abraolas1:


HI , Whats the minimum amount to invest in the primary market?

Fifty Million Naira Only

egojeny1:

For one year?

Yeah one year, 364 days.

abraolas1:


HI , Whats the minimum amount to invest in the primary market?

100k naira

Gavrelino123:


Yeah one year, 364 days.

That's good

abraolas1:


HI , Whats the minimum amount to invest in the primary market?

If you want to bid by yourself it's N50M but if you want to follow the banks bid, it's depend on the bank. Some na from N100k and above, some na from N500k and above while others na from N1M and above.

Evening,when is the next auction pls. And is there still secondary market

drealj:
Evening,when is the next auction pls. And is there still secondary market

The next auction may be in January. The secondary market is every working day of the week.

freeman67:


If you want to bid by yourself it's N50M but if you want to follow the banks bid, it's depend on the bank. Some na from N100k and above, some na from N500k and above while others na from N1M and above.

Thanks a lot for this

Happy Weekend Everyone

Gavrelino123:


100k naira

Hi Gav

Thanks a lot for the response

Please which bank is this if I may ask ?

abraolas1:


Hi Gav

Thanks a lot for the response

Please which bank is this if I may ask ?

You're welcome.....

I'm not very sure about the banks anymore..

I can only remember Gtbank and Access bank back then about 10 years ago.

If you're based in Nigeria, you can easily walk up to any of the aforementioned bank-branches and you will get a quality feedback from the bank's administrative service team.....
I hope this helps.

Gavrelino123:
Gt bank primary Market TB auction was successful...I got 16%.

First bank gave me 14% crazy bank.

Please anyone with information about the 6th fgn sukuk bond? I have not heard any news since I made payment.

keeper303:


Please anyone with information about the 6th fgn sukuk bond? I have not heard any news since I made payment.

That should be next year September.
It's done yearly based on past occurrences. You should have tried MTN CP @16%, ended just yesterday.

keeper303:


Please anyone with information about the 6th fgn sukuk bond? I have not heard any news since I made payment.

Contact the financial institution/house through which you subscribed for full details. Though it was oversubscribed, I think they accommodated all the retail investors. This, it means it was successful.

I don't know why they have stopped informing subscribers about the success or not of their subscription. When I subscribed SUKUK IV with Greenwich, I was not informed whether the auction was successful or not but when I sent them a mail, they replied with a proof of investment.

However, for Sukuk VI, it's either Stanbic through which I subscribed does not seem to care these days or Gen Zs have taken over the establishment. If not why wouldn't they notify me of the status of the investment? And even after the a week that I contacted them, they just casually told me it was book and that's the end.

freeman67:


Contact the financial institution/house through which you subscribed for full details. Though it was oversubscribed, I think they accommodated all the retail investors. This, it means it was successful.

I don't know why they have stopped informing subscribers about the success or not of their subscription. When I subscribed SUKUK IV with Greenwich, I was not informed whether the auction was successful or not but when I sent them a mail, they replied with a proof of investment.

However, for Sukuk VI, it's either Stanbic through which I subscribed does not seem to care these days or Gen Zs have taken over the establishment. If not why wouldn't they notify me of the status of the investment? And even after the a week that I contacted them, they just casually told me it was book and that's the end.

They are over worked and the good ones have Japa.

DigitalMallam:

That should be next year September.
It's done yearly based on past occurrences. You should have tried MTN CP @16%, ended just yesterday.

He is not looking to make a new investment, he talking about the already subscribed SUKUK VI.

There are other CP's with higher rates; like SKDL and Robust international with coronation. My issues with TB is the sudden 10% WHT they are deducting from accrued interest these days.

freeman67:


Contact the financial institution/house through which you subscribed for full details. Though it was oversubscribed, I think they accommodated all the retail investors. This, it means it was successful.

I don't know why they have stopped informing subscribers about the success or not of their subscription. When I subscribed SUKUK IV with Greenwich, I was not informed whether the auction was successful or not but when I sent them a mail, they replied with a proof of investment.

