₦airaland Forum

VeeInsider:
I just had a funny and wonderful experience with Stanbic MMF.

I placed a redemption request on 2nd October @ 1pm. I assumed the account I set up for redemption is GTB and I've been expecting the alert since 3rd October on my GTB account, because I placed the withdrawal late and I don't expect them to handle the request on the same day.

Today being 7th I was already calling their Customer Service while going through my email to confirm again before they answer the call because this was strange. They always handle requests as early as possible.

I kept scrolling until I saw an alert from Stanbic on that same 2nd of October by 4pm. The transfer was done to my Stanbic savings account.

I was surprised because this didn't take them up to 24 hours to send the funds to me. It took them only 3 hours.

I had to quickly end the call before they answer. Lol

Thank God for Stanbic MMF. Good job to Stanbic MMF team.

Crediting your account same day is one of their strongest points. Once all your security details are well set up and correct you will not have issues with them on that.

House , please what is the difference between NASD, FMDQ and NGX?

Rhyah:
It didn't rollover as I saw the accrued interest seated in my cash account and a new accrued interest started again from zero. Principal is only showing the initial funds with no added interest.

What that means is that it's either you did not instruct them to roll over your interests from the beginning or they is an oversight on their part. So, what you have to do now is mail them a fresh instruction to do it. Then send/deposit the one in your account to them Mutual Fund account. That's all

First of all, even though administrative procedures is supposed to be the same for all the organisations dealings, humans sometimes exercises some discretion too. The Administration that handled Fayose's case and the humans then are the same.

The adminstration then might have exercises some discretion that this adminstration is not willing to wave. A

Another thing to look at is that though Wike was a seating Governor, he was not never the governor of Ekiti state and predecessor of Fayose. Thus, his being may not have any effect on Fayose rather just a friend showing support. However, In the case of Yahaya Bello, Ododo is Kogi State governor and the direct predecessor of Yahaha and also, was part of Yahaya's administration being alleged to have mismanaged funds. If not for Immunity, he might be part of those to be questioned. So being his there can compromise the process.

Pete002:
Please can I ask you a question, about the UCAP 3-1 share price reconstruction that happened, has the share unit equivalent been added to your trading account yet?
what I'm asking, is before the reconstruction, if you have 1 unit of share at #33, after the reconstruction and removal of the bonus, the price came to #10 or #9, so that means your current number of unit share is supposed to be 3 now, I'm asking if anyone has received the additional 2 in there trading account or I'm missing something, Thanks

It has not been added for anybody. We're all still expecting it. It will happen in due course.

ELLAHLAKES MH seem to have finished selling to the villagers. Now they are looking for who to buy but....


Bus don spoil for road conduct lock door with passengers inside come run away.

SirLaw12:
Please someone should guide me on how to liquidate my treasury bill investment.

Just contact the same channel you bought it from and tell them you want to sell it.

Read your proof/certificate of investment very well ooo. You may lose money as penalty for default.

Also, consider the fact that you have collected upfront and they will minus it except if you didn't collect it.

Susantice:
How come people I referred on stanbic mmf, are not showing on my referrals dashboard. What is happening, I have sent email and make calls, yet they are unable to rectify the problem. Does it mean the referrals program in stanbic mmf is a scam?

I have told people here that the referral programme is a sham because the staff registering/documenting them would just add them to his or her own and get the benefits but you guys won't listen.

Do referrals only if you feel they have done well for and you can recommend them for others not because you will get any benefits. Except you are a staff with them or related to them in a way, they'll never reward you for referrals.

IYGEAL:
June 12 FGNSB coupon finally paid.

I hope they bring to an end this late payment issue.

Yes but they are still some not yet paid..

I know of 3YR FGSB OFFER FOR SEPTEMBER 2021 which matured on the 15/09/2024. The last coupon was supposed to be paid on that day along with the principal but it wasn't. In fact only the principal was paid after like 3 days of maturity.


I heard last month payments were delayed too. So, something is definitely not right.

GanagiBitrus:
The Arsenal I watched against Atalanta does not have what it takes to trouble City in this match.

All the best to them.

So how is the Man city you watched against Inter at home? Or is it only Arsenal matches you watch?

efismikoko:
Oh boss so you can confirm that they paid the principal amount to those that matured then this means there’s hope 😅

Where is the hope? Principals are paid with the final interests. The final coupon was not paid and even other coupons that did not mature but coupon payments are due have also not been paid.

FGSB is supposed to be a kind of fixed income investment with over 90% guarantee so long as Nigeria still exists.

So people invest and plan with it. Its some people's monthly allowance where they feed. Some people plan to pay rent with it. Others plan children school fees and upkeep with it. If they want an uncertain/high risk situation, the stock market is there. At least with that you will take whatever you see.

You said you want to encourage people to save. You want them to trust you and you are pulling this kind of stunt? Wonderful!!!

