₦airaland Forum

There is no doubt that this is a very unfortunate situation that calls for serious actions from all those concerned ,but one thing must be made clear about this ,treating someone in bad way because of crime you have no prove that he committed is wrong , generalizing every Nigerian to be some kind of criminal is wrong ,if you don't have prove that someone is braking the law ,then u have no reason to deal with them differently ,this is my stand on this issue .

They are idiots

U know your people So why take the Risk??

rhodalyn , what do u mean by that word " your people " ?

Rhodalyn:
and how Is that Surprising if i may ask!??!?!

and what do u mean by that ?

Don't be surprised if the mongers tell you that its OBJ that induced the man to go into coma

9ja4eva:
Arsenal will not yield profit for her because dey are so so useless a club now.

yeah thats why our match ticket is always the costliest,ask your Chelsea fans in England when they pay more to see Chelsea play and they will tell you its when the GUNNERS come knocking .

Thanks for that response ,i had been holding this views that stocks being suspending during the POs means it would be not trading until after the suspension is lifted .
With this understanding i guess i would go for oceanic shares on the secondary market.This is because i hate the delays that come with receiving the certificates ,i reckon that i might make some money during the time (6 months to 1 year or even more ) that i would be waiting for the certificate to reach me ( smart ass ) ofcos i could be wrong as you were with the transcorp shares .

Try this www.reporo.com i use it and its been good

what kind of company phone and model do you have ,maybe from there we would know how to help you .

I think you first need to contact your network provider ,they would be the one to give you all the details with which you would connect to the net through their network .
Also if you would like to have a nice browser on your phone that would make u surf the net like you use to do on normal pc ,then u should go http://www.operamini.com/download/ and download one .

Got mine six years ago in India ,paid only for for using the cybercafe pc .

Hello Guys ,I have this question ; is it possible to buy the stock a company while its suspended on the trading floor and have been offering its POs ? I understand the stocks of a company would be suspended while its having its POs ,but someone once told me that it is still possible to buy stocks of a company while its suspended and offering its POs, what do you guys have to say about this ?

So Chidi you say that we are stingy ,well that stinginess made us play what is possibly the most entertaining football on earth , tell me who sleeps when they watch arsenal play,unlike the boring chelsea, Gunners for life jare .

Afam and The One please forget your egos and stick to the the topic .

mushki:
@egoldman,hey you're taking it personal. i love naija thats why ive been visiting nairaland for about a year and i only registered to comment on this topic because i am familiar with east africa. im sure even in india there is the good, the bad, and the ugly eh?

@9ja4eva you also need an award for active participation in topics. don't know what to call it though, any ideas?

i suggest u look back into some of your posts in thread ,maybe u would understand whos taking it personal

ehmmm this is interesting ,i may not be an expert on what u should choose,but i think u must avoid IPOs for now

few weeks back i have bought 4,000 shares of first bank from the open market , i would like to know what happens when they pay out the dividends and giving out bonus shares ,i don't need the dividends for now,i would want to convert it to more shares ,how would i go about this ? also in the event that i decide to receive the dividends ,how would i be paid ? my contact address is with my broker , would my broker have sent same to the registrar of first bank ?

yeah that is nairobi for you , the city they say is paradise compared with lagos .

and what make you think he must fall into that 50% ? if he wants to take the risk ,if he beleive that he could weather the storm ,isnt it better you let him try his luck ?

mukshi , why u are hell bent on finding faults and nothing positive about Nigeria is what i dont understand ,yeah we have our bad side ,but why is it the bad side that u only see ,the following link is from the same source of ur info, why u didnt paste it here i find hard to understand ;

http://www.nationmedia.com/dailynation/nmgcontententry.asp?category_id=39&newsid=94526

Homes shunned due to attacks

Story by FRED MUKINDA
Publication Date: 3/26/2007

It has become a common story. A family completes and moves into their dream house away from the madding crowd. But immediately they settle, they are attacked by gangs, making them abandon the house for a safer neighbourhood.

