₦airaland Forum

realjidejamal:
Dear awesomeJ,

Amongst all the Union Bank 25% is not false. It was clearly stated on the proof of Investment given to me which I uploaded same on this thread. I bank with Union Bank and I have 3 Tbills with them, whether they’ve stopped I don’t know, but it was on the proof of investment and it was one of the reason why I didn’t later terminate my tbills last year.

Really sorry if it sounded like I called you a liar.
What I meant is that that clause is likely to have a mix up with FD premature termination terms. Great to read from you.

TONY56:
My dear brother, termination of Tresury Bills is very much more than what you are making people to believe. I would have not responded to your post but my keeping mum over it would allow some investors on this thread to believe you and get their fingers burnt.

So, you think you can invest for 364day and get upfront interest based on that and get away with it when you refuse to wait for the investment to mature? CAPITAL NO!!! Where that to be possible, I would have done that and resell just after 30days.

It's exactly as I have stated earlier and I STAND TO BE CORRECTED BY ANYONE WHO HAS TERMINATED TB BEFORE.

Where did you confirm that the caveat of 25% penalty by Union Bank I's false? Do you bank with them?

The person who bank with them and was about terminating his TB told us here that it exists and that it's stated in the hard copy with him, yet you who does not bank with them is telling us that it's not true-meaning that the guy lied to us?

If you bought a 364 day paper at 18% discount, and decide to terminate after 30 days. Aside the transaction charges, all that gets debited from your face value is the value of the upfront interest that goes to the new buyer. That'll be about 166k if the rediscount rate stays thesame. You'll get about 834k as termination proceeds.

When you take the approach of subtracting the portion the upfront interest for the remaining period, and again subtracting the value of interest that goes to the new buyer-which are what you listed as 1 and 2 in your initial post, you are merely deducting the same charge twice, that's what needs to be corrected.


On the union bank's issue, The 25% caveat is very likely to be for FDs as UBN isn't the issuer of T-bills.

The CBN issues them, and regulates the market. They specify limits to charges banks can make on customers investing in government securities. So it isn't very likely that a bank would impose such a charge.

anori:
I stopped watching MMF rates after I diversified. GIF and Bond are doing so well. I am even putting more in equity. Its no longer scary.

Please what are the month to date returns on GIF and BOND fund. I did equity in January, but had to switch most part back to MMF.

gloriousdawn:
Share price was marked down for 2017 dividend.

I see.

rebekah2011:
Waoh over 105m in offer.

In mechanics, the downward journey is often a replica of the upward in all magnitudes. Only the direction changes.

Is X-GEN having another UNIC craze, or did AFRIPRUD actually open at a 40k discount?

Should be qualification date right?

So it appears Q4 losses remain in FIDELITY's blood. Rabbi, why's that peculiar?

gloriousdawn:
The fair value for Fidelity bank is 3.38.
Fair value is arrived at by discounting EPS TTM (0.61) with 18% (10 years bond yield and 5% premium).

DD is advised.

https://invst.ly/6wvib

FIDELITY'S TTM's EPS 0.61? that's Q4'16 through 9M'17 right? I once extrapolated 9M'17 to get 0.89
Maybe Q4'16 was negative.

TONY56:
It appears you don't know how the whole


. But methinks that he was not cheated expecially if he bought above 18% and sold at over 11%.

I

Boss, T-bills termination is not as complex as you're making it seem.

If you buys bills and you want to rediscount, the only debit from your face value are the new discount and transaction charges. So the other charges you listed don't exist, and the Union bank's 25% too is false info.

If he bought at 18%, and sold at 11%, He would have even made more gains. Remember White Chocolate's experience and the short-selling talks we had.

It's not as complex.

katamo:
Thanks awesomeJ.

I am not sure why there isn't more transparency from CBN around this though. Let's see what happens.

The issue is from the DMO's refinancing plans. Ordinarily, CBN would have published Q2 calendar on its site since last week.

@Alakwa.
There are banks that'd have rediscounted your bills at the prevailing rates, and that would have been 12% at most for 57 days. Then the amount deducted would have been about 260,000 representing the upfront interest to the new buyer. So you would have been credited with about 13.44m.

But I once read here, someone saying that GTB doesn't rediscount at prevailing market rates, but rather at the rate at which the initial investment was sealed.

So if that's to be the case, the amount debited from your account should have been about 390K, implying that you should have gotten 13.31m back in your account.

As it is now, there's about 260,000 of your money whose whereabouts have no meaningful explanation yet.

Like others have said, you need to contact the bank with questions. Confirm the original amount that they invested for you as well as the discount rates on purchase and at termination.
Maybe the initial investment was a little below 13.7 m, Not likely, but still make sure.

260,000 is more than what some graduates earn in a year!
Plus if you want to dash people money, it shouldn't be banks that makes almost 3 billion naira each working day.

katamo:
The last one I saw was for Q1 2018 and there was only one primary issuance this month. Does anyone have the Q2 2018 calendar yet?

