₦airaland Forum

pappilo:
Bro. That report long die and I am not too sure what to make of it. I already put in a request for 364 day Tbills on 3 Dec at 12.5%. Does this report mean I should increase my bid rate to 20%?

It means soon 365days Tbill will soon reach 14% or more.....

Officially,Interest rate is now 13%..........


http://www.proshareng.com/news/25226

coderXO:
Hi folks.

Anybody out there receiving USD/GBP/EUR inflows to Nigeria?
Please how much do you get charged per receipt?
Please indicate your bank.

I used Diamond Bank for many years and my money was always short an additional $40 - $50 after the sender/bank takes $25 off for fees to total $60-$70 charges anytime I received USD.

I switched to GTB last year. Now my total fees are flat $50, $25 by (Unknown), $25 by the sender/bank.

This not include the 0.5% fee when I withdraw either.
...Diamond Bank used to charge me 1% on withdrawals.


When I inquire about who has taken this extra charge, nobody knows. The sender/bank does not know, GTB/DiamondBank staff can't give me details of what was received. Seems rather ridiculous to me.


Please share you experience; these fees add up and I need to find the best option yet still. I have always felt I ought to be charged just a single $25 charge, and nothing more.


Thanks.

The problem is the sender of the money....He or She must have paid only bank transfer charges which is not the end because offshore charges of about 45euros must be paid by the sender even though optional by the receiver which shall be deducted from the money.....This charges has something to do with correspondence bank......Either way one side must pay it.....

Empiree:
these incidents I'm familiar with cus I'm very close with those involved. I lived with them. matter of fact, the other person in this matter lives with me right now. so I'm aware of it at least since 1990. Islam is deep brother.

How can you send this Jins and others away from your sphere?......

iconize:
Azubuike Egwuekwe has really improved, or perhaps it's because I'm watching online.

Injustice

Naija home based squad whipping Ghana olympic team.

Please where are you watching it online?

Any one with valuable information on LeadCapital...I mean reputation/prompt service delivery.....

REDDEVILS1:
What's the minimum required please

100k normally and in some banks 1M.....

Prince081:
Hello house, I have been trying to venture into treasury bills, but I need some guide.
I went to my Diamond bank branch in Portharcourt and they said they don't do Treasury bills. I have some idle funds in That Diamond bank account that I need to invest from Portharcourt.

Please five me an idea of where I can go in order to participate in the next bid.

Thanks in anticipation of solutions.

Don't go to anywhere just mail the head office of your bank and inform them of your intention.They might be lying in your branch just for them to be using your fund as they want...I encountered something like that from one of my bank branch at first but I pushed through the head office and everything has been perfect since then.But hope you have enough money in that account.....I mean the minimum amount required.....

Seun:
if you need to liquidate some of your tbills to meet an urgent need, what are the requirements for selling them off in the secondary market?

You should mail your bank and state your instruction clearly.....But you will loose some money on the principal amount.....

walcolm:
I don't quite agree with your opening statement. You can transfer from your fx acct to your naira account with gtb. It will be at official rate with bank charges but it's doable

I don't know what you mean by FX account but Transferring from Domicilliary account,I was told it has to be to another domiciliary account and that I can't transfer from Domiciliary account to Naira savings account.I found it weird though but that was the truth but not with GTB....

ayeesha:
Hello house..been following this thread for a while and I want to say thanks for all the info being shared.

Pls, I want to bid on the next aucton date for 91 days tenor. As it is, it will mature around February and I believe that is election month ba?

My concern is, hope our monies will be safe around that period , make person no come dey hear stories that touch!

Abeg, tbills experts in the house, will appreciate your quick response as usual cos I heard the next bidding will be next week and I wouldn't want to miss it Godwilling.

Thanks people!

Feb. is a good time for maturity and most of us are waiting for Feb/March for our various investment in T.Bills to mature by then and we can take further decision on the next line of action depending on political situation in the country........Your money will be safe...

