₦airaland Forum

I got the account number from the contacts listed here. I could post the account number here but wondering if that is proper. If you want I will email it to you.

The email also stated.
Purchase or sale mandate should be forwarded to ordersuba-s at ubagroup dot com.
Request for statements should be forwarded to ubastockbrokers at ubagroup dot com.

Naijadr:
@NBA I tried to get UBA to add me to email list but I don't think my relationship officer understands what I mean, how did u get added on? Thanks

@Naijrdr
My relationship officer took care of it. You can also contact them directly, I updated the other thread with the info.

Daily bid positions -

Folks,

Been pushing UBA on the Stockbroking thing. I will go forward as it seems you can cut out the middleman (the very effective NRN team).

The NRN team confirms one can deal directly with the Stockbrokers but insists the payment to UBA stockbroking must go through the NRN current account. Deal breaker for me.

I contacted the Stockbroking directly and they say I can pay in the money directly to them and even sent the account number. Works much better for me.

I need speed reading class to keep up with this thread.

@K2 no  mind UBA.

Got another email from them telling me the same thing (The CHAMS private placement began and closed yesterday. It was for a select few and hence only lasted for a day).

Only to find out here it is still on. CHEI! (pumping no vex)

ARESENAL 4 EVER(taking cover) GIANTS and JETS no let person gbadun NFL for NYC area 

yodiyokun:
@NBA,

are you now using UBA stockbrokers? if you are what is their service like?

@Easimoni,

I beg who is your account officer at Lead? I am getting frsutrated with their services.

No response to emails, even when I call , the guy keeps telling me he is not in the office yet at 7pm Naija time and that he will reply my email later - no show.

All my orders in the last 3 weeks have not been executed - and no explaination.

The last sum of money I paid into GTB took a week be4 they credited my stockbroking account and this was after calling many times oo.


I am extremely fed up, I have  alot in cash now and they just keep bungling up my opportunities to buy, its absolutely ridiculous.

I still want to inject more capital but this is highly discouraging.

@All I just needed somewhere to Vent.

If not that the likes of FSDH are out of my reach presently?

anyone with ideas?

yodi

@Yodiyokun

I just opened the account for wifey and got these today, I haven't run it yet.

About your stockbroker, kpele O! I don't have these issues with Vetiva, so far anyway. The service may not be personal (no dedicated account officer) but the advantage is someone always responds since several people receive the email requests. They also execute orders placed on-line before 9 am sameday.

bigjay01:
bobs where u de?, u de sleep so?, the offer document has been in the public domain for sometime. someone posted it on this forum, or use this link http://www.stockmarketnigeria.com/forums/attachments/private-placements/109d1199379368-chams-private-placement-chamsprivateplacementmemo-1-.pdf

I have the doc, was checking if it was closed as someone mentioned here today.

I wonder how UBA Stockbroking staff no get the document yet but the good news (hopefully) is it is still open.

Reply from UBA Stockbroking about CHAMS PP.

Good day,

Chams private placement memorandum opened today. The coy is offering 2 Billion shares at N2.50.

We are yet to have access to the memorandum and would send you the information as soon as is available.

Regards,

Yup

I just started receiving these -

Quote from: windywendy on January 04, 2008, 06:32 PM
OK thanks. I have other questions though. I'm wondering if I should just send you an email or post it here. Perhaps I should post here so that the forum can benefit:

1. When you issue your mandates by email, do you send it to just your account officer or do you cc other folks (I do this with FSDH just so that in the event that my a/c officer is unable to trade that day, someone else could execute).
2. If you do cc other folks, then can you PLEASE really really please send me their names by email: windywendy121 at hotmail dot com. Thanks.
3. Do you use them for all of your transactions (for instance with FSDH, I use their address for all transactions including Private placements, so they get all of my certificates, dividend warrants, etc and handle from there)
thanks in anticipation of your response.


1. I send an email only to my Relationship Officer. He sends a one liner to confirm receipt. He is an Associate and has others working for him in his team. He has a blackberry so an email is as good as a phone call. He will now forward my request to any of these folks in his team who now take care of my orders. Otherwise, I have no other dealings with them directly but I remembered them all directly during Xmas and New Year after the fact.   My own way of showing appreciation for the good work so far (American style).

2. Not Applicable. At times, if the main guy is not around he will tell me to contact any of these other guys directly. It's the only time I deal directly with them.

3. Yes, I use them for all my transactions. Best option but I think you have to request it so ensure it is set up for you.

This is a conversation form the thread Stockmarket tips for Nigerians. Take note of the sentences highlighted in bold.

