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Nigerian Stock Exchange Market Pick Alerts - Investment (125) - Nairaland

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Re: Nigerian Stock Exchange Market Pick Alerts by Audacius: 6:37pm On Sep 25, 2013
I had an account with Genesis, opened at their Cocoa House Ibadan office. Was alarmed when I heard they had problems but my stockbroker gave me some forms to sign to migrate my shares to his own firm.
Re: Nigerian Stock Exchange Market Pick Alerts by Audacius: 6:42pm On Sep 25, 2013
Michael11stock: ok thanks bro guess i just read it also, pls what are the procedure in migrating from one stockbroking firm to the other and which firm do you think is ok for now
While not really attempting to market them, my experience with ARM Securities has been good. All my transactions from inquiry to opening of account till date has been electronic. Never seen anyone from there in person-email phone calls. I had to open the account with 50k though.
Re: Nigerian Stock Exchange Market Pick Alerts by stockbull(m): 7:09pm On Sep 25, 2013
¥€$Wishing all happy investing¥€$
Re: Nigerian Stock Exchange Market Pick Alerts by otokx(m): 7:25pm On Sep 25, 2013
feelamong:

They have been suspended form all capital market activities..

When did this happen?
Re: Nigerian Stock Exchange Market Pick Alerts by SWG1: 10:13pm On Sep 25, 2013
otokx:

When did this happen?
.I tire for this market weh dey swing like pendulum. No bi to close eye shuk seed for a reliable fertile ground and come back in some months time during harvest. How una see am.
Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 6:14am On Sep 26, 2013
Plz this is stock mkt section
Re: Nigerian Stock Exchange Market Pick Alerts by kalan: 10:23am On Sep 26, 2013
mercylicious: Plz this is stock mkt section

As market nor move the guy dey suggest alternative investment cheesy
Re: Nigerian Stock Exchange Market Pick Alerts by amustsuccess(m): 11:12am On Sep 26, 2013
Hello my fellow investors, has anyone received their Transcorp dividend? Cause I'm yet to receive my e-dividend. What do I do?

Thanks
Re: Nigerian Stock Exchange Market Pick Alerts by stockbull(m): 11:56am On Sep 26, 2013
Access bank stake in wapic is now unbundled and this will increase the investors in wapic and some othe fundamentals relative to shareholders size while it will have slight negative effect on access's balance sheet.
******
new monies flow into the nigeria stock market is expected soon on the return of foreign investors.the saviour of banking stocks.watch out for fundamentals in this third quarter results.hopefully, the nse would be able to trade on the new platform next month to add flavour to all these.
Re: Nigerian Stock Exchange Market Pick Alerts by Born2beRich1(m): 12:45pm On Sep 26, 2013
expressdr84:
I ''ve not gotten my aiico dividend and I don't know ow to go about it.any advice for ur boy?


Hello Expressdr, sorry for the late response...pls did you fill the e-mandate form before the closure date to the resgistrar of aiico?
Re: Nigerian Stock Exchange Market Pick Alerts by Born2beRich1(m): 12:47pm On Sep 26, 2013
feelamong:

They have been suspended form all capital market activities..

Are you sure about this? this is serious..wetin cashcraft do
Re: Nigerian Stock Exchange Market Pick Alerts by bubbarealtor: 12:47pm On Sep 26, 2013
@Elai 147 what did you say those of us with accounts with cashcraft should watch out for again?
Re: Nigerian Stock Exchange Market Pick Alerts by bubbarealtor: 12:50pm On Sep 26, 2013
i do not believe that statement on Cashcraft jor unless i see a detailed report from nse
Re: Nigerian Stock Exchange Market Pick Alerts by Born2beRich1(m): 12:50pm On Sep 26, 2013
mercylicious: Plz this is stock mkt section

case reported
Re: Nigerian Stock Exchange Market Pick Alerts by Born2beRich1(m): 12:53pm On Sep 26, 2013
stockbull: Access bank stake in wapic is now unbundled and this will increase the investors in wapic and some othe fundamentals relative to shareholders size while it will have slight negative effect on access's balance sheet.
******
new monies flow into the nigeria stock market is expected soon on the return of foreign investors.the saviour of banking stocks.watch out for fundamentals in this third quarter results.hopefully, the nse would be able to trade on the new platform next month to add flavour to all these.



