omakay:
The last few days here has being on unclaimed dividends. And the trend am seeing is something like this, ''i checked the list and saw my late dad's name''

Is it that the past generation was secretive about their assets and investments?

If this is the case, then i begin to wonder how many peoples' assets and investments have disappeared into the wind after their death because the next generation know nothing about them.

It still happens till this generation. Its not a past generation thing, it's an individual thing.

OgogoroFreak:
It still happens till this generation. Its not a past generation thing, it's an individual thing.

Exactly....

[quote author=Emmydude post=93144307]@EmmaSoft, Please, my dad said he owns shares with Fidelity bank but I can't find his name on the SEC site, what do I do? He seems to have misplaced his certificate. Thank you for all your investment advice.[/quote

Let him go to First Registrars at 2, Abebe Village road Iganmu, if you are in Lagos or go to any main breach of first bank in any major city in Nigeria it will be sorted.
Two things: if he has outstanding dividends it will be credited after completion of the e- mandate form. secondly he will be given a dematerialization form which you are required to see a strockbroking firm with for onward deposit into his cscs account.
If he's yet to have a cscs account, Investment one can do that. Just click on the link on my signature to register for free. You can as well call or chat my number is available on my signature.

Guys

See this article.
https://www.stearsng.com/article/from-venezuela-to-nigeria-with-love

Increasing public debt, government corruption, multiple exchange rates are similarities between Nigeria and pre-crisis Venezuela.

Only two things gives me hope and little confidence in the Nigerian economy:
1. That we produce most of the food we eat locally.
2. Dangote refinery

RayRay06677:
MBBOV Multipurpose Nigeria Limited.

Any body knows the above name investment house and how legit are they. Thanks

Find out at http://sec.gov.ng/cmos/

emmasoft:


Contact united securities for intercontinental turned Access and First registrars for first bank. The current status of your holdings in any company is best varified at the registrar's office

Thanks, A LOT.

emmasoft:


Find out at http://sec.gov.ng/cmos/

Thanks

It is one of the reasons we are on this forum, to learn how to increase our earnings and not to make mistakes that the past generation made.

omakay:
The last few days here has being on unclaimed dividends. And the trend am seeing is something like this, ''i checked the list and saw my late dad's name''

Is it that the past generation was secretive about their assets and investments?

If this is the case, then i begin to wonder how many peoples' assets and investments have disappeared into the wind after their death because the next generation know nothing about them.

Folks, with regards to shares from our forebears who are no longer alive, this is the response I got from CSCS on the subject matter.

Dear sir/ma'am,

Thank you for contacting CSCS customer service.

With reference to your request, kindly obtain the letter of administration and contact the stockbroker/ any of the stockbrokers where the stocks are housed.

The account will be converted to an estate account and the administrators are to manage the account(s) on behalf of the family.

ojesymsym:
Folks, with regards to shares from our forebears who are no longer alive, this is the response I got from CSCS on the subject matter.

Thanks for sharing. This has confirmed all we have said. Anything that has to do with our loved ones who are late as regard claiming their holdings in any company starts from the WILL they left behind or letter of administration

Yes boss, very true. What I was hearing for the first time was the conversion to estate account. Perhaps you can help throw more lights on that.

emmasoft:


Thanks for sharing. This has confirmed all we have said. Anything that has to do with our loved ones who are late as regard claiming their holdings in any company starts from the WILL they left behind or letter of administration

ojesymsym:
Yes boss, very true. What I was hearing for the first time was the conversion to estate account. Perhaps you can help throw more lights on that.

Yes that is the name it's called. The account that is opened or operated on behalf of a late person. It's to show that the person operating it is not the original owner of the investment. Opening and operating an estate account is just as simple as opening a personal account with the bank or a stockbroking firm. once a letter of administration is obtained, the rest is simple and straight forward.
However, obtaining a letter of administration is not as easy and simple as it's being mentioned but it's achievable.

emmasoft:


Yes that is the name it's called. The account that is opened or operated on behalf of a late person. It's to show that the person operating it is not the original owner of the investment. Opening and operating an estate account is just as simple as opening a personal account with the bank or a stockbroking firm. once a letter of administration is obtained, the rest is simple and straight forward.
However, obtaining a letter of administration is not as easy and simple as it's being mentioned but it's achievable.

