₦airaland Forum

thebargainhunte:
This is more reason fidson has to shift body. I would have believed that fidson would have been the market leader in that industry, but the way things are playing out, it could be mecure.

Do you want to use less than two weeks of price movement of a newly listed stock to determine market leader? hmm! Let them release up to five years' numbers after listing you will then differentiate the men from the boys.

dotstay01:
Good day my Bosses in the house, I have a friend with a pending issue and he is stuck without knowing how to proceed.
So he has shares on NASD with meristem stockbrokers, he wants to sell, for the past three weeks meristem hasn't gone through with the order claiming it is an issue with CSCS. Is there anything he can do or he should just wait it out till they execute the order..

Thanks for your prompt response

He has to wait and keep renewing the order. Please note NASD platform is not as active as NGX. Transactions are always very few. Buyers and sellers are not as much as they' are on the NGX.

freeman67:
Wow..!! Thanks so much for the info at least I now know why.

The holiday, was it for TB alone or it included CP because I am being tax for CPs too. The most annoying part is that they will not include it in proof of investment. I actually wanted to write CP up therebbut carried away with what I was doing?

The same applies for CP.

Check this article on nairametrics Commercial papers in Nigeria in 2023: 6 key things to note

freeman67:
He is not looking to make a new investment, he talking about the already subscribed SUKUK VI.

There are other CP's with higher rates; like SKDL and Robust international with coronation. My issues with TB is the sudden 10% WHT they are deducting from accrued interest these days.

Actually, it was a holiday of 10 years of no WHT on returns from T-bills since 2012 and it ended last year that is the reason the 10% WHT is back

Happyfellow147:
Can anyone help me please?

I opened an account with NISL as a stockbroker but sometime last year, they sent a mail about pausing operations or something like that and since then, I cannot log into my account with which shows my stock position.

I'm completely clueless on how to go about this:
Changing to a new broker and transferring my shared to a new broker.

First, contact the SEC and ask about the firm in question if it's a case of suspension/licence withdrawal or any other infractions

If it's a case of suspension that may have a timeline and they will resume trading once the suspension is lifted. If it's a case of licence withdrawal it means there may not be hope of coming back though that depends on the reason for the withdrawal.

In the first case, you will need to open another stock/cscs account with another firm and continue your trading/investing while waiting for the suspension to be lifted then you can tell your new stockbroking firm to initiate an inter-house member transfer and move all your holdings.

If it's the second case, you don't need to wait, after you open another account with a new firm, start the process of moving your stocks from the dead firm.

To open a stock account with Investment One, click the 3rd link on my signature and complete the online form. Account opening is free.
You can chat me up if you need further assistance. See the numbers on my signature.

drealj:
Evening,when is the next auction pls. And is there still secondary market

The next auction may be in January. The secondary market is every working day of the week.

egojeny1:
Lol

Let's enjoy it while it lasts. This thing na turn by turn. If Tbills rates continue on the rise be sure there will be more laughter and joy for MMF folks.

Tohmey:
Humm
What is the current rate of SfsFund

No doubt Tbills is a major underlying asset of MMF. However, the rate change is not automatic. It doesn't mean that the day tbills rate rise it will happen with MMF. It's has to do with revalution of the assets. Definitely increase in tbills rate will have a positive effect on MMF which we are already witnessing. Just hold on, in a short while increase in tbills rate will reflect more on MMF.

Have you noticed that the MMF rates have been higher than tbills rates for the greater part of this year? Moreover the benchmark for MMF rate is always the 90 days tbills rate.

By the way SFS is 10.02% as at today.

MMF or Fixed income fund remain a low risk investment that all investors can always falll back on when the going gets tough with the much riskier investment windows. It's also a very good point for newbies to dive into the world of investment because your fingers can never get burnt.
Again MMF becomes handy when it comes to building emergency fund.

To all the men in the house
Happy International Men's Day
May all that makes you a man- the planning and execution, risk-taking, providing for the family, etc remain intact.
Also, I wish all investors/traders a happy and bullish week ahead.

Tbills Primary Auction

For investors that wish to participate in the next Tbills primary auction, make sure you are at your bank branch on or before Tuesday this week latest by 10am to subscribe otherwise you wait till next year or buy at the secondary market.
To be on the safe side always go with the bank rate.

Alternatively, if you want to benefit from Tbills, Commercial paper, and FGN Bonds at the same time you can opt for a money market fund or a Fixed income fund.
Click the links on my signature to open an account or contact me for details.

Tbills Primary Auction

For investors that wiah to participate in the next Tbills primaru=y auction.
Make your you at your bank branch latest Tuesday 21, Nov. 2023 by 10am to subscribe.

Chikebrain:
An update to the above:

I reached out to Zenith Bank to liquidate my TB I invested this Sept and I was told I'd be loosing over N2M from my capital for having to liquidate it so I'd get ( XX,000,000 - 2M+).
I actually thought you only make a loss of the incurred interest or am I wrong ?