Meaning access bank has increased their share stake in wapic right? Thanks for the info
Re: Nigerian Stock Exchange Market Pick Alerts by Godsfavson: 12:55pm On Sep 26, 2013
otokx:

When did this happen?

please enlighten us "lay men" on what the implication(s) of this suspension to CASHCRAFT is/are. should we be worried and what was the cause of the suspension? can we still carry out our transactions? cry
Re: Nigerian Stock Exchange Market Pick Alerts by Michael11stock(m): 12:59pm On Sep 26, 2013
Audacius:
While not really attempting to market them, my experience with ARM Securities has been good. All my transactions from inquiry to opening of account till date has been electronic. Never seen anyone from there in person-email phone calls. I had to open the account with 50k though.
ok thanks bro, but since i already have 100k in my CSCS is there any need to deposit money with them again? And what type of document did u present to them so as to be able to trade with them?
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 2:22pm On Sep 26, 2013
Suspension of Cashcraft Asset Management Limited

Cashcraft Asset Management Limited, its Directors and Sponsored Individuals, are hereby suspended from all capital market activities.

The suspension is as a result of the company’s violation of Section 155 of the ISA 2007 in its management of Anchor and Bedrock Unit Trust Scheme.

The Operator contravened the provisions of the ISA as follows:
1.Co-mingling of Funds’ assets with its own
2.Violation of the Funds’ Trust Deed and Asset Allocation Policy
3.Failure to file the requisite returns to the Commission
4.Failure to maintain the relevant records/books for the Funds
5.Failure to facilitate the auditing of the Funds’ accounts and consequently hold an AGM

The Operator failed/refused to comply with the Commission’s directive to transfer the management of the Fund to another Fund Manager.

The company, its Directors and Sponsored Individuals shall remain suspended until they are cleared by the Commission.

Source: Proshare
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 2:29pm On Sep 26, 2013
bubba realtor: i do not believe that statement on Cashcraft jor unless i see a detailed report from nse

Hear it from the horse's mouth...


Cashcraft Suspension relates to delay in transfer of Fund to another Manager
We wish to advise that we have been suspended by our Regulators SEC, on account of our management of Anchor and Bedrock funds. This suspension does not have anything to do with fraud.

The investments are intact and in the hands of Stanbic IBTC, who are the custodians. BOI Trustees are the trustees to the funds.

No subscriber has reported any loss of his/her investment since inception.

The suspension came as a result of our delay in transferring the funds to another manager as directed by SEC, because at the launch of the two funds, we failed to separate the accts of the funds from our normal Cashcraft account.

We have long complied with ALL rules relating thereto.

This separation and other compliance issues have long been carried out by us. This notification has become necessary because of several calls we have received from our esteemed clients. The suspension should be lifted as soon as possible, God willing. Thank you.

Source: http://www.proshareng.com/news/21064.html
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 2:47pm On Sep 26, 2013
Godsfavson:

please enlighten us "lay men" on what the implication(s) of this suspension to CASHCRAFT is/are. should we be worried and what was the cause of the suspension? can we still carry out our transactions? cry

There is nothing to worry about. Your stocks are safe and with CSCS. I am sure the suspension will be lifted soon. But if the need to buy or sell your stocks arise, you may want to move your stocks to an active stockbroking firm. However, unofficially, Cashcraft can approach other stockbrokers to help carry out your buy and sell orders- but this is usually done for their big clients or for those who buy and sell regularly. You can contact Cashcraft to know if they can make such arrangement for you incase you need to buy and sell. If they cannot, and you need to do some active trading, then you can transfer your account to any other safe stockbroking firm.
Re: Nigerian Stock Exchange Market Pick Alerts by Michael11stock(m): 2:57pm On Sep 26, 2013
Elai147:

There is nothing to worry about. Your stocks are safe and with CSCS. I am sure the suspension will be lifted soon. But if the need to buy or sell your stocks arise, you may want to move your stocks to an active stockbroking firm. However, unofficially, Cashcraft can approach other stockbrokers to help carry out your buy and sell orders- but this is usually done for their big clients or for those who buy and sell regularly. You can contact Cashcraft to know if they can make such arrangement for you incase you need to buy and sell. If they cannot, and you need to do some active trading, then you can transfer your account to any other safe stockbroking firm.
do not panic they will resolve it soon cheers
Re: Nigerian Stock Exchange Market Pick Alerts by presiade(m): 3:00pm On Sep 26, 2013
@Oga Elai, hope GTI Securities Limited is not suspended too?
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 3:04pm On Sep 26, 2013
stockbull: Access bank stake in wapic is now unbundled and this will increase the investors in wapic and some othe fundamentals relative to shareholders size while it will have slight negative effect on access's balance sheet.
******
new monies flow into the nigeria stock market is expected soon on the return of foreign investors.the saviour of banking stocks.watch out for fundamentals in this third quarter results.hopefully, the nse would be able to trade on the new platform next month to add flavour to all these.

