₦airaland Forum

brainhack:
Presently interest rates on Tbills are better than what is available on mutual funds. As at friday, StanbicIBTC Money market rate was 11.5% (its raising though).

I lost my bid for 364 days on Wednesday (i'm a first timer ), I transferred my funds back to money market.

For me, ease of access takes a slight preeminence over interest rate. Not sure of how easy it is to recover funds in TBills without waiting out the tenure but with StanbicIBTC MM i have my cash within 24hrs.

Olu20090:
You think Olu is a yoruba name only? Agbaya like you...travel out of your mud region.
I speak both Igbo and yoruba.

Olu in yoruba, the "O" is pronounced as "Old", whil in Igbo it's pronounced as in "Organ"

Igbo examples
Olu - Oluchi
Olu-Oluka
Olu-Oludinma

Olu20090:
Look at this yorobba thing. Igbo broke...lol? Do you know 50% of bank deposits are by Igbos? Go and ask any bank manager. Yorubba deposits are only 5%. I was a banker.

Olu20090:
Not sure if an Afonja can afford it. Do you people have money? We are talking about Igbo spenders with business/investment money not civil servants with handouts that 90% of afonjas are.

Chibuking81:
with any itrade platform you can buy and sell stock daily, that also make you a stockbroker on your own. When you have your own personal laptop and you open an account with morgan capital stockbroker, in the comfort of your home you can buy and sell stock in NSE market from monday to friday, between the trading hour of 10:30 am to 2:30 pm, morgan capital will only collect 0.625 when you buy and 0.925 when you sell.

Chigold101:
lolzzz
Whoever that wrote this trash had not been to Onitsha shoprite before.
If i had seen this bull.poo around 3pm. I would have taken pictures of people almost fighting cos of que just to buy bread.
Onitsha shoprite shuts their doors and stop people from going in almost every sunday cos of over crowd.
If this writer had said ONITSHA MALL idles away, i wouldhave said he is right.
Cos right now, apart from few businesses like Kilimanjaro, Blueribbon, SLOT, Priceless etc. Most of the shops are yet to be taken.
Bros, take a walk to shoprite anyday especially weekend, u will have a different mindset. This writeup is trashy bull.poo & filled with mis information.

tinsel:
No shopping mall can survive in Onitsha as far we still have main market and other markets.

Adex097:
STFU Boy, your inability to understand the contextual meaning of my statement shows how imprudent and low IQed you are.

handysuzy:
My thought exactly when I was reading his rather long epistle. I thought in the end he will tell us how he has made 20million dollars. I bet there are over 1000 people reading his story doing better than him and they will just shake their head in dismay. Funny dude!

Adex097:
As an Economist, I don't give a flying f*** about accounting profits.

naturalwaves:
It is not the norm. 20k? That is too low. Damn too low. What you charge depends on a lot of factors. Your client, what you teach etc. Infact, I once charged 75k . I have a friend that charges 20k per hour. I have seen someone collect 150k per month. Like I said, depends on you, the client, your negotiating power, knowing your worth etc. So, you are right, 50k is not the norm . You can get as high as 180k(a friend of mine collected this steadily for 1year for teaching a girl mathematics and after she passed her entrance exam into one of the most competitive secondary schools, her dad slammed my friend with a 500k thank you cheque). All these butress my points about the numerous opportunities here.

naturalwaves:
It is not the norm. 20k? That is too low. Damn too low. What you charge depends on a lot of factors. Your client, what you teach etc. Infact, I once charged 75k . I have a friend that charges 20k per hour. I have seen someone collect 150k per month. Like I said, depends on you, the client, your negotiating power, knowing your worth etc. So, you are right, 50k is not the norm . You can get as high as 180k(a friend of mine collected this steadily for 1year for teaching a girl mathematics and after she passed her entrance exam into one of the most competitive secondary schools, her dad slammed my friend with a 500k thank you cheque). All these butress my points about the numerous opportunities here.

naturalwaves:
@OP, whatever you do, I will advise you to pick up any job in that area or axis even if the salary is 50k. When you are there, it is like playing in a big league. You move from one school to a better one within a twinkle of an eye. Some schools around that axis are in the lower cadre like the one you are considering while others are in the higher cadre.

