₦airaland Forum

Born 2be Rich: But oga 9free you be badt guy sha...you no even waste time sef.

But how this Morgan capital wan take dey pay workers salaries with this 0.25% ? How long dis new business strategy go last? No be say if we port finish them go come revert to 1.35% meanwhile dem go don already gather customers. Anyway if dem try am, investors go transfer their accounts back to preferred brokers, simple...

Born 2be Rich: Am calling my broker today to confirm if they are going to slash their brokerage fees just like morgan capital or else am porting.

I don call my yeye broker since but dem no agree. Still observing...

9free: My current watchlist:
1. Presco @ N25.00
2. ETI @ N12.00
3. 1Bank @ N 11.50
4. Vitaform @ N3.00
Is anybody on the wait with me

I dey with u for the First bank and Presco. Waiting to accumulate more Access bank @9.00, Zenith @18.00

Shareholders’ attitude at AGMs is embarrassing …
http://www.vanguardngr.com/2013/09/shareholders-attitude-at-agms-is-embarrassing

Mr. Chinyere Nwankwo and Pastor Williams Adebayo comments wan use laugh kill person.

Audacius: Almost a useful consideration that Stockbroking firms be prayed for at morning prayers. Incase yours is hit, it could make you sweat blood. I can imagine the panic of Cashcraft customers. The typical Nigerian investor does not even know technical details or gives a damn when a negative financial news hits. Panic is the next thing. I think the Cashcraft case is not even about their stockbroking services but their mutual fund. Bedrock and Anchor seem more like mutual funds. Well, the investor gains at end of the day. They will sit up and like Africa Magic, all will live happily ever after.

In fact, some stockbroking firms need fervent fasting and prayers especially the ones that sell investors shares without their consent. Even SEC needs a greater amount of prayers for making it possible for these stockbroking firms to sell investors shares without the appropriate mandate forms. In order not to be caught unawares, investors are forced to sleep with one eye opened. God bless the NSE!

Nice to have you on this thread @Audacius

ETI, Oando Plc under Fire over Ownership, Governance
http://www.proshareng.com/news/21055/ETI-Oando-Plc-under-Fire-over-Ownership-Governance

MorganCapital slashes stockbroking fees from 1.35% to 0.25%
http://www.proshareng.com/news/21067/MorganCapital-slashes-stockbroking-fees-from-135-to-025

Ess: Unity bank and ABC transport have all taken a U turn.
This market needs extra vigilance!

Stockbull and the rest of the Ogas,
They say it is the planting season but I beg which seeds do we plant at this junction because the market seems to have its own take.

The bolded is seriously seconded.

Michael11stock: ok thanks bro guess i just read it also, pls what are the procedure in migrating from one stockbroking firm to the other and which firm do you think is ok for now

INTER-MEMBER TRANSFER PROCESS/REQUIREMENTS

To transfer your shares from an in-active stock broking firm, you need to contact your target stockbrokers and ask them to carry out the transfer of these shares from the in-active firm to their custody. For the target stockbroker to be able carry out this transfer, you need to provide them with the following;
- Your current statement from CSCS (if you have CSCS online access, you can print your statement yourself)
- A copy of your ID card ( International passport, or Drivers license)
- Photocopy of evidence of share ownership such as- Receipt of share purchase, dividend warrant stub, or contract note)
- Bankers confirmation from your bank (the account must be in existence for 6 months and above alternatively, you can provide your target broking firm with your bank details and a passport photograph which would be forwarded to CSCS on a letter headed paper with the company seal affixed)

Note: Your target stock broking firm must initiate your request to CSCS on-line, process an indemnity and submit along with your KYC (know your client) document and the above listed physical document before your account can be transferred. So tell your target stockbroker to give you a KYC form to complete.

presiade: @Oga Elai, hope GTI Securities Limited is not suspended too?

Not sure they are... The list is on page 123 of this thread.

stockbull: Access bank stake in wapic is now unbundled and this will increase the investors in wapic and some othe fundamentals relative to shareholders size while it will have slight negative effect on access's balance sheet.
******
new monies flow into the nigeria stock market is expected soon on the return of foreign investors.the saviour of banking stocks.watch out for fundamentals in this third quarter results.hopefully, the nse would be able to trade on the new platform next month to add flavour to all these.

