₦airaland Forum

2 BR flat starts at 100M

The one that surprises me is that people actually snap up these assets . And them say money no dey Naija   Ok, we will see how far after I've relocated to Nigeria. No be london salary person dey take buy that one.  

My main observation is how foreigners are hitting jackpot all over the place. If it's not exclusive hotels the Chinese are building, it's the South African's doing their own thing. You'll almost be grateful for finding a good hotel room because the've snapped up everything.

Na im I sidon for London dey help bank make money,

UAC-prop was selling apartments in 1004 estate at one time. Not sure if the sale is still going on.

Was initially interested in the 1004 apartments, but backed out eventually. I think it's all been sold now, though there are some re-sales. The the closer I looked at those tall buildings, the more I thought maintainance will be a major issue. Well, maybe UAC will pull this one off, but somehow I'm not convinced. 

IBTC is also selling some near the walter carrington area. Might be worth checking out

Fear no go gree me ask them for the price sef! The kind big money them dey call for that Nigeria you go think say na from tree person dey pluck am.

why would you go and pay $400/night for a hotel

I thought the local rates alway better, but in this case it wasn't. The $ rate worked out cheaper. The name of the hotel is Sofitel Moorhouse in Ikoyi. This was an executive room, but quite honestly, was the size of a standard room anywhere. I bet there are cheaper hotels though,  but I prefer to stay here, protea or Eko hotel which I'm used too,

I really need to get a good apartment on the Island ASAP. First thing I'll do before relocating,

thanx for your reply how much is the opening balance for vetiva and do they provide online portfolio

Account opening for Vetiva is N1M.  You need a reference from your bank or introduction by an existing member.

I've had some very good feedback re: Vetiva and yes they are online. As a matter of fact, they recommend mandates are made online, before 8:30am each day for same day execution.

stay around Opebi/Allen ,loads of cheap nice safe hotels.

The thing be say na Island all my business dey, and location is key if you don't want to spend all your time in Nigeria in Traffic. Brokers, Banks, registrars - most companies are in VI, Lekki or Ikoyi.

how does one transfer portfolio to another broker? what eactly must be done--thanx

I'm not doing a transfer,  just moving money to the new broker. For example, I sold a good chunk of my DSR and Access sometime back to lock in profit. I instructed IBTC to wire the funds to my current account. From there, I'll transfer the funds to my Vetiva stockbroking account.

I no get time for account transfer wahala, and frankly don't need to leave IBTC entirely. In these days of cico, roro and all, best to have too sound brokers representing,

Na wah, I just returned from Nigeria, managed to retrieve my oceanic certs. When I got there, I was told all certs had been sent out, SEC had come round  the week before and asked that they post everything out. Went to my post office box (conveniently opposite the Registrars on Awolowo road) and found a slip to call at the counter. Eventually collected all 300,000kg of my oceanic loot  


Opened a second account with Vetiva, I was impressed by their profesionalism. As for IBTC, my broker sent someone to inform me she was "busy on the phone" and whether someone else could help. No problem there anyway, as I'd already made up my mind to move 50% of my portfolio to Vetiva.  

ATM's dey work for Naija true true oo! Generally, I think Naija's looking promising,  loads and loads of opportunities to pile up the dosh. Naija is the only place I've been where a  standard hotel room cost $400.00 per / night. As for me, another couple of years and I'm outta here, go make myself some seriousss dosh in Naija.

@mastermove,

Yes oo! IBTC's good if you want execute only relationship. Brokers sift through emails you send them and decide which one to respond to, if at all.

I'll keep them but open a second account with a smaller, nimbler company.  I particularly don't like that mandates not received by 6pm  the day before trading by IBTC are not executed. While this may be an improvement over some other firms out there, I don't expect it from a company that sets a N10M account opening requirement.

@frankiriri, Ola007

Thanks

Good I checked this out, I guess I'll need to "meet" with the malams right outside.  

Excuse the deviation, question for y'll,  is there a daily withdrawal limit from Nigerian ATM's? Hitting Lagos on Saturady for a couple of days visit and will be trying out my Zenith card at the nearest ATM,  make I no come go hook   . Don't particulary like dealing with those malams at the airport  


@RoughCut

BTW:

Anybody who needs to get in touch with Oceanic registrars you can ring them on 01-815 2470 or 01-813 8623. Try the second number first.

Not getting through to any of these numbers,  I'll let them know what I think when I drop in Monday.


Considering opening a second stock broking account,  going for Vetiva. Need a second broker as a counter balance to the impersonal service provided by IBTC.

This NSE sef.

Abi na Transcorp dey mop up their own shares to position themsef?
That Evans medical I no to understand wetin come dey drive the price.

Abeg Napoleon, wetin you wear for that ThisDay award sef make I see wether I go remember you? Abi you win lifetime achievement award??    

E get one man wey come say he dedicate im trofy to the Northern Nigeria since Yar'Adua tell am say na him be the legal "doyen" of northern Nigeria (?). I no sabi say that kine appointment dey Nigeria oo! 

