Investment tribunals is their with cases taking several years with no hope....A nigerian securities firm Mis manage 30 bn naira investor funds ...within that period all staff collected their salary steady

Coro has wiped it out

ahiboilandgas:
keep doing what brought the 700 dollars in first place ..

Exactly!

emmanuelewumi:



The 5 years corporate bonds will be used to buy cheap assets, which will be sold in the next 5 years or less. A lot of distress sales are going on and will continue till the end of the year

Morning sir, I have been on the look out for opportunities to buy cheap assets and distress sales but I haven't seen any. Please I will know how you get informed on distress sales and deals. Thanks

Paulfroshman:


Morning sir, I have been on the look out for opportunities to buy cheap assets and distress sales but I haven't seen any. Please I will know how you get informed on distress sales and deals. Thanks

United Capital is buying debts and businesses, which they will inject capital, turnaround and sell at a profit. I am not sure if you have the billions of Naira they will be playing with.


Tony Elumelu and his goons from BGL used this strategy to buy distressed Crystal Bank, turned it around and renamed it Standard Trust Bank. When Hakeem Osagie Bello wanted to sell his majority holdings in UBA. Tony equally raised fund through public offering for Standard Trust Bank to buy Hakeem's holdings. Tony actually raised N7 billion.

After which a merger was consummated between UBA and Standard Trust Bank. With this Tony makes over N4 billion every year from UBA in form of dividends, excluding other money making opportunities.

QuinModah:
Coro has wiped it out

chai na to buy zenith bank shares be that ...

emmanuelewumi:



United Capital is buying debts and businesses, which they will inject capital, turnaround and sell at a profit. I am not sure if you have the billions of Naira they will be playing with.


Tony Elumelu and his goons from BGL used this strategy to buy distressed Crystal Bank, turned it around and renamed it Standard Trust Bank. When Hakeem Osagie Bello wanted to sell his majority holdings in UBA. Tony equally raised fund through public offering for Standard Trust Bank to buy Hakeem's holdings. Tony actually raised N7 billion.

After which a merger was consummated between UBA and Standard Trust Bank. With this Tony makes over N4 billion every year from UBA in form of dividends, excluding other money making opportunities.

oga na the same BGL collect ban from sec...Group Managing Director of BGL Group Plc, Mr Albert Okumagba, was unlucky as he got a life ban from SEC for alleged criminal conspiracy, bre

ahiboilandgas:
oga na the same BGL collect ban from sec...Group Managing Director of BGL Group Plc, Mr Albert Okumagba, was unlucky as he got a life ban from SEC for alleged criminal conspiracy, bre

NOT allegged it was actually true he conspired

Pascopele:
NOT allegged it was actually true he conspired

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SEC imposes life ban on BGL Securities' MD
02/02/2017 | ECE-AUTO-GEN | DIMEJI AKINLOYE
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Securities and Exchange Commission.
Securities and Exchange Commission.
The Commission said it has also cancelled the licenses of Assets Management Limited and BGL Securities Ltd belonging to Okumagba.

The

This is contained in a statement posted on the commission’s website.

The Commission said it has also cancelled the licenses of Assets Management Limited and BGL Securities Ltd belonging to Okumagba.

It said the duo two were also banned from ever holding office in any public company in the country.

The commission said that these were the final decisions of the SEC Administrative Proceedings Committee (APC) in the matter of APC/1/2015: Rivers State Ministry of Finance & 31 Others V. BGL Plc & 31 Others.

In a circular on the final decisions, SEC indicated that the companies and their officials breached extant capital market laws and rules that led to a loss of N5.77 billion to 32 innocent investors.


The circular stated that the decisions on Okumagba and others were final as the decisions have “been approved by the relevant authority”.

According to the commission, it received 32 complaints between 2012 and 2015 against the BGL companies over certain conducts in relation to operations of their Guaranteed Consolidated Notes (GCN) and Guaranteed Premium Notes (GPN).

“Investigations revealed that the 1st to the 4th respondents had through the 5th to 32nd respondents breached some provisions of the Investment and Securities Act (ISA) 2007 as well as the SEC Rules and Regulations, which resulted to a loss of about N5,769,993,553.67 for 32 innocent investors,” SEC stated.

The Commission stated that in order to ensure that the innocent investors obtain justice while also granting all parties fair hearing, the Commission invited all parties before the APC and having properly issued hearing notices, the APC sat on Dec. 8, 2016 to hear the matter.