If you are comfortable with such a setup, I think it works great. I have the same setup with Vetiva.

eagleu:
Do you know what type of charges they impose on UBA NRN Savings? How about if you close the current account into the savings, and operate the thing periodically.

Bye the way does anyone know if UBA in New York is violating any US banking laws by all these mean spirited deductions?

I am charged N100 for login on my NRN Savings, monthly or quarterly, I have to check.

bigjay01:
@

Na waaaa ohh, I am being charged N5 for every N1000 leaving my UBA NRN current account, in addition to a monthly maintainenance fee of N105.

From now on, all transfers to be made from my savings account

The problem is that the saving account (openend ages ago when I was in Nja) is not part of my NRN suite of accounts and I don't know how to add it to my NRN suite.

Any suggestions?

No be joke but I hear all Nigerian banks have these sort of charges, others with accounts with other banks please confirm.

Per your savings account, check with your relationship manager, I suspect they can work something out.

Etin:
Thanks, you are right there I called them on friday and was told that I would need a current account to et the stockbroking service. I'll just wait for them to get the post I sent then I plan to scan another copy with current account checked on the forms. Diamond Bank would have been fantastic but the stock brokerage service, I don't seem to get the quick response i get with the Diamond Reach team. I plan to have that as well then i can always use the best depending on the deal.

Though I have the current account I avoid using it as much as possible. I will have to find out if one can deal directly with the stockbrokers i.e. fund the stockbroking account directly without the NRN current account and also communicate directly. Otherwise it may be a deal breaker for me.

naijaking1:
Yes, I mean the PO certificates. I'm still trying to open some form of account here in NYC- UBA.

I don't have a broker, a recommendation?

The UBA stock brokers any good? Is it too much risk to tie everything down to UBA?

I use Vetiva and I recommend them.
http://www.vetiva.com/

I am in the process of opening an account with UBA stockbrokers so can't comment yet but some like the idea of having everything under one shop. There has been discussions about this on previous posts.

Etin:
@NBA

Thanks and a very Happy New Year to you. I guess the time zone difference makes UBA a much better option for you as you can deal with the New York office. I have started the process with UBA savings and capital market account. I would see if it lives up to my expectations.

@Etin,
I actually have no dealings with the New York office. The account reps I deal with are all in Lagos. My personal preference for dealing with Naija is through email, I like the convenience, paper trail, and the use of the emails for reference.

By the way, check to be sure they will do a transfer from the Savings to the Stockbroking account. It was posted somewhere here that a current account was required, I avoid using the current as much as I can. I will ask them about it too.

naijaking1:
@NBA

I just got my UBA certificate. The question what do I do next?

@Naijaking1
Do you mean your certificate from the UBA PO? If so you need to send it to your broker to be lodged into your CSCS account.
I recall you were considering opening an account with UBA.

For those interested in Diamond Securities, here is what I got from the Diamond Reach rep.

Diamond Securities Limited is an affiliate of Diamond Bank and a registered member of the Nigerian Stock exchange.

Diamond Securities Limited business is simply buying and selling of shares. To buy or sell shares through Diamond Securities Limited, you will need to open a stock broking account.

The requirements are as follows;

1. Fill out account opening forms

2. Afix a recent passport photograph.

3. Photocopy of a valid I.D. (drivers licence/international passport).

4. Minimum deposit of N500, 000(all of which will be used solely for share purchase)


Statutory charges;

There are statutory charges for every transaction on the floor of the stock exchange.

For purchases the charges are 2.355% of the consideration (brokerage, NSE, CSCS, Vat, stamp duty all inclusive)

For sales the charges are 2.65% of the consideration (brokerage, NSE, CSCS, Vat, stamp duty all inclusive).


Kindly note that Public offers do not attract any charges.


For clients abroad, soft copies of the account opening documents can be sent to them to fill and then sent back, further correspondence will be carried out via emails and phone calls. An account officer will be allocated to the client to follow up on his/her transactions whilst providing advisory services as well .In addition, the client will receive daily market report as compiled by the research team.

The Bank PHB offer closed officially on 19th Dec.

Hope you find this information helpful.

blueband:
How can I register with Vetiva.I think futureview is charging me something in the region of 2.4%.But i believe this is for sell orders only as my statement for buy orders do not reflect any charges.Can someone explain this to me.

JJC

@Blueband
I was referring to the broker’s commission only - the other fees are mandatory. With Vetiva, total transaction cost is 2.44% for buy and 2.77% for sell.

@ all - I tire for these stockbroker oh. You would think that the high end brokers would offer excellent service but from all indications it seems finding an excellent firm is a rare gem if not impossible  

This is really sad.

