₦airaland Forum

Susantice:
Can I have fbnquest links and do they have physical offices

Yes FBNQuest have physical office in Lagos, Abuja and Port Harcourt.

I can send you any link. The last time I tried it I was banned but then getting them is easy. Just Google FBN Quest or go to play store and download FBNQUEST App. From there you can easily contact them by mail for anything.

MadamVanessa:



For Peter to report Paul to efcc after they might have reconciled, speaks volume of the type of person peter is. He's not doing all these in his conscious mind, Peter is under a very strong hypnotism power.

Ever since Peter took that woman that is far older than him from the other side as a wife, everything scattered amongst this once loving brothers.

Your Paul that took a wife from this side of the divide and not under any spell wetin him do with the wife? How stable is his life. He seems to be the less stable human being between the two.

Apart from their music, their major prowess was their dance and stage performance. If you really know them, you will know who really has that between them. Jude just scattered that group for his selfish interest thinking he could succeed with Paul as a solo artist and at the end, look at where they are.

SonofElElyonRet:
seems you and mercy are the insurance gurus... which do you think is cheaper between veritaskapital and aiico relative to eps and other crucial factors ?

Hmm OGG too dey ooo. Him don touch light all these insurance companies on NGX ooo.

Princkez:
that Transcorp hmmmm might pull a big surprise after reconstruction,ELLAHLAKES another PRESCO and OKOMU in making....thank you sir

We dey see PRESCO and OKOMU products for market. Where ELLAHLAKES dey sell?

Streetinvestor2:
What is now the purpose of Egm of ucap on 21st August if payment is 9th..I thought the idea of the egm is for shareholders to approve dividend payments . Are this companies changing the rules guiding listed businesses.

The EGM is about the Bonus not interim dividend.

The meeting is to consider:
1. Increasing in the Share Capital.
2. Amendment of the Memorandum of Association
3. Bonus Shares.

All the shareholders should already be aware except if you don't use email.

Chinedu81:
Just got information from Stanbic IBTC that primary bid was not successful, how true is it?

It may be that they bidded higher and could not get. They are the only ones that can tell you the truth. Except you see someone that bidded in another of their branch and it was successful.

Damolux01:
Current stop rate is still 22% though. Now, I have a question bosses. If an investment of #20m in April at 20%, with an upfront interested already paid, is now to be terminated at the current rate. Will it be terminated at the current yield rate or the one it was when invested?

It has dropped slightly in this week's auction. It's now 21.888....

FG domestic dollar bond series 1 to be actioned soon. Be on the lookout if you are interested.

icu4:
Hello Good Morning,

Do you get issued a certificate after investing in FGN Bond.

No, I have never been issued any certificate. They just notify me by mail and ask me to be expecting my returns when due. After a while, I will check my CSCS account and see that it's there.

Buchika:
Hello house, can someone guide me on how to move my shares from an inactive Cashcraft to another broking firm? They have closed down their office in my town. I don't know what to do. What are the steps to take? Their website, email and other ways of reaching them are all inactive.

Just open another with a functional broker and request for share transfer.

Nakedman:
Hello house, Good Evening, I have been looking for update on FGN Saving bonds for August I couldn't find any. Can anyone help me out?

No plan for auction has been announced to the public yet. Maybe it's because of all these protests happening for now or maybe they don't need the money yet.

Manutd19:
I plan to invest in treasury bills this week.

Please, which bank is the best to patronize? I bank with GTB, First Bank, Zenith and Access.

Thanks guys

Remove Zenith from there and add Stanbic IBTC instead. I still dey look access with one Kain eye too. I no know how they be now sha. So if it is the option you choose, first of all go and discuss with them to know what charge could come. The rests are good to go with.

JimMumin:
Goodmorning to everyone here

Please I want to know for someone who had no stock broking account (no CHN or CSCS accounts) but saw the GTBank share sales and subscribed, how can such a person be in possession or own it if they eventually get allocated? Or would they even get allocated?

My brother bought MTN shares like this around 2022 and up till now we don't really know how it went, how can he retrieve such? I think Stanbic IBTC Stockbrokers was the stock broker

I will appreciate your insights

At the end of the offer, after settlement is done. A share certificate would be sent to you via the address you gave them while subscribing. Just keep your ear on the ground to know when it's being issued. If you don't get your you can always contact their registrar.


For your brother's MTN, I think a temporary stock broker account was created for them by the issuing house or something. I can't remember what actually happened again. To know how far with that, he can contact Chapel Hill Denham for his details.

