₦airaland Forum

MelaninGemstone:
Hello sir, please which of these accounts should my uncle pay to

He has successfully signed up and they sent this in the email with his e-account number

The first account details on the list. ie UBA Nom First Trustees Stanbic IBTC
Money Market Fund

petomas:
Good morning, I hav[color=#000099][/color]e a zero idea and interested in starting MMF. Please can you guide me through?
Thank in advance

@petomas. You are in the right place and I believe you will be well guided.
To avoid repetitions, I will advise you to check my previous post on this thread, all you need to know about MMF is already posted.

However, if you don't mind, contact me using the phone number on my signature. I will send to you a comprehensive voice note on all you need to know about MMF.

You are welcome onboard.

EndiaSami:
Good evening,
HOW & WHEN can one Top up. After the initial subscription is up and running

HOW - Top up the same way as you did for the initial deposit, using the same UBA account details
Transfer your top-up amount into the same UBA account and write your e-account number as the narration or description.

WHEN - Regarding the top-up, no particular method, time, or amount exists.
This is one of the advantages of MMF, with no restrictions. It's more or less like operating a savings account.
You can decide to top up daily, weekly, monthly, annually, or even a one-time lump sum deposit.

kemshade:
Good evening,
I just subscribe to MMF through stanbic.

How do I get my login password

After registration through the link or form, you will get your e-account number within 24 working hours if no KYC issues.
You will get a password that you are required to change at first login after you make your initial deposit..

If it's today you did the registration, you will get your e-account number on Tuesday after the holiday.

NL1960:
Did not know there was a penalty rule for a topup withdrawal that did not stay for 30days.

Yes, there is. That is the rule, any fund not up to 30 days gets that penalty. However, when making withdrawal, the system will show you your funds you are paying penalty on.

For example you have 1m there in the past 70 days and you top up with 100k today, if by tomorrow you want to collect 1m and 50k, the system will show you that you will pay penalty on the 50k ie 20% of the accrued interest on the 50k

MelaninGemstone:
please what’s the catch

This MMF investment seems too good to be true

21.5% per annum

How come everyone in Nigeria is not doing it ??

Please sir, what are the risks involved

Everyone in Nigeria is not doing it because not everyone in Nigeria knows about it.

Chat me up for a voice note for a complete guide, and all about MMF generally.

Neurotika:
Thanks for the response. However it’s still not very clear. Let’s say you have X amount of principal with interest accruing and rolled over into the next month. Then next month you withdraw a Y amount from the fund (once or twice), what’s the implication of this penalty wise. Also let’s say during a certain month, you top up with X amount and withdrew a Y amount (lesser or more than the top up amount), in the same month, what’s the implication of this too.

One rule is that any deposit must stay 30 days or more before it can be withdrawn without penalties otherwise you are charged 20% of the accrued interest on d amount you are withdrawing.

Read the bolded carefully it answers your question.
Or chat me up with the number on my signature.

Neurotika:
Pls can you explain this penalty further? For existing investments that is usually rolled over.

There is nothing like rollover investment in mmf.
Your capital is always there, you only do the following: top up, reinvest interest which is automatic, redeem part of your investment or liquidate your balance ie capital and interest at any point in time.

One rule is that any deposit must stay 30 days or more before it can be withdrawn without penalties otherwise you are charged 20% of the accrued interest on d amount you are withdrawing.

MelaninGemstone:
please my uncle just signed up for mmf, but he didn’t see where to chose the investment duration
28 days, 6 months, 1 year etc

Please advise

Please note MMF duration is determined by d investor. No specific tenors is set out by the fund managers. MMF is not like Tbills that has specific tenors.
You stay as long as you wish. Now that he's signed up, he can leave any time after 30 days without any penalties.

I will advice check up the last 5 pages before the current page on this thread, I have given answers to similar questions like this.

You can also reach out to me with the phone numbers on my signature.

Tohmey:
Buh why is United capitals and Stanbic funds so high to compare with that of sfsfund

That is what I just explained. Right now you are comparing MMF with Fixed income and that will not be correct.

Check the fixed income of Ucap and stanbic, non is up to 10% even the one of FbnQuest referred to as bond fund is about 12%. Currently SFS fixed income fund has the highest yield in the industry.
If you look at the average bond yield, it's about 18%. All fixed income funds have FGN Bond as major underlying asset and that is what differentiate them from MMF.

Like I have always said here, investing in fixed income fund is indirect way of investing in FGN Bond at convenient.

Same way MMF is indirect way of investing in Tbills in bits at investors convenient.

MelaninGemstone:
@Emmasoft,

Sir, please why can one only withdraw 5M per day when they are ready to liquidate their funds from Stanbic Money Market

Don't worry about the amount to be withdrawn, You can redeem any amount using the redemption form. If he decides to liquidate both the capital and interest, complete the redemption form and send it to customer care your request will be actioned as requested irrespective of the amount involved.

Harshreality:
Thank you very much. Please do you have their current rate?

The rate varies depending on the tenor and the amount involved.

