₦airaland Forum

Is the club registered? as a partnership, business venture(name), limited company or limited by guarantee?. Who audits the books of the club? how often does the club makes available to members the records of their financial undertakings? which fund manager or stock broker(s) manages the portfolio of the club? and most importantly, who are the trustees?

Please send these details into kissremmy@yahoo.com for proper consideration before making up my mind to join your club.

Thanks.

Could anyone in the house assist me on how to become a football agent? i will be more than happy cos i have some raw talents i could offer any of the big teams. hope to hear from you guys.

yeah i reside nearby. but what do we chat on? my contact remmychess@yahoo.com

thanks

New on this thread. Seeking sexy and romatic ladies for friendship. interested ladies contact kissremmy@yahoo.com

This is for ladies searching for a partner- intimate relationship (no marriage) only. the lady must be about 24 years, beautiful, sexy, romantic, loving and working class. You must also be intelligent and brilliant. If you meet these requirement, send me an email at cmfinancialassociates@gmail.com or mrtunde@arsenalfans.com or kissremmy@yahoo.com

@ postors,

i feel we (nigerians) owe him alot as long as we carry his "intellectual property" as our national flag. he designed the flag with the creative power of his brain, i will suggest that the man be paid N100 (one hundred naira) on each nigerian flag hoisted per day. .

it seems token ehn? count the number of nigerian flags being hoisted per day around the world and multiply by one hundred naira and see if the guy would still be poor.

@ wale muse,

i think i may be of help to you. my firm has done a feasibilty studies for courier companies in the past. we may offer you professional advisory services and other details you so require to achieve your entreprenerial goals on your request. you may contact David Remmy at remmyking2000@yahoo.ca

@ posters,

i think there is similarity in this post and that of spaceworld (see thread: Interswitch Fraud E-mail Please Be Aware And Spread The News).

but am skeptical about interswitch requesting for ATM card registration EVEN ONLINE. i think something is wrong with that. Rather our various banks should inform us of what to do AND NO ONE ELSE.

@ posters,

I perceived that something is wrong here. reviewing some of babaife's post as he boasted, suggested he is not ONE that could play pranks (stand to be corrected). however, i think the administrator should demand proof from him, else he modifies his post.

Having said that, i feel we are leaving the substance of the post unattended to. this is an alarm to intimate NAIRALANDERS that ATM thieves are abound. the simple truth is that, YOU BE CAREFUL WITH YOUR ATM CARDS AND DONT DISCLOSE YOUR SECRET INFO TO ANYONE UNDER WHATEVER GUISE. c'est fini (FINISHED)

Rather than turning this tread to a resume dumping ground, i advise that we channel our talent towards developing and contributing positively towards our constituency. we are young professionals from all walks of life, we should bring to the attention of all matters of importance that could lead to self development rather than disturbing our peace with i have this or that qualification

Do you tell lies?

send your request to cmfinancialassociates@gmail.com. All your questions should be attached as a documents (MS word only).

you right my brother. this is the time to teach them some sense. THIEVES, OLES. BARAWOS. AU VOLEURS- ALAPA MASI SE

Thanks Bro.,

How can one assess his or her credit worth? I have some friends that intends to approach microfinance banks for loans to meet some business obligation. They asked me to analyse their credit worth vis-a-vis their collateral. After much work, the bank still turned them down. My bro, if you know can you help us with how to present credit worth report to a bank?

God bless.

Well. The information i got was that of CAUTION as regards Afribank shares. the rate at which the price appreciated was suspicious. i asked my broker if i could put in some pennies, but he reacted otherwise.

I tried to analyse the prospectus and the audited financial statement including the 5 year financial summary to know the facts behind the figures. I did and my CONCLUSION is PERSONAL. am therefore not surprised that mycece is planning to sell at a PRICE BELOW THE IPO PRICE.

if i got you right, you want to borrow money at an high rate to pay for house rent? My friend, am not surprised that banks CHASED you away. the risk is so high that even they central bank may not give you such a loan. the best offer i think you can get, is to go back to that bank that requested that you move your salary account to their bank.

you should consider that option thoroughly.

yeah, how much does it cost to do thes training. and can you please tell us the venue and how good are their lecturers.