[quote author=Princkez post=131207658][/quote]Seems you prefer screenshot.

It is surer from the horses mouth except if they made a mistake.

dapix:
Are they also giving Bonus shares too?

Fake news.. No bonus.

Archiever22:
Good day all,

I want to send my opay account number to somebody but I mixed up those number that the money was transferred to wrong account.

Now, I have been calling the number for 3 days now and it has been switched off and whenever it rings, the person will cut the call

I was able to trace the person to FB and I saw that he has worked as a special assistant to govt.

I have sent him a DM via his FB and he is not responding.

Please what can I do to catch this person because the money transfered to his account is above 50.

In this case you are to first contact Opay, with your proof. The extra steps you took should have been if Opay did not act.

The blame is more on you than on him for the mistake but the most honourable thing for him to do would have been to pick your calls, hear you out and refund you If your case is genuine or get Opay involved if your case is shady. Being a special assistant will not make him a better person if he is not.

squad1:
Hello. TB guru in the house. I advised a friend to invest in TB. After so much persuasion, she invested N20,000,000 for 3 months @ 16.3%. When I did the calculation for her, I told her to expect interest of about N811k.

She just called me now that's she got 794k then they deducted like 79k for tax and 20k because it is a corporate account and other charges reducing it to like 690k. Please, how come? She did it with Zenith bank. Is it because she used a corporate acct?

I need an explanation.

It's been a while I did any reasonable TB. The last one I did was through my bank app in the secondary market. The charges came unilaterally with no breakdown and the investment amount and charges were not much so I didn't stress my self to request for the breakdown.


Regarding your friends situation, the 79k seems to be 10% tax (WHT) on the interest of the TB. It still seems many people are yet to be aware that the exemption of WHT earlier enjoyed by TB's and CP's subscribers have expired. However, it doesn't seem to be reflecting in all banks charges. It seems some banks are deducting WHT while others are not (I stand to be corrected on this). I don't know why they should be difference in that aspect. It should be general. I only got to know this when some CP I subscribed was about to mature last year and they sent me forms to fill for deduction.

Also, she invested with a corporate account. Corporate accounts are usually current account that charges fees called Commission on Turnover (COT) on any money leaving that account to another account. It's now N1 per each N1,000, It used to be more initially but reduced to that during Sanusis' Regime as CBN governor. Incase of another day, you can only avoid that if the owner(s) of the corporate account operates a savings account with same name in that same bank and the accounts are linked. Then, you can transfer such money to the savings before use without COT charge. So, the 20k charge it's not a cost on the TB but on the type of account used. Even if she was to transfer money to you, they'll charge COT plus the transfer charge.

Another thing worth knowing is that, investment tenures are usually calculated with 365 but some investment firms are calculating this year with 366 because it is a leap. I don't know if Zenith is among anyway.

The usual TB fees as I know before this period were: FBN charges; custody fees of 0.1 per transaction, static transaction of N100 and 5% commission on transaction and custody fees. While Stanbic IBTC only charges static transaction fee of N315 and safe keeping /custody fee tha varies moderately according to the investment amount. So you should consider this charges too while considering the WHT and COT. If not that the upfront could be needed for other use before maturity, the best way to not to feel these charges is to roll over interest with the investment. That way, the little interest that would come out of the roll will take care of the charge and give you some balance.

I don't like Zenith Bank for TB's. If she had consulted banks widely, should would have gotten a better rate with the current rates and probably better charges (I don't know what they charge sha) but they are not TB friendly.

Finally, big money draw big charges. The higher the amount the the higher the charges, as the required percentage is same for all amounts. However they could be difference in some charges according to banks. Just ask her to go and get the proof/certificate of investment from the bank before you will know the actual calculations.

Zwooks:
You are mad

Madder than the goat that produced idiots like?

Zwooks:
Wonderful. We now have two presidents. In what capacity is Wike meeting the security heads ?

Try and learn humbly by not making sarcastic comments before asking questions.


Abuja is like a state. It has the status of a state and Woke is the one in charge. Like all states Governors as their chief security officer, Wike is the chief security officer of Abuja. All the security services and agencies have their heads in charge of Abuja as as they do in all states.


The President is the chief security officer of the entire Nigerian not Abuja. Same for the Service Chiefs and Heads of other security agencies. Their responsibilities transcends Abuja. They are to cover the whole nation.

From the above, I believe you would understand that Wike having his own security meeting is for Abuja alone while the Presidents' security meeting is for the entire Nigeria.

olaolulazio:
Remind me of how the OBJ you quoted helped the youth as a president for 8 years

They will just say shit that they didn't do while in government and u all will see them as a Messiah cus you hate the current administration.

