₦airaland Forum

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.

khadri:
This might not be the right place, please bear with me.

Can anyone please explain different between the shares we bought on NSE and the right issue share some banks are advertising now. I have an idea of the stock shares but not the other one.

Thank you.

No lele... The shares we buy on the NSE is the already existing shares of the company that the shareholders are selling between themselves while the right issues are new share created by the companies to sell to already their already existing shareholders.

davit:
Good day great Investors. Please is this explanation about bond in the attached pic the way bond works? As compared to TB

That is false.

If you invest N2,000,000 in a 3 year bond at 17%, in the first year you will get N340,000 ( That's N170,000 two time in the year).

Second year, you will get N340,000 ( That's N170,000 two time in the year).

In the 3rd year you will get N2,340,000 (That's N170,000 in the first 6 months and N2,170,000 which is the addition of your last coupon/interest and your principal).

The final amount you will get for that investment is N3,020,000.

Except if you were investing your interest elsewhere which could give you additional interest. If you calculate your returns solely as it comes, the above is your the only interest in it.

abiolag:
Pls do you know the procedure to liquidate my treasury bills with zenith bank before maturity? I need d money badly and it was in April I subscribed.
Can I get it and what's d procedure

No big deal na. Just go there and tell them you want to liquidate.


As you do, bear In mind that you have already collected the interest upfront except if you invested with the interest. There is also the likelyhood that it would be offered for sale @ lower rate than you got it to attract new buyers or the bank that is collecting it back.

Also, bear in mind that you might incurr a penal charge for liquidating before maturity.

heavenisreal18:
This is the rate I was offered for secondary, 142 days 15.50percent
177days 16.50percent, 247 days 17percent, 359days 19.50per.
Which of these days do you consider to be good to go for

Thanks for your response

Right from time doing TB with them has always been difficult. It's only a selected few, maybe that have friends or very good customer relationships with them and maybe people in some less busy branches that gets to invest through them.

Contact more TB friendly banks like FBN, Stanbic and maybe even GT.

Risingcash94:
GOOD MORNING MY BOSSES. PLS DOES ANYONE HAVE AN IDEA ABOUT THIS QUESTION BELOW ? THANKS 🙏


[sup][/sup]

I don't know about SUKUK, TB or Bond with them because the only FGN invest I have with them is yet to mature. However, all other investments I have done with them before like CP and their Alternative Investments which are normally paid directly to your Bank accounts by other issuers or agent were paid into the wallet and I had to request for it to be transferred to my account.

If you don't get any direct answer, just mail them or call their CS to confirm.

heavenisreal18:
This is the rate I was offered for secondary, 142 days 15.50percent
177days 16.50percent, 247 days 17percent, 359days 19.50per.
Which of these days do you consider to be good to go for

Thanks for your response

It depends on your how long you want to invest it but going by the stop rates of the last PMA, the 359 days there is the most attractive. If I am the one, I'm ll chose that.

heavenisreal18:
Pls I got their response today that primary auction failed again that is only secondary that is available , what is the difference , challenges between primary auction and secondary auction
I need your response urgently.

Thank you

Sorry I didn't get to see your message when it came.

The difference is usually not very much of their rate is considerate.

1. The primary market is usually issued by the CBN through their different agents which are bank and co. While the secondary market is a kind of over the counter deal between those that bought from the issuer (CBN) and want to sell to an intending buyer. This too is facilited mostly by same agents which are bank and co.

2. The tenures of the Primary market are clearly stipulated (91,182 and 365 days.). Will be same irrespective of the agents you choose to buy through while In the secondary market, tenures are based on what they have available to offer.

3. The secondary market rates are most times a bit lower than the prevailing primary market rates. However, you could sometimes see equivalent or slightly above rates.

Overall, there is usually not too much difference in the end if you consider the fact that you may still leave your funds in the bank for two more weeks if you decide to wait for the next Primary Market Auction.

emmanuelewumi:
My present portfolio PZ, Oando, Unity Bank, Academy Press, Union Home REIT, RT Briscoe.


Add yours

My Oga, these ones no get resemblance with the like UCAP, SFSREIT, PRESCO, TOTAL, WAPCO, UBA and co na.

Nero4306:
Good afternoon house …. Still waiting for sukuk4 rental payment 🤔🤔🤔🤔 any update ??

They've started paying in towards this evening. Maybe it's your bank.

sleekybaba:
Can i use my Mutual Funds account to purchase stock shares? I want to buy Fidelity Bank Shares. Or i have to open a new account that is different from Mutual funds with StanbicIBTC again?

No you can't use Mutual Funds Account to purchase stock. You have to open a stock booking account separately. You can either contact the Stanbic IBTC Stock Brokers or ask their Asset Management to link you up with their brokers or find another stock broking firm.

Omonigeriarere:
Their policy is that they don't pay interest upfront. However, their interest rates are very competitive and sometimes more than what you can get from bank.

