₦airaland Forum

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Are you a portharcourt resident? Do you have bitcoin for sale? kindly PM.

Firstbank 50days @16%. Debited.

The Nigerian Stock Exchange (NSE) has marked out about 56 dealing-member firms as inactive, kick-starting the revocation of their licences and expulsion from the stock market.

The Nation had earlier reported exclusively the revocation and expulsion of 88 firms in the past five months.

The Nation’s check at the weekend indicated that nearly a quarter of of firms at the Exchange has been marked as inactive, a reference to dealing firms on the watch-list for delisting.

A breakdown of the status of dealing-member firms at the Exchange at the weekend showed that there were 197 active firms and 56 inactive. Already, a total of 163 firms have been expelled since capital market authorities began the weeding.

Under the Exchange rules, where a dealing member is inactive for six months, the Exchange shall revoke its licence.

“Under no circumstances shall a dealing member cease to carry out its day to day business activities for which it was licensed to operate without any reasonable cause,” according to the NSE’ rules.

A dealing member may be deemed inactive voluntarily and involuntarily. Voluntary if the firm has not recorded any trading without suspension by the Exchange or Stock exchange Commission (SEC). Involuntary inactivity occurs where the firm has been suspended by the NSE or SEC for infraction.

However, where a firm has been involuntarily inactive for six months, the Exchange can determine whether to revoke the firm’s dealing licence.

“Where the Exchange revokes a dealing member’s licence, the Exchange shall immediately commence the process of expelling such dealing member,” the rules stipulated.

Also, under the rules, suspension of any stockbroking firm by SEC will lead to immediate suspension by the NSE while revocation of any broker’s registration will lead to expulsion of the firm by the NSE.

“Without prejudice to all the remedies open to the dealing member, where a dealing member is suspended by the Commission, as soon as the Exchange is notified, it shall immediately commence the process of suspension or expulsion of the dealing member.

“Where a Dealing Member’s registration is revoked by the Commission, as soon as the Exchange is notified, it shall immediately commence the process of expulsion of the dealing member,” the rules stated.

The firms marked out as inactive included Adamawa Securities Limited, Aims Asset Management Limited, Arian Capital Management Limited, Bestlink Investment Limited, Bytofel Securities and Investment Limited, Cadington Securities Limited, CEB Securities Limited, Clearview Investments Company Limited, Covenant Securities and Asset Management Limited, Cradle Trust Finance and Securities Limited, ECL Asset Management Limited, Excel Securities Limited, Finbank Securities and Assets Management Limited, Gem Assets Management Limited, GMT Securities and Asset Mangement Limited, Gombe Securities Limited, Horizon Stockbrokers Limited, International Standard Securities Limited, Investment Shark and Asset Mgt Ltd, ITIS Securities Limited, Kakawa Asset Management Limited, LB Securities Limited, Lion Stockbrokers Limited, LMB Stockbrokers Limited, Mact Securities Limited, Mainland Trust Limited, Marimpex Finance and Investment Company Limited, Maven Asset Management Limited, Mercov Securities Limited, Midpoint Capital Limited, ML Securities Limited, Monument Sec and Finance Limited, Mutual Alliance Investment and Securities Limited and Northbridge Investment and Trust Limited.

Others were Options Securities Limited, Partnership Securities Limited, Perfecta Investment and Trust Limited, PML Securities Company Limited, Professional Stockbrokers Limited, Profund Securities Limited, Redasel Investments Limited, Resano Securities Limited, Resort Securities and Trust Limited, Shalom Investment and Financial Services Limited, Stanwal Securities Limited, Summa Guaranty and Trust Company Limited, Supra Commercial Trust Company Limited, Surport Services Limited, Tower Asset Management Limited, Transafrica Financial Services Limited, and UIDC Securities Limited.

http://thenationonlineng.net/stock-exchange-may-expel-56-inactive-firms/

segzy3:
Disengaged + pensioners are both involved. The payout was calculated late last year at the accountant generals office@toast

Its all good. Thanks for the update

segzy3:
Finally3x!nitel representatives were told lastweek to write a proposal for verification which has been done and were told to comeback last week Friday.I'm happy to tell u. Letter of approval for payment was collected on Friday by alita aliyu.the sum of 299 billion has been earmarked for payment of pension to all "parastatals".the core civil servant is not included in the money and the good news is that it is not connected with 2017 budget, also a meeting will hold in abuja tomorrow on date of verification.

