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Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 4:44pm On Mar 31, 2015

igboboy3:
House, has anybody ever invested in REITs or ETFs? I'm about to invest in a couple and I'd want some advice

I have shares in UPDC REITs and their dividend return was about 6.22%, have just had them for about a year or so. Price is stable.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 5:51pm On Mar 27, 2015

myjoy08:
I have discover another one now like the one you buy 1 get 5 free. So in the next 3-5 months, the stock will be selling for buy 8 get 2 free

talk am...am not greedy. I will close eye and do 25k

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 5:45pm On Mar 27, 2015

myjoy08:
Mango Park have been taken over by Nigerian Military men. We are on our way to Goshen Land

I took a gamble when it was buy 1 get 5 free grin

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 5:37pm On Mar 27, 2015

Agbalowomeri:
Expect 50kobo

If Transcorp gives 50k, that go mean say I don collect my money wey I take buy am...an investors dream

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 3:59pm On Mar 27, 2015

feelamong:
http://www.nse.com.ng/Financial_NewsDocs/8957_CHAMS_PLC_2014_AUDITED_ACCOUNTS_FINANCIAL_STATEMENTS_MARCH_2015.pdf

Even chams plc doesn't want to be left out.

To pay 2kobo dividend...

If CHAMS can pay dividends, I can be president of Naija be dat O! All hope is not lost.

3 Likes

Investment › Re: Mutual Funds by carpenter(m): 10:15am On Mar 27, 2015

ednut1:
get ur money tomrw , MM rates are cool for now, Arm has dusted fbn and stanbic despite having only 6billion, fbn-25b, stanbic 32b

Now that is really cool!

Investment › Re: Mutual Funds by carpenter(m): 7:50am On Mar 27, 2015

ednut1:
we have online redemption service free of charge in Stanbic, 24 hours d money lands in your account .

Good to hear. That is quite cool!

However, is your 24 hours, 24 working hours which inturn translates to 3 working days or 24hours mean I put in today and I get it tomorrow?

I am tired of investment houses and bankers twisting words around so I also ask for clarification these days grin

1 Like

Investment › Re: Mutual Funds by carpenter(m): 7:20am On Mar 27, 2015

Folks,

I just made my 1st withdrawal from FBN Capital MMF and I got my money within 3 business days. It wasn't all a smooth ride due to no fault of theirs though. The Registrar sent back my form for irregular signature twice and we had to use alternative ways to get it resolved. They asked if I had shares with their registrar which is First Registrars and they just just used my signature there. One of the reasons why it pays to do business with the same family.

Disclosure: I bank with FBN, have shares in FBN Holdings, I use FBNCapital for some investments

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 7:02am On Mar 27, 2015

myjoy08:
With this results and dividend of 15Kobo (50% increase in dividend compare with last year dividend of 10Kobo), i don't think the bear are coming anytime soon

Fidson dey try. In terms of dividend payments, this is the best stock I have put my money in. For the past 3 years, it has been 12.25%, 14.81% and this year it is 14.56% yield. Who knows how long this will continue... grin

Note: I always use my average buying price for calculation and not the current market rate. This gives me a better picture of my situation.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 2:28pm On Mar 25, 2015

kotlass:
So immanuelo that does JIJO with just 5% gain wants to port to Meritrade because iTrade is down today? You go hear ween! Na joke I dey o. System breakdowns; It happens everywhere,probably more frequent in our environment though. Even Meritrade they get issues at times. Bro, iTrade was made for YOU. Don't quit now. Btw, I am a big fan of Meristem securities. My Morgan portfolio is just a fraction of that with Meristem.

@ Carpenter; I feel your pain. You had a target and Morgan made you miss it (at least, so it seemed). I also respect how you handled the situation and moved on.

As for Morgan, improve on your customer care services. I don dey talk am since. Let prospective clients know about these charges upfront and how they are drawn, especially the annual fee. It is left for them to decide if they wanted to go ahead to open an account or seek alternatives. If you hide them and they are later discovered, you would be called names o.

The bad part is that I was quite satisfied with my StockBroker but wanted to try out this new technology so I don't become old skool. Unfortunately, Morgan was well recommended here tongue

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 2:24pm On Mar 25, 2015

kotlass:
Just for the records and for those who believe Meristem wipes off "most" of their gain. Meristem charges 1.35% ONLY when you BUY and 1.35% ONLY when you SELL.
Morgan charges o.25% when you BUY and 0.25% when you SELL (no need to include "ONLY"

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 1:19pm On Mar 25, 2015

Processor01:
Nigerians complain a lot but never follow it up with any action! What about banks that you visit when pressed for cash only to be told "our system is down" - Have you closed your account with them? What about the times when you needed to make a quick withdrawal from an ATM only to be greeted with "Issuer or switch inoperative" - did you throw away your card and start keeping your money at home?

