₦airaland Forum

beswyt:
@ALL CAN ANYBODY CONFIRM THE BIGTREAT RUMOUR OF 1for3 BONUS AND PUBLIC OFFER PLAN? I want to place purchase order 2moro before is too late b'because my ajebo broker can't buy anything on bid. THANKS

It is not a rumour if it is confirmed!

Well, i hope the stories of rumours and CICO opportunities will bring the bulls back.

The best thing after Marie Curie's studies of radiography is TRANSCORP. This is one stock that defiles all rules _{and regulations} of stock marketing _trading. Well, anything could make it move up or down. I have never owned it but then, I have considered it several times _{afterall na money I de find}. Love it or hate it, doesn't change people's peceptions. I someay will make money off it. Personally, I beelieve someday, TRANSCORP will succeed _{oh suck ceed}!

Ignorance _{they say} is bliss! Just because I don't believe in somthing doesn't make it right or wrong. I have & still do make sales in less than 72 hours. I guess you just want to have a topic of your own and you can sure be happy I contributed. People like RoughCut _{if you knew him} did too.

Invest in the futures market (spot fx and international stocks) and earn up to 25% monthly.
dupoint_007@yahoo.com


Dude,
If you have this biz, why don't u go ahead and invest N10 and in a couple of months you will exceed Dangote!!! _{[s]see me see trouble, people dey find me trouble.[/s]}

markmarble:
Hi guys.I've got for sale sixteen thousand units of wemabank shares.Call me on 08037264628,if u're very much interested.who knows,you could even get a discount on the present value (N15) of the stock.


mark marble-08037264628

How much are you selling? Let me know, I could do a cross trade. depthsheights at yahoo dot com. email me if you are interested.

ONWARD PAPER PP _{shine una eyes}

Just a line from the prospectus

Financial Review

The company recorded a loss after tax of N40.6 million due to its huge interest burden. This was as a result of bank facilities it undertook in order to fund its restructuring plan. It therefore intends to cushion the effect of its debt through the equity injection from its proposed private placement.

However, the company has been able to show its ability to improve performance through the growth in turnover in the last financial year. Its sales increased by 27% from N638.2 million to N810.9 million. This was mainly due to the restructuring exercise that is going on at OPML.


I just read this from the financial review of the PP. How easy is it to sell a company to the public that doesn't make any profits? Well, only in 9ja as usual. I would strongly advice everyone to sure read through every prospectus of these companies before investing. I just read eveyone asking about the application forms and the closing dates. I'd think people will talk about their opinion about a company's fundamental before investing. But then, in NSE, anything wey go market, person go de wey wan buy.


I would not be surprised if this PP gets oversubscribe still.  

That said, I no same anybody no buy anything o. _{Afterall, I bin use Onward exercise book go school.}

dejavoe:
@Akoscar

it closes on the 21/03/2008
i have the Prospectus here but its too large to attach
would send it to you if you need it

Pls could you email it to me on depthsheights at gmail.com

Thanks.

Just info,


http://www.thisdayonline.com/nview.php?id=105856

Power Probe: House May Order Okonjo-Iweala’s Arrest
•Former Finance Minister yet to receive invitation
From Stanley Nkwazema in Abuja, March.14.2008


