Boss, is that rate not too low, not too different from TB na.

Akin3891:


Will be investing in this, I filled my form already with fbnquest. Thanks.

Akin3891:


Will be investing in this, I filled my form already with fbnquest. Thanks.

Is this rate not too low?. Why not go for United capital bond fund at 8% or investment one VGIF 7.5%?

Alaska90:



First bank has paid my interest for the month today...try and check again

GTB paid few days ago ,,,

Maybe they've decided not pay diaspora account holders because I haven't get paid.

I see something happening on the 7th of september,2 outcomes;
1)CBN will sell dollars but in small quantity,that will either not go round amongst all BDCs or will go round but in very minute quantity(this still breeds scarcity).
This will have so little impact on the price market for fx,especially with increased demand due to resumption of international travel and have rates shoot back up again to the mid 400s.
Or
2)CBN will be bold enough to release much funds and risk destroying its $35B which will totally collapse its naira las las in the long run which I know they can't risk...
OPEC is beginning to ease oil cuts which might bring down oil price again or stagnate it,which means less inflow for the CBN and we also know remittances and FDIs or FPIs are out of the picture this season.
Cheap dollar people,don't be optimistic yet,e get why
Next week will be funny,we dey wait...

It's most likely CBN will sell small quantity, currently even the BDC is now hoarding, they are now buying at N420 and selling N440 not selling N430 thereby they are holding dollar at N440 and it is likely to start going up from here.

TransAtlanticEx:
I see something happening on the 7th of september,2 outcomes;
1)CBN will sell dollars but in small quantity,that will either not go round amongst all BDCs or will go round but in very minute quantity(this still breeds scarcity).
This will have so little impact on the price market for fx,especially with increased demand due to resumption of international travel and have rates shoot back up again to the mid 400s.
Or
2)CBN will be bold enough to release much funds and risk destroying its $35B which will totally collapse its naira las las in the long run which I know they can't risk...
OPEC is beginning to ease oil cuts which might bring down oil price again or stagnate it,which means less inflow for the CBN and we also know remittances and FDIs or FPIs are out of the picture this season.
Cheap dollar people,don't be optimistic yet,e get why
Next week will be funny,we dey wait...

Comeandcollect:

It's most likely CBN will sell small quantity, currently even the BDC is now hoarding, they are now buying at N420 and selling N440 not selling N430 thereby they are holding dollar at N440 and it is likely to start going up from here.

This is why I like cartel businesses only,mumu speculators are beginning to dash aboki their money and spoiling the business.
Foolishness

Your projections last week came out wrong this week. You insisted price were not going to change.
We will wait for 7th to see how far this one will also go.

TransAtlanticEx:
I see something happening on the 7th of september,2 outcomes;
1)CBN will sell dollars but in small quantity,that will either not go round amongst all BDCs or will go round but in very minute quantity(this still breeds scarcity).
This will have so little impact on the price market for fx,especially with increased demand due to resumption of international travel and have rates shoot back up again to the mid 400s.
Or
2)CBN will be bold enough to release much funds and risk destroying its $35B which will totally collapse its naira las las in the long run which I know they can't risk...
OPEC is beginning to ease oil cuts which might bring down oil price again or stagnate it,which means less inflow for the CBN and we also know remittances and FDIs or FPIs are out of the picture this season.
Cheap dollar people,don't be optimistic yet,e get why
Next week will be funny,we dey wait...

@TransAtlanticEx, many of your points about our economy are clear and irrefutable, but you are a very temperamental person and uses lots of derogatory words on people, making your supposed high points childish and completely useless to your audience who would have learnt from your wealth of experience.

Insults are the last resort of insecure people with a crumbling position trying to appear confident.

TransAtlanticEx:
I see something happening on the 7th of september,2 outcomes;
1)CBN will sell dollars but in small quantity,that will either not go round amongst all BDCs or will go round but in very minute quantity(this still breeds scarcity).
This will have so little impact on the price market for fx,especially with increased demand due to resumption of international travel and have rates shoot back up again to the mid 400s.
Or
2)CBN will be bold enough to release much funds and risk destroying its $35B which will totally collapse its naira las las in the long run which I know they can't risk...
OPEC is beginning to ease oil cuts which might bring down oil price again or stagnate it,which means less inflow for the CBN and we also know remittances and FDIs or FPIs are out of the picture this season.
Cheap dollar people,don't be optimistic yet,e get why
Next week will be funny,we dey wait...

ojesymsym:
No, interest is to be paid at the end of July and December (every 6 months)
It is more or less a savings account with the interest rate stated but paid 2wice a year.

