₦airaland Forum

emmanuelewumi:
Fixed Income Fund of FBN Quest Asset Management currently pay 13.2%, the fund invests in FGN bonds, Sukuk, FGN savings bonds, States bonds and corporation bonds.

Minimum investment is just N50,000 and the minimum holding period before you can sell is 90 days.

I know others but sukuk i don't know. Sir, What is sukuk? Right now my finance is a bit messy cos i have planned n budgeted all expenses for the next two years on tbs but things are not going as planned, i love to live a budgeted life, hate to tap into my capitals. My question is, will FG bonds be available come Feb/March next year? That's when I'm mopping up all my tbs. Will love to buy FG bonds in d primary market

zamirikpo:
My bid was for 4m and I was debited 334k ,this thing isn't funny anymore.

So what's the face value Now, maybe 400k. Haba..

Last two weeks the same thing. Now they have scattered the money for me and also my plans.

The BM of stanbic didn't even know what to say.
This is pure stupidity. Would have been better it failed entirely.

Fingers are crossed let me see what the secondary market has on offer tomorrow

Things are getting pretty bad, my bids with stanbic for 91 days didn't even fly, my capital remains untouched in my acc. Now to learn that you were only debited 334k for 4m bills is quiet discouraging. Obviously, we are in a bad time and i hope things get back to shape soon.

freeman67:
All of them coming here to tell people about raising financial models and running many businesses that has not failed are just setting traps waiting for their potential bush meat to enter. They now know many people here have capital looking for where to invest so they want to use that opportunity to dupe people.

Some ntb investors will be broke by the time rate increase, their so called calculated risk free businesses would have failed them, if you invest all or big part of your funds in a business you are not familiar with, you are liable to go bankrupt, not because the said business is not profitable, but because the eagerness, fear, etc imputed in it can easily ruin the business, but it's advisable to use interests realized through tbs to start your choice of business, thereafter you grow it with the same proceeds from tbs. To gather funds is hard but to squander them is very easy

amjustme2:
Punch and their unbaked news will not spoil my mood.

You can't even trust a newspaper report anymore.

Currently at first bank, the lady realized I've been frequently moving some funds out to stanbic, she said pls stop oga, i will do primary market for you, tbs is back now, that is after she kept telling me all tru last week that cbn had put a stop to it. I think my sweet ntb is fully back now

zamirikpo:
No shaking my people , it was just some OLODO reporter .

TB us still very much available to both individuals and small firms

Was at stanbic today, was told i can invest in primary, but no secondary market available . As the dust settles, secondary markets should be back soonest.

ahiboilandgas:
yes, on the advert page they select a combination of banks and discount houses ...mainly teir 1 banks but I be local chap na bank I prefer

Cool, i prefer bank too. Like to go real analog when it comes to money. What is the minimum to invest in FG bond?, not saving bond. Which bank did you buy yours from? My overall tbs investments will drop next year February, so i want to get well prepared. Thanks

mumayo:
anyone purchased Tbills yesterday. I need idea on recent rates.

No more tbs, I'm at first bank right now, the guy said they got a message frm cbn yesterday not to accept individual investments, both on secondary n primary markets, is this the END? He said its in d news already

ahiboilandgas:
example if na 15 your yearly profit is 7.5m paid twice 3.75m is credited to your account ever six month for 5 years or 10 years (duration of the bond )...the difference is t.b is off front while bond like fixed deposits credit is bi annually or quartyly (saving bond ) ....which this 5 years out to worry about cbn and rate ...just be reinvesting the coupons in mmf or tb or fixed deposit and continue your work

So for example, if my total intrest for 5 yrs is 25 mils. I will receive 2.5 mils every six months for 5 yrs circle,. For 25 mils investment on FG saving bond will be paid quarterly, 1.250 mils per quarter. Correct? Can one buy bonds directly from the bank or is it only investments house that issue them? Thanks

ahiboilandgas:
the money we are investing is coming from the real sector ...abi na from tree we dey pluck am.....a fleet of 20 trucks is enough real sector na ...other are working and earning and investing in tb....others are using the interest from t.b to build houses ,pay school fees ,buy food stuff ....indirectly creating jobs and stimulating the economy......cbn gov na idoit

U dey mind the guy, mr gurumaraji that want to teach businesses in real economy . I don't even have one kobo strength to answer any quotes that r not aligned with my mindset ,i talk less but act more

IamR:
I am ready sir. In fact, I am in Lagos now. The moment I read the news this morning, I lost my appetite. I couldn't even eat the refreshment Airpeace served me.

Same thing with my wife, she just keeps hissing, like wht will happen to her salary now. Still hoping the news is fake,one of my tbs matured today, didn't even bother to visit the bank for reinvestment,will be there tomorrow to try my luck.

zamirikpo:
.....