I heard their registrars will starts sending share certificates and credit investors CSCS account by tomorrow 27-09-2013 with the unbundled shares. I am waiting to see what happens tomorrow.
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 3:07pm On Sep 26, 2013
presiade: @Oga Elai, hope GTI Securities Limited is not suspended too?

Not sure they are... The list is on page 123 of this thread.

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Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 3:20pm On Sep 26, 2013
Michael11stock: ok thanks bro guess i just read it also, pls what are the procedure in migrating from one stockbroking firm to the other and which firm do you think is ok for now


INTER-MEMBER TRANSFER PROCESS/REQUIREMENTS

To transfer your shares from an in-active stock broking firm, you need to contact your target stockbrokers and ask them to carry out the transfer of these shares from the in-active firm to their custody. For the target stockbroker to be able carry out this transfer, you need to provide them with the following;
- Your current statement from CSCS (if you have CSCS online access, you can print your statement yourself)
- A copy of your ID card ( International passport, or Drivers license)
- Photocopy of evidence of share ownership such as- Receipt of share purchase, dividend warrant stub, or contract note)
- Bankers confirmation from your bank (the account must be in existence for 6 months and above alternatively, you can provide your target broking firm with your bank details and a passport photograph which would be forwarded to CSCS on a letter headed paper with the company seal affixed)

Note: Your target stock broking firm must initiate your request to CSCS on-line, process an indemnity and submit along with your KYC (know your client) document and the above listed physical document before your account can be transferred. So tell your target stockbroker to give you a KYC form to complete.
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 3:23pm On Sep 26, 2013
Ess: Unity bank and ABC transport have all taken a U turn.
This market needs extra vigilance!

Stockbull and the rest of the Ogas,
They say it is the planting season but I beg which seeds do we plant at this junction because the market seems to have its own take.

The bolded is seriously seconded.
Re: Nigerian Stock Exchange Market Pick Alerts by Audacius: 4:19pm On Sep 26, 2013
Michael11stock: ok thanks bro, but since i already have 100k in my CSCS is there any need to deposit money with them again? And what type of document did u present to them so as to be able to trade with them?
Elai's post answers you. Opening sum is always in cash or equivalent value. So, your cscs fund should be more than enough. Send an email to ARM to get their terms. I also began through: customerservice@armsecurities.com.ng www.armsecurities.com.ng
Re: Nigerian Stock Exchange Market Pick Alerts by Audacius: 4:30pm On Sep 26, 2013
Almost a useful consideration that Stockbroking firms be prayed for at morning prayers. grin Incase yours is hit, it could make you sweat blood. I can imagine the panic of Cashcraft customers. The typical Nigerian investor does not even know technical details or gives a damn when a negative financial news hits. Panic is the next thing. I think the Cashcraft case is not even about their stockbroking services but their mutual fund. Bedrock and Anchor seem more like mutual funds. Well, the investor gains at end of the day. They will sit up and like Africa Magic, all will live happily ever after. grin
Re: Nigerian Stock Exchange Market Pick Alerts by Audacius: 4:44pm On Sep 26, 2013
At this point, I think it proper to pay my tribute to EVERYONE here. E KU ILE O!!! I was a reader for quite a while before recently picking up an ID. Reading your posts was always a happy thing. I picked the name Audacius, as it sounds to me like a latin variant of the word: audacious. I think that is what you need to be in order to invest in the stock market. The concept of stock investment blew my mind from the first time I got to know about it. Trying to share it with people gained me a name and attention I didn't like. I have always kept mute about my sparse knowledge since then - and oh boy, did I read up a storm on this topic!. It is however good to see people with shared interest and with so much "mischievous" knowledge on being profitable in the market. Know you all do great jobs - from just asking questions or expressing fears to the Accurate DONS. God bless the community.
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 5:52pm On Sep 26, 2013
Re: Nigerian Stock Exchange Market Pick Alerts by Elai147: 6:07pm On Sep 26, 2013
Audacius: Almost a useful consideration that Stockbroking firms be prayed for at morning prayers. grin Incase yours is hit, it could make you sweat blood. I can imagine the panic of Cashcraft customers. The typical Nigerian investor does not even know technical details or gives a damn when a negative financial news hits. Panic is the next thing. I think the Cashcraft case is not even about their stockbroking services but their mutual fund. Bedrock and Anchor seem more like mutual funds. Well, the investor gains at end of the day. They will sit up and like Africa Magic, all will live happily ever after. grin

In fact, some stockbroking firms need fervent fasting and prayers especially the ones that sell investors shares without their consent. Even SEC needs a greater amount of prayers for making it possible for these stockbroking firms to sell investors shares without the appropriate mandate forms. In order not to be caught unawares, investors are forced to sleep with one eye opened. God bless the NSE!

Nice to have you on this thread @Audacius

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