I also read online that it takes 4 to 6months to obtain it in lagos via a high court and you also pay between 5 to 15 percent of the value of the estate to the state government where the letter of administration was issued, nawao ,l hope what I read online is correct though, I will allow a lawyer to follow it up for me since I am currently not resident in Nigeria

AngelicBeing:
I also read online that it takes 4 to 6months to obtain it in lagos via a high court and you also pay between 5 to 15 percent of the value of the estate to the state government where the letter of administration was issued, nawao ,l hope what I read online is correct though, I will allow a lawyer to follow it up for me since I am currently not resident in Nigeria

Yes there is a percentage to give to the government but I can't say exactly the rate. For the duration it takes, it may be more than what you stated.
Sincerely most people that have had the experience their comment is it's not easy is always the case but it's possible and doable.

Another good approach in all of these is to register a business name and use that name for all your business transactions. You can use it to buy shares, build houses, real estate etc.
Because a business is believe not to die a physical death, it is the best way of transferring wealth across different generations without paying that inheritance tax. All you need to do is just keep making the descendants partners in the business and signatory to the accounts.

This can go on for ages, just remember to be paying your taxes though which I believe will not be too much.

emmasoft:


Yes there is a percentage to give to the government but I can't say exactly the rate. For the duration it takes, it may be more than what you stated.
Sincerely most people that have had the experience their comment is it's not easy is always the case but it's possible and doable.

ojesymsym:
Yes boss, very true. What I was hearing for the first time was the conversion to estate account. Perhaps you can help throw more lights on that.

The children of the deceased will become the administrators of the account and Investments

They can decide to sell the Investments or transfer the Investments to themselves

The family of an investor who died without a will, are expected to get a letter of administration from the court which will be used to open an Estate account. His bank account, Investments, houses etc will be transferred to the estate account

AngelicBeing:
I also read online that it takes 4 to 6months to obtain it in lagos via a high court and you also pay between 5 to 15 percent of the value of the estate to the state government where the letter of administration was issued, nawao ,l hope what I read online is correct though, I will allow a lawyer to follow it up for me since I am currently not resident in Nigeria

About 10%, you can avoid this by having a will

ojesymsym:
Another good approach in all of these is to register a business name and use that name for all your business transactions. You can use it to buy shares, build houses, real estate etc.
Because a business is believe not to die a physical death, it is the best way of transferring wealth across different generations without paying that inheritance tax. All you need to do is just keep making the descendants partners in the business and signatory to the accounts.

This can go on for ages, just remember to be paying your taxes though which I believe will not be too much.

Or transfer your Investments and assets to a Trust account, managed by SEC approved Trustees

Uh

emmasoft:


Yes there is a percentage to give to the government but I can't say exactly the rate. For the duration it takes, it may be more than what you stated.
Sincerely most people that have had the experience their comment is it's not easy is always the case but it's possible and doable.

@ emmanuelewumi and emmasoft thanks, I am not really in too much of a haste, I will allow the whole process to go through even if it takes more than 6months, afterall I never knew that the shares existed in the confines of the Nigerian stock exchange if not on this thread, kudos to all of you

Sir, how does this work?
Do you handover control to them? As in, can I still decide what shares to buy or sell, or they are basically in control of that like a mutual fund is?

emmanuelewumi:



Or transfer your Investments and assets to a Trust account, managed by SEC approved Trustees

ojesymsym:
Sir, how does this work?
Do you handover control to them? As in, can I still decide what shares to buy or sell, or they are basically in control of that like a mutual fund is?

You include it in your will, so everything will automatically be transferred to the Trust. You can include in your will, for the Trustees to keep on managing the Trust for the next 20 years, till your last born is 35 years old or any specification you want

Read Gani Fawehinmi Will to understand the instructions given to the Trustees in the will

Funds and cash flow from the Trust account will be used to pay the children school fees, maintain the property, make further investments , start up capital for the children and also give allowances to the children and loved ones


We have FBN Trustees, United Capital Trustees, Custodian Trustees etc. They are regulated by SEC and also expected to give regular reports about the running of the Trust account.