Don't give urself HBP....water must find it's level.

Pretty bad, I'm hypertensive already during my intense hustling days, not to die from it quickly make me to shun nigeria businesses for sometimes now, to avoid story that touch, hence my love for tbs is deep,but if FG deny us of this risk free investment,we sure gonna find ways out. Las las, we all gonna be alright

ahiboilandgas:
Just curious why is only punch reporting the stoppage?cos some reporters don't even understand omo and primary markets including some banker ....any other source?

I think so too, make we wait until we confirm from the horses mouth, cbn. After all, cbn made a clarification btwn OMO n tbs some days ago, having realized some people mistake omo with tbs

ahiboilandgas:
Guys invest in federal govt bond now ,before it might be too late cos that the next targets

How does the FG pay coupons on bonds, twice a year or four times? I believe it starts from 50m, say i invest 50m for 5 years, what is the breakdown of coupons yearly? Thanks

Jejebabaa:
You welcome.
If you use GTB, this might help both whatsapp and contact details is there. Afterall, our own CBN still allows foreign investors in OMO and treasury bills so Ghana should allow us too as foreign investors.
http://www.gtbghana.com/home/services/banking-services/treasury-bills/

Gosh, can i cope without tbs? My ten years budgets are drafted on this investment . I'm thinking hard now , maybe time to chanel some money to Ghana tbs , i once made enquiry from a bank over there, they accept foreigners but you need a resident permits to open an account, some money to stanbic dollars funds, some to Fg bonds, some to real economy ( transportation, insured Toyota siennas for inter-state, 10 keke will roll in 4m annually ). I'm hoping this new cbn policy will be a blessing in disguise . Thinking hard

Viqtour:
Good day house.

I was lucky to see 11.5% for 359 days today at First Bank. I did it and I was duly debited. However, I normally receive my upfront by 4pm but I've not been credited till now.

Fellow investors, has anyone experienced this recently with FBN?

Cool, this is the kind of news i want to read on here, not the unreasonable arguments that littered the previous pages. Have you finally received your interest? Anyone that has successfully invest in secondary market should please share their experiences. Good luck n God bless us all. Mr. Ahib, i salute you for your immense n valuable contributions to this thread, your posts are eye opener for the young and mighty investors. you are a rare gem, God bless u.

IamR:
I did Eurobond with FBNQUEST. I will make some findings about Stanbic IBTC Dollar Fund. Thank you.

Wht are d rates? N Wht r d procedures to invest? It's been Tbs for me for years, it's sweet to have ur profits all at once, then you know how to cut d cakes. FG bonds is not cool with me because of the break down of coupons, i do invest 50% of my yearly profits in tbs in another bizz, hence keeping all funds with the FG is not suitable for me.

Infinitisi:
With this rates may even drop further

Yea, seems so. Because the more the big players wrestle in buying tbs, the more rate cuts. I hope n pray the juice won't dry up soon coz i haven't suck enough of it.

sammily:
One option which I employ is to collect a copy of the treasury form and make several copies myself and then give my wife to sign as witness, but leave the date empty. Then whenever I want to invest, take one of the forms along, fill in the necessary details at the bank and submit. Shikenna!!!

That sounds cool provided there is no need to see the witness in person. Funny policy, they r trying hard to make tbs appear scary, like witness, come n see o, our hand no dey o, should FG default . Cos i wonder wetin concern witness with my private investments

freeman67:
Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

Radarada, so people gat know say i wan invest in tbs, investment that ought to be private, now you will have to bring someone along each time you want to invest your hard earned money, like a kid that doesn't know his right from left ,this is so annoying. If my wife can't follow me down to the bank, so no tbs investments for me .i know banks are trying so hard to deter customers from investing in tbs,so they can lure you to do their own meagre fixed deposit. The new cbn policies on OMO is giving them new wings, forgetting that tbs investors are damn educated n can read in between the lines. Also, there is no how secondary markets will be scrap, how abt those that want to auction their tbs before maturity, who is going to buy from them? I know all these shakara from banks will pass soon, when they realize that investors stand their ground n even lecture them the difference between OMO n FG tbs.

zamirikpo:
U r on point, stanbic told me that there are restrictions on secondary market auctions becos the CBN is checkmating illegalities. But I was able to place an order for the primary market.

What I don't understand is, why they will allow us buy at the primary market and not at the secondary.

This is getting serious n complicated, i understand that cbn is trying hard to block the big guns in order to boost the economy but it's getting back to us the little investors somehow. Secondary markets has always been my favorite because of the flexibility involves, hope they get things sorted soonest. Nov 7 is my nxt bidding,n i hope the ease we enjoy in investing in TBs continues, not this long time vetting

Jesusbabygirl:
Forget the online America o, living here is the only way to truly know how things are.

