MarketWatch

[Murphy]

Originally Posted by tonidol

Please does anyone know if CSL has e-mandate forms for payment of dividends directly into bank account for stocks in which they are registrars?

Yes CSL does have e-dividend form for all the companies they are registrar to in one form. You have to visit their office at PRIMEROSE Towers, 2nd floor near central bank in Lagos. I am not sure this form is available on-line. you or anyone can pick up this form from them.

[hispy99]

Capital market committee members want leadership change at SEC, NSE
Monday, 06 April 2009 00:27 BY OUR REPORTER

Several members of the Adedotun Sulaiman committee on the clean up of the Nigerian Capital Market say they do not think the expected reform programme should be implemented by the current leaderships at both the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE). The reform committee set up by SEC’s board of directors last year, turned in its report in February and this was followed by two separate presentations of a summary of the report to SEC’s directors in Abuja.

The committee members who worked on the report are Segun Aganga of Goldman Sachs; Babatunde Ajibade, a Senior Advocate of Nigeria; Lawrence Fubara Anga of Aelex Law firms; Sonnie Ayere, CEO of UBA Global Capital Markets, Yvonne Ike-Fasinro of J.P Morgan and Olutola Mobolurin, CEO, Crusader Nigeria plc. Others are Yusufu Modibbo, CEO of Tiddo Securities Limited; Godwin Obaseki, CEO of Afrinvest West Africa Limited; Albert Okumagba, CEO of BGL plc; Bismarck Rewane of Financial Derivatives Company Limited; Yewande Sadiku of Stanbic IBTC Bank plc; Edo Ukpong of Consolex Legal Practitioners; Bala Usman of the SEC, who acted as secretary of the committee; Hassan Musa Usman of Aso Savings & Loans plc and Francis Essem Wood of FCMB Capital Markets Limited.

At separate interviews with BusinessDay spanning over three weeks, several members of the committee who spoke on the condition of anonymity said although the committee did not expressly recommend a leadership change, this can be easily inferred by reading between the lines. “There was a strong feeling among members of the committee that a good place to start is by having new and trusted leaderships at these key institutions”, said one member of the committee.

“The market has taken such a massive beating and although a good part of this can be attributable to the global economic meltdown, there has always been concern about the leaderships and their conduct. And this concern is believed by many market operators to be the main catalyst. The global economic meltdown merely hastened the crash”, he added.

Another member of the committee said “the changes which we seek for the capital market are far reaching and some aim to clear the mess of the past. If you do not put a new leadership in place before these changes, the credibility issue will continue to hang over the market. And this is a needless distraction”

The leadership of the NSE had hinted at a plan to demutualise the Exchange but a member of the reform committee with extensive international exposure said such a plan must be thoroughly debated by stakeholders and once a road map is agreed, the process should be handed to a new set of leaders to drive. The concept of demutualisation denotes that the NSE will transform from being a self regulatory organisation (SRO) to a public organisation. The process is expected to yield a new organisational structure for the Exchange and will culminate in the listing of the NSE on its own Exchange and other Exchanges.

Demutualisation is the process through which a member-owned company becomes shareholder-owned and is a step toward the initial public offering (IPO) of a company. Insurance companies often have the word “mutual” in their name, when they are mutually owned by their policy holders as a group. In recent years, however, there has been a strong trend for these companies to demutualise, converting to a shareholder ownership base.

By the time the NSE demutualises, its organisational structure would change while the management will be led by a group chief executive officer (GCEO) who will be supported by three executive directors (EDs). The three directorates will be the Compliance and Surveillance, Quotations and Listings as well as Market Operation/ Information Technology (IT).

The current director general of the NSE, Ndi Okereke-Onyiuke, had hinted that she would retire at the completion of the demutualisation process in 2010 but would remain on the board to guide the new leadership for another three years. However, the committee members who spoke to BusinessDay said she does not have to wait till next year.

The reform committee member said: “I have strong reservations against allowing these people at the NSE to stay on. We are talking about the collective wealth of millions of Nigerians and their foreign partners. The debate now should not be whether or not the leadership should be asked to go. They should just go. This way, we can all together begin to rebuild the market and people’s confidence in it”. The committee on the review of “Capital Market Structure and Processes” had in its report recommended an improvement in standards of disclosure, transparency and accountability in the capital market.

