₦airaland Forum

Here is a video about United Capital fixed income. Rates doesn't swing like stocks, just for steady returns purpose.



https://www.youtube.com/watch?v=DLSeI34gdXc

The Lagos State High Court has convicted Victor Ogiemwonyi and his firm, Partnership Securities Limited, for stealing N953.5 million and $80,000.

The Economic and Financial Crimes Commission (EFCC) disclosed the ruling in a statement on its official X account on Thursday.

The court found that the defendants diverted proceeds from a share sale entrusted to them by an investor for personal gain.

The EFCC stated that Justice Modupe Nicole-Clay of the Lagos State High Court, Ikeja, convicted Ogiemwonyi and Partnership Securities Limited on two counts of stealing, contrary to the Criminal Law of Lagos State, 2011.

“Justice Modupe Nicole-Clay of the Lagos State High Court sitting in Ikeja, Lagos, on Wednesday, January 21, 2026, convicted one Victor Ogiemwonyi and his company, Partnership Securities Limited, for stealing the sum of N953,535,861.57 (Nine Hundred and Fifty-Three Million, Five Hundred and Thirty-Five Thousand, Eight Hundred and Sixty-One Naira, Fifty-Seven Kobo) and $80,000.00 (Eighty Thousand United States Dollars),” the statement read in part.

The Commission stated that the case arose from a petition filed in October 2016 by the nominal complainant, Arnold Onyekwere Ekpe, who alleged that he instructed the defendants to sell his 96,077,872 units of Ecobank Transnational Incorporated (ETI) shares.

The shares were sold for about N1.29 billion, but the defendants allegedly paid only N300 million to the complainant, while diverting the balance for personal use.

In a statement, the EFCC said Justice Nicole-Clay found that between June and September 2016, the defendants dishonestly converted N953,535,861.57 from the proceeds of the share sale, in addition to $80,000 in accrued dividends.

faoogoke:
The Lagos State High Court has convicted Victor Ogiemwonyi and his firm, Partnership Securities Limited, for stealing N953.5 million and $80,000.

The Economic and Financial Crimes Commission (EFCC) disclosed the ruling in a statement on its official X account on Thursday.

The court found that the defendants diverted proceeds from a share sale entrusted to them by an investor for personal gain.

The EFCC stated that Justice Modupe Nicole-Clay of the Lagos State High Court, Ikeja, convicted Ogiemwonyi and Partnership Securities Limited on two counts of stealing, contrary to the Criminal Law of Lagos State, 2011.

“Justice Modupe Nicole-Clay of the Lagos State High Court sitting in Ikeja, Lagos, on Wednesday, January 21, 2026, convicted one Victor Ogiemwonyi and his company, Partnership Securities Limited, for stealing the sum of N953,535,861.57 (Nine Hundred and Fifty-Three Million, Five Hundred and Thirty-Five Thousand, Eight Hundred and Sixty-One Naira, Fifty-Seven Kobo) and $80,000.00 (Eighty Thousand United States Dollars),” the statement read in part.

The Commission stated that the case arose from a petition filed in October 2016 by the nominal complainant, Arnold Onyekwere Ekpe, who alleged that he instructed the defendants to sell his 96,077,872 units of Ecobank Transnational Incorporated (ETI) shares.

The shares were sold for about N1.29 billion, but the defendants allegedly paid only N300 million to the complainant, while diverting the balance for personal use.

In a statement, the EFCC said Justice Nicole-Clay found that between June and September 2016, the defendants dishonestly converted N953,535,861.57 from the proceeds of the share sale, in addition to $80,000 in accrued dividends.

Wow!
N953m as far back as 2016 when dollar was around N200-N250.
Equivalent of about USD3.8m at the time,, now worth about N5.5b

I have been bottling mine since last week.

