FatherOF2:

ha na wa, oceanic is not going right again. which kind tin be this. 1% is just a whole new ball game.

When you announced your proposed adventure with Oceanic I really thought you had become a long termer.

@All
Anyone know what the driving force behind the demand for Dunlop is?
Isn't this the same company that the media was reporting it's death throes?

SEC issues new rules on share buy-back


Slashes fees

Raises panels to review corporate governance

By Gbenga Agbana and Mathias Okwe
FRESH initiatives to reposition the waning Nigerian Capital Market were yesterday adopted by the Securities and Exchange Commission (SEC), the apex-regulating agency of the market in Nigeria.

The initiatives, coming on the heels of recent similar action by the Nigerian Stock Exchange (NSE), include the slashing of fees charged by SEC for investment in the market by 50 per cent, the release of new rules on share buy - back and the setting up of two new committees on the review of the code of corporate governance for public companies and the review of capital market structure and processes.

The fees slash by SEC would mean more value for investors who, before now, were charged about five per cent of the value of their investment by SEC whether they are buying or selling. Now, they would have to pay half of that, which is two and half per cent. The move is aimed at encouraging activities in the market by investors.

Also under the new regime of incentives, SEC has reviewed the rules relating to shares buy-back (acquisition of own shares by companies) to allow firms to buy back up to 15 per cent of their existing issued and paid - up equity capital in any given financial year, while market markers shall now be eligible to operate in the market only after fulfilling the condition of a minimum paid - up capital of N2 billion including liquid assets at all times to cover its current indebtedness.

The Chairman of the SEC Board, Senator Udo Udoma Udo, who announced the new incentives while performing the inauguration of the two committee members in Abuja yesterday, said the initiatives were in line with the Federal Government's action in stabilising the Nigerian Capital Market as was outlined by the stakeholders' meeting last August 26 with the Vice President, Dr. Goodluck Jonathan at the Aso Villa.

Senator Udoma said: " It would be recalled that on Tuesday, August 26, at a meeting the Vice President held with stakeholders towards stabilising the Nigerian Capital Market, a number of recommendations were made. Some of the recommendations were to be implemented by the Central Bank of Nigeria (CBN); some by the NSE and some by SEC."

According to him, SEC was required to give consideration to "the reduction of its fees by 50 per cent; issuing rules for share buy - back by quoted companies and issuing guidelines for the operation of market markers."

"Immediately after the meeting, the management of SEC was directed to begin extensive consultations for the purpose of bringing forward proposals for the consideration of the board at its next scheduled meeting for Thursday, September 11, 2008. Notwithstanding the extremely tight schedule given management for these consultations, they were given and were able to present proposals on all the three issues for the consideration of the Board.

"At this meeting therefore, the board was able to consider and approve proposals for the following: immediate across-board reduction of all SEC fees by 50 per cent; rules for share buy-back by quoted companies in accordance with the Law as set out in the Companies and Allied Matters act and Operational guidelines for the registration of market markers.

"These new rules have since been approved by the Hon. Minister of Finance and the Director-General of SEC will be releasing them today (yesterday) and there are with immediate effect, Senator Udoma stressed.

He pledged the SEC board's commitment to checking market abuse and improving the efficiency of the capital market processes as well as the quality of the products.

As a first step of realising this vision, he disclosed that the board was retaining consultants to do a complete diagnostics of SEC to identify the Commission's weaknesses in order to strengthen and fortify its institution capacity.

He also explained that the setting up of the two Review committees on the market was in line with the objective as they would identify weaknesses in and constraints to good corporate governance in public companies in Nigeria and review the capital market structure and processes so as to make recommendations to SEC for measures that can be taken to improve its operational efficiency, international profile and transparency.

The Technical Committee on Corporate Governance is headed by a lawyer, Mr. A.B Mahmoud (SAN), while that on review of Capital Market Structure and Processes is headed by an accountant, Mr. Dotun Sulaiman.

The two committees have eight weeks to submit their reports and they are among other things, to examine in the light of recent experiences the quality of corporate governance; identify weaknesses and constraints to good corporate governance in public companies and recommend ways of effecting greater compliance by them.

They are to also identify the strengths, weaknesses, opportunities and challenges of the Nigerian Capital Market with a view to positioning it to meet immediate and future developmental aspirations in Nigeria and review the current market structure and processes as well as the regulatory and institutional framework and make recommendations for the improvement of the operational efficiency and transparency of the market, including any suggested amendments of existing legislation.

@fatherof 2,
where art thou?

my name is Wasiu .i am a stock broker i work in CapitalTrust brokers.my mail address is lumideayo@yahoo.com mail meif u want any information regarding stocks and how to invest.and also we can be your stock broker

husu:

@fatherof 2,
where art thou?

Thou is hia oh. Watching.

for TRW STOCKBROKERS PRICE LIST, USE THIS LINK, http://www.trw-stockbrokers.com/nsetoday.aspx

i have been looking for this place, was it frozen?

Ipso-facto,

Taqueant colloquia effugiat risus hic locus est ubi mors qaudet succerre vitae.