Emma come and continue your work abeg, u non de share salary with me

c
Got it now. Thank you.

dru23:


16,500k naira.... We have few left so hurry before it gets sold out

How about 0w20?

Donbrig:
@TransAtlanticEx, many of your points about our economy are clear and irrefutable, but you are a very temperamental person and uses lots of derogatory words on people, making your supposed high points childish and completely useless to your audience who would have learnt from your wealth of experience.

Insults are the last resort of insecure people with a crumbling position trying to appear confident.

I'm sorry sir,sorry.

ojesymsym:
Your projections last week came out wrong this week. You insisted price were not going to change.
We will wait for 7th to see how far this one will also go.

Which of my projection was wrong?

Did conglomerate just say sorry to sombori or my eyes de deceive me? Make I use onions rub my eyes before I come check again.

TransAtlanticEx:
I'm sorry sir,sorry.

The BDCs are winning again, speculators are rushing to sell off thereby crashing the price, the BDCs are buying massively, infact one told me this evening he needs dollars massively, they are buying and hoarding, despite CBN memo to begin sales next week!
Anyway we are waiting for them to crash it to CBNs 386 so we can buy and hoard too lol.

chigo4u:
The BDCs are winning again, speculators are rushing to sell off thereby crashing the price, the BDCs are buying massively, infact one told me this evening he needs dollars massively, they are buying and hoarding, despite CBN memo to begin sales next week!
Anyway we are waiting for them to crash it to CBNs 386 so we can buy and hoard too lol.

una follow dey spoil naija.. no be tommorow now, una go dey point accusing fingers on some politicians

Donbrig:
@TransAtlanticEx, many of your points about our economy are clear and irrefutable, but you are a very temperamental person and uses lots of derogatory words on people, making your supposed high points childish and completely useless to your audience who would have learnt from your wealth of experience.

Insults are the last resort of insecure people with a crumbling position trying to appear confident.

on the contrary insecure people instead of taking good points, rather take offense at the perceive tone of the messages.

TransAtlanticEx is obviously filled with pragmatic business IQ the kind you don’t learn in school. If I debate with him or people like him, they can insult me till tomorrow if what they say is pertinent I am taking the points Raised home. Just saying

seankafor:
una follow dey spoil naija.. no be tommorow now, una go dey point accusing fingers on some politicians

So cbn is not spoiling naija with their low interest on savings, low interest on tbills, unfavorable business environment, it’s Nigerians that are trying to secure their wealth that are spoiling naija. Keep waiting. Dangote is already devesting to secure his wealth, keep waiting for naija to get better

Afr0mentalist:
on the contrary insecure people instead of taking good points, rather take offense at the perceive tone of the messages.

Character comes before talent and it has nothing to do with insecurity. You may be wiser than Aristotle but if you lack emotional intelligence you can't go far. No one is being insecure here by telling the guy the truth.

Tvegas:
Character comes before talent and it has nothing to do with insecurity. You may be wiser than Aristotle but if you lack emotional intelligence you can't go far. No one is being insecure here by telling the guy the truth.

Exactly!

Tvegas:
Character comes before talent and it has nothing to do with insecurity. You may be wiser than Aristotle but if you lack emotional intelligence you can't go far. No one is being insecure here by telling the guy the truth.

Exactly, they see hausa man in his caftan monday to friday and think he is mumu, they are the ones making huge dough, imagine speculators sell to mallam, cbn sell to mallam.

Who is really hitting profits, as we all know na mallams. Nigeria has too much Naira in the system, the only way we can have dollar is by earning it.

From now till the next 6 months we can't earn enough neither can we print dollar even when covid goes, it will persist,

TransAtlanticEx:
This is why I like cartel businesses only,mumu speculators are beginning to dash aboki their money and spoiling the business.
Foolishness

emrino:

How about 0w20?

