₦airaland Forum

Brother , you are hitting the nail right at right spot .

Well i tried to clikcing on the rights issues on the firstbank offers site and was told it would start on the 21st of may , maybe by that time it might be more clear .

Hello Mr Frank ,
I am intrested in the referal incentive that you talked about , how would i go about it ? if u want to email me details , its denchuks@gmail.com or u may reply here also , i may give u a call too
Also am a little confused about how to make use of my rights as i already have 4000 shares of Firstbank , i understand that am intittled to 571 shares from the PO at the rate of 31 naira , but i just dont know how to take advantage of this , i dont want to lose the rights as i hate losing any money

Hello Guys,
I hope u would forgive my digressing , but i would like to know if UBA bank operates on sartudays and if yes what are the timmings ?

barge:
@ all,especially ijogbon, Dis Guy, Tmoni y los demas ,

Your idea is brilliant and i will suggest you speak with Frank .Am a member of his Betta Club, you guys can discuss merging your ideas . I like your dreams about putting up huge sums to shake up the market.Here we all have a definite purpose, lets take practical steps to actualize these ideas.I will be ready to input my little resources. The journey of a thousand miles starts with the first step.Lets take the first step now.

I am in supporting of merging with Frank club , it would make both clubs much stronger financialy and otherwise , also if the new club would go it alone , who knows someone might come up with their own clubs making it three and b4 you know we would have several clubs with little impact.

You are welcome , and i wish yopu success .
Do you have some website of yours whjere those us that are based outside the country can see anfd read about your company ? Where is your ompany located in Nigeria ?

With the state of electricity , roads, security and other basic infrastructures that are needed for a manufacturing enviroment , i think the president is trying to shift the blames of his failure to someone else

Hello guys , have the FirstBank public offer started yet ?

Tmoni:
ok, we are ready again for midas and his companies,

with the way, these offers are comming, all my money would go into stock and i still feel the money market cause i dey see my money straight for account.


well, any how we will go through,

is it possible for me to take a loan on my existing stocj to purchase more stock?

This is an interesting question and i would like to know if anyone has some answers on it , if one takes loan on an existing stocks and fail to pay up in time (God forbid ) which one of the debtors stocks would the bank take over , the old stocks that was used as collateral or the new stocks that was bought with the loans ?

enolase:
the most important thing is that u need to have a CSCS certificate. Whatever the case, the amount of money you are talking about is not too much.

stockbrokers have to eat my brother. simply get one where u will pay the least and get your stuff verified.

most good things in life cost money. u know why it's called currency? because it flows like a current, from one person to the other.

get my drift?

Your argument is wrong, if the NSE says it should be free, then free it must be , dont support cheating even if its 1 kobo thats involved , its still cheating .

Which Dangote again ?

Well if you have newpapers about " anini " i might be interested

na waaoooh , wetin i no go hear for this nairaland ? anyway best luck sha

Anyone with link to this Stockwatch thing ?

It was here in Mumbai, India , I slot in my card and waited for the machine to ask for the pin but it didn't ask for it . I kept inserting the card and yet could not get prompted for the pin, i went to the security man and asked him whats wrong , he took my card and this time he didnt slot it in , he rather swiped it and removed it again , then the machine asked for the pin .

AN audit of the Federal Government's foreign debt payment totalling $15 billion between last year and last month has been ordered by President Olusegun Obasanjo. The debt payment was for the Paris Club and the London Club of creditors.

Consequently, the Debt Management Office (DMO), the government's agency in charge of debt management has appointed PriceWater and Coopers to execute the job. The outcome of the audit is expected on May 16.

The DMO Director-General, Dr. Munsur Muhtar disclosed this to reporters in Abuja at the weekend.

Muhtar said: "The scope of the audit will cover all the payments made to all the creditors at various stages of the transactions, and also payments made to all the financial intermediaries, including investment banks, payments made to financial and legal advisers and all commission charges arising out of these transactions, which were paid to government agencies or non-governmental agencies.''

