₦airaland Forum

Raider76:
What do you think the new bank will be called Unity or Providus? Either way don't you think they will have to do a restructuring including a share restructuring?

Don't you think the suspension is intentional for a CBN regulated bank? Usually banks that are defaulting go through a license withdrawal by CBN first.

The suspension is a regulatory issue it's not peculiar to unity bank other companies are affected too. It's what the regulator (NGX) do to listed companies that fail to submit financial reports as at when due.
The issue of banking license is a different scenario

Lungdick:
Stanbic doesn't offer something like that?

They do, just that I prefer Norrenberger, in terms of rate and operations.

If you prefer Stanbic it's okay. You can register by clicking the first link on my signature.
The truth is that the laws guiding all the funds are from SEC our choices may just be influenced by one thing or the other which could be personal opinions about the fund managers. Outside that there is no difference.

Lungdick:
GM emmasoft

Please is there any USD mutual funds here in Nigeria?

Like you invest in the funds with USD and get your profit also in USD

If there's any, please recommend

Good morning Boss.

Yes, there is a Norrenberger Dollar fund I can recommend for you.

currently, the rate is 10.67%. All transactions both capital and returns are in dollars.
Complete the attached form to register.
Chat with me if you need more clarification. My number is on my signature

yMcy56:
ZENITH
Corporate Action.....
Interim dividend: N1.00
Qualification Date: 13th September,2024
Payment Date: 20th September,2024
Nice one from ZENITH ...

https://doclib.ngxgroup.com/Financial_NewsDocs/42085_ZENITH_BANK_PLC-ZENITH_BANK_PLC__CORPORATE_ACTION_CORPORATE_ACTIONS_AUGUST_2024.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/42084_ZENITH_BANK_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2024_FINANCIAL_STATEMENTS_AUGUST_2024.pdf

Nigerian banks particularly the big five always know how to navigate their way. This capital raise currently on, will be a case of if you want more cake, bake more, they will absorb the dilution of their shares with improved earnings and pay better dividends. Zenith has shown the positive signs.

Bababull:
Thank you so much Mr Emma for your assistance on mutual money market 🙏

The pleasure is all mine.

vanvickie:
I have finished filling the registration form, however, I keep getting this error message while trying to submit "Error [object Object].

Is this a network ish or something else, coz I've tried using both my phone and laptop and the error message still persist even after trying over 5times.

This is a network issue. Don't try it immediately. Wait for some time before you try it again.

vanvickie:
Good afternoon Emma,

I'm interested in registering, however, I want to confirm:

1. if I can conclude all the registration wt stanbic ibtc online (that is without visiting the office)

2. If I can also place withdrawal and other requests online and it'll be processed or will I have to have a telephone conversation wt them or visit any branch before withdrawal?

Thanks...

1. Yes. Everything can be done online from registration to Redemption. In fact, many clients in the diaspora have not even been in Nigeria for years and are dealing successfully online. Click the first link on my signature to register.
pick tier 3 when you get to that option. Tier 1 is limited actually for financial inclusion, it can't hold an amount above 200k but Tier 3 has no limit, you can invest as much as you have even if it's billions.

2. Yes. Redemption can be done using the app or online portal without leaving your location. If you apply to redeem before noon you get credited the same day, if after 12pm, weekend, or holiday, you get credited the next business day.

Please use my link to help my ministry. I am looking forward to having you onboard.

enque:
Gross or Net??

Gross. The net will be 23.53%

Raider76:
Please those trading on NASD, how does one fund one's account? I tried registering on my phone they ask for CSCS number. Is it same as CHN? Or must one open a CSCS account with a broker first and supply that number?

@Raider76, you must first open a NASD cscs account with a firm that is have NASD trading license before you can register on the app for trading.

You can open a NASD cscs account with investment one.

Obinnau:
How does what happens in the stock market affect mutual funds? Assuming we have a financial catastrophe like that of 2008, how will it affect mutual funds?

Cc: emmasoft

Happenings at the stock market are normally inversely proportional to what happens to mutual funds particularly MMF except mutual funds that have stocks as the underlying asset or part of the underlying assets. I guess most of us still find it difficult to understand when we say MMF is a low-risk investment. If the stock market crashes it's sometimes a boom in the fixed income and MMF segments that is one of the causes apart from other factors related to the economy or investors' behavior.

