₦airaland Forum

Guy, it will cost you nothing less than 50 million.

Diamond Bank Plc made history yesterday across the shores of the land as it became the first West African Bank to be listed on the Professional Securities Market (PSM) of the London Stock Exchange (LSE).



The peak of the epoch making event, according to a statement from the bank, was the ringing of the bell by the Group Managing Director of Diamond Bank, Mr. Emeka Onwuka, signalling the starting of trading on the floor of the London Stock Exchange.



The event was witnessed by captains of industries, top government dignitaries including the chairman of Diamond Bank, HRM Igwe Alfred Nnaemeka Achebe; Mr. Pascal Dozie, Founder, Diamond Bank; and Director General of the Nigerian Stock Exchange Prof Ndi Okereke-Onyiuke.



Also among the dignitaries were the Director General of the Nigeria Security and Exchange Commission, Mr. Al Faki; and Mr. Chuka Eseka, MD Vetiva Capital Management Limited, who was the Financial Adviser/Domestic co-coordinator for the offer and a host of others.



Commenting on the admission to the LSE, Diamond Bank CEO said “the listing is an important step in the evolution of the Bank’s strategy and is aimed at raising stronger capital base, attracting new shareholders, raising its international profile, enhancing the leadership position of Diamond Bank in the middle market and developing the Bank into a reputable financial conglomerate”.



Head of Primary Market, London Stock Exchange, Tracy Pierce, also stated: “I am personally delighted to welcome Diamond Bank to the London Stock Exchange. This is the second Nigerian company to be listed in the London Stock Exchange and the first Nigerian company to be listed on our Professional Securities Market, and we hope that many more companies from Nigeria will follow."



In the same vein, Okereke-Onyiuke did not hide her emotions. She said: "This is a major fulfilment for me as Diamond Bank has placed Nigeria in the world map, especially the world financial system, by being listed not just in the London Stock Exchange but the first African company/bank to be listed in the Professional Securities Market of the London Stock Exchange. This is because the Professional Securities Market is the cream of the London Stock Exchange and you must pass through a rigorous process before being listed in this market. I do hope that many more Nigerian companies will come and be listed in this market."



The offer enabled Diamond to raise US$500million through 37.6 million newly issued GDRs, each representing 100 ordinary Diamond shares. The settlement price per GDR has been set at $13.30 and will be traded on PSM.



The offer proceed will enable Diamond expand its footprint through traditional and electronic channels in order to seize the growing Nigerian retail market, enter new business segments like Mortgages, Insurance, Investment Banking and also strengthen its Francophone West Africa expansion.



Diamond Bank’s market capitalisation post-offering is now N263.2billion (US$2.3 billion as at January 02, 2008), while its shareholders’ fund is in excess of N100billion. Morgan Stanley is the Global Coordinator and Sole Book-runner for the offering.



The Bank had its first major foreign equity capital injection in April 2007 when an international consortium led by Actis Capital LLP, as strategic investor, injected $134 million into the Bank. The investment gave Actis a 19.1 per cent stake in the Bank. Actis is a leading private equity investor in emerging markets, having significant investments across Africa, China, India, South East Asia and Latin America. Actis’ approach to investment is long-term and partner-oriented.



Diamond Bank has strategic relationships with international financial institutions and export credit guarantee agencies, thereby strengthening the Bank’s structured trade/project finance capacity and enhancing its contribution to the development of the economy. Such relationships include on-lending/trade facility arrangements with International Finance Corporation (IFC), European Investment Bank (EIB), Africa Export & Import Bank (AFRIEXIMBANK), US Export & Import Bank (USEXIMBANK), FMO and DEG.



The Group operates a leading Nigerian bank offering a wide range of financial services and products throughout Nigeria. Historically, the Group has focused on banking small and medium sized companies in Nigeria, with a particular strength in trade finance. In order to meet customers’ needs, the Group has maintained a geographical presence throughout Nigeria. In 2001, the Bank obtained a universal banking licence from the CBN and in recent years, the Group began to expand its products and services (including insurance and mortgage products), as well as its customer base.



Established in 1991, Diamond remains one of the strongest in Nigeria and its core strengths lies in its unique SME business model and its solid brand associated with integrity, professionalism and good corporate governance. The Bank considers itself to be a true “universal bank” in Nigeria, offering financial services across the entire client spectrum, through over 139 business locations in Nigeria with absolute commitment to quality. The Bank believes that it is well-placed to leverage its historical experience in the middle market to access the developing Nigerian retail market and expand into the existing market for large corporate clients.