According to SEC, in the course of the hearing, testimonies and documentary evidence were tendered by various parties, which led to the decisions of the APC.


NAN reports that other officials that were affected include Mr Peter Adebola, who was banned for five years, Joseph Ashley-Osuzoka was banned for four years with a fine of N100,000, Joshua Sesan Adetiloye and Ms Mshelia Bittinger were banned for one year.

Others are Nkechi Azubuike, Victor Inyang, Hilary Eludu, and Andre Ewubare who were slammed with two-year ban with a fine of N100,000 each, while Anthony Nwozor was banned for one year with a fine of N100,000.

Also, Okumagba and Edozie were directed to pay N100,000 fine each, while BGL Assets Management Ltd and BGL Securities Ltd.,were directed to pay N23.2 million and N10.1 million respectively.

The circular stated that another BGL company, BGL Plc, was directed to pay a fine of N5 million.

ahiboilandgas:
oga na the same BGL collect ban from sec...Group Managing Director of BGL Group Plc, Mr Albert Okumagba, was unlucky as he got a life ban from SEC for alleged criminal conspiracy, bre

He was Tony's friend from the University, was also his best man when he got married.


I used to have an account with BGL before they had problems, I have transferred my account to FSDH without experiencing any loss .

BGL has made restitutions to those who invested in the fund in question. That is the essence of investing in SEC regulated investments

ahiboilandgas:
oga na the same BGL collect ban from sec...Group Managing Director of BGL Group Plc, Mr Albert Okumagba, was unlucky as he got a life ban from SEC for alleged criminal conspiracy, bre

BGL still have over 800 million units of UBA shares, except if they have sold. That would have given the company a dividend of N720 million for 2019 financial year

emmanuelewumi:


He was Tony's friend from the University, was also his best man when he got married.


I used to have an account with BGL before they had problems, I have transferred my account to FSDH without experiencing any loss .

BGL has made restitutions to those who invested in the fund in question. That is the essence of investing in SEC regulated investments

Is BGL still in operation as in buying and selling stocks for clients?.

emmanuelewumi:



BGL still have over 800 million units of UBA shares, except if they have sold. That would have given the company a dividend of N720 million for 2019 financial year

they sourced it from the unconventional ways of becoming wealthy in world..do u have any link where they paid restitution..i need to read up

ahiboilandgas:
they sourced it from the unconventional ways of becoming wealthy in world..do u have any link where they paid restitution..i need to read up

How? A petition to SEC will cancel the shares if there are irregularities in the acquisition of the shares

When Otunba Subomi Balogun was young, he does not collect his professional fees as an investment banker in cash but in shares. He is currently earning billions from those shares


When Okomu Oil was established Gbenga Oyebode did not collect his professional fee in cash, but converted it to share before the end of the month the company will pay him a dividend of N63 million.

NL1960:


Is BGL still in operation as in buying and selling stocks for clients?.

Their license was withdrawn by SEC about 6 years ago

ahiboilandgas:
keep doing what brought the 700 dollars in first place ..

What if she is a freelancer? You mean she should continue freelancing and saving the money?

emmanuelewumi:



Their license was withdrawn by SEC about 6 years ago

What of those that were using them for buying and selling of stocks?. I once knew that to transfer shares to another stockbroking house, the current stockbroking house has to sign. Do not know if this is still the process.

NL1960:


What of those that were using them for buying and selling of stocks?. I once knew that to transfer shares to another stockbroking house, the current stockbroking house has to sign. Do not know if this is still the process.

How is that possible?

OgogoroFreak:
What if she is a freelancer? You mean she should continue freelancing and saving the money?

Yes, a lot of people are freelancing and investing until it gets to a level when the income the Investments bring is higher than what the hustle generates

emmanuelewumi:



How? A petition to SEC will cancel the shares if there are irregularities in the acquisition of the shares

When Otunba Subomi Balogun was young, he does not collect his professional fees as an investment banker in cash but in shares. He is currently earning billions from those shares


When Okomu Oil was established Gbenga Oyebode did not collect his professional fee in cash, but converted it to share before the end of the month the company will pay him a dividend of N63 million.

why didnt he use the 800 million units of uba share to pay up the 5 bn naira BGL investments frauds?.....there are thousands of investor with small some that can do litigation...so their investment is lost forever

emmanuelewumi:




Yes, a lot of people are freelancing and investing until it gets to a level when the income the Investments bring is higher than what the hustle generates

My point is that, telling people looking for how to invest their money to continue doing what they are doing like investing the money is going to stop them from doing what generates the money is somehow cos some offer services and get paid. Investing their money doesn't affect what generate the money in the first place.