He added: "We have also requested the auditors to do a process audit, for example to really assess the selection process that was used for the financial and legal advisers, and intermediates - the investment banks that were used, to ensure that they conform with the acceptable norms in terms of procurement.

"The DMO solely decided on its own to get an independent audit of all these transactions and applied for Mr. President's approval. We later got the approval of Mr. President on this."

The debt management agency said it firmly believes that this is consistent with the "ethos of transparency, accountability and good governance" that President Obasanjo's administration has been "trying to entrench in the nation's institutions and in the way the government does its business."

Muhtar said the audit also permits Mr. President to prepare a comprehensive handover note to the incoming administration, which will be made up of independently authenticated and duly certified records relating to these transactions.

"So, it is not the Federal Government or Federal Ministry of Finance or the DMO or the Central Bank of Nigeria that is giving these records, but we are having the records verified by independent auditors," he said.

Muhtar explained that following the President's endorsement, DMO went ahead to select an audit firm that will carry out this exercise. The selection, he added was through a competitive bidding, using the method of selective tendering from which four key audit firms were identified.

He listed the four firms identified as: KPMG; Deloitte; Ernst and Young; and PriceWaterhouse and Coopers (PWC) out of which PriceWaterhouse and Coopers was selected to carry out the exercise.

He spoke further: "The process has already commenced in earnest. We expect that the report of the audit firm will be ready by the third week of May, in fact May 16 to be precise. When the report comes out, we expect that Mr. President will share it with key stakeholders including the National Assembly and the states."

"One of the things we have also asked the audit firm to look into is in relation to the utilisation of the excess crude of the states, and the balance of liabilities. Although we have a little handicap here in the sense that the reconciliation processes are still ongoing.

"But based on the preliminary data that we have, we will want to be able to get verification from the auditors in terms of how these payments would have been applied. That is why the states are important stakeholders in this. It is our hope also that auditors' report would be available in the public domain. We have no objection to having that in the public domain."

According to Muhtar, the audit will cover all the transactions related to the Paris Club debt exit and London Club debt redemption process. It will not cover the debt service the DMO has been making from 2000 to 2004.

"Already, those have been captured on a year-by-year basis by the Accountant General of the Federation in his report to the Auditor General of the Federation."

The DMO boss explained that "every year as a first-line item, a statement has to certify the debt transaction that has been made. So, that is not a problem. The one that we want to focus on is the Paris Club and London Club debts exit payment. That is, the exit transactions - the transactions related to the exit of Paris Club and London Club debts.

"This is only debt exit. As I have said, we will only look at the excess crude only to the extent where some amounts were used to exit the Paris and London Clubs' debts payment. Part of that amount belongs to the states and part of it also belongs to the Federal Government."

The DMO is scheduling a major press conference for next week. It is tentatively scheduled for May 7, subject to confirmation.

According to Muhtar, the press conference is to provide an opportunity for the media to obtain further clarifications and ask questions on any issue pertaining to these external debts exit.

"We are going to have the coordinator and Senior Special Assistant to the President on MDGs (Medium-term Development Goals), Amina Ibrahim, present at the press conference. She has been responsible for managing the utilisation of funds freed from the debt relief. We will also have some of the ministers or their representatives at the event, particularly the ministries that have benefited from the debt relief," he said.

Under the Paris Club Debt exit treatment, Nigeria made the following payments: First tranche payment - $6.3 billion paid in November 2005; Second tranche payment - $1.387 billion paid in December 2005; Third and final tranche payment - $4.498 billion paid on April 21, 2006. There were also CBN's 0.5 per cent commission charges amounting to over $30 million and other financial and legal fees to consultants.

