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Investment › Re: Mutual Funds by Akin3891: 10:56pm On Apr 12, 2020

Franky826:
Okay guys so I logged in to my app yesterday 09/04/2020. Discovered FBN have finally paid the accrued interest starting from the 1st of April. I did shoot them a mail 3days ago.
I hope those in my shoes have received theirs?
Akin3891?

It wasn't complete though, based on my calculations. But I'll take the one I see.
Let me just blame everything of covik 1-9

Yea, I got mine too. I think the rate has dropped a bit, a day interest is missing after my calculations. I will keep eyes on them

1 Like

Investment › Re: Mutual Funds by Akin3891: 1:21pm On Apr 09, 2020

mumayo:
same here

I Wonder what is causing this procrastination from fbn quest not to have added accrued interests since 1st April, today being 9th of April, it's enough time for them to have done the needful. I'm sure stanbic and others are updating their investments , pretty bad, no email or text from them for explanation. I sent them emails, but they bounced back. Did anybody get to hear from them

Investment › Re: Mutual Funds by Akin3891: 10:22pm On Apr 07, 2020

Franky826:
Hello house.

Please who's using FBN MMF here?

Since 1st of April that FBN adjusted accrued interest for compounding and payment for others, they've not paid anything (at least on my own account/dashboard). This is quite strange. Is it cos of the Covid-19? Please any other FBN MMF subscriber experiencing same?

Same here, my quarter interest paid out already ,but nothing is adding since April 1st. I'm sure they are being overwhelmed with work at the moment, hopefully before week end,it will be sorted.

2 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 5:04pm On Apr 04, 2020

X21:
they have finally credited the interest

Thanks. Just checked , got mine too.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 3:38pm On Apr 04, 2020

OgogoroFreak:
There are lots of them here
https://www.nairaland.com/3190496/currency-e-currency-market-deals

Transact with popular users and check the blacklisted names... Just use your head else you get scammed.

To avoid stories, Simply buy through escrow services like bitcoins. Don't trust any seller

2 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 6:45pm On Apr 03, 2020

OgogoroFreak:
already bought about 22M worth of bitcoin when price for 1btc fell to about $5,000. Currently, 1btc is worth $7,000. I was able to jump the Naira devaluation with this. Hoping 1btc would now rise to $10,000 after all these wahala before I sell it off. That would be about 45M

You are a smart investor, I almost buy too. I was expecting it to get to 1.8m before I buy, poof it jumped to 2.7m. If it falls below 2m, I will buy massively. It's for the strong mind o. Once everything goes back to normal, you sure will double your capital . You are praying it goes up now, me I'm praying it crash a bit so that I can join the train... oops.. that reminds me of my trading days when you pray for ups while others pray for down.. grin

3 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 1:44pm On Apr 02, 2020

ahiboilandgas:
gt done drop since morning

First bank is now the last to drop interests, just checked and still nothing. They are the first in taking off charges, multiple charges on my accounts as at 27th March. I hope they won't come up with stories.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 1:09pm On Apr 01, 2020*

Does anyone know on which day of the month does bank drop interest on savings account? first bank haven't drop mine. Also I wonder why first bank charged me 21k plus for account maintenance fee on my current account, i wonder the measures used to charge me that high, I called the customer service but no response.

1 Like

Investment › Re: Treasury Bills In Nigeria by Akin3891: 8:37pm On Mar 28, 2020

hotdealz:
Lol, someone should send you bvn online?

Do you work with UBA bank and also in Lagos? I need to open a dorm account. Though I have a savings account with UBA already.

Send your bvn and risk being kidnapped, free doms acc without the two required references . Don't do anything financial with anyone online, eventhough they wanna help for free.

7 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 8:17pm On Mar 27, 2020

IamR:
I am the one. There is a lot going on that we don't know yet. I can't even get the money until a month's time, something that used to take 72hrs.

Beware of Eurobond!

It's well, more reason while I shunned the Eurobond thing when I was introduced, fbn quest told me that my capital is not 100% preserved. I jejely put my funds in money market, I don't want to have headaches chasing the rainbow

6 Likes

Investment › Re: Mutual Funds by Akin3891: 6:08pm On Mar 27, 2020

ernie4life:
I don't think we have gotten to that point, treasury bill returns may be low but they are still safe

Thanks, Which dollar investments is 100% capital guaranteed? I was told one funds is not 100% safe when it comes to eurobond.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 3:15pm On Mar 27, 2020

ahiboilandgas:
their is notting i no talk on the need to to hold some dollars

Yea , you analyzed it earlier. Can you suggest any dollar investments that is 100% capital save. A guy here said he lost about 1k dollars on his euro bond Investment. Which dollar investments has 100% capital guaranteed? I personally don't think that it's a great ideal to convert one funds to dollars *as at now*, then wait for the spike. People that bought dollars at 360 made the kill already, but buying at #404 might not be a good ideal

Investment › Re: Treasury Bills In Nigeria by Akin3891: 12:02pm On Mar 24, 2020

Is there any urgent need to pull out funds from fbn money market because of covid19, I've got bulky funds in that investment. This morning, i wanted to withdraw total funds,but i say to myself, let me ask for more guidance before i proceed.

