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Stats: 2,526,380 members, 5,783,720 topics. Date: Tuesday, 11 August 2020 at 07:58 PM
|Re: Treasury Bills In Nigeria by freeman67: 10:04pm On May 28|
The account posted by Phyde is what is on the official (answers to frequently asked questions) pdf package of FGN Sovereign Sukuk 3. So I will take that to be the authentic one. For further confirmation, you can try to very the details through your Mobile App.
The account posted by Phyde is the one from FGN where you can invest direct on your while the other accout from Stanbic IBTC is that of StanbicIBTCStockbrokers Limited where you can send the money to if you want to invest through them.
2 Likes 1 Share
|Re: Treasury Bills In Nigeria by Akerewe(m): 10:11pm On May 28|
JavaSQL:what is the different between the two because I cannot understand. Kindly expatiate pls
|Re: Treasury Bills In Nigeria by olujaidi: 10:17pm On May 28|
Read the sukuk FAQs on the website of Lotus Capital as shared by someone earlier.
|Re: Treasury Bills In Nigeria by drotba(m): 10:25pm On May 28|
What the sent you is the same as what they sent me. So i suggest you make use of what they sent you.
See what they sent me below:
We acknowledge receipt of your mail.
Kindly fill the attached application form with their CSCS details and send us a clear scanned copy with evidence of payment into the account details below.
Account Number -0035763997
Account Name- SISL/FGN SOVEREIGN SUKUK OFFER 2020
Bank Name- Stanbic IBTC Bank Plc
If you do not have a CSCS account and you wish to open one with us , please fill the attached stockbroking account opening forms and forward to us along with the following supporting documents:
Valid means of identification -original sighted at the nearest Stanbic bank branch and a copy forwarded to us
Current utility bill within 3months showing their name and address- original sighted at the nearest Stanbic bank branch and a copy forwarded to us
Minimum Subscription Amount for each applicant N10,000 and in multiples of N1,000 thereafter
Thank you and do keep safe.
3 Likes 1 Share
|Re: Treasury Bills In Nigeria by Ibrahim505(m): 10:55pm On May 28|
Please does a bond investor usually got his cash back within 48 hours of filing for liquidation?
|Re: Treasury Bills In Nigeria by XiaoLi: 2:11am On May 29|
Now that countries are easing the lockdown,do you think crude price will remain thesame which will make Naira to remian in 400s?
|Re: Treasury Bills In Nigeria by OFG1(m): 4:58am On May 29|
Banks can now review the interest rate on their savings account to a min of 3.75%.
|Re: Treasury Bills In Nigeria by unite4real: 7:10am On May 29|
The bond is guaranteed while the dollar exchange rate is speculation. You do not try to mix the two in this case.
You have also assumed that the proceeds from sukuk is kept in a safe every 6 months and waiting to pile them up for 7 years. Investors do not think this way. They will reinvest the proceeds in other portfolios or income generators so as to compound it. Similarly, you also need to invest the dollar too and see what happens in 7 years. Dollar may come out better and if the naira proceed goes into some juicy stocks that happen to out perform better than expected, then it will be another story. but my argument is that your mode of comparison is not proper
|Re: Treasury Bills In Nigeria by Wiseoldman: 7:13am On May 29|
Fola Adeola's Lotus capital has an online form for this Sukuk that seems to be very easy.
|Re: Treasury Bills In Nigeria by XiaoLi: 7:22am On May 29|
Someone who invested $ will also make profit and compound.
|Re: Treasury Bills In Nigeria by unite4real: 7:30am On May 29|
Read my post again where I said dollar may come out better. It's just not a guarantee that it will
|Re: Treasury Bills In Nigeria by XiaoLi: 7:48am On May 29|
Check Naira rate to dollar for the last 14years, you will find out that it is guaranteed that someone who invested in $ will definately come out better.
5 Likes 1 Share
|Re: Treasury Bills In Nigeria by AdaoraNK(f): 7:54am On May 29|
Where will CBN get the dollars from? We aren't earning from export recently and if they have to tamper on reserve or elsewhere to supply the fx market, it will further crumble the financial sector as exposed to international settlement.
They should just allow the naria 'a free flow' to find her bearing, then we can know its exact value in international market rather than 'packaging' it to save shame.
From there the apex bank and other related MDAs will buck up and face the reality.
|Re: Treasury Bills In Nigeria by Theconglomerate(m): 8:19am On May 29|
XiaoLi:No one can give an exact answer to this,sad truth.
But then,its like the CBN is bent on doing a controlled float of her currency.
Even if oil hits 100 dollars,if the CBN don't intervene in the fx markets,nothing will happen to currency pricing and a lot of things are pointing to the fact that Nigeria is getting tired of paying subsidy on its currency in the name of intervention.
