₦airaland Forum

Ty207:
fixed account give interest of 10-13% per annual pls can you tell us what make MMF better off fixed account?

emeka94:
OK thanks

Oga carpenter where art thou

sammily:
Currently running MMF with FBN Capital and so far so good. Investment dividend is paid quarterly and was paid mine this week. From my calculations, the interest rate I received for the 3 months investment is 10.88%. TB seems to be improving now, if the next bid rates are high enough, I just might pull out of it and go for TB.

carpenter:
So I did a little digging on FBN Capital site today with the aim of rebalancing my investments. For over 2 years I have only been investing in their Money Market Fund (MMF) but they have two other mutual funds (although not rated by a rating agency and of higher risks; higher risks also means more profit). They are Heritage Fund and Fixed Income Fund ...

http://www.fbncapital.com/asset-management/our-products/mutual-funds

The funds differ slightly depending on risks, profits, holding period and so on. People that do not want to invest directly in the stock market might find them interesting.

I would be leaving 60% of my money in MMF while 40% will be distributed between the other two.

jamace:
Na rich men no de sleep o.

ednut1:
Stanbic ibtc asset management mutual funds are the largest in Nigeria and staffed by experienced professionals. Will be back with more information.

MudRaker:
Liar!

The problem lies within the government organization where the budgeted money for salaries has gone way up than what was initially budgeted within the budget that IPIS will not honor. IPIS does not handle cash but is the online platform that credits salaries from CBN directly into the respective civil servant's account. If the money budgeted has been exceeded without neccssary directive from the Auditor General's office to compliment the budget for the given organization then no IPPIS can not pay.

There is serious management lapse by the organization involved either by increasing the employment base, salaries or even making the necessary financial consideration for promotions without notifying the Auditior General's office.

The 187 staff retrenched by NCAA on the directive of the Minister of Aviation where found to have been employed by the outgoing DG without due process. This is what you have in most organizations that have not been paid.

There is a reason I call these people evil servants.

The delay is nothing to do with unavailability of cash as this particular administration is he best so far for paying salaries on time

pragmatistm:
I happened to be among those that purchased the said stocks. I checked recently in one local newspaper for its current value but could not find it listed. What could have happened to the investment?

carpenter:
Yeah you are very correct but the problem with changing with banks (or investment houses) from any currency to naira (USD for example) is that you lose like an average of 5% of the naira equivalent compared with the black market. So lets say eventually she wants to use the money and needs to change it back to dollar after a year...chances are that dollar would have appreciated against the naira (of course the reverse can happen but unlikely or remain the same). I don't have any statistics to work with so lets say the naira loses 3% against the dollar....she then will have been better off investing in the US for 6% than in Nigeria at 12% (4% effective) for that period. This would not have been a problem if you could change via the banks or investment houses back to dollar at the CBN rate but chances are that it will not happen. They are happy to receive but not so happy to give.

I would only transfer dollars for an investment if the investment is denominated in dollars otherwise, will change it with a money changer (by the way, someone runs a foreign exchange biz here...) try this thread https://www.nairaland.com/68738/how-much-did-exchange-dollar/86#26808717

Arbitrade and others have been doing this for a while.

9free:
Na my Portfolio be this!!!!!!
No oooooooo......... it can't be.
Maybe I mistakenly logged into Oga Born2BeRich own.
Make I check my username and password again

bigjay01:
Like I insinuated earlier, it appears these guys do not believe in their own story!

scaranek:
Hey carpenter,

Is the capital guaranteed in all these funds? ......and from your experience what are the fees like? can I also monitor performance online?

amustsuccess:
Please! How those the Oando right issue affects my current Oando holdings?

Elai147:
Try Diamond bank. Other banks may have this service as well.

Dexterax:
You and I forever abi?
Correct.

sky2891:
Thank you so much. I have really searched for the email address and that's why I seek help cause I need to write them as I am quite far from Lagos. Please, can someone avail us the email please

sky2891:
please, I need the email address of registrars incharge of Niger insurance. I need to inquire from them the status of my dividend.

picsOR:
Noted brother, Gracias. I'll look them up and pay them a visit within the week.

brimicx:
@carpenter thanks but they give loans to lagos residents only

Born2berich:
Market price drops they blame myjoy08, when market gains they blame chibuking. It is really funny indeed.

FranklinRich:
Well said sir. This is becoming very comical and it is quite entertaining.

brimicx:
Still on course

sammily:
Morning house, I'm considering going for First Capital Money Market fund because I already have an account with FBN but I will like to know how secured it is, how great the risk involved is especially the principal.

FranklinRich:


Bulls make money, Bears make money, Pigs get slaughtered.

Josh121:
who is buying OANDO ?