I teach in one of the schools in Lekki and it is not bad. Moreover, education is highly valued here. You have great prospects for private lessons. At 2 times per week, 2 hours per time, the minimum I have ever charged is 50k (a grads salary with government). What do you think will happen if you have 2 of them? Before you know it, recommendations, referrals etc i. E if you are very good. You will have to even start turning down the private lessons offers at a time.

coulisse:
for those saying fool paradise I want to ask a questions are you teachers you think it is your place where they collect 15 thousand naira as school fees
some schools here take one million to two million as school fees
abeg park well
teachers in Ajah should please clarify you can see School fees of 120,000 some 200,000 it varies
I am sure does people saying the price is high pay 5,000 as school Fees in their areas
this is Ajah here that people that work in ikota shopping complex take 25-30 thousand as salary a month
do you know the work a teacher do you think it is a for apple b for ball c for cat please park well

anitank:
Just like scoring an offside goal in a footbal pitch, diving on finish line in racing should not be allowed. To make it a fair race, the foot which touches the last line first should be declared the winner otherwise people would start diving into finish line from 100 meters behind

vislabraye:
They tried. They were so close to Brazil at a point that they could have overtaken them. The Tigers had good defence but their attack was not well coordinated. I also observed that the Brazilian players were tall..

Rizin:
This calculation is a problem to many.
Look at this, somebody did a job in A firm and realized 1.2million. he added 5% vat which is 60000 so his total figure was 1260000. The money was paid in full and government took their 5% which is 63000 and not the 60000 he calculated earlier. YOU CAN NOW SEE THAT HIS 5% IS WRONGLY CALCULATED.

Now if I have 502000 and wish to involve all the money in TB at 17% (may be for 364days) what figure should I get? Very simple
1. subtract that rate from 100 = 83
2. divide that your money by this figure and multiply by 100. = (502000/83)*100 =604819

3. Now if I have 502000 to invest, I can confidently fill in 604819. now 17% of 604819 is 102819.
4. then 604819-102819 = 502000. which is the amount they need to withdraw from my account.
5. funny enough if u do this, you will have to pay for service charge over the counter. hahaha sometimes mathematics even though it's true, it is far from reality.
6. One good question to ask Is WHAT IS THE GAIN?

If I used 502000, I will have 85340 which is my 17% dormant on my account.

but when I used 604819, I will have 0 on my account but after maturity I will get 102819 extra instead of 85340.

zamirikpo:
@chukyzfcb, I don't understand y u would want to bid higher than the amount u have, how does it benefit u ? Rates r not determined by how much u r bidding with.

Am just wondering if am missing something here....

unite4real:
Your question was answered. Let me further explain by analysing.

First of all, your calculation is wrong. 10% of 110,000 is 11,000. Subtract this from 110,000 will give you 99,000. You are expected to have 99,000 in your account.

Option1
1. You have 99,000 in your account
2. You place a bid for 110,000
3. You bid 10% (10% of 110,000 is 11,000. difference is 99,000)
4. You place the bid because you expect to be successful with a 10% rate which you placed yourself without going with bank rate. You did this because 10% discounted will enable your account to have the 99,000 debited

Option 2
1. You have 99,000 in your account
2. You place a bid for 110,000
3. You go with the bank's rate (prevailing rate)
4. With this bank's rate, whatever the auction close with the bank is what applies to you. Lets assume the auction closed at a successful 8%, after discounting, (8% of 110,000 is 8,800. difference is 101,200)

That is why i told you that it can only be possible if you either place your own bid rate or your successful rate if you go with the bank's rate is not less than your calculated 10%.

i have assumed the insignificance of custodian and other fees.

unite4real:
It is possible only if you go with your own bid rate. By requesting a rate of 10%, you are sure the expected debit amount will not be more than what your balance is. But if you choose to go w ith bank's rate, the expected debit may not be what you expect. It may be higher with a lower interest rate. For banks that insist you don't bid for yourself, this may not be tenable

erico2k2:
You are missing the point,Plz read again you will see and realize I was talking about salary earners, hope it makes more sense now

slegerman:
Going my the rate in June, does it mean I would have earned 8.16% if I had 100,000 NGN (i.e 8,160 NGN) in the fund at the end of June?

Please explain.

feelamong:
VERY POOR RETURNS..

WHEN PEOPLE ARE GETTING 16% PER ANNUM PURCHASING TBILLS THEM SELVES..