₦airaland Forum

MeezPat:
Where you dey see this CPs buy

Through Afrivest and Coronation Merchant Bank.

Abeg Who get the result of this week's auction? Stanbic is already telling customers that they didn't succeed and are willing to only give customers 364 from their secondary market @ 11.5%. The list CP I have done for this period is above 15% why then will I just go with their Secondary Market when I can move to Other bank or invest in CP.

They are here again to force an unknown and untested investment down the throat of unsuspecting investors. Same modus operandi as always, send one agent to fly the kite, then one or two with come to support it.

Any attempt to question or investigate their claims then you will begin to see attacks. If you are sure of what you are advertising is genuine then allow people talk.

.

Caverton to skye.

igbizen:
Has anybody been able to log onto Stanbic MMF?
Or is it tomorrow the platform will start working?

Not yet. I tried this evening and it still didn't open.

[quote author= post=122414462]Update From . COM

The Cross River State Police Command has condemned the jungle justice meted out to a suspected Phone thief in Calabar.

The Suspect identified simply as Eyo, aged 22, was set on fire by an angry mob on Sunday, April 9, 2023, in Esu Street, off Edim Otop Street, Atimbo, Calabar Municipality LGA of the state.

According to an eyewitness, Eyo had allegedly stolen an android phone the previous evening and fled, only to return the next morning and meet his tragic fate.

Residents claim Eyo, who resided around the Second transformer in Inyanghasang, had been involved in petty theft for a long time.

“I have known Eyo since secondary school, he has always been stealing, there was a time he stole half of the class school fees. Even as we grew into our 20s, Eyo became audacious in stealing and more notorious, he was always caught stealing, this is not the first time a mob tried to mob him, it’s unfortunate that he got unlucky today,” a source told Vanguard.

"They started beating him with cutlasses and gave him deep cuts before setting him ablaze. Funny enough, it’s just for stealing an Android phone,” the source added.

The spokesperson of the command, SP Irene Ugbo, who confirmed the incident, stated that it is illegal for anyone to take laws into their hands.

Ugbo added that the right thing to do would have been to report the suspect to the nearest police station and hand him over, rather than killing him in such a gruesome manner.

"The mob action against the suspect was illegal, barbaric and highly unacceptable, he should have been handed over to the police,” she added.

Source: BLOG[/quote]This is bad completely bad considering the fact that an innocent person could be wrongly accused and set ablaze before realising he or she is innocent. Also, the price of phone is so small that a whole human life should just go for it.

That said, in a way I can understand why people do those things sometimes. Just last night I was by the road side (an express) when I noticed a lady walking towards me dejectedly. She had wanted to cross the road but couldn't in that state. So before she got to me a vehicle slow down and try to ask her for direction but she did answer them then they came to me, I directed them and they left. She then asked me to help her cross the express to the other side. It was while crossing with her she told me she was just dropped off a vehicle after being robbed of her phones and wallet containing her ATM cards and other valuables at gun points. Just imagine that kind of situation.

She felt vulnerable, shattered and dejected with her movement plans scattered and valuable taken away. Will she have any pity for such a person if he happened to be caught?

Batman2412:
What is FTDs? I noticed in united capital money market fund sheet of February 2023 that 68.2% of money market fund is invested in FTDs, 25.6% in Treasury bills and 6.2% in commercial papers. Please, what is FTDs?

That should be referring to Fixed Term Deposits if I'm not mistaken.

Oluwatobike:
Good evening NL. Please e don choke me as in no money to even eat food today since morning, and I have some shares I bought from MTN last year. I have about 24k in the share.

I have tried to withdraw it no way; I have as well try to sell it no way. Seems I don't know how to go about it. I need to eat. I can't have money somewhere and am starving since morning.

What are the procedure to sell my share and make withdrawal so that man pikin go eat b4 I kpeme.

Mod pls I beg you help me push to front page I need to sell it this night.

Contact Chapel Hill Denham stock broker. I think majority of you that bought the shares through the IPO without a stock broking account were allocated to them.