Such tales are common in growing peri-urban areas outside Nairobi where lush mansions have sprung up in what were once desolate lansdcapes. The Ngong area to the south and parts of Kiambu adjacent to the city provide prime examples.

But the problem is also evident in other parts of the country, where armed gangs seem to operate with impunity.

Due to the feeling that police are not adequately prepared to protect all and sundry during attacks, residents vacate their homes rather than live at the mercy of gangsters who seem to attach little value to human life.

Attract workers

At the Coast, several home owners have fled from Kikambala, Mtwapa, Kilifi and Mtondia.

In Nyanza, up market estates such as Nyangena, Gesonso, Nyamataro and Suneka are the most hit by the migration.

Because of their serenity and larger compounds, homes in the suburbs were a major attraction to workers who had lived in town estates which are usually congested and polluted.

Many had invested their savings to buy plots out of towns to build homes.

Years later, the families have started trooping back to the town estates, which they had shunned. Others put up houses for business, but due to insecurity, the premises have been idle since nobody is keen to rent them.

New occupants have also been wary of moving to certain areas where alarming leaflets have occasionally been circulated warning “outsiders” to vacate or be evicted.

According to director of police operations, Mr David Kimaiyo, fresh settlements could lead to demand for new security utilities such as police bases, posts and stations as well as increased patrols.

“Population is one of the key factors among crime prevalence and category offences committed, which is considered before security is beefed up in an area,” said Mr Kimaiyo.

He appealed to residents not to panic and dispose of their properties, saying the number of police officers will be increased in the estates with rising population.

Nation found out that many of the homes targeted were those whose owners were considered to be rich.

“It is also important for people living in the same area to know one another, including their occupations, and it is one of the requirements for community policing. It discourages criminals to stay in the midst of such communities,” noted Mr Kimaiyo.

Pastor William Getanda, who lived at Ololua in Ngong area abandoned his home of 15 years when he was raided by a gang. Separate gangs raided his home 17 times. He is now leaving in a rented house in a middle-level estate in the city, which he considers crowded but safer.

The pastor decided to move from city estates in 1982 when he witnessed bloody incidents during a failed coup.

Distress call

“In case an incident of that magnitude happened again, I had vowed my children would not be exposed to bloody scenes I saw that day,” he told Nation.

Mr Pamphil Mawora Mwashegwa, an engineer with Kenya Airways lives with his family in Ongata Rongai and between November and December last year, his home was raided three times.

His 18-year-old daughter, Christine Samba, was killed in gun fight between police and gangsters who had raided the home.

He raised concern over insecurity in the area noting that though police respond to distress calls, they arrive after the assailants have escaped.

Mr Frank , you are very right on that one , i did just that before buying the shares of cornerstone stocks and c % i leasing .

have u verified that there was no power cut ? how many times have ur own power holding and nepa promised you such and still disappointed ?

you mean to say all that trade shares lose money ?

Yeah, maybe the posts on Nairaland is being noticed by the management of FirstBank

40th thank you for your detailed response , so what about this E-po ? is it same as asking that your share cert be credited to your cscs account ?

how kidnapping those that build roads,i mean roads that pass through your towns and villages,how it helps to alleviate your suffering is what i just can't understand,would they prefer that the roads remain in poor condition ? is that what they want for their people ?

is there anyway of getting posting the transcript of the debate here for those us that didnt watch it ,so that we may contribute ?

Thia is not how to fight for your people ,that road would benefit the Niger delta people a lot .

if i buy them IPOs and ask that my cert be credited to my cscs account , how long do u guys estimate it takes for my cscs account to be credited ?

b4 these developments, standard bank of southafrica have bought 50% of our own ibtc ,and someone keep telling me nigeria is not good to do business with

meanwhile the US EXIM BANK have removed Nigeria from the list of countries that is too risky to do business with ,details below ;

[size=8pt]High risk nations: US EXIM Bank delists Nigeria[/size]

By Kenneth Ehigiator & Emma Ujah
Posted to the Web: Friday, March 23, 2007

LAGOS — THE US Export-Import (EXIM) Bank and aircraft lessors overseas have de-listed Nigeria as a high risk business country in aircraft financing, following the Federal Government’s ratification of the Cape Town Convention which the 2006 Civil Aviation Act engendered.

