Japaul Oil

[dannynoko]

Originally Posted by spotball

House member i need help, i just got my share certificate and returned cheque. but the problem is that the surname was not properly spelt. i tried calling the number on the certificate but got no response. Kindly advice me on what to do. thanks

I had similar problem with Dangote sometime and they re-issued me with another certificate throgh my brokers. This are the steps to take:
-Find out from your brokers what they completed in your application, if it is your correct names or a mistake from the Registrars. You can then let your brokers with a copy of that apply on your behalf for re-issueance since your application was made through them;or
-If you want to get that resolve by your self, you can get the necessary evidence to backup your demand when you go to the registrar. Evidence could be, the application form or the final tally sheet from your brokers.

I hope this will be helpful. Good luck!

[zubychyle]

finally received my japaul cert and returned money warrant today.

[billions]

Japaul, Nestoil, Peco Petroleum, identified as emerging oil and gas giants
27 August, 2008 02:00:00 Ignatius Chukwu
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Pestoil, Peco Petroleum and Japaul have been identified as new oil and gas indigenous corporations that may replace the multinational giants in the coming years.

Experts noted that this new trend emerged as a result of violence in the oil states and the use of local content policy that have made businesses favourable to indigenous companies.

Investors were told that some indigenous companies have leveraged on the new developments to reposition themselves and now, they are taking over.

The leader of a survey team from ValueCapital, an emerging capital player soon to be listed in the stock market, Sam Enyinnaya, stated that the change in fortune is so dramatic that whereas most indigenous companies used to hang around the multinationals for any fallout, now the reverse is the case.

A top source at the Nigeria National Petroleum Company (NNPC) disclosed that a pipeline rehabilitation job won for $105 million could not be attempted because of violence until an indigenous company won it for a mere $50m and executed it well. This is said to have opened the eyes of top NNPC and government officials who now believe that giving more opportunities to local companies may be a way out of the present distress in the oil industry.

A source at the SPDC (Shell) hinted that dredging jobs which had suffered in the hands of foreign contractors have now been taken over 100 per cent by local companies.

This must be why SPDC is seriously considering handing more responsibilities to Nigerian companies. It was gathered that dredging jobs alone at Shell fetches over $26m every year.

SPDC had hinted it handed out 96 percent of its jobs in 2007 to indigenous contractors.

Bigger jobs however lie in the offshore where fewer Nigerian firms have a foothold. For 2008, the oil majors would spend $15.2 billion, and Shell handles over 50 per cent of oil and gas Joint Venture operations.

It is not clear how much of this would fall into the hands of Nigerian contracting firms but increased local content policies and the new trend may force much of this at home, but local oil and gas companies were staked out as the new wealth points for investors to sink their capital.

Enyinnaya, the managing director of ValueCapital, showed how local content policy in oil and gas including the Cabotage regime has created new companies that would soon replace some influential multinational corporations.

[zubychyle]

pls what's wrong with sterling registrars?
Can you guys believe that my unalloted units refund cheque they sent me bounced, and to add salt to injury i incurred a charge for that. imagine after almost one year of witholding my funds this is what i'm getting. i'm really livid with rage, if only i could see one of their employee to offload my anger on.

[prince dagbolu]

Under the Nigerian Banking Law. I read that it is wrong for your Bank to Charge you in this circumstances. It is not your fault that the cheque bounced. So send a complaint to your bank. Also check that the cheque you paid into your account was not issued over 6 months ago. If it was issued over 6 months ago then it is no longer valid. They have to issue you a new cheque.

[zubychyle]

Originally Posted by prince dagbolu

Under the Nigerian Banking Law. I read that it is wrong for your Bank to Charge you in this circumstances. It is not your fault that the cheque bounced. So send a complaint to your bank. Also check that the cheque you paid into your account was not issued over 6 months ago. If it was issued over 6 months ago then it is no longer valid. They have to issue you a new cheque.

It was issued on the 23rd of june, so i wouldn't understand why it should bounce. anyway i'll follow it up appropriately.

[hispy99]

Originally Posted by prince dagbolu

Under the Nigerian Banking Law. I read that it is wrong for your Bank to Charge you in this circumstances. It is not your fault that the cheque bounced. So send a complaint to your bank. Also check that the cheque you paid into your account was not issued over 6 months ago. If it was issued over 6 months ago then it is no longer valid. They have to issue you a new cheque.