First of all, creation of jobs.

As a president, Obasanjo created jobs for the youths and Nigerians in general. He established the likes of EFCC, ICPC and absorbed the NSCDC as a government body that employed and keep employing Nigerians today. He liberalised the telecommunications sector that gave birth to the like of Glo, MTN, Econet ( now Airtel). Apart from making telecommunication easier, and the direct employment that came with it, the indirect employment was huge and the majority beneficiaries were the youth.

He canvassed for the forgiveness of Nigeria's debt and it was eventually granted. From there he built Nigeria foreign reserve to the size that no government has been able to up till. They rest came to squander and borrow more. That made the FX available and affordable to the youth and everyone that had genuine use for it.

Obasanjo's agricultural policies were top notch. He made food available for all. As small as the minimum wage was at that time workers could afford their basic necessities. When the youth go out for daily jobs, the little they get could cater for their meal that day and the next day. Bread, sardines and coke were not a thing of luxury.

Obasanjo's Regime did a lot of good things worth remembering.

malali:
When there is monopoly in government......We called it Military rule !!

When there is Monopoly in Business........We should call it out as well !!

90% Ownership of the Largest refinery in Africa to a single man is worse than military rule. Niger Delta should own at least 30% of Dangote refinery.

Why should Niger Delta own even quarter of a share in that refinery when they neither contributed a quarter kobo or efforts to it? People Like reaping where they did not sow. All the militants leaders that have been vandalising pipelines and doing bunkery since God knows when can not come together and build a Refinery. The state governments in the Niger Delta with all their 13% allocation of this world can not come together and build one. Marching ground money could not do it too. All they do is disrupt.

The refinery is not located in the Niger Delta and crude is not going to be gotten from their for free.

What then is the rationale for your assertion?

Foodempire:
Do we have anyone here that bought MTN CP series 9, the maturity date is on the 31st July 2024. I was contacted by email to provide my TIN and tax payer ID's for the WT to be deducted , this I never expected or informed earlier.

I wanted to ignore the request because I don't have the TIN and Tax ID but I know I won't be getting my money back on the maturity day if I do.

What is the likely % for the WT? How can I generate the info: TIN tax ID's? Thanks

That is my problem with all these issuing houses of CP's. Most times they don't state these things on the contract/agreement/prove of investment. Why will you just put applicable taxes are shall apply instead of clearly stating that the subscriber is to pay a withholding tax of a particular amount. That seems to be manipulative in a way. It shows they are hiding information.

The WHT is 10% of your interest. Just divide what ever you see as interest on your allocation notice by 10. That's the amount that will be removed when you will get back your capital if you did not reinvest with interest. Also, note that it seems to be majorly for formalities as they will not give you any proof that the tax was actually paid in your name or on your behalf to your tax authority but it will surely be deducted.


They did same thing to me in when I invested in the series 7. I already have my TIN even before then. So, I just submitted it.

For you now, just checked the JTB site posted above by karltom. You should be able to get the TIN from there. It's TIN or Tax ID.

That said, whether you present the TIN or not, your money will paid back to less 10% of the interest so no shiver saying you no go get interest.

debeey87:
Same woman that was asked by the committee to explain why she fuels her vehicles with 1.5m per month. Let her continue to play

She has given her explanation to the press. The session seems like someone was out to get a pound of flesh. Even in court witnesses do find a way explain reasons for there actions.

Demanding that the minister must answer just yes or no to that question without explanation is not fair to her if you listen to her own side. Also, I don't think the fueling is monthly, I think it was a one off think because in her statement to the press she said and her some staff in her ministry went on an official assignment to from Abuja to Anambra in 6 vehicles. She gave the breakdown of the vehicles there.

If the above is true, considering the current pump price of fuel, the distance from Abuja to Anambra to and from, and the number of vehicles involved, is N1.5 not fair.

I think the NASS Members should have given her the opportunity to explain her own side before they question on the necessity of the journey and why they should go with that number of vehicles.

megawealth01:
For those that would have doubts... Check am here... I hide my privacy sha

The date of transaction and JAIZ BANK is showing very well

No, I am not doubting you. I was just surprised that some things done at the AGM are shams. What then is the essence of voting to ratify the payment of dividends declared at the AGM if they can start paying before the AGM except if there was no AGM or the voting to ratify the payment of dividends was not part of the AGM Agenda, that is an anomaly in itself.

