₦airaland Forum

I'd advice you use the statement from the web and not the one from the app. That of the webpage is more detailed

freeman67:
Good afternoon House, if you are using Stanbic IBTC Asset Management be sure to regularly keep your records and Statements of account, please. I log in to my app almost every day and I see what happens there always. I checked daily throughout the holiday period because I wanted to add to my subscription but I did not generate and keep the statements.

I discovered my that the interest on my MMF account was debited in on 31 December 2023 but not credited to my account or reinvested. I sent them a mail in that regard but they did not reply so I had to call them.

They picked my call and couldn't tell me anything tangible than it was they credited me twice and this had to debit me. When I informed her that same happened in my other MMF account, she said it happened to all their MMF account. I instead mine was not correct from my observation and she asked for the proof/evidence that I don't have.


Also, last week made a deposit that was to be credited to my MMF account last week, the money was credited to my GIF account instead. That was their mistake not mine. Instead of them to just say sorry and rectify the problem, the kept lying and insisting that I made the payment to GIF collection account that was they credited it there. However, the transaction receipt is with me. On the receipt, my MMF account number is clearly stated in the Narration space and I rightly sent the money to MMF collection account. Mistakes are normal but why would you lie and insist on something you are not sure about instead of just rectifying the mistake.

I used to enjoy their services but now, I don't understand what is happening with them now again. This year, I will be downloading my statement at least monthly to avoid all these stories.

DonationWorld:
Same problem I have with them, plus their staff and IT service is grossly incompetent, to withdraw your money will become a problem and the customer service will not pick calls, they will allow your credit run out

I am using SFS Funds but their rate is too low (11%)

Left Gtco last year and I haven't looked back. Issues plenty on top my money.
Stanbic n sfs is ok for me for now
Stanb

emmasoft:
I have not followed them since Investment One sold their mutual fund business to them. I think it will be operated just like other MMFs.
I currently do for Stanbic and SFS.

Depending on the rate, which is between 9 to about 12% in the industry you will have about 90k plus some fractions all things being equal.

Gtco claims that their mmf is at 13.51% as at Jan 2nd.
My issue with them was no app to monitor investments

DonationWorld:
Will SFS Funds pay Quaterly Dividends this January? I am asking because they are not showing any signs of remitting money

They will before the end of the week..abi? @emmasoft

Saheed69:
Please if you have investment with SFS please always endeavour to calculate your ROI and make sure what's on your dashboard is the same thing with your calculations.

Did you notice anything you'd like to share?

EduC:
But fixed income fund doesn't compound but MMF does, right?

It does.
Quarterly

emmasoft:
Revalution things.

Better late than never
Little drops!

emmasoft:
You Sabi the game well.

Bros, SFS rates have finally jumped to 11%.
What a way to end the year

emmasoft:
Don't worry once they do their revalution of the underlying assets it will reflect. Moreeso SFS is a fixed income fund which includes bonds in their assets

revaluation wey go still enter 2024 abi? ya doing weh
Me I don pause them dey flex for stanbic mmf

Godspeed0:
can you explain better ma i want to invest 1 million for 1 month duration is it possible

yes it is possible. Just fund your account with the 1M and watch ur interest grow every month

cc emmasoft

Godspeed0:
am new here is mmf a monthly investment? because that is what am looking for

You can decide to fund your mmf account monthly, daily, annually or however you choose

shizzy7:
Thanks, what investment house do you recommend so I can register with them. stanbic does not do this .

I know there are lots, but I only have experience with investment one and meristem.
I personally use meristem but for investment one, u can talk to emmasoft

shizzy7:
Hello what's the process of investing in a commercial paper? I Already opened a stanbic investment account but I'm not getting info on cp just their mmf and interest is 11%.
OR
Which is the best bank or investment house for treasury bills and at what rate will it be?

CPs are not an everyday investment like mmf. When it's available, the investment houses will advertise so U can subscribe and the duration for subscription is also short. Longest I've seen is 1 week.

davit:
Is this a Commercial Paper?

Yes it is.

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?

I do CPs with Meristem and they clearly state all deductions in the proof of investment letter.

Gavrelino123:
Greetings All....

Does anyone have any idea when the LAST and NEXT treasury bills will be held for the year 2023...?

Someone here mentioned 22nd November

spbabt:
Hello all... Please from experience, between First bank and GT bank...who offer better Tbill rates?

Rates change from time to time, so I don't think there is a 1 size fits all determinant to who gives better rates.
Best bet is to go make your enquiry from the banks you have listed, whatever feedback you get from them will have you make a better decision on who to go with.

debbydee:
Good morning

Please I was at FBN on Tuesday to invest in TB secondary market the fund has been with drawn from my account but up till now I have not been credited the interest.

Is there any cause for alarm. Thank you.

Did you notify them that you wanted your interest upfront?

freeman67:
No issues the money has been taken into custody. If successful next week, your interest will be paid back to the account and your principal will be refunded at maturity. However, if unsuccessful, the whole amount will be refunded to your account afterwards. So nothing to worry about.

I noticed she mentioned TB secondary market. Isn't that done in 24hrs, as against primary market where one waits till the bank confirms their bid was successful

Fidson healthcare has commercial papers available, closing on monday.

Nakedman:
And First Bank was offering me 9% for 350days Treasury Bill on Monday. Thank God i Walked out on them.

Lol
First bank offered 9% while gtb and zenith offered 10%.

debbydee:
Good evening

Please when is the next auction date for TBills.

Also is there any bank that is recommended.

Thanks

i think there was an auction last week

Aguwanyi:
I’m Ibo but I don’t understand..pls whats d meaning

Person wey de 'chop' person mama