I need to sell my shares urgently

I have shares with FirstBank, Daar Communication and FCMB since 2008 and I need to sell these shares to start a good business. But I dont know how to go about that and I no longer my stock broker again. Please advise me on what to do.  (Prince Oghenero Onorefe, Warri)

Investors  Forum

Have you verified the certificates? If no, you have to take the certificates to your stockbroker for verification. It might take three to five months but without verification, you cant sell the shares. If you have verified the certificates and your stockbroker has created CSCS accounts for you, and he is claiming that he has not sold it, apply to CSCS to verify if the account has indeed been created and if the shares are still in the account.

Excessive ATM charges by FirstBank

Sir, I have a Savings Account with FirstBank, and through me, my wife, colleagues, dependants, and close friends also opened accounts in the same bank. Whenever I use the bank’s ATM to transfer funds from my account to theirs, I am charged N100, even though both accounts are savings and in FirstBank. Now I wonder why this criminal act should be allowed by customers and regulatory authorities when we are being forced to transact via ATMs. I am thinking of closing all the accounts. What do you advice? Please kindly use your good office to bring this injustice to public notice. Thank you.

Investors  Forum

To the best of our knowledge ,the bank is not supposed to charge for such intra-bank transactions. Go to the website of the bank to get the phone number of its contact center to make a formal complaint. Otherwise you can send a complain to the bank’s headquarters. If you are not satisfied with their explanation, you may reconsider your relationship with the bank.

I need information on my stockbrokers & Nigeria Brewries

In July 2004, I purchased 800 units of UBN at N38.80 per unit which was assigned CSCS no.C669655EF and Account no. 45606317. This was purchased through BSD Securities Ltd which has since gone into oblivion as I could no longer trace them. Also in April  2005, I purchased another 400 units of UBN and 4,500 units of the then Oceanic Bank International with assigned CSCS no.C813975EF and Account no.28995773. This was purchased through Consolidated Investment Ltd with whom I have lost contact with as well. Kindly assist me locate the current addresses of these stock-brokers (BSD and CIL) so that I can start benefiting from my investment in the above companies.

Even recently too, for about two years now, nothing has been forthcoming from Nigerian Breweries Plc. What is happening? (Erusiafe John)

Investors Forum

We suspect foul play, especially if you have not received dividend from the companies since the stockbroker bought the shares on your behalf, We advice that you first go to CSCS and ascertain the validity  of the CSCSC accounts created for you. It will confirm if shares were indeed purchased as claimed by the brokers.  Meanwhile, investigations show that BSD Securities merged with Intercontinental Securities (located at Plot 1686 Oladele Olashore Street Off Sanusi Fafunwa Street Victoria Island). The contact of  Consolidated Investment Limited is: Bishop Oluwole Street, Victoria Island, Lagos: Tel: 234-01-614463; 615382; 2623329).  The registrar of Nigeria Breweries is First Registrars and the contact is Plot 2 Abebe Village Road, Iganmu or  all 08033018295, 08191410456

I am yet to get ETI shares for Oceanic Bank

Please I bought N500,000 worth of Oceanic shares in 2008. ETI bought Oceanic over and till now, it has not reflected in my CSCS account. What am I expected to do since my stockbroker feels indifferent about it. (Ayotunde)

Investors Forum

Please contact the registrar of ETI. The registrar is ESL Registrars Ltd, and its contact is 16/A Rauf Taylor Close, Off Idego Street, Victoria  Island, Lagos. You may also call an official of the bank on 08023877699