I once shared the story of a guy who got N4 million from the Trust account set up by his late father. He used the fund to start a real estate and construction Company about 20 years ago after he graduated from Yaba College of Technology. This gave him a headstart and has been able to grow the business to a multi million Naira enterprise

emmanuelewumi:



You include it in your will, so everything will automatically be transferred to the Trust. You can include in your will, for the Trustees to keep on managing the Trust for the next 20 years, till your last born is 35 years old or any specification you want

Read Gani Fawehinmi Will to understand the instructions given to the Trustees in the will

Funds and cash flow from the Trust account will be used to pay the children school fees, maintain the property, make further investments , start up capital for the children and also give allowances to the children and loved ones


We have FBN Trustees, United Capital Trustees, Custodian Trustees etc. They are regulated by SEC and also expected to give regular reports about the running of the Trust account.


I once shared the story of a guy who got N4 million from the Trust account set up by his late father. He used the fund to start a real estate and construction Company about 20 years ago after he graduated from Yaba College of Technology. This gave him a headstart and has been able to grow the business to a multi million Naira enterprise

Thank you so much for all the invaluable information you share on this thread.

I think I like this idea. I remember that Gani's Will being discussed. It was when we dived into spouses remaining at a person's demise and then the new partner mismanaging the funds. It was really an interesting read then. I believe if I compile the discussions we have had here and compile into a book, e go sell o. lol
Thanks oga Emma, you are truly gem.
What is your opinion on Seplat, is it present price of less than 385 an opportunity that does not come everyday, or still overpriced or not a good company to invest in?

emmanuelewumi:



You include it in your will, so everything will automatically be transferred to the Trust. You can include in your will, for the Trustees to keep on managing the Trust for the next 20 years, till your last born is 35 years old or any specification you want

Read Gani Fawehinmi Will to understand the instructions given to the Trustees in the will

Funds and cash flow from the Trust account will be used to pay the children school fees, maintain the property, make further investments , start up capital for the children and also give allowances to the children and loved ones


We have FBN Trustees, United Capital Trustees, Custodian Trustees etc. They are regulated by SEC and also expected to give regular reports about the running of the Trust account.


I once shared the story of a guy who got N4 million from the Trust account set up by his late father. He used the fund to start a real estate and construction Company about 20 years ago after he graduated from Yaba College of Technology. This gave him a headstart and has been able to grow the business to a multi million Naira enterprise

ojesymsym:
I think I like this idea. I remember that Gani's Will being discussed. It was when we dived into spouses remaining at a person's demise and then the new partner mismanaging the funds. It was really an interesting read then. I believe if I compile the discussions we have had here and compile into a book, e go sell o. lol
Thanks oga Emma, you are truly gem.
What is your opinion on Seplat, is it present price of less than 385 an opportunity that does not come everyday, or still overpriced or not a good company to invest in?

I don't expect 2020 to be a good year for them, but going forward I see them doing well in the gas sector, they also make money in dollars which is good for diversification

This days you can't trust your friends, brothers or relatives with the execution of your Will, reason why some people prefer dealing with the court or corporate bodies.

Hello Sirs and Ma'am,

Please, I'm considering venturing into POS business.

I will appreciate advise and heads up on the financial institution to work with?

NB:
I have done some findings and it seems Zenith Bank appears more reliable. Based on review from people doing the business.

Locate it where you no the place does not have many atm or banks in that area

kintus:
Hello Sirs and Ma'am,

Please, I'm considering venturing into POS business.

I will appreciate advise and heads up on the financial institution to work with?

NB:
I have done some findings and it seems Zenith Bank appears more reliable. Based on review from people doing the business.

Leezah:
. The last part of your statement. I think it not a function of the area but the tenants in question, my opinion tho because a verification should be done on the tenants you can [b]Google creditchex [/b]they help carry out verification on tenants, school debtors etc

Thanks for this info.