The arraignment of Stephen Akinretoye, Peter Ololo and Falcon Securities Limited, charged with N43.9bn fraud, was further stalled

9jatriot:
Why do many women always believe their husbands will die before them and they must as a matter of urgency be entitled to all his assets. Most men hardly have this kind of mindset for his wife.
The man himself is thinking if I die, what happens to my family. He devise ways to ensure that madam has access in an eventuality, it is very hard to see a woman say "how do my husband and children have access to my wealth if I die".

Probably because up to now, women have had no money to speak of. Women do make sure their children are provided for.
Even the man's wealth she is "plotting" for will be used for the children. What's terrible in that?

emmanuelewumi:



How is that possible?

myself and my wife had our accounts there. We have not bought stocks for many years now. She is thinking of resuming buying of shares. That is why iam asking.

needful:
Now I wanna comment on the issue of moving to Canada, get your credentials evaluated, write ur IELTs, get your pof intact and enter pool very fast. Points are dropping very fast and Candada will sure need more people considering covid 19.

I really do not understand the reason why we discourage people not to migrate to a place most of us have not been to. I had also heard about people lamenting on starting from the scratch and bla bla bla. Pls its not everyone that migrated to canada started from the scratch. Destiny and lucks with preparation differs. I personally started from the scratch because I moved to Canada as an Accountant but later decided to move into healthcare because of my kids. Oga moved as a welding Inspector but never started from the scratch because his job is in demand alot.

On the aspect of the kids, there are good schools here, ranging from Catholic to moslem schools where homosexuality wont be taught and even where its taught, the school usually give parents yearly school course work so as to enable u monitor what ur child learn in school. For those advising you to stay back if u are earning 500k, I really don't know what to tell them but why not ask them to come back and earn 500k in Nigeria.

Many Nigerians who stick to minimum wage jobs are the most lazy ones, they want to push drugs and make 200million dollars over night. They practically doesnt wanna do anything meaningful with their life. Go to school, no way, do certification course, no way, collect loan and do biz, too difficult for them. Pls do not sit down and listen to Nigerians abroad. Get the immigrant visa if u can, leave ur family and come alone for 3months and if it doesnt meet your expectations, then go home.

I repeat, stop listening to most of our Nigerians abroad and do not allow age to deter ur plans whether 40yrs old or 50yrs old, opportunities are here for everyone but most of us are too lazy to grab it. Do not come after me because i do not have time to argue

can my wife be the primary applicant? As I am above 40 and don’t have a masters degree yet, which will make my crs score low.

OgogoroFreak:
It keeps putting smiles on my face everyday.

1 btc is now worth $9,277

Plus the Naira devaluation, I have already made 100% profit if I sell today

This thing should be called blood money!

Sell and enjoy your money.

why?

ahiboilandgas:
The arraignment of Stephen Akinretoye, Peter Ololo and Falcon Securities Limited, charged with N43.9bn fraud, was further stalled

OgogoroFreak:
It keeps putting smiles on my face everyday.

1 btc is now worth $9,277

Plus the Naira devaluation, I have already made 100% profit if I sell today

This thing should be called blood money!

Time to start moving to a stable coin. You can hedge in USDT or BUSD if you use Binance.

cucumbar:
can my wife be the primary applicant? As I am above 40 and don’t have a masters degree yet, which will make my crs score low.

I dont see why not. I do not like spousal visas because they are usually longer pathways but if it offers your best chance,take it.

NL1960:


myself and my wife had our accounts there. We have not bought stocks for many years now. She is thinking of resuming buying of shares. That is why iam asking.

Go to CSCS, get your statement of stockholdings and do an inter broker transfer because you can't trade through BGL again

ahiboilandgas:
why didnt he use the 800 million units of uba share to pay up the 5 bn naira BGL investments frauds?.....there are thousands of investor with small some that can do litigation...so their investment is lost forever

BGL has other investments, they have balances running into billion of Naira and millions of dollars.

They have made restitutions ie they have paid back and paid fines, if not the business would have declared bankruptcy

Theconglomerate:
If Dangote,Otedola,obijackson,Arthur eze still live in lagos,that should tell us a lot about all our so called well-doing brothers that claim they are migrating for quality of life reasons.
Poverty go dey chase person,e go come dey talk nonsense.

Why is dangote is moving his funds to America.