Investment › Re: Mutual Funds by Akin3891: 12:00pm On Mar 24, 2020

ernie4life:
I think it's short term eurobonds that are not reliable, I can buy FGN 2049 in the next 5 years this wave will pass and prices will go back up then I can exit my position with more profit, remember that you don't need to hold till maturity.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 12:13pm On Mar 16, 2020

HillLuxury:
BUY BACK OFFER:
The buy- back option is reserved for clients who just want to do a short term investment and make profit for themselves as most monetary and financial instruments like treasury bills and fixed deposit interest are very low at the moment.

The buy-back also offer client who are skeptical about our project completion and may not want to be in our investment for the long term. It is also an exit window for any client that wishes to exit for reasons of their choice.

Grenadines Homes is offering to guarantee and buy-back your property within any of our investment options at a premium. Our premium offer depends on the investment you are willing to buy with us for period of 1 year and a rollover option for 2 years.

BUY BACK INTEREST:


N100M and above attracts 21% premium in 12 Months
‎
N50 - N100M attracts 18% premium in 12 Months.

N21m - N49M attracts 16% premium in 12 Months

N16m - N20M attracts 14% premium in 12 Months.
‎
N10m -N15M attracts 12% premium in 12 Months.

After the first year, on role over basis, buy-back interest drops to a premium of 15% flat.

Geraldine ko, pascaly ni. Go and advertise these to your village people. Radarada

12 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 8:16pm On Mar 06, 2020*

ahiboilandgas:
cause they dont have any enterprise to invest the capital or too busy with work or problematic Nigeria employees have taight them a lesson

Mr ahib, how it be for your side. Shey this dry season no dey hammer you, investments wise? I want to know if there is any investment I'm yet to exploit. For now, I'm only into mutual funds, also looking at making some interest keeping my funds in saving acc, all together gives about xxxk per month, to me this is meagre compare to my needs. I set up a dollar funds with fbn quest, but the guy told me my funds is not 100% save so i opted out. Which investments game are u in for now, kindly educate, abi shey na like this we go dey.

8 Likes 1 Share

Investment › Re: Treasury Bills In Nigeria by Akin3891: 10:30pm On Mar 02, 2020

ahiboilandgas:
Why would any body do a t.b of 2 or 3 percent for 90 days when a saving account gives 4.5 percent per month....rationality is key.....if u leave 10m in a saving accounts it generate 40k monthly (no lost bids ) while tb 23k per months so in 90 day u make 120k while tb 63k ...only if u are biding 1 year

Thanks for the info, i was at First bank today. Rate is 4.05 on savings account. I've got to move my funds from current acc to my saving acc as they claimed current acc is not entitled to any interest. At least I can manage that till tbs soar. Once again, thanks..u r d kind (genius) of friend I want to have

4 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 10:14am On Feb 28, 2020

iamloyalty:
But u said u got debited and interest has been paid

Yes, i was debited ,got my interest, spent out yesterday only to see my capital still cooling in my acc. I have even drafted my spending budget then this happens...hmm not funny

Investment › Re: Treasury Bills In Nigeria by Akin3891: 12:10am On Feb 28, 2020

So my stanbic 1 year bid didn't go through after all, they returned my capital today. What is going on.. does that mean no auction happen yesterday or all bids failed . Naija investment don tire me

Investment › Re: Treasury Bills In Nigeria by Akin3891: 7:35pm On Feb 26, 2020

DonFreshmoney:
What time today were you debited?

Wouldn't know, just checked my account this evening n can only see the meagre interest in there

Investment › Re: Treasury Bills In Nigeria by Akin3891: 7:11pm On Feb 26, 2020

It seems stanbic 364 days went through, around 5.8%. Got debited already. Gosh it sucks.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 12:40am On Feb 21, 2020

As seen on social media

The Nigerian money market has gone bunkers!

It's just crazy!

I called my account officer in GTB to enquire about deposit rates and he confirmed that GTB is offering 1% interest rates on all fixed term deposits up to 50m naira!
Meanwhile, same term deposit in a bank in Canada or US can get one at least 2.5%.

Nigerian Treasury bill (NTB) rates went down as low as 2.5%!

I checked on Stanbic-Ibtc circular this morning and long term instrument - FGN Bond rates in the secondary market is down to almost 6%.

I checked on the FGN bond primary auction results as at 19th february 2020 and the bid for the highest tenure bond is almost 600% higher than the allotted securities, which shows a lot of parties are scrambling to buy these securities with no success.
Which means many financial institutions have billions of Naira sitting idle!

Meanwhile Nigerian inflation rate as at this morning is 12.13%...

So if you have Naira sitting idle in a bank account or even in a fixed deposit, you are losing value as fast as Ben Johnson!

This is the outcome of the FGN borrowing trillions from the pension fund instead of borrowing from the public.

If this trend continues, there will be a lot of Naira chasing the USD...which means the likelihood of a market devaluation of the Naira is inevitable.