I know this because I trade using bank and the app.

Treasury Bills are short term instruments issued by CBN on behalf of FGN at a discount.

Above is the general definition you would see and if you want more examples you can check it. You can only choose to invest your at your own request not by default. The standard is set by CBN and others follow.


Yes, sometime they could have good yields which will supercede the rates but most time yields are passed down as bogus rates for people who do not understand it.

People who play with big money will understand it more. If you decide to reinvest by yourself even without placing the request to banks, you will see that your interest paid upfront when reinvested will yield and interest and that interest when reinvested will yield another until you reach a non significant amount.


I didn't add that with bank, just place your request and your money will be deducted or credited to your and it will be at your disposal when ready. No transferring to any wallet or using any card to invest which in turn will be same when ready and sometimes request to send from wallet to account is delayed. Limiting you access to your fund when urgently needed.


In all these, the most important thing is doing what works for and what you enjoy.

Omonigeriarere:
I use the same platform and the ease of doing everything on same is top-notch. The only short-coming of the platform I know is that both interest and principal are paid at maturity.

That's like fixed deposit na. For, TB you get interest upfront. If you intend except you intend reinvest. Also, the rates on those platforms are very low when compared with what you can get from the bank platform. Also, payment to your bank account is direct with bank. You can either withdraw in the banking hall/ATM or transfer as you will as soon as you are credited.

teejay5:
House pls help,I just noticed Stanbic as refund d money I bided with but dey debited me safekeeping,TB trans etc

Sorry, I missed this earlier. Just leave the funds there for now. They would carry it when set. Normally, if it's not successful, they will not deduct anything: meaning that even when the whole subscription amount is deducted for custody beforehand, if it's not successful the amount is to be refunded in full. The deductions signify that their bid was successful. Maybe it's some human errors delaying the deductions.


However, since you are anxious and need to clear your doubts, you can still mail/call them for the status of your subscription and request for a proof/certificate of investment if successful. From there, you will be certain and any likely will corrected.

PraiseDLord:
Please is there any bank that displays available secondary market T.Bills rates on its app or online banking platform and also permits customers to invest directly on such platform? If yes, please which bank and via what platform?
Thanks

Yes, Standard Chartered Bank does through their banks mobile app but for you to access it, you have to set up your Investment risk profile and then you are good to go. Infact, there you will only access not just TBills but also FG Bonds.

You will also see foreign currency bonds listed (both FG Eurobond and other corporate bonds) and Foreign mutual funds which you can only access if you have a compatible settlement (Dorm) account domiciled with them.

Sanbuchi:
Please what are the documents I need to have with me in order to register and invest in the FGN bonds

Nothing much.

For the primary market, you only need to download the form or go get it from the issuers agent you intend to use, fill it and submit it as directed from where you get along with the proof of payment of your desired amounr. Also, some banks create automated platforms sometimes during the auction where you will just go and fill the form online. The only extra thing that it needed with that is just for you to upload your payment receipt.

If you have a CSCS account, it's also very okay as it is usually required on the form. After auction and settlements, the bond is usually allotted to your CSCS account. However, even if you do not have it, your bank will look for how to warehouse it for you and if you decide you want to resale it, you will have to contact them for it.


For primary market, the only platform I have used for bond so far and know their ways is Standard Chartered Bank. For them, all you have to do is to click on investment option in bank app. Everything there is automated: After clicking, check available listings and select options the has your desired rate & tenure. Then you Input the amount you want to invest (Be sure it's already in the account with them before you start the process) and select buy.

That's all I can say for now. If you have other questions you can still ask.

heavenisreal18:
Pls I have not been debited over two weeks for a bid could it be the bank which bank is best to do t- bills investment with

See there is nothing wrong for you to contact any bank you invest with either via call or email on the Friday of Auction week or at least Monday of the following week to confirm the status of your TBills subscription.

You can sometimes go out of the box of banks and contact other investment houses too because I don't understand what banks are doing these days. You can contact coronation, Greenwich, Afrinvest etc. Asides primary market, they sometimes some good deals in the secondary market too. You are just emails or calls away most times.

just2endowed:
when is payment for FG SUKUK IV/ INVESTEMENT

It should be on 29/6/24 and that's weekend. So you should be looking at Monday 01/07/2024 or Tuesday.

mikeapollo:
This is a good, thought-provoking analysis of Oando historic performance in FY2023, and serves as a good guide to moderate the expectations of investors/gamblers.
My thinking, however, is that investors weigh in more on the potential future earnings and performance of the company, rather than past performance.
Most companies/stocks that are doing well on the NGX (and other exchanges worldwide) have always had a history of bad financial performance in the past. FBNH, Transcorp, BCC (now Dangote) Cement, WAPCO etc. are just a few examples!
Oando's financial results for FYS2023 (and probably HY2023) do not include the impact of the acquisition of ENI/NAOC oil fields. So let us do an analysis of the revenue and profitability that could be attributable to ENI/NAOC operations. That should be the contribution to Oando's performance arising from ENI/NAOC assets. Then we can have a better idea of what to expect.