I flunked through school, my secondary education was a mess, I used to score F's like tomorrow no dey. Always averaging between 40 and 50% . I giraffed and cheated alot. But I was good at math, i learnt math in class, teaching it to classmates some of which averaged 70% and above. In my JSS1 I could remember drawing letters instead of copying from d blackboard, I didn't understand the words formation. To be honest most of my grades in the WAEC (2000) exams were a product of copying from my neighbors. I was also among the pioneers of NECO, anybody that took the exam then knows how freely available the expos were.

The first time I did some work was for my jamb prep. I had to study the whole math, physics and chemistry syllabus with no much prior knowledge. It took me 3 attempts to get in my course of choice (the second attempt was fruitful but I messed up the school choices and so had to re-write). In the uni I tried in the first and second year, then in the rest I went back to my ways, lol, ended with a 2.2. Maybe it would have been 3rd if not for those first 2 years.

I was lucky, after NYSC I got an average job in one of those oil servs, courtesy of my uncle. Now, I am doing same thing, my peers have all left to bigger jobs making lots of $$$ and I am still at my drawing desk, 10 years later. I think I am a mess.

Sometimes, I blame Dad for truncating my life. I did my nursery and elementary school in Rome, Italy. I can remember back then I was among the best in my class, my teachers reports were favourable. In my class I was never discriminated against I felt I was like them, used to have a best friend, Fernando Carissimi. It was not to last, my Dad wanted to return to his country Nigeria, without any practical plans.

Ever since, I have been sinking. What I would have been if we had staid back or relocated to better countries like usa or uk, some families relocated to usa back then, it was easier. I know I am being irrational. I also derailed a thread too. I am depressed. I lack d will to act.

ositadima1:
I flunked through school, my secondary education was a mess, I used to score F's like tomorrow no dey. Always averaging between 40 and 50% . I giraffed and cheated alot. But I was good at math, i learnt math in class, teaching it to classmates some of which averaged 70% and above. In my JSS1 I could remember drawing letters instead of copying from d blackboard, I didn't understand the words formation. To be honest most of my grades in the WAEC (2000) exams were a product of copying from my neighbors. I was also among the pioneers of NECO, anybody that took the exam then knows how freely available the expos were.

The first time I did some work was for my jamb prep. I had to study the whole math, physics and chemistry syllabus with no much prior knowledge. It took me 3 attempts to get in my course of choice (the second attempt was fruitful but I messed up the school choices and so had to re-write). In the uni I tried in the first and second year, then in the rest I went back to my ways, lol, ended with a 2.2. Maybe it would have been 3rd if not for those first 2 years.

I was lucky, after NYSC I got an average job in one of those oil servs, courtesy of my uncle. Now, I am doing same thing, my peers have all left to bigger jobs making lots of $$$ and I am still at my drawing desk, 10 years later. I think I am a mess.

Sometimes, I blame Dad for truncating my life. I did my nursery and elementary school in Rome, Italy. I can remember back then I was among the best in my class, my teachers reports were favourable. In my class I was never discriminated against I felt I was like them, used to have a best friend, Fernando Carissimi. It was not to last, my Dad wanted to return to his country Nigeria, without any practical plans.

Ever since, I have been sinking. What I would have been if we had staid back or relocated to better countries like usa or uk, some families relocated to usa back then, it was easier. I know I am being irrational. I also derailed a thread too. I am depressed. I lack d will to act.

Bros don't feel bad,I know how you feel.
I have a similar story too,I was very bright in school and destined for greater things.
Maths,physics,mechanics were my favourites and I made straight As in my O and A levels.
Entered university and dropped out 3 times from 3 different institutions chasing money in rubbish ways(stress is on another level).
Some of my friends in corporate world are doing very good in life.I feel we all make the same kind of money,the only difference is I stress more to make mine and the risk is on another level.
Studied applied physics and dropped,studied math and dropped and studied engineering too and dropped at some point.
When you finally make the money,you find out there is more to life than money.
The peace I would have got if I had stayed in line is what I wont exchange for the world if I had known then.
Yours is even better,your career can even advance.
Me?No way...I've still got to go back to school before thinking of anything.
Do I regret my action?Hell no I don't!
I would do it again and again because the experience I got in business wouldn't be here now at this age and the spoils too
I'm still young,i am going back to school this year to start from where i stopped then get my degree(2 yrs max).
Then after that I will retire from this stressful,difficult and challenging business and do something else abeg.
I also grew up in a foreign country or countries and it seems we are both igbo.
Cheer up and relax,if you ever in PH just holla make we link up,life isn't too serious abeg.