Truth to some extent, I've lived in my house for 10 yrs now, no exaggeration, i only know the street name besides my house , I'm the indoor type.someone that doesn't live here may know more than me with the help of internet.

alezzy13:
Problem though is that this TB thingy is making me way too stingy and Omalicha is beginning to complain seriously

Virtually for every single kobo I'm thinking of how to inves[/b]t. . . .hope this is healthy oo.

Its true, TB will make you more stingy,but this is not stinginess per se, it's call a budgeted life, *as a TB investor* You are meant to live on budgets and to [b]enjoy responsibly. But don't allow this to deprive u n ur family some basics things of life , afterall, it's just one life n the nxt minutes is not certain. Living on budgets is a bit different from being stingy, a rich relative of mine will lock up his bag of rice in his wardrobe and measure for his wife to cook, even when visitors are around, you can literally hear them deliberating on how many cups of rice to cook. count how many meats in the pot before leaving for work, that's definition of stinginess . Last night, was discussing with my wife that I've never live a budgeted life before until i started tbs, even when i don't worth my current standard , it could be a bit boring living a budgeted life, but it pays cos your savings will keep growing which will later create a better life in future.

chidekings:
U can fight it,it almost crumbled my business last year,but since i was able to fight it,i make the kind of money i only imagined in my dreams.betting addiction is the worst kind of addictions..slowly u will get out of it.

Thank your star u r out, gambling is a cancer, it will keep eating you up until you become a cadaver. It scattered in a short while what you have gathered for so long. The more you get close to your imaginary perfect dreams, the faders it becomes.the life of a gambler is so unstable Guys stay far away from gambles of any sort . Work Hard, save money n invest more in businesses that can guarantee you financial freedom. Stay away from negative energy and don't listen to those frenemy that will tell you, come let me show you the tricks to make it through gambles, i hope Nigerian government can do something to deter Young naive Nigerians from sport betting as this is breeding more petty thieves in our society. Don't be deceived by those sport celebrities you see on the TV doing adverts to promote gambling,they don't make their early income through that mediums, only greed has caused them to promote such, will they love to see their children turn gamblers. big NO. NOTE: it's a distracting spirit that will keep talking to your head to come n play so you can win big, keep saying NO to that voice until it flew.

contumely2:
What are you saying?
So what will happen if he mentions 100m? He will be kidnapped?

So all these bank staff that know people's account balances nko?

What about Otedola, Dangote etc

Don't be a scaremonger. Don't say rubbish here!

N who tell you some of the bank staff are not crook? Some of them are snitch n schemers ,they cld sell one out to kidnappers. This is a public domain, and your so called incognito is not 100% guaranted.

RealityShot:
the money is growing to achieve a goal...

Goal.. 100k...check!
Goal.. 200k...check!
Goal.. 300k..check!
Goal.. 500k...check!
Goal.. 700k...loading...


Do you know how Japan grew to become a world power in a very short time?

GOTO youtube and search for "visualpolitik"
You will see a video on that.


Secondly... Mhen, do you know how terrible it feels to have Less than 100k in your account?

Hack! I love to know I can have access to that cash in case of genuine opportunity..

Not to regret because I had "fun" with some "friends" or at a clubhouse with unknown entities.

All that money would have been wasted on new clothes, shoes, expensive perf, flights, and other unnecessary brouhaha...

Tbills changed all that stupid spendthrift lifestyle jorr...



P. S: don't worry, when my Tbills interests start paying my house rent completely, I will surely announce it here by God's grace!

At d bolded, Now i understand your point , you seems to be in your intense hustling period, give it your best, sure it's gonna pay off in few years . Good luck

RealityShot:
seeing the money growing up gives me the maximum happiness.

I even stopped my swimming hobby just to keep that 1k and add to mmf and Tbills.

D*MN! My account used to show negative (900#) once upon a time... And I used to be angry!

But today.. I empty my account into mmf and smile when I have no money to spend.

LOL... No girlfriend, no smoking, no drinking, no visiting "friends", no unnecessary journeys, no big treats..

JUST CANDY CRUSH AFTER DINNER and some MOVIES/VIDEOS
And a heavy dose of NAIRALAND /Seun


[quote author=afroxyz post=81591473]yiu are not living oga. you are just existing.

Money should be a means to an end and not an end in itself.

This is what the bible describes as the bottomless pit.

Insatiable accumulation of wealth to the extent you deprive yourself some fun once in a while.