Since the IPO, they have paid interim dividend of about N8.00 per share or so directly to your bank account given to them if I'm not mistaken. You may not notice it because it will not be much based on the number of shares you have. If you are sure you did not receive it then contact the same broker for way forward.

After that, they have also issued 1 share for every 20 subject to maximum of 250 as advertised in the IPO.

Lastly, they are about to pay another dividend soon that can be converted to shares too if a shareholder wish so.

sgtponzihater1:
They sent a mail out that they'll be down from a maintenance between Thursday and Monday, I believe this would be the reason.

Ok,Thank you. I didn't get the mail that's why I was worried.

I don't know if any is facing same issues here. I jave been trying to access my Stanbic IBTC mutual fund account through their mobile app and internet access since Thursday to no avail. It will just act as if the internet is bad and wont display anything. I have been using same network for every other thing on my phone without issues. In fact I even use it to open my Stanbic IBTC Bank section of the app.

What seem to be the issue please?

skydiver01:
I believe its the 11th as shown in the CBN Tbills schedule below.

Its 13/04/23 that is showing there in that calender so any bid should at least be done on Tuesday 11/4/23 because monday is public holiday .

MeezPat:
Please is there any bank where I can get tbills of 5mn from the primary market as rates are higher here.I got assisted for the normal bonds not savings from a commercial bank at an amount lesser than 50m but I want to do same for tbills and they say it has to be 50m before bidding.At the last auction I was offered 11% for secondary purchase which was gotten for 14.74% at auction. Kindly assist

Yes, you can't place your own bid with any amount below 50M but you can go with the bank's bid. The 11% they gave you from their secondary may have been gotten less than the 14.74%. This is because lots of them bidded lower because they weren't expecting the spike in rate from the 9.49% to the 14.74% and may not want to loose out.

That said, I am sure many of them will bid in that 14.74% region or even higher for the next auction. So you will have to go with the banks bid if you still desire to invest in it.

emmanuelewumi:
It is not advisable to do business with a firm.


I have money market fund investments with the following

FBN Quest Asset Management
FSDH Asset Management
GT Fund Managers
Stanbic IBTC Asset United Capital Asset Management.



For now I am get the best yields from
FBN Quest Asset Management and FSDH Asset Management.

But currently have a yield of over 11%

Very apt. I have diversified but I think I need to do more. Right I am using only Stanbic and UCap. I like FBNquest but I haven't joined them because I don't know how fast they credit customer account after redemption/withrawal.

I should begin to look into FSDH too. I don't like GTFund lack of online access.

Stanbic IBTC MMF handler are seriously misbehaving this days. It seems there is no particular pattern/calculation/rate they use to credit the fund. They just wake up and credit account whenever and however they like. They want to damage the trust/ reliance people have in them. What's keeping my little fund there now is just the fact I can withdraw and my account will be credited within 24 hrs if not by now I should have left them totally.

Supremos:
https://m.facebook.com/story.php?story_fbid=pfbid02jHfApvKFCsyqYi4hbuoCRgWCqe8a3pE6zzgsh9q8cnK71hoAmoWnNe6C6kpdCybtl&id=100000479373538&mibextid=Nif5oz

Not fair. It could rain while they are sleeping. The open space can also expose them to snakes and scorpions. Thank God they have mosquito nets if not not the risks of malaria would have also been high.

igbizen:
Stanbic MMF is becoming too slow in updating account. This is evening already and weekend returns have not be updated. Even to reinvest earnings for the month of March is yet to be done.
@emmasoft and ponzihater what is happening? This is unlike stanbic

Yes, I noticed that too. It could be because today is the first of working day of a new month.

rookidmart:
You run a business and use a current account.
Per the banker's tariff published by CBN the current account maintenance fee is ₦1 per mille (₦1,000)
You can download/print your account statement and confirm if you're being charged over the tariff. If you are, then you can take it up with the bank.
Also note that the tariff (₦1/mille) is negotiable and negotiation is to be initiated by the customer.
Realistically in every negotiation you need either leverage or a good relationship to triumph. I wish you good luck.

