@ ALL, Happy new prosperous year.

For those that could not resist POs/IPOs, here is the link for the First Inland bank prospectus.
Click on subscribe now to get to the form and prospectus.
[url=http://firstinlandbankplc.net/offer/offer.asp[url=http://]]][/url]http://firstinlandbankplc.net/offer/offer.asp[url][/url]

jesu seun:

PLS ,guys i need advice,i just learnt that the year end for cleasing is january,and i have place a sale mandate last friday to buy equity insurance.should i stop the mandate or proceed with the transaction. or do any have an idea of when cleasing register will be closing and the dividends and bonus they declare last year.


please help,heed your advice urgently fast before monday morning.

Compliments of the Season and Happy new prosperous year to everyone on this thread.

@Jesu seun,
CI Leasing year end is January - yes, the end of year audited result will not be ready/published till 4 months later (according to the NSE laws) but history says the results are released in June. So we need to look at six months from now before the Year end results can be known in public domain (except one is an insider). It is after the results have been computed then anouncement of Register closure and dividend payment dates are made at the AGM. Effectively the 6 months ahead is ideal. There can be rumours of bonus, yet it is still a rumour untill the anouncement. You can decide what you want to do about your sell mandate.

FatherOF2:

AND THEY SHALL LEARN TO MAKE MONEY EVERY MONTH _{as said earlier}

@FatherOF2
I agree with you here. I believe this is what everyone of us wanted. Pls no forget your brother for the special package. my e-mail is not hidden.

@ All, Compliments of the season oh! May we all know the reason for this season.

samenet:

Good day everyone, I am new to active and purposeful trading, all I have done before now was to buy, wait for certificate and dividends.

I salute all the Gurus on this thread , the Bible says that ,without any contradiction, the less is blessed by the better, as such I hereby submit myself to tutelage. I would also be observant to learn from the experience of others who had before been at the stage I am now.

I need your suggestions, solution and advices to the issues below;

1, Bought Zenith Shares in 2004, tried verifying the certificate with cscs recently; it was returned saying my attention is required. Who should I make myself available to?

2, UBA EQUITY; bought 50,000 units in 2006, tried verifying it. But was told is not listed. How do I dispose this off?

3, IBTC; AFRIBANK; bought these about 2yrs ago, I am yet to see the neither certificates nor dividends. The only evidence I have on these are the tellers I used to pay for the offers. What should I do to recover my investments?

4, GTB; bought in 2004 IPO, am yet to get a certificate though I receive dividends and I have gotten a bonus. I need to get the certificate.

5, I bought Access Aug, 2007, has the shares been allotted? How do company shares stay on TS?.

6,Discovery Fund; I misplaced my cert., I’ve written to ARM , I’ve also sent a sworn affidavit and other things the required, but according to them they are still awaiting the new cert. from the Registrar. I think it’s taken too long, what can I do fasten this process?

I just registered with Cash Craft, I stay in Ibadan, and they have a branch in Ibadan, could I have picked a better Stock Broker that is as close by.

Would appreciate your suggestions.

@ samenet,
Find my sugesstion on your issues as follows:

1. I presume you tried verifying your Zenith certificate through your stockbroker. Then you need to see your broker and get details of what zenith registrars want from you. It could be irregular signature between your PO form and verification form or inconsistent address between the forms. A visit to zenith registrar with your broker rep will not be a bad idea to clear it once and for all.
2. You have to wait untill when the new issues of UBA shares is listed before you can trade/dispose of it. No option to this. Just monitor news from NSE on new listing.
3. IBTC/AFribank shares - You need to call the registrars of these companies and ask for your account number with them. A visit to them is much better, it will clear things. The answers you get will tell you if your application was successfull and qty of units you have. If you have been checking your postal address without these certificates, this can be presumed lost if the registrars are not holding it (returned unclaimed)
4. You can follow same procedure for (3) only that with the divident warrant, you know you account number and you can use this to request for duplicate certificate from the registrars of GTB.
5. Access - Still a long way to go. not yet concluded - ertficate issuance, listng on NSE and verification of certificates. you at 3-4 months from now.
6. I think someone answer this already.

Best of luck.

@all, I holla oh!! You guys are too much. Everyday na catch up i dey do with this thread. May God increase your wisdom and investment skills.