I didn't do it but I was only telling how stupid Nigerian banks can be.....It happened in January and I had more than $45k in my Dom. account which I saved for personal use and since I didn't use the money for very long time,I was thinking to add most of it to my Naira account so as to increase my Fixed Income investment.......As at that time,I was using an account officer for most of my transactions and she said is not possible to transfer money from dom. to savings account....I also asked if I could authorize their management,she said no but the way she was pushing for me to send someone to her branch seems like they are making money from the exchange rates personally but I declined and that was the last time I used the account officer.....Since then I learnt doing everything through head office of banks or central customer service......I hope you get me.....

Chillisauce:
Thats a very risky thing you are doing. You mean, you actually send someone to withdraw from dorm account, change it , then pay into your naira account? Wow.

I use SC, i always give them instruction to pay into my gt or sc naira account. They do that with a telephone call to confirm.
Passing through a third party in this time, oh boi.
After i witness something yrs ago, where a third party was asked to withdraw certain amount of money, and the third party said that thieves snatched his bag as soon as he exited the bank. What will you do to such person.

The people i could trust with that are either not available to help with it or ...

Confirm from your bank, there should be a way they do that esp if you have a naira account with same bank

You can't even send money from your domiciliary account to Naira savings account of the same bank.You will have write an instruction to a third party to withdraw from account and save in the order.....Nigeria banking system still need some finishing.....And CBN sometime talk like tyrants as if you don't have right to somethings.....I don't want to bother myself but I am watching....

Chillisauce:
Does anyone know if this bvn (bank verification no) by CBN will affect instructions online on TB.
I cant seem to get a good response from my bank.



Good morning all

I am watching this stupid cbn directive as well because I can't just buy ticket all because I want to go to Nigeria to do bio registration.....They said the deadline is June but I think they will have to postpone it or deactivate credit services somehow.....But don't panic because some people in Nigeria are not even aware of the crap....Time will tell.....

bakandow11:
d banj breaks d barrier wen he got the new contract tru DR DRE himself but am still looking forward to the first nigerian artist to feature jay z and beyonce together. Dont get it twisted am nt saying they are the best but it occurs to me they have a busy schedule.
Somebody shuld please remind them to always fly the GREEN WHITE GREEN

They will only collaborate with you if you are very good….

obiak4:
at angelos wish to inform the house that i hv jst been debited from my bank thnxs guy am on my way to d top i appereciate all the contributions and comments wish all of us a happy day ahead

Goodluck!

obiak4:
also to add to this i did not actually filled any for just a letter of application stating the tenor, rate, acct nos amount, and i signed my acct. Officer says they wil tak it frm there
house pls is that hw it is done? Am a newbie pls ur contribution would be welcomed thnx @feelamong n co. 4 this thread

Its normal procedure since your instruction has clearly stipulated your principal,tenor,rate and account to be debited….

SAVEDBABA:
u r talking abt money wen dey lose their life,will money matter after death.

And what about their family?

hunter21:
the salary is not that bad so why do they keep complaining

80K is small for a job where you can loose your life…They need to double the money especially this time of terrorist attacks….

Obalende:
what I am really looking for is reliable Nigerian Stock Exchange Price history. Open High Low Close. NSE is selling it for NGN70,000 but its too expensive.. does anyone know how else I can get this data please?

Use cashcraft website and you find the historical prices of all the stocks listed on NSE…..

OlamiB: I Just don't know why broke guys wants to have a girlfriend too, before you start complaning let me quickly tell you am actually dating one

Guys jump into conclusion that girls don't want to date a broke guy simply because he has nothing to offer financially, but this is not true in all cases, a girl that loves you sees you in her future like her husband. She wants the best for you cos she sees you in her future, a girl can date a broke guy but no girl will intentionally marry a broke man.

I love my broke boyfriend because firstly am not dating him for financial reason and 2ndly because I see a bright future in him, but one thing remain, I can't marry him if he continues being broke.

I have stopped condemning girls that doesn't settle for less, there are so many disadvantages of dating a broke guy namely:

*talk about a boring relationship; when your female friends are going places with their rich bf, you are just there lying on his bed staring at each other's faces in his heated room.

*your friends will not respect him; by the time your female friends get to know about his brokeness the respect will just not be there anymore, girls love each other and they want the best for each other.

*he will always disgrace you; yes! This is most annoying, a little amount of money will cause fight between you two, imagine asking your broke boyfriend to at least present himself in a wealthy way to impress your female friends by buying provision or something for them will make him tear you apart.

