Just wondering, if one invests, rather...deposits, let's say; 1 Million into a fixed deposit account, how much can one generate monthly or quarterly (depending on the interest rate)

Is it advisable to deposit such huge sum of money into a fixed deposit, or would it be better, to invest elsewhere?

depends on the bank but from what i knw, no bank will give you more than 9% per year and thats depending on your money and bargaining power.

Access Bank pays d highest about 14% ,you can visit any of their nearest branch to enquire .

Kingsteve: Just wondering, if one invests, rather...deposits, let's say; 1 Million into a fixed deposit account, how much can one generate monthly or quarterly (depending on the interest rate)

Is it advisable to deposit such huge sum of money into a fixed deposit, or would it be better, to invest elsewhere?

cometozizo: Access Bank pays d highest about 14% ,you can visit any of their nearest branch to enquire .

I actually visited one of their branches to inquire about it, they told me it was around 5.something to 6%...wasn't impressed!
Same as Diamond Bank!
I think the % also depends on the amount, the higher the amount, the higher the interest rate.

Couldn't really be bothered anyway...not worth it!

Kingsteve: Just wondering, if one invests, rather...deposits, let's say; 1 Million into a fixed deposit account, how much can one generate monthly or quarterly (depending on the interest rate)

Is it advisable to deposit such huge sum of money into a fixed deposit, or would it be better, to invest elsewhere?

Well, it is a good idea to fix where u have more of interest rate for a return on investment , however, if u can invest in a reputable Finance House u will earn more than whhat any bank could offer u cos they more exposed to business than banking due to d higher demand of their product in d financial market.... In my office we can give up to 18 percnent rate for minimum 90 days for Term deposite and some time may be lesser depending on CBN directory as at d time u come in to business with us .

cometozizo: Access Bank pays d highest about 14% ,you can visit any of their nearest branch to enquire .

It's not as safe as FGN securities, though.

Access bank (14%), I doubt this..I visited ard march and was told 3% in their allen branch...anyway pls shed more light on fgn securities..wich bank can I approach to get this

Seun: It's not as safe as FGN securities, though.

Wats d name of ur finance house and wats d minimum balance..

honprof1:

Well, it is a good idea to fix where u have more of interest rate for a return on investment , however, if u can invest in a reputable Finance House u will earn more than whhat any bank could offer u cos they more exposed to business than banking due to d higher demand of their product in d financial market.... In my office we can give up to 18 percnent rate for minimum 90 days for Term deposite and some time may be lesser depending on CBN directory as at d time u come in to business with us .

Its better to be a part of a cooperative if you want to invest.my cooperative gives me 20% ROI and the dididends are paid twice a year..its 4 yrs old ...call me on 08131114418 for more info..

@ nicole24

Kindly tell us more about your cooperative.

Seconded!

Cooperative FAQs


What is the minimum amount for monthly savings?

The minimum monthly savings is N5,000

What is the minimum amount for share capital investment?

The minimum share capital investment varies based on value appreciation per share which shows profit made in the quarter before. The current share capital minimum is N55,000

What does share capital investment mean and what does it cover?

The share capital investment is cooperators' shares in the organization which is aimed at taking part in various investment vehicles, currently in trading, real estate and transportation. Dividends are declared after 6 months of members' investments.

Can I participate in share capital investment anytime?

You can only participate in the share capital investment in 4 months of the year: January, April, July and October.

Can I be a part of the cooperative with an expired privilege pack?

Yes, you can join the cooperative with an expired privilege pack, as long as it did not expire longer than 3 months ago. Please note, you will only have 3 months to renew your Privilege Pack from the date it expired or you will be requested to leave the A2W Coop.

When do I qualify for a loan?

You qualify for a loan after 6 months of making consistent savings

When do I receive dividends on my share capital investment?

Dividends on share capital are declared and paid twice a year, January and July.

If I default in paying my savings in a particular month, can I pay arrears in the next month?

No, you cannot pay in arrears; whichever month's savings was not made is gone, you're just advised to continue with subsequent months.

Does the cooperative have regular meetings where we receive updates? If yes, how often?

Yes, the cooperative holds regular meetings when necessary in Lagos; and minutes of meeting will be sent to all members including those who are unable to attend either by location or for any other reason.

Is my share capital investment dependent on my rank in Avenues to Wealth?

Yes, for every rank in Avenues to Wealth, there's a limit to how much you can invest in the share capital (Maximum for Paid Affiliate = N550, 000; Maximum for Bronze = N2, 200,000; Maximum for Silver = N11,000,000; Maximum for Gold = N22,000,000; Maximum for Platinum = N55,000,000)

How do I exit from the cooperative?

You exit from the cooperative by writing a letter to the management indicating your intention to discontinue your membership.

How much time notice do I give if I want to exit the cooperative?

