₦airaland Forum

that smells like market rigging to me! 1% down movt 5% up movt. But the question is:WHY HAVE ANY LIMIT AT ALL? this is just turning the market to a joke! Protecting same rogues who have been fleecing the "average investor" (read idiots who put money in vehicles they dont know anything about)

As part of the interim measures, effective from Wednesday, the NSE will take the following steps:


1. The NSE will reduce its fees by 50 per cent.

2. New listings on the Nigerian Stock Exchange is hereby suspended until the market stabilises.

3. One per cent maximum downward limit on daily price movement whilst the current five per cent limit on upward movement is retained.

4. The SEC will release guidelines for market makers on the Nigerian Stock Exchange before the end of the week.

5. The NSE has begun steps to review its trading rules and regulations.


OTHER KEY DECISIONS:

6. Henceforth, there will be strict enforcement of NSE’s listing requirements with zero tolerance for infractions. The SEC and NSE will also take administrative actions to stem the rate of new listings until the market stabilises.

7. Having gone through the steps for delisting, the stock exchange will delist all the moribund companies earlier advertised.

8. The modalities for the establishment of a Capital Market Stabilisation Fund are being worked out to intervene promptly, effectively and prudently in the Nigerian stock market as the need arises.

9. The Office of the Attorney-General of the Federation has been directed to issue an exemption to the provisions of the relevant sections of the Companies and Allied Matters Act, 1990, on share buy-backs to permit quoted companies to buy back up to 20 per cent of their shares. SEC’s approval would, however, be necessary before any quoted company is allowed to undertake any share buy-back.

10. The PAT will continue to meet regularly to articulate and implement medium to long term measures that are necessary for the healthy growth and development of the capital market.

Members of the PAT include the ministers of Finance, Justice and National Planning; the Chief Economic Adviser to the President, the Governor of the Central Bank of Nigeria and mogul Alhaji Aliko Dangote.

Others are the directors-general of the Securities and Exchange Commission, the NSE and the Debt Management Office, as well as the managing-directors of Union Bank, Access Bank and Intercontinental Bank.

Also on the team are Mr. Bolaji Balogun, Mr. Ebilate Mac-Yoroki, Mr. Kayode Falowo and Mr. Oladipo Aina.


IS THIS MARKET RIGGING OR GOOD GOVERNANCE? METHINKS ITS MARKET RIGGING WHAT DO YOU THINK GUYS?

Ma broda Webdezzi u no lai at all dis visafone dey trek. So where do i run to now? is it MTN? from wat ive seen on this forum its not bad. Am confused jare!I noticed no body mentioned Glo. That in itself is a statement!Big disappointment, all they do is make noise and launch jibiti promos!

politician

Love this thread

All those chaps mentioning hummer and the like obviously dont live in 9ja dat car would cost an arm, a leg and 2 eyeballs! VW cars are good, ground clearance rugged, etc but the japs beat them for mtce costs. Gimme a corolla anyday (not an a green cowrolla o!) or a 4runner, highlander. Am planning to fling my Audi and get a corolla. The car is MADE 4 9JA! period! Shd have been named okor rola!

ma brodas!
who will save us from dis pple hands o! Ive used multilinks, starcomms now am on visafone this their EVDO (EVen Though we promised high speed DOnt bet on it) is fraud. If I had money i would invest in real broadband. The market is crying to be served. What a country!

Wamby u are da man! it seems some forumites don't read other posts! Always in a hurry to be heard I will repeat what i posted earlier

EFCC INVITED HER TO EXPLAIN HERSELF BASED ON A PETITION FILED BY LAGOS BASED LAWYER FESTUS KEYAMO. EFCC IS BOUND BY LAW TO LOOK INTO PETITIONS WHETHER THERE IS ANY SUBSTANCE!

JESUS!

@XYOUN
AM A NAIJA MAN! 100% AND WITH NO APOLOGIES

Candy, EFCC arrested her based on a PETITION filed by a Lagos lawyer, that was the basis for her "invitation" EFCC this not just move on their own. Their action is perfectly legal and in order. They are bound by law to look into any and all petitions to see if there is substance.

Please lets get full info before we launch our missiles

@ carmelily

girl feel u! enuf suffering and poverty. rather than using her office to help pple she embarked on attention seeking venture there must be some fraud involved we just dont see it from where we stand

NOW HEAR THIS!

Onyuike Claims the fundraiser was not aimed at funding Obama's campaign but to "raise awareness" ? Look lets stop this typical Nigerian culture of blowing up dust and diverting attention from core issues. The question is simple: WHAT ARE THOSE FUNDS MEANT FOR? If US law forbids foreign donations (even Americans are limited to $2,300, the woman raised $1million!) what "awareness" does she want to raise? for who? will africans vote in the election? can she raise more awareness than what Obama's superb campaign and the US media are doing?

The woman is just a 419er. She has been mis-behaving for a loong time and she gets too involved in politics considering her sensitive position. Like it or not the woman is corrupt and this time Festus Keyamo did us all a favour by writing a petition to EFCC. Meanwhile lets not forget that Obama has already disowned her and her dubious organisation. Lets stop this habit of supporting wrong based on tribe, religion or any other rubbish! WHAT IS WRONG IS WRONG JARE. Pls excuse my language.

I will not criticize anybody for saying Arg will win. They are the top team but I think some Nigeria people are too eager to write off our team. I believe the reason is simple- they are cowards and weaklings who prefer to to take the easy way out-throw in the towel rather than daring to hope. Imagine if Obama was one of these people he would never contest the presidency, he would give himself a jillion reasons why he would fail! He did not and this helps us understand the title of his book-THE AUDACITY OF HOPE. Nigerians this pessimism is also plaguing us in other areas of life for me i say I WILL DARE TO HOPE!ITS NOT JUST PATRIOTISM, ITS AUDACITY! ITS BRAVE! Sorry for the long post.

Abeg a good samaritan shd also post scores for us o! am in a seminar so i can only follow on line.

lets be calm pls there is too much confido on this forum, i hope dream team dont eel the same way cos belgium may shock us. Remember they did not get to the semis by lucky dip. they beat credible teams on the way so lets be quietly optimistic and not arrogant. At least i see siasia has the right attitude- see kickoffnigeria.com to see what i mean.

Guys have u noticed something? All the gals are predicting a win for CIV. Its either they like the Ivoriens ( is it the color of their jersey?) OR they are not getting attention from their guys because of the football so they want Nigeria out so their guys will give them attention!

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Reply

This is to inform all CFA candidates that our company NUMERATE SOLUTIONS LTD has commenced tuition for the December 2008 CFA exams (Level1)
Our faculty consists of experienced hands with thorough and up to date knowledge of the study areas.

Our address is : NUMERATE SOLUTIONS LTD, 27/29 IKORODU RD TOTAL BUS STOP AT FADEYI. RIGHT HAND SIDE COMING FROM MARYLAND-ANTHONY (GREEN 3 STORY BUILDING) LECTURES STARTED LAST WEEK! So you can hurry and still join up!

We shall also assist candidates with travel arrangements to the Dubai UAE center.( visa,hotel reservations, airport pick up, transport to and from exam center and back to airport on your departure day!) Our fees are affordable with convenient payment plan.

For further details and enquiries pls call Okey on 0803-381-2878 and Seyi on 0802-810-9210
or email us at :numeratesolutionsltd@gmail.com

We look forward to hearing from you!We are commited to increasing the number of Charter holders in Nigeria!