CF Extends Membership Expiration to 2009

Clubfreedom has just announced the extension of existing member’s membership expiration to September 1st, 2009.

imoisilis.com congratulates the new Management of CF for this new stand.

Recall our earlier post complained about the "renewal" clause introduced by the company as a prerequisite for the new reward plan in October, 2008.

We welcome this new development and see it as a strong motivation especially to the existing member who had lost hope with the company under the former Management.

For us, this is a wakeup call to all existing members to pick up their CF marketing kits and hit the road again to financial freedom.

Please don’t hesitate to join now, follow this link: www.clubfreedom.biz/simoisili to your financial freedom!

Please see excerpts of the mail below.

Clubfreedom Listens To Its Members!

After careful thought and consideration and LISTENING to our VALUED members, we have made a MAJOR decision that affects ALL members!

Yesterday, we announced our NEW REWARDS PROGRAM that will launch on the 1st of October, 2008. This new system offers a chance to our members to earn more than THREE TIMES what our current system offers.

Here’s the good news folk, the owners of Clubfreedom are willing to invest the required funds to launch this NEW REWARDS system and there will be no membership renewal required for at least 12 months. That's right, they are willing to incur a SUBSTANTIAL short term loss in order to keep our members happy!Here's a reminder of the NEW REWARDS PROGRAM

You spoke and we listened! Effective immediately, we are extending the expiry date of all Clubfreedom memberships that were purchased prior to 1st September, 2008.

Important Details of the Changes:

• All Clubfreedom memberships that were purchased prior to the 1st of September, 2008 will now expire on the 1st of September, 2009.

• All members that joined Clubfreedom after the 1st of September, 2008 will have a 12 month expiry date. In other words, if you joined on the 2nd of September, 2008, your membership will expire on the 2nd of September, 2009.

• As of the 1st of October, 2008, new Clubfreedom memberships and renewals will now be $250 USD.

• As of the 1st of October, 2008, all new rewards will be paid to a NEW wallet system.

Keep These Facts in Mind For Next Year:

• Any memberships that are not renewed by their expiry date will be deleted when the board this member is on splits. All personally sponsored members in the downlines of this deleted member will be moved to the nearest upline member with a paid membership. If a member with an expired membership is at the top of his board when the board splits, he will NOT be eligible for advancement rewards and will be automatically deleted from the system. Once a member is deleted from the system, they will NOT be replaced back into the system under any circumstances.

• The new expiry date of your membership will be listed on the Home Page of your Clubfreedom member’s area in the next few days.

• There will be a renewal link in your member’s area when it is time for you to renew your membership.

We are very excited about the changes to the rewards program.

We want OUR MEMBERS to be happy!

We are looking forward to seeing many members earning MORE REWARDS!
The potential earnings are life changing!

Clubfreedom Back with New Reward Plan!

For all existing Clubfreedom members, Clubfreedom is increasing its payout again this time to more than what imoisilis.com previously advised the former Management headed by Michael Faust to do back then. Please see: http://www.imoisilis.com/2007/11/our-views-on-clubfreedoms-new-reward.html

The travel club is introducing the new reward plan from 1^st October 2008. With what I have read so far, the reward is a welcome idea and by far surpasses any other MLM I have participated in.

Come October 2008, the new board system will comprise of 3 boards namely:

1. STAGE 1 -  FEEDER BOARD

Intending members will register with $250 to come on board in this stage and receive $250 when they qualify to Stage 2.

2. STAGE 2 - NEW LIFE BOARD

Total Payout in this stage is $5,500 cash reward, comprising of $3000 for cyclers and a progressive $250 for each level climbed and extra $250 each for members whose downlines cycle from STAGE 1 to level 1 in this stage.

3. STAGE 3 - TRAVELLERS BOARD

The total payout in this stage is $17,500 cash reward comprising of $15, 000 for Travellers and a progressive $250 for each level attained and extra $250 each for members whose downlines moves from NEW LIFE BOARD to reservation (Level 1 in Traveller’s board), plus a $5,000 travel voucher.

Bringing the total payout to $23,250 (For all the stages)

However, typical of CF, there are conditions to attached to the new reward plans. For example, all existing members over 1 year and above will have to renew their accounts or risk losing their current position and having their downlines moved to their renewed upline when the board splits after October 1^st 2008.

The cost of renewal is $200 before October 1^st 2008 and $250 after then.

Please go through the conditions below:

• All Clubfreedom memberships that were purchased 12 months ago or longer will expire on the 1st of October, 2008.

• Members will have until the end of September, 2008 to renew their expiring memberships at the current membership cost of $200 USD.

• On the 1st of October, 2008, new Clubfreedom memberships and renewals will now be $250 USD.

• Any expiring memberships that are not renewed by the 1st of October, 2008, will be deleted when the board this member is on, splits. All personally sponsored members in the downline of this deleted member will be moved to the nearest upline member with a paid membership. If a member with an expired membership is at the top of his board when the board splits, he will NOT be eligible for advancement rewards and will be automatically deleted from the system. Once a member is deleted from the system, they will NOT be replaced back into the system under any circumstances.

• The expiry date of your membership is listed on the Home Page of your Clubfreedom member’s area. 

• As of the 1st of October, 2008, all new rewards will be paid to a NEW wallet system.

 To read more about the new reward plan and how it works, please follow this link: http://www.clubfreedom.biz/new_rewards.html

If you are a current CF member, please check your e-mail for the latest CF update or alternately log into your CF account and click CF rewards.

Note that existing members will have to agree to the new terms of condition spelt out by CF, my guess as a result of the challenges faced earlier on roll out.

imoisilis.com is interested in knowing how current CF members view this reward plan. Lets hear what you think about this by dropping your comments below.

To join Clubfreedom, please follow this link: www.clubfreedom.biz/simoisili

Have a lovely weekend.

FirstBank Pays N24bn Dividend, Appoints New Director

The lull in the capital market notwithstanding, First Bank of Nigeria Plc has paid a N24 billion dividend at N1.20k per share, for the financial year ended March 31, 2008. This, the bank believes, is to reaffirm investors’ confidence in its ability to create value and keep faith with its promise to shareholders.

The total dividend payout, the largest in the history of Nigeria's banking industry, is almost enough to get a new banking licence – going by the N25 billion minimum shareholders’ funds requirement.

The bank has also declared a bonus of one share for every four shares previously held before the close of the shareholders’ register on August 08, 2008. At the Annual General Meeting (AGM) held yesterday at the Transcorp Hilton Hotel, Abuja, shareholders poured accolades on the bank while expressing their satisfaction with the “continued impressive performance”.

The bank's total assets and contingents grew by 65.8 per cent to over N2 trillion, while profit before tax grew by 85 per cent to N48 billion. The Annual Report and Accounts presented at the AGM, in line with the bank’s industry defining posture on corporate governance, contained a detailed and explicit dedicated section on risk management disclosure, described as unprecedented in this market. In terms of shareholders’ funds, FirstBank also consolidated its leadership position in the industry with an increase of N272.1 billion or 325.2 per cent from N83.63 billion to N355.63billion, which is higher than the shareholders’ funds of all the 89 pre-consolidation banks put together.

This stellar performance, according to the bank, is driven by an all-inclusive understanding of the growing customer service realities, and the elimination of impediments to effective service delivery through continued network expansion, product development, and strengthening of its global footprint.