Members of the Group include one offshore banking subsidiary - Diamond Benin, which operates seven branches in the Republic of Benin and five non-bank financial institutions (NBFIs). The NBFIs are Diamond Securities Limited, which provides brokerage, asset management and registrar services; Diamond Pension Fund Custodian Limited - one of the four institutions licensed in Nigeria to provide custodian services under the new laws following pension reform in Nigeria in 2004; ADIC Insurance Limited and ADIC Life Assurance Limited, which provide life and non-life insurance services in Nigeria; and Diamond Mortgages Limited - a licensed mortgage company.



Diamond Bank earlier declared an impressive half-year results, showing 71 per cent increase in profit before taxation to N7.3 billion for the period ended October 31, 2007 from N4.2 billion recorded in the corresponding period of 2006. The remarkable performance of the Bank was as a result of the growth in business activities following the successful implementation of the Bank’s business strategy post-consolidation. In recent times, the Bank has introduced some innovative products and significantly enhanced its business model, gaining substantial mileage in the retail segment of the market. It has also strengthened its presence in the middle market where it has traditionally done very well.



The Bank has introduced cutting edge products in its resolve to provide creative solutions to customers’ business problems. Some of the value-adding products introduced recently include Diamond Reach, a non resident account designed to offer Nigerians resident abroad the opportunity of maintaining account in their home country Nigeria. The Bank also introduced a novel product called Diamond BusinessXpress Account. This is a specialised current account designed to support the growth of Micro, Small and Medium Enterprises (MSMEs) with attractive features like free transaction cost and easy access to credit facilities.



In response to the need to facilitate effective payment for trade transactions between countries in the West African region, the Bank launched Diamond NGN/CFA EasyTrade. The product is meant to facilitate payment for goods/services by the Bank’s customers and non-account holders involved in intra-regional cross border trade between Nigeria and the Francophone West African countries, especially Benin Republic. The Bank also raised the bar in the international trade operations in Nigeria with the introduction of a document and transaction monitoring service tagged Diamond Trade Tracker. This is a web-based service designed to provide corporate customers access to on-line, real-time information on their international trade transactions at no extra cost.



The recent investments in promising financial services sub-sectors, i.e. insurance, mortgage and pension funds, will improve the growth, earning mix and profitability of the Bank’s business over time. Conscious of the fact that these businesses are outside its core competence areas, the Bank is working with very competent and experienced firms to speedily position the subsidiaries for market penetration. ADIC Insurance, for instance, has entered into a strategic alliance with a leading South African insurer, Hollard Insurance, toward the launch of a veritable assurance model in Nigeria. - ThisDay

Investors Alert

Dear friend,

Investors are hereby informed that henceforth, the Central Securities Clearing System (CSCS) has discontinued the conventional monthly CSCS Statements sent to stockbroking firms for their respective clients/customers.

CSCS has therefore advised clients/customers to subscribe directly for online access to their accounts with an annual subscription fee of N2,500 payable to CSCS for a direct access to their statements.
This subscription form can be downloaded from CSCS website on www.cscsnigerialtd.com.

Kindly download a copy of this form and other related forms at www.proshareng.com/blog.

The completed subscription form can be submitted through your stock broking firm, or can also be sent directly to CSCS for processing with the payment instrument.

NOTE: Kindly visit www.cscsnigerialtd.com to register online before submitting the form for activation.





UPDATE ON FIDSON NIGERIA LIMITED

This is to inform all investors that participated in the FIDSON Private Placement that allotment for the Private Placement had been concluded and return monies are available to the applicants. Investors are advised to contact their receiving agent(s) for the return money and units allotted.



APPRECIATION:
This Investor Management Service Update is provided to Proshare by Zenith Securities Limited/Meristem Securities Limited.
Copyright 2008 Proshare Limited. All Rights Reserved DeleteReplyForwardSpamMove,

I have just been scammed out of $1100 on www.alibaba.com by a Gold Member. I have dealt and still deal with 2 genuine Alibaba sellers, so I do know that there are decent guys out there in China.


The details of the name of the scam person I sent money to was Deyou Chen in Putian City, Fujian, China. The fradulent company was Xiamen Zhongpin Technology and they are no longer registered on Alibaba, but I am sure that they are still on there using some other name.


Anyway, I have greatly analysed myself to see the signs that I could have picked up to indicate that I was dealing with a scammer/fraudster.