While i agree that Morgan capital still has a long way to go in terms of Customer service but hey guys, cut them some slack! This same guys have brought JIJO masters and investors extra thousands/millions in saved cost due to lower charges and speedy execution on iTrade platform. Personally, if i get repeated poor services from any company, i never come back (same reason you would never find me at Tantalizers )

Finally, if Morgan Capital doesn't cut it for you, then kindly express your dissatisfaction by porting to Meritrade!

If a bank doesn't cut it for me, I will throw them away like I threw UBA away.

If GTBank doesn't pay me back my money, I close my accounts with them then will escalate to CBN....very simple for me. We need to start holding people and companies for what they promise

2 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 12:18pm On Mar 25, 2015

MilikiAgent:
I am not a staff of Morgan, but I am a satisfied client. There is nothing constructive in any of your posts. You claim there are crooks in the employ of Morgan. How are they crooks? Do you know what a crook is? Now you are saying they should improve their leadership quality!
@ all (e.g bigass), this is Nigeria. GTB was charging 3 naira per mill COT as at last year inspite of CBN regulations that mandated 2naira. Did we because of that call some staff of GTB crooks? No. If there is a regulator mandated charge and an institution decides not to abide with the regulations report them to the regulator and boycott the company. Do not insult the staff of such company on a faceless forum.

I also have problems with Morgan Capital and I have gone ahead to close my account, at least that is what i asked them to do.

I do not think what they did was illegal in my own case but I personally find is unethical. Note the word personally....

My Case:
I opened the account in November and was told I would be charged a yearly fee of 2.5k naira, perfect...I intend to pay for services rendered. I transferred 252.5k to them. I did this so I would have 250k to play with. When the account was opened, my surname was spelt wrongly and I complained immediately. I was told to write a letter through them to CSCS which I did, scanned and sent to them. After several emails asking for an update, I was told they need the original letter that CSCS will not take a scanned copy...again I can understand. Early February this year I went to their office to drop the letter (I was out of the country and sending thorough a courier wasn't just an option for me). Fast forward to this month, nothing had happened...no confirmation that letter was received no updates on what was going on...but my money was still with them.

So on the 11th of this month I asked for an update and asked Morgan to transfer the 250k to my account, afterall I don try since November and I need the money to run some errands ASAP. On the 14th I sent a reminder and received a message that they would do it on the next working day. After a week of no action, I sent a third message then I received the shock.

"Dear Mr xxxx (Mispelt Surname),
We sincerely apologise for the delay in responding to your mail.
However the balance in your account is 247,500 and the instant transfer charge is N1,000.
Please re-advise.
Thank you."

I replied the email asking for clarification, called them and spoke for minutes to no avail. To cut the long story short, they charged me another fee in January this year and told me their clients pay 1k for instant transfer...so I wonder what is instant about the payment that was requested 2 weeks ago.

They apologised for incoviniences and all the bull-shit you hear from busineses that think an apology solves all but will still take your money. I needed the money and just did not have the time and energy so I told them to do whatever they want and give me my balance then close the account.

They have sent me my money through GTBank which I believe will not charge them since my account is also GTBank but then I already knew I wasn't going to do business with then again after they told me about the charge on my account.

That is how I lost 2.38% of my money and all i gained was some silly apologies.

So I leave this with you to judge.

@MilikiAgent

If GTBank is charging you more than they should, send them an email and watch as the action unfolds. I did that 2weeks ago and told them I have gone through my accounts for 2013, 2014 and 2015 and i noticed irregularities in their charges, told them i wanted my money back. They have sent me several updates regarding it and I will get my money for sure even if it has to go to CBN

Investment › Re: How Possible Is It To Recover My In Vestment In Afri Bank by carpenter(m): 4:39pm On Feb 21, 2015

tochinoyi:
that's why we are too far in Nigeria here in China i can never happened central bank should know how to settle for that because is in their hands to regulate and save people's investment

Technically, the CBN is not responsible for your investments...they are primarily your responsibility. The CBN is responsible to people that keep money with the bank (Creditors) and that is through the NDIC sef if a bank fails. If you choose to put your money in a business and it fails, no one gives you money back anywhere. The worst that would happen is that people will go to jail, It is very painful but the sad reality we all had and have to live with.