It's evident MC is having issues: technical, staffing or BOTH.

jp130:
Please who can reach Morgan capital group to process my deposit since morning at 9.03am. Bosedes even acknowledged my mail but up till now, the deposit has not reflect in my account for trading, I've called severally, either busy or not picked. WhatsApp: no response. Mailed ict officer, no response. Mailed info@morgancapitalgroup.com, no response . They should automate their deposit process to save customers from this unnecessary stress

Not about being pessimistic at all and I think we are more or less saying the same thing. It grew from 'circa 2' to the current price, and i am saying that buying or reccommending a buy TODAY following the current run carries more risk than when it was at 2.

yMcy56:
The ones you were pessimistic about last year, where were/are the share price as at today?
Falling knife all the way from circa N2?
People buy and sell for various reasons, and when you see momentum building around a stock, it could be for a reason...
We'll see whether it's falling knife or not...

iHaveMadeiT2:
This life no balance. This Chams was 20kobo about 4/5 years ago. Someone that packed 10 million units then at total cost of 2 million would have 50million today

I can remember it was one of those stocks mentioned by OGG then and as usual his recommendation was attacked by some folks. I bought 4m units @ 21k and sold @ 23k, the rest today they say is history . Lesson learned already, we moove

faoogoke:
The Lagos State High Court has convicted Victor Ogiemwonyi and his firm, Partnership Securities Limited, for stealing N953.5 million and $80,000.

The Economic and Financial Crimes Commission (EFCC) disclosed the ruling in a statement on its official X account on Thursday.

The court found that the defendants diverted proceeds from a share sale entrusted to them by an investor for personal gain.

The EFCC stated that Justice Modupe Nicole-Clay of the Lagos State High Court, Ikeja, convicted Ogiemwonyi and Partnership Securities Limited on two counts of stealing, contrary to the Criminal Law of Lagos State, 2011.

“Justice Modupe Nicole-Clay of the Lagos State High Court sitting in Ikeja, Lagos, on Wednesday, January 21, 2026, convicted one Victor Ogiemwonyi and his company, Partnership Securities Limited, for stealing the sum of N953,535,861.57 (Nine Hundred and Fifty-Three Million, Five Hundred and Thirty-Five Thousand, Eight Hundred and Sixty-One Naira, Fifty-Seven Kobo) and $80,000.00 (Eighty Thousand United States Dollars),” the statement read in part.

The Commission stated that the case arose from a petition filed in October 2016 by the nominal complainant, Arnold Onyekwere Ekpe, who alleged that he instructed the defendants to sell his 96,077,872 units of Ecobank Transnational Incorporated (ETI) shares.

The shares were sold for about N1.29 billion, but the defendants allegedly paid only N300 million to the complainant, while diverting the balance for personal use.

In a statement, the EFCC said Justice Nicole-Clay found that between June and September 2016, the defendants dishonestly converted N953,535,861.57 from the proceeds of the share sale, in addition to $80,000 in accrued dividends.

People get wetin pas liver for dis country Sha.

You sell person shares worth N1.3b, pay am N300m and diverted the remaining amount.

Oga Arnold, with your experience as a MD of various banks including UBA and ETI, I am too small to blame you o but Sha, you should have known that when you give people things to sell in Nigeria, the responsibility is yours to pursue Dem like dog wey dey pursue bone. Or else.....

Well, wetin my small pikin know, maybe guy man wants to take his own share of booty. And I know there were booties. Or perhaps,may be there is more to what is in the public domain.

Monibabakan:
I can remember it was one of those stocks mentioned by OGG then and as usual his recommendation was attacked by some folks. I bought 4m units @ 21k and sold @ 23k, the rest today they say is history . Lesson learned already, we moove

That is the market for you.

" If you have been dealing in shares without biting your fingers or have no regrets, you have not started".........NGX proverb.

Each day I see the daily market report these days, my heart bleeds for missing SCOA that is presently flying when I remember I was short of funds to buy it early this year.

Like you said, we movee.....

Abeg I want to one day be in the league of those who sell N1b and above worth of shares. How does one pursue brokers to get the proceeds of the sale back if they intend to steal the money?

ppogba:
People get wetin pas liver for dis country Sha.

You sell person shares worth N1.3b, pay am N300m and diverted the remaining amount.

Oga Arnold, with your experience as a MD of various banks including UBA and ETI, I am too small to blame you o but Sha, you should have known that when you give people things to sell in Nigeria, the responsibility is yours to pursue Dem like dog wey dey pursue bone. Or else.....