The House of Represen-tatives may issue a warrant of arrest on the former Minister of Finance, Dr. Ngozi Okonjo-Iweala, if she fails to honour the invitation to testify before the committee probing the release of funds to the power sector between 1999 and 2007.
Okonjo-Iweala, who is now a Managing Director of World Bank, had been invited by the House Committee on Power and Steel, but she is yet to honour the invitation.
Speaking to THISDAY yesterday after another invitation was extended to her, the Chairman of the committee, Hon. Ndudi Elumelu, said if she fails to turn up again, the House would move against her.
“Of course, we are not joking here,” he said. “If she does not honour our invitation, we will issue a warrant of arrest on her.”
THISDAY however learnt last night that Okonjo-Iweala was yet to receive any invitation from the lawmakers.
“I can confirm that she has not been invited, at least not officially,” a source very close to her said. “Don’t forget that she now works with the World Bank. She has to be properly invited before she can leave her official duties to come to Nigeria.”
THISDAY was also told that the bulk of the money released to NIPP was after Okonko-Iweala had left office – especially as the 2007 general election drew near.
Meanwhile, Elumelu confirmed to THISDAY that the governor of Cross River State, Senator Liyel Imoke, who was chairman of NEPA Technical Committee and later Minister of Power and Steel under the past administration, has decided to honour the invitation extended to him.
Elumelu informed THISDAY that Imoke had communicated with the committee that he would be at the National Assembly on Monday to answer questions on the probe.
Yesterday, the committee was told that the federal government processed 300 contracts and made well over 340 payments in respect of the National Integrated Power Projects (NIPP) – but none of the contracts in the last five years passed through the Ministry of Power.
The contracts were executed between the minister and the Presidency through the Presidential Steering Committee made up of Mr. Joseph Makoju, Shomolu Sheke, Senator Liyel Imoke and Mr. Funso Kupolokun.
The Permanent Secretary, Ministry of Energy (Power Section), Dr Aliyu Abdulahi, said the civil service bureaucracy was never involved in the award of the NIPP contracts.
Abdullahi, in his submission before the Committee, said: “The Information I got as the Permanent Secretary was that over 340 contracts by the Nigerian Integrated Power Projects were approved, while over 300 payments were made.”
He however denied that the NIPP projects were brought to the attention of the Permanent Secretary or any Director at the Ministry.
“The Permanent Secretary is usually the accounting officer, but the accounting officer then was the Minister of Power, Senator Liyel Imoke. He approved the contracts and they were forwarded to the due process Office. The minister approved everything without the knowledge of any Director or Permanent Secretary. I have visited some of those projects, but no report has been submitted to me on any of the power projects by the task force that we set up,” Abdullahi said.
The contracts were paid for by the Presidential committee (then headed by the fomer Vice-President Atiku Abubakar) and not the ministry, he said.
The Managing Director, NIPP, and a seasoned auditor, Mr. James Olotu, told the Committee that the Atiku-led Presidential Committee passed the mandate to a steering committee headed by Imoke, with other members who were Okonjo-Iweala, and Kupolokun, Makoju.
In his testimony, Abubakar said: “All NIPP projects were handled by the Minister and then the Presidency. The Permanent Secretaries were never involved. The Minister defended everything; we had no knowledge of any Dire-ctor of Permanent Secretary that was involved from my records.
“When I resumed, the Managing Director said he was not going to report to me but the Minister of Finance. I said no and that was the only time a Director was appointed for the NIPP under the Ministry.”
Energo, a company chaired by former Head of State, General Abdulsalami Abu-bakar, with the former NEPA MD, Alhaji Hamza Abdulahi, as co-owner, was said to have been awarded contracts worth over N19 billion in local currency and £72, 686,136 in foreign content for the construction of KVA stations and transmission lines.
Thomas Lambeth, an Austrian and chief executive of Energo, told the committee that the company had so far received N13 billion, but said that work done so far was just about 10 per cent.
The Energo boss said since the company was awarded the contracts for the Ugwuorju/New Haven/Ikot Ekpene, Lot 3 EPC 200, 330 KV sub-station and the transmission lines, he had never visited the site neither did he know the place.
Lambeth said work had also stopped at the various sites on the contract that was scheduled to have been completed by March 7 2009, due to non-reconciliation of payments between the Ministry and his company.
Olotu revealed that Pivot Engineering Nigeria Limited signed a contract of $29 million while the Managing Director of the company, Mr David Braide, a South African, disputed the figure, insisting that only $26 million was signed for the offshore component of the job.
Braide, who heads the firm, also said that he had never been to site.
The South African admitted the payment of N151,955,742 for the onshore component of the job after receiving an advance payment of $847,623,200 for the offshore component with a completion period of 22 months.

dvonne:
Abeg Aunty wendy ,
Please help me ,
home is far from here
and i just got my student loan
i need to do some cico with the loan please
before paying it.
i am in the uk, please please please mail me your your broker no , dvonnemartin@yahoo.co.uk
and some tips

Please don't let me suffer o

I'm assuming that by your statement you don't know much about stocks_{particularly NSE wey no dey obey rules.} So, I wouldn't think it's the best thing to do with a student loan. Also, the market is bearish so, you might have a rethink. All the same, I guess WW will give you a better answer. Just my 1 cedi

Well, I finally have settled in enough to send a line on this thread. Make una come see me see wahala o. Since the day wey I come Naija na im those bears follow me come. Last year, na so e happen. Wetin I go do? Abi I no go dey come home again? Anyway, e no go happen o, make I come pack my bag de go.