On the London Club debt payments, the following disbursements were made: Par bond - $1.486 billion paid in December 2006, Promissory notes - $512 million paid in early March 2007; Oil warrants, - $82 million paid on April 4, 2007 as well as CBN's 0.5 per cent commission charges and financial and legal fees to consultants.


source ; http://www.guardiannewsngr.com/news/article02

What do you think about this move from the president ? Does it portray the president as being transparent ? please share your opinion .

McDoe:
egoldman, I don't need to argue with you because your points are very cogent. Some of them are actually dubious. But considering the fact this delegation might have the backing of the Indian Government, don't u think that will make them to be honest in their dealings?

Well, first of all , the only proof from the thread started that the delegation is related to the Indian government, is that his email id is from the Indian High Commission web domain, which to me is not enough, any hacker could hack their domain and create an email id from their domain name .
All am asking for is that there should be mutual respect and benefit , and with the way they treat Nigerians here , I do not think its right to just receive them with open arms as if all is well with our people in their place .Believe me if you know how fierce their press is here , you would agree with me that if we don't treat their people well in Niger, they would be the one to raise the issue before the delegation would touch the ground in their country , our people should do same .

savesoul:
@ebronzeman
Why are taking everything personal?
Are u a mathematician? i am offering my opinion and its none of your business

If only you would see the contribution mathematics have made to advancement of the world , then you would understand why your bashing of mathematics and those that study or studied the subject , would make someone to take it personal .

KayB:
@egoldman
Please i'll like to talk wt u if will assist me because am about to make some transaction from india and since u said u stay in mumbai i will appreciate your views my mail is kaymillenium@yahoo.com

KayB, i have sent you email .

McDoe:
egoldman, have you forgotten that self conduct has a lot to do. Most of these ill-treatment we scream about are self inflicted. It is high time we did what is good in the eyes of the 'globe'.

I understand that you are based in Nigeria , so i do not see why u are trying to portray what happens here in India more than I, thats been here for sometime now, ofcos we have bad eggs among Nigerians here but that doesn't mean all Nigerians here are bad , we have also many good ambassadors for Nigeria here.
I wish that u watched a bbc documentary on fake drugs in Nigeria, its origin and effects .I would like to let you know that when the head of NAFDAC came here to see the Indian government about the fake drugs that are being manufactured and shipped from here to Nigeria , they refused to let her in, i mean she went to see the person who heads the same department like Nigerian NAFDAC , but they would not open the gate of the office for her ,she faxed them and there was no replY , called and also no reply .
Do you know why they did that ? they did that because as far as the export of fake drugs brings in foreign currency for them , they don't care where it ended or the Nigerian that dies as a result , if the Indian government would stop the companies that make those fake drugs, and also stop the exportation of the same , then the work of NAFDAC would have been cut by half.
And to show you the most wicked part of this , Dora and the bbc team went into town to see if the same fake drugs that they ship to Nigeria is being sold in India, but they would not find any of it , so you could see that they make sure its not sold to Indians but don't care if its sold to someone else .
Now this same people say they are sending a Business delegation to Nigeria and someone is trying to sound excited as if they are coming for some mutual benefit , business delegation my foot they are nuttin but snakes and before u know it they will do what they did in uganda here .

Dis Guy:
Thanks @ egoldman, got the contact info

your welcome my brother ., remember to tell her Daniel gave you her contacts

samsilo:
I am still asking , what started this hatred?

check the first post in this thread and u would see the starter made a very serious mistake ?

you say they are not 4cin themselves on us,but u seem to 4get dat their bribes can,and talkn abaut global village,u should first ask nigerians here if they treated like citizen of the so called global village .

The motive behind banning textiles importation is a good one ,but a situation where the government have not provided power for the textile factories to operate , how can the ban be sensible ? there are other issues like this that make the ban look stupid , you have to create an enabling environment , then the ban would make sense ,but with the current power situation and infrastructures, it makes no sense .

Anyone with Afroil website link ?

Mr. Golibe:
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You might as well tell any body who ought to know about this!!!

