₦airaland Forum

Ofon etie etie.

Mbok e di edi tang iko efik/anang/ibibio/ejagham e.t.c mi o.

Imagine only 10% reduction on the basic salary. Is this not a mockery of the salary reduction in view of the present economic meltdown?

Madness is a relative term. All the politicians who rig elections and loot our treasury with impunity should be tested as well.

Good. I think EFCC has just woken up.
The warders should please ensure that their cells have no light and should introduce Mosquitoes with teeth into their cells to suck the hell out of them. Heartless criminals.

Why shouldn't he visit Ghana before Nigeria? What do you think Nigeria is - Better than Ghana? I don't think so.
Obama has chosen to visit countries that are important to America's interest. Period.

@ How can that be possible?
These lawless cabals have developed thick skin at curses and abuses from every quarters. Not even the preachings in the churches/mosques can change their hardened hearts.

Something other than peace is needed to bring change.

Nigerians believe in deciet. Truth ,and whatever is pure, is an aberration. It is a sad situation. That is why nothing works. People decieve people is the motto.

Earthworm on suicide mission BYL

Bailing

Dramatically

474

Indomie noodles.

Biz.

No. I no want trouble o.

Cast and bind the demon that kept it there.







Messed up the bed with pee.

Noooo. I didn't post o. I only keyed in some letters here. Bye.

Thumble bee.

Remember that salutation is not love.

See the way e open teeth like somebodi wey e dey take snuff.

I beg oooo, EFCC deal with those power rats (Ugbane & Elumelu) for us.

the bear is here, you can have it. this is your time; infact the market is yours NOW.
but your DAYS are numbered.
i see blood but, whos knows what a see-saw is? that is what i see in NSE, but the spanner/wedge that will keep it in one direction is almost near it.
do you want to know when?

Fraudsters hijack share dividends

By Peter Egwuatu
LAGOS—THERE is palpable anxiety in the nation’s capital market as fraudsters have started hijacking shareholders’ dividend warrants, a development that has caused registrars of issuing houses to warn banks against endorsing third party accounts for the payment of dividends.
Registrars who told Vanguard last week that the hijacking of dividend warrants is becoming alarming in the country advised shareholders to be careful.
Speaking exclusively with Vanguard, Managing Director of First Registrars Limited, Mr. Bayo Olugbemi, said “fraudsters are hijacking dividends generally and not that of First Bank alone. So, it is a development that affects most quoted companies.
''It is not a new thing but the magnitude is rising. Shareholders are advised to key into e-dividend initiative. Banks should also not allow dividend warrants to be paid into new accounts of less than six months. They should also ensure Know Your Customer (KYC) proper.”
Similarly, the Managing Director of Union Registrars Limited, Mr. Soji Olagunju, advised that stringent control measures should be put in place by banks to make “diversion of other peoples' dividends very difficult. Banks should know their customers very well and allow dividends into named payees account only.”
He added that endorsement to third party accounts should be discouraged totally as this will go a long way in checkmating fraudsters.
He also advised that “shareholders should embrace the e-dividend policy for prompt and safe collection of their dividends.”
Also, a director of Valueline Securities Limited, Mr. Erem Erem, told Vanguard that the dividend warrant of one of the company’s major clients was hijacked by fraudsters in Benin-City, Edo State, recently.
Said he: “Some banks officials connived with these fraudsters to defraud investors. We are still investigating the matter. We have reported the case to the management of the bank (name withheld).
“The fraudsters target dividend warrants with large value and use it to open a fresh account and after a week or less, they withdraw the entire amount from the account.
''It is a very bad development, especially at this period that investors are being encouraged to re-enter the market. We are trying to build market confidence and some people are there damaging the market,” he added.
Erem, however, advised shareholders to be very careful with their dividend warrants.
He said: “Any shareholder who happens to change address should equally notify the registrar as well as the stockbroking firm that he or she uses. They should also patronise the e-dividend initiative.”
The e-dividend payment system automatically allows dividends to be credited directly into shareholders accounts within 24 hours of payment by the company.
Under this system, companies are to meet the obligations of dividend payments when due, and all parties involved in the implementation process are to remain dedicated and fully involved.
The Securities and Exchange Commission (SEC), had earlier stated that companies that fail to meet payment obligations immediately after their Annual General Meeting (AGM) will be sanctioned.
It would be recalled that the launch of the e-dividend initiative was as a result of the effort of stakeholders — SEC, CSCS, Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), NIBSS, stockbrokers, registrars, tax authorities, banks, issuers and shareholders associations, among others, to frontally tackle the problems of unclaimed dividends which has adversely affected confidence in the market.
Under the modalities for the e-dividend payment system, SEC had said “registrars are to collate bank accounts from shareholders. Registrars and NIBSS to prepare a standard e-dividend payment data and form which would be completed by shareholders.
Banks to authenticate the e-dividend data forms. Registrars are to submit banks’ details to NIBSS.
“NIBSS would link registrars to NIBSS server via PC, digital line and prescribed modem. Registrars to process dividend net of tax, on payment date and withholding tax paid to special account at FIRS or state Board of Internal Revenue, as the case may be,” it added.
Commenting further on the modernity of the e payment system, SEC said, “NIBSS will further verify data integrity. They will submit the file within 24 hours to all banks in Nigeria to enable the accounts of the named e-dividend beneficiaries to be credited. Upon receipt, the banks will credit the beneficiaries’ accounts within 24 hours. NIBSS would forward a compliance report to SEC within 24 hours. Any un-applied funds (for any reason e.g. dormant account) shall be returned to the registrars within 24 hours,” it added.

(Source:Vanguard)

These fraudsters should pity shareholders abeg. Imagine the bashing on the morale of investors in 2008 due to the economic meltdown. Infact, some guru contributors on this thread are yet to surface because there are still under the trauma . Atleast, if not for anything, the dividends can be used to buy tombo to cool down the nerves

Hmmm. I hear you. Is it the brain of the recruits that should be examined or the brain of the political godfathers who sponsored them into the force? How many recruits in the force did not come through a godfather?

They should continue to decieve us and themselves.

b 458

Koala

Blinking

em em _{clears throat}

House

Please who have idea about this?
My mind de do me jigbi jigbi like railway 419.

Fear is the opposite of faith. So keep fear at bay if your faith must work.