₦airaland Forum

awesomeJ:
I used to think so too, but apparently Stanbic applies WHT on the MMF incomes before they credit it to you at the end of the quarter. The only way around this is to choose to reinvest the interest. Since I learnt this from them last year, I have opted to have my interest reinvested, then if I need cash I can simply redeem a portion of the investment without any tax burden whatsoever.

Safiaa:
Trust me, you don’t know what unconditional love is until you have a child. Even if the father in law doesn’t offer money, I’ll still love that child and stay with my child’s father.

eezeribe:
Is it from your MMF that the 10% withholding tax was deducted?

millomaniac:
He did not apologise for calling the president incompetent. He apologised "if his words were misunderstood" and not neccessarily for the word "incompetent" they are two different things but as usual blinded by tribalism you will rush to throw insults.

Ogbeni geraraia jor. Is like saying you are Hausa but you are not aboki or Mala.

NwaAmaikpe:



I hope she won't accuse her teacher of sex-for-grade when she fails?

Because this woman is incapable of passing even a single subject.


But this is disgraceful.
If my grandmother belittled herself like this I will first slap her before disowning her.
What does she even need the education for?

ImperialCovfefe:
Are you positive ARM deducted withholding tax from your accrued interest? If yes, you need to query them immediately.

olyrayy:
This thread is for Mutual Funds but it seems that majority of the focus is on MMFs. I quite understand this, as most people are scared of losing their hard-earned funds. I, on the other hand, am quite young and practically have nothing to lose

So, I'm kind of interested in equity mutual funds. Can any of the ogas here help out in this regard?

For instance, are closed funds the same as ETFs? Also, when the stock market dips, does this affect the Net Asset Value of equity funds?

Thanks a lot.

ImperialCovfefe:
There is no withholding tax for bonds (10-year tax waiver) and short term government securities.

I was also credited my accrued interest by ARM, and there was no withholding tax deducted. Only a commission (for bank transfer) + VAT-on-commission fee of N52.50 was charged.

shegonchy:
There is a misunderstanding or should I say discrepancy here. Your income shouldn't be subjected to tax, it's shouldn't be taxable. Do confirm with your financial institution

saintol:
The Professor taught me a borrowed Management course when I was in part 3 then. But the main issue here is this, majority of these lecturers are into this kind of thing. There were lots of stories back in school then. And this thing is happening in virtually all the so called schools. I once had a female friend who was not that brilliant that fell into such trap. I could remember when I was told the said girl went to check her result ( results are sometimes pasted), and the lecturer failed her. The funny aspect was that when the lady saw the result she didn't know when she said, ' La duru bi bobo yi ... (she mentioned the name of the lecturer) se domi to, F lo fun mi", everywhere was silent.