I heard their registrars will starts sending share certificates and credit investors CSCS account by tomorrow 27-09-2013 with the unbundled shares. I am waiting to see what happens tomorrow.

Godsfavson: please enlighten us "lay men" on what the implication(s) of this suspension to CASHCRAFT is/are. should we be worried and what was the cause of the suspension? can we still carry out our transactions?

There is nothing to worry about. Your stocks are safe and with CSCS. I am sure the suspension will be lifted soon. But if the need to buy or sell your stocks arise, you may want to move your stocks to an active stockbroking firm. However, unofficially, Cashcraft can approach other stockbrokers to help carry out your buy and sell orders- but this is usually done for their big clients or for those who buy and sell regularly. You can contact Cashcraft to know if they can make such arrangement for you incase you need to buy and sell. If they cannot, and you need to do some active trading, then you can transfer your account to any other safe stockbroking firm.

bubba realtor: i do not believe that statement on Cashcraft jor unless i see a detailed report from nse

Hear it from the horse's mouth...


Cashcraft Suspension relates to delay in transfer of Fund to another Manager
We wish to advise that we have been suspended by our Regulators SEC, on account of our management of Anchor and Bedrock funds. This suspension does not have anything to do with fraud.

The investments are intact and in the hands of Stanbic IBTC, who are the custodians. BOI Trustees are the trustees to the funds.

No subscriber has reported any loss of his/her investment since inception.

The suspension came as a result of our delay in transferring the funds to another manager as directed by SEC, because at the launch of the two funds, we failed to separate the accts of the funds from our normal Cashcraft account.

We have long complied with ALL rules relating thereto.

This separation and other compliance issues have long been carried out by us. This notification has become necessary because of several calls we have received from our esteemed clients. The suspension should be lifted as soon as possible, God willing. Thank you.

Source: http://www.proshareng.com/news/21064.html

Suspension of Cashcraft Asset Management Limited

Cashcraft Asset Management Limited, its Directors and Sponsored Individuals, are hereby suspended from all capital market activities.

The suspension is as a result of the company’s violation of Section 155 of the ISA 2007 in its management of Anchor and Bedrock Unit Trust Scheme.

The Operator contravened the provisions of the ISA as follows:
1.Co-mingling of Funds’ assets with its own
2.Violation of the Funds’ Trust Deed and Asset Allocation Policy
3.Failure to file the requisite returns to the Commission
4.Failure to maintain the relevant records/books for the Funds
5.Failure to facilitate the auditing of the Funds’ accounts and consequently hold an AGM

The Operator failed/refused to comply with the Commission’s directive to transfer the management of the Fund to another Fund Manager.

The company, its Directors and Sponsored Individuals shall remain suspended until they are cleared by the Commission.

Source: Proshare

Investor ALERT: Do no transact business with these 19 stock broking firms!

Source: http://www.proshareng.com/news/21045/Investor-ALERT-Do-no-transact-business-with-these-19-stock-broking-firms

9free: Just think of Sir Elai..........
Doing what he knows how to do best; reloading at will!!!!

Lolxxx. I am not reloading o... I don bail out today and am waiting patiently for the stock to fall back to base before I can think of reloading.

9free: hmmmm........For FCMB, watch their cashflow, interbank placement, investment securities, Loan losses, and don't forget to keep an eye on the effects of CRR on their Loan portfolio.
Happy Investing.

Oga 9free what of ABC? I get that one for my portfolio o...

SWG 1: Pls when is the right time to enter the Jegede‘s srap bus at the garage. because i wouldnt like to pursue the bus when its heading north.

So-brit:
What exactly is holding japaul hell down that it refuses to move. Have not bought it though but have always been tempted. I'm looking at royalex@.50 for short term if possible with 10% gain, i will be off d train again

Except if there are favourable news on the stock (e.g. Unity bank case), sometimes it is good to allow the bus move first before taking position to avoid entry "one chance". A lot of stocks have been stagnant at the benchmark price for a very long time thereby trapping investor's fund. Entering a stock at a good price does not necessarily mean entering at the lowest price possible (except for long term). That is why you see analysts giving entry points that are sometimes above the current prices of stocks because they want a stock to break through potential resistance line which will in turn hold as a new support for that stock. Entering at car park can be very profitable but can also be the reverse... IMO

horlla: Hello, I have received my NAHCO e_dividend, though I had to go to their office @,Tinubu and few days after I got the alert.