Most businessess happens to be in the laps of the gods, foreign investors in the nigeria stock exchange market have withdrawn their green backs, Soludo is clamping hard on banks over foreign exchange deals,. the bubble is about to fully burst, watch your money

www.101creativitytosucess..com

Ipso-facto,

Taqueant colloquia effugiat risus hic locus est ubi mors qaudet succerre vitae.

Most businessess happens to be in the laps of the gods, foreign investors in the nigeria stock exchange market have withdrawn their green backs, Soludo is clamping hard on banks over foreign exchange deals,. the bubble is about to fully burst, watch your money

www.101creativitytosucess..com

If you have a million naira to invest today, would you buy shares, or would you put in fixed deposit account? Or put it under your pillow

naijaking1:

If you have a million naira to invest today, would you buy shares, or would you put in fixed deposit account? Or put it under your pillow

Fixed deposit in banks are lazy minded men way of investment, banks ain't so safe anymore no matter what banks are saying.

To secure your one million naira, look around for cheap land, that sells from 250-500k per plot and sit on it. you have better collateral than share which banks are rejecting. bank's failures and stock market price fluctuation, or crash, DO NOT AFFECT LAND PROPERTY.

The stock exchange markets all over the world are houses built by greed

publicview:

Fixed deposit in banks are lazy minded men way of investment, banks ain't so safe anymore no matter what banks are saying.

To secure your one million naira, look around for cheap land, that sells from 250-500k per plot and sit on it. you have better collateral than share which banks are rejecting. bank's failures and stock market price fluctuation, or crash, DO NOT AFFECT LAND PROPERTY.

The stock exchange markets all over the world are houses built by greed

That one has its own risks
1. If you are the first to buy the land, the same land may be sold to someone else (behind your back) and you both end up in court dragging the land.
2. The land may have been sold to someone before you bought it.
3. A new government can come and claim the land.
4. The landlord that sold the land can refund your money when he sees a higher bidder.
5. The land can still be taken over by the community/family that owns the lands if there was family dispute before it was sold.

All this can happen even if you build a structure on the land.

Investing in Land is still better than the stock market. I have relatives who bought lands like 2-3 years ago and nothing has happened to them all these while. all you need do is go through the right channel and you won't have dispute.

honeric01:

Investing in Land is still better than the stock market. I have relatives who bought lands like 2-3 years ago and nothing has happened to them all these while. all you need do is go through the right channel and you won't have dispute.

Am right at your side, some companies shares that are bought in the sixties, and seventies, where are they? a piece of land bought along Ikorodu road at same time, with same price what is the worth?, estate investment is the primary investment for any sensible person.

Hello

Something incredible has arrived!

I just became a shareholder in me2everyone and I never had to pay a single penny for the shares! It can only be described as the gold-rush for 2009. This company is going to be huge and shares will soar in value over the coming months! You can register for free and it never has to cost you a single penny!

Membership is free and every member automatically becomes a shareholder in me2everyone Limited. Personally I have 1000 shares in the venture I'm going to increase my shares very soon. This is an excellent chance for all of us to make some real progress in 2009 and beyond! Please don't miss it.

If you are looking for something really good in 2009: something that changes your view on the world, then you really have to spend just one minute and look at this website.

Please click visit www.me2everyone.com/194747 for the details

manifest1:

Hello

Something incredible has arrived!

I just became a shareholder in me2everyone and I never had to pay a single penny for the shares! It can only be described as the gold-rush for 2009. This company is going to be huge and shares will soar in value over the coming months! You can register for free and it never has to cost you a single penny!

Membership is free and every member automatically becomes a shareholder in me2everyone Limited. Personally I have 1000 shares in the venture I'm going to increase my shares very soon. This is an excellent chance for all of us to make some real progress in 2009 and beyond! Please don't miss it.

If you are looking for something really good in 2009: something that changes your view on the world, then you really have to spend just one minute and look at this website.

Please click visit www.me2everyone.com/194747 for the details

Na wao oo,see wetin NSE crash dey cause

If you have a million naira to invest today, would you buy shares, or would you put in fixed deposit account? Or put it under your pillow  

My goodness.  If I  have that amount now, I will confidently go into the stock market.

The problem with most people is that they always want to hear that somebody is making it in so so and so biz before they would invest. They forgot that the man that is making it has already made it and they can't make that again. If you wait to hear that somebody is making it in the stockmarket before you go in, you will only be helping the man that is already making it to make more because by the time you enter, you will make his shares to further appreciate while you will be starting from the base of the ladder.

You have forgotten that you make money through bonus and dividends as well. You people only focus on capital appreciation that is why there is general aparthy.

So, if you have money, just go and get your shares now .

The stock market is for only the brave in heart now

The time to start buying is probably close.

Investment is not gambling, the problem with majority of investor in the capita our capital market is that they always follow the bandwagon without analysing the fundamentals that supports the stock they are buying. some people also put their trust in their broker, so anything their brokers pick for them is the best,
There is need to be inform about the market for an investor that want to make if big from the stock market, so that you will be able to know when to buy and when not to buy. As the market is today, some investors are still making big money but you just need to be knowledgeable about investing before jumping into the market.