Yar'Adua is without doubt a major dissapointment, dull and ineffective. A visionary leader would first do a simple impact analysis - the most important by far being possible damage to investor confidence. Negotiation is a veritable, powerful tool that EVERY goverment employs  at times like this.

Now we know why nothing works in Nigeria, especially under this President. Reversal of policies is his only conduit to popularity and acceptability. Even the power sector emergency has been stepped down. Can't he be original for christ sake? His goverment is so reactionary, with his kitchen cabinet, mostly drawn from Katsina state, dealing with important decisions of state on a day-by-day, adhoc basis. Where is the vision? Where is the underlying, sustainable and forward looking strategy? Abeg, make tribunal save us from this pain please.

Back to Transcorp,  investors need not worry. I believe fortunes are to change imminently. Maybe this action was required to focus the minds of all parties to their responsibilities. For those with a HIGH RISK APPETITE and interest in short-term CICO (3 months), now may be a good time to take a position. I expect a lot of  mopping up of shares in the next week or so by those behind the scenes. When the suspension is lifted, you may not find to buy. 

As usual, CAVEAT EMPTOR.

I think everyone should show face on this forum to stimulate even more varied analysis

I suspect say many peps wey dey recommend for this forum don buy the stock finish before them announce am, as a workaround to the issue of silent deep-pockets.

Na the reason why  peps get to do their own research too oo,  because e go get as e be, if peps come dey recommend stocks for here wey them wan offload   !! Chei! I no sorry for the silent deep-pockets in this case sha, na the small investor wey they find them feet for this NSE maze na im I sorry for pass oo!

When I see beginners dey ask for CICO, RORO, taleban etc  stocks, na recipe for serious hypertension una dey look so.

I was one of the main supporters of Transcorp,  bought a large qq of the shares at (N6 or N3 after the split) at the PP. Even during the turbulent past, my support remained strong. But It got to a point where I saw danger signs, that's when I sold ALL my stocks a few weeks back at N3.50.

You may ask what the signs where?

1) The Yar'Adua (Umoooru) goverment is a pupulist and visionless one. I knew it was only a matter of time before this President sanctioned the revokation of the licenses to score cheap political points, or did something similarly drastic.

2) The board of directors are self serving, greedy and full of big egos. What is Jim Ovia doing setting up Visafone when he could easily have worked with TransCorp to do something similar, if he had any commitment whatsoever to the Transcorp vision? What was Dangote doing setting up a major telecoms company and bidding for a 3G license when he is supposed to be a major player in Transcorp and Transcorp needed all the help it could muster to get going? The truth is that they alll joined at the time to please their benefactor, OBJ. Their commitment is hollowness personafiled.

3) Why was there hardly any news coming out from the company,  the website is hardly ever updated. Shareholders are left guessing.

4) Ndi Okereke, unfortunately, started suffering a haemorage of credibility. She has a habit of overstating facts, making unsubstanciated, unconfirmed and unverified statements where it concerned TransCorp. What was she doing dishing Christopher Kolade to the Press when he hadn't even been approached officially to be chairmain? His refusal to be chairman, and comments afterwards was exactly what T'corp could do without at that point in time.


I have to say I'm glad I got out when I did. Sometimes I wonder though, what would have been, had I over two years ago when I invested in T'corp PP shut my eyes and I picked any 3 companies and invested in them then instead of in Transcop. Then my broker insisted I bought Oceanic (N6), Access (N2) etc etc. My portfolio value in the NSE today would have been well in the 9 figure range,

Well, Transcorp was my first investment in the NSE and I have learnt an important lession. No fundamentals, no interest.

As for Umooru, I was an avid supporter of his initially, but now I have to say, being removed by the election Tribunal will be no bad thing at all. With Yar'Adua's lacklustre performance so far, the likes of Atiku (the greedy thief) start to look like Visionaries.

@debenzd, many thanks,

The problem with T'corp is that everything that could possibly go wrong, did.

First, Ndi is a liability. She shoots from the hip and is full of soundbites. I've long since started treating her comments with extreme caution.

The much vaunted BOD are a selfish, self seeking bunch. Ovia, Dangote and co. They had much bigger and less contentious fish to fry elsewhere. They only got involved with T'corp to satisfy OBJ's yearnings when he was in power.

Initial management team - Nicholas Okoye etc - were clearly not up to it. I attended the PO roadshow in the UK and honestly wished I hadn't.  Their presentation was woeful, their message was as empty and hollow as it gets.

The list of what went wrong is endless.  But I think things may actually turn for the better in the next year or so. The goverment is likely to loose this case if it ends up in court. This should give T'corp space to operate without the hanging shaddow of a populist goverment. I also think it's the FG that should divest from Transcorp completely. They add no value to Nitel / Mtel, rather weigh it down with their public sector inertia.

My only fear is that with all this wrangling goin on,  will any potential investor with deep pocket be motivated to get involved, ?