Other recommendations by the committee as enumerated by its chairman, Sulaiman, include the upgrading of the international competitiveness of the Nigerian capital market and the need to increase its depth, breadth and sophistication. The committee also suggested the need to enhance efficiency, cost competitiveness, strengthening the participating institutions, as well as regulatory oversight of the capital market. Part of the recommendations also includes an improved coordination between fiscal and monetary regulatory authorities in our wider financial system.

He said that the committee was able to reach a consensus on the future direction of the Nigerian capital market as well as an overwhelming agreement that Nigeria has a realistic chance of achieving a vision to become “a world class capital market that is efficient, transparent, innovative and attractive to investors both local and foreign while contributing to and facilitating the growth and development of Nigerian and African economies”.

The committee chairman who noted that the implementation of the proposed recommendations will not be easy canvassed concerted effort by all key stakeholders will be essential to create a capable market of their vision. He was optimistic, saying “in spite of all the challenges the world faces today, it has become clearer than ever that our ability to create a strong and vibrant capital market is completely inter-twined with our ability to build a sustainable economy.”

[hispy99]

Foreign investors renew interest in Nigerian stocks
By Udeme Ekwere
Published: Monday, 6 Apr 2009

Despite the continued decline of activities in the Nigerian capital market, more foreign investors have renewed interest in the Nigerian stocks.

In spite of the recent Bloomberg survey, which put the nation’s capital market at the bottom of world performers, some foreign investors, who visited the Nigerian Stock Exchange on Friday, said the Nigerian capital market, was robust with a lot of potential and profitability for investors.

The three-man team of asset managers from London-based Blakeney Management, paid a courtesy visit to the NSE and the Central Securities and Clearing Systems. Leader of the team, Mr. Obiora Ogbunude, expressed renewed confidence in the market, saying most of the quoted companies were operating optimally and profitably.

Disclosing that the firm currently managed about $2bn portfolio worldwide, Ogbunude said that the firm was interested in investing in the long-term in the Nigerian capital market.

According to him, “Nigeria is a very significant market to us. Interestingly, many people may not know us. We invest through others, and I want to say that after Aliko Dangote, we are probably the next largest investor in sugar business here.

“We know Nigeria very well. We are not here for short-term investment, we have long-time investment horizon, and we usually invest for between three to 10 years in any company”.

He said that the firm had been investing in the Nigerian market for a long-time, adding that despite the market meltdown, the firm had not moved its investments out of the country and had no intention of doing so now.

“Instead of having an outflow from Nigeria, we are bringing in new money. We manage long-time institutional funds. We do not hedge. We have been investing in private equity before, but with the low value of equities on most markets, we have decided to concentrate more on listed equities,” he disclosed.

While describing the NSE as one of the most promising markets globally in terms of returns on investment, Ogbunude commended the Exchange for its enforcement of a new disclosure pattern on quoted companies, adding that the current share prices were a buy signal, which the team was ready to take advantage of.

Other members of the team were James Hancocks and Onyechi Ezekwueche.

Last month, a seven-man team of asset managers, led by Merrill Lynch, had visited the Exchange to pledge confidence in the NSE and in its market potentials.

The team leader of the group, an analyst with Merrill Lynch, Mr. Aleksandar Andjelopolj, said that there were still a lot of opportunities present in the capital market.

According to him, “As a stockbroker, I understand what the markets are going through, and how the crises have affected them, and I want to assure you that Merrill Lynch has shown dedication to bringing investors into this region to invest funds in the market.”

He said that the team believed in the opportunities in the Nigerian market waiting to be tapped into, adding that the visit to Nigeria would bring money into the market.

The NSE, however, assured the visitors of continued improvement in its operations in line with the global best practices.

The Punch: Foreign investors renew interest in Nigerian stocks

[Gengen]

Originally Posted by hispy99

Foreign investors renew interest in Nigerian stocks
By Udeme Ekwere
Published: Monday, 6 Apr 2009

Despite the continued decline of activities in the Nigerian capital market, more foreign investors have renewed interest in the Nigerian stocks.......
......

The three-man team of asset managers from London-based Blakeney Management, paid a courtesy visit to the NSE and the Central Securities and Clearing Systems. Leader of the team, Mr. Obiora Ogbunude, expressed renewed confidence in the market, saying most of the quoted companies were operating optimally and profitably......