VAT is a tax and goes to the government, not the bank. It's a statutory requirement and the bank will be fined if they do not remit taxes.
No matter the amount you're charged you'd still have to pay taxes

If after calculating this way and it doesn't not add up or you are not satisfied, you can try and discuss it with them and if you don't get any resolution from there. You can mail CBN through cpd@cbn.gov.ng explaining your situation and efforts done to resolve it. I believe they will intervene.

Good luck.

Jasonblu:
Reaprite gives 12-16% on their plans....
been with them since 2020....

Click the link on my signature

Seun:
Fellow Nairalanders,

We have noticed the use of ethnic slurs and other derogatory names by a small but persistent group of political actors and trolls.

This practice of derogatory name-calling adds no value to the forum. It's bad for our mental health, our harmony as a community, and the reputation of Nairaland. It's simply toxic. It's absence and the absence of the people who use those slurs will not be missed.

Therefore I have decided to ban the practice entirely. I have instructed dominique, mukina2, Lalasticlala and Mynd44 to ban anyone who uses an ethnic slur or derogatory name on Nairaland. The antispam bot will also contribute to the effort. Please report any case that you see.

- Seun Osewa, Founder of Nairaland

Way to go Seun... Nice one.!

ejijorice:
Pls, how do we invest in this commercial paper?
Thank you.

RayRay06677:
Good luck

For this, you can google 'Afrinvest' or 'Coronation Merchant Bank' look for their contact there and mail/call their Customer Service. You will get a reply on how to go about it. It's not a complicated thing. Once you display people's phone numbers and email address here now scammers will want to feast on them.

freeman67:
Daraju CP.


Flour Mills Corporate Bond is about will soon come up too.

For this, contact coronation merchant bank too. You will get an instant reply.

Daraju CP.


Flour Mills Corporate Bond is about will soon come up too.

Agbalowomeri:
Elections have been successfully held and winners declared. Why should anyone think May 29 has uncertainties?

This is a very nice and patriotic question.

There are 1 or 2 pointers around that may suggest why such insinuation is still coming up at this time when ordinarily everyone should be preparing to welcome a new government and adapt to a new style of doing things. One of such is the concern raised below:

https://www.nairaland.com/7627814/dss-raises-alarm-over-plot

There maybe several others but I can't delve into them because I am not a "politician" and this is not a politics thread.

Ordinarily, those discussions should not come up here on this thread. However, it can not be totally avoided because, when there are monetary decisions to be made, there is the need to consider all probable and even improbable cause of events that could happen and how it may affect your investment before committing your fund. We should leave gaslighting for politicians whose money are directly involved and focus more on how navigate situation when ever and however it comes.

We should just to take some statements here on face value and stop reading deeper meaning into them. Delving deep might raise some political discourse which will not be healthy for the thread.

RabbiDoracle:
Never heard of that. I believe most people will be speaking about it and the news will filter to clients. There must definitely be a heads-up.

There are some monies you can't keep under the pillow. It must be banked. So one needs to be aware of events happening around and you do you due diligence in selecting a good form to trade with.

I was going to ask a similar question. The slight difference is, mine is with the broker instead. What happens if the broker have issues and you have some balance you have not used to buy shares in your account with them. Something similar happened with Cash Craft. I know you can get the shares you already have through CSCS which was what I did with Cash Craft. What if I had money in my investment account? I am not sure the money would have come out because there were other customers that had other investments with them that are still struggling to get back their money.

Tohmey:
Help! Pls which free app can i use to fill & sign pdf on android

I use Adobe Acrobat. They will ask to subscribe if you want to be using it to adjust or modify pdf doc but once it is just fill and sign, you don't need to subscribe.

RabbiDoracle:
I'm not in any group.

Ok, thanks.

Horlartunes:
Hi
How do you calculate 182 days
For instance an investment of 1m
Thank you

You not include the interest rate. You only included principal/capital and tenure. That said, let me assume the rate of the investment to 9%.

