₦airaland Forum

ahiboilandgas:
Nova Merchant Bank Limited is seeking to raise up to N10 billion 7-year Fixed Rate Subordinated Unsecured Bonds under its N50 billion debt issuance programme. The bond has a yield of from 12 per cent to 12.50 per cent. The offer, which opened on June 30, will close on July 8, 2020.

According to the bank, it will use the proceeds from the bond issuance to invest in long-term risk assets, as part of its medium-term growth strategy. Proceeds of the bond issue will also serve as Tier-II capital for the bank, within the requirements of the Central Bank of Nigeria(CBN).

Oversubscribed by almost 300%

emmanuelewumi:
As at yesterday these are the rates for Money Market Funds, with the three firms I have dealings with.

1.FBN Asset Management 5.3%

2.FSDH Asset Management 6.19%

3.United Capital Asset Mgt 7.23%


Rates are determined by the proportion and duration of Treasury Bills, Commercial papers, FG bonds and Fixed deposits, they have in their portfolios.


The rates are poor but still better than buying Treasury Bills, MMF are also more flexible

Hello Emma,
I tried opening an account online with United Capital Plc,
I got a mail requesting for the following info.

Are these the usual information for acct opening and can I oblige.
........

Kindly provide the information below to enable us process his account opening request.

 

Residential Address Gender Name and Address of Next of Kin Bank Account details Employment Details Annual Income Source of Income

 

 We will also need the following KYC documents; [Means of Identification- e.g Data Page of International Passport, Drivers Licence, NIN Slip/Card, Voters Card], Proof of Address [e.g- Recent Utility Bill (3 months or less), Drivers Licence, Bank State​ment with your address indicated on the front page], Signature specimen and passport photograph.

damilola1978:
excess liquidity is the issue and not forgetting our rubber stamp Senate that has been approving quite a number of huge foreign loans ...like everyone is saying, one has to venture into one of these industries..these rates may not edge up till when it's time to pay back those foreign loans...I want to see how our government will rob peter (collect foreign loan again) to pay paul( offset existing foriegn loans)

FG is playing out some tricky moves with this ridiculously poor TB rates, while piling up external debt. I tell you when the time comes all these foreign loans wont be paid back. We have been through this same gimmick before by embarking on aggressive debt cancellation/forgiveness. Hence they rather pile up external loans than increase TB rates

Theconglomerate:
Ask the person how much he withdrew.
I wonder why others are facing problems with fx withdrawals while some are saying it's so easy.
I just have to conclude that the sum they are withdrawing is the difference.

I guess all these banks have their staff monitoring this thread, my bank have been sending me repeated SMS, that I can withdraw or transfer $5k daily from my dom acct. I never made such request, hence wonder why the repeated sms daily.

.

Akin3891:
After the 2 months grace expire, she may ask you for a proper quit notice , she cld say give me quit notice if you can't be patient with me to move out. Commit her by signing an undertaking letter to move out in or before 2 months time. I was in a police station earlier today for a case similar to this, the tenant begged for 3 months grace to settle rent, after 3 months elapsed, she said pls give me quit notice of 6 months, I was like gosh, you played me. I had to use my police connection to turn things around. With my previous worst experience, I can't take tenants to court ever again

Please enlighten me of what to do, one of my tenants is owning me close to 2yrs rent, every day story upon story. Though he's not a trouble maker but I guess he doesn't have much yet he wants to live in a decent flat. When it was a yr rent I got my agent to issue him quit notice, he came begging an crying and promised to pay up(I withdrew the quit notice) he did pay after a while, since then almost 2yrs now kobo he no pay. I've heard enough of him and want to get rid of him

emmanuelewumi:
I wish we have the inner eyes to identify opportunities

Very true, but also lots of insider abuse in the stock exchange are driving would be investors away.
When MTN was listed I think last year, I mandated a broker I constantly deal with to buy for me, behold my 5m was returned to me, he only buy for my Coy.
Also in those days when Oando did IPO, I experienced same fate, after holding my fund for almost a month, fund returned with msg oversubscribed.
Only yeye coy like Unic insurance, international brewery that constantly making loss, no dividend and Nig Breweries with poor dividend scalled true.
This made me completely lose interest in stock mkt

Phyde:
Nice one sir, but the citizens are not to be bashed sometimes at the bolded but our bad leaders and failed security system, e.g Niger Delta constant kidnapping then and the Chibok girls that gained world attention.

My apologies if I went too direct, wasn't meant to attack anyone.

Thisnut:
imagine someone bragging about good weather in nigeria when other countries are talking about innovation, infrastructure and good governance. I give up.