What you gain at the sprint, you lose at the curve[/quote



The bolded got me Cringed... The type that switch off the car while in the hold up to safe fuel? Bro work, safe, then go get those things your heart desires,its just one life. Draft your spending culture (weekly/monthly) that won't put holes in your savings . A supposed richest man in my street has only a car, old 504 Peugeot,he only drive it on Sundays,i wonder how he enjoys his money cos he's looking worn-out already. Tbs has a way of making someone holds back in spending, especially investors with the mindset of attaining a future target. But all d same, we still need to refresh n ball a bit.

Dunkofia20:
Please guys help me calculate this amount I invested 1 million on first bank TB primary market for 180 days o but they did not inform me that it went successful is later I find out that they pay me 50000 only I thought they suppose to pay me more than that and i bid 10 percent o

Your intrests is on point for 180 days, the rate given to you is slightly beyond 10%. 10% should be around 48k including bank charges. Go ahead enjoy your earnings and don't forget to always come back for more

civilserva:
Do they allow foreigners to invest?

Yes they do, but how to safely move huge funds to Ghana is a concern. I know of someone in US that tour between Argentina and Mexico for TBs investments.Pegging inflation rate with Nigeria TBs rate doesn't match up. If TBs is undersubscribe, I'm sure cbn will increase rates. The bills are always highly oversubscribed, hence the rate cuts continue

hancock:
What's happening to Treasury bills lately?
11.18% for 364days? This is turning out to a joke

Na to port to Ghana now as they are having some juicy rate of 17% and the exchange rate fluctuation is not that bad.

partnerbizz5:
Lol, you raised salient issues. This shows you have some practical experience.

Now the issue of a tenant being unable to pay when he has no properties the court can seize and levy execution on, is applicable everywhere. Not only in Landlord and tenant relationship.

If a man of straw, a pauper, steals your 1m and squanders it with prostitutes. You arrest him, take him to court or he undertakes at the station to pay. There is nothing you can do, if he has no money in banks, no properties etc.

Same issue when the court awards damages in your favour against a poor man. Nothing you can do if he can't pay the damages; nor have properties you can levy execution on.

As per landlords drafting agreements, yes it's permissible.

The law only applies when there is no agreement between the parties.

For instance, 1 year tenancy requires 6 months notice. But agreement can dictate 2 months notice.

But if no agreement exists, then the 6 months applies by default.



Finally, I agree with you that it's not good to loose the windows, zinc etc. You can get away with it when certain persons are involved. Some informed persons will sue your as.s for interferring with exclusive possession.

Cheers.

Your post didn't clarify how a court can get my money for me should such deviant tenant disappears. And Yes, talking out of experience, a bad one at that. Had to wake early to attend court hearings, paid exorbitant legal fee, and the idiot packed out his properties unknown to me ,cos i don't live in the house, one of the tenants living there called me to come as this guy was busy destroying anything good in the house (WC, meter board, kitchen cabinets, wardrobe ) . Was lucky to meet him at the exact time the truck he brought was about to leave, then the blood shed was so gruesome ,my compound was stained with blood. Since that bloody incident, i chose not to approach a court for such case, I've adopted my strategies, and it's working.

koonbey:
That's why landlords should rent; as much as possible, to people with tangible business/employment, as well as using guarantors in the contract where possible.

Even if the person tries to run, in these days of BVN, their accounts are always subject to garnishee orders, if attaching (seizing) their properties doesn't suffice.

There are once upon a time a rich man, the fact that someone pay you first year rent bogusly, doesn't mean he/she can't turn to a Story teller, infact the best time to know a man ugly side is when he's broke. But Getting tenants BVN ( provided it's legal) will be good enough to curtail any bad tenants, this make sense a lot. because such tenants will be aware not to rely on court case to elongate his/her stay in the property unjustly .

partnerbizz5:
Part of not not paying shishi is not true.

In law,when a notice to quit is served validly, tenancy terminates upon the notice's expiration. However, the tenant still pays but what he pays is no longer called rent but MESNE PROFITS. Even if the matter stays in court for 20 years.

I guess what happened in the case you cited could be that your friend just ignored it or the lawyer goofed.


If you don't pay while matter is in court then everybody will be suing landlords naa to avoid rent.

And what happens when the tenant absconded prior to the court judgment ? The point is that as the judgment day get closer, the tenant would have moved out secretly, having spent significant years in your house without paying a dime. The court always rely on properties of such tenants to be sold or siezed to recover one's funds, but in a case where properties and the tenant in question is no where to be found. How can the court recover your money ? Something is wrong with the tenancy law in Lagos, and this is causing a big conflict between tenants and landlord that sometimes results in death . Well Informed Landlord don't rely on court efficiency but rather draft out their own strategy to tackle these stubborn tenants .and don't try to remove your tenant roof,doors,windows,that will only land u in a very big mess.