*he commands too much respect; this is funny, even rich guys that can afford to buy expensive things for their woman doesn't command as much as him, I guess this is done so you won't disregard him.

*he will naturally look stingy to you ; imagine asking your broke boyfriend to help you with #500 when he himself already has a plan for the only #1000 left with him, this is ridiculous because by the time he decides to impress you with 2000# you won't just be feeling him anymore.

This is just a few of what I can remember now, guys should note that their being financially okay brings a kind of hapiness to their girlfriend/fiancé not only because of what they will enjoy from you but because they see their dream being fufilled through you, you live in the best house, drive the best car and all tell me if ur partner won't be proud to show you off.

I love my baby very much but as little as 100# can cause a misunderstanding btw us. God knows the kind of joy that will fill my heart the day he will be financially ok.

'it takes a real woman to date a broke guy and help him fufil his dream'

All this is written from the sadness of my heart.

I guess some guys don't understand me, I am only asking the guys to be rich for their own good not because of a leech girlfriend/fiance. Nigerian men are quick to insult any girl that comes here to talk about money in a relationship. I am not after my Boyfriend's money or anything, his happiness is mine also and I know he will be happy by the time he is financially ok to cater for all his own needs and beyond.

If you become financially successful it is your name that will be known not your wife's name talkless of a girlfriend, that is why I used Dangote and ADenuga as example...how often do you guys hear of Mrs dangote or Mrs adenuga? Is it as often as both men? NO! And in case the woman is as sucessful as the likes of omotola jalade, ngozi iweala their man is as successful as them.

Whats wrong if you both have and able to share responsibilities like its done in Europe….

ernie4life: I was discussing with a friend that works in another investment house about the issue of part of mutual funds being invested in stock, this was what he said, about 85% of mutual funds are invested in Tbills and bonds, the other 15% is invested in stocks, the major reason fund managers do this is because of the potential of stocks yielding more than bonds and tbills, while bonds could give you 13% interest, stocks if professional invested has the potential of yielding 20%. If this be the case the fund managers will still pay u the agreed 12% or 11% interest as agreed and the excess becomes their gain.

Expository if you as me, what do you guys think about this?

Ethically,a fixed income fund has no business in equity investment but your folks at work was right about the reason given by fund managers but that can't be the truth…..My opinion is that,the 15% investment in equities by a fixed income mutual fund is a loophole that need to be closed….It might be a one time haircut of your fund by the fund manager which is not right….

ifyalways: I wish I could get one that actually gives extra bonuses. Investment one claim they do for KGIF but I'm yet to see or hear anyone that actually got.

Reinvesting dividends is super cool. I do that too.

Generally, one should not carry all his/ her life savings and plunge into mutual funds, to avoid stories that touch. Invest only a fraction, something you can live without.

For guaranteed fund,don't you think is better for them to just pay you your fixed interest rather than ask for dividend?….The dividend payout is a way of shortchanging investors and you won't even detect…..Fund manager always confuse investors but the KGIF bi-annuall interest payout is straight forward and good for investors…..I don't buy all those ones with dividend because their dividend is very small and unnecessary…..

ogawisdom: I want to get my interest paid after a maximum of three months is dt too much to ask on a minimum of 12% pa

I didn't tell you is too much to ask…..But the obvious thing is that for them to pay you 12%,it means they are investing your money in FGN Bond which means they can only pay you 2 times in a year which is every six months…..There is no way they can pay you before that because FGN Bond make interest payment bi annually and they will have to get paid before they can pay you.If you like 90days interest payment then you will need to switch fund…..

ogawisdom: Do u kw of any other mutual fund dt can pay a guaranteed 12percent of ones principal per annum payable every three months. Kgif pays after six months dts too long.

For them to give you fixed 12% on your fund,the only tangible reason is that they must have invested largest part of your money in FGN Bond and thats why they are paying the interest every 6 months…..So far the company is trustworthy,then you should know 6months is not so long to earn such a high rate..…..I ready from UBA website that their Bond Fund return 13% within one year but I don't have any experience with them…

sys007: Thank you for the piece of advice.
I've just studied KGIF product. It looks promising except that a portion of funds are invested in equities amongst the fund asset classes. That's a risk! I will have to take my time to analyze it properly.
All the same, thank you so much for the information provided.