Has anyone here received their Oceanic Share certs from last PO? Anyone know the tel # for Oceanic Registrars? Make I call them sharp sharp b/4 tory enter.

If Transcorp was not placed on TS it would have reached 20

I doubt this was the reason for the TS.  More likely to avoid the inevitable run on the stock. The share price would have crashed to < N2 in weeks.

This populist and gallery singing goverment of ours are unlikely to rescind that decision that easily, hence this may drag on for a while. In the mind of most investors, this is a major setback.

I bought Trascorp @ N3 during the PP and pulled out at N3.50 months ago. Not going back (unless I can buy for N2.00!) until there is light at the end of this very dark tunnel.

The mere fact there has been very heavy trading in this stock in this last couple of weeks

I think this had more to do with the imminent announcement by Transcorp of a strategic / technical partner with deep pocket. The goverment pulled the carpet under their feet!

This Umooru goverment sef and their desperate, pupulist agenda !

I'm interested in buying Transcorp shares @ N2.00, any takers?

Hi all.
I know I have been MIA.  Na work pressure and an unfortunate accident way happen towatds the end of last year. My younger brother was gunned down.  These issues  has turned me to one of the silent readers.

Chei, my deepest condolence to you. May God give you , your family the strenth and fortitude to bear what is withouth doubt a big loss. 

This Naija and violence sef!

One good that can come out of this is that it sends a message to Bank executives. Better it happened to Wema than to the Firstbanks, Zeniths, UBA's etc of Nigeria. That one for be fire for fire.

PHB on strong offer

One thing I've learnt to avoid  (especially with the CICO methodology) is greed. For most stocks, I'm out @ 20%, that's my target and will even settle for less. With the volume I trade, suits me just right. If e like, make e reach 50% sef, I would have lost nothing. Hopefully, I'd have booked my seat on other jets awaiting clearance for takeoff anyway.

For CICO disciples, I cazint fit to understand why anyone would not have bailed out of Wema long before the TS? Abi them dey wait make the thing reash N20? Chei for  this market, one gats to shine im eyes oo - or as Mr Risky put am, e fit cause high tension oo!

Bros, i beg i get money wey dey my account dey do nothing, wetin u recommend make i buy on thursday or friday for CICO.I BEG TRY ANSWER ME MAKE I NO CRY FOR YOU OH!

Before FO2 answer arrive, you fit borrow me that money for "short term" make e no dey too lonely for your account? E get wetin I wan take am do sharp sharp. 

Abeg, if u get any solution make we share am jare.

Account opening is the key. If the surnames are the same, it'll be easier to open an account with multiple initials. That way, you can pay in any cheque paid to the same surname and any of the initials on the account.

If the surnames are different, then will be a little more difficult. Going forward, I recommend the following -

1) To apply for ipo's with multiple names, open a stock broking account, apply for the ipo through your
stock broker. That way, any returned money is paid to to broker, who can credit your account. This
happens all the time with my stockbroker. I just got a big refund credited to my account for the DFM
(chei, that Aliko man harsh o! )

2) Open a bank account with multiple first names. Apply with all these names that way you can pay in cheques.

3) Set up a companies( like  Special Purpose Vehicles). Open bank accounts in the names of the companies.
Buy ipo's in the names of these companies.

anyone with today's bid/offer positions?

Make you wait make dust settle small,  bid / offer position dey on e way.

BTW, looks like Skye Bank have become scarce walahi,  My feefle for this channel no
dey take eye see better thing.

Na to load up some more on UBA. I think say February go be month for UBA and Zenith.

Open a Nigerian bank account in each name and lodge the respective cheques.

To open a bank account, you need id's in those names. If those names where made up, then bro you gats a major dilema on ya hands. With the thatcher allocation wey Aliko dish out, I doubt it has all been worth the trouble.

Even though AIRPHB is not gaining altitude, it isn't losing much either. This is a good sign for better things to come. Am holding on to mine for now.

You consider a loss of almost 5% as not lossing much attitude? I think this is a sudden loss of cabin pressure caused by panic selling. As I pointed out yesterday, the slight loss of mememtum was going to encourage profit takers to deploy parachute rather than oxygen masks.  .  Abeg jare make turbulence hammer this boeing 737 make e loose altitude by another 5%. I sold at N32 yesterday and will be very happy to cycle back in on Friday if it drops another 5%.

For Air PHB, I think say the best time to open parachute na today @ 32 when plane dey over Abeokuta. Any extra mileage to Lagos Airport for safe landing na jara. Panic selling fit pull the thing enter 20's tomorrow. If my broker no execute my mandate today @ 32, na one trouser me with am go wear be that 

Does anyone have Q1 result for Skye Bank and the Outstanding shares (excluding current PO shares) please?

Looks like this one is being fuelled for take off oh

if care is not taking,you can dissapper with the money aswell

True talk

my brand new range rover no go pass this year

UBA and Oceanic were adjusted for dividend payment today, that explains the 'drop' in price.


Has anyone tried to buy Zenith lately? Looks like it's on strong bid.