@ DollyP1cute on dividend not yet received, Normally it takes a while to get dividend paid after it is decleared and it varies from company to company. The best practise is to submit the completed "dividend mandate to bank" form to the registrar of the companies your own shares and they will be crediting your bank account as at when due. For the current ones which you have not yet received, you can start by verifying with the registrars if your warrants have been returned undelivered to them, if not, you have to wait for it by post. If it comes more than 6 months after issuance, you can revalidate at the registrars. If you mention specific companies that you are affected, members can give their experience. Best of luck.

@samstone4 and all in similar positions,
Not usurping pumping rights, I have downloaded the document, I even tried to attach it in this response. The file is about 660KB. Limit allowed on the forum is 200kb.
You can easily download the file from megaload. You have to enter 3 digit code displayed at the upper right hand corner of the site when you connect, wait for some minutes and then click on the download button in the free download column. No registration required. try it.

@NBA
You do well. forget me not onwards. More grease to your knuckles in cruching.

I salute the gurus [sub][/sub]though i do not like this word[sup][/sup] and everybody in the forum. Una welcome back from the TS. Can someone who gets daily FSDH updates hook up a brother regularly? I subscribed over 2 weeks ago, never received any update.
my address is oore16(at)yahoo.co.uk

aylala2002:

But really, are we all interested in POs or buying on the floor?

@Aylala2002
Thank you for the 2007 thread, though I missed the train, this thread na "pass me not oh gentle saviour, "
to reply to your question, me I like both sides especially the ones that are seriously undervalued.
Merry Xmas in advance to you and ALL

Dear Nairalands,
I saw this news in the punch and felt that it needs sharing. There is a lesson to be learnt from it, most especially for those that have their dividends still missing or unperturbed to collect their cheques from the registrars.

[url][/url]http://www.punchontheweb.com/Articl.aspx?theartic=Art20071201425210
How mother of five used fake share certificates to rob unsuspecting investors
By Sesan Olufowobi
Published: Saturday, 1 Dec 2007
She comes across as a respectable housewife who would command the trust of anybody she comes in contact with. But that was the weapon 43-year-old Mrs. Wusilat Abiola Abeni Yusuf relied on to win the compassion of people who unwittingly helped her to defraud others.

Skip to next paragraph

File
Wusilat

The Economic and Financial Crimes Commission alleges that Wusilat has so far robbed unsuspecting investors of about N20 million.

According to the commission’s spokesman, Osita Nwajah, the woman had at various times presented dividend warrants and shares certificates of unsuspecting victims at different banks, pretending to be the owner, or presenting a fake ‘power of attorney’ letter with which she withdrew monies belonging to the investors. “That is what we have uncovered so far, because we are still investigating,” he said.

Saturday Punch gathered that Wusilat’s day of reckoning came after an official of UBA Registrars alerted others about her constant visit to the office, using different identities.

Unknown to her, her homely look became her undoing as the man who had been helping her out suddenly took interest in her case and discovered that not only were her frequent visits unusual, she had been answering to various names and identities.

It was said that subsequent probe by officials of the bank showed that Wusilat, who had on several occasions been to the bank and successfully withdrew money, was a fake. That was when luck ran out on her, Nwajah said.

It was gathered that Wusilat’s cup became full early last month on one of her many visits to the bank. On that day, she reportedly presented dividend and shares certificates accompanied with power of attorney, belonging to one Mr. Taiwo and Mr. Akporuere, using a fake international passport bearing her picture, but with her name as Osifeso Eunice. And because of the bank officials’ suspicions, she was apprehended, Nwajah said.

If, however, there were anything like a honest suspect, Wusilat would qualify for one. In her statement to the commission, she confessed that she had earlier used the same passport to get dividends from the shares of one Mrs. Akpochi from First Registrars. She said she also used the same Mrs. Akpochi’s name to open an account with UBA, Ebute-Metta branch, where she paid in dividend warrant and cheques totaling N10.5 million.

She confessed that she worked for a particular syndicate that specialises in shares and investment scam.

Taking the EFCC operatives through the syndicate’s mode of operation, she said the leader of the gang, whose name she refused to disclose, forged letters requesting registrars of the targeted companies to change the shareholders’ addresses to certain post office boxes controlled by the gang.