ositadima1:
I flunked through school, my secondary education was a mess, I used to score F's like tomorrow no dey. Always averaging between 40 and 50% . I giraffed and cheated alot. But I was good at math, i learnt math in class, teaching it to classmates some of which averaged 70% and above. In my JSS1 I could remember drawing letters instead of copying from d blackboard, I didn't understand the words formation. To be honest most of my grades in the WAEC (2000) exams were a product of copying from my neighbors. I was also among the pioneers of NECO, anybody that took the exam then knows how freely available the expos were.

The first time I did some work was for my jamb prep. I had to study the whole math, physics and chemistry syllabus with no much prior knowledge. It took me 3 attempts to get in my course of choice (the second attempt was fruitful but I messed up the school choices and so had to re-write). In the uni I tried in the first and second year, then in the rest I went back to my ways, lol, ended with a 2.2. Maybe it would have been 3rd if not for those first 2 years.

I was lucky, after NYSC I got an average job in one of those oil servs, courtesy of my uncle. Now, I am doing same thing, my peers have all left to bigger jobs making lots of $$$ and I am still at my drawing desk, 10 years later. I think I am a mess.

Sometimes, I blame Dad for truncating my life. I did my nursery and elementary school in Rome, Italy. I can remember back then I was among the best in my class, my teachers reports were favourable. In my class I was never discriminated against I felt I was like them, used to have a best friend, Fernando Carissimi. It was not to last, my Dad wanted to return to his country Nigeria, without any practical plans.

Ever since, I have been sinking. What I would have been if we had staid back or relocated to better countries like usa or uk, some families relocated to usa back then, it was easier. I know I am being irrational. I also derailed a thread too. I am depressed. I lack d will to act.

Your dad relocated to Nigeria? Eyah, I guess he wanted to make the country better.

Is this you or a copied content?
Are you not same guy who went from just knowing about stock in February to analyzing stocks in July? Abi ma joke u de?

ositadima1:
I flunked through school, my secondary education was a mess, I used to score F's like tomorrow no dey. Always averaging between 40 and 50% . I giraffed and cheated alot. But I was good at math, i learnt math in class, teaching it to classmates some of which averaged 70% and above. In my JSS1 I could remember drawing letters instead of copying from d blackboard, I didn't understand the words formation. To be honest most of my grades in the WAEC (2000) exams were a product of copying from my neighbors. I was also among the pioneers of NECO, anybody that took the exam then knows how freely available the expos were.

The first time I did some work was for my jamb prep. I had to study the whole math, physics and chemistry syllabus with no much prior knowledge. It took me 3 attempts to get in my course of choice (the second attempt was fruitful but I messed up the school choices and so had to re-write). In the uni I tried in the first and second year, then in the rest I went back to my ways, lol, ended with a 2.2. Maybe it would have been 3rd if not for those first 2 years.

I was lucky, after NYSC I got an average job in one of those oil servs, courtesy of my uncle. Now, I am doing same thing, my peers have all left to bigger jobs making lots of $$$ and I am still at my drawing desk, 10 years later. I think I am a mess.

Sometimes, I blame Dad for truncating my life. I did my nursery and elementary school in Rome, Italy. I can remember back then I was among the best in my class, my teachers reports were favourable. In my class I was never discriminated against I felt I was like them, used to have a best friend, Fernando Carissimi. It was not to last, my Dad wanted to return to his country Nigeria, without any practical plans.

Ever since, I have been sinking. What I would have been if we had staid back or relocated to better countries like usa or uk, some families relocated to usa back then, it was easier. I know I am being irrational. I also derailed a thread too. I am depressed. I lack d will to act.