1 Like 1 Share

Investment › Re: How Possible Is It To Recover My In Vestment In Afri Bank by carpenter(m): 4:21pm On Feb 21, 2015

tochinoyi:
pls i don't know if here is the right place for this topic,duo I'm not residing in Nigeria now but I'm planning to visit next month
I bought shears with Afribank since 2007and i traveled 2008 i got the certificate 2008 before i traveled,now i heard that Afribank is no longer in existence i want friends here to advise me on how recover my shears back or the agency i will meet for it when i come back pls mod send this to front page

To the best of my knowledge I think all shareholders in Afribank lost their shareholdings (all their money). The banks were recapitalised with tax payers money and as an owner of the bank you lost your funds. When banks are about to fail or fail...protection is usually available for creditors only.
this article explains it better http://www.investadvocate.com.ng/index.php/money-market/2620-5-rescued-banks-risk-nationalisation-if-amcon

AfriBank was one of the first 3, so all is gone. Sorry

and another https://www.nairaland.com/730185/investors-lose-billions-three-nationalised

Investment › Re: Mutual Funds by carpenter(m): 2:23pm On Feb 21, 2015

ernie4life:
all interest rate are on 365days

Ernie,
We are hungry for all those tiny details o...we dey wait you

Business › Re: How Much Did You Exchange The Dollar For Today? by carpenter(m): 5:11pm On Feb 14, 2015

sholatech:
unlike your naira account, the bank is not obliged to get you USD cash in your acct anytime you need it. The Cbn rule is 'subject to availability'.

That's interesting...didn't know that.

I guess I will have to take a decision eventually...change to another bank within or outside the country. Although, they were nice about it ...just that i wasn't in the mood as i needed the money badly.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 4:49pm On Feb 12, 2015

stockbull:
smile.......long "tyme"

Investment › Re: Mutual Funds by carpenter(m): 1:26pm On Feb 07, 2015

Okay ...we dey wait

ernie4life:
many of the funds on this list sound new to me and yet I thought I knew much about mutual funds, am obviously just starting, but trust me am already working on the list to find out every tiny info

;DOkay ...we dey wait

Investment › Re: Do You Still Buy Shares? by carpenter(m): 12:08pm On Feb 07, 2015

read all here https://www.nairaland.com/1912965/mutual-funds...sorry just getting to this

BermudaTriangle:
1) Please how does one get to know the mutual funds ?
2) What about govt. securities ? How accessible and profitable are they plus the procedure to buy ? Thanks.

Business › Re: How Much Did You Exchange The Dollar For Today? by carpenter(m): 9:32am On Feb 07, 2015

I can also confirm that I was in 2 different GTbanks and they claimed they didn't have dollars.

Sincerely, it is frustrating since it is money saved with them.

Am not a happy customer but I have decided to keep it cool for now.

Investment › Re: Mutual Funds by carpenter(m): 10:39pm On Jan 15, 2015*

igboboy3:
Great thread lads, lets keep it going.

FBN MMF and Stanbic MMF are some of the better mutual funds in the market. My opinion is that though Stanbic may have a larger base, wider reach and ?better managers, their fees are not a bowl of ice-cream. Nevertheless, you can't go wrong with either of them.

Does anybody know of any other good funds or fund managers? (Please don't mention ARM). Even as the market is tanking, the yield of some of these funds will definitely drop. I've been trying to find any information about ETFs(particularly Vetiva and Stanbic). I hear ETFs have some advantages over ordinary mutual funds.

I don't know much about StanbicIBTC but i do like the categorisation of their products. I will definitely check them out in future. The yields are all similar though... still in the 11-12% range and the fees don't matter since the yields advertised are net of fees. FBN MMF entry level is quite low compared to theirs (5k initial and 5k subsequently vs 50k initial and subsequent investment of 50k) and they are both rated by the same rating agency (Agusto) as Aa(f) http://www.agusto.com/rating-category.php?id=10 . I am inclined to agree StanbicIBTC might have better managers since the core business is investment. However, I believe the yields are not a reflection of that thinking...maybe they use their better managers on the other funds and not MMF.

A lot of people are not being fair to ARM sha...just saying.

InvestOne seems to offer the best rates I have seen so far...

on ETFs, I have no idea..trying to remember the full meaning sef grin

2 Likes

Jobs/Vacancies › Re: Should He Take A "Pay Cut" Or "Resign" Honourably by carpenter(m): 11:59am On Jan 13, 2015

olawale2014:
FIRST IMPRESSION MATTERS A LOT. Your first impression to your new boss was to display your lack of integrity. To tell you the truth, dismissing you is the best option for the MD. Lack of integrity is a red flag for any organisation and such a person is a black sheep within an organisation. I will be very surprised if the MD does not dismiss you. But if he does not dismiss you, be rest assured that you are in for perilous times within the organisation as you will spend a long time trying to get the trust of the MD. For people like that, first impression matters a lot, you may never be able to get his trust. He will be constantly watching your back and making references to the issue, overtly or covertly.

