Sunday, August 19, 2007


This is a bank that has brought joy to the heart of many investors but it has also caused tear to many. One begins to ponder if the existence of this bank is a merit or demerit to the growth of this country.
For investors who make a fortune from this institution, the norm is to know when to invest and when to cash out. In most cases, its always very easy to invest but when you want to divest, it becomes a problem like in the case of Nospecto Oil and Gas who have stopped divestment for the next two months based on a post on their notice board but the post wasn’t dated so when is the two months in question
Wonder Banks like Silver Trust have folded up carting away Million of naira of hard earned cash of Nigerian which tarnishes the image of wonder banks generally. I believe that not all wonder banks have bad intention on inception but in the case of Wealth Solution; it’s a disgrace to the wonder bank institution because they seem not to know the definition of an agreement and their operational week is the most unspecific. Wealth Solution have reduced their Payoff, using the pressure of CBN & SEC as excuse while some of the others in the same boat still retain there Payoff, then one begin to wonder if this was there agenda from the beginning. They give excuses for closing their office in Lagos due to there inability to Payoff their investors but we have to ask ourselves that if the office is closed, then how will new investors invest or are they not interested in new investors?
Anyway August 27,2007 is not far away so we hope not to hear another story this time than they have started paying week 19,let us all bear in mind that they have done it before….August 1st was the initial promise date for payoff for week 19.
Wonder Banks like Sefteg who I personally rated highly, increased there Tax deduction on ROI from 5% to 10% when the Government of Olusegun Obasanjo increased V.A.T.
This policy actually made people to believe the company was on the right track being a law abiding company thereby increasing their investor base but now they are not forth coming in Paying the ROI to investors promptly giving various excuses every time you go to their office and to make matters worse, their phone number is always unavailable. So what is the guarantee of ROI in Wonder Bank?


Anonymous said...

Is it confirmed that Wealthsolutions, Silvertrust, and Sefteg have folded up?

Anonymous said...

I dont think wealth solution has folded up because i was furtunate to see the CEO last week at Ogudu and i approached him but he explained that Banks are giving them problems as to withdrawing their funds with them. He said if they (banks) answer them they will definitely pay their investors, he said further that even his mind is not at rest for not paying people because he would like to remain in business.

My suggestion now is let us wait till August 27 before we can conclude.