If the parameters, the rate in particular as at the time you subscribe to the tbills and this time you are terminating is not the same you are bound to lose some money. The truth is that you can not outsmart the system. Remember you collected interest upfront, if that interest is to be invested that means more money and that is part of your gain only if you hold to maturity otherwise the issuer sees that upfront cash as borrowed money and all borrowed money has an interest commitment.

The senerio that just played out is the reason most investors prefer MMF because of the easy entry and exit incase opportunity of better rate presents itself in another investment window.

So you can go ahead and make your decision it's a matter of opportunity cost. All investment decisions has a price.

Olaide1295:
Chairman @emmasoft, I'm hearing 16.5-17% and want to buy fixed income. I opened an investment-one account (through your link) but the account is empty.

I have some naira and want fixed income. I need help with this investment one o. I sent them an email some days ago, no response.

Apologies for the nonresponse from the team.
Please chat me up so that I can get more details of what you want and to escalate accordingly.

Thank you for your patronage.

ojeysky:
Findings showed that as of December 2022, Elumelu’s Heirs Holdings owed UBA N13.442 billion. However, the firm’s debt to the bank rose to N41.823 billion by June 2023. This shows that Elumelu’s Heirs Holdings borrowed N28.381 billion from UBA between January and June 2023.

Interestingly, while the loans borrowed by Heirs Holdings from UBA rose by 211.137 per cent between January and June 2023, the interest rate remained the same. The bank’s half-year financial statement showed that the rate was static at 15 per cent.

Baba is really gaming his own game:
https://www.icirnigeria.org/how-elumelus-heirs-holdings-borrowed-n41-8bn-from-uba-at-far-lower-than-market-interest-rate/

What do you expect. Normally the more money you have the less stressful it's to make more money all things being equal.
Money and position creates more opportunities and privileges for more money.

Biakwa:
Please do we have closing rate for today auctions?

That will be made public by tomorrow

debbydee:
Good evening gurus in the house.

I was at Zenith bank today to invest in TB but I was told the available rate was 121days at the rate of 7.5% I was surprised because I am only aware that there are 91, 180 and 364 days but the lady I spoke with said that it's not common I said okay she should go ahead.

At 5pm today she sent a message that the TB didn't go because the portal has closed.

Please what can I do?

Thanks

I guess the officer you met didn't understand what you really wanted. What you were told was available is a secondary market window where you can have tenors different from the regular primary auction tenors (91,180 and 364 days).

If you wish to participate in the primary auction be at your bank at latest 10am the Tuesday before the primary auction day and be specific in your request that you want to participate in the primary auction otherwise the bank will give you what is available in the secondary market which is on every work day while the primary auction is done fortnightly.

So if you still wish to participate in the primary auction you have to wait and then approach your bank again latest the 21st of November 2023 to participate in the next primary auction.

Hedgefunds:
They are yet to pay shareholders .

I'm sure Norrenberger means business and they will come up with what they will want to do with retail shareholders.
For now, they are consolidating. Norrenbeger wants to be a financial hub. They are currently in Asset management having about three funds, pension, stockbroking, investment banking, and insurance business. I'm very sure they will do shareholders well.

emmanuelewumi:
Are they still in business?

Norrenberger has bought a controlling stake in the company.
IEI is the insurance arm of Norrenberger right now.

EngrKemp:
Pls which reputable institutions do u suggest and what types of investment.
Note: I need the one for monthly roi and the percentage is?

You can invest in stanbic money market fund and opt for reinvestment. Every month, accrued interest is reinvested and since you need to use your returns on investment you can redeem it.
Otherwise you opt for payment of interest which will be paid into your bank account every quarter.
To open account, click the first link on my signature and complete the online form.
Or chat me up with the phone numbers on my signature if you need more clarification

creategist:
for this OMO with 17% returns can retail investors key into it? if so, how please?

OMO is not for retail investors, even CBN restricted fund managers and other institutional investor from participating some years bank and I'm not sure it has been reversed.

Only commercial banks and foreign investors were allowed to participate then and I think that policy is still operational.
I stand to be corrected anyway.

Dum20:
I spoke with Stanbic IBTC Asset management and they said your capital in this Fund is not guaranteed. That due to some circumstances you could lose part of your capital.

There is NO risk-free investment anywhere.
However, there are degrees of risk- we have Low risk, Medium Risk, and High Risk. The ease of capital loss is what informs the categorization. Stanbic IBTC is telling you the obvious so that you can be well-guided in your investment decision which is the professional norm.

All Bonds of any form are in the medium risk category, MMF in the Low risk and Stocks fall under the High risk. Investors' abilities or willingness to cope with each of the categories is what places them under the conservative ie low-risk tolerance or aggressive or high-risk tolerance investor.

OSCARNEEN:
The company is totally new to me. Are you confident about their prospect and stability for investment safety?