Don't know about the law you are referring to, but as far as I know, the bank has not done anything wrong. You presented a check that had could not be paid based on lack of funds. It's not the bank's fault that the registrar's check bounced. Even in the states here, the check will bounce and you will be charged for it.

[Avocado]

Any banker familiar with operations here?

I'll think it's strange for you to be charged; Sterling Registrars should be the ones to be charged a fee because they issued a dud cheque. I'll suggest you call your bank. In the case of a returned money warrant, (and of course Sterling Registars; Gboyega Babalola is the MD; his number was posted earlier on this thread) the case should be in your favour.
.

[zubychyle]

Originally Posted by Avocado

Any banker familiar with operations here?

I'll think it's strange for you to be charged; Sterling Registrars should be the ones to be charged a fee because they issued a dud cheque. I'll suggest you call your bank. In the case of a returned money warrant, (and of course Sterling Registars; Gboyega Babalola is the MD; his number was posted earlier on this thread) the case should be in your favour.
.

thanks mate,
i'll really follow this one up seriously. it's actually a criminal offence to issue a dud cheque, so based on that premise we'll be see how it goes.

[hispy99]

Originally Posted by Avocado

Any banker familiar with operations here?

I'll think it's strange for you to be charged; Sterling Registrars should be the ones to be charged a fee because they issued a dud cheque. I'll suggest you call your bank. In the case of a returned money warrant, (and of course Sterling Registars; Gboyega Babalola is the MD; his number was posted earlier on this thread) the case should be in your favour.
.

Except the rule has changed in the last 6 years, banks (at least my former bank) used to charge a customer a fee for presenting a check that bounces. You might think it's unfair since the customer has no way of knowing the party that gave him the check has money in his/her account. However, the bank also has no recourse to the issuer of the check and they must recover their clearing costs from someone...and that someone happens to be the presenter of the check.

[zainabusman]

Originally Posted by hispy99

Except the rule has changed in the last 6 years, banks (at least my former bank) used to charge a customer a fee for presenting a check that bounces. You might think it's unfair since the customer has no way of knowing the party that gave him the check has money in his/her account. However, the bank also has no recourse to the issuer of the check and they must recover their clearing costs from someone...and that someone happens to be the presenter of the check.

I think the rule was changed a bit. The bank of the issuer of the cheque would charge the issuer for issuing a dud cheque. What i cant remember is whether the charge is both ways. The issuer will definetely be charged.

[Gbike]

To the best of my knowledge and under normal circumstances, the presenter of a bounced cheque just gets the cheque returned to him/her unpaid without any charge to his/her account. It is the issuer of the cheque that is penalised for a bounced cheque. But if howvever the presenter of the cheque had already initiated a transaction in any way on his/her own bank account against the assumption that the cheque that was presented would clear to cover the transaction but this doesnt happen, then the presenter of the cheque would be penalised for insufficient fund to cover an outstanding transaction.

Meanwhile my people on a different note, if una find small time make una give me small advice for flourmill posting and stockbroker posting. Make una no vex say I carry my wahala pursue una come japaul place

[Gbike]

On japaul I forgot to mention to the forum that I didnt get my own certificate from the original PO. When I went to their office for some explanation they told me I had to wait at least 6 months before they can begin to treat it as a lost case. Now 6 months had ellapsed and I revisited them and they issued me with an indeminity form and explained the protocols involved police report, sworn affidavit, signed copy of my cscs account etc. when I return all this documents they would now accredite the stock direct to my cscs account. The process had caused me over =N= 6000 so far. Am I alone in this or is there others with similar experience?

[Moruf]

I also received a cheque for my Japaul refund, paid it into my bank early last week but was returned uncleared last Friday. Could someone please provide me with a name and contact information of a someone I could contact at Sterling Registrars. Thanks.

Moruf

[Gbike]

Read through the previous postings on this thread you would find the information you need. Hopefully I hasten to add you might be able to speak to the MD of sterlin registrar. I would be keeping my fingers crossed for you.

[tonidol]

Originally Posted by Gbike

Read through the previous postings on this thread you would find the information you need. Hopefully I hasten to add you might be able to speak to the MD of sterlin registrar. I would be keeping my fingers crossed for you.

Wetin dey happen for naija, how can a registrar be giving bounced cheque. We are talking of refunding money paid for investment and which has been held for months and still returned with problems. I weep for my nation sho