The worst that can happen to any investment in MMF is that the rate can be drastically reduced just as it happened a few years back when Tbills went as low as below 5% in some of the tenors but nothing happens to your capital.

There can only be an issue if Nigeria ceases to exit or the Federal Govt. could not fulfill its obligation to investors who invested in Tbills.

Leilami:
Good Morning nairalanders and @emmasoft. Please what's the initial process to go through with investing and which is the best mutual fund you would advise?

Thanks.

The initial process is what you already started by coming here to seek more knowledge.

Please read my previous posts and others here and you will be well guided

You can register with Stanbic or Norrenberger. They are both good.

For Stanbic, click the first link on my signature to register, or complete the attached form for Norrenberger. You can also chat me if you need further clarification.

petlaz:
Hello house,

How long can someone invest in MMF?

Can MMF be a long-term investment like 10 years or 15 years?

MMF tenor is determined by the investor, it can be as short as 30 days or as long as you wish. 10 years, 15 years or for life as long as it's meeting your investment objectives.

kalu61:
I will chat you up for opening stambicibctfund account

Okay, you are welcome. You can as well click the first link on my signature to register.

emmaodet:
VFD current price is #45 not #2.56

@emmaodet, Locotrader is talking about Abbey Mortgage bank not VFD. He's saying VFD has a controlling shares in Abbey Mortgage bank

owenabuka:
Please.

if I invested 500k in mutual funds with stanbic IBTC. And the funds have stayed a period of 30 days.
Can i withdraw everything from the account including the interest?
How easy is this and does it have any charges?

I am scared of going higher on this investment so is there like a insurance on Invested capital?

By the way, @owenabuka, why are you scared? I wonder what you will do if you invest in stocks or other high-risk investment windows.

You don't have any reason to be scared, there is a reason why all MMFs are classified as low-risk investments worldwide. Your money is safer in MMFs than in some MDBs. It's low risk because your capital is guaranteed by law which is even more than insurance.

Apart from serving as an investment, most investors use MMF as an emergency fund because it's liquid and safe. Even some traders in the capital market use MMF as a placeholder for funds while waiting for the right price to enter the market. Many also use it as a personal pension and the fact that entry and exit are easy, life is made easy when withdrawing to settle urgent cash needs.

You can have as much as you can in MMF, institutional investors and HNIs have billions in MMF. The law guiding Pension Administrators allows them to invest in MMF more than stocks because MMF is regarded as a very safe investment.

I will advise you not to cheat yourself of good returns. You can even opt for reinvestment of interest to take advantage of the power of compounding.

The above is in addition to what @Batman2412 already posted.

NB: MMF has the following as a party to the fund

1. Fund manager
2. Custodian bank, which should not be affiliated to the fund manager in any way
3. Trustee
4. SEC

It's not a one-man show.

Onboard1:
Good evening everyone.
My small question goes like this.

I have MMF with Stanbic IBTC. Assuming the bank fails, how will it affect my investment?

Please note that your investment in stanbic MMF has nothing to do with stanbic ibtc bank.

When you invest in stanbic MMF you indirectly invest in Tbills and commercial papers of reputable companies. You can only lose your investment if Nigeria government default in their obligations to investors in TBills. The probability is near zero.
By the way, stanbic ibtc bank is not even the fund manager rather the fund is managed by stanbic asset management a different entity even though they in the same holdco with the bank.
All the cash invested in MMF don't even pass through stanbic, SEC will not allow that. The custodian bank is UBA.

Wondamania:
Hello emmasoft, I have the app, but cant find the T-Bills section.
How do I get started please.

The treasury bill icon is on the dashboard once you login.

See attached with the green arrow to indicate Tbills

Obinnau:
Hello investors. How do I sign up to test my hand 9n stocks. I am a newbie. this information I got from reading the first few pages of this thread and I wish to ask whether this is still the method or a more friendly digital platform to sign up on. I am looking to start making some long term monthly investments into stocks.

I will appreciate your guidance. Thank you

You can sign up online with Investment One Stockbrokers using the third link in my signature.

you will need a passport photo, a government-issued ID card, a utility bill not older than three months, and your signature.
please note that investment one will not ask for cash to open an account, it's free. Be in touch if you need more clarification.