The situation speaks very loud about something seriously wrong but want to be kept under the radar. All does not seem to be well.

ernie4life:
This sends the wrong signal

Very wrong signal. Some coupon are due more than a week now yet no payment. The only response to my personal message from is that the CBN is sorting out the data. Very lame excuse. All payments that are due since last week to this week have not been paid. For the one that matured, they only paid the principal bar the interest.

I have already decided that how ever juicy rates are I will start soft peddling from government investment in this dispensation because there seem to be no limit to how low they can go and they can make just any promises to get what they want but won't stick to it. No regards to how things should be done, at all.

Nothing ooo. I had even mailed them yesterday .They said nothing tangible than that it is a mix up from from the CBN and that they are working to resolve it.

dalass:
To avoid stories that touch, no one should use all the money they have for investments.

Your uncle should use like 10 to 20 percent of that 250M to do it.

He shouldn't toy with his life savings oh.

Greed no good. Between 25M to 50M is okay.

Many have lost all from billions to poverty due to greed and putting everything they have into business investment

What would you have wanted the uncle to do?


No doubt it's good to diversify as it engenders risks management in a way. At least some of amount invested in perceived risky areas like stock markets and equity fund may bring more returns and probably other amount invest in fixed income and MMF could be shock absorber too.

But going fully for MMF should tell you that he a risk aversed person whose main objective is the return of his investment rather than the returns on his investment. Which is absolutely fine and the least risky thing to. So there is nothing to be afraid of there.

Make uncle no go hustle for America finish then one idiot go come up in the name of investment come swindle him life savings. E go bad. So MMF is very ok. Maybe he can be to use his quarterly interest on MMF to start try out other viable investments when it's due.

noony926:
Where Can I Find Reliable Investors or Investment Firms to Finance Agro Commodity Supply Contracts?

I'm seeking investors or investment firms with a focus on agricultural finance to support my agro commodity supply contracts. Any leads or connections would be greatly appreciated.

I think you should contact your bank with a proposal in that regard. If it is viable/feasible they will want to invest. A merchant bank can also come handy here. In all be prepared to demonstrate how the money will come back if given.

BullBearMkt:
Once upon a time, a wealthy and wise father, gave his two sons, Olu and Ade, equal amounts of money to invest in the Nigeria stock market. Ade, "loves to punch numbers" to find stocks to invest in and regarded other stocks outside this as monkey hunting and gambling. Olu on the other hand, enjoy picking stocks that have large money flowing in & filter social media for news.

Olu noticed stocks that met his criteria and bought them thereby turning his given money by 500%. Ade, because of the economic situation of Nigeria, kept his money because all the stocks rising are regarded MH and gambling.

Months later, their father called them together. He praised Olu for his diligence, foresight, and courage, rewarding him with additional capital to invest. "You've multiplied what was given to you," the father said proudly, "and you shall be entrusted with even greater responsibility."

Turning to Ade, the father expressed disappointment. "You played it too safe, ignoring opportunities in fear and regarding Olu as gambler. You will lose part of your investment allowance and I will give them to Olu.

The characters and events in this story are purely fictional.

You were going to write Agba somewhere and twisted it with Ade. Yet the characters and events are fictional... Continue...

youngestland:
Please any luck with this payment i also did fgnsb june 2027 and payment was to be thursday last week i am beginning to get worried o

how do one sell FGNSB make i continue with treasury bill jeje

No payment yet. I don't know what is wrong with them. They just want to use their own hand to chase away prospective/intending investors.

I think you can sell it through your broker if you have one or maybe contact the bank/agent through you subscribed.

Mind you, both TB and FGNSB have the same handler. So when misbehaviour can come from any side when they feel like.

Camoready:
UBA interim. Any ideas on the date.

Interim dividend wey still dey in the planning stage. Have they even announced how much they will pay?

IYGEAL:
The one for 12th didn't get paid too

With no public holidays within those dates, the stakeholders need to do better. The palpable nonchalance is nauseating.

That's one issue with government stuff in Nigeria. The managers of this stuff need to do better lest they send wrong messages to the investors/subscribers.

efismikoko:
Thanks for the reply. This is the one I did and I have always been getting payment on the 13th

Ok Sorry for the assumption. I was thinking it's the one for June 2024. That said, you have been lucky with it. Even though that's how it should be, in most cases it's not always that way especially because it is government run. Most times in this dispensation the payments are done a day or 2 after and where it involves weekends and public holidays it could be more. So, just exercise some patience it will come.

efismikoko:
Please anyone expecting payment yesterday from fgn saving bond
I didn’t get my payment yesterday pls am I the only one or general 🙏

No you are not alone. That payment is actually supposed to be on 15 which is a Sunday and this was to come on Monday now instead but another problem again is that the Monday is a public holiday. So you should start expecting it from Tuesday.

ernie4life:
This is usually net of withholding tax but please confirm from your financial adviser

Thanks bro. Yes, the series 7 I did was net of withholding tax.