pls i need your clarification on the issue of "pension payment", does it also include disengaged staff (diseased and living) who have never received any pension so far OR only for pensioners?

femi4:
97970074

worked with the speed of light.
I appreciate man

femi4:
mail addy

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imei: 868989020401183
s/n: s8y7s15c15004707
Thanks

agoro2u:
I just left FBN One branch in Port Harcourt now, the lady I met, Stephanie (or something sound like that) told me that she don't know the interest rate on Tbill & the auction both Secondary & primary is not on sale cos the did 1 last week.
I told her that I heard that 1 will be out today but she said no. she was trying to push me to fixed deposit which I resist.

is it that she is not experience abt Tbill or she is using market strategy for me cos she makes me confused

kindly disregard her info. some bankers dont know about TB, few that know will want to push you to fixed deposit.
I did mine in portharcourt too. kindly go to firstbank before airforce base, walk into their bulk room and ask of the guy incharge of TB. Cheers

toast224:
I was offered 17% for 72days at firstbank and i have been debited. Awaiting my interest to really know if the guy was correct on the 17% he mentioned.

My upfront interest has just been credited by firstbank and by my calculation, 17.5% for 72days. secondary market is making sense.

I was offered 17% for 72days at firstbank and i have been debited. Awaiting my interest to really know if the guy was correct on the 17% he mentioned.

brosiye99:
Hello people. Don't despair. The issue of Nitel pension will soon be settled. It has been included in 2017 budget. The Minister of State for budget and planning(herself a former nitel staff) confirmed this news. What was included is only one year pension. this means other previous outstanding years were not added because the amount is huge. Once budget is passed, they will call for pensioner verification and the payments will start through PTAD. So if budget is passed and signed by possibly april and verification starts immediately, then by June all verified pensioners will start to receive monthly payments. They may pay 6 months up till June. For real, this year Nitel pensioners will smile.

Any info on 2006 disengaged staff?

obindomanya:
VERY CREDIBLE

Is it for pensioners only?
Any news about the disengaged staff of 2006?

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debbydee:
13.89

Thanks. firstbank bidded on your behalf or you gave in your own rate?

debbydee:
Good day all.

I use first bank for my bidding. 600k for 91 days and it was successful.

Make i go party small.

pls whats firstbank's rate?

obindomanya:
The Identification cards of would be pensioners is official ready in NITEL south west zone(precisely Benin). verification of would be pensioners settled! payment in arrears since 2006 next. Thanks Buhari for this miracle/policy.

pls whats the source of this info?
Do you have any information concerning 2006 disengaged staff and deceased staff?

pls is the awaited payment for pensioners or disengaged staff starting from 2006, dead and alive?

Pls which is the main group between this and
https://www.nairaland.com/2924104/nysc-2016-batch-corp-member
Any whatsapp group yet?

O yes! Rivers straight up

From Kaduna to RIVERS STREAM I

mekaboy:
Chai, I missed out, by the time I found out the bidding was today, first bank said they have stopped collecting bids.

I would have failed sha, planned to bid for 8%. but as soon as the budget is signed the 91 days will be up to 10%.

I will just do 30days fixed deposit with gtb and wait.

Pls what's the fixed deposit rate of gtb?

Good day house. I am new here and i need some clarifications as regards treasury bills. I want to pull my funds from fixed deposit to TB, is the TB rates higher than the normal fixed deposit and is there a definite auction date like everymonth, every fortnight for TB. I use firstbank.
Thanks

HisMajesty1:
Yes I heard so too. That is for disengaged staffs. They said this settlement will be between the liquidator and the Badejo- led union. Whichever way, I just want to know when the verification will start.

Alright. Lets hope for the best.

HisMajesty1:
Please o, any information on the proposed verification timetable. Its supposed to be out by now going by previous information we heard. Anybody with information should please let us know.

Greetings. Pls i heard the verification exercises going on in zones like enugu and lagos are being carried out by union members and not the BPE or the federal government.
Whats your take on this?

E be lyk sey pple that got good states are shouting its authentic and peeps that got bad choices are clamouring for a total change. Chaiii