You can contact me so I can forward all products and rates to you.

Richdiamond000:
Hey guys

I contacted GT Fund Managers about investment, the gave me forms to fill and account to deposit my investment amount.

What that made me surprised is the fact that the account was a Stanbic IBTC account

Why would GTBank Fund managers be using an account with Stanbic IBTC ?

Does this mean the fund I’m investing with them is going to be re-invested by them into Stanbic Money Market Investment ?? This is weird

Read my earlier post precisely the one I made on 16th June 2024 on this thread, it will answer your question.

missphumby:
someone please help me, i want to start investing in stocks, i need a stock broker to guide me, i am pained that i missed out on oando already 😪

You need knowledge. Don't rush. The stock market is not about a single stock. The market is structured to enable you grow your wealth having a long term inview with strategic buying and selling while you wait.

Come over to Investment One Stockbrokers we can take you through all you need to know.

Click the third link on my signature to open a trading/CSCS account to start.

Make sure in all thy getting get knowledge to avoid the stories that touch.

Tohmey:
Chai...
Why is sfsfund still sleeping

SFS is actually fixed income fund not MMF. It's still the best in terms of fixed income fund. The fund is good if u don't have large sum to invest at once, you want to have the opportunity to top up and still wish to participant in FGN Bonds.
The rate is not as volatile as MMF which is valued daily

Fwaz:
Having difficulty validating my bvn, what should I do?

Sometimes it's network. You can try again later.
Or u can use the form in that case you will print, complete and send back to them.
Chat with me if you need more guidance.

Harshreality:
Please can investment one be funded with Naira?

No, they do all transactions in dollars

The only firm that allows naira deposits for Dollar fund is Norrenberger.
Please note, for the Norrenberger, it's not dollar placement but dollar fund.

Judah95:
Hello Emmasoft ,
I've been worried about a decision to make regarding a dollar-fixed deposit.

Can you let me know the pros and cons of a fixed dollar deposit on Investment One vs Bamboo investment, pls?
Investment One has a 6.5% APR,
Bamboo investment offers an 8% APR

What do you advise, pls?

I'll also appreciate anyone's advice too

I can only talk about Investment One because I represent the firm. I don't know much about Bambo other than it is a trading platform for US stocks, so I can't say much about their products. I don't want to mislead you in any way.

Investment One is regulated by the SEC, which is required for financial institutions operating in the capital market. Capital and interest are guaranteed within the specified tenor whenever you make your fixed deposit with them.

Pesuzok:
Stockbrokers smiling to the bank due to Oando. More than 2b naira worth of shares already sold/bought.

That is why I like the capital market. At any point, individual/corporate bodies are making money irrespective of bears, bulls, feelings, or sentiments. There is always an opportunity for all novices or gurus alike with short, medium, or long-term views.

Consistency is the best Approach to Investing

Having Knowledge about investment is GOOD,
starting an investment is BETTER
but continuous/consistent investment is the BEST

LIVINGICONREBOR:
Thanks for this.

Let me know when you complete the form, I will give you the email address to send the completed form and kyc documents to for a swift action and to have an officer attached to you immediately.

LIVINGICONREBOR:
Thanks. I am considering norrenberger dollar fund investment.

You can download the attached form and complete it. Or get in touch with the contact on my signature

LIVINGICONREBOR:
Is this rate of 10.67% per annum?

Yes, all government controlled investment is per annum

Polchiz:
Good morning boss,
Can I have two Stanbic IBTC money market fund account?
I just want to use the second account for another purpose.

Yes, you can open as many as you wish. You will be given another e-account number.

To start, click the first link on my signature, scroll to money market fund, and click BUY NOW. Choose the option as shown in the attached file and continue with the form to the end.

Diogo2019:
Good Day Mr Emma


Please what’s the minimum amount to invest

For the Norrenberger Dollar fund, the minimum amount to invest is $550

Deadlytruth:
Good day House. Please those who have at one time or another done interbroker transfer of stocks especially from other brokers to Morgan Capital, how many days did it take after you filled and submitted all the necessary forms and identity documents? Your responses will be appreciated.

Once it's confirmed from your target broker that they have submitted all necessary documents, all that remains is in the hands of cscs, No broker determines that.

If it's from an existing/functional firm to another operating firm, it will also depend on the firm you are moving from ie how quickly and willing they are to process your request.

In all, nothing less than 4 weeks from the date your new firm submitted the required documents all things being equal.

Something has been cooking.

Our much anticipated APP NorrenWorld is launching in 48hrs.

Watch out 💪🏿🔥🔥

Bababull:
Please must you click on your total returns at the end of the month before you can reinvest your returns or it will reinvested automatically on the Stanbic IBTC app?

Your returns are reinvested automatically if that is what you opt for during your registration. Actually the one for August already done.
You can also change your options at anytime.

Bababull:
Please Mr Emma.Do Stanbic IBTC MMF pay returns on Weekend (Saturday n Sunday)?

Yes. Investors get returns every day including weekends and public holidays. However, accrued interest of non working days will be posted the next businessday.