Susantice:
Can I topup funds to stanbic mmf on weekends

You can, but you will have value on the next business day.

machine606:
Is this upgrade exclusive for the App or the easyinvest website is incoperated. I haven't seen that part using the web.

It's only on the app for now.

adedayo77:
@emmasoft.
Please what's the formula for calculating interest on mmf? e.g. Let's say principal of #7M with current interest rate of 20.91% will yield interest of how much?

Thanks

It's same formula for simple interest and then prorated to daily interest.

Using the capital stated, and with the assumption that rate was constant, no reinvestment, no top up or partial redemption for one year, here is your interest
I= 7m*20.91*1/100
I = 1,463,700 this is what you get for 1yr.
Daily you will have 1463700/365

4,010.14 is what you get daily.
But if you pick the option to reinvest the accrued interest you will have more even if the rate remains constant.

This is just estimate and with the assumptions already stated above.

TREASURY BILLS MADE EASY IT'S A CLICK AWAY!

Get in touch to get started.

TREASURY BILLS MADE EASY IT'S A CLICK AWAY!

Get in touch to get started.

RoyalP101:
I transferred money to my FBN MMF on Monday morning, up until now it has not been reflected in my Account. I have mailed them severally since Monday, yet it has not been resolved. Just tired and I don't know what to do again. I need advice, please.

You can also call them.

Joyful365:
Please I need investment advice.

I'm kinda stuck investing my $15000 funds with my bank in like a fixed deposit at 6% with very heavy penalty (80%) if terminated prematurely.

Please I need better alternative as I don't know any and how to go about it. This is my life saving so I'm kinda cautious so I don't lose it. The failure of Heritage bank and the abysmal NDIC coverage is making me have second thoughts about holding my investment in any Nigerian bank.

Is the amount I have too small to invest directly in USD denominated bonds?

If no, please how can I get started?

Please help copy other knowledgeable people here to guide me.

Cc: skydiver01 bfn1 emmasoft

@joyful365. First you need to know your risk tolerance and be sure you can cope with the risk involve in any investment product you wish to invest in. Note that Eurobond is not a low risk investment there is some element of risk though it's moderate, even dollar fund has eurobonds as the underlying asset.

However, having a long term in view, dollar fund will be a good alternative.
You can go with Norrenberger Asset management for the dollar fund.

Get in touch for details on Norrenberger dollar fund.

Susantice:
Hi, can this changes be made on the settings. Like reinvesting the accrued interest

Send a mail to customer care any time you wish to change your option on how your accrued interest is to be utilized.

SimpleGuy001:
@emmasoft thanks for that.

Well I left mmf then due to bad rates. When tbill rate was better. So now I’m thinking of doing mmf not sure the rates now.

I have got 2.5m in Tbills and thought of building a mmf account that I can build overtime too.

I guess I’ll see about that.

Yes . MMF rates are looking good right now. To go with Stanbic, click the first link on my signature.

SimpleGuy001:
Tbills or MMF?

Which to choose and why?

Some reasons why I will Prefer MMF to Tbills

You can start mmf with much lower amount compared to tbills. With 5,000 you can start investing in Stabbic mmf. The least for tbills is 100k.

When rate increases, it will not affect already invested funds in tbills but it does with mmf

You can't top up with tbills. Top up is very possible with mmf even if you want daily top up.

Terminating before tenor expiration in tbills comes with penalties. For mmf after just 30 days, exit is without penalties.

mmf has other instruments like commercial papers that contributes to its rate.

You can easily automate reinvestment of interest in mmf ie taking advantage of the power of compound interest.

It's the investor that determines mmf tenor hence you can hold mmf as long as you wish no restrictions, tbills particularly primary auction has fixed tenors 3 months, 6 months or 1 year.

Right now mmf rates is on the rise.

However, that is not to say Tbills is a bad investment. The one you pick MMF or TBills actually depends on the reason for investing among other factors which most times are peculiar to the investor.

gbengene05:
thanks for this, I engaged them and they posted one out of two transactions I did. I will engage them further next week.
By the way any BETTER alternative?

Chat me up. Check my signature for contact details.

gbengene05:
Good day, do you have Stanbic IBTC customer care number because they've not not anything regarding my deposit.

That is not normal.
Reach out to them on
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