Well, wetin my small pikin know, maybe guy man wants to take his own share of booty. And I know there were booties. Or perhaps,may be there is more to what is in the public domain.

ppogba:
That is the market for you.

" If you have been dealing in shares without biting your fingers or have no regrets, you have not started".........NGX proverb.

Each day I see the daily market report these days, my heart bleeds for missing SCOA that is presently flying when I remember I was short of funds to buy it early this year.

Like you said, we movee.....

Apt!
In fact I am still biting my fingers because of Honeywell Flour and Deapcap after I bought some units and sold off prematurely.

Raider76:
Abeg I want to one day be in the league of those who sell N1b and above worth of shares. How does one pursue brokers to get the proceeds of the sale back if they intend to steal the money?

I guess they were friends. When my portfolio got to a certain level, I moved my stockbroking accounts to the subsidiaries of the 3 big banks at that time Premium Securities now FBN Securities a subsidiary of First Bank, Union Capital Market a subsidiary of Union Bank and UBA Stockbrokers now United Capital securities.

Ekpe as a former CEO of ETI should have known better. ETI used to have a stockbroking subsidiary at Victoria Island, I don't know why he did not have his account there

I think the stockbroker used the outstanding fund to take position in penny stocks that did not come out fine. Partnership was more of a Market Marker for some penny stocks at that time.


Used to enjoy the articles of this Stockbrokers about the capital, especially on trading and penny stocks

Raider76:
Abeg I want to one day be in the league of those who sell N1b and above worth of shares. How does one pursue brokers to get the proceeds of the sale back if they intend to steal the money?

First, deal with a firm with a bit of integrity.

Second, get someone to be your pally pally that you can call and talk to even in the middle of the night in the company. Once in a while, from your profit on sales, do give away like " money for your recharge card" etc. " Empty mouth no dey sound yanmu yanmu"...... African proverb.

Ensure all the control measures put in place by the regulatory authority are fully activated on your account and working well. Eg. CSCS alert etc.

Raise an immediate alarm if you perceive any wrong doing.

For the N1b threshold, get a good Dibia or Babalawo if you perceive their is a delay on your getting there.

Pay my consultant fee or else......

mikeapollo:
Apt!
In fact I am still biting my fingers because of Honeywell Flour and Deapcap after I bought some units and sold off prematurely.

Eeyah!

Monibabakan:
I can remember it was one of those stocks mentioned by OGG then and as usual his recommendation was attacked by some folks. I bought 4m units @ 21k and sold @ 23k, the rest today they say is history . Lesson learned already, we moove

The only person that consistently buys at the bottom and sells at the top is a lair.

If you have stayed in the market and not made silly moves, odds are your return would be close to what you think you missed

emmanuelewumi:
I guess they were friends. When my portfolio got to a certain level, I moved my stockbroking accounts to the subsidiaries of the 3 big banks at that time Premium Securities now FBN Securities a subsidiary of First Bank, Union Capital Market a subsidiary of Union Bank and UBA Stockbrokers now United Capital securities.

Ekpe as a former CEO of ETI should have known better. ETI used to have a stockbroking subsidiary at Victoria Island, I don't know why he did not have his account there

I think the stockbroker used the outstanding fund to take position in penny stocks that did not come out fine. Partnership was more of a Market Marker for some penny stocks at that time.


Used to enjoy the articles of this Stockbrokers about the capital, especially on trading and penny stocks

The former CEO was probably keeping his portfolio from the prying eyes of management and staff of ETI and the subsidiary stockbroking firm.

I think what you did by moving your portfolio to bank subsidiaries is a good idea.

mikeapollo:
Why are you scared of a falling knife?
A well experienced or trained guy should be able to catch a falling knife with no qualms! We did in sec sch. with fun

Jackie Chan wey dey catch arrow.. I greet you

[quote author=mikeapollo post=138235244]Similar to how Ikeja Hotels was selling below N1 (i.e. 0.70 -0.80k) at the time. It is now at N35
That is how NGX can easily make one a multimillionaire or billionaire.
[/qu
The question now is how can we discover the future IKEJA HOTEL and CHAMS of tomorrow today?