I have prepared a list below of all the current Gold Member sellers on Alibaba who I believe are scammers. There are a few clues:


1. These sellers list many items in many different product categories, normally the highly desirable items such as Laptops, Ipods, top or the range mobile phones, PDAs, GPS Navigation systems, Nike trainers/sneakers, bikinis, jewellery, watches, handbags, This is a big clue that they are out to scam you. Also, some of them state that they are a clothing company yet they are listing products for electrical goods,


2. They are all from Putian City, Fujian Province, China. I have since discovered that this place is rife with fraud.


3. They all request payment via Western Union or T/T (Telegraphic Transfer), where they have bank transfer details it is in the name of a person not a company name. (Please note that I do send money via Western Union to a company that I have been dealing with for 2 years in China, so sending money via Western Union does not necessarily mean that someone is scamming.)


4. They claim to have been trading since before 2007 yet they have only been registered on www.Alibaba.com since 2007. This is another sign of a scam.


5. You will frequently find them available to chat to on Alibab's TradeManager, Yahoo Messenger or MSN at unsociable hours in China. (i.e when most people and legitimate businesses are sleeping in China they are up trying to ensnare you and get you to wire them money. They will give you excuses like they work hard - yes this is correct because they work hard to try to scam you!)


Some of these companies will send you a non-existent tracking no. after you have made payment. The sad thing is that alot of them have been reported to www.Alibaba.com for not sending anything and Alibaba has done absolutely nothing to remove these gold member scammers from their site. I feel like someone with more resources should take some legal action against Alibaba and www.yahoo.com for aiding and abetting rampant fraud. (Yahoo, www.Yahoo.com, owns part of www.Alibaba.com and they get a fee everytime someone registers as a gold member) The way I see it, Alibaba should require extra verification and proof of stock from people applying for Gold membership in Fujian Province, China.


So, I hope I will help prevent others from being scammed too by providing more information on the internet - information which I myself did not have before I sent my money to the female scammer.


The list below contains some of the scammers I have identified. If you are lucky to get your order delivered it will be a fake, like a fake iPhone or a fake Nokia N95. I have read so many instances where people who ordered mobile phones, such as the Nokia N95 have received only what can be described as a toy phone.

i am sorry friend ,some one told me this is come and carry level what does that mean?

are u a real seller or a player? if your real seller kindly halla at my mail felixweah@yahoo.com

GBASKY @ friend check ur mail thanks

Offer close thanks

@felixweah
can i use your services to pay for fees online:education, training e.t.c.??

Yes, is accepted 100%

brushparke @ people have already start using our service in Nigeria

CONTACT ANY OF THİS NUMBER and e-mail World Wide Virtual Visa Cards Customer Support
For further assistance, please contact us 24-7,
USA :   1 786 6934 021
UK   :  44 703 1899 194
EMAILS:
Jennings: Jennings@worldwide-virtual-visacards.com
Sim: sim@worldwide-virtual-visacards.com
Alex: alex@worldwide-virtual-visacards.com

Ask of felix ok?   don't be asshole here

@NUDEMAX The Card is a credit/debit card but the difference is that you don't have the physical card at hand and you only spend what you loaded on to it

cyberjaya @ why are you mad alone here? i have told you to e-mail www.worldwide-virtual-visacards.com and ask about me there don't cost confution here i work with the same company and the company are building my own website which will be soon out don't be crazy here alone , do what i ask you to do simple send mail to the sale@worldwide-virtual-visacards.com or any of the mail on the website and ask about Mr Felix weah his name is Sim .Do that and get back here soon. respect your self Man

cyberjaya @ Okey Sir i wil change it lol, send mail to the real website and ask of felix

check this out : https://www.nairaland.com/nigeria?topic=102675.msg1804663#msg1804663

cyberjaya @ Thanks for your honest mail. about the URL i am not trying to steal the company's name i work with the company and i am about to have my own company under them which will be out soon ,you will able to reach me on the URL on my signature in 3 weeks to this time ,this is why i use my own URL for my own advert for now .

Thanks

Dorcasde @ nice to hear from you you can send me mail to felixweah@yahoo.com thanks

it is working parfectly try this:- http://www.thewholesaleforums.co.uk/forum/bad-supplier-experiences/15465-alibaba-gold-member-scam.html

copy this link and past on ur browser http://www.thewholesaleforums.co.uk/forum/bad-supplier-experiences/15465-alibaba-gold-member-scam.html

if they use our card it works with any address

this is why i post here cos i can get you the credit card on ur name halla ta me

tony86 Chinese, Help us to put your legs with ur ass and run back to china ,we dont want you here with ur little eye

- @You stated paypal verification, what address is to be used for transactions, etc.


if they use our card it works with any address

N4$ @ Thanks for the comment

MITNEXUS @ i dont need your help My question is, will this business profit me if I transact it in NIGERIA?

Na u fall mugu ,why do you send the iteems to him without cash at hands?sorry oooo