DONβT BUY Dangote Refinery shares. π
In 2007 β 19 years ago β I bought Dangote Flour Mills shares with β¦150,000. I have the share certificate, and my name is on it; I posted it with this post. π
I never received any dividend (the profit shared among shareholders), and to this day I have not even recovered my original capital. I tried to follow up through a stockbroker, but I couldnβt find anyone nearby who could help. I only went to Lagos in 2019. πβοΈ
I also went to the bank many times to fill e-Dividend forms, but I later noticed that Dangote Flour Mills had been removed from the list of companies on it. π€¦ββοΈ
In 2022, Pension and Stockbroker offices started appearing in Gombe. I went to one office; the staff member told me Dangote Flour Mills had sold the company and that shareholdersβ money had been transferred to the government β the NIPF (National Investment and Protection Fund).
From there they told me to go to the SEC, where they said I should fill an e-Mandate form. I filled it, but up till now there has been silence. π
Because of this experience, I cannot advise anyone to rush into buying shares without first understanding how the system works. Investigate thoroughly. Know where you will claim your dividend and your original capital if the company changes structure or stops operating. ππ°
Now I would also like people who understand financial calculations to work out the value for me: β¦150,000 in 2007 β looking at the exchange rate and the value of money at that time β roughly how much is that worth today? οΏ½οΏ½π΅
Wassalam. π From ADAMU YUSUF on Facebook