₦airaland Forum

blink182: Are these rates annual or monthly

Yes, the rates are annualised pro rata.....but they are also discounted hence the higher yield!

muyoto: I read from a site that the minimum to invest is 1M and then subsequent multiples of 10k. Is that true? (i hope not)

Officially you can invest as little as N1000. But because of the paper work involved and for the fact that the fees u pay to them is very low, most banks and discount houses insist on a min of 100k to N1M.

If you are interested send me a mail to feelamong@gmail.com ..I will introduce you to a friend in a discount house.

koruji: Here you go (for the records)

Chai!!!!! Where is Boko Haram when you need them most?

This is my annoynace with Boko haram.....They should go and put their bleeping bombs at the right places and leave the long suffering masses alone!!

post your prices lets see how competitive they are!

@Omo Yankee... You can actually buy the Tbills from any Commercial bank, or any Discount House in Nigeria....

The fees are 0.125% of the amount invested. However you should be aware that the effective Yield on Tbills is higher that than the advertised discount rate.....as the yield is discounted upfront. So a 14% yield is effectively about 14.25%...

http://af.reuters.com/article/topNews/idAFJOE82E06H20120315?sp=true

ABUJA (Reuters) - Nigeria's government has in the last week held its first indirect peace talks with Islamist sect Boko Haram, meeting mediators to discuss a possible ceasefire, political and diplomatic sources told Reuters on Thursday.

Two people close to Boko Haram have been carrying messages back and forth between the sect's self-proclaimed leader Abubakar Shekau and government officials, the sources, who asked not to be named, said.

It was not clear whether any mediators met with President Goodluck Jonathan himself. A presidency spokesman said he could not immediately comment.

Boko Haram has said it wants to impose sharia, or Islamic, law across a country split equally between Christians and Muslims. The group has killed hundreds this year in bomb and gun attacks, mostly in the majority Muslim north of Africa's top oil producer.

"BH (Boko Haram) has mentioned a conditional ceasefire but it wants all its members released from prison. The government sees this as unacceptable but is willing to release foot soldiers," a traditional leader and civil rights activist involved in the talks told Reuters, asking not to be named.

"It is the first time a ceasefire has been mentioned, so it is a massive positive, but given the lack of trust a resolution is still a way off," he added.

Jonathan's national security adviser, General Owoye Andrew Azazi, told Reuters in January that Nigeria was considering making contact with moderate members of the shadowy Boko Haram via "back channels".

A source at the presidency confirmed that efforts are being made to reach out to the sect's negotiators, but that direct talks had not yet begun. A well-respected Islamic cleric has been contacted to reach out to them, he said.

Shekau has appeared in two video tapes posted on YouTube in January claiming leadership of the sect and making bellicose threats against security forces.

Hmmmmmm.... i smell a rat here!!! how come they knew that the special squad was almost closing down on them?? We have moles in the system and we have a lot of people that are protected by the system...

Just hope it would not be like one of those 'soap Operas' that has been happening in naija for some time now!

Anyway at least it would keep all those our redundant stock brokers busy a bit..

I know These Boko guys have surface to Air Anti Aircraft Missiles......

Now they have Hit a DIG of Police and other senior officers!!

Wetin this mumu govt of GEJ still dey wait for and talk abt Dialogue

This one no plenty naa>>> Go and check How much worth of beer that was sold in Germany then we can start to talk!

Bros.. will you pack the Tanker in my house?

send mail to feelamong@gmail .com...lets talk abt this better.

You can actually get your Treasury Bills from any commercial bank or Discount House......You can get rates as high as 15% depending on whether you are buying in the primary market or the seconddary market,..

US should just keep Shut!!!! How many Laundered funds brought to their country fron Naija have they returned back to us

Omo...leave these clowns alone !!! Even when they cannot pregnat their wives they go on strike!!! Omo...leave these clowns alone !!! Even when they cannot pregnat their wives they go on strike!!!

HNosegbe:
But wait o, who gave the minister the power to unilaterally rename an entire district? Who?

Yea, who gave him tha powers to do that

Am talking to my lawyers immediately and am taking this case to court ASAP,

We need to get an interim injuction restraining him from changing the name from Maitama district to any slowpoke's name immediately!