For me this is the easy way I calculate it is;

N1,000,000 ÷ 100 x 9 ÷ 2

or

N1,000,000 ÷ 100 x 9 ÷ 365 x 182

RabbiDoracle:
Chief, why are you disappointed?

It is a common knowledge here that there are watsapp groups that discuss stocks. Some are paid-for groups, while majority are free and open groups but with rules which Nairaland doesn't have.

Why do people migrate?

It is because investors are too emotional when they take positions in the market. They don't want negative facts being shown which they believe could affect the performance of their stocks. And when such facts are presented, the messenger gets attacked and insults hurled at the person. So they tend to migrate to where there are rules and where there are majorly 'adults' who listen to you and present their own views to counter your points. There are lots of business managers, professionals, academics who comment daily here and state what they think based on facts they have that could impact markets positively or negatively. But immaturity of some members cause them to migrate to where there are rules.

In such groups, they do make analysis more detailed than what you see here. They do make forecast more detailed than what you see here. Such analysis can cause convinced group members to take a position or leave a position. But if they do so to influence prices, then such can only be done for some ultra low caps stocks and almost moribund companies. And even when such people start pumping those names on Nairaland, you will easily know that these are pumpers and want to dump soon. Members are not dumb here. We know those who pump and dump ultra low stocks.

And that is why you see NSEMPA gets dry of members who post independent analysis.

Please I can tolerate whether analysis is in my favour or not ooo. How do I join the WhatsApp groups, please?

Allboiz:
A friend needs an advice...

He has 30k usd invested. He gets 5% annually as interest in usd...
5% interest on 30,000 annually is 1500usd
1500 * 740 = 1,110,000 in naira

He then noticed that if he had converted the money to naira, his interest would have been much better because the interest on naira is around 10% - 14%...
30000 * 740 = 22,200,000
10% interest on 22,200,000 annually is 2,220,000

Now, he's contemplating on whether to convert his money to naira for fast growth or leave it in usd. And at the same time, he is scared of naira devaluation. Anyone?

If I was your friend, I will diversify a little. Depending on how offen he intends to have access to the funds and how long he intends to invest it. I would have divided the money into 2, 15k each. I will leave the first 15k in the dollar investment as a hedge against the erratic inflation and incessant increase in exchange rate.
Then, I will convert and invest the remaining 15k in fixed income asset of ie 10 - 15 years FGN Bond with the rate of between 13-16% and compounds if he desires long term.

He can also used the converted 15k for short term investment in CP for rates between 14-17% and invest with interest if he wish. That way, the naira side of it would have been giving more interest. The mix will give him a higher interest than what he is currently getting.

NL1960:
He withdrew after two weeks(14 days) of opening and it is supposed to be operated for 30days initially. So there should be a penalty.

I don't think they will be any penalty. He didn't withdraw all the money. Also, the penalty normally is from the interest not principal. So, even if they would be, it would not reflect.

igbizen:
I had 1M in MMF. Then I added 4.5M and added another 4.5M the next day making the total funds to be 10M. After two weeks I withdrew 5M. And allowed the balance 5M to remain for 30days. What will be the penalty.

No penalty. However, your subsequent daily rate after the withdrawal with be calculated and credited based on your 5M balance.

That rate there (5%) is per annum and not for the 30 days as you are assuming.meaning is for the whole year and will have to be divided by 12 to get the real rate. So if you were to make that investment, what you will get is actually about 0.416 instead, mind you that 10% tax will also be deducted from the interest you will get.

Ty207:
@emmasoft
Pls I have a question, anytime I open my Accessbank app I always see investment that promise 5% months, which is equivalent to 50/60% annually, my question is that why will someone leave such investment and invest in mutual fund that only promise 10/12% annually?? Note I have called Accessbank bank and I was told the investment is risk free and I can withdraw my money anytime even before the maturity day.... so I will want you to enlight me more about the investment