Problem is some of the bank subsidiaries have the worst customer service. But maybe if you have N1b they will treat you differently.

mikeapollo:
The former CEO was probably keeping his portfolio from the prying eyes of management and staff of ETI and the subsidiary stockbroking firm.

I think what you did by moving your portfolio to bank subsidiaries is a good idea.

zendi:
Awesome+J+8 = aj8.....
8 stands for the eight letters that make up awesomeJ.

AwesomeJ is aj8.

But there is no crime...

Alternate handles have been popular nsempa prank since the days of John the Baptist.

Your "conjuring" for this NSEMPA na highest

jp130:
Please who can reach Morgan capital group to process my deposit since morning at 9.03am. Bosedes even acknowledged my mail but up till now, the deposit has not reflect in my account for trading, I've called severally, either busy or not picked. WhatsApp: no response. Mailed ict officer, no response. Mailed info@morgancapitalgroup.com, no response . They should automate their deposit process to save customers from this unnecessary stress

..Why not look for better company to deal with if Morgan Capital is giving you issues?

zendi:
Awesome+J+8 = aj8.....
8 stands for the eight letters that make up awesomeJ.

AwesomeJ is aj8.

But there is no crime...

Alternate handles have been popular nsempa prank since the days of John the Baptist.

aj8 is Ajetumobi

Are this brokers good platform wise like are you able to login and easily buy and sell while seeing the market moves for the day?Also Union Capital Markets is now owned by a fintech-Trove. They sent me an email today.

emmanuelewumi:
I guess they were friends. When my portfolio got to a certain level, I moved my stockbroking accounts to the subsidiaries of the 3 big banks at that time Premium Securities now FBN Securities a subsidiary of First Bank, Union Capital Market a subsidiary of Union Bank and UBA Stockbrokers now United Capital securities.

Ekpe as a former CEO of ETI should have known better. ETI used to have a stockbroking subsidiary at Victoria Island, I don't know why he did not have his account there

I think the stockbroker used the outstanding fund to take position in penny stocks that did not come out fine. Partnership was more of a Market Marker for some penny stocks at that time.


Used to enjoy the articles of this Stockbrokers about the capital, especially on trading and penny stocks

Raider76:
Problem is some of the bank subsidiaries have the worst customer service. But maybe if you have N1b they will treat you differently.

Yeah... it is true
I guess United Capital should be up and doing

Very terrible service maybe except Ucap

mikeapollo:
Yeah... it is true
I guess United Capital should be up and doing

Monibabakan:
I can remember it was one of those stocks mentioned by OGG then and as usual his recommendation was attacked by some folks. I bought 4m units @ 21k and sold @ 23k, the rest today they say is history . Lesson learned already, we moove

Well .. look on the bright side... You made some profit

How many stocks on the ngx are even in kobo. With the rate of repricing in the ngx in few years we may not even have less than 3 naira stock. Except a serious bear hits.

[quote author=Valthegreat post=138236909][/quote]

mikeapollo:
Yeah... it is true
I guess United Capital should be up and doing

United Capital Securities is the best i've used. you can simply fund your account instantly in 5 seconds.

You can also get a margin loan if needed.

Raider76:
Abeg I want to one day be in the league of those who sell N1b and above worth of shares. How does one pursue brokers to get the proceeds of the sale back if they intend to steal the money?

Today, DCS is the simple official answer to this your question. Your sales proceeds settle directly into your bank account, neat.

MeezPat:
Are this brokers good platform wise like are you able to login and easily buy and sell while seeing the market moves for the day?Also Union Capital Markets is now owned by a fintech-Trove. They sent me an email today.

Talking of over 20 years ago

https://open.spotify.com/episode/7AhsYoFcrHOuQMcd1H6Xl2

A summary of today's trading session on the NGX

zendi:
Today, DCS is the simple official answer to this your question. Your sales proceeds settle directly into your bank account, neat.

Fixed👍

mikeapollo:
The former CEO was probably keeping his portfolio from the prying eyes of management and staff of ETI and the subsidiary stockbroking firm.

I think what you did by moving your portfolio to bank subsidiaries is a good idea.

I don't think so.

He can have special account that he is the only one that has access to it. It costs about N10,000 per annum.

You get in touch with any stockbroker of your choice whenever you want to sell