resources on fellow African countries.

Without Nigeria, close to 40% of sub-Saharan African countries would have found it difficult to gain independence or be in existence today. Our country remains the lifeline of several African countries. Since 1970 or thereabout, Nigeria has spent billions of dollars towards peacekeeping and economic and political stabilization missions. In addition, thousands of Nigerians have lost their lives in the service of these countries. But what do we get for all these efforts? Scorn and ridicule and hate?

Really, what did Nigeria and Nigerians do to the African-American, Afro-Latino and Afro-Caribbean communities to deserve the hostility that is generally directed at us? If others hate us for the obvious and unobservable reasons, what about other Africans? What's their problem?

I don't think you will be able to find 2KVA-4KVA genset that have soundproof. If you need soundproof gen then go for at least 10KVA gen.

Well, I would like to purchase a 40 KVA Perkins genset (UK version with original soundproof) for a cyber cafe business in Nigeria. Please what's the cost at your end? I would also Like to know the price of China version.

Thanks in advance.

My guess is that you want to set up a copy shop and I believe Sewa gave you a very good advice.

Let me add that if you are going for tokunbo copiers you have to talk to some copy-machine repairers around your area in Nigeria, they will tell you the best brand to buy (which must be Mita or Sharp).

If you have enough capital and want to make use of new copiers then go for Xerox and make sure you deal with Xerox authorized reseller (http://www.xhsnigeria.com) so that you will be able to benefit from their "after sales support service" which you should understand and discuss in details with the reseller before buying their products.

As per how to monitor the sales of your photocopiers, coin-operated photocopiers suppose to be the best but I doubt whether such system is obtainable in Nigeria. Resellers of new photocopiers should know better.

Look at the website of a copy shop in Port Harcourt and learn something from there. http://www.nubuck.com/

That's my 2 cents.

Andy Uba has been dragged to Federal High court for university degrees forgery.
Source: http://www.sunnewsonline.com/webpages/news/national/2007/mar/23/national-23-03-2007-09.htm

@ Angelheart

Are you talking about churches? Didn't you know that they have become business venture? Most churches are not playing the role they should play in our society but making money out of our poor and innocent people. And sometimes they secretly and carefully organise dramas to entice people. I am very sure that the dramas (the so called confessions) you witnessed were carefully stage-managed by the inner circle of the church.

Shine your eyes, darling . For me as I can read and pray to God I would not let pastors who make money out of their people take advantage of me.

@Angelheart
It's in no way real. It's all about African superstition or a mental disorder called Schizophrenia.

Bleaching cream makes no one to look good. It makes people to look very dirty and it causes body odor. That product is meant for prostitutes and unpolished people. I can never befriend a girl who uses bleaching cream.

Hello haters & gossipers, stop messing with my girl, Ciara. She is all woman, 100% woman. Read this article for more information:
http://www.snopes.com/music/artists/ciara.asp.

The rumor seemed to be started because there is a person with a website named Ciara who had a sex change. It was not the R&B/hip-hop star. Here is that person's website:
http://indigo.ie/~prospero/ciara.htm,