The Punch: Foreign investors renew interest in Nigerian stocks

ALL THESE NA STORY!!!

Why all these play-acting to the gallery? Do they have to visit the NSE / SEC before they invest? Do they think Nigerians will remain gullible for ever? People are beginning to doubt all these probably "arranged visits".

As you all know (especially KOD), an "arranged visit" can be made to Obama today from Naija with "prominent peolple" from the Niger delta stating that all is well in the region.

Let us see ACTION, less talk. State clearly that they have invested a specified amount in a specified stock. Then we may try and believe.

[muranay@yahoo.com]

Market closed

Deals: 5,430

Volume: 155,144,501


Value: N1,224,610,497.55

[tonidol]

Originally Posted by Murphy

Yes CSL does have e-dividend form for all the companies they are registrar to in one form. You have to visit their office at PRIMEROSE Towers, 2nd floor near central bank in Lagos. I am not sure this form is available on-line. you or anyone can pick up this form from them.

I have to go to 9ja to pick a copy of e-dividend form. Thanks for the info but when are we going to start making progress in business circles. God help our nation. What does it take for CSL to put a form online. KOD, please enlighten Otunba and Ladi please.

[panej]

Originally Posted by Gengen

ALL THESE NA STORY!!!

Why all these play-acting to the gallery? Do they have to visit the NSE / SEC before they invest? Do they think Nigerians will remain gullible for ever? People are beginning to doubt all these probably "arranged visits".

As you all know (especially KOD), an "arranged visit" can be made to Obama today from Naija with "prominent peolple" from the Niger delta stating that all is well in the region.

Let us see ACTION, less talk. State clearly that they have invested a specified amount in a specified stock. Then we may try and believe.

As a matter of fact; and if possible, they should be encouraged not to visit Nigeria if you want them to invest. A visit to Nigeria by any serious prospective investor will most definitely discourage them unless they will be blindfolded all through the visit (unless they are needed for ransom). No one wants to invest in any place without electricity (and basic infrastructure) which is the simplest thing that can be done with tax payer money or private funding.
ANY ATTEMPT TO SPUR THE ECONOMY OF NIGERIA WITHOUT ELECTRICITY IS A WASTE OF TIME AND MONEY!!!!

[muranay@yahoo.com]

Originally Posted by muranay@yahoo.com

Market closed

Deals: 5,430

Volume: 155,144,501


Value: N1,224,610,497.55

Index closed at 19,962.57 with Capitalization of N4,515,986,929,192.17

We are up by 0.04%

[azob2002]

Originally Posted by muranay@yahoo.com

Index closed at 19,962.57 with Capitalization of N4,515,986,929,192.17

We are up by 0.04%

SLOWLY... but STEADILY... may be, maybe..... with the rally all around the world, there must be some silver linings somewhere in NSE..

[wanaj0]

Originally Posted by muranay@yahoo.com

Index closed at 19,962.57 with Capitalization of N4,515,986,929,192.17

We are up by 0.04%

Sideways trading continues. The market is in need of news to lift it up. Will GTB and Oceanic results provide the necessary lift? Time will tell.

[docjuli]

Finally:

First Bank board approves merger with Ecobank

The Punch: First Bank board approves merger with Ecobank

[zainabusman]

Originally Posted by docjuli

Finally:

First Bank board approves merger with Ecobank

The Punch: First Bank board approves merger with Ecobank

I will not be to quick to say this is a done deal. The story is not that authoratative.

[moneymoney]

Originally Posted by Gengen

ALL THESE NA STORY!!!

Why all these play-acting to the gallery? Do they have to visit the NSE / SEC before they invest? Do they think Nigerians will remain gullible for ever? People are beginning to doubt all these probably "arranged visits".

As you all know (especially KOD), an "arranged visit" can be made to Obama today from Naija with "prominent peolple" from the Niger delta stating that all is well in the region.

Let us see ACTION, less talk. State clearly that they have invested a specified amount in a specified stock. Then we may try and believe.

....I second this motion.

[moneymoney]

Originally Posted by docjuli

Finally:

First Bank board approves merger with Ecobank

The Punch: First Bank board approves merger with Ecobank

...FBN should make sure this doesn't reduce them to RBS.