She said everything she had to say in the quoted post. In all the stocks you mentioned bar Transcorp, something happen that changed their fortune chiefly of which is management.

For transcorp, the management didn't change but it took an attempt for a take over before the Chairman had to let minority shareholders benefit. That's someone that's even known to democratize wealth ooo (As he would say) if you compare every other of his company listed.

What is the antecedents of Oandos management?When last did Oando pay dividends? How much dividends has investors that bought it about 70 Naira gotten cumulatively from 2010 till now.

Also, this is not their first time of acquiring assets. Oando acquired ConocoPhilips in 2014 with fanfares. How has that benefitted the shareholders.

There is all also " Future Potentials" and "revenue and profitability" that at the end will disappear all the while it will just disappear as usual. So, let us just gamble in peace and allow sentiments make money for whoever want to ride with the tides but if you really want to look at it based on antecedents, there's nothing in it.

IYGEAL:
I see. Maybe the series of public holidays caused this one. It used to be faster.

Fingers crossed.

It has now been credited even earlier than posted. You can check your CSCS for confirmation.

olig:
I get the point. It is still okay by me for now. Since my fund is save.

Please, how reliable is the Morgan Capital? Opening an account with Stanbic IBTC stock brokerage is tiring. I first spent many weeks before I could submit my application; it kept returning error. I contacted them and they said they will communicate with their IT. Many days passed, no response. I contacted them again, and again. I was only able to submit when I changed my Next of Kin address to the same address that I used. I wonder if it is a must for me and my next of kin to live in the same address.
After submission, I only got a notification that they will get back within 2 days. Many day passed, no response or confirmation of opening. I contacted them after like a week and they apologised and asked why I chose "others" in the source of investment. I explained to them and they said they will get back to me. The last communication was Friday last week. Since then, silence again.
I am getting tired of them. I just like them, but they are discouraging me now. I initially thought I will go with United Capital, because I just opened a MMF with them now.

I always prefer brockers and Fund Managers with parent bank or other affiliated financial institutions with good records.

For me, Morgan has been very ok and I have never hesitated to recommend it to anybody that needs it. Their fees/charges is about the cheapest among brokers here. You can connect to NGX live feed through the Morgan itrade webportal and make realtime transactions yourself without recourse to them. With them, your account is credited when you pay and email notification will be sent you instantly. So long as you rightly indicate your account number no need to call them. If you request for withdrawal through their automated channels on the web portal it you mandated account will be credited in no distant time. The only complaints you can get is sometimes when the NGX platform is down you may not be able to access. Also, once in a while people complain about their customer care but I have not encountered it like that.

I experienced same thing with Stanbic IBTC Stock brokers. I got frustrated and left them alone. The most annoying thing is that they started responding after I have gotten myself sorted out.

Like you have been told, the efficiency of the parent body has nothing with subsidiaries ooo.

If may say, not minding the fact that the have frustrated me of recent and am very angry with them, the most accessible Asset Management firm through their parent bank is SIAML . In any Stanbic IBTC Bank, the customer care can handle your issues, relate them with their asset management wing and you will get your desired response immediately.

The first time I tried to open FBNQUEST Account. I went to the main FBN (Commassie) branch in Abuja. I was only told that they used to be here but have moved out to Mataima. You can open a Stanbic MMF Account in any Stanbic IBTC Bank branch.

Brands like United Capital Asset Management are doing very well on their without recourse to UBA. Also, to me as a customer I prefer the services of Coronation to that of Access Bank their parent.

olig:
I have not withdrawn. I started 3 about months ago.

I asked them before now and I was told I need to fill the liquidation form and send to them. 1 to 3 days to process it (I think 🤔; i can't remember the exact).

About the online access, I asked them in July 2022 and they told me they were working on it. That it will soon be out and uptill now they are still working on it. That does not show any sign of seriousness. They must not even have an app just a web portal will do. I am using morgan capital as my broker and can confidently recommend it to anybody with just their itrade webportal.


About withdrawal maybe they can keep up with that 1-3 days promise. It's only when there is a trail that you will be convinced. Not to discourage you ooo because you are already with them but you have to know them and prepare your mind so you won't get frustrated. Also, having a better service will be a bonus for you.

Even more viable firms like Stanbic, FBNquest and United Capital most times do not treat it the unautomated request that fast as quoted. While, you will get your funds within 3 - 24 hours after withdrawal request through the automated route if everything is rightly done from your end, going through filling of liquidation form request takes longer time with back and forth. I tried it with InvestmentOne's Vantage Dollar Fund before it was moved to GT and it took me about 2 weeks with serious craze/display in their office before I could get my fund in my account. Maybe because is VDF sha. They might have changed now sha because it's a new management. Also, individual experience will definitely be different.