This came at a time Bank PHB and others in the country expressed their commitments to efforts to assist Nigerian airlines re-fleet with newer and modern aircraft.
Meanwhile, the country’s external reserves is back on the high as it hit $43.38 billion as at March 16, from $41.95 billion a week earlier.

Director-General of Nigerian Civil Aviation Authority (NCAA), Dr. Harold Demuren, who disclosed this at an aviation forum in Lagos yesterday, said the Federal Government’s ratification of the Cape Town Convention was in efforts to empower the airlines for safe operation and growth

“When airlines in the country, in the past, leased aircraft from lessors abroad and defaulted in payment, they run to the court to seek injunctions to prevent lessors from taking over the plane, and this has really put Nigeria in the bad books of aircraft lessors.

“But right now, that has changed because I, as Director-General of NCAA, has signed a bond with these lessors to act as guarantor for the airline and to ensure that they get back their aircraft in case of default. If there is any default from now on, we will simply re-register the aircraft and allow it to fly out.

“This has really increased the confidence of lessors and aircraft multilateral international institutions. They are very happy with Nigeria to the extent that they have removed our name from the list of high risk business countries in aircraft financing and acquisition,” Demuren said.

According to him, the move was informed by the Federal Government’s desires to help local airlines in the country re-fleet with new and much more modern aircraft.
He said the ageing Boeing 737-200 aircraft which most Nigerian carriers use at the moment was too expensive for the airlines to maintain, adding that a staggering 60 per cent of the cost of operating the plane results from fuel alone.

Demuren said there was no way Nigerian airlines could make money for growth, if they keep spending so much on the cost of operating ageing aircraft.
He said: “Sixty per cent of operating cost of B737-200 alone is fuel, and most of our airlines use this aircraft type for their operation. With this, airlines can’t make money.”

The NCAA boss said, beyond providing guarantee for the airlines to acquire new aircraft, the Federal Government had also designating some of them on viable international routes, such as the US and UK, to enable them make enough money for safe, secure and profitable operations.
Speaking at the forum, Managing Director of Bank PHB, Mr. Francis Atuche, said Nigerian banks were, by virtue of recent consolidation, now more than ever prepared to invest in the aviation sector.

“Banks are already looking at pulling resources together to build airports and hotels at airports in the country. So many international investors are approaching Nigerian banks for direct investment. Banks in Nigeria now have sufficient funds to put into aviation financing,” he said.

External reserve hits $43.4bn

The nation’s external reserve is back on the rise as it hit $43.38 billion as at March 16, a result of the bullish international oil market where prices have climbed beyond $63 per barrel.

The reserves had gone down to $41.95 billion a week earlier due to low oil output owing to the Niger Delta crises.
Oil revenue which forms the bulk of the federation earnings suffered shortfalls in January, February and in the current month, prompting the distribution of about N 204 billion from the Excess Crude Oil funds to the three tiers of government on Tuesday.

Minister of Finance, Mrs. Nenadi Usman, and the Accountant-General of the Federation, Alhaji Ibrahim Dankwambo, said separately that part of the oil savings would continue to be used to supplement monthly federation revenue until such a time that earnings could match the approved budgeted revenue.

“We are witnessing shortages in revenue because of the drop in production of crude oil. If you remember, the key assumption we had for the 2007 budget is that we will be producing 2.5 million barrels per day at $40 per barrel.

“We are hoping that the situation will improve in the coming months, but if it does not, we have to resort to the excess crude proceeds account. That is why we have been saving for this rainy day,” Mrs Usman told journalists at a recent briefing.