Yeah the products sounds good but I don't understand why they are investing part of it in Equities too but something tells me that they know what they are doing……..

gratieao: It’s now official, this otueke man is a comedian!

He meant poverty has reduced among his people in Otuoke….

I found out UBA Capital has different products that gives good return too….If you have invested in any of their products,kindly comment….

Chillisauce: Real estate in renting works better if you build cheap houses for low income earners . For mid and high income, it will take you yrs to make a profit . You might even be dead and one sibling takes over the whole thing.

lol….You are very funny…..I really don't want to be involve renting/selling of house but you know I can't live in two places at the same time so I had to make a decision but the good thing is banker love nice apartment and they pay good……Its better than just to leave the house like that and most of the horrible experience of real estate you can't know until you involve yourself……Nothing is straight forward,very complicated and too much stories….

coderXO: My two cents:

Buying land Nigeria can be quite profitable and yet on the other hand be a total disaster of an investment.

You stand the absolute stand of losing every single penny you put in because of scammers, omonile wahala, lack of proper govt. regulation and documentation.

Having said that, a lot of folks who invested as little as 5-10 years back are cashing in big time.
One of the greatest upsides of the "developing" countries ( of especially Africa) is development itself.
The need for infrastructure, housing, amenities in these sprawling cities as more Africans are getting into the middle class (we are all making more money overall).

The demand for land is absolutely like none else anywhere else in the world.
I'm not talking just Nigeria; Ghana, Kenya, Tanzania, Rwanda etc etc etc.


The potential appreciation of genuine land/real estate totally floors the meager gains of fixed securities.
...and nothing actually feels like owing your own home ( or homes ), where ever that home might be.


Investing in land is in my opinion is a longer term investment than most fixed securities but you stand the chance of a greater return in the long run. The risk is greater because of the nature of our country, yet I would invest far more in land than tBills all day long!

One very good point @Chilisauce just made is securing your investment by quickly building on it.
That is very important in these parts! That for me is = building rental property. This in fact is my destination career: to be property developer!!!


I importantly noted @petikal said he was interested in buying land and flipping it in what I would consider "short" term.
If that is the approach, you might find tBills a better option for your investment money.
If you have a longer "outlook", go for land.


My two cents; peace!

I find your piece very interesting and logically it apply to land situation in Nigeria but sometimes we need to draw ideas from real life experience more than from speculation……You have to know that even if you have complete papers of landed properties in Nigeria you may not get the expected return…..When you need to sell then the story will start except if you are lucky to find a direct buyer by yourself,it may take a very long time before you can sell the land because agents will definitely play you so that they can get more money…..I built two different structure on the same land in Lagos….A 4bedroom bungalow and one duplex and in 2012 I asked them to sell it so that I can earn money on it and build something more solid in another part of Lagos because I used quality stuffs for the house and I prefer to sell than to rent…..We involved many agents but nothing happened until late last year that I single handedly use my contact with one of my bank to rent it to a branch manager…..I thought it would be easy but the real estate sector of Nigeria is not liquid…….If you want to go into real estate build for yourself or build to rent……And if you are not living in Nigeria,the lesson I learnt is never to build something very big because you may never use it…….….Its an asset that appreciates but liquidity can be a problem when you need to sell…..Buying of land is better for long term investment as you said because it will definitely pay off…..But you can't compare both because they serve different purpose….Tbills is more for preservation of wealth while also having quick access to liquidity at any time….While land will save you some day after many years of buying it but not very liquid like Tbills….In my opinion you need to have both investment as it could be an advantage to you just that you will have to be very careful on the side of land and never to invest too much on land except you are an expert….My experience….

Check the link for result of recent auction.

http://businessdayonline.com/2014/09/nigeria-raises-n114-4bn-in-t-bills-yields-mixed/#.VCW0cN5iOqQ

ikp4succes: how am i not sure that command will not bring d virus lol

Exactly it will bring it……Mac I am very sure of is not vulnerable to any virus…..