Folks with cash deposit depending on interest payouts for livelihood - just a few months ago - will be forced to dip into the principal to pay bills...in addition to suffering the devaluing effect of a 12.13% inflation.

The thrust of the FGN's tough monetary policy is clear - folks should use the money to build businesses and create employment...but the environment is a tough one to risk one's money building a business!

Yeah...It's a tough economic world in Naija today.

2 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 5:30pm On Feb 17, 2020*

RealityShot:
then why have my bids failed 6 weeks now?

No secondary offers since then.
All at first bank

Why??

President and emefiele and dmo have done well.

Let's continue to flex the capital..
I have lost 100k in just 6 weeks!!

You are a good spender, xxxk gone from my capitals withing 47 days space. So annoying.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 5:24pm On Feb 13, 2020

DonFreshmoney:
Zenith bank Asokoro

We are still waiting to hear frm people whose Tbs bids are successful recently.?

Investment › Re: Treasury Bills In Nigeria by Akin3891: 5:14pm On Feb 13, 2020

Ibrahim505:
I've diversified into buying lands, shares and also keeping a close eye over online forex trading.

The more you get close,the vague it becomes.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 1:00pm On Feb 13, 2020

ahiboilandgas:
yes oooh after a successful enterprise na tb sure pass

I haven't live a non budgeted life for some years now since I started investing in Tbs, so living such now is not fun at all , as some part of my capitals has been touched, I've always budgeted my spendings weekly,monthly etc and it's fun because I know my limits. Big part of my tbs dropped today, I NO GET CHOICE NOW,I GO MANAGE 6%, BUT THE BIG QUESTION ARE: ARE THEY STILL PRORATING? HAS ANYBODY RECENTLY SUCCESSFULLY SUBSCRIBE TO 364 days TBS? Awaiting answers, thanks.

3 Likes

Investment › Re: Treasury Bills In Nigeria by Akin3891: 5:37pm On Jan 26, 2020

zamirikpo:
U r just in my head, TB was perfect for me. And with what is happening around naija I don't see myself tying down huge funds for 3--5years, money I may need anytime from now.

My budget is done every year. I sha hope thing improve before July.

Same here, I live on yearly budgets. After getting my upfront on tbs, it covers everything for the year and I do reinvest the surplus back to same tbs. But now, things are not working according to plans, affecting everyone around me,cos if my budget is 70 naira for a week but ended up spending 55 naira, I give the remainder to family n friends who need help, i do this randomly, so this normally reduce the number of calls I get regularly for helps. @emmanuelewumi,ahib n others valuable contributors. Bonds seems a bit hard for me to crack for now but still will love to try, what do you think about putting huge funds into mmf, as in all my savings pending the time treasury Bill's will be better. My reason is that : i can pull out of mmf anytime to face tbs full time whenever it bounces back

Investment › Re: Mutual Funds by Akin3891: 12:31am On Jan 10, 2020

emmasoft:
Though I don't work with them but I needed to be of assistance to my people here. I found out that they made a mistake with the accrued interest. so in order to balance up. they have to withdraw the excess from clients account by way of redeeming the required units. If you noticed the accrued interest was invested then on the 6th there was redemption of some units. It was a mistake. I queried the person I spoke to that they should have explained to their customers. She apologized. That is how far I went with FBNQuest.. I hope this help.

I think you are right about some mistakes made by them, on 1st Jan, i received from fbn quest some amount short my accrued interest ,I emailed them about my missing interest, no reply yet,then on d 7th Jan, received the exact accrued interest I was originally expecting, making it a double payment received from them, this is kinda confusing but I'm watching how things unfold.

Investment › Re: Treasury Bills In Nigeria by Akin3891: 6:07pm On Jan 09, 2020*

OgogoroFreak:
Yes o. Mine was supposed to mature by February but it dropped on the 3rd of January and was paid in full too. Gtbank

Investment › Re: Mutual Funds by Akin3891: 11:59pm On Jan 06, 2020

Apus:
No show yet @FBN MMF. I'm beginning to run out of patience. My inflow is yet to be unitized(credited) since 31st DEC.

Fbn quest get keg, it's been 6 days now they are not adding any interest on my account, am I the only one experiencing this or is it general? Meanwhile, stanbic keeps adding up

Investment › Re: Treasury Bills In Nigeria by Akin3891: 1:00pm On Jan 06, 2020

emmanuelewumi:
If you have up to N20 million you can buy FG bonds in the secondary market

You can buy through your Stockbroker.

Thanks bro, which stockbroker can you recommend? I will like to invest in the primary market

2 Likes

Investment › Re: Mutual Funds by Akin3891: 8:49pm On Jan 05, 2020

gabby18:
Just send a mail to their customer care Dept so they can clarify these discrepancies... customercare@fbnquestmb.com

Thanks bro, will shoot them an email on Monday, someone suggested hat I mistakenly pick on my form that my interest should be dropped, hence they credited my interest minus penalty charges for early withdrawal, because my investment is not up to one month .whichever I will contact them to know whats up

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