Yesterday, after the banks payment alert , I still got another notification from APR and it was still stated that it's payable on 16/7/24.

megawealth01:
I got mine since yesterday

Wow.. Here was I thinking that dividend are only paid out after it is voted at the AGM except if there was no AGM. The AGM took place 11:am this morning.

Like him, I got mine this afternoon sha.

Feygbe:
Hello all. I'm seeking recommendations on the best user friendly digital platform for viewing and purchasing shares on public offers. Thank you.

I you just described Morgan Capital itrade webportal. Just Google either Morgan Capital Securities Limited or itrade. It should take you there.

Emzedz:
U mean bonds give higher returns than tbills..

That's not what I mean there. What I meant is that the assertion in the post I replied to that said you will get N7,020,000 if you invest N2,000,000 in 3 years bond at 17% is wrong.

Now to whether bond gives higher returns than TB or not. I will say the answer to that is dependent on many variables.

TBs are short term instruments of maximum of 365 days/a year while bonds have longer tenure (There is an FG Bond currently running that will mature in 2053). Once bond is locked in, you can keep collecting your coupon till it matures if you so wish at the rate it was subscribed. However, TB rate will keep fluctuating through out that period. You will not get a static rate for TB as it will be with bonds.

It just depends on a lot of things. Like are you aiming to invest for a short or long term? what rates is available for both? are you sure the same rate will be available for TB in your next subscription/ will TB rates not be higher than bond rate next year, do you have urgent need for the interest upfront/ do you prefer a structured kind of coupon/interest?

That's why I can't give a straight answer to it. You will need to consider these in determining which gives better returns.

Risingcash94:
GOOD EVENING. PLS CAN SOMEONE HELP ME WITH THE FORMULA FOR CALCULATING TREASURY BILLS AGAIN. I THOUGHT I UNDERSTOOD IT BUT THE AMOUNT GTB IS TELLING ME TO EXPECT AT MATURITY DOESN'T ADD UP. I JUST WANT TO BE SURE BEFORE I GO MAKE UNNECESSARY CONFRONTATION BIKO🙏
I ASKED FOR REINVESTMENT BUT AND THEY DIDN'T DROP A DIME. WHEN I CONTACTED MY ACCOUNT OFFICER THE AMOUNT SHE'S TELLING ME TO EXPECT IS NOT ADDING UP ESPECIALLY SINCE SHE SAYS I'M TAKING EVERYTHING AT MATURITY.

TENOR 359 days..
RATE. 19.50
Thanks

You have added rate and tenure. What is not there is the principal and as such you may not get your desired response.

However, let me just try it with my crude way of calculation I use. I don't use excel and I also don't know any complex maths for it but if I want to invest say about 1m with that tenure and rates, I will be expecting about N1,228,579.66. This is how I do mine.

Below is my calculation.

1,000,000 ÷ 100 x 19.50 ÷ 365 x 359 = 191,794.521

The bolded above is the upfront interest you are supposed to get originally.

191,794.521 ÷ 100 x 19.50 ÷ 365 x 359 =
36,785.1382

The bolded above is the interest to be realised from the reinvested interest.

Add the principal and 2 of the bolded above together. You will arrive at my response above.

What's this phone like?


I have not seen any review of it from popular sites like GSMArena and co. Is it that you have not sold any? Why are your customers not giving reviews? Have you tried using any yourself or have someone close to you use it? What's their view of the phone.

khadri:
Thank you. so if we buy the right shares will they at any point merge the two together at any point? sorry if my question sound lame.
Thank you once again.

I am not clear about your usage of the 'word merge' here. I will take it as add. Yes, it will be added to your share balance after the 'whole process' is completed.

dacool1:
With the rate of inflation in Nigeria is it still advisable to keep investing in T. BILLS.

Politics asides, I will appreciate a fair view of what's really happening with the NAIRA. Is it about to fail?

If you have an alternative investment that it's rate will beat the inflation and your are sure of getting your capital at the end. It's better but if you don't, isn't it better to have your money in a safe investment yielding something to cover up part of the inflation than leaving it where it will yield less/ nothing or where you might not even get back your capital?

Sheistoopretty:
Congratulations

Watch how these wretched poverty-ravaged use_less goodfornothing men of Nairaland come after her and say things like "Toto business is selling" " all thanks to clitocurrency""

They think every girl is like their sisters at home

97% of Nairaland men can't even afford 2 square meals a day right now not to even talk of 3


Nigerian men are Use_less..... All of them

Including the one whose sperm formed you and any other male species that is in your lineage. Whether he accepted you or not.