Press
March 9, 2010
August 31, 2009
BGL Launches e-Investment Project known as BGL “e-Invest”
We are pleased to welcome you to a new dawn in the way we do business. We have completed and received approval for the BGL e-Investment Project known as BGL “e-Invest”.
We have incorporated this e-Investment portal on two of our websites and therefore can be accessed from the “e-Invest” icons on the following websites:
www.bglplc.com
You are therefore advised to go through the procedure for the use of the site as highlighted below thoroughly so that we can master the steps and be able to advice our clients adequately.
All you are required to posses in order to complete your transaction on this site is your valid Interswhich powered ATM card. Please copy the link below and paste on your browser to read more about the FAQ’s of this solution. https://www.bglgroupng-einvest.com/index_faq.asp
Note that: most banks requires the user to apply for online payment activation on their Interswitch ATM cards before they will allow transactions to go through.
Steps in completing a transaction are as follows:
Step 1: Click on the e-Invest icon from our following websites: http://www.bglplc.com or http://www.bglsecuritiesltd.com to launch the secured portal https://www.bglgroupng-einvest.com where you will start your online investment process.
Step 2: If it is your first time to use this service, register as a user with a unique email address and then log in to the portal. But regular users are just expected to login.
Step 3: Select you investment product from our range of displayed products, by clicking on the product you want to subscribe to
Step 4: Fill up the required form and click on the make payment button to be redirected to the Interswitch payment portal where you will enter your ATM card number, expiry date and pin number for the payment to be completed.
Note: After the payment, a transaction code is generated and emailed to the client and the e-Invest project team consisting of representatives from Operations, Asset Mgt, CCU, GIC, IT, Treasury, ERM and Relationship Mgt.
Step 5: The operations team will print the request in preparation for execution after the clients’ payment has been confirmed to have settled in our account. Finally a notification will be sent to the client intimating him of his mandate status.
You are welcome to this revolution in the way we do business.
Some of the benefits of this platform include:
The following Key selling points
- Clients who currently have issues about CHQs pending clearance for stock purchases or other transactions will be addressed by this platform
- This platform is a no COT charge transaction platform since there is an existing agreement between Interswitch and the banks not to charge COT
- The client will take full control of their Investment payment process by placing mandates and making payment from the convenience of their homes or offices at any time of the day or any day of the week.
For further information, please contact the e-Invest team on itsupport@bglltd.com or extensions: 1186 or 1222. Direct line is 01-4622616.
June 15, 2009
BGL - Nigerian stock market still strong
BGL Securities has said the Nigerian stock market is still fundamentally strong and that the rally currently witnessed in the market is as a result of renewed confidence and thrust by both local and foreign investors. BGL’s group executive director, capital management, Mr. Henry Laraiyetan, who said this in Lagos, said the Nigerian market “is sound”, adding that what happened in the past was that there was loss of confidence, as many investors wanted to make profit in the short term. “But today, we have a rally and it is not going to be easy for the recovery to be sustained and noticeable but all hands are on deck to rejuvenate the market. We also need to tell investors that investment in stock is a long term issue,” he said.
Laraiyetan attributed the recent rally in the market to the easing of liquidity, which helped to bring value-investment potentials of under-priced stocks to light, reduction in interest rates, reduction of Monetary Policy Rate (MPR) from 9.75 per cent to 8 per cent, strong corporate performance by listed companies and a renewal of investors’ confidence in the market. “It is instructive that despite the downturn in 2008, the Nigerian Stock Exchange (NSE) Index remained four times more valuable than it was 10 years ago. In the immediate term, we expect further bouts of price upswings, which will open trading losses.
http://www.tribune.com.ng/15062009/news/news22.html
June 10, 2009
BGL Plc has been appointed as a consultant for re-capitalisation and restructuring of Savannah Bank
The Board and Management of Savannah Bank are taking bold steps to ensure that the bank opens its doors to customers within the 18 months period given by the Appeal Court, in February this year. The Court of Appeal had on February 5, in the case of Savannah Bank of Nigeria Plc vs Central Bank of Nigeria et al ordered the apex bank to restore the licence of Savannah. The court, however, put a caveat that Savannah Bank had to recapitalise to the tune of N25 billion and meet other regulatory conditions within the specified period, before it could commence operations.