Meanwhile, the Board of the Bank has approved the appointment of Ms. Ibiai Ajumogobia, a seasoned human resources technocrat, to its board, effectively replacing the eminent academic, Dr. Udo Udo Aka (MON). This is coming barely two weeks after the announcement of Mr. Sanusi Lamido Sanusi, the Executive Director, Risk and Management Control, as the new Managing Director/Chief Executive to take over from Mr. Jacobs Moyo Ajekigbe, the incumbent MD/CEO who is retiring from the Bank after 31 years of services to the Bank.

The Chairman of the Bank, Alhaji Umaru A. Mutallab (CON), formally introduced Ajumogobia and Sanusi to shareholders at the AGM.

Ajumogobia is a Human Resources Management and Training Consultant with over 18 years of core Hr experience at the Senior management level in the large corporate private sector. With a background in Law and Interior Design, she worked first in the Rivers State Ministry of Justice and subsequently in the Federal Ministry of Justice before she joined the Shell Petroleum Development Company of Nigeria Limited (SPDC), where she moved through a range of HR roles, gaining extensive experience of Recruitment, Training Needs Analysis (TNA), Manpower Planning and Development, Policy Development and Employee Relations as well as Change Facilitation and HR Project Management. Whilst in Shell, Ms. Ajumogobia became a certified Change Facilitator, and was the company's Change Focal Point in the Eastern Division.

After 12 years with Shell, she left to join a major international banking institution – Citibank Nigeria, a subsidiary of Citigroup. She was the Country Head of Human Resources covering Nigeria and overseeing the Rep Office in Ghana. She stayed with Citi for just over four years and left the organisation in December 2003. In June 2004, she incorporated The Daisy Management Centre Limited and opened formally for business in December 2004. A private 12-Room Residential Management and Training Centre, The Daisy offers facilities for training, conferences, seminars and meetings, as well as Business Class guest rooms for business guests and residential programmes.

Ms. Ajumogobia recently joined the Team-building network in the United Kingdom and is an accredited team-trainer, certified to use the Margerison-McCann Team Management Profile. She is also a Member of the Chartered Institute of Personnel Development (CIPD) and recently completed the Management Development Accreditation Programme with the Centre for Management Development (CMD) in Lagos.

Many financial analysts see the past year as “industry-defining and revolutionary” for the bank as it continues to set the pace in the industry with landmark initiatives which re-affirms its leading position in the financial services industry in particular and the nation in general. For instance, in February this year, the Bank made history on the floor of the Nigerian Stock Exchange (NSE), when its market capitalisation closed at N1,039,254,191,332.50k, thus making it the first Nigerian financial institution, and indeed, the first quoted company in Nigeria, to hit the N1 trillion mark. In keeping with its strategic intent of being a global player, the bank inaugurated its FBN Bank UK Paris Branch, thus making it the first Nigerian bank to have a presence in mainland Europe (that is, outside the United Kingdom). As part of its pioneering initiatives, the bank also launched a self-service bureau de change product, the FOREX ATM, essentially for converting foreign currency to naira, the first of its kind in the Nigerian financial services industry.

Also, in recognition of recent adverse global trends in the agricultural sector and the need for timely intervention to safeguard the food security of the country for national development, FirstBank single-handedly sponsored and co-initiated along with the Nigeria Economic Summit Group (NESG) and Agro-Nigeria the International Conference on Food Security. The bank is engaging the executive and legislative arms of the Federal Government with the output of the deliberations for policy formulation. In a statement by the bank’s Head, Corporate Planning & Group Coordination, Mr. H. O. Bakare, FirstBank says it believes “these various initiatives and the bank’s strategic approach to running its business have facilitated its continued growth and ability to delight shareholders”. The changes in the Board and the continuous re-invention fit perfectly into ensuring that FirstBank remains dependably dynamic as well as maintaining leadership in the increasing challenging operating environment, he added.

Courtesy... THISDAY Newspaper

First Registrars notifies investors on 17 offers of firms

Head, Finance & Accounts of the company, Niran Adetunji disclosed that First Registrars is ready to package an indemnity to investors who had not yet received their share certificates from the recent offers handled by it for their various client companies.

"For those who have not yet received their share certificates for the various companies we have handled their offers as Registrars, they should send a formal letter and we would package an indemnity for them within seven days and issue them the duplicate" he said.

A list of the companies as published in First Registrars notice to investors in about 10 newspapers Adetunji told Proshare in Lagos, include ARM Aggressive Growth Fund, Platinum Habib Bank Plc (Bank PHB) Costain West Africa Plc, DEAP Capital Management and FBN Heritage Fund offers of 2007 respectively.

Others are Fidelity Bank Plc’s 2005 offer and 2007 Rights/offer respectively, First Bank of Nigeria Plc’s (FBN’s) 2003 Rights and 2007 Rights/offers respectively.The list also include StanbicIBTC Ethical Fund offer of 2005, StanbicIBTC Bank offer 2005, Kakawa Guaranteed Income Fund offer 2007, Oando Plc’s Rights/offer of 2004.

There are also the Oasis Insurance Plc’s Rights/offer of 2007, Prestige Assurance Plc’s and Standard Alliance Insurance Plc’s offers of 2006 respectively and the IBTC Guaranteed Investment Fund offer of 2007.

He maintained that First Registrars would reissue physical share certificates or direct crediting to the investors Central Security Clearing System Limited (CSCS) accounts; if furnished and indicated while filling the indemnity form.

...Courtesy of ProShare News

Holidays and Cash- Michael Faust's New Plan

Please find below an e-mail, I received from one of my contacts as a confirmation of Michael Faust new plan. The plan which will launched formally on July 1st in Australia, is a Binary MLM called Holidays and Cash, with weekly payouts in Euros depending on individaul performance. It is different from the board matrix system a lot of us are currently used to.

The registration fee is €200 and that includes €50 for a special debit card that can be used anywhere in the world.

Payments can be made via wire transfer or through the debit card which can be funded by e-gold, c-gold, e-bullion etc.

You can learn more about it by clicking this link: http://www.solutionminded.com/editor/assets/online_room.html to access the powerpoint presentation of the new plan, or mail me (imoisilis@yahoo.com) to have the slides mail directly to you.

Hello,

It's incredible. Every day we get more and more people from around the world getting excited about HolidaysandCash.com and wanting to participate in the incredible rewards programon offer!

People who were million dollar earners in this type of business, people who were critics and skeptical of other businesses like this, and people who are totally new to the concept, are all anxiously awaiting our launch date of July 1.

Please go to http://www.solutionminded.com/editor/assets/online_room.html to access PowerPoint Presentations, downloadable flip chart presentations, details on live online presentations I am hosting, and much more!

Next live online events are this Wednesday evening 8.00pm Sydney time (AUS) and 8.30pm London GMT time. I will be going through the Rewards Program in more depth so please take an hour out to learn all the ins and outs of this exciting new program.

P.S. In order to ensure we have all our systems fully tested we are going to put off the release of the pre-launch site and just wait until July 1 for the soft launch.

Keep getting the word out using the promotional tools we have done up for you in the mean time.

Regards

Michael Faust
President & CEO
HolidaysandCash.com

"Who says you can't work and play!"

Let HolidaysandCash show you a new way of living...travel, money and time!

Still on SEFTEG

Please find below a copy of the directive given by the Liquidator of SEFTEG Nigeria Ltd, IJEWERE & Co. (Tax Consultants). Submission of documents is still opened.

