First Registrars, the registrars for First Banks 2007 Hybrid offer is to reissue certificates for the offer as there have been complaints from people not receiving their share certificates. Here is an excerpt of the report by ProShare :

First Registrars Nigeria Limited, a subsidiary of First Bank of Nigeria Plc (FBN) may reissue share certificates to investors who took part in the FBN 2007 hybrid offer. Ezekiel Oni, Head of Management Services of First Registrars confirmed this to Proshare NI today in Lagos Nigeria.

This is coming on the heels of complaints by investors over the last two months or thereabout that most of them are yet to receive their share certificates and return money.

“I can assure you that if we wait for the next one month, and people are still complaining that they have not received their share certificates, we would reissue another certificate to those who had not received, the post offices are to be blamed for this development” Oni said.Prior to this time, Oni had affirmed that the problem a lot of investors are encountering is that of the Nigerian Postal System.

Following this development, First Registrars moved round the post offices to find out the true state of things. Consequent upon this, many investors had called to confirm the receipt of their share certificates. However, as at the time of filling in this report, investors are still inundating the mail box of Proshare NI with complaints of non-receipt of their share certificates of the FBN 2007 hybrid offer.

FBN in 2007 approached the Nigerian Capital Market to raise fresh funds through a hybrid offer of 1.624 billion ordinary shares of 50 kobo each at N33 per share by way of subscription, and a rights issue of 1,497 billion ordinary shares of 50 kobo at N31 per share.