In the first step to reopen its doors after closing for seven years, the Nigerian Deposit Insurance Corporation (NDIC) in Lagos yesterday formally handed over the premises of the bank to the owners. At the event, hosted at the headquarters building of the bank in Broad Street, Lagos, NDIC’s Managing Director, Ganiyu Ogunleye, said in obedience to the Appeal Court ruling, the NDIC was handing over all Savannah Bank branches to the owners, for them to commence stock taking and the process of reopening the financial institution. Savannah Bank’s promoter and former Chairman, Chief Jim Nwobodo, later cut a commemorative tape, signifying the takeover of the bank’s 140 branches across the country from the NDIC. Nwobodo said the bank would be coming back as a world class financial institution, notwithstanding past distractions. THISDAY gathered that as further steps to fasttrack the re-launch of operations, the bank has engaged the services BGL Plc and other consultants for the purpose of its re-capitalisation, restructuring and streamlining of operations.
http://www.thisdayonline.com/nview.php?id=145715
May 4, 2009
BGL Chief Assures Of SEC, NSE Regulatory Ability
The management of BGL Securities Limited (a member of the BGL Group), has opened its mid-west regional office in Benin, as part of the group's expansion introduced last year. While in Benin, a statement by the group said, the team paid a courtesy call on the Oba of Benin, Omo N'oba N'edo, Uku Akpolokpolo Erediauwa in his palace, and used the opportunity to react to recent developments in the nation's capital market. Managing Director and Chief Executive of the company, Cornelius Oboh, assured investors that both the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) remain committed to the growth and development of the nation's capital market and economy in general. Both institutions, he noted, continue to pursue their mandate of ensuring the safety and security of investment, just like others within the system.
As such, he explained, the regulators are adequately capable of preventing unethical practices in the market, bringing erring operators to book, just as they "are determined to stamp out unprofessional conduct in the capital market." He buttressed his point with the punishment meted to those involved in the recent AP share price manipulation saga in which Nova Investment and Securities Limited has been suspended for a year, while individuals involved were sanctioned. This, he believe, are part of the regulators' resolve to sanitize the market. The company's Deputy Managing Director, Mid-West & Eastern Region Operations, Tony Nwozor maintained that such unwholesome practices were not peculiar to the Nigerian capital market, recalling the case of a capital market player in the US who was recently jailed for diverting undiscerning investors' funds worth several billions of dollars. He noted that in Nigeria, stockbrokers found wonting, risk forfeiting their operating licenses for unprofessional conduct inimical to investors' interest.
April 28, 2009
BGL Securities Surulere branch started operation.
March 25, 2009
SEC Approves N20bn BGL Mutual Funds
- Culled from Thisday
The Securities and Exchange Commission (SEC) has approved the floatation of three mutual funds by BGL Plc worth N20 billion.
THISDAY had reported that more capital market operators were embracing mutual funds. BGL, CSL Stockbrokers and Afribank Trustees, Intercontinental Capital Market Limited had applied to SEC to float various mutual funds.
THISDAY checks last Monday revealed that the Commission had approved the three funds to be floated by BGL Plc. The funds are BGL Sapphire Fund, where 200,000,000 units would offer to the public at N50 per unit.
The second is BGL Xcalibur Fund (100,000,000 units at N50 per unit) and BGL Nubian Fund (100,000,000 units of N50 per unit).
It was gathered that the completion board meeting for the funds may hold very soon.
More capital market operators are embracing mutual funds as the capital market continued to witness a downturn. Mutual Funds pool the resources of various investors together and invest them in a wide range of securities so as to keep risk to a minimum in time of a downturn.
Although there are many of them in the financial system, about 23 of them are listed on the Nigerian Stock Exchange (NSE) already under the memorandum quotation sector.
Market analysts had said that the attraction to the mutual funds was due to their risk diversification element.
“Since mutual funds invest in various sector of the stock exchange, with some even putting part of the money in real estate and money market instruments, it is always is a very good form of spreading risks. This makes its patronage equally high,” Seye Adetunmbi of Value Investing Limited had said.
While some equities suffered losses of over 60 per cent last year, mutual funds recorded lower losses. Some of them are still trading above their listing prices.
http://www.thisdayonline.com/nview.php?id=139052
March 16, 2009
BGL Securities Ikeja branch started operation.
February 27, 2009
Apapa Branch of BGL Securities held a cocktail to mark its branch opening. It was well attended by several stakeholders in government and business in the Apapa area.
February 20, 2009
BGL Securities Apapa branch started operation.
February 13, 2009
BGL Securities Alaba branch started operation.
February 6, 2009
BGL Securities Owerri, Asaba, Benin, Onitsha and Enugu branches started operation.
February 4, 2009
SEC Approves New Market Maker
BGL Ltd has been registered as a Market Maker by the Commission. This brings to six (6) the number of registered Market Makers. The others are: Chapel Hill Advisory Services, Diamond Capital & Financial Market Ltd., Greenwich Trust & Investment Ltd., Value Capital Ltd. Vetiva Capital Management Ltd.
January 30, 2009
BGL Annual General Meeting held at The Lagoon Restaurant, Victoria Island, Lagos.
January 21, 2009
BGL Private Equity Funds, BGL Private Equity (BVI) Club I and BGL Private Equity (Mauritius) Fund I Launches.
January 15, 2009
BGL Securities Apapa branch is up.