[despi_dynasty]

Introduction


Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar's role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”[1]


The article continued in stating that, “There is now a world currency in waiting. In time, SDRs are likely to evolve into a parking place for the foreign holdings of central banks, led by the People's Bank of China.” Further, “The creation of a Financial Stability Board looks like the first step towards a global financial regulator,” or, in other words, a global central bank.


It is important to take a closer look at these “solutions” being proposed and implemented in the midst of the current global financial crisis. These are not new suggestions, as they have been in the plans of the global elite for a long time. However, in the midst of the current crisis, the elite have fast-tracked their agenda of forging a New World Order in finance. It is important to address the background to these proposed and imposed “solutions” and what effects they will have on the International Monetary System (IMS) and the global political economy as a whole.

[panej]

Originally Posted by despi_dynasty

Introduction


Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar's role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”[1]


The article continued in stating that, “There is now a world currency in waiting. In time, SDRs are likely to evolve into a parking place for the foreign holdings of central banks, led by the People's Bank of China.” Further, “The creation of a Financial Stability Board looks like the first step towards a global financial regulator,” or, in other words, a global central bank.


It is important to take a closer look at these “solutions” being proposed and implemented in the midst of the current global financial crisis. These are not new suggestions, as they have been in the plans of the global elite for a long time. However, in the midst of the current crisis, the elite have fast-tracked their agenda of forging a New World Order in finance. It is important to address the background to these proposed and imposed “solutions” and what effects they will have on the International Monetary System (IMS) and the global political economy as a whole.

Sir,
You either didn't understand the communique, or you're just being deceptive!!!! I wonder what you would gain from either...

[despi_dynasty]

Originally Posted by panej

Sir,
You either didn't understand the communique, or you're just being deceptive!!!! I wonder what you would gain from either...

Sorry, you do not yet understand. The article is much that I cannot paste all.

[panej]

Originally Posted by despi_dynasty

Sorry, you do not yet understand. The article is much that I cannot paste all.

NO...you don't understand. This is the link to the official communique posted at forbes. Can you tell me how you can come to that conclusion after reading it????
G-20 Communique: Full Text Of The London Summit - Forbes.com

[panej]

Nigeria's Niger Delta Kidnappings Total Nearly 200 Since 2008
By Chinedu Offor
Washington DC
06 April 2009

Nigerian security officials say over 128 persons have been kidnapped by Niger Delta militants since last year – including men, women and children…and both Nigerian citizens and foreigners. Nigeria's inspector general of police, Mike Okiro, says out of that number, one hostage was killed, another had his fingers chopped off and 126 were released unhurt. Okiro warns that more foreigners may be seized in the coming days. But he says the government will further beef up security in the oil-rich region following the militants' rejection of amnesty by President Umaru Yar'Adua.

Obum Cletus is a community leader in the Delta. He says the government grossly understated the number of those kidnapped to score political points. "It is part of the systemic underplay of a very serious national crisis. It still tells us the government's lack of political will to steam down the agitation of the Niger Delta people. One hundred twenty-eight is a highly conservative and highly economical (number), truth to tell, especially coming from the chief security officer of the federation. I think that figure is clearly a political figure that does not represent the true picture."

Cletus says the kidnapping that began in the Delta is spreading to other corners of the country because the authorities have not done enough to solve the problem. "I can give you a figure and tell you that inasmuch as the government admits there is kidnapping and as much as I know coming from this place and on a daily basis, the spread and the intensity of kidnappings and all that in the Delta have reached a figure and a proportion that can no longer be quantified in terms of lives and property.

[Michael]

Originally Posted by hispy99

Capital market committee members want leadership change at SEC, NSE
Monday, 06 April 2009 00:27 BY OUR REPORTER

Several members of the Adedotun Sulaiman committee on the clean up of the Nigerian Capital Market say they do not think the expected reform programme should be implemented by the current leaderships at both the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE). The reform committee set up by SEC’s board of directors last year, turned in its report in February and this was followed by two separate presentations of a summary of the report to SEC’s directors in Abuja.