Thanks a lot. I will do same.

jp130: plz if som1 buys shares in secondary markt n av nt done his e-dividend mandate, wher will d registrar of a particular security gets his adress to post dividend warrant?

From your stockbroker, I suppose.

Born 2be Rich: Pls has anybody received any e-dividend payment from aiico into their bank account? let me know urgently cos the cash needs to be re-invested asap..

I received mine yesterday. But I have still not received my GTB interim dividend. I also have not received e-dividend from NAHCO neither have I received dividend warrant from them. I heard their registrars (city securities) have been acquired. They don't respond to emails too. Please has anyone received e-dividend or dividend warrant from GTB and NAHCO?

Born 2be Rich: I wont be surprised when Japaul will start its own crazy rally..most of the stocks that rallied this year are dead stocks or stocks without fundamental strenght

I sincerely hope Japaul enters the crazy rally train soon... I can't wait

gosj: With the resignation of its former MD, Wanka and plans by Bank off Africa, a UK firm to buy into its stakes, i see Unity bank share price maintaining this current bullish ride for more than a month interval! Jegede shud learn a lesson from Wanka and free Japaul abeg! Investors are not shallow minded!

Investors that may stake interest in the bank include Lagos-based Verod Capital Management, Development Partners International (DPI) based in the UK, and Bank of Africa, an intercontinental banking and investment conglomerate.

Source: The Guardian


Something is definitely cooking...

9free: And some investors like me that entered at N12.00 have entered siddon look mode. But I have sharpened my Mace very well incase this stock comes down to N5 - 8N junctions, I will reload.

That na for sure... I must buy back for the long term when the thing don crash well well. Let the saga continues and let Oando clear the air...

valacious: Is anyone still holding onto oando?

Some investors are selling now to buy later if the price eventually crash due to the Ibori saga while some other investors are confused and don't know what to do. No one knows what will happen next...

9free: Chairman, you too dey among those wey Jegede dey hold hostage for here.
I thought I was the only one.....

Me I still join o... Someone needs to interfere with this Jegede-hostage situation.

jp130: sir Elai, i tot dey said bonus wud normally b creditted 2 ur acct by cscs. Do i av 2 fill form for e-bonus like i did for e-dividend? Plz shed mor lite as am new in d markt bt learni frm u guys. Tnx

You don't have to fill another form for that. If you have a CSCS account it will be credited automatically.

chukyjones: I've been hearing some funny news about OANDO lately. dunno if its what significantly affected it's price today.
**fingers crossed**

Me too, let's wait and see what happens...

9free: Just as you entered JIB when it started moving......
We dey see your handwork oohh.
Abeg no forget ur boyz when you offload

My oga I no enter JIB o... Na siddon look mode I dey since the stock started performing magic...

My question about this JIB- is the stock very liquid? Is there anyone who was able to buy into this stock and sold easily? Please let us know.

adonisvg: pls hw do i get a stock broker in delta state...i'm corp member serving in oleh, delta state. Any hints?

Why not consider online stockbroking firms like Meritrade instead.

mercylicious: Meanwhie, I just entered the train of Unity at 50k. Will sell in the next bull ride and renter again at 50k for February things.

Nice one. It is currently the cheapest banking stock in the NSE. I will enter when the share price start moving...

jp130: i bot courtville b4 d declaration of dia dividend n bonus issue. Bt dey av nt credit my acct wit d bonus issue yet. Y? N wat abt dividend? Hw do i go abt dat 1? I just did d e-mandate form yestday wit my broker. Plz is dey oda ting i shud do dat am nt doing 2 get dat dividend n bonus?

I am not sure if bonuses get credited quickly like dividends. However, if you are registered for e-bonus then it will be credited electronically to your CSCS but immediately after the bonus approval. Otherwise, the bonus certificate will be posted to your address. Since you recently sent out your e-mandate form, it may only be effective from subsequent declared dividends. The dividend payment date was 08 August 2013 so they must have posted your dividend warrant already. You may call the registrar to confirm if your warrant has been posted.

phemmie06: Thanks, hope they don't give conditions, just like eco that said, I have to have been banking with them for at least two years.

I don't think so. I was not given any conditions though I have been banking with them for almost two decades.