Reasons why I think the CBN and Buhari is tired of interventions;
1)MPC held yesterday in a critical time as this for fx and no one talked about any intervention on it,all they did was reduce lending rate(naira power play).
2)CBN said some weeks back that it will supply fx to BDCs only for "strategic imports".This is a very big word and can mean a lot of things.
3)CBN called on manufacturers to beef up their activities and promised to supply fx for imports of raw material and machinery,meaning the days of subsidised dollars for the imports of just about anything is over.
If you want to import rubbish,be ready to pay the price of fx gotten via very hard means
And the importers of general merchandise won't stop business because CBN no give them dollar,so they will turn to black market and overheat it,keeping the price of fx in the 400s.
|Re: Treasury Bills In Nigeria by XiaoLi: 9:17am On May 29|
Nice one tomati seller, at the bolded don't you think it will make the prices of goods to increase which will force CBN to intervene
|Re: Treasury Bills In Nigeria by Theconglomerate(m): 9:50am On May 29|
XiaoLi:The message should be clear to the masses.
Either buy Nigeria and grow the naira or buy imports and plunder your pockets,savings and pensions.
I think it's high time to ignore the masses and forget politics for once so as to build Nigeria and the naira.
Only an expensive fx can do that in our situation.
|Re: Treasury Bills In Nigeria by Grupo(m): 9:52am On May 29|
The prices of goods would msot definitely increase.
Would CBN intervene? Nobody knows.
|Re: Treasury Bills In Nigeria by pepper247(f): 10:21am On May 29|
[quote author=wura2u post=90019014][/quote]
Pls wat happens when I decide to opt out of the Suku bond after a year or two?
|Re: Treasury Bills In Nigeria by emmanuelewumi(m): 10:26am On May 29|
Nothing, you may gain or you may lose it will be determined by demand and supply in the secondary market. Probability of gaining is 80%
I will advise you to buy money market funds
|Re: Treasury Bills In Nigeria by pluto09(m): 10:31am On May 29|
If they have more dollars, CBN will most probably intervene.
The problem is that our major sources of dollars have been impacted negatively....... From low oil price to reduced remittance from Nigerians in diaspora and FPI.
|Re: Treasury Bills In Nigeria by Phyde: 12:02pm On May 29|
Akerewe:I think you can still use the bolded if you want to invest through Stanbicbroker.
|Re: Treasury Bills In Nigeria by Mills55: 1:01pm On May 29|
I just paid into this Stanbic account now 0022373451 account name is FGN ROADs SUKUK ISSUE PROCEEDS. I sent the form and payment slip to invests lotus capital limited.com.
Hope am good to go? please if there's anything I didn't get right, you people should let me know.
|Re: Treasury Bills In Nigeria by Godbpraised: 1:14pm On May 29|
Yes. But u need to pay consulation fees to some of us here.
|Re: Treasury Bills In Nigeria by Mills55: 1:16pm On May 29|
I sent a mail to firstname.lastname@example.org
|Re: Treasury Bills In Nigeria by unite4real: 1:17pm On May 29|
Should be to email@example.com
1 Like 1 Share
|Re: Treasury Bills In Nigeria by Akerewe(m): 1:23pm On May 29|
Phyde:Thanks a lot phyde for your undiluted support, I later mail them and I was told that both are genuine both they belongs to different entity within stanbic holdings. While my own belongs to stanbic stockbroker your own belongs to stanbic capital market.
Please how do you guys move huge funds through stanbic internet banking as I think the minimum per day is 1million. How can someone increase the daily limit?
Please how much is the stanbic stockbroker charges on a million for this ongoing sukuk bond?
|Re: Treasury Bills In Nigeria by Mills55: 1:28pm On May 29|
I will resend it to this address you provided now. Hope my payment went to the right account? thanks so much.
|Re: Treasury Bills In Nigeria by emmanuelewumi(m): 1:31pm On May 29|
Commissions are paid by FG
|Re: Treasury Bills In Nigeria by unite4real: 2:01pm On May 29|
I think ur money don enter voice mail. I hope u have been following our discussions on this matter. Where did u dig up that account number from. It looks like the account for the first sukuk in 2017. They have different account for every issue. The current one is called FGN ROAD SUKUK ACCOUNT ISSUE 3.
if the account you paid to didn't have issue 3, then it's wrong account. Although na government still get that account, I don't know how easy you will solve this problem.
Maybe lotus will help to access it. I hope so
|Re: Treasury Bills In Nigeria by Phyde: 2:03pm On May 29|
Akerewe:I have tried the mobile app and website to see if there is option to set my transfer limit. I did not succeed so, i decided to split my payments and save the receipts/transfer. You may need to visit the bank or still try to send mail, asking if it can be possible to set it online due to skeletal service they are offering now.
|Re: Treasury Bills In Nigeria by Dfavouredone: 2:04pm On May 29|
Rate this days eh.
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