Be greedy when others are fearful, and fearful when others are greedy.

Everybody is scared now, so go in now if you want to make it in the stockmarket.

@jamace

so which stock do you recommend?

jamace:

Be greedy when others are fearful, and fearful when others are greedy.

Everybody is scared now, so go in now if you want to make it in the stockmarket.

Just be sure the money you put there is not going to be needed in next two years at least and not borrowed with interest. The market is still full of surprises. Only those who know deep can call deep for now, if you understand what I mean.

@jamace

so which stock do you recommend?

I will personally consider the following stocks:

Banks: Most of them are good.

Construction: J berger and Costain.
Food and beverages: Most of them are ok.
Insurance: Mbenefit, AIICO, NEM, Cornerstone, Crusader and a few others.
Mortgage: All ok.
Petroleum: All.
Information and media: Starcomm and DAARCOM

Well, note that these are my personal choices based on my stockmarket psychology. Yours could be different. On the whole, I will advice any one with money to go in now, but at their own risk. Thanks.

Seun:

The time to start buying is probably close.

You think so?

otokx:

@jamace

so which stock do you recommend?

Try Nestle foods, First bank is also nice, they're at the moment issueing a scrip of one share to four ordinary shares (Ratio 1:4).

jamace:

I will personally consider the following stocks:

Banks: Most of them are good.

Construction: J berger and Costain.
Food and beverages: Most of them are ok.
Insurance: Mbenefit, AIICO, NEM, Cornerstone, Crusader and a few others.
Mortgage: All ok.
Petroleum: All.
Information and media: Starcomm and DAARCOM

Well, note that these are my personal choices based on my stockmarket psychology.

Your psychology eh
On what are you basing your recommendation of the above-highlighted?

jamace:

Be greedy when others are fearful, and fearful when others are greedy.

I always grin when people just decide to quote Warren Buffet.Has he told you how much he has lost so far?
The guy is not infallible you know.Do you know how much GE has depreciated since Warren snak 3.5 billion USD into it at the onset of the Wall Street crash(when others were fearful and warren decided to be greedy)

You got to believe in the stock market before you can put your next bucks in there.

There are still some good stocks not over-priced at the mo.

GTB - strongly recommended
Oceanic - strongly recommended
Zenith - strongly recommended
Dangsugar - strongly recommended
NB plc - strongly recommended
Guiness - strongly recommended

As someone rightly said, investment is not about immediate returns as most of think.

Just set aside funds you don't need for at least the next 18months and just cross your fingers while it yield returns.

Its still the best time to invest, all we need is to BELIEVE IN THE MARKET AGAIN and not to expect overnight returns.

baduks:


There are still some good stocks not over-priced at the mo.

GTB - strongly recommended
Oceanic - strongly recommended
Zenith - strongly recommended
Dangsugar - strongly recommended
NB plc - strongly recommended
Guiness - strongly recommended

could you pls share some info backing your recommendation. thank you in advance.

I always grin when people just decide to quote Warren Buffet.Has he told you how much he has lost so far?
The guy is not infallible you know.Do you know how much GE has depreciated since Warren snak 3.5 billion USD into it at the onset of the Wall Street crash(when others were fearful and warren decided to be greedy)

Investment is not for those who can not withstand a litle dip in their investment, that is why I talked about psychology. As an investor, you must be ready to accept losses while keeping your eyes on the gains. You must also have flexible plans so that if your immediate target is not met, you can either accept the loss by selling off and moving on or you can hold for long term. That is why it is advised that you should invest only money that you do not require immediately.

What you think Warren Buffet has lost, is not yet lost until he sells off the shares at present rate. And so it is with all investors in the stockmarket. It is only book loss.

@nich

what about tantalizers and iei?

Hi, Everyone, it is good to know that more Nigerians are beginning to show interest in the capital market. It is a good and welcomed development.

With the current meltdown in the capital market, I will advise prospective investors to seek their Stockbrokers advice in purchasing stocks that will be profitable for them in future, though the market is buyers market for now owing to price depreciation of stocks. I wish to state that this is the best time to buy stocks on long term basis. Most of the blue chip companies are being sold at rockbottom prices and investors are really taking position to invest.

Initially, those days people invest in company shares to earn bonus and dividends, also know that the volume of bonus and dividend you receive depend on the volume of shares you have with the company. But owing to price appreciation a lot of people invested on short term and dispose off which affected the market liquidity. Lack of implementtaion of budget last year also contributed together with the Niger delta crisis which led to foreign investors selling off their stocks and return to their country all these factors affected the market liquidity.


Though there are merceneries in place to restore investors confidence. This is slashing down of Stockbrokers commission and introduction of share buy back by the NSE. I am of the opinion that the market will bounce back before the end of this year.


Remember that Oceanic and Uba are being sold below N10 naira these are stocks that worth over 48 and 65 naira respectively last year. Investing in any of them will surely yield a very high income.


FOR FURTHER INFORMATION PLEASE CONTACT

MR. BEN
08022119978
Mission Securities Limited
152/156, Broad Street,
Lagos.
www.missionsecuritiesltd.com