Michaeli:
to be or not to be ??

A Matter of personal choice

cheers

what a pity, after given all i had to the test and interview at virgin nigeria, they bounced me and refused to give me the desired employment.

neva mind, to all that gave me clue to the interview, i say THANK YOU.

in another attempt to contravene the provision of the CAMA and relevant accounting standards relating to amortization of goodwill in the books, the bank had its financial statement QUALIFIED by the auditors.

the current trend in the banking industry is of great concern. in recent times Access bank and IBTC were culprits of this contravention of law and accounting principles. of more concern is the roles played by the CBN and the Federal High courts in aiding the banks management to WILLFULLY DISREGARD the provision of the CAMA.

this is dangerous as it portends that "DIVIDEND COULD BE PAID OUT OF CAPITAL" - an act TOTALLY forbidden in the Coy Allied matters Act. because the motive for this contravention is simply to pay dividends to shareholders that might not have been possible, if goodwill is properly amortized in the P & L statement.

Am uncomfortable.
cheers

point of correction, we played blackburn not READING.

i think old age is begining to set on jen's career but AW does not have confidence on Almunia or Fabiansky. Last season, he was a calamity to the team, he only began from where he stopped.

Jen's has achieved all he SET for himself in football- World cup appearance, Champion's league final appearance, germany no 1, champions league record (10 Clean sheets). so it is natural that he has nothing to lose any more.

the ONLY OPTION is that AW sends him to the stand and build confidence on Almunia (26) and Fabiansky (21), these guys are hungry for laurels and will do anything to achieve that.

am also interested. can you mail me on the cost of the training and duration at remmyking2000@yahoo.com

wanaj0:
Please go and read the audited report of Access bank again.

The financial statement was qualified. The reason was stated in the report. Access bank followed due process. Had a board meeting, called an AGM, got the Federal high court sanction. Even had a CBN letter asking banks that wanted to treat their goodwill in that way so as to pay dividend. Basic problem was that it contravenes the Companies and Allied Matters Act which never envisaged that kind of problem. All most all the banks that merged and wanted to pay dividend were faced with this problem hence CBN's decision to allow them to 'contravene' the act. This was clearly stated in the audited financial statement.

As an auditor, you should now that qualification of an account does not mean that the books were cooked!!! It only means that the auditors are not confident in expressing an opinion on that part of the account. Basically, PWC does not agree that they should contravene the Companies and Allied Matters Act. Access management however felt otherwise which was why they were not bothered by its inclusion in the account and it was not an issue at the AGM with the shareholders present!

On audit committee, please go over the financial statement again! Access Board has an audit committee among other committees to which the MD and DMD are members as part of the board! No shareholder is in this committee.

The audit committee adressed by CAMA has a non executive director as chairman with other shareholders. The MD and DMD are not members of that committee. Don't understand why people must LIE just to pass a view across.

The Stock market may not be efficient but that is not the making of Access Bank.

The poor analyst was sacked for incompetence and negligence of duty! He made so many factual errors for which Access can sue FCMB/CSL!!!!!! How dare you accuse an organisation of cooking its books just because the account was qualified! That is an indictment on PWC that went ahead to express an opinion on the statement.

While I don't personally like Access Bank, it is obvious that the said analyst is either incompetent or negligent based on his report.

For you auditor, it will be nice if you read the audited statement of Access bank before passing comments. Your treatise is based on assumptions!

@ wanajo,
i agree with you that QUALIFICATION of AN AUDITOR'S REPORT does not MEAN COOKING UP BOOKS but inability of the AUDITORS to express an INDEPENDENT OPINION ON THE FINANCIAL STATEMENT OF THE COMPANY. The Access bank case does show the FAILURE OF THE MANAGEMENT TO COMPLY WITH STATUTORY PROVISIONS -CAMA 90 AND BOFID 97- hence a CONTROL LAPSE.

the qualified auditor's opinion  was further butress by the reporting accountant's report that ADEQUATE INFORMATION WERE NOT AVAILABLE TO ENABLE THEM EXPRESS OBJECTIVE OPINION ON THE OFFER.