Great to have you around boss.
I don't think the DMO has given any instruction regarding swapping. So since there are papers maturing this Thursday, the CBN will have to hold a PMA this Wednesday 14th March, and another by next Wednesday 21st March, to mark the first 2 auctions for Q2'18.

The downside though is a likely drop in rates by Q3 should the DMO decide to substitute the whole $2.5bn eurobond proceeds by Q3.
It would have been less steep if it was spread over 2-3 quarters.

Stanbic's yield today inched up to 14.95%. I pray it stays well above 15 in the days to come.

RabbiDoracle:
Trading gain = Tbills gain + derivatives gain

Since that fixed income space is 20% down currently. Potential decline in net income could be as much as 20% of 37.1% (7.4%)
They'll need to make up for this and yet push forth some growth for FY'18 numbers to sparkle.

Let's watch out for Q1.
Anything short of 200bn in gross earnings and 45bn in PAT would mean a FY'18 that'll likely be flat or worse.

onegentleguy:
That's why I said the seller has to sell at least a day before the qualification date. ...unlike the buyer that has until the exact day of qualification to be eligible.

Prof. Let the seller sell at least one day after qualification now, for if he sells one day before qualification, how then would his name still appear in the register during closure?

RabbiDoracle:
Zenith trading income is huge ooo.

Trading gains is 36.7% of total net income (i.e. net interest income + trading income +other incomes)

Net interest income is 37.1% of the total net income.

Hmmm....


While in 2016

Trading gain is 8.5% of total net income.(i.e. net interest income + trading income +other incomes)

Net interest income is 62.7% of total net income.

This means in 2016 there was lending to the real sector while in 2017 there was not much lending.

I believe all bank results will be like this.

I think they record T-bills and other fixed income proceeds under trading income, hence the spike in FY17.

Agbalowomeri:
Not pillow
pillow case

The pillow case has 50 times more room for cash stocking than an actual pillow. Right?

PrecisionFx:
Oga relax n stop telling useless stories.

Ur nephew got cured from the doctors prescriptions, he was already been treated in the hospital before u said any multiple days prayer.

If u want it to be a miracle healing from God, Don't take him to the hospital wen he's sick, Keep him @ home n pray for him until he gets healed.

Did you read the part where I said I pray off my own ailments without even taking drugs?

In the case of my nephew, it was the Mum's decision to go to a hospital. I advised against it, but she was more comfortable with the hospital. The doctors had treated him before. The only difference is that the boy would normally have had to go back there after about 6-9 months, but it's now almost 2 years, and he's not had to.

You should try reading people's post more calmly before you rush to make funny quotes.

Modified:
I just went up to view my post that you quoted, and half the post and even the mention of the person I quoted have been wiped off. That explains why you may not have gotten the full info.

Sorry.

@Chibuking81,

I just finished praying to God for your daughter's safe return. What I asked God is that before this new week we've entered ends, God will help you find her hale and hearty.

Please join your faith to this, and all others who have bigger measures of faith, and higher levels of anointing should please pray in this regard. That God brings us our precious daughter this week.

While I am sure the narrative may not be all there is to the story, I am more sure of the fact that people get bigger healing manifestations from God.

My nephew had a similar issue, His ailment made me sleep in a hospital ward for 2 nights as I was the only one available to stay with him at the time. I had never had to be at a hospital before, so that experienced seemed embarrassing to me. I was provoked to pray for the boy in that hospital beginning from the very first night. Nothing seemed to happen as we yet stayed there for about 2 other days. It's now almost two years and He's not had to go back. 9 months or so, was the longest he'd ever had.

So there are millions world over who experience the supernatural, Your disbelief in it is basically immaterial, just as a person who doesn't think, radio signals can move across the world in an instant, has no influence whatsoever on the principle.

rationalmind:
Sure boss, I'm presently working with what I have and can gather. Will update once I'm done.

God bless sir.

rationalmind:
Was trying to do a research on IPOs of select stocks on the exchange , how they fared a year after the IPO in terms of percentage increase/decrease.

The plan was to compare the results of those who made significant gains or losses, see if they had anything in common and how the common denominator can be extrapolated to this MTN IPO and subsequent ones in years to come.

Unfortunately, most of the information I needed were quite difficult to come by. One good example was how I couldn't get specifics of the first IPO by GTB in 1996 after turning the www inside out.

Makes me wonder how people whose job it is to carry out researches manage in this country of ours.

Great efforts.
But how about the '07 IPOs. I think www has more info on Nigeria then than it had in '96.

Happy Sunday everyone.

Hope you were in church today.

So there are these two things I've observed, and I'd like to talk on the second one which may concern some of us.

1. There are students who think Maths is hard, based on what some "influential" people tell them, What I've found is those influential people are often ones with incomplete knowledge in that field.

2. In a similar vein, there are those who think investing in the stock market is what proves you to be a smart, expert, or mature investor. This is as well often based on what some stock market participants try to make them believe.

As great as the market can be, going in there just so you can prove to whomever that you're smart is a pretty wrong motivation, just as jumping into T-bills because you expect to earn 13.5% monthly is wrong.

While Cryptos may be great if you've fully mastered their workings, getting into them purely out of greed would be dangerous.

