₦airaland Forum

@lastpage

I really share your concern about the state of development in some of the Estates and "what'sgwan" behind those high fences and gatehouses. However, some of the developers are distinguishing themselves and I must salute PropertyMart in this respect.

They are the developer of Palms Garden Estate and Mainland Estate (both in Mowe/Ofada) among others. Don't get me wrong - i am not an agent but one of the members of the concerned public who went for inspection in July 2010 on the bills of PropertyMart alongside dozens of other prospectives buyers. Attached are some of the pictures I snapped with my mobile phone - i actually took those pictures back home to convince my wife on the need to buy a land in Mowe/Ofada.

@larryshow4
Can you help me get a nice portable car with four doors suitable for women and price (landing cost) of between N500k -N600k. It has to be clean and preferably automatic gear. Kindly send pics to xolayiwola@yahoo.co.uk

Just want to know your opinion about the fraudulent and unethical  "share reconstruction" carried out by Sterling Bank Plc. Is our capital market that bad that a quoted company will carry out a share reconstruction that leave the shareholders worse-off.

To make the matter worse, the NSE concurred with Sterling Registrar on the matter and abondon their Duty of Care to protect the interest of investors. How can someone like myself, that bought into Sterling Bank on the secondary market of the stock exchange (in "good faith" and in a "market overt"), be asked to accept 10 units of shares for every 19 units that I previously held in the bank (about half of my holding disappeared from my cscs statement).

To add insult upon injury, the price was marked down below the suspension price i.e. N6.65 reduced to N5.62. The issue is that Sterling bank did not summon any extraordinary general meeting (EGM) to notify us about the development. Neither did they call any Court Ordered Meeting for such a decimating capital reconstruction. The MD and the Chairman of the company lied to us at the last AGM that they were the first bank, post-consolidation, to have written off their goodwill in full, hence, the reason for not paying any dividend in this financial year.

Someone has to pay for this, I even think those directors of the banks involved in the merger and consolidation fraud, as alleged, should be languishing in jail by now. I trust the US. government on matters like this. We've got to do something about this otherwise it becomes a precedence in Nigeria.