sureguy02:

I guess they mean mutual funds and fixed deposits

feelamong:
I have just received this from one of my bankers....

Dear Sir/Ma,

Please be informed that there is OMO Auction today as follows:

Tenor -252 -days

Maturity date- 22/06/2017

Amount on offer- N50.00BN

Bid rate: 18.45%

Auction will close at 11.00 am (Settlement same day Debit)

We will be pleased to bid on your behalf.

Thank you for your continued patronage.

kingsilly:


what is OMO?

40manlappy:


Bros, it's better late than never. Welcome on board...

Ibukun003:
For Stanbic please.

What was the last rate?
When is the next bidding?

Thanks.

michael03:

Pls what is MMM?can u pls enlighten us

awesomeJ:

It's one of these pyramid schemes currently making waves in the country, albeit people say it's more organized than most others. One thing you'd however never be able to take away from such schemes-no matter how organized- is the high level of risk involved, another is the high potential for it to ultimately fail, given that the model lacks the fundamentals to thrive in the finance world.
Most of us who do T-bills do it for its virtually no risk involved. We'd rather be comfortable with even 12% p.a ROI with our capital guaranteed than risk our capital for rates like 360% p.a which schemes like MMM offer.
If you're willing to take the risk on MMM, just talk to people around you. I'm certain that at least 1 in 10 persons will know enough to put you through it.

P.S I do not intend to discredit MMM in any way. A lot of people are making huge cash from it. I personally have gotten a credit alert of NGN 1000.00 from it, without even participating. I am just saying we should take investment decisions based on our risk appetites.

kingsilly:
Is it possible to bid with two different bank, thinking of doing dat

l:
Result from today's Oct 5 bid
91 days - 13.9%
182 days - 17.09%
365 days - 18.25%

Moses247:
Good morning house.. when is d next auction date sef
make I De
gather d money De wait oo

michael03:
Pls can some1 tel me if am rigth,is dis how to calculate for 91 nd 182 days biddin? Let's say for eg I bidded 13% discount for 200000 naira for 91 days. Does it mean dat my discount or interest will b 13/100 *200000 = 26000 naira. Does it mean I wil get 26000 naira interest for 91days. Pls if am wrong soMe1 shuld help me out.thanks

Baboo13:

Oct 19

kings11ng:
submitted my bid of 18% for 364 @ StanbicIBTC on Friday... let's see whether ama be successful on Wednesday.

olujaidi:



The rule is-

To get the interest due for 91 days, divide by 260 by 4

To get the interest due for 182 days, divide by 260 by 2

Thus, your interest will be 65k

Ugmama:



they just returned back my money this evening o...Eco bank nawao

Annalise:


what reason did they give?

michael03:

Pls what is MMM?can u pls enlighten us

battleaxe:


His interest will be 6.5k I.e. Six thousand five hundred Naira. His principal was just 200k. This is of course ignoring any charges.

olujaidi:



The rule is-

To get the interest due for 91 days, divide by 26000 by 4

To get the interest due for 182 days, divide by 26000 by 2

Thus, your interest will be 6500

Ugmama:


Incase you want to know more about MMM, need a guider or you want to register, give me a pm

michael03:
Pls i'll like to kno mor so I can regista

Ugmama:


obviously they never wanted my benefit...i didnt bother asking them. so mad at them