₦airaland Forum

Please, I need a piece of advice from you. I have B.A. English for about 12years now. I have been in business since then. Now, I want to further my education with a PhD as my goal. I could easily walk into my department to key in, but I want to move away from Language courses. What area of studies would you advise me to take? Thanks as I expect your candid advice.

Father of 2,
Please, I want your candid opinion/advice.
Before I start, I must state it here that Pumping has warned me about CASHCRAFT but I didn't listen; that is now history.

This is my story, please I beg you, take your time and read it:
I took 3m loan from a bank by presenting some share certificates (not yet verified) and a list of stocks in my cscs account mostly banks' stocks(not consented by my stockbroker). The bank manager accepted them on personal recognition and for the fact that the sum value of the stock is over 200%  of what they are giving me as against 130% their offer letter asked for . Although, he informed me that the collaterals must be perfected before their year-end.

Some time last month when Dangote SR announced their intention to give 1 to 5 bonus share and 50k dividend, I instructed my stock broker(Cashcraft) to sell my 20k units of UBA and buy 20k of DSR and add to 22k I have already in order to maximise my bonus and sell off immediately after the closure date. Unfortunately, my account officer in CashCraft erroneously put for sale 50k of UBA(which I didn't have up-to) and 50k of DSR as against 20k I instructed him. The next day, when my order was not purchased and my UBA was not sold, he called me and tried to explain that the mistake was why the transactions were not carried out . I accepted it in good faith and him to amend and rebook.

Before then, I had sold some of my insurance stocks and asked Cascraft to buy Trancorp with the money realised. They sold my insurance but could not buy Transcorp then. When the price went up too high, I asked them cancel the order.

As at the week before, and that of Easter, nothing was done then i travelled. There in the village I didn't have access to the internet so i couldn't monitor my account. When I returned from my Easter break and accessed my account with CasCraft, I discovered that My account was seriously on huge debit. Behold CashCraft bought 50k of DSR for me at NGN47.5 on credit and debited my account without my consent. Secondly, they bought Transcorp at NGN4.4 after I had cancelled the order leaving my account with over 3m debt and NGN20,000+ interest within few days. When I confronted my account officer, he argued that I didn't cancel the Transcorp order(a lie from the pit of hell). I accepted it because there was no written evidence to prove my case. As for the DSR, he has no cover for that and then offer to sell it off at NGN38+ after the marked down. But then i considered the fact that if he goes ahead to sell the DSR, I would lose over NGN400k, I asked him not to sell believing that the price will appreciate so that I will reduce the loss, hence the waiting game commenced.

Last week my Banker drew my attention to their end-of-year therefore the perfection of the collateral becomes imperative/imminent. He wanted me to sign a document for the placing on lien my stock(banks') with my stockbroker. I asked him to hold on knowing fully well that CashCraft would like to recover their 'imposed loan' and all their interests first before looking at the request of the bank. Which means that they will sell NOW and believe me, with the current bearish reality in NSE, I will be badly hit(losing over a million, charges, interest and time not included) if that happens. On the other hand, If I posit obstinately and refused to sell, I would have committed amorality suicide for betraying the trust of my banker friend.

The above is my story: a man in a dilemma; between the devil and the Deep Blue Sea.
NOW, WHAT DO I DO?
I want you to advise me as you would do to a friend and also as a professional in the field. God bless you.

He! He!
Where is everybody? Is there any war going on in this part of the technology? The last post I saw here was by AKtopgun and that was in the afternoon(Naija time), many hours ago.
Make una Respond OOOOOOOO!!!! otherwise I go cryoooooooo!

@All
Abeg make una tell me what to do.
I asked my broker to buy me Transcorp 2weeks ago and Dangote Sugar(because of bonus) but he told me that transcorp was not available and for DangoSuga, he mistakenly over booked above the available fund, when realised it, he cancelled the order as he told me.

I forgot about them and travelled for Easter; only for me to come back and saw in my account 100k of Transcorp @4.4 and 50k of DangoSuga @47. hanging a debt of almost 3m on my neck. When i confronted them, he told me that I did not cancel the transcorp order but for the Dangosuga, if I like he will sell them(including my initial 22k units) to pay off my debt, then I will keep the bonus and dividend.

But my dilemma is this: if I sell Tangos now, i will be losing close to 700k, if i don't sell , I will pay huge interest at the end of the day on the debt. Secondly, I don't know what will become of these stocks in a short term(gaining or losing). This is because only short term can help me in this situation and I need to make a decision whether to sell them now or wait a little longer. But I must take a stand now!!!! Please help o!!!

@all
abeg make una tell me wetin be cico and some other terms we una they use here o!

@blueband
Thanks man, I don exprience that kain thing but they reversed it 5 days after without any charges. Maybe because e no be big money.
I go dey very careful this time around because e no dey easy atall out here for naija. Why I dey use them still be say I de fit check my transactions online and other thing like stock appreciation parcentage. I no know another broker where I go fit they do all these things online.
However, thank you very much.

@blueband

Your seems to be a goodman. Don't mind them jor!

Seriously, my eyes just caught your signature where you warned of cashcraft.
Please I am interested because all my hard-earn stocks are all in their custody.
Please give me a detailed reason for this your remark so that I will reconsider my stand.
When well experienced and more exposed guys like you make a remark, one needs to take it seriously.
I will be very glad if you honour my request.
God bless you

@speedy08
Thank you o!
I'm comforted se you answer me. May God bless you o!

@all
I beg make una answer me now abi I comit crime?
If I buy Dangote Sugar shares now, se I go follow get their bonus and dividend?
God bless you as you reply me o!!!

ALL
I be dey enjoy all the postings for this blog o!! Una welldone o! may god bless una well well o!

I be wonda nobody dey talk about Dangoye Sugar Bonus. Abi I dey miss something? Because me I wan buy so that I will get the bonus and dividend abi they don close their book? Abeg make somebody save me from this blunder where I want  comit so o!!

All
If sombodi collect this UBA-SHAREPLUS and tekam buy the pre-listed/approved stocks, she him fit de trade with dem? Like sei him go tell the broker to sell and buy another one from the same list?

@esimoni
thank you for your link but ibi like se i no see the list of the outstanding shares of any company for the link, abi na me no sabi look? abeg, if any website they where i fit download am, make you tell me .

Thanks for your concern.

hello Gurus in the house. I be J.J.C for here o! I beg make una treat me with suuru! I wan no how I fit get the list of the oustanding shares of all the stocks where dey for NSE. abeg make una helep me.