Which kain nonsense be this ? Dont you know how to navigate through the forum to the appropriate section ? commot here jare

junegirl:
Can someone please advice on which fund manager to use. I like the weekly report that Futureview gives but they seem to be limiting their services to high net worth individuals. I understand Cashcraft is quite slow in responding to emails and stuff, and that's the most convenient way to communicate now. Some others like Northbridge, who also seem to be efficient don't like to hear amounts like 50k, 100k.
SO where can i open an account with as little as 50k and still get quality, efficient service and profits?

it seems none of them is good in everything , some are good with their minimum requirements while others are good in their quick response ,some are good with their research team while others are good with the kind of updated information you can find of their site , the best is to try to see which one comes closest to your needs and use them .

savesoul:
All this is Bullshit!! Real Bullshit. Make them go Use Mathematics collect money for Bank. Mathematics is the worst applied sciences ever known. they are always solving rubbish, solutions that wouldnt improve mankind I HATE MATHEMATICs for real

What kind of nonsense post is this ,thank God for Seun , if not that he would ban my ass , i would have called you the name that fits people who post such rubbish

uchetobi:
Well. while we dint exactly vote for yaradua. He is the best candidate out of everyone that contested. Even though we don't exactly like PDP lets keep an open mind

Exactly my point .

Well wait for the schools to open , asking for the email ids of bankers is rather suspicious .

Oprah should do an episode on him , but ooh, i forgor he isn't from Nigeria

@egoldman
What is the minimum amount required to open an account with cash craft. I didn't see it on their website and their conditions were too many. Are you allowed to dictate what you want to buy or do they manage your portfolio for you? My cousin is interested in opening an account with them, and she would like to be in charge of her affairs but when i downloaded their form, i didn't like the too many conditions. Give me gist.

@cheexy
Cashcraft state N1 million minimum but you can negotiate and open the account with a lower amount as long as you will be a regular investor
I have been using them since Feb/March this year

I must say the Nigerian factor is also an issue with them

, slow to respond to emails, requests, purchase orders etc

But the website is good and you can just about folllow your investments online when the website is updated that is

I also registered with cashcraft around same time Feb this year ,one of their agents told me that i could start with 50,000 naira , and later the one that became my account manager told me i could start with even 10,000 naira , and actually the first money i deposited to their account was only 40,000 naira to test them ,i have built it up from there ,but they didnt complain of the amount ,they bought stocks for me with it .
Below is a quote from an email sent to me by my account manager when i asked about the minimum that required to register with them, i don't know about the 1 million naira thing ,except if its a new rule ;

you can call me with the below numbers anytime of the day .Thanks you will receive the best service and superior returns on your investment .you can start with N10,000 to a trillion , little by little you will get to the top.what to know more about us .go to www.cashcraft.com
They did have some server problem sometimes back which made it hard to login to your account , but that has been fixed and i could log in and view my account details ,i can also view my cscs account details from withing my cashcraft account , also there are features to give buy or sell orders from withing my account .
i do think they have a good research team and have lots of updated info on their site which you can make use of even if u are not registered with them .
one thing i don't like about them is that sometimes they would be slow to respond tour orders , but i think this has to do with the growth of the company, they are over two decade in the brokerage biz and its seems they are getting short of staff to accommodate their growing client base.i hope they would improve on that .
good thing about them is that your account details are safe at least to logical conclusion, they have secured site which u will notice one u try to login and the http protocol would change to https , so the chance of someone stealing your info and giving false order on your behalf does not arise .
they do have account where you can deposit money and it would be credited to your account , i don't use this as i pay them from Nigeria .
Zenithsecurities has good services too , have a very professional website both in design and programming, they have this nice feature that would send u instant notification whenever there is buy or sell order executed on your account , though the cashcraft people seem to have a better research team .my beef with them is that they have 1 million minimum for dealing with them .