@All,

Anyone seen the update for today? I don't seem to find any. How did the market go?

floreb:
my sister is persuading me to buy shares in the First Inland PO, but i don't know much about the bank and not very intreasted yet. but the truth is i want to hear from nairaland, because i believe that's where one can good get idea on business matter. so my dear nairalander what do u guys have to say

It's up to you to decide why you are buying. Answering this question helps in determining if it good or bad. Generally, PO are considered medium - long term by me. So, if i think I'd need money soon, I go to the market and do my business. I personally avoid POs cause i've gotten lots of monies tied down and sometimes you have to chase the registrars for certificates. I think I make my money in the secondary market. All the same, I'd still buy Inland and Skye in very small quantities.

otokx:
This sounds like a fairy tale.

I quite buy the fact that it sounds like a fairy tale. It's something I have not heard though. I can't imagine that. With the DG of NSE saying recently that from 2009, all POs will be sent directly through CSCS account, how do they intend to credit a PO stock that says something like;

Minimum shares applied for 1000
Share price 5.00

to a CSCS account? That will be just N5000.00. All the same, from the way these guys are going with the recapitalization of Stockbrokers, it might be a rule that not written in black and white. Maybe the recap will make brokers sit up and do better business.

It's unfortunate that somethings happens and keep happening. Truth is, the Nigerian stock market is already moving faster that the 'poor' can keep up with the pace. The best way to make money is your ability to leverage on volume (simply put, more money), which I'm afraid some people can't. But then, POs still exist. At least, so far, people who request for low volumes (>10000 units) seem to be getting it. I would assume that class might still be poor and it gives them an even fairer chance than the so-called rich.

I have done trading with various brokers and experienced their various problems. The ones that never execute trades on time, those that don't even give you updates, those that can only buy when prices are high and sell when low, (the list is endless). I have come to a conclusion that higher the cost a broker requires from you the better service you get. They seem to give more preference to the 'rich.' Remember, they are businessmen. They make ~5% on your buy and sell so, 5% of 200k is definitely greater than 5% of 10k.

tflow:
Hey guys can you please elaborate more for me on this IBTC Ethical fund, i really don't know how it works, but have an idea about stock market. Thank you

As the name implies, Ethical funds do not invest in certain business unlike general mutual funds. Some people for certain reasons would never put their money in certain businesses. So, it is really made for them. For example, some people for religious reason would never want their monies invest in a brewery, so for them, the Ethical fund is it. No investment in the Brewery sector.


Basically, it;s a mutual fund that limits investment alternatives to securities of firms meeting certain social standards. For example, an ethical fund might exclude securities of companies that are known to practice discrimination, that operate in certain countries, or that produce specific products (for example, those having to do with cigarettes and alchohol).

Well, I'm of the opinion that Wema Bank still has good fundamentals. If I was asked to place a bet, I will say the price will climb. Truth is from this development, it sure has moved into a long term stock but I wouldn't just through it away. In fact, I actually have some units and would love to continue buying into it.

I always find it difficult to swallow everything in the media hook, line and sinker. I wouldn't be surprised if there actually is, some kind of politics in the whole thing. If the MD did something wrong, investigate quick, draw a conclusion and let the bank go on. After all, the CBN is supposed to help the banks improve the economy.

Over time, I guess it;s a method that's worked for me, I buy those kind of stocks and they turn out to be goldmines. eg-Afroil. I actually wished the share was not on TS so the price cold go down and make a good entry. Similarly, they could be landmines (rarely in the NSE though.

Remember, it's still your decisions to make on what to buy, hold or sell.

abocana:
I cannot wait 4 another IPO,Nairaland open my eyes no be small.

ALWAYS PREFER IPO,NOT LOOKING TO SELL SOON. 18-24mths.


Thanks very much guys,it had been a pleasure reading this forum 24/7.

I've been telling friends here in canada,US and Europe about the information on this site.

@Abocana,
Problem I have with the IPOs & POs lately is that they get to return a great chunk of your monies due to the new phase that's been used around all offers - "OVERSUBSCRIPTION."

@All Nairalanders,

Sorry, I never really get to contribute to this discussion cause of my location. I am mostly unavailable when you guys are on.

Well, well, thanks to everyone that responded to my earlier shout-out. I guess I might really consider contributing to the discussions here. I believe I might have some part to play here.

Anyways, I have been investing in the stock market for quite a while now. I must confess I have made a lot of money from it in different ways. I still learn everyday.

Hey, I have 2 questions here;
1. What do you think of UBN in the short term?
2. Is Sterling Bank a good deal right now?

I'm thinking of letting go my holding in UBN (I made a big hit there) and getting into Sterling/EcoBank. Any market info on these?

Thanks all.

It shouldn't matter how long or short it is. What should count is the motive which should be - thanksgiving. Either way, it's kinda funny that more often than not, meal times prayers are really short.