SEFTEG NIGERIA COMPANY LIMITED (IN LIQUIDATION) 04/02/2008 IN THE FEDERAL HIGH COURT OF NIGERIA HOLDEN AT LAGOS SUIT NUMBER FHC//L/CP/1133/2007

ADVERTISEMENT OF COURT APPOINTED LIQUIDATOR FOR THE WINDING UP OF SEFTEG NIGERIA COMPANY LIMITED (IN LIQUIDATION)

Pursuant to the order of the Federal High Court, Lagos, presided over by his Lordship, Honourable Justice P.A. Olayiwola dated 4th February, 2008, I Emmanuel Itoya Ijewere of Messrs Ijewere & Co. (Chartered Accountants), No. 106/110, Lewis Street, Lagos has been appointed by the court as the PROVISIONAL LIQUIDATOR for the purpose of conducting the proceedings in the order made by the court on the 4th February, 2008 against SEFTEG NIGERIA COMPANY LIMITED (IN LIQUIDATION) RC 696744 whose registered address is at Plot 1661, Oyin Jolayemi Street, Victoria Island, Lagos.

All debtors of the company are hereby directed to deliver their payments to me at my office address stated above.

Also, all creditors of the company should forward their claims relating to and connected with the company to me, containing the following;

1. Names, addresses (postal/residential and e-mail) and Telephone numbers of investors
2. Copy of passport page of international passport, drivers’ licence or national ID Card
3. Photocopies of Deposit slipsiv.Evidence of all payments received from Sefteg Nigeria Company Limited (In Liquidation) to date (if any)
4. Evidence of next of kin presented to and recorded by the Company.

All past or present officers who are in possession of any asset of the company are equally directed to surrender same to the Liquidator forthwith.

Submission of claims can be done using the following medium:

i)electronically at the following e-mail address: mailto:sefteg@ijewere.com
ii) by post at P.O.Box 8713 or
iii) hand delivered at 106/110, Lewis Street, Lagos.

Please note that all payments, assets and claims should reach the Liquidator within two (2) weeks of this publication.

All deposits, cash and other liquid assets in the custody of any bank and other financial institutions for and on behalf of the company should be held until further instructions from the Liquidator.

NB: For further information, please check our website, www.ijewere.com.

Depositors who have formed associations can also present their claims through the leader of such associations, e.g. SEFTEG Investors Forum.

Information would also be posted on our website from time to time for ease of correspondence between the liquidator and stakeholders in the Company.

SEFTEG Nigeria Ltd - LIQUIDATED!

• IJEWERE & Co. appointed Liquidators.

SEFTEG Nigeria Ltd, have been liquidated based on a filed suit number FHC//L/CP/1133/2007 in Federal High Court, Lagos.

The presiding judge, Honourable Justice P.A. Olayiwola liquidated the company on 4th of February 2008 and appointed IJEWERE & Co. Tax Consultants as Liquidator of the high yield investment company.

Information gathered from IJEWERE & Co. (according to Adeniyi Olubiyi AdeOnojobi of http://wonderbanks.blogspot.com/) is that, the defunct SEFTEG Nigeria Ltd had lots of investment in Capital market like Stocks and Properties and have advised all creditors (i.e. Investors as at the time the company was functional) to come to their office on No. 106/110, Lewis Street, Lagos-Island, Lagos, with the following documents.

Required Documents:

1. Names, addresses (postal/residential and e-mail) and Telephone numbers of investors
2. Copy of passport page of international passport, drivers’ license or national ID card
3. Photocopies of Deposit slips used to make payment.
4. Evidence of next of kin presented to and recorded by SEFTEG Nigeria Limited.
5. Evidence of all payments received from SEFTEG Nigeria Limited to date

Documents can be or sent via post to IJEWERE & Co, P. O. Box 8713, Lagos, Nigeria or via e-mail to sefteg@ijewere.com

Imoisilis.com has confirmed this development with IJEWERE & Co. and was also informed that the verification exercise is still on.

Whats Up With Michael Faust?

News just reaching me now has it that Michael Faust, former Clubfreedom Sales Director is up to something new. The cat I hear will be let out of the bag on July 1st. 2008.

Meanwhile, yours truly is up and snooping around for more info. Stay tuned...

The Laws Of Gold - By Reuben Abati

Good morning. Today I stumbled on a 5-year old article in my archive from one of Nigeria's most intellectual writers and Chairman, Editorial Board of The Guardian Newspaper, one of the leading print media in the country, my mentor, leader and clear minded social writer, Dr. Reuben Abati.

The article published in The Sunday Guardian of September 21st 2003 is a master piece any time.

Please read on as the great intellectual gives us his opinion on wealth creation and "get rich quick syndrome" craze in the country...

The Laws Of Gold By Reuben ABATI

I have been reading a number of books about how to get rich, and become wealthy. I confess that I have been doing this out of curiousity, not necessarily because I am envious of the rich and their good fortunes. What has happened is that of late, so many friends and acquaintances have been recommending these books to me as worthy of critical attention. I have in fact seen so many persons clutching the books so close to their hearts. They are best sellers. It is difficult to get anyone to lend them out, at least two of them which are being promoted as if they are the last words on wealth creation. I have four of such books, each one purporting to focus on that which nobody teaches in formal schools. They can be divided into two categories: the ones dealing with the subject from a secular perspective, namely George S. Clason's The Richest Man in Babylon, and Robert Kiyosaki's Rich Dad, Poor Dad. The second set deals with the subject from a spiritual perspective: Sam Adeyemi's Parable of Dollars, and Tunde Bakare's Operating in High Finances. Adeyemi and Bakare are both well-known Pentecostal pastors in Lagos, shepherding the Daystar Christian Centre and the Latter Rain Assembly respectively.

In a country where anti-intellectualism is worn like a garment and the reading culture is low, and embarrassing, it is instructive that certain books are making the rounds and engaging the attention of the wannabe middle class. The success of these books, in both their original and pirated forms with the Nigerian reading public is understandable. We live in a monetised society. The man or woman of means is king or Queen. There is so much poverty in the land, that any man or woman who can boast of more gold than his neighbour is accorded greater respect and attention. Money gives you voice, it confers status; it conveys the impression also of both wisdom and genius. A rich man can hire and fire. He can if he so wishes steal the king's wife.

This is perhaps an eternal truth, but the crisis in the Nigerian society is that getting rich, amassing wealth has become an end in itself, indeed the superior normative value of existence. Popular attitudes bear out the extent of the truthfulness of this assertion. Musicians praise the rich and ignore the poor. Every weekend, Nigerians live conspicuously by putting their wealth on display either through showy finery or outlandish parties. Social iconography is all about being rich. Television and other cultural images, both local and imported, support the feeling that being rich is only a short distance from heaven. In local communities, there are sayings and attitudes, which confer undue privileges on the man of means. A rich man is not ugly in the imagination of the public: his wealth makes up for his physical limitations; the rich are never too young, their wealth buys them the advantages of age; a rich man is never considered foolish, he can always buy intelligent people and turn them into his slaves.