If as an individual you already have an investment portfolio worth X amount, that to anyone is the proof of your smartness. Because that X amount is not what just any fool can have.

On the other hand, if you could develop a brilliant risk hedging strategy for the market, such that you can guarantee for yourself some pretty decent returns, it would be wrong for you to stay away from there for fear of things you could walk around.

Your risk averseness and your personal financial goals should be the primary things that determine the investment vehicles you choose. And a vehicle should only become attractive if it offers a great balance of investment safety versus returns.

A well diversified but synchronized portfolio in vehicles which are all safe and have great velocities would concertedly get us all to our financial destinations quicker.


P.S I am not speaking against investing in stocks. I actually have a tiny portfolio for it. I am just saying we shouldn't get into investments for some silly reasons.

Above all, God's blessings amplify our efforts, and secure our successes.

Have an awesome new week.

profolaolu:
Bros U are a victim too, that is not good enough

Like there was this time he said it's religion that makes nations poor. Then I asked him how come nations like Saudi Arabia, the UAE, Qatar, etc prosper?

He wiped it off, wiped it clean.

Tasma:
Read my comments above, if I heat metal I can prove that I heated it, if I read for an exam I can prove that as well. Your issue seems to be that things that are hard to explain happen. Five people are in a car, one prayed to get to his destination safely. There is an accident and just that one guy survives without a scratch while all others die. Point is it can happen, stranger things have happened! Attributing his survival to his prayer is not automatic. He could as well have died, someone who did not pray at all could have survived. This incidents happen every day. People recovering from terminal diseases occur ask any doctor. Some pray, some dont, some believe in God, others don't. There is no way to ascertain that it was their prayer that was the cause of the recovery because there are also millions that prayed for their recovery and did not get it. So unless you saying God is simply choosing to answer some prayers and ignore some... which would lead back to my point that you cannot prove it. You may want to believe it but that's a far cry from proving it.

I want to continue in this convo, but first if you're saying it wasn't my prayer that made me pass, then explain what you think the cause was.

Take your big bang guys for instance, they didn't just say "The universe has no creator" they at least made an attempt in explaining that there was a bang. The probability of that being true is zero anyways, but they at least tried.
So why not follow suit.
Why was I able to pass an exam that I did nothing but pray about, whereas several other folks in my class failed, and those who also passed, did so by their awesome efforts. Make a try bro.

Tasma:
Again I say no. In fact your argument supports superstition perfectly. I can keep a rabbits foot in my pocket when going for an interview. I may be totally unprepared for the interview and still do well. That in no way or form concludes that the rabbit foot is the reason for my success! I stated earlier that it's lack of humility to say we know everything, things happen that we may find hard to explain. Attributing things you cannot explain to a supernatural cause is unnecessary and to some extent probably even lazy. Better to work at trying to understand when that happened.

if you heat up a piece of metal in a furnace, and it melts, wouldn't it be silly of you to say, you need to find out why it melted. isn't it obvious that it was your heating it up that caused it to melt?

At some point you must have been a student, and you must have known that for some few students to have better grades than some others, something must have spelt the difference. If a student attended every class and read very very well for the exam, and that was all he did, wouldn't it be silly of you to argue with him when he says he got his success via hardwork? If I on the other hand didn't do any reading but merely asked someone to make me pass excellently, and yet as difficult as it could have been, I passed, isn't it silly for you to argue the fact that I said it was due to my request that I passed. Now don't just quote me with some long notes, tell me what in your own mind could have been the cause of my success.

An army Brigadier says to his battalion "Fire", and you're claiming " we can't conclude" that the reason why the army shot the ammunition was the Brigadier's instruction. You're just being over skeptical.

Tell me what you think could have wrought that instant healing I mentioned of Kenneth Hagin.

If you can't provide these two explanations I have demanded, or you'd want to say something like "I don't know, but it's not your letters" Then obviously, your comments wouldn't be deserving any response. So you may just decide against making them to save yourself some time.

LordVoldermort:
And the LORD God said unto the serpent, Because thou hast done this, thou art cursed above all cattle, and above every beast of the field; upon thy belly shalt thou go, and dust shalt thou eat all the days of thy life:
Genesis:3:14

How many snakes eat dust?

How many children are made of clay.
Look up the Word "Metaphor ".

Seun:
If a person continues to post wrong information after he has been corrected many times, at some point we have to assume that it is deliberate.

So when you've been told several times by actual tithe payers that their reason for paying tithes is the blessings they get, but you keep making posts on how it's fear and cajoling that form their reason, Then we know it's deliberate right?

Seun:
Every contradiction deserves its own thread.

The "contradictions" are so few that they can't fill one post.

Seun:
The good part of Pastor Chris is that he wants his sheep to feel good. Unlike the sin preachers who want them to live in the constant fear of hell.

Ignorance there my brother.
As a Christian, except I read the word from things like this post of yours, I hardly think about it.

So why would you assume that something that's so irrelevant as to take less than 0.00001% of my mind time, would be what motivates my faith.

You see, faith and fear and parallels. You can't have both. Got one, you'd lose the other.