| Nigeria: Oceanic Bank Offer Opens at N16.50k
From today to April 13, 2007, investors all over the world will again have the opportunity of being part owners of Oceanic Bank International Plc, the fastest growing bank and the fourth most profitable bank in Nigeria in 2006. The bank is offering to the public a total of 3.4 billion units of its shares at a discounted rate of N16.50. The offer, expected to increase the bank's shareholders' funds by N55.4 billion to over N100 billion, is being undertaken to give investors opportunity in the Oceanic Bank treasure. The offer proceeds would also be used to increase its capital base, invest heavily on information technology, be used as working capital and also increase its branch network locally and offshore. .
Activists gear up for immigration reform debate
NORTH COUNTY ---- Tina Jillings and Claudia Spencer are two local Latino women who could easily represent opposite sides of the nation's immigration reform debate.Jillings said she will soon travel to Washington, D.C., as part of a group lobbying Congress for wide-reaching reform that she hopes includes legalization for the country's estimated 12 million illegal immigrants. Spencer, on the other hand, was recently featured in a newspaper ad arguing against illegal immigration. "Illegal aliens and their supporters would have you believe that all American Hispanics want open borders, unrestricted immigration and amnesty for law-breakers," the ad, which features a large picture of Spencer's face, reads. "That is just not true." .
Fidentia investors could get only half of returns
Investors in Fidentia's financial asset management group may end up getting only half of their returns. According to the curators, they might have to wait for up to four years as investigations into the company's assets and finances extend offshore.
One of the beneficiaries whose funds were invested in Fidentia asset management via the Living Hands Trust was sent from pillar to post by the trust fund when she tried to enquire about her returns. Xoliswa Mawu, a widow says her concern is that the money was supposed to be released to her son next year, but do not think he will get the money as they say it was stolen.
A concern like that of Mawu is shared by many widows and orphans of dead mineworkers whose funds have reportedly disappeared while some Fidentia executives lived a lavish lifestyle.
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