I'll take A pot of well cooked porridge over bad roads, epileptic power and bad governance anytime my brothers

It's either you are naive or don't know what heritage means.
People sacrificed and built America to the present state, that you an African see it as your Eldorado.
Your attitude is common amongst blacks that are really struggling in the US. Whereas successful one that are enlightened and have seen it all truly retraced their step and fully identified with their root, project thier country and not prophecy doom. Ask the likes of Anthony Joshua, Deontay Wilder, Stevie Wonder, Prof Ogunbiyi (prof of colorectal surgeon) etal. Yours is a typical trait of random wannabes.

Westerners live a life that ensure future generations can live better life than themselves and not a parasitic tendency you portray about Nigeria. If you can't see anything good in Nigeria, then stop rubbishing our image.

I pray you make it in the US though, but being in America doesn't mean success in life.

There is an African adage that says "A child abuses an iroko tree, he turned back and started running away"
Iroko won't strike him immediately.

Thisnut:
The reason why millions of Americans are now queueing on food stamps and don't have the 10% of 250k usd is simply because of the lack of saving culture over there, not because of unemployment or suffering .

An average American don't have fear for tomorrow, you get unemployment benefits when you lose your job, social security benefits kicks in as soon you're medically unable to work or as soon as you're 65years, This is the reason they live from paycheck to paycheck and have no reason to save up.

I'm amazed with the way you see and painted Nigeria.
Sorry to say, your likes are bad avert to this country. All what you ever know about your country is all negative. As has been aptly put by some analysts on this thread, no nation has it all.
Your type will be the one to evade tax at all cost here in Nigeria but will comply in US, simply for fear of deportation. And when they prove to you that you're an alein, you begin to shout westerners are racist.
Let me tell you the truth, you are an African and no matter how hard you tried to sell your birthright and dignity for a plate of porridge when the ships are down, you will be told the truth just as Trumps is doing right now.
You're even saddened that covid-19 death have not littered our streets with your unfounded hypothesis. I know you weren't born in the US, why haven't you died long ago before you secure visa to travel abroad since you claim we know nothing about medicine.
Where I work in Nigeria, we usually have this expatriate exchange program, westerners that visited Nigeria confessed during one of the valedictory gatherings, that Oyinbo people that ever visited Nigeria usually cry twice FIRST, when they are told they will be visiting Nigeria (because of the many negative things that is being circulated in the west, buttressed with unpatriotic elements like you) so they believe they are coming to live in hell. SECONDLY, when they come here and experience the opposite and began to enjoy life like never before (good and stable weather round the year, low tax, friendly people, respect etc) and suddenly the tenure expires and told to go back home. Thinking of what they will be missing, they begin to cry again.
When I visited Europe, most of my colleagues couldn't afford to buy or drive a car, they were all going on bicycle.
You will do side hussle investment TB, bond etc in Nigeria without any form of taxation. Opportunities abounds everywhere and that is not enough to cast your own to the dustbin

rationalmind:
Why do guys get married to people they don't trust?

I have my wifes bank app on my phone, she has mine on hers, I can move money between both accounts as I please, she can also do the same. She has access to my ATMs, has my pins and I also have access to hers.

Our "joint" account is in mutual funds. We both have the login details and can fund/withdraw independently.

God forbid if any of us dies tomorrow, the other has total control over any money left behind.

Good for you and stick with that practice.
The fact that it works for you doesn't mean it will work for all. As human beings we are wired differently and can never act or behave same way. There's no such thing as one size fit all behaviourally in marriage.
As we advance in marriage, we grow and learn more of each other.
For me, I will never keep a joint with my wife. That's my style and the way I want to live with my wife.
Neither have I request to know how much she has in her account.
I've seen and witnessed what those who keep joint accounts do to cook thier books in other to conceal vital information from the other half.
Some hide 50% of their salary in VSS and Coop deductions, print an entirely different payslip & emoluments letter to take home.
A woman once beg me to issue a dummy letter stating that her official/status car must be seen or driven daily to work. I asked why, she said her husband has hijacked the car from her which she doesn't like because they do share common acct.
Perhaps the practice was working for them at the early stage of the union, but destiny and luck differs. Along the line the woman became a high flier and way above the husband.

Marriage is about trust trully, but trust alone is not enough, understanding of each other, perseverance and ability to let go of your ego need to complement the trust. And more importantly financial strength.
In the case of death, both should have a will. I can't allow my wife to inherit my estate alone when I'm long gone. What if I die early, she can still go and marry another man, what happens to my siblings and parents?

I believe we've said enough on women and their spending pattern.
Women are wonderful being.
Let shift attention to what brings us to this forum - investment opportunities.

Stay safe