The committee members who worked on the report are Segun Aganga of Goldman Sachs; Babatunde Ajibade, a Senior Advocate of Nigeria; Lawrence Fubara Anga of Aelex Law firms; Sonnie Ayere, CEO of UBA Global Capital Markets, Yvonne Ike-Fasinro of J.P Morgan and Olutola Mobolurin, CEO, Crusader Nigeria plc. Others are Yusufu Modibbo, CEO of Tiddo Securities Limited; Godwin Obaseki, CEO of Afrinvest West Africa Limited; Albert Okumagba, CEO of BGL plc; Bismarck Rewane of Financial Derivatives Company Limited; Yewande Sadiku of Stanbic IBTC Bank plc; Edo Ukpong of Consolex Legal Practitioners; Bala Usman of the SEC, who acted as secretary of the committee; Hassan Musa Usman of Aso Savings & Loans plc and Francis Essem Wood of FCMB Capital Markets Limited.

At separate interviews with BusinessDay spanning over three weeks, several members of the committee who spoke on the condition of anonymity said although the committee did not expressly recommend a leadership change, this can be easily inferred by reading between the lines. “There was a strong feeling among members of the committee that a good place to start is by having new and trusted leaderships at these key institutions”, said one member of the committee.

“The market has taken such a massive beating and although a good part of this can be attributable to the global economic meltdown, there has always been concern about the leaderships and their conduct. And this concern is believed by many market operators to be the main catalyst. The global economic meltdown merely hastened the crash”, he added.

Another member of the committee said “the changes which we seek for the capital market are far reaching and some aim to clear the mess of the past. If you do not put a new leadership in place before these changes, the credibility issue will continue to hang over the market. And this is a needless distraction”

The leadership of the NSE had hinted at a plan to demutualise the Exchange but a member of the reform committee with extensive international exposure said such a plan must be thoroughly debated by stakeholders and once a road map is agreed, the process should be handed to a new set of leaders to drive. The concept of demutualisation denotes that the NSE will transform from being a self regulatory organisation (SRO) to a public organisation. The process is expected to yield a new organisational structure for the Exchange and will culminate in the listing of the NSE on its own Exchange and other Exchanges.

Demutualisation is the process through which a member-owned company becomes shareholder-owned and is a step toward the initial public offering (IPO) of a company. Insurance companies often have the word “mutual” in their name, when they are mutually owned by their policy holders as a group. In recent years, however, there has been a strong trend for these companies to demutualise, converting to a shareholder ownership base.

By the time the NSE demutualises, its organisational structure would change while the management will be led by a group chief executive officer (GCEO) who will be supported by three executive directors (EDs). The three directorates will be the Compliance and Surveillance, Quotations and Listings as well as Market Operation/ Information Technology (IT).

The current director general of the NSE, Ndi Okereke-Onyiuke, had hinted that she would retire at the completion of the demutualisation process in 2010 but would remain on the board to guide the new leadership for another three years. However, the committee members who spoke to BusinessDay said she does not have to wait till next year.
The reform committee member said: “I have strong reservations against allowing these people at the NSE to stay on. We are talking about the collective wealth of millions of Nigerians and their foreign partners. The debate now should not be whether or not the leadership should be asked to go. They should just go. This way, we can all together begin to rebuild the market and people’s confidence in it”. The committee on the review of “Capital Market Structure and Processes” had in its report recommended an improvement in standards of disclosure, transparency and accountability in the capital market.

Other recommendations by the committee as enumerated by its chairman, Sulaiman, include the upgrading of the international competitiveness of the Nigerian capital market and the need to increase its depth, breadth and sophistication. The committee also suggested the need to enhance efficiency, cost competitiveness, strengthening the participating institutions, as well as regulatory oversight of the capital market. Part of the recommendations also includes an improved coordination between fiscal and monetary regulatory authorities in our wider financial system.

He said that the committee was able to reach a consensus on the future direction of the Nigerian capital market as well as an overwhelming agreement that Nigeria has a realistic chance of achieving a vision to become “a world class capital market that is efficient, transparent, innovative and attractive to investors both local and foreign while contributing to and facilitating the growth and development of Nigerian and African economies”.

The committee chairman who noted that the implementation of the proposed recommendations will not be easy canvassed concerted effort by all key stakeholders will be essential to create a capable market of their vision. He was optimistic, saying “in spite of all the challenges the world faces today, it has become clearer than ever that our ability to create a strong and vibrant capital market is completely inter-twined with our ability to build a sustainable economy.”

PLEASSSSSSSSSE DON'T GUIDE!!