This increasing obsession with riches in Nigeria has not been helped by the emergence and popularity of the group of churches referred to as the Pentecostal Churches. For a long while, cultural romanticisation of wealth was done at the level of extrapolations from known images and idioms. I have heard people throw the titles of James Hardly Chase's novels at me: "What's Better Than Money?", "A Whiff of Money", "You are Dead without Money". Or such local sayings as Ezego, Akueze, Egoka, Oho ego k'egoli or in Yoruba: Owonikoko, Olowolagba, Olowolayemo, Owo a pe kanu ko; Owo ko si eniyan ko sun won. I won't bother with the translations, but each of these draws attention to the value and weight of money, except that they are often applied to current circumstances in a de-contextualised and culturally misleading sense. For there is no African community in which money is traditionally considered an end in itself. What has happened in the emergent mythologisation of riches, and the Pentecostalisation of the search and desire for it is that passages of the Bible are isolated and wielded as evidence that God's purpose is for men to be rich. Hence, the gospel of prosperity is based on the slogan that "poverty is a curse", "money answereth all things", "the poor have nothing to lose but their poverty"; "the rich man's wealth is his strong city: the destruction of the poor is their poverty.", "the rich ruleth over the poor"; "wealth maketh many friends; but the poor is separated from his neighbour;" "all brethren of the poor do hate him.."; "...the poor man's wisdom is despised, and his words are not heard". Every Sunday, many of our compatriots flock to the new generation churches to hear messages of hope about the possibility of escaping the poverty trap. The traditional churches where the congregation is perpetually told that "the poor shall inherit the earth..." have lost many members who are convinced beyond any reasonable doubt that this is a misinterpretation of God's true purpose for his creation.

Those who have recommended the four books in question have had cause to preach some of these doctrines to me. They are convinced that if I master the ideas, I can become a rich man too. One of them threw a Yoruba expression at me: "Owokoniran" to suggest that nobody brought riches from heaven, it is not the peculiar right of any family. "Doctor, you know you too can be rich." This is said with so much conviction I can almost see myself swimming very soon in an ocean of riches, surrounded by gold. One of the open persuaders in fact told me that the recommendations in Rich Dad, Poor Dad have transformed his life. Is he rich? He lives in a rented apartment, works for another man, drives a second hand car, struggles to buy GSM phone cards; he is nevertheless convinced that he has found the key to riches. If reading a number of books can make a man rich, why not try it too? This is the story then of how I finally settled down to the task of absorbing the advice that may turn me into a rich man, with plenty of gold.

George S. Clason's The Richest Man in Babylon is such a tantalising book, meant to fire the imagination of anyone who comes in contact with it. We are told that over two million copies of the book are in print. It is a book about "the success secrets of the ancients: the most inspiring book on wealth creation ever written." Wonderful. I opened the book. And I am told: "lo, money is plentiful for those who understand the simple rules of its acquisition." Essentially, The Richest Man in Babylon is constructed in form of conversations, personal testimonies, seminars, between the richest man in Babylon, Arkad, his son, Nomasir, and others: poor men seeking to become rich, poor men who have already become rich, all sharing their ideas and experiences about how to make money, keep money and turn money into wealth. The setting is Babylon, a man-made city-state that was rich in treasures; the land of dreams and possibilities. George Clason links his narration with the modern times by providing evidence that the story is indeed true and that it had worked for a certain Professor Alfred Shrewbury. The basic thesis of the book is that like the rich men of Babylon, any man can become rich. Wealth is not a function of good luck; it requires determination, the management of finances and debts, and the understanding and rigorous application of the FIVE LAWS OF GOLD as taught by Arkad to Nomasir, his son and as applied by the rich men of Babylon who managed to build wealth from rather humble beginnings.

The first law: Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. The second law: Gold laboreth diligently and contentedly for the wise owner who finds it profitable employment, multiplying even as the flocks of the field. The third law: Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. The fourth law: Gold slippeth away from the man who invests it in businesses and purchases with which he is not familiar or which are not approved by those skilled in its keep. The fifth law: Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment." Like Nomasir, I am required to take these laws to heart and live by them.

The education continues in Rich Dad, Poor Dad, in which Kiyosaki seeks to bring to the public arena for the benefit of all, the answer to that question: "what is it that the rich teach their children that the poor do not teach their own children?" What is the secret of Paddy Adenuga, who at 22 is already a Director of Globacom, helping his father to run an aspect of his empire? What did Aliko Dangote's parents teach him as a young man, which many members of his generation do not know? And how did the rest of us end up as mere workaholics, pursuing a life of work, looking forward to the next pay slip? Rich Dad, Poor Dad is a capitalist manifesto. The author denigrates a life of endless work and ridicules the funny crowd that prides itself on scholastic and technocratic skills, without learning the ways of the rich. So, he offers a number of lessons. One, many of us are poor because we have forced ourselves into one of the biggest traps of life: working for money, expecting to be promoted and given a raise because we are hardworking. Such persons are victims of their own fears and insecurity. The rich do not work for money; money works for them. They are imaginative; they see what others miss. Two, the rich get richer because they understand the difference between an asset and a liability whereas the poor do not. Kiyosaki says owning a house is not an asset but a liability. This is obviously a controversial point. In the Richest Man in Babylon, we are advised that a rich man should build a house of his own! Three: mind your own business, that is protect your investment. Four: learn how the rich play their game on the critical questions of accounting, relating with the law, understanding markets and investments. Five: the rich invent money, they have financial intelligence. Six: "work to learn, don't work for money". Additional advice is further offered about how to get out of the rat race, overcome obstacles and get started on the route of wealth. Like Clason in The Richest Man in Babylon, Kiyosaki's Rich Dad, Poor Dad drips with optimism.

The critical difference between these two books and the remaining two by the pastors is that Pastors Adeyemi and Bakare use the Bible as the anchor for their analysis. The message in terms of wealth creation is based on the same thesis articulated so eloquently on page 105 of Sam Adeyemi's Parable of Dollars as follows: "Rich people do not have two heads, nor four ears, nor forty legs, nor four hands. Just like you have what they have in the physical, your spirit is as important as their spirit. The blood Jesus shed on the Calvary for them is the same one He shed for you. Before you were born, the same provision God made for them was made for you. There was no special provision made for anybody. Of course, they have stumbled on some things and have learnt a few secrets to get what they gotten, but you deserve to get those things as well. You will get them.". Tunde Bakare takes the matter beyond this competition between the rich and the poor, and focuses more on the purpose of wealth and how good things: prosperity, good health and long life await only those who have learnt to tap into God's favour, and power. He and Sam Adeyemi raise moral and spiritual questions that are lacking in the get rich quick manifestoes earlier considered.

The laws of making gold sound so simple, but I guess they cannot be so easy to apply in a society where governance is a problem, inflation is unpredictable, corruption is widespread and the rich are in constant danger of losing their riches to thieves and fraudulent banks. The Babylon that is spoken of was an organised society, in which the promotion of prosperity was a state policy. In Nigeria, our rulers are interested in promoting poverty. Ritual killers are on the prowl: they kill and use human parts to do money rituals. Could money from such a source have ever been in the contemplation of Clason and Kiyosaki? Many of the rich in our society are rich not because they have financial intelligence but because they are crooks, 419ers, who have either stolen from the public treasury or from others. There are a few who are genuine entrepreneurs but they are in the minority. Again, of what use is a rich man who cheats his employees, the state and everyone else. Do I really want to be rich after reading these books? Do I think I can apply the laws of gold and escape the rat race? Candidly, I do not know.

Nospetco- Case still in Tribunal- Chairman

Imoisilis.com finally got in touch with the chairman of Nospetco today after several many attempts to reach him.

He promised refering us to his consultants to give us all the information we need but not before confirming to us that the case with SEC is still in court.

Stay with us as we await contact from the consultants and feed you back on our findings.

Meanwhile to update you of the recent happenings in Nospetco, please follow the comments on these links: http://www.dipotepede.com/2006/08/28/nospetco/
http://deoluakinyemi.com/2007/01/11/nospetco-how-much-longer/

Have a great week ahead.