Naira reaches high against the dollar

Naira is headed for the highest in two weeks against the dollar after foreign investors bought the nation’s debt and on support from high oil prices. It advanced by 0.3 percent to 157.2 per dollar, the strongest on a closing basis since Feb. 23, at 12:20 p.m.
in Lagos, heading for a second weekly gain. A Central Bank of Nigeria sale of 150.1 billion naira ($955 million) of treasury bills on March 8 was oversubscribed, bids totaling 328.8 billion naira, with yields on 364-day notes at 15.57 percent.

High borrowing costs have fueled demand from foreign investors seeking better returns, central bank Governor Lamido Sanusi said Feb. 28. An auction last week for 35 billion naira of 2022 bonds sold at a yield of 15.893 percent was 2.35 times subscribed.

The central bank has sold $300 million to lenders at two foreign-exchange auctions this week. The regulator, based in the capital Abuja, offers dollars at auctions on Mondays and Wednesdays to maintain exchange rate stability.

http://www.businessdayonline.com/NG/index.php/markets/investor/34222-naira-reaches-high-against-the-dollar

IDIOTS!!!!! AWON OLODO RABATA!!!!!!

WHY DID HE NOT NAME IT RETARDEEN DISTRICT?

BUNCH OF ODE!!!!

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/34209-nigeria-auctions-n150bn-tbills-with-364-day-yield-rise

Nigeria sold 150.09 billion naira ($953.56 million) worth of treasury bills this week at a regular debt auction with yields on the 91-day and 182-day bills falling, while the 364-day yield inched higher, the central bank said on Friday.

The bank sold 42.97 billion of the 91-day treasury bill at a 14.18 percent marginal rate, down from 14.80 percent at the previous auction, the regulator said in a statement.

It sold 50 billion naira worth in the 182-day bills at 15.48 percent compared with 15.50 percent previously, and 57.12 billion naira worth of the 364-day instrument at a marginal rate of 15.57 percent versus 15.55 percent at the last auction.
The 364-day papers attracted the highest subscription, with investors bidding for a total of 160.58 billion naira. Traders said most off-shore investors prefer investing in the longer-dated bills.

Total demand stood at 328.78 billion naira compared with 476.86 billion naira at the last auction. Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity.

all4naija:
You should stop arguing blindly. Somebody even pointed out that Dangote and Oando companies were forced to do something similar to that in South Africa. Why should Nigeria be the only country to be coerced to abide by conditions set by other countries and the reverse is always the case back home? You guys should stop putting this country down in everything.

After the transition of Apartheid in 1994, it was decided by the government of the African National Congress that[b] direct intervention in the distribution of assets and opportunities was needed to resolve the economic disparities created by Apartheid policies which had favoured white business owners.[/b] BEE intended to transform the economy to be representative of the demographics, specifically race demographics of the country.

http://en.wikipedia.org/wiki/Black_Economic_Empowerment

This is why I insist that they should be forced to list in Naija, if they said they will not,  then they should go back home!!!

These MTN people should keep quiet, They are suppposed to do our bidding!!

They should either shape up to list on our stock exchange or prepare to go back to their country!!!

After all in their country they have a black empowerment scheme where foreign coys of a particular size are forced to provide some of their shares for the blacks to be held in trust by the Govt, Even OANDO and Gangote were all forced to do that,

"In this regard, cash transfer in the sum of N88 billion was credited to Fidelity Bank with A/C No 5030024748, N38 billion to UBA with A/C No 1015556733 and N10 billion to First Bank Plc Maitama branch with A/c No 606204000231”, Ishola told the panel.

God, This country, Whay are people just ready to steal Billions anytime they are given a govt apptment,

Now we are seeing the results of those committee here, committe there, panel here, panel there,

But what will happen after all these revelations

Your guess is just as good as mine!

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/34193-maina-pension-czar-lodged-n88bn-in-brothers-account

The Senate joint committee probing the mess in the nation’s pension system was shocked to hear yesterday that the man appointed by the Federal Government to clean the stinking scheme placed N88 billion pension fund into the private account of his younger brother, Danjuma Zubairu.