You need to give a minimum of 3 months notice for share capital investment and 1 month's notice for savings to the cooperative management to allow for proper account collation and records.

What is the service charge to be paid on loan?

The service charge to be paid on loan is 1% per month.

Do I have an option of choice as to what vehicle my share capital investment goes?

For now, all investments go into the same vehicle. Possibly, with time, options can exist where members can choose.

What does it take to be a member of the cooperative?

You must be a distributor of Avenues to Wealth, pick up a form or download online and pay the registration fee, and then you can commence the savings and share capital investment if it's the month for it and you're interested.

Apart from monthly savings and share capital investment, are there any other levies to be paid as a cooperator?

No, there are no extra levies to be paid as a cooperator.

What are the criteria for getting a loan?

You must have paid your monthly savings consistently for 6months; you must produce 2 guarantors who are also members of the cooperative and each have at least the amount of loan you want to take as loan in share capital.

Who owns the cooperative?

The cooperative is owned by the members of the cooperative, a.k.a the cooperators.

Is the cooperative registered legally by any regulatory authority?

Yes, the cooperative is registered by Lagos State Ministry of Agriculture and Cooperatives.

What is the interest rate /ROI on share capital investment?

There's no fixed interest rate/ROI on share capital investment. ROIs are based on profits made from businesses/investments made. There is no guaranteed income.

Is profit shared on savings?

Yes, at the end of the year, during Annual General Meeting, profit is shared on savings based on service charge on loans and group buys, no fixed percentage as well.

If I've cumulatively saved up to N55,000, can I move it to share capital investment?

The cooperative from time to time, calls for members who are interested in moving their savings into share capital to do so. At such times, cooperators who have saved up to the minimum share capital investment can do so. This also means you'll start making your savings afresh.

For the share capital investment, does the value per share remain constant all through the year?

As business is done with cooperators' funds and profit is made, the value per share of the investment appreciates with time. If a loss is recorded, the value drops as well.

What does "Fractional Property Ownership" mean?

Fractional Property Ownership refers to ownership of a fraction of a real estate investment either locally or globally. This is achieved when members' funds are pooled together towards a big deal, and when the property is rented out or sold, members make returns based on the amounts they have in the investment.

What is the penalty for inconsistent payment of monthly savings?

Inconsistent payment of monthly savings will affect value of money to be received during profit sharing and ease of loan processing.

Can I increase/upgrade my monthly savings? What are the requirements to effect that?

Yes, monthly savings can be increased or upgraded. A simple mail to the cooperative stating such intention will suffice.

Can I add to my share capital investment? If yes, how often?

Yes, you can add to your share capital investment in any of the 4months stated for that to be done: January, April, July and October.

Can I make bulk payments in advance for monthly savings?

Yes, bulk payments can be made in advance for monthly savings.

Can I reduce my monthly savings in any month?

Yes, you can, but the minimum savings to be paid in any month remains N5,000

Business Opportunities

Edo north is known for solid minerals.From limestone,calcite,dolomite etc.So many quarries spread across the area mining and distributing raw materials all over nigeria.
There are so many business opportunities down here,i wld just give an insight on the compressor.Its a smalll machine of different sizes used in drilling holes into rocks b4 blasting.It has always been in high demand here since the 90s and has never been enough,u even have people booking for night work.
There are different types and prices,its even cheaper buying it abroad and bringing into 9ja.ATLAS COPCO which is the best around here(availability of parts and strong lasting engine) its summarily 1.2million naira (a foreign used one)
In the cities (e.g port harcourt) hiring a compressor is abt 30k a day but u aint guaranteed every day hiring.Its a rural area here so the price here is 10k a day for the owner and its a day to day hiring.
The machine isnt the type dat gives problems easily especially when its foreign used and not nigerian used.
We buy in lagos and bring down to Edo state in a pick-up van or dyna.

Here is the deal: I do supply of limestone bolders to lagos and want to do the compressor business also,which wld indirectly stop me from struggling to hire.I need either a partner to put money together buy one and split profit or someone that wld buy alone and i manage for.
Any interested person can come around to the sites,see things first-hand before agreements a reached.
You can contact me: strongedition@yahoo.com or call 07085769071


I hope this wld do and other people cld find opportunities here too like owning quarries,lands that contain solid minerals,911 and 1822 tippers for hauling within the premises,it dosnt require ur tipper or trucks traveling long distances and risking accidents and frustrating break-downs.
We can start something even more solid and long lasting depending on the interest.
We can achieve something together.
Cheers.

The thread has been hijacked.

Why do u just like to extort money from good Nigerian , where we have the Bad governors u can go and scam them but not here . What kind of cooperatives pays that in this Nigeria . I smell scammmm

nicole24: Cooperative FAQs


What is the minimum amount for monthly savings?

The minimum monthly savings is N5,000

What is the minimum amount for share capital investment?