Michael Faust- CF Director Resigns

Michael Faust, the International Sales and Marketing Director of Clubfreedom has resigned to pursue his personal goals and objectives according to CF Express, the media arm of the organization.

Kim Donald, a staff member will be handling the online training and presentations for Clubfreedom for now.

imoisilis.com wishes Mr. Faust a successful and fulfilling life outside Clubfreedom.

Nospetco's Addendum to MOU on J.V.P.

Below is a reminder of the addendum released in December 2007 by Nospetco board with a view of taking effect from January 2008. It's 6 months now since it was released, nothing has happened and there is no explaination for it.

Nospetco's partners as they called have been in the dark for over a year now. Can someone please draw the company's attention to updating it's website frequently so its partners can have an idea of what they are up to all the time?

The Board of Nospecto Oil & Gas Ltd (NOG) during its extraordinary board meeting reviewed the structure & frame work of its joint venture partnership with private individuals and corporate organizations and came up with the following addendum to the signed MOU with its JV partners.

1. Source of Funds
Funds for the Joint Venture Partnership (JVP) will subsist from private individuals and corporate bodies with the exception of uneducated individuals and minors.

2. Rate for Returns
Taking into consideration the prevailing business climate in the down stream sector of Nigerian Oil & Gas industry most especially with the deepening effects of deregulation on the marketing of refined petroleum gas & petrol-chemical products where NOG largely operates, the board decided to adopt and revert returns on every slot of the JVP to 25% per annum on redemption basis, with effect from January, 2008.

3. Redemption
This entails non-payment of monthly returns. Payment of capital & returns will be on a redeeming pattern. Every month, returns on outstanding investment is assumed to be part of the subsisting capital and returns as at the date of redemption. A partner cannot redeem more than 4 times a year.

4. Mode of Redemption
Redemption will be executed subject to availability of funds and at the discretion of management in the following pattern:-
a) Up to one million naira within 30 days.
b) Above one million naira to 10 million naira within 45 days.
c) Above 10 million naira within 60 days.
However, returns subsisting within the notice period will be earned. Any request to reduce the redeeming period will amount to loss of returns for the period.

5. Review
At the discretion of the management, if there are any changes on the foregoing, the JVP partners will be duly informed.

6. Interegnum
The period between May and December 2007 saw the company at its highest state of instability and disarray as a result of the adverse effects of the campaign of calumny sponsored by our perceived enemies unprecedented and overwhelming divestment orchestrated by the ill conceived Securities and Exchanged Commission (SEC) advertorials as well as the serial closure of our bank accounts by 4 banks namely:- Zenith bank, UBA, GTB and First bank, who rather than identify with us in our plight as an outstanding customer, dubbed us as competitors.

These developments distorted the entire operations of the company, caused an uncontrollable ran on the system, created disharmony and disaffection between us and our partners that culminated in an untimely closure of operations before the end of the year.

7. The Way Forward
Fellow partners, this interegnum between May and December 2007 saw us doing little or no business, as such no tangible profit to share. As a result of this unforeseen interregnum, we therefore sincerely and earnestly seek to appeal for your understanding, support and acceptance for us to create an harmonious platform for us to negotiate with you our partners on how to mutually handle the issue of unpaid returns for the affected periods, we also seek for your further acceptance and adoption of the new structure contained in this addendum as an extension of the JV MOU and a way forward from January 2008.

Your company NOG still boasts of the potential of becoming the most diversified indigenous oil and gas company in Nigeria, with your unflinching support.

Treasureline- Way Forward

For all Treasureline investors, sorry this is coming a bit late, been really tight lately and network has not be been friendly with me but I guess it is better late than never.

Please log on to Treasureline Interlink to get the concluding part of my previous write up on Treasureline.

Some one called me lately from Minna wanting to find the plan for investors outside Lagos, as promised I spoke with the Chairman and his response was that the new plan will cover the entire country through some selected banks on roll out.

For starters, please read all my writeups under the label "Treasureline" to be abreast of the developments.

Tension is subsiding and I hope to return to blogging soon.

For Nospecto, sorry no gist yet, last I heard was that they are still in the tribunal. I am very optimistic about my investment with them. When will I reap the benefits? I don't know for now but I believe soon.

Sefteg? GOD help us. No news ever since.

Bought some financial e-books from IK of emoney.com some few months back and have not been chanced to read it, willing to share with some of you who are interested in learning the tricks in the books with me.

I plan to brainstorm and practise the content of the books with 5 interested people on Saturday night through yahoo messenger, so the first 5 people to send me an e-mail with the subject: BRAINSTORM will be sent the books via e-mail if they don't have it already. I hope IK will not sue me for this.

My yahoo id is imoisilis@yahoo.com, please ensure your network connection is night browsing enabled for the exercise.

Its good to be back again. Can't wait to try some new tricks again.

Take care and have a fulfilled week ahead.

Breaking News...Treasureline Delisted from Illegal Fund Manager's List

Treasureline Interlink has been delisted from the list of Nigerian Illegal fund managers through a court judgement.

The news has been confirmed by the Chairman of the organisation, Dr Waliu Oyeniran Oyeleke via a telephone conversation with imoisilis.com this evening.

A press conference will be held in Lagos tomorrow for the full briefing.

Full details to be out shortly...

What is e-Currency?

Hello, quite a while. Confess my blogging has not been regular lately, no thanks to my current work pressure. But somehow I am determined to un-laminate that aspect of my life now irrespective of whatever pressure I face. Did I hear you say new CANDO spirit!

This week I am starting with a research I just concluded on e-currency, it is a quite a piece and I believe it will educate us more on this new revolutionary method of payment sweeping the world like wildfire.

Things are happening fast and I think we have to be part of it...

What about Wonder Banks? Sorry I haven’t heard much lately, the same old story but I am still optimistic that our hard earn investment will not go down in vain. Will keep you posted soon as I hear anything concrete.

British Airways and the humiliation of Nigerians, hmmm, what can one say; I hope we never get to hear of this sort of nonsense again. We deserve to be treated better considering the high economic gain the Lagos - London route contributes to the company’s purse. That route is one of the most lucrative routes in the world, Nigeria Village Square thanks for the good job and congratulations on your 5th anniversary.

Brother Ayodeji Omotade, the whole country is behind you now, just keep up the good fight!

The New Nigerian Club? The realities are becoming glaring by the day, with new deals springing up here and there and the mad rush to grab every piece of the action. Weekly seminars are now held in Lagos where members are taught the basics of investment, opportunities and how to utilize them. The kick of NNC is not in the MLM as a lot of people thought but in the deals that are opened to members. To Deolu and Generis team I say well-done, please keep up the good work.

Hmm ...talking about MLM, the market has been very slow lately with some new ones spring up and dying almost simultaneously. Guess we are all tired of chasing people all around. Clubfreedom didn’t make it any easier.

Stock Market? Bearish note, right time to take position for the next bull’s rush.

Congratulations my child hood friend, Oba Sejiro Olalekan James, Oba of Kwame on your first anniversary on the throne of your forefathers. Kabiyesi, k’ade pe lori, ki bata pe lese, oye a mori o! Forgive my poor Yoruba grammar.

Adieu Pa Abraham Adesanya and one time VC of my Alma matter, LASU, Professor Jadesola Akande, may your beautiful souls rest eternally in the good LORD’s bosom.

Please join me as we take a trip to the new world of e-currencies...

What is e-currency?

The “E" of e-currency stands for "electronic"; in which means the currency used on the internet related field just like email. There are several benefits of using e-currency service on the internet like e-gold and PayPal.

