Cover Story
INVESTORS WIN BIG Make 63% average returns on investment A.G. Leventis, Oando, Japaul Oil, Law Union, others emerge Top 10 Dest Peter is one of hundreds of investors whose desire is to make reasonable wealth through investing in stocks but lack the required skill go it alone. Peter has, therefore, chosen to follow experts' advice to play safe hook, line and sinker. His decision was to adopt as a model for investment the Moneywise 40 carefully selected stocks christened 'MW 40'. It, therefore, appears that his decision to join the club of 'MW40' investors since August 2006has turned out to be a blessing because even in the face of the recent downturn the Capital market, he had no cause to lament. Pg1 Bamidele Famoofo
Investors count losses over IAA shares
These are, indeed, are no pleasant times for shareholders of Investments and Allied Assurance (IAA) Plc as they continue to watch their investment capital being eroded as a result of dumping of the shares of the company by frustrated and desperate investors. Pg1 Festus Okoromadu
CBN set to restructure currency operations
As part of the restructuring programme of the Central Bank of Nigeria (CBN), has invited interested service providers with good experience in currency processing and distribution to take over the designing, issuance and dispensing of currency. Mr. Ben Onyido, Director of Currency Operations of the bank, stated this recently during a press briefing in Lagos. Pg2 Tunji Agboola
Progenics Corp launches software for Microfinance banks
A foremost IT firm Progenics Corp Limited in Nigeria, has launched software that will allow Microfinance banks in the country to share customers' credit histories to enable macro-level analysis of lending patterns, cash flow and repayment. Speaking during the Strategic Forum on Microfinance Banking Solution held at the Sheraton Hotel and Towers, Ikeja, Lagos, last week, Mr Tony Udoh, Managing Director/ CEO of ProgenicCorp, said the essence of the product was to allow Microfinance banks to have consolidated data that is timely, speedy and regularly available. Pg2 Oladimeji Yussuf
Red Star Express distributes first dividend
Shareholders of Red Star Express Plc, for the first time since its listing on the Nigerian Stock Exchange (NSE), would receive compensation for investing in the company in the form of dividend. This follows the Board of Directors' recommendation of the distribution of 25kobo per share for the financial ended March 31, 2008. Although, the approval of shareholders is required before payment can be made, it is expected to be overwhelmingly approved by shareholders at its annual general meeting (AGM) to hold soon. Pg5 Festus Okoromadu
Relocation of oil multinationals to other countries
The recent purported moves being made by multinational oil companies to relocate their operational base from Nigeria's Niger Delta region to Angola, Libya, and even Sao Tome and Principe, sister oil-rich nations considered more attractive markets with clement weather, should be a matter of concern to all well-meaning Nigerians. Nigeria's position as, incontrovertibly, the African continent's largest oil exporter and key player among five top global oil producers, hitherto ranking only behind Saudi Arabia, Venezuela, Iran and United Arab Emirates, is currently being supplanted by Angola.  Editorial

               IPO: National Sports Lottery projects 159% dividend growth

Participants in the ongoing Initial Public Offer (IPO) coming from National Sports Lottery (NSL) Plc should expect a 159 per cent increase in dividend earnings for the 2009 financial year compared with that of 2008. The dividend forecast presented in the offer prospectus shows that at the close of the 2008 financials, a dividend of 37kobo per share would be distributed while the figure would increase to 96kobo per share representing 159 per cent appreciation.

Festus Okoromadu

                     Access Bank earmarks N10.5bn as post-consolidation dividend

Access Bank Plc has ear marked N10.5billion which represents a sizeable chunk of its net earnings for the financial year ended March 31, 2008, to be distributed among shareholders as dividend. It will be the first time after consolidation when the bank will offer dividend to its shareholders. It will be recalled that the Board of Directors of the bank post-consolidation, noted that the huge cost of consolidation (goodwill) which the bank was resolved to settle would stand between the shareholders and returns on investment. Pg8

Bamidele Famoofo