₦airaland Forum

Hmmm. There is more to this story. I do not believe any reasonable organization would terminate appointments on zero grounds.

I understand few months ago, Union Bank organized a saturday test and interview for workers without prior notice. Many of the workers laughed it off and refused to show up that morning, never did they know it was another form of appraisal. Also recently, workers have been placed on series of ghost appraisals.

OP, i advise you to demand for explanation. Write to your HR and contest the termination. Something must be wrong somewhere. Why you?

The lady is beautiful.

ademasta:
I just sent you a PM, please do reply.

Replied.

Source?

Hilarious though. Queen Sheba/Queen Bilikisu

So annoying...

Nigerians and fire-brigade approach.

Funny. That moment you wave excitedly at someone or hug the person only to find out it's actually not the person you know. And the person goes, "Excuse me! Do I know you?"

When I was younger, I saw a woman across the street that looked so much like my mum. I ran like there was no tomorrow to welcome her and jump on her as usual, only for me to get really close and find out it wasn't my mum. I paused like a robot.

Been there. I relate

Hehehehehe. I'm enjoying this actually. Drama and lots of it. People should be free to make their own choices peacefully and reasonably. For those against peace and calling for war, may every blood shed cry for vengeance on their heads and haunt them in their sleep.

Gosh! Terrible news. RIP girl. So sad.

generalj1:
...


thanks ...
i took the puppy to my guy that i always jog to his house from ikosi-ketu to Magodo...

the red label was to celebrate his induction as a new and latest dog owner...

i always jog with Mama also my boerboel to ensure she remains fit and slim

I hope it wasn't your dog that was barking at me last Saturday.

It's for everyone.

How many times do you see the so-called millionaires and billionaires in the banking hall yet they transact frequently? How do they do it? Same way they would do the BVN enrolment.

jaybee3:
The tenor as stated was 60 days
There is also the tax deducted from the accrued interest

And I'm telling you 10% on 30 days is obtainable. Deduct all the interest and charges in this world, it would still be better than t.bills of 9-10% on 91 days.

Primary t.bills in today's Nigeria is overrated IMO. Investors should learn to explore their options. Secondary t.bills is even of a better yield and advantage (if you are lucky).

whyniel:
I know of First Bank Ikota main branch. I negotiated 10% for a principal <1m though the negotiated tenor is 60days.

That's a good one. <1m.

Now imagine 9% for 91 days on t.bills. I'm glad someone else has a first-hand experience.

cc jaybee3 and Seun.

jaybee3:
The link i provided for access bank had a range published meaning they are willing to be flexible. I get that but what i'm failing to grab is how a bank will offer rate higher than Tbills for their lowest denom tenor.

The economics just doesn't make sense when it's evident that they will also have to use the deposior's cash to reinvest in the same risky asset class in order to get enough margin to satisfy both customer and shareholders

T.bills is a good option. Either primary or secondary.

jaybee3:
Name the bank na

My calc was based on lowest tenor for either inv class.

Obviously banks would add a lil extra to longer tenor which will most certainly be insignificant once the compound factor of the other kicks in

I don't need to name any bank. I already told you it all depends on your bargaining power and how you negotiate. The decision lies in the hands of the banker who must not exceed the rate guide. I can decide to give someone 10% and give another 6% under the same condition. It all depends on what I'm after. This is business.

Lowest tenor for t.bills cannot be 10%. I've seen 8% and lower.

jaybee3:
Do you know any bank that will offer 10% FD for <=1M principal?

Yes I do. Tenor is an important factor as well.

jaybee3:
FD => https://www.accessbankplc.com/daily-deposit-rates

TBills => http://www.cenbank.org/rates/govtsecurities.asp

You should try other banks with options as high as 10% on FD for 30 days, then compare with the last auction of treasury bills of 91 days of a bank as low as 9.5%.

7% is daylight robbery!

@jaybee3, what's the 7% for?

Then the last auction 10% figure, where is that obtainable? CBN?

Scrypt:
[color=#000030]The guy is just too loud. A case of an empty barrel.


[/color]

And when you talk too much, you either make no sense or become irrelevant. He is after something.

I no longer like this Bruce guy.

adexsimply:
God's fuckmate

Smh

UjSizzle:
Your head like sue as if the acceptance form doesn't include terms of investment. If you don't give instructions to terminate, your investment and accruing interest is automatically rolled over at the prevailing IR.

That's what I'm saying. If I choose the terminate option on my acceptance or opening form and you roll over, that's a breach in contract. So it shouldn't be rolled over by default.

I can also decide to roll over just the principal and get interests accrued at every maturity. Or roll over both and get nothing until termination.

jaybee3:
I will come and find you in few weeks time.....

I kuku know where you work

Yes boss. Emphasis on "few weeks".

jaybee3:
Stop being a banker dammit!

I like numbers....give me something to work with

Lmao. Let me know the tenor. Told you that's important as well. What's the point of giving you a rate guide that could be different from what is obtainable at your bank?

@octavo, thanks. Just weigh your options and be sure your bank is giving you a good rate. Then compare the two. Do the calculations yourself. Some 91 days treasury bills could be better than 30 days fixed deposits and vice versa. It all depends on the rate. It's your money. Weigh your options and don't rush.

jaybee3:
What's the rate guide for FB on deposits >5M?

Rate guide gives you the window rate. You just can't give a customer above those rates. Also, these rates depend on the principal and most importantly, the tenor (30, 60, 90, 180 or 365 days). The rates for banks vary. Sterling bank could be different from Fidelity, GTB, Zenith or Firstbank.

jaybee3:
You don't necessarily need to do 364 days.. You could do 91 days to take better advantage of the parallel correlation of compound interest and favourable interest rates.

Besides, you need to understand how the banks themselves are able to pay you interest on FD. They largely rely on TBills, bonds and commercial papers themselves as well as the elephant in the room (profits accrued from loans et al).

In effect, if your investment plan is based on a longer term outlook then surely you are better off engaging in less risky asset class

The banks have a rate guide (annually in some cases). So irrespective of the variations in bonds, tbills and the rest, the rates may not change. That's why even when treasury rates drop due to economic forces, the effect on fixed deposits could be zero or near zero.

I agree with your last line. For long term, do treasury bills. If you don't have faith in your bank, do treasury bills. If you are very rich, do treasury bills or bonds.

If you are confused, split your funds into equal halves. One for treasury bills, one for fixed deposits, same tenor (say 91 days). I always recommend this.

jaybee3:
Are we still on treating these financial instruments as long term investment plans?

For loooooong term, you can go the treasury bills way. But then, it's better the roll over option is used and not just plunge into long term. That way, you can enjoy interest rates increment (if any). Long term is 364 days, right? Just a year.

jaybee3:
Bargaining power as in the size of deposit abi?

Besides, it devoid common sense to tie large deposits into FD if CBN can only guarantee specific amount of money should the bank go bust

I can tie large deposits in 30 days and get my 10% rather than treasury bills for 91 days and end up with 9%. By the way, how many banks go bust in 30 days? By projection, some banks have going concern. They have the liver to remain for a long time e.g First Bank

My employer wouldn't pay me my salary without my BVN. Serious ish!