The money domiciled in Fidelity Bank fixed account number 5030024748 has a monthly interest of over N100 million, the committee was told.

Abdulrashid Maina, chairman of the Presidential Pension Recovery Task Team, who had appeared before the Senate joint committee on Establishment, public service and local government on Wednesday, reeling out what he claimed he saved the government by his work, may have sensed trouble yesterday, failing to appear to continue with his testimony at the hearing.

When the committee waited for Maina up till the 3pm deadline given him to appear before it, and did not see him, the committee chairman, Aloysius Etok, issued a warrant of arrest and ordered the acting Inspector- General of the Police Mohammed Abubakar to produce him today by 9 a.m.

The revelations at yesterday’s hearing by the chief accountant in the Police Pension office, Toyin Ishola, deflated all the submissions ofMaina before the committee which had given the impression of the task team doing a thorough job.

Maina has had a good record of bribing the Abuja press corps and planting flattering stories in the media and yesterday it was revealed to Business Day there had been surreptitious moves to bribe members of the committee, and two senators in confidence, confirmed to Business Day that large sums of money were offered to them but rejected.

Ishola told the committee that  the Task team was set up to function for three months but that “after the expiration of the three months, Maina refused to hand over the biometric data platform to the Director- General of police pension office, even after the completion of the exercise.

“However, it was observed that, within the period of the assignment, the chairman of the Task team had exceeded his mandate by engaging in frivolous and extravagant expenditures which were beyond his mandate.

“Among these expenditures were the bogus expenditure of the conduct of the Biometric exercise of the retirees in the Disapora, which he spent a whopping sum of N240 million to capture less than 20 retirees and for the local bio data, over N220 million was spent”.

Business Day learnt that Maina cooked up the trip as a way of compromising senior civil servants and he managed to get on that trip 100 topshots including a former Police IG who was serving at the time, the head of ICPC. The head of EFCC declined to fly with the team and returned the N7.5 million sent to her as estacode by Maina.

On the bank accounts of the team, Ishola told the committee “the task team within three months period unilaterally opened three accounts in different banks without recourse to extant financial rules and approval from the Accountant -General of the Federation and the Minister ofFinance.

“In this regard, cash transfer in the sum of N88 billion was credited to Fidelity Bank with A/C No 5030024748, N38 billion to UBA with A/C No 1015556733 and N10 billion to First Bank Plc Maitama branch with A/c No 606204000231”, Ishola told the panel.

He told the committee: “It was uncovered that the money in Fidelity Bank, Central Business District branch was domiciled in the account of the younger brother of the chairman Pension reform task team, named Danjuma Zubairu and the said amount was fixed since then with a monthly interest of over N100 million into the coffers of the perpetrators of the act. N3 billion was deposited in UBA plc up till date, no proper documentation has been effected”.

Ishola informed the joint committee that during the period in question “the task team compelled the police pension office to drop the previous signatories to the pension account and replace them with Magaji A.A., Kaigama and Maina”.

He said “these are just part and not all of the nefarious activities carried out by the task team within three months of its tenure in police pension office, of which he has expended over N3.6 billion within the short period without any entry of such in account books.

“The chairman, Pension Reform Task Team who always claims he is saving government money, has now embarked on frivolous spending without control or putting into consideration the reconciliation aspect of the office and also, disregarding the financial regulation guiding all government expenditure”, he added.

Ishola who was ordered by the chairman of the joint committee to be given police escort henceforth, also disclosed that Maina engaged officials of the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other related offences  Commission (ICPC) “as his buddies.

“Hence, some of them are on his payroll so as to use them for his game plan that is, intimidating, harassing and molesting people that will stand in his way of achieving his target in any of the offices given to him for bio data capturing”, he told the committee.

He said: “This was what led to the problems of Police Pension Office, otherwise, before his coming, Police Pension Office was the best in the country when it comes to payment of  pension, as can be attested to by so many retirees on our payroll who are still wondering what went wrong with the prompt pension payment they used to enjoy”.

Ishola told the committee that in the bid to cover his tracks in Police Pension Office “the chairman Task team made it impossible for the office to operate as a legal entity.