To get the names needed, the gang would simply open the reports issued by companies at their annual general meetings, listing their shareholders and list of unclaimed dividends.

Nwajah said that further investigations by EFCC revealed that Wusilat had also impersonated one Bewaji Adeleke, requesting stockbrokers to sell her shares and pay the proceeds into an account opened by her at First Bank, Surulere Shopping Centre. She disclosed that at the end of that transaction, the stock broking firm issued her a cheque of N2.4 million.

Wusilat, who said she had repented, further opened up on one of her escapades. “We found out that she used the international passport bearing the name Osifeso to withdraw N5.5 million from an account opened at Bank PHB, Ilupeju, Osita said.

It was learnt that the commission’s operatives from the Capital Market Fraud Unit, found in Wusilat’s bag a letter of authority purportedly written by a former managing director of Wema Bank, requesting First Registrars Ltd to change his address. “We invited the man and it was a shocked Chief Adegbite who denied knowledge of the letter to effect a change of address. He said the letter was forged,” Nwajah stated.

But Wusilat, mother of five who is still being detained, said in all the transactions she performed, she was given 10 per cent of the proceeds. She said she regretted the fraud and was ready to lead a new life.

The Managing Director of Union Registrars, Mr. Soji Olagunju, expressed shock that such fraud could be perpertrated in the present age. He said that laid down procedure should ordinarilly prevent the woman from gaining access to the dividends.

He said, “For instance, when you make a demand concerning your shares or dividends, you write and sign. We will then verify your signature with the ones we have in our records. If they are irregular, your request will not be honoured. Instead, we will write to you, asking you to go to your bank to identify you with your passport photograph and other things. Ordinarilly such fraud as the one you described should not have happened. It cannot happen here.”

When he was told that an instance of such fraud was already being investigated by the EFCC, Olagunju said, “It shows negligence. If a registrar is negligent and takes many things for granted, that is when it can happen.”

While he sympathised with Olagunju’s opinion that verification of signature and confirmation of the genuine owners of dividends should prevent fraudsters from gaining access to them, the Managing Diirector of First Registrars, Mr Bayo Olugbemi, acknowledged that fraudsdters still find a way to beat the system.

He said, “Some of them purposely open accounts, in the names of the persons they want to defraud, and the banks allowed them. Even when we insist that they obtain attestation from banks and that the banks should sign on their photographs, some of them (fraudsters) still got it done.”

He added that some of the fraudsters also intercept mails from the post offices to get the dividends.

Olugbemi noted that most of the stock frauds that had been committed in the past did not come to public knowledge because “even if someone fraudulently gets my dividend, once I can prove that I did not collect the dividend, the bank would still pay me. There is something they usually write on the dividend, like ‘not negotiable.’ The bank would have to pay.”

So, how can one avoid falling victim to the crime? Olagunju said, “If an investor is expecting his dividend and does not see it, his best bet is to get in touch with the registrar’s office. Many registrars now have offices natiowide, at least we have them in Union Registrars. So, you don’t have to come to Lagos.”

He continued, “The best advice we give now is that you get your dividend mandated to a bank. So, instead of sending it to you, we deal with the bank directly. And in these days of information technology, one can even send it electronically.”

Nwajah said that Wusilat would remain with the commission until all her fleeing accomplices were arrested and investigations concluded.

easimoni:

@ Yodiyoks and All

Perhaps someone could come up with an online file sharing service. If you have a box.net account, yodi could email this file to you and then you can post a link for us to you. Any takers?

@all, I salute.
May I suggest the emmachille style website where he posted so many files for download by people interested.
cheers

FatherOF2:


@ALL
On this issue of TS, why has Zenith and BankPHB suddenly moved off the offer chart.
It seems all the trading members of NSE are on this thread.You're all buying Zenith and BankPHB on the floor
and nothing for me to buy.Time never reachnow.Zenith starts on Dec. 6th,but its not on the offer table.WHY.
I'll see the position two weeks before the offer closes,maybe i'll offer N48.50 (N2.50 premium) to buy it off someone.

I cannot help this. Your students have learnt so fast that they are about to beat you. Please be proud of them

@ Etin,
Could you e-mail the LBIC prospectus and form to me . murphy_n2003(at)yahoo.co.uk
Thanks