Okay, here is a new one.

vacanci:
I have logged into my cscs and balance remains the same. Not there

That Bonus is not much ooo...it's about 3 shares for every 100 share you own or so. Thus, for it to be noticeable, you have to either be a holder of very significant amount of shares or you are checking the small that you have daily.

So you have to check well before raising an alarm. If have checked well and still do not find it, then contact your stock broker and their registrar.

GracefulLau:
Me too. I'm yet to be credited

It's already in your CSCS account. Only that your broker is yet to update it. Just contact your broker for the update. For some of us wey dey use Morgan sha...Na to contact them ooo if not they no go add am. I use to have a little Betaglass that I sold off. After about 8 months to one year, I discovered through my CSCS the bonus I got was not added to my account with so I had contact them to add it.

RayRay06677:
The last one is lucrative. Thanks and let's hope for something new for the incoming week.

Yes ooo. It will be better that way. At least it has kept me off TB for a while. Just about two little ones I did of recent.

No update from any of the firm I subscribed to yet. It seems this reduction in TB rates recently is confusing firm that intend to seek funds.

RayRay06677:
Please kindly share commercial paper investments here, Thanks

Unfortunately, all these 3 that were in my sent to my mails from previous weeks expired last week. Then I don't have any fund for it. Now like you I will be looking for anyone between next and upper week too.

Maybe @ernie4life go help if anyone available presently if he gets the chance to come around. Let's wait and see.

Ikmontana1:
i have to say this

i had an issue regarding terminating my t bills investment, i posted it here so u guys can inform and help,but no i was ridiculed like i dont know what am doing.

thats not cool, nobody have all knowledge, even d first bank official dat attended to me had to call another branch to ask for information cos he too was surprised wen he saw i was to b charged 236k, even he learned today about been charged on d (prevailing discounted rate) wen a t bills investment is about to be terminated.

i just hope we do better by helping ourselves when we ask for information on what we don't know, thanks

Sorry I didn't see it earlier. I was busy away from here.

We should try and update ourselves, seek any available new info before investing. I was thinking you will update the house with your finding from the ordeal today but you didn't. You should do so. That it will add to the available info here.


I have always said it here that whenever we invest in TB, we should endeavour to collect the proof/certificate of investment and If it is through mobile app we read the instructions/terms carefully and if possible screenshot or download them where necessary because therein lies the contract binding us and the issuer.


On premature termination you could loose money in many ways. I don't know how your came about.

First, is that it normally attracts fees which is usually
stated on the proof of investment. Especially this one that's not been long you did it.

Secondly, terminating it will either mean the bank buying or selling to another interest investor. Most times it's going to be priced in their favour. Meaning the rate you got may not be the rate it will be resold. When it's resold at a higher rate than you bought you will loose money especially because it was not long you bought before terminating.

Thirdly, another determinant is the prevailing market rates of TB.

Also, the transaction fee seems to be higher when they broker deal in the secondary market than when you just invest in secondary.


However, whatever the case would have been, it should not warrant the loss of over 200k. That's absurd.

Except the termination is due to unforeseen circumstances, next time it's better with call, term/fixed deposits or even MMF. With them, termination only affects your earned interest. It doesn't affect your principal/capital but TB can and will affect it depending how it is later sold.

sanerugwei:
What happens on expiration or end of tenure? Won't the money be returned to the original bank account? What happens if the bank no longer exist?

Same thing that happens if you put a wrong or incomplete account number. It will not go untill you contact CSCS and rectify it.

Pesuzok:
If you don't like Oando positive comments, you can jump and pass. Investment decisions are not only based on past events aka FA but also on current trends that can lead to a turn around of a business.

When DS announced merger, the same people casting Oando were praising the merger without any FA to back it, but because you missed Oando when it was at 6 naira when the news broke out Sept last year.

I bought at 6 naira and sold at 12. Only to jump back again at average of 18 naira. I am not selling till 100 naira.

Your second paragraph is not true. The same man shouting Oando don cast now was the same man that first raised alarm here about something not being right with the rice business which was supposed to form the third part to Dangote food. Before those for and against started deliberately same way Oando faithfuls and antagonists are doing now.

stluke:
good morning brother,
Please what is the percentage for Stanbic secondary bill

It's been long I have asked them for it ooo. There is nowhere one can just check to confirm except by contacting them or visiting them to ask for it.

Grupo:
Good evening guys,

Please is secondary market interest not paid upfront like primary market?

I sent mail to stanbic customer care to buy 182 days treasury bills.

I got a call this morning from them that their bid failed and asked if I would like to buy secondary market. I said okay.

This evening, I got two debit alerts, all from my available balance. One was for sage keeping and another for transaction fee.

But up to now, they've not credited my interest. Is that how it works for secondary market?

So long as you didn't request for reinvestment of interest, you will be credited. Just be patient but if you can't wait, just call them and you will get you response.