The AGF told journalists on Tuesday that the Federal Government did not want to allow a funding gap occasioned by drop in oil production which has suffered significantly due to activities of militants in the Niger Delta region.

The Central Bank (CBN) Summary of Economic Indicators for Week-Ended March 16, 2007, said the N43.4 billion reserve could finance more than 25 months of foreign exchange disbursement at the current rate of foreign reserves commitments.

The report said inflation rate as at end-January was eight per cent (year-on-year); average interest on savings account, 3.46 per cent, while the average weighted prime lending rate of banks stood at 17.74 per cent.

“The weighted maximum lending rate of banks stood at 18.20 per cent as at March 16. The average price of Nigeria’s reference crude, Bonny light, stood at $63.09 per barrel as at March 16, compared with the average price of $62.66 per barrel as at March 9,” the report said.

The on-going crisis in the Niger Delta, according to the report, resulted in an average volume of output of crude of 2.15 million barrels per day, as against the 2007 budget of 2.5 million barrels per day for 2007.



sources ; http://www.vanguardngr.com/articles/2002/cover/march07/23032007/f223032007.html

while the naysayers dey here de yab rubbish , telkom of southafrica have bought 75% of a local company in nigeria called multi-links ,i wonder why its an outside that would see the positive side of my country more than my fellow Nigerians,details below ;

[size=8pt]Telkom wins entry to Nigeria with Multi-links acquisition[/size]
By Thabiso Mochiko, Business Report, 23 March 2007
Print || Discuss
Telkom, the fixed-line operator, has finally won entry into Nigeria with the acquisition of a 75 percent stake in the country's private telephone operator, Multi-links, for $280 million (R2.1 billion).


Multi-Links is the second-largest private telephone operator in Nigeria, with 162 000 subscribers. It trails StarComms, which has 400 000 customers. Nigeria has 1.5 million fixed-line subscribers and the country has a population of 135.6 million.

Telkom's chief executive, Papi Molotsane, said the acquisition gave Telkom a springboard for further expansion into other west African countries. "The size and nature of growth of the Nigerian telecoms market, its low tele-density of… 20 percent and its pent-up demand for internet access demonstrates that there is immense potential for future growth, making this an ideal acquisition."

Cadiz African Harvest portfolio manager Rajay Ambekar said: "It is a great acquisition and the price they paid seems not to be over the top … and provides Telkom with good growth opportunities."

Multi-links had all the key technologies that Telkom could build on, he added. "What would be interesting to see, on the mobile side, is how Vodacom would get involved. There is lots of potential."

Telkom owns 50 percent of cellular operator Vodacom.

Last year Multi-links was awarded a unified licence, which enables it to offer a diverse range of services.

Dobek Pater, an analyst at Africa Analysis, said that a unified licence gave room for growth for wireless fixed voice services, because cellular operators in Nigeria were charging premium rates. "Nigeria [has] a growing voice market."

Molotsane said Telkom would immediately gain control of Multi-links' board and operations, to "enable us to manage our investment more effectively and efficiently".

The Multi-links transaction comes a few weeks after Telkom's $20.27 million acquisition of internet service provider Africa Online.

Africa Online has operations in Kenya, Tanzania, Uganda, Ghana, Ivory Coast, Namibia, Swaziland, Zimbabwe and Zambia.

Telkom's expansion outside South Africa is shaping up but it is yet to acquire a national fixed-line operator with a bigger footprint. Telkom wants to diversify its offerings to offset local sagging revenues and has identified Nigeria as one of the target markets.

Pater said appropriate opportunities were becoming scarce, and if Telkom had opted to wait until a fixed-line operator with a bigger footprint than Multi-links became available, chances were that it would be a highly contested company. "There is no guarantee that good opportunities will come up."

sources ; http://www.mybroadband.co.za/nephp/?m=show&id=5958