The minimum share capital investment varies based on value appreciation per share which shows profit made in the quarter before. The current share capital minimum is N55,000

What does share capital investment mean and what does it cover?

The share capital investment is cooperators' shares in the organization which is aimed at taking part in various investment vehicles, currently in trading, real estate and transportation. Dividends are declared after 6 months of members' investments.

Can I participate in share capital investment anytime?

You can only participate in the share capital investment in 4 months of the year: January, April, July and October.

Can I be a part of the cooperative with an expired privilege pack?

Yes, you can join the cooperative with an expired privilege pack, as long as it did not expire longer than 3 months ago. Please note, you will only have 3 months to renew your Privilege Pack from the date it expired or you will be requested to leave the A2W Coop.

When do I qualify for a loan?

You qualify for a loan after 6 months of making consistent savings

When do I receive dividends on my share capital investment?

Dividends on share capital are declared and paid twice a year, January and July.

If I default in paying my savings in a particular month, can I pay arrears in the next month?

No, you cannot pay in arrears; whichever month's savings was not made is gone, you're just advised to continue with subsequent months.

Does the cooperative have regular meetings where we receive updates? If yes, how often?

Yes, the cooperative holds regular meetings when necessary in Lagos; and minutes of meeting will be sent to all members including those who are unable to attend either by location or for any other reason.

Is my share capital investment dependent on my rank in Avenues to Wealth?

Yes, for every rank in Avenues to Wealth, there's a limit to how much you can invest in the share capital (Maximum for Paid Affiliate = N550, 000; Maximum for Bronze = N2, 200,000; Maximum for Silver = N11,000,000; Maximum for Gold = N22,000,000; Maximum for Platinum = N55,000,000)

How do I exit from the cooperative?

You exit from the cooperative by writing a letter to the management indicating your intention to discontinue your membership.

How much time notice do I give if I want to exit the cooperative?

You need to give a minimum of 3 months notice for share capital investment and 1 month's notice for savings to the cooperative management to allow for proper account collation and records.

What is the service charge to be paid on loan?

The service charge to be paid on loan is 1% per month.

Do I have an option of choice as to what vehicle my share capital investment goes?

For now, all investments go into the same vehicle. Possibly, with time, options can exist where members can choose.

What does it take to be a member of the cooperative?

You must be a distributor of Avenues to Wealth, pick up a form or download online and pay the registration fee, and then you can commence the savings and share capital investment if it's the month for it and you're interested.

Apart from monthly savings and share capital investment, are there any other levies to be paid as a cooperator?

No, there are no extra levies to be paid as a cooperator.

What are the criteria for getting a loan?

You must have paid your monthly savings consistently for 6months; you must produce 2 guarantors who are also members of the cooperative and each have at least the amount of loan you want to take as loan in share capital.

Who owns the cooperative?

The cooperative is owned by the members of the cooperative, a.k.a the cooperators.

Is the cooperative registered legally by any regulatory authority?

Yes, the cooperative is registered by Lagos State Ministry of Agriculture and Cooperatives.

What is the interest rate /ROI on share capital investment?

There's no fixed interest rate/ROI on share capital investment. ROIs are based on profits made from businesses/investments made. There is no guaranteed income.

Is profit shared on savings?

Yes, at the end of the year, during Annual General Meeting, profit is shared on savings based on service charge on loans and group buys, no fixed percentage as well.

If I've cumulatively saved up to N55,000, can I move it to share capital investment?

The cooperative from time to time, calls for members who are interested in moving their savings into share capital to do so. At such times, cooperators who have saved up to the minimum share capital investment can do so. This also means you'll start making your savings afresh.

For the share capital investment, does the value per share remain constant all through the year?

As business is done with cooperators' funds and profit is made, the value per share of the investment appreciates with time. If a loss is recorded, the value drops as well.

What does "Fractional Property Ownership" mean?

Fractional Property Ownership refers to ownership of a fraction of a real estate investment either locally or globally. This is achieved when members' funds are pooled together towards a big deal, and when the property is rented out or sold, members make returns based on the amounts they have in the investment.

What is the penalty for inconsistent payment of monthly savings?

Inconsistent payment of monthly savings will affect value of money to be received during profit sharing and ease of loan processing.

Can I increase/upgrade my monthly savings? What are the requirements to effect that?

Yes, monthly savings can be increased or upgraded. A simple mail to the cooperative stating such intention will suffice.

Can I add to my share capital investment? If yes, how often?

Yes, you can add to your share capital investment in any of the 4months stated for that to be done: January, April, July and October.

Can I make bulk payments in advance for monthly savings?

Yes, bulk payments can be made in advance for monthly savings.

Can I reduce my monthly savings in any month?

Yes, you can, but the minimum savings to be paid in any month remains N5,000

We currently offer 5% at AIICO


07067025384