He destabilises the whole system by raising false alarms, like accusing the present Director of Police pension office Y.K. Adeyemi ofembezzling N119 million which was investigated by a reputable audit firm named KPMG and found same to be false, making government to waste funds he claims to be saving”.

Ishola’s testimony confirms BusinessDay stories highligting the fraud in the pension scheme and how individuals like Maina were feeding fat on retirees sweat.

The hearing is expected to be concluded today and former chairman of the EFCC Farida Waziri may appear to clear the air on some of the allegations linked to her while in office.

http://www.proshareng.com/news/16530

The Nigerian naira firmed against the U.S dollar on the interbank market on Wednesday, supported by large dollar sales by state-owned energy company NNPC and expectations of additional dollar inflows in the coming days, traders said.


The naira closed at 157.50 to the dollar on the interbank, firmer than the 157.80 to the dollar it closed at on Tuesday.


Traders said NNPC sold around $350 million to some lenders, which provided support for the local currency, while expectations of additional sales of $350 million by the energy firm before the end of the week boosted outlook for the naira at the interbank.


"The naira is set to strengthen further in the coming days if the NNPC and other oil companies sell more dollars to the market as being speculated in the market," one dealer said.


Traders said dollar inflows from oil companies and off-shore investors have consistently provide support for the naira despite strong demand built up at both the interbank and official window.


More offshore investors are investing in Africa's second biggest economy's local debt instruments because of attractive yields, helping to support dollar supply to meet domestic demand.


At the bi-weekly forex auction, the central bank sold $150 million at 156.01 to the dollar, the same volume and rate at the previous auction on Monday.

"Barely 24 hours after the second batch of 56South African deportees were sent home, theNigerian government said it has uncovered a prostitution ring ran by a high profile South African businessman with 67 prostitutes in his employment both in Abuja and Lagos.

Consequently, the Federal Government has concluded plans to deport the 67 prostitutes who are believed to be HIV positive back to Jacob Zuma. The move is part of government deliberate policy to double the figure of the 125 Nigerians deported by South Africa before the consideration of any diplomatic solution to the lingering feud with the South African government." I am loving the President Goodluck Jonathan ''bolekaja'' diplomacy!
You 'Tarka' me, I 'Daboh' you!!!!

Imagine a south african bank financing the project while our own bankers would be justling around in skimpy skirts looking for deposits and investing the money in Treasury Bills and state government bonds

Ros N Anfield Ltd is a wine and Champangne importer based in Lagos, and supplier of fine wines throughout Nigeria. As an independent wine merchant, we seek to provide a high level of service linked to the best possible price.

As a leading wine merchant, we try to offer the very best from the best wine making regions, , stocking many fine wines from across the globe, from California white wines to vintage Spanish red wines. Most of our wines come from long established family owned wineries, including Wente Morning Fog Chardonnay, Kendall Jacksons Vinters Reserve, El Coto Crianza and Marques De Murrieta.

We wish to bring to the market MARQUES DEL TURIA (Bobal Syrah) AND MONOPOLE CHAMPAGNE!!
We also arrange delivery for those of us outside lagos at a good cost.

Price is N3,000 per carton of six (Negotiable)

Any questions just contact us:
Email; info@rosnanfield.com
Telephone 08099155330

Ros N Anfield Ltd is a wine and Champangne importer based in Lagos, and supplier of fine wines throughout Nigeria. As an independent wine merchant, we seek to provide a high level of service linked to the best possible price.

As a leading wine merchant, we try to offer the very best from the best wine making regions, , stocking many fine wines from across the globe, from California white wines to vintage Spanish red wines. Most of our wines come from long established family owned wineries, including Wente Morning Fog Chardonnay, Kendall Jacksons Vinters Reserve, El Coto Crianza and Marques De Murrieta.

We wish to bring to the market MARQUES DEL TURIA (Bobal Syrah) Red and White Wine AND MONOPOLE CHAMPAGNE!!

We also arrange delivery for those of us outside lagos at a good cost.

Price is N3,000 per carton of six For the Wine(Negotiable)

N8,000 per carton for the Champange

Any questions just contact us:
Email; info@rosnanfield.com
Telephone 08099155330

lets talk on 08099155330