All out of it ... 0w20 and 5w20 tend to be more expensive than 5w30 ...keep that in mind

Comeandcollect:
Exactly, they see hausa man in his caftan monday to friday and think he is mumu, they are the ones making huge dough, imagine speculators sell to mallam, cbn sell to mallam.

Who is really hitting profits, as we all know na mallams. Nigeria has too much Naira in the system, the only way we can have dollar is by earning it.

From now till the next 6 months we can't earn enough neither can we print dollar even when covid goes, it will persist,

This is the same reason why ABCON chairman keep peddling fear in the minds of people,singing how speculators are going to lose bla bla bla...
Wetin concern am?
Is it his money?They just simply wanna scare people to come sell them cheap dollars so they can profit and make a killing.
If speculation was run by a cartel,them no born them well to try this their rubbish tactics cos no one will sell to them.
But they are winning now cos most of the dollar is held by unorganised,uncalculative,daft,random people.
Let's see what monday brings

talk2tonie:


Is this rate not too low?. Why not go for United capital bond fund at 8% or investment one VGIF 7.5%?

Thanks. The last time I asked of a bond funds from fbnquest, the interest is high but capital isn't guaranteed, so I presume it will be same with United capital, is it?

And that VGIF thing, I understand it's being run by investments one but I don't know how secured and reliable it is, I don't want to lose a bit of my capital because I'm investing huge funds, hence I'm looking for a secured investment eventhough the return is low.

Akin3891:


Thanks. The last time I asked of a bond funds from fbnquest, the interest is high but capital isn't guaranteed, so I presume it will be same with United capital, is it?

And that VGIF thing, I understand it's being run by investments one but I don't know how secured and reliable it is, I don't want to lose a bit of my capital because I'm investing huge funds, hence I'm looking for a secured investment eventhough the return is low.

I can tell you categorically that in VGIF your capital and interest is guaranteed/secured it's the nature of the fund.
It's a unique form of mutual fund that guaranteed interest. it's not daily valued like others but bench marked with SDF (standard deposit facility) which is currently 7.5%.
Another unique feature is that any gain of the fund above the bench marked interest is shared among the investors.
The investors stand a chance of getting 35% of the extra gain of the fund.
Apart from being a sales rep I have run it for about six years and no regret.

VGIF Fund Fact
Minimum Subscription: N50,000 Additional investment can be made in multiples of N1.00
Fund Objective: To provide capital preservation and a stream of guaranteed income
Financial Year End: December
Fund Category: Fixed Income
Asset Classes: Money Market, Fixed Income and Equities
Fund Manager: Investment One Funds Management Limited
(A subsidiary of Investment One Financial Services Limited)
Fund Trustees: FBNQUEST Trustees
Fund Custodian: Citibank Nigeria Limited.
Fund Registrars: Investment One Funds Management Limited
Nominees: Stanbic IBTC Nominees Limited
Bank: Citi Bank Nigeria Ltd
Bank Account Name: FBNQUEST TRUSTEES/ VANTAGE GUARANTEED INCOME FUND
A/C NO: 0012706049
Features Benefits
VGIF offers a guaranteed return which is benchmarked against SDF (Standard Deposit Facility)
Returns are paid in January and July.
The return on investment is not subject to withholding tax.
Investors may also earn an additional yield equal to 35% of the net income of the Fund
The investment can be used as collateral for loan from banks.

To open account and help my ministry, click on the link on my signature. Everything is done online. You can call/chat if you need more clarifications.
I can also send you my voice notes for you to listen and make informed decisions.

N.B: Investment one will never ask for cash to open any of the products account.

Thesame here, i am getting 3-5% interest from First Bank private banking but i am ok with that rather than investing with high yield investment firms which i don't know how secure they are. #The preservation of my capital remains my top priority.

Akin3891:


Thanks. The last time I asked of a bond funds from fbnquest, the interest is high but capital isn't guaranteed, so I presume it will be same with United capital, is it?

And that VGIF thing, I understand it's being run by investments one but I don't know how secured and reliable it is, I don't want to lose a bit of my capital because I'm investing huge funds, hence I'm looking for a secured investment eventhough the return is low.

Akin3891:


Thanks. The last time I asked of a bond funds from fbnquest, the interest is high but capital isn't guaranteed, so I presume it will be same with United capital, is it?