@Gudchoice
Consider Vetiva.

Upside
-I haven't had a lot of the issues mentioned here.
- They have been very professional and responsive. Been with them 6 months. N1 mil to open.
- The on-line portal works well. I issue orders on-line before I go to sleep (EST), before I wake up order executed and contract note issued. The only time I get emails is when the order is not executed usually due to price limit I set or scarcity.
- I like the fact almost all my communication with them is via email.

Downside
-  I would say the service is not personal, used to have an account officer but now get an email from the equity sales distribution list. Not an issue for me though.
-  Also don't like that I have to mail the PO forms since I do not have a nominee account with them though an exception was made recently for me. Again shouldn't be an issue going forward as I am fed up with the PO/IPO thing.
- Broker commission is 1.5%. Tried to renegotiate after FO2 revealed broker commission is negotiable but no joy. However it seems 1.5% is the norm for mainstream brokers except maybe for ZSL which I understand is 1%.

@Etin,

Happy New Year!

Nice gesture no doubt, I suspect I won't be getting a card - LOL!

If only they are as responsive to emails like UBA and Vetiva we'll have no wahala.

naijaking1:
@NBA
Is there any need opening a savings account and a domiciliary account with UBA.

I have heard so many horro stories about UBA domiciliary account deductions at every turn of the transaction.

I have all 3, the Savings, Domiciliary, and Checking/Current but most times use the Savings to keep the costs down. I haven't had use for the Dom to date. I send money to the Savings then transfer to third party UBA account holders for free.

Nimshi:
Hi guys; I'm looking for perfomance data for mutual funds, particularly Discovery and Aggressive Growth fund. Anyone able to help, please let me know.

GTBank online transfer is back on stream with some modification.

Etin: do you know who your mail was forwarded to in Afrinvest Lagos?

NBA: the question's been asked before, do you know if a reference is necessary for opening a stockbroking account with Vetiva? Does Vetiva bank with GTBank?

Cheers, and thanks.

Hi Nimshi,
Yes Vetiva requires a reference from an existing customer or your bank(I think). Vetiva banks with Diamond Bank.

Per ARM Discovery funds, checkout their website - www.armdiscoveryfund.com
Attached is the AGF Factsheet.

I have an account with them but their service wasn't impressive.

I have been to www.ubagroup.com but cannot find the basic things like services, charges, policies, etc - and the account opening forms. Does anyone know how to get the UBA Stock Brokerage account opening forms and how to initiate the process? The website: http://www.ubagroup.com/stockbrokers/default.asp appears scanty.

I believe someone posted earlier you need an NRN current/checking account for the Stockbroking account (I wonder if this is so for resident Nigerians)
I posted the additional forms needed for the Stockbroking here: https://www.nairaland.com/nigeria?topic=79353.msg1785844#msg1785844

About the NRN Mortgage, I heard the rates were quite good (compared to local Naija mortgage rates). I recall a friend telling me his sister got around 10% a while ago.

@All

In a document UBA sent last April 07, they mentioned giving orders directly to the stockbroking unit. The document is too large to attach here, I suggest you check with your relationship officer.

Customer sends in orders to purchase or sell shares to his/her NRN
Relationship Officer/Manager, who in turn verifies the customer's
signature, confirms the instruction, immediately forwards it to UBA
Stockbroking and keeps a filecopy. Alternatively, the customer may
forward the instruction to UBAStockbroking directly, but they MUST
notify NRNto confirm the order. Averbal confirmation MUSTbe
obtained when the shares are to be purchased in favour of a
beneficiary other than the account holder.

Wishing everyone a healthy and prosperous 2008!!!

Wishing each and everyone reading this a healthy and prosperous 2008!!!

I found this posted on Stockmarketnigeria.com:

UBA stockbrokers Contact

--------------------------------------------------------------------------------

UBA STOCKBROKERS LTD, 10TH FLOOR , UBA HOUSE, 57, MARINA, LAGOS. TEL: +234-1-2644651-700
For Enquiries, contact:
moradeke.ajayi@ubagroup.com
or
charles.egbunonwo@ubagroup.com

or e-mail UBA Customer Services (they helped me out a-lot):
CIC@Ubagroup.com

Seasons Greetings Everyone!

Mr. Cee:
NBA, Do you have brokerage account with UBA? I thought u are with Vetiva?

@Mr Cee,
I am in the process of opening one for madam, I am still with Vetiva.

@Dis Guy

Wednesday and Thursday were public holidays in Nigeria.

For stockbroking services there are 2 more forms - Stockbroking account and CSCS form. There is also the Stock Transfer form if applicable. See attached.