Basically all digital currencies are in fact “online payment systems” allowing you to transfer instantaneously, some value to an individual or a company located anywhere in the world. This transfer could be a simple gift or a payment for an object or a service that you want to get.

E-currency is precious metal-backed Internet currency. To open an account, an individual "deposits" money with an online e-currency company that then converts the amount into gold bullion. Via the Internet, the account holder can transfer ownership of some or all of that gold into someone else's e-currency account. Ownership can be repeatedly transferred.

It is a sort of online version of "warehouse banks," which similarly converted account holders' deposits into gold or silver bullion stored in the bank. These institutions became popular in the 1980s among domestic right-wing extremists, who used them to launder money, hide assets and to commit other financial abuses.

While the records of e-currency companies may be obtainable by court order, and all transactions involving $10,000 or more in cash must be reported, some economists and Secret Service officials have expressed concern about the potential for money laundering using e-currency channels.

E-currency has been widely used by perpetrators of pyramid scams. Swindlers demand payment in e-currency because, unlike with checks or credits cards, the charges clear instantly and cannot be cancelled. Experts estimate that about half of e-currency transactions are related to scams or online fraud.

The most popular e-currency service is e-gold, operated by Gold & Silver Reserve, a Florida-based company. It claims more than 200,000 accounts and more than $14 million in currency. A January 2002 account reported that its clients made 8,600 transactions daily. About half of the e-gold system's physical reserves are located in Dubai, apparently for financial reasons, but also to help in the marketing of e-dinar, which was launched in September 2000.

E-dinar is affiliated with the Islamic Mint, a private organization dedicated to reviving the gold and silver currencies described in the Quran. Officers of the Islamic Mint (who hail from England, Spain, Switzerland, Malaysia and Germany), are members of the Murabitun movement - a tiny, Western offshoot of Islam's Sufi movement, founded by a Scottish convert in the 1960s. The sect is staunchly anti-Al Qaeda and anti-Taliban and seeks to enlist Muslims worldwide in an effort to overturn world finance in favour of a "Quranic" gold and silver system.

Other smaller systems include Gold Money, Internet Dollar and Web Money. There is no indication that any of these companies, including e-gold, engage in illicit behaviour. (E-gold has been commended for its cooperation in investigations of its account holders.)

Use of e-currencies

1. The e-currency can be used on the internet related commercial applications such as shopping on the internet and doing personal investment via internet.
2. The using of the e-currency services for example e-gold and PayPal brings people a new way not to use their credit card as the only payment method on the internet since sometime there exists a big risk to provide your credit card information to the merchant you do not know them very well and most of them are far away in the other side of the earth.
3.The e-currency service companies such as e-gold ,PayPal, e-bullion, c-gold, pecunix, Liberty Reserve and EMO can provide both the buyers and merchant the convenient way to send and receive the payment just by clicking the confirm button and the deal is done. None of the payment methods in the world right now can provide this kind of efficiency capability.

Types of e-Currency

There are two major types of e-currency in the world. The major different is their backed base. One is backed by precious metal such as e-gold is backed by gold. Another type of e-currency is backed by hard currency like PayPal. Both of them are all called e-currency.

Digital Gold Currencies (DGCs) are a form of Internet money denominated in gold weight. The typical unit of account for such currencies is the gold gram or the troy ounce, although other units such as the gold dinar are sometimes used.

Due to its rarity and durability, gold has long been used as a means of payment. The exact nature of the evolution of money varies significantly across time and place, though it is believed by historians that gold's high value for its utility, density, resistance to corrosion, uniformity, and easy divisibility made it useful both as a store of value and as a unit of account for stored value of other kinds. In Babylon, a bushel of wheat was the unit of account, with a weight in gold used as the token to transport value.

Just like the Gold backed Digital Gold Currencies (DGCs) .Currency backed Digital Currency is another type of e-currency but been backed by the hard currencies .Most of those currency backed digital money are backed in USD and EURO for example PayPal, Net Pay, EMO and Storm Pay. Just like the DGCs the DC has the same key function for using in the internet related commercial applications.

Pros and Cons about different types of e-currency

Digital Currency (here we mean e-currency backed by hard currency) is widely used in the internet as the medium of internet related commercial actions. This provides those users a quick, simple and safe way for shopping instead of showing their credit card information to merchant who they do not know.

However DC is somehow been restricted in some regional area which is defined by the currency they choose to be backed .The major reason is the floating character of exchange rate between the hard currency and the local currency often used by the internet users. For example, an internet user who lives in Japan may lose money when processing the currency exchange from USD to JPY if he does not watch out the international economics careful enough.

Most of the e-currency companies backed by hard currencies become big giant because of the large number of currency users, e.g. PayPal. But no one will guarantee if PayPal can do the same good job in the future hard currency such as the RMB in China if PayPal does not provide RMB base payment service.

Other Advantages

• They are borderless. A transfer can be sent to anyone in the world.
  
• Transfers are instantaneous, no waiting for checks to clear or credits to be made
  
• Transactions fees are lower than credit cards and banks.
  
• Payments are irrevocable. So no charge back anymore. "Get paid, stay paid" unlike credit card payments.
  

Disadvantages

E-currency transactions are irreversible once done and the fact that you don’t know the other party make it worse.

Highly risky: You have to be sure of whom you are dealing with before parting with your money otherwise the money is gone.

Who uses e-currency?

• e-commerce
• Business-to-business payments
• Point of service sales
• Person-to-person payments
• Payroll
• Bill payments
• Charitable donations

What is the difference between Digital Currencies?

The main difference between digital currencies is the way they are accounted. Some are simply accounted in a specific national currency and some others are accounted in weight of metal like gold or silver.

For example “E-bullion e-currency” and “Liberty Reserve USD” are accounted in USD. So if you have an “E-bullion e-currency” account with a balance amount of 500 then your account value is 500$USD. However if you have an e-gold, e-bullion gold, c-gold or Pecunix account which is accounted in weight of metal then its balance amount is a number of units of metal not a number of a national currency.

That is to say that if you have an e-gold account with a balance amount of 500 it means that you have 500 troy oz of gold. The equivalent current fiat (national currency) values are displayed for reference only, and will fluctuate with the current market price although digital metal currencies are accounted by weight; their payment system allows a value transfer to be expressed in terms of different national currencies.

For example, it is possible to:

• Transfer 5 troy oz worth of e-gold
• Transfer 4.3 grams worth of e-gold
• Transfer US $300.00 worth of e-gold
• Transfer CHF 985.88 worth of e-gold

This means that an American can pay an Australian or Japanese can pay Spanish the correct weight of gold for a good or service as easily as if the price had been quoted in his own national currency.

Advantages of Digital gold Currencies over National Currencies

By definition Money is anything that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts.

But, what makes a kind of money better than another? Simple, it’s capacity to keep its purchasing power. Therefore Gold is still the best money in the world. It exists for nearly three thousand years as a medium of exchange and on a long period of time it keeps its purchasing power contrarily to any other national paper currencies that see their purchasing power reduce by inflation.So keeping your assets in Gold in the best way to protect it against inflation and thus keep your purchasing power year after year.

