₦airaland Forum

seunmsg:
Banking and stock broking are different professions entirely. They are not regulated by ICAN. CIBN regulates banking professionals (not banking) in Nigeria while Chartered institute of stock brokers regulates stock broking professionals (not stock market).

Banking is a very loose profession and you don’t have to be a member of CIBN to work in a bank. So many people with diverse background work in banks without joining CIBN. However, as you grow in the industry, you must become a professional banker (member of CIBN) before you can advance to some certain positions.

Yes, Accounting has many areas of specialization but same applies to other professions like law and medicine. In medicine for example, you must qualify as a medical doctor before you can specialize as an orthopedic surgeon or neurosurgeon. Same applies to Accounting. You must qualify as a chartered Accountant before specializing as an Auditor, tax practitioner, management accountant etc.

Bakeroy:
Studying accounting in school does not make you an Accountant, and Bankers are not Accountants, it is a different profession from Accounting, that is why you have Banking and Finance in Schools.

seunmsg:
Why should we have multiple Accounting bodies in the country?

Pavore9:
They are always on the lookout!

Godlylifeoneart:
fellow investors, has any1 observed the DEPRIVATION melted at us by JUMIA NG
One would have expected this company to list on NSE but the opportunity was taken to the US BOURSE NYSE
A company valued at $2.5 Billion would have had an instant impact on the Nigeria bourse.
A company that made almost 70% of its earning from Nigeria economy.
The company that will still make 90% of its future profits from the same economy
TO me ,the listing has more disadvantages. and the disadvantages outweighed the narrow and imaginary benefit they might have conceived
THE DIGITAL GOLD RUSH OF JUMIA AKA AFRICAN AMAZON HAS BEEN TAKEN AWAY FROM US
I WISH A TRUE NIGERIACENTRIC START UP COMPANY CAN EMERGE AND RELEGATE JUMIA TO KENYA
DESPITE ALL THE ODDS,THE UNFAVOURABLE BUSSINESS CLIMATE,THIS COMPANY STARTED FROM GROUND ZERO AND ATTAINED THE CLIMAX OF DIGITAL GOLD RUSH IN SAME ECONOMY.
I WILL NOT BE SUPRISED,IF THE LISTING IS SHORT LIVED,THEY MAY COME BACK TO LIST THE SCRAP ON NSE.
WHAT IS YOUR VIEW ?
The available information at public disposal was that the company was never incorporated in Africa
This imply an identity theft
they stole the african name, capitalised on weak regulatory activities and off they go
African countries are not good enough to be part of their success stories
in other word ...USED AND DUMPED

Mpeace:
This Morgan Capital magic is becoming serious. I just bought some units of Access bank this morning, only to check my portfolio to find that my entire Diamond bank shares have disappeared without being credited with the equivalent number of access bank shares as per the merger/acquisition. All I see on my protfolio is the units of Access I bought this morning.

onegentleguy:
Impressive Nos from ZENITH !!
...With clear appreciable growth accross KEY deriavable revenue and earnings line.

But then again, a good wine needs no bush !!
We are friends with time.
It is well.

Mcy56:
Did I say anything negative again? I received the info before now anyway.

Mcy56:
https://www.sunnewsonline.com/first-aluminium-to-delist-from-stock-exchange/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2318148+%3D%3E+MORNING+NEWS+HEADLINES+&utm_content=91703c13d2a63a3ec463db5ebbebfe405601c186

Deadlytruth:
What's happening there? My SA radar is averse to it.

onegentleguy:
The equivalent proportion of ACCESS bank shares has since been credited to the CSCS A/C of all shareholders of DIAMOND bank who qualified for the merger.
Just compute what ur equivalent ACCESS shares will be by multiplying the volume of DIAMOND bank shares u held on the sanction date by 2 and dividing by 7.
To illustrate;
Assuming u held 70,000 unit of DIAMOND on sanction date, then ur equivalent of ACCESS will be 70,000 x 2/7= 20,000.
...and where there's a decimal fraction of less 0.5, just ignore by approximating to the nearest real integer.
Then call ur broker and ask them to credit ur in-house A/C with ur estimated equivalent vol of ACCESS bank.

But if u desire to sell off now, just compute what equivalent vol of ACCESS u should get, and call/mail ur broker to effect a sell mandate using that figure.
Alternatively, u can simply go to the NSE premium board and trade the ACCESS bank security to effect a sell on the estimated vol u hold, if u have an online trading A/C.
In both cases, though what u might see in ur in-house portfolio is the DIAMOND bank shares u held on sanction date, u will still be able to effect a sell off of the corresponding equivalent vol of ACCESS bank that's due to u.
So u do not necessarily need to call ur broker if u wish to sell ur ACCESS security now. ...but u may wish to do so if u desire to hold but just want it reflected in ur in-house A/C.

As for N1 cash consideration, u simply need to accurately fill out the form(specifically designed for that purpose) by supplying the same exact identification details with ur broker and ur bank, and follow up with the registrars.
...and u'll get the cash remitted to ur bank A/C.

Hope its clearer now.

phemmie06:
OK thank you sir, is it the Diamond Bank share mandate form? If it is I submitted mine as well received acknowledge mail from united securities but my portfolio still carry diamond.

phemmie06:
How did you go about the share exchange sir? Mine is yet to reflect in my portfolio.

Deadlytruth:
Analysis paralysis it is. The Diamond experience taught me a lesson.

Coolcash1:
I think its traffic..It happened to me too...Although not happy with the way they are dragging on the cash consideration payment and share exchange. After almost two weeks of sending them complete e-mandate form they said I need to fill another form, signature lodgment with my brokers for them to validate my signature then payment/exchange can be processed..Trust me nah, as a lagos boy, i don sharparly contact my broker to send me the form which i have submitted today. I was told that the process will take another 2-3weeks between them/cscs and the registrar... Ehn, no wahala i go wait...las las i go collect my money.....

RabbiDoracle:
With hindsight,you saw [b]opportunities [/b]in Diamond. İf Access had not come, what would be of Diamond? Let Diamond release their 2018 YE results and let's all see what people had bought before the Messiah came to save it.

Like Warren Buffett would say: The rearview mirror is always clearer than the windshield.

Rearview mirror=hindsight.

Deadlytruth:
Seems to confirm the philosophy that "the riskier the stock investment, the huger the returns if it pays off in the end". I only hope Chibubear re-entered CHAMS that day. All the doomsday prophesies and predictions on it have failed.

jayfolarin:
I mentioned something similar in one of the threads I created a while back.

Nigerians want the best things. You know, things like the Europeans have but dont want to pay for it. How do expect world class infrastructures to be built when 90% do not even pay taxes. Just with Oil money

It doesn't work that way my friends. Nigerians have to collectively contribute to achieving the Nigeria of our dreams.

Mcy56:
It's glaring one or two guys just sit somewhere manipulating price of chams, hand of coy director voice of MM. It will be good for jijo if they can continue like this after markdown.....until then......

yom2:
non of them dey free from stories. it may take weeks or even months

ndidigood:
OK thanks
I also want to go to veritas registrar tomorrow,do u think is unnecessary?