MY ADVICE:
1. If you are dismissed, look for another job fast.
2. If the above occurs and you can put aside your shame, go back to your former company. If you are accepted back, know that you don't have a reliable job yet, still look for another job fast.
3. If you are not dismissed but your salary reduced, you will never be trusted, hence still continue looking for another job fast.
4. If you are not dismissed and your salary is not reduced, continue in the job but spend a great effort convincing your boss it was an honest mistake and an unintended error.

Above all, learn your lessons and be truthful during salary negotiation. Not everything should be tied to money. Some other qualitative benefits are attached to a job other than money.

There is no honest mistake in this. Own up and do your time with the reduced salary or look for another job.

Tell your friend that his boss is a good guy and he doesn't need to make him (boss) look stupid by telling another lie.

And the former boss has done nothing wrong...when you lie to get a job, and I have evidence to show you were telling lies, I will tender it.

Na so e dey start, later we would say Nigerian Govt is bad.

He should pick himself up and use this event as warning to do something better... I have a situation where I really disappointed myself about 13yrs ago...that event keeps me truthful to date.

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by carpenter(m): 1:09pm On Jan 12, 2015

FranklinRich:
This will make our market turn into one that I like; which is a buyer's market. We might see Seplat far below N200 With crude oil prices at such levels. other fundamentally good stocks will not be spared too and will get hammered. I sure will be there to pick up the pieces. .

mesef

Investment › Re: Mutual Funds by carpenter(m): 11:38am On Jan 12, 2015

Yem0350:
PVC and I also have acct with d bank

Wow! that should not be a problem at all.

They can always confirm your identity with their sister company.

All da best sha.

Investment › Re: Mutual Funds by carpenter(m): 10:43pm On Jan 11, 2015

Yem0350:
I av sent mails but they did not shift ground. Dat has prevented me frm doing additional subscription because there is tendency I nid funds.
No time to visit dem for now but will surely do dat ONE DAY

I remember CBN sent a circular out to all banks and financial service operators to take PVC.

Do you have an account with FirstBank by any chance?

by the way, did you mean TVC or PVC...just for clarification? grin

1 Like

Investment › Re: Mutual Funds by carpenter(m): 10:40pm On Jan 11, 2015

ednut1:
it was der dis week. on their site. obviously a mistake from d IT guys or nt

Why dont you stop being a smartass and just apologise. Your intentions were very clear...if you knew it was a mistake (wondering if it was really there sef and not just something you dreamed happened), why did you mention it?
tongue

Anyways, I am apologising on behalf of Oga Ednut1

Investment › Re: Mutual Funds by carpenter(m): 10:29pm On Jan 11, 2015

Yem0350:
The problem I av with FBN MMF is inability to divest frm d fund wit my PVC (I dnt av any of d 3 ID requested). Although, I used Voters card to subscribe.
So far, they av b gud with consistent div payment, although, I choose re-investment of div.

That is so strange especially since you subscribed with that. If I were you, I would write them a strong worded email then visit their office for a showdown. If voters card is accepted for banking activities, I do not see why they would not accept it.

Investment › Re: Mutual Funds by carpenter(m): 2:19pm On Jan 10, 2015

ernie4life:
14% is unbelievable and too good to be true. what will the be investing the money into?
bonds go for 13% even MPR is 13%, so am wondering what the do with the money that gives them 14%. If we had a clue of what the do with the money then we will have more confidence to invest in it.

please give us more info on it am interested and if I have time I may go to there office.

My thoughts too and is Sterling Bank still a bank in Nigeria? grin

Note that the higher the risk the higher the profit and this may be a move to pull people towards them and sincerely nothing wrong with that strategy. You cannot be offering 11-13% that the funds backed by the big players are offering and expect to make headway...so 14% may not be really too good considering their situation. In the end, it is about sitting down to analyse the risks involved and personal preferences to decide...

100,000 invested in funds with 11,12,13 and 14% would earn you 11k, 12k, 13k and 14k respectively in a year
1,000,000 in the above order would yield 110k, 120k, 130k, 140k respectively in a year

The more you have to invest the more the difference and the longer you invest in the fund, the more the percentages start to make more sense.

1 Like

Investment › Re: Mutual Funds by carpenter(m): 2:07pm On Jan 10, 2015

emeka94:
Welcome back from your digital detox.

Choi I swear you've finished me. Na my Life savings you dey yab so oh. Lolzz

Anyways, thanks a lot for the info. I will follow it up ASAP. The earlier one starts the better, right?

Happy new year.

Yes O! the earlier the better.

Investment › Re: Mutual Funds by carpenter(m): 2:03pm On Jan 10, 2015

ernie4life:
welcome carpenter, how was the break?

not bad bro...need some more though grin

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