However carrying gold in not practical as a form of payment, but thanks to internet and digital gold currencies that brought us the possibility exchange tiny amount of gold for a tiny fee.
Because gold has an internationally agreed value, Digital Gold Currencies systems are perfectly suited to the specific demands of e-commerce.

e-gold
e-gold is a digital currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. Other e-metals are also issued and 100% back by the corresponding metal: e-silver, e-platinum, and e-palladium.
e-gold is integrated into an account based payment system that empowers people to use gold as money.

e-bullion
e-Bullion.com is legally registered as a corporate entity in the Republic of Panama.
All reserve bullion backing the e-Bullion.com system is allocated and remains the property of the e-Bullion® Company and e-Bullion® account holders.

c-gold
Commerce Gold (c-gold.com) is a project of Private Gold Equities Exchange Limited, a Seychelles company (est. 2005, cert. 024795) that specializes in the development and operation of online market places and e-commerce platforms.

Liberty Reserve
Liberty Reserve is incorporated in Costa Rica. It is a 100% irrevocable payment system allowing you to send or receive money to or from anyone in the world.
An offshore Trust protects Liberty Reserve and is always backed 100% by U.S. dollars for LR-USD accounts, and by gold for LR-gold accounts, etc.

Pecunix
Pecunix is gold based digital currency and payment solution that allows people to securely make and receive payments instantly via the Internet.

Popular e-currency Exchangers

There are so many e-currency exchangers or funders across the globe including Nigeria. To find one you can use e-currency directory to search for the appropriate one that meets your needs in terms of the current purchasing rate.

However there are fraudulent ones too, so you have to be very careful when choosing an exchanger. I would advise you investigate an exchanger before parting with your money.

This article was done for information purpose only. imoisilis.com is not privy and will not be held liable for any form of transaction done by the visitors of this site based on the information provided herein. Visitors transactions are at their own discretion.

Extra materials gotten from www.giexc.com and www.getemoney.com

Laminated life

This came from my reading through Adeolu Akinyemi latest article of the laminated life about how ignorance can mar man and send him to an early grave. In the article he gave a short story of a dedicated servant who almost died out of poverty, while sitting in her living room was a cheque of 100 million dollars given to her by her grateful late master.

She did not know the content of the “paper” but she treasured it so much that she laminated and hung it on her wall with the hope of showing it off to her friends.

She fell sick and almost die of lack until luckily the laminated paper caught the attention of a young man who told her the real value of the paper.

Ever since I read that article my mind has been running riots with the conscious discovery of some laminated things in my life mostly due to one flimsy excuse or another.

Lamination here means untapped values or opportunities. Those little things inside you that people cherish but you have suddenly stopped doing or cannot properly utilize. These values cut across every facets of our life, from spiritual to business to personal relationship with people.

You might have shrouded them unconsciously for whatever reason and yet looking for it somewhere else. Why go to Sokoto to get what is in your “Sokoto” (pocket)?

In life every one has a unique chance but the difference is the time it takes for them to know and utilize it. Some know it early, others late and some will never know.

So my people think and resurrect every dry bone now. Dry bones shall rise again for those who first recognize the dry areas by looking inwards and plan to change it, does not matter how many times you sing the “dry bone shall raise again” song, without recognizing the dry areas and putting in consious effort to resurrect them, they will forever remained dried.

Adeolu, great motivational speaker has just delivered a message like the famous town crier of old; how we receive the content is up to us. Choice is always ours to make.

I have decided to raise my dry bones again and make sure they stay alive this time, what about you?

Contradictions as NSE denies Knowledge of Afroil and Capital Oil Suspension

The Nigerian Stock Exchange has said it is not aware of the indefinite suspension placed on trading in the shares of Afroil Plc and Capital Oil Plc by the Securities and Exchange Commission.

The Principal Manager, Corporate Affairs, NSE, Mr. Shola Oni, said on Thursday that the NSE was yet to receive any information from SEC on the suspension of the shares of the two oil companies.

Oni said, “We read the story on the pages of the newspapers just like every other person and I think that will not be the best for the system. The relationship between the stock exchange and SEC has always been cordial, but there should always be due process.”

SEC had, on Wednesday, announced an indefinite suspension of trading in the shares of Afroil and Capital Oil on the NSE. The commission said the decision was a fallout of an investigation into the activities of six companies, announced on February 15, 2008. According to the commission, the two companies were involved in insider dealings.

The commission had declared that the basis for the continued trading and rise in the prices of the shares on the exchange, no longer existed, adding that the decision was to protect stock market investors.

Prior to the commencement of the investigation, the Director-General, NSE, Prof. Ndi Okereke-Onyiuke, had flayed SEC for not informing the Exchange about the activity.

Our correspondent gathered that, despite the suspension, there was still trading in the shares of the companies.

Some stock brokers said that the shares of the companies were, largely, in offer on Thursday as investors were apprehensive over the announcement.

The stock brokers, who spoke on the condition of anonymity, berated SEC for not informing the NSE before carrying out any activity on the Exchange.
According to them, the perceived unhealthy relationship between both organisations can create tension in the capital market.

“We all agree that SEC is the regulator of the capital market, but there should be due process in everything. The commission has to understand that the NSE, to an extent, is also a regulatory body.

Without the stock exchange, I don’t think there will be anything for SEC to regulate,” a stockbroker said.

At the end of trading on Thursday, Afroil, which sold at N24.13, traded 4,424,117million shares, valued at N106.754m in 342 deals.

For capital oil, 3.414 million shares worth N55.006m were traded in 144 transactions. It sold at N16.11

Culled from The Punch

SEC Suspends Afroil and Capital Oil

The Securities and Exchange Commission (SEC) has suspended Indefinitely trading in shares of Afroil Plc and Capital Oil Plc across the floors of the Nigerian Stock Exchange (NSE).

A release by SEC's Head of Media, Mr. Lanre Oloyi in Lagos, said that the suspension was a fall-out of the investigation conducted by the Commission on the activities of the two companies.

It said that the action was to protect the investing publics and warned stockbrokers to avoid trading in the shares of the companies. SEC questioned what it called "illogical and astronomical rise in the share prices of the companies'' when they were not submitting statutory reports.

The Commission said its investigation revealed that during the period of the price growth, the two companies were basically out of business.

"The basis for continued trading and rise in the prices of their shares on the NSE no longer exists and the investing public must not be deceived,'' SEC said.

The News Agency of Nigeria (NAN) recalls that SEC had, on February 14, 2008, said it was conducting investigation into the activities of five companies, accusing some of them of insider trading and price manipulation.


Courtesy of Proshare

Dangote Sugar declares 50k dividend, 1 for 5 bonus

Leading producer of refined sugar in the country, Dangote Sugar Plc, has declared a turnover of N83.8 billion in its 2008 financial year end result.

In the company’s financial result made available by the Nigerian Stock Exchange on Monday, the company would, however, be giving a bonus issue of one for five to shareholders and a dividend of 50 kobo as its final year and last quarter payment.

The company had made a total of N12 billion payments in its dividend schedule which is on quarterly basis.

The result showed that the company’s turnover dropped from N83.8 billion in 2007 to N80.64 in 2008 while Profit After Tax which closed last year at N16.65 billion increased to N21.47 billion in 2008.

To view complete financial result click here



Courtesy of Nigerian Tribune and Proshare

Getaway Club Verification Scam Alert!!!

Fraudsters never give up. See the latest mail from Getaway Club Admin disclaiming their latest tricks. Please don't for any reason give your personal information out to anybody.

VERIFICATION SCAM ALERT (Urgent Verification Required!)

Dear Members,

We wish to advise that a recent email with subject "Urgent Verification Required!" has not come from GetawayClub Admin.

It is a fake email and should be ignored.