when considered in wholistically, the control lapse is APPARENT in Access bank. if i may ask, HOW MANY OTHER BANKS HAVE THEIR AUDITED ACCOUNTS QUALIFIED? if your position is to be taken with seriousness? What is the implication of the management's failure to amortize GOODWILL as envisaged by IASC, NASB, CAMA 1990 and other relevant pronouncement? of, overstatement of assets and profit. capable of deceiving GULLIBLE INVESTORS.

on the audit committee, i may have to confirm that because am having prob opening it on my sys.

on the SACK OF THE POOR ANALYST, we are not in the position to judge. but as you rightly posted, ACCESS BANK HAS NOT SUED his company for VICARIOUS LIABILITY, maybe they are considering their CHANCES. you never can say, but i MAINTAIN THAT time WILL JUDGE HIM

while i appreciate all contributors to this thread, i must advise that we treat this information with utmost seriousness it deserves, though it is belated as millions of naira has been invested already. with ten 10 days to go, we can still save some coins.

As an AUDITOR myself, the first question to ask is: Is the banks audited accounts truly QUALIFIED? If it was, did the management disclose this in the PROSPECTUS?

Am sure it was not, else IBTC and FSDL would not knowingly recommend it to the public. by retaining Goodwill in the books in contravention to GAAP, the bank was able to overstate both profit and assets to the value of the goodwill.

2. the poster quoted the reporting accountants (PWC) report, was that quotation true? if true then the bank MUST have been cooking up books to the detriment of the shareholders and the investors.

3. On the Audit Committee, it is not only MORALLY UNACCEPTABLE for both the MD and DMD to be part of the committee but also a negation of the tenets of EFFECTIVE GORVENANCE. While the CAMA 1990 requires minimum of 3 shareholders and 3 directors as members of the committee, it was not envisaged that the MD and DMD whose Activities are under SCRUTINY would be members of the committee. IT SHOWS A GREAT CONTROL LAPSE INCAPABLE OF FORSTALLING AND PREVENTING ANY MANAGEMENT FRAUD AND IRREGULARITY.

4. Given the above, i have always posited that the Nigerian Stock market(NSM) is not EFFICIENT (See my thread: is the stock market truly efficient?). the share price does not include all known information as it ought to, hence the NSM is RISKY!!!.

5. To the poor analyst that was sacked for releasing this info, that's the price you pay for DISCLOSING EXECUTIVE SECRET. take heart, TIME WILL DEFINITELY VINDICATE YOU!!!

i really love your post as it shows desire to learn and benefit from stocks. the are so many books to read on stock and corporate finance. but i fear you may not understand them except you have a finance background. however, you may visit www.fools.com or www.babypips.com. you can learn stock from there.

also, as regards the course, you may choose to register for CIS- Chartered Institute of Stockbrokers or ICAN- Institute of Chartered Accountants of Nigeria. for foreign exams, ACCA, CFA are advisable depending on your purse and your ultimate goal in life.

further, on the acronynms, IPO- Initial public Offer (meant for coys coming to the stcok market to raise fund from the public for the 1st time, while subsequent offers are known as PO- public offer).

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this is SERIOUS OOOOO. Naijas are at it AGAIN, haba

@ konye
thanks,i applied for financial auditor.the interview is at edet house ikj.

thanks

I have just received a phone call from Virgin Nigeria inviting for an interview.can any one in the house kindly provide me some tips on what to expect.

thanks as you do this.

I have just received a phone call from Virgin Nigeria inviting for an interview.can any one in the house kindly provide me some tips on what to expect.

thanks as you do this.

I got a phone call from virgin Nigeria today, inviting for pre selection test and interview tomorrow- 9/8/07. can any one help me what to expect.

the likely question, dress code, minimum salary and other info i need to know.
Thanks God Bless

i have nothing against Yar Adua but will ONLY vote him, if he contest in any political party OTHER THAN THE PDP. PDP has brought nothing but pain and anguish to Nigerians. they are called "nest of killers", "assembly of ungodly men", "cycle of corrupt politicians", "OBJ Holding", among others.

if i have my way, i would prosecute and ensure maximum jail term for all past, present and future PDP members.

they are ALL CROOKS AND DECEITFUL

as a nairalander, i hope you will bring sanity to the nigerian police and not join one of the bad eggs in the force. however, you can contact them at edet house, maitama, abuja for more information