However, for Sukuk VI, it's either Stanbic through which I subscribed does not seem to care these days or Gen Zs have taken over the establishment. If not why wouldn't they notify me of the status of the investment? And even after the a week that I contacted them, they just casually told me it was book and that's the end.

Thank you for your prompt response. Some workers no longer want to do their work diligently.

Meerahbel:
They are over worked and the good ones have Japa.

I thought as much. I just discovered that except you have a direct contact of staff with them, this that used to easily done at the counter is now very difficult.

freeman67:


He is not looking to make a new investment, he talking about the already subscribed SUKUK VI.

There are other CP's with higher rates; like SKDL and Robust international with coronation. My issues with TB is the sudden 10% WHT they are deducting from accrued interest these days.

Thanks, I didn't read the request well.
I did Sukuk V last yr. It took approximately a month before the advice came through. I remember calling my broker repeatedly and they had to explain the process. Until the DMO aggregate the subscription and announce % over/under subscription in a press statement - which take btw 2-3weeks. Individual investor will have to wait.
More importantly, one won't get the exact amount subscribe, as it's usually oversubscribed to, another one week will pass before your excess money will be credited to your account.

keeper303:


Please anyone with information about the 6th fgn sukuk bond? I have not heard any news since I made payment.

When did u subscribed?

Good day house,

Pls when is the next FGN bond?

Akerewe:


When did u subscribed?

5th October, 2023 through Jaiz Bank.

Akerewe:
Good day house,

Pls when is the next FGN bond?

Please I need this answer too

freeman67:


He is not looking to make a new investment, he talking about the already subscribed SUKUK VI.

There are other CP's with higher rates; like SKDL and Robust international with coronation. My issues with TB is the sudden 10% WHT they are deducting from accrued interest these days.

Actually, it was a holiday of 10 years of no WHT on returns from T-bills since 2012 and it ended last year that is the reason the 10% WHT is back

emmasoft:


Actually, it was a holiday of 10 years of no WHT on returns from T-bills since 2012 and it ended last year that is the reason the 10% WHT is back

Wow..!! Thanks so much for the info at least I now know why.

The holiday, was it for TB alone or it included CP because I am being tax for CPs too. The most annoying part is that they will not include it in proof of investment. I actually wanted to write CP up therebbut carried away with what I was doing?

keeper303:


5th October, 2023 through Jaiz Bank.

Mail jaiz bank or go there in person, u should be advised by now. U can also call to know the status of ur bidding.

freeman67:



Wow..!! Thanks so much for the info at least I now know why.

The holiday, was it for TB alone or it included CP because I am being tax for CPs too. The most annoying part is that they will not include it in proof of investment. I actually wanted to write CP up therebbut carried away with what I was doing?

The same applies for CP.

Check this article on nairametrics Commercial papers in Nigeria in 2023: 6 key things to note

emmasoft:


The same applies for CP.

Check this article on nairametrics Commercial papers in Nigeria in 2023: 6 key things to note

Post link if possible

[/quote]te author=emmasoft post=127219471]

The same applies for CP.

Check this article on nairametrics Commercial papers in Nigeria in 2023: 6 key things to note[/quote]

Thanks, I've seen it.

RayRay06677:


Post link if possible[/b]

https://nairametrics.com/2023/11/11/commercial-papers-in-nigeria-in-2023-6-key-things-to-note/

This is fairmoney interest rate. How is this rate possible. I'm almost tempted by it

Chikebrain:
This is fairmoney interest rate. How is this rate possible. I'm almost tempted by it

Risky but possible. The Microfinance banks change interest per month and it is on flat basis and not on reducing balance basis. Some change as high as 6% per month. 6% per month is 72% P.A.

freeman67:



Wow..!! Thanks so much for the info at least I now know why.

The holiday, was it for TB alone or it included CP because I am being tax for CPs too. The most annoying part is that they will not include it in proof of investment. I actually wanted to write CP up therebbut carried away with what I was doing?

I do CPs with Meristem and they clearly state all deductions in the proof of investment letter.