No accounts will be closed due to non-verification. We require photo ID only in the case of members wishing to withdraw funds, however the 3 day deadline written in the aforementioned email is false.

Management
GetawayClub

Latest on Treasureline Interlink

For Treasurelink Investors the end of the long wait might soon be over judging from information gathered from the Chairman/MD of the company, Dr Waliu Oyeniran Oyeleke last week in Lagos to imoisilis.com

The discussion covered several issues centering on the crises, formal registration of the organization with Security and Exchange Commission (SEC) (click on the image above), a peep into the future operation of the company and investors’ security.

More insight was given to the alternative investment plan for its current and new operators as mentioned earlier on this site: http://www.imoisilis.com/2008/01/sec-okays-treasureline-businessday.html

The new investment scheme called UNIT TRUST SCHEME (UTS) requires 50,000 Naira to start with a 28% annual Return on Investment (ROI).

The ROIs which will be paid quarterly i.e. four times in a year will be in the following order:

1st Quarter - 10%
2nd Quarter - 8%
3rd Quarter - 6%
4th Quarter - 4%

However this is likely to increase in subsequent years.

The new scheme will see investor’s slots changing into units in line with the company’s new position.

Current Treasurelink investors with investment less than the required start up capital have an option of either summing up the balance or withdrawing out rightly.

Investors whose current investment is above the start up capital will have their investment transferred into the new set up and issued a UTS Certificate that can be traded incase of a divestment.

The new company which is expected to take off soon have recently recruited a new management team to man its new operations and is also partnering with First Registrars, Revelation partners, Balogun Badejo Company (Chartered Accountants) and Osafemi, Soetan, Adeleke & Co (Auditors) amongst others to move its business to the next level.

Managing Your Stock Portfolio

Sometime ago, a friend of mine sent me an automated e-mail from one of those numerous sites that direct you to invite some other people to come check them out. My first reaction was to delete the mail but on a second thought I decided to open it and went further to click the link attached and behold in it was something I have always craved for.

e-Stock portfolio is something I have always wanted, how you can calculate your stock value instantly without the stress of using calculator and going through Newspaper stock report for the latest figure. It was a problem I needed to solve and very fast.

The closest I got to solving this problem was to create an excel spreadsheet with multiple calculations with different columns for Equity, Purchased Volume, Purchased Unit Price, Date of Purchase, Current Volume, Volume Difference, Current Price per Unit, Unit Price difference, Current Price, Difference and Percentage loss or gain.

My Spreadsheet was alright with columns cross multiplying, adding and subtracting each other. Yet there was still a problem. The problem was I had to input the current price manually to drive the other figures in other to get my current stock value status and that meant getting the latest price from newspaper stock report on a daily basis.

The implication for me was that after a while I got fed up with updating the current price manually and soon forgot about it.

With the new link sent to me I found the solution to my stock portfolio problems. Since I got the link, I have forwarded same to quite a lot of people with some of them showing honest appreciation and referring it to their friends and loved ones. When you find something good you spread it around with so much joy. With the same joy I am introducing the site here for many more people to see, try it out and spread the good news too.

The site is: http://www.investordelight.com/ it is a web based valuation site which enables you to easily track the value of your stock investments in Nigerian stock market. They send daily or weekly valuation alerts to your email, depending on your preference. The e-mail updates are based on the current closing price of each day or week.

You can also log in to their site any time of the day to check your current status based on your created portfolio. This can be done by entering your registered account name (that’s your e-mail address) and password.

The registration process is very simple, fast and free.

You can also convert your report to spreadsheet by clicking on CSV export, view history of a particular equity by clicking on the equity in your portfolio, watch your stock growth in graphical detail and view profit margin history by hitting the “History” button.

Apart from knowing your current status in real-time online, one of the benefits here is that you can actually plan on when to sell or buy a particular equity. Predict to some extent the rise or fall of shares based on the constant detailed information provided specially for you (based on your created portfolio) by this site. It can also assist you in monitoring your broker’s advice.

How they chose their name I don’t know but I can assure you that the information they pass is very “delighting” to the heart.

For readers who are new to stocks you can find useful information in “Stock Market Tips for Nigerians” on Nairaland.

Special thanks to my friend, Festus Adegorite for referring me.

Have a successful week.
Cheers!

Nospetco Chairman's Latest Letter

Nospetco investors see the latest letter from the chairman of Nospetco, Alhaji Yushau A. Maiyaki

To view the letter please click here

Cheers!

Clubfreedom Reviews Reward Again

Clubfreedom is again in the news, this time around they have reviewed thier reward package for a second time and it takes effect from today, February 1st, 2008.

The new reward package now includes a US $1000 travel voucher for succesful travellers but has also reduced the payout from US $300 to $200 for stage 1 to stage 2 cyclers and $100 for thier direct upline.

The new reward will be paid instantly into members' ecash wallet as against earlier stand of re-investing the fund in ecash invest for a period of 90 days (which was later reduced to 30 days after so much criticisms).

It will be recalled that imoisilis.com also joined in criticising the first review plan. See:
http://www.imoisilis.com/2007/11/our-views-on-clubfreedoms-new-reward.html

Some of the issues raised in our protest letter have been addressed but we still advise Clubfreedom to do more than adding a few dollars here and reducing some there in thier subsequent reviews.

The news of the review was first mentioned in thier last Nigeria meeting held some couple of days ago in Lagos, Port Harcourt and Abuja.

The new review plan have been mailed to all members and can also be found in the update section of members' personalized Clubfreedom website. A copy of the mail is also pasted here for quick viewing.

The real effects of the review will be seen in the next few weeks and until then we keep our fingers crossed and wish all CF members happy sales!

NEW Rewards Program Launches 1st February 2008!

Clubfreedom has been listening to feedback from our valued leaders the past few months and responded with the announcement of a NEW Rewards Program starting February 1st, 2008!

Firstly members told us they would prefer to have the Stage 1 Rewards paid as CASH REWARDS rather than eCash-Invest credits so we responded!

Stage 1 Rewards are now as follows:

US$200 Cash Reward paid directly to the ewallet of the member who progresses from the Qualifier position on the Stage 1 board to the Reservation position in Stage 2.

US$100 Cash Reward paid directly to the ewallet of the member who introduced the member who progressed from Stage 1 to Stage 2.

Stage 2 Rewards are now as follows:

US$6,000 Cash Reward paid directly to the ewallet of the member who cycles out of the Traveller position in the Stage 2 board.

PLUS US$1,000 Travel Voucher that can be used with Clubfreedom's preferred travel suppliers against the cost of any travel booked.

The NEW Rewards were received with thunderous applause in Nigeria this week!

Clubfreedom is back again in the news having recently reviewed thier reward package to include instant cash in member's ewallet when they cycle from stage 1 to stage 2.

The reward which gives a traveller $1000 travel voucher has also reduced the payout for cycling from stage 1 to stage 2 from

These NEW Rewards were announced at the events in Nigeria the last week where Clubfreedom has it's most members and the news was received with great excitement and enthusiasm.

The slight reduction in Stage 1 rewards was required to enable the payment of the US$1,000 travel reward. The new travel voucher will allow many members who typically could not afford to take a good holiday to now work towards earning a $1,000 credit that can afford them the ability to now enjoy a quality vacation.

Please check your Clubfreedom Members Area regularly to keep informed of all the updates from Clubfreedom so you can take full advantage of all the benefits on offer.

Work closely with your support team to ensure you have the best opportunity to take advantage of these new rewards and enjoy luxury travel and cash rewards in 2008!