And that VGIF thing, I understand it's being run by investments one but I don't know how secured and reliable it is, I don't want to lose a bit of my capital because I'm investing huge funds, hence I'm looking for a secured investment eventhough the return is low.

With the FBNQuest fixed income fund, your capital is not preserve. However, with the United capital bond fund and investment one VGIF, your capital is preserve. I have been on them for some months now and it has been smooth.
I understand where you are coming from and I respect your decision. Please stick to what makes you comfortable.
Happy investing.

emmasoft:


I can tell you categorically that in VGIF your capital and interest is guaranteed/secured it's the nature of the fund.
It's a unique form of mutual fund that guaranteed interest. it's not daily valued like others but bench marked with SDF (standard deposit facility) which is currently 7.5%.
Another unique feature is that any gain of the fund above the bench marked interest is shared among the investors.
The investors stand a chance of getting 35% of the extra gain of the fund.
Apart from being a sales rep I have run it for about six years and no regret.

VGIF Fund Fact
Minimum Subscription: N50,000 Additional investment can be made in multiples of N1.00
Fund Objective: To provide capital preservation and a stream of guaranteed income
Financial Year End: December
Fund Category: Fixed Income
Asset Classes: Money Market, Fixed Income and Equities
Fund Manager: Investment One Funds Management Limited
(A subsidiary of Investment One Financial Services Limited)
Fund Trustees: FBNQUEST Trustees
Fund Custodian: Citibank Nigeria Limited.
Fund Registrars: Investment One Funds Management Limited
Nominees: Stanbic IBTC Nominees Limited
Bank: Citi Bank Nigeria Ltd
Bank Account Name: FBNQUEST TRUSTEES/ VANTAGE GUARANTEED INCOME FUND
A/C NO: 0012706049
Features Benefits
VGIF offers a guaranteed return which is benchmarked against SDF (Standard Deposit Facility)
Returns are paid in January and July.
The return on investment is not subject to withholding tax.
Investors may also earn an additional yield equal to 35% of the net income of the Fund
The investment can be used as collateral for loan from banks.

To open account and help my ministry, click on the link on my signature. Everything is done online. You can call/chat if you need more clarifications.
I can also send you my voice notes for you to listen and make informed decisions.

N.B: Investment one will never ask for cash to open any of the products account.

Are you really sure the capital is safe? Why do they ask for ones "risk tolerance" level while filling the form?

Now this is very very bad and totally unpatriotic...now i see that apart from leadership reformation, the citizens of Nigeria also need to be totally reorientated.

naijaoyibo:
It was exploited by a lot of people. They made arrangements with some shady universities overseas. Use the invoice to source USD from the CBN. Pay tuition for a number of ghost students. Once the money hits the overseas account of the university, re-channel the money back to Nigeria and sell at the black market rate. Rinse and repeat a couple of times and you are a millionaire already. I read the story here on Nairaland by a very popular nairalander who executed this scheme for many months.

OgogoroFreak:
Are you really sure the capital is safe? Why do they ask for ones "risk tolerance" level while filling the form?

Capital is Safe. Like I said in my earlier post I have first hand experience in the past almost six years.
They ask such question because it's the usual assessment when starting any investment product. They need to ask so that you can be guided properly. If your risk level is low it means product like VGIF is very adequate for you. If otherwise you can be asked to add riskier investment products like stocks. For instance your risk tolerance is low and you are going for an equity fund or stocks you will definitely be adviced to go for VGIF or Abacus money market fund. So Sir no fear just click on the link on my signature and open your VGIF if you have not done that and I promise you will be happy you did. You can also call me 08181057319

For those that complained about interest on savings account not paid by First Bank I hope you have seen it now. If not you can send First Contact a direct message through their Twitter handle or send them a mail.

The naira exchanged to the dollar at the parallel market at N420/$ on Wednesday, following the interventions made by the Central Bank of Nigeria in the Investors and Exporters window.

Prior to CBN’s renewed intervention in the I&E window on Monday, the naira exchanged for as high as N480 to the dollar.

Speculators in Nigeria’s foreign exchange market would count huge losses as the naira continued to surge against the dollar, experts have said.

The CBN had said that it would also resume the sale of foreign exchange to operators of Bureau de Change from September 7.