They have been around for five years. SEC-regulated and into Asset mgt, pension, insurance (They bought over international Energy Insurance), etc. They have offices in Lagos, Abuja, and Port Harcourt.
You can also check up on the SEC website.

Parties to the fund:
Fund manager: Norrenberger
Custodian bank: Stanbic
Trustees: DLM Trustees
Kindly chat me up if you decide to go along with us after registration or if you need further clarification
Note that account opening is free.

OSCARNEEN:
What's the minimum holding period for dollar fund. The return seem to be the best I know in the market. I am currently with FBN

90 days.

SimpleGuy001:
@emmasoft

Thanks for the info. By the way, what’s the minimum investable amount for a dollar mutual fund account (per unit price and minimum number of units required)..

For Dollar fund I'm with Norrenberger Asset management and the minimum investable amount is 550

OSCARNEEN:
Thanks boss for the clarification. It makes sense if it goes down to around the initial balance before the shares payment. In my case of the specialized USD fund for FBN Quest, it went much much lower than the previous balance. Infact I am at around 8% lost of my total investment value initially per the new unit price. Is that normal?

Yes if the price went lower than the price at markdown (when the dividend was deducted from the price).

For example, if the price was $100 the day the dividend was deducted and it went down to $95 thereafter definitely the value of your investment will go lower.

With time the price can get higher even going beyond $100 then the value of your investment increases again.

SimpleGuy001:
Bosses pls does it make sense to start investing with 100k?.

I opened a mutual funds account with the aim of increasing it overtime as I earn from my job.

Dunno but I’m thinking it’s a waste of time due to the small amount

In addition to all @freeman67 has said I want to say that your thinking of 100k being too small is what has made many people remain without a single investment today. They think 5,000, 20,000, or even 100,000 is too small to start with hence they never stated. You can never finish a race that never started.

Why did you think most of the fund managers reduced their initial deposit to 5,000? it's a message they are trying to pass across to everyone that nothing is too small when it comes to savings and investment. All that is needed when it comes to investment is not only the amount involved but rather it's consistency and compounding. you can never go wrong when there is consistency and compounding of interest especially in low-risk investments like MMF.

Please continue with your investment and top up as much as you can and when you can. Be deliberate and intentional about it. You will be amazed after some time what the little amount has turned into. Remember the value of 1 in a million!

AJOBI77:
Good morning all,

Please is re-investment option of dividends on investments still advisable at this time,

One one of my investment, I saw a subscription of over 200k on my app and it increases the amount.

Only for me to check two days later and found that the dividend paid has been removed and the amount reduced by that same amount.

I request for my statement which was sent but I still can't make any meaning of it. How can my money increased and decreased two days later.

I would appreciate if people can guide me with explanation.

The investment is FBN HALAL FUND.

Thank you all

@AJOBI77 please note that for mutual funds that don't accrue interest daily and are price controlled, the payment of dividend is treated like the usual stocks ie any amount of dividend declared is deducted from the current price of the fund on the closure date hence you see a reduction of price by same value of dividend paid. Unlike MMF where interest accrued daily and at the end of the quarter, the accrued interest is reinvested or paid to your bank account. If you look at the value of the investment before deduction it has not changed. If you add the dividend collected and the current value after deduction you get back the value before deduction.
What just happened is that part of the value gain was paid to you.

Going forward the value will continue to increase again as the price increases and the process will be repeated in the next dividend payment.

The above is just a general explanation for price-based mutual funds, the particular fund you are referring to may have some peculiarities that you will need to clarify from the fund manager. I hope this helps

Bukkydudu:
Still expecting mine since yesterday oooo

Your expectations will not be cut short. Don't worry you will get it.

ttmax09:
thanks.

You welcome.
To open a stock account with investment one, click the third link on my signature and complete the online registration form.
Requirements:
Passport photo
Id card
Utility bill not older than three months
Your signature.

Please note that investment one will never ask you for cash to open account, it's free.

ttmax09:
Good day house, both to the veterans and newbies alike, pls I I need suggestions on a good stock broker, what I mean by good stock broker, a broker that can give you all the needed services as at when due, I have cancelled Afrinvest and meristems, meristem seems to be the most useless broker of all time, not going to be using them for any single transaction going forward, thanks in anticipation.

Investment One Stockbrokers will give you all the services you need.

Tohmey:
Sir, What is the faith of naira now?
How can we handle this issue of naira turning into dust?

The issue of naira is beyond us here. It involves the larger economy, the handlers, and the whole country. Investors that can get dollars are also investing in the dollar fund at least to hedge against inflation and devaluation or buy good stocks that can give returns higher than the inflation rate, otherwise we just have to make do with the negative real returns for now. The only thing is for us to try and reduce the negative real returns by investing in funds with double-digit rates.

imback:
What’s the tax implications for mutual funds earnings? I have 1mil in stanbic

MMF earnings is tax free