I need update on Daar Communications

I need update on DAAR COMMUNICATION.  I bought DAAR Communication Shares and have received my shares’ certificate in 2OO7 but have neither received dividends or bonus.  Has the company been liquidated? (Sunday Okpo)

Investors Forum

The company has not been liquidated. It is still operating but since its public offer, it has not declared dividend or bonus.

What is the update on Nigeria Tobacco Company?

I want you to help me find out the whereabouts of Nigeria Tobacco Company plc (NTC),  I am a shareholder with the company, but for many years now I have not heard from them.I want to know if they are no longer listed on the floor of the Nigerian Stock Exchange.   (IKPEKEME CHIDI BAMIDELE, SURULERE)

Investors Forum

The company merged with British American Tobacco (Nigeria) Company in 2000. The company is now a fully owned subsidiary of British American Tobacco Group. For further information contact Dayo George on 01- 4617500-2

No dividend from Nigerian Hoechst Plc

I bought 500 shares with Nigerian Hoechst Plc including the bonus, as at 1996 share certificate. I have not received dividend from the company till date, Please help!

Investors Forum

The company is now known as Nigeria German Company. For update on your shareholding and outstanding dividend contact City Securities  Primrose Tower, 2nd Floor, 17A Tinubu Street, Lagos. Tel: 234-1-2641298, 234-1-7924462.

No communication  from Sterling Bank

Pls may I know my status on my investment in Sterling Bank Plc. Since 2/7/07 I bought 23,500 units through  my broker Pinefields Investment limited with N200,000 with a/c no 87869263. But I have not received information from the bank since then. Please help me before I die. (George Chinenye Anthony, Aba)

Investors Forum

Sterling Registrars Limited  at Knight Frank Building (8th Floor) 24 Campbell Street, Lagos. Tel: 234-01-2635607.

No communication from SpringBank

I bought 25,000shares from SpringBank   Plc in 2005 but till today I have not heard from the Bank. Now I want to sell the shares. What should I do? (Oduh David Diamond).

Investors Forum

The Bank has been closed by Central Bank of Nigeria. Its  assets has been sold to Enterprise Bank. The implication is that there is no more Spring Bank, and all shares in the bank have been lost.

Wema Bank should reverse this wrong ATM debit

I used my Wema Bank ATM to withdraw N20, 000 using UBA machine on the September 3rd and was debited without being paid. I have complained to my bank and till date my money has not been reversed. Please help me because am tired of they will reverse it and I don’t know whom to complain to again (Adejoh Ameh).

Investors Forum

Write a formal complaint to the Managing Director of Wema Bank and copy the manager of the branch where your account is domiciled. If after three weeks, the bank does not respond, forward the letter to [email protected] .

Proceeds of share sale should be paid into shareholders account

Why is investors’ money especially from sales of stock not paid to their personal bank accts to save them from brokers frustrating cum obnoxious tactics?  (Agada Moses Egbodor)

Investors Forum

Good question. It is paid into the broker’s account because it is stockbrokers that do the trading and selling on the stock exchange. It is for the same reason that if you want to buy shares, you first pay into the account of the broker, and not to the account of the shareholder selling the shares. In summary, on the stock market, brokers trade with each in the name of the company. Thereafter they distribute what they have bought or proceeds of what they have sold to the shareholders who asked them to sell or buy shares.