₦airaland Forum

ahnie:
Please bankers in the house, I need help with this.since last month I have observe strange stipends alerts in both my accounts.

It started with my business account last month that I opened, I thought it was a mistake, as I don't remember doing transaction with anybody by that name.

Pls note that, all my transaction money are paid into my daily account,whilst I transfer the money into my business account.

Moments ago I got another token alert again, I m getting scared.could it be possible that someone is using my acct for fraud or something by disbursing cash into my accounts?

To be honest I m worried, I don't want my acct to be flagged, pls help me.

Under normal circumstance, the right and proper thing to do is to go to your bank and make a formal complain. That is, you will write a letter and have maybe a snap shot as an evidence.

However, you are a business person and as such money could be paid to your account by a customer through a different account or even a POS agent account that does not bear the same name with your customer. So everything will have to be properly sorted out before you lay the complain.

If you rush to lay the complain and you eventually discover that the money is actually for you, you will go through a fresh hassle to get it back.

So, I will advice you to note down the various amounts and dates paid. Then leave the monies in the respective accounts paid to. Even if you are doing any transaction just don't consider it as yours. Just leave it there.

If it was mistakenly paid to your account, it will eventually be discovered and you will be contacted for the withdrawal. When contacted, if you are sceptical you can then go to your bank for vertical/ confirmation and then authorise the deduction.

Vipro:
Please, is business education a good course to study in Nigeria university?

Is it restricted to only teaching sector?

The name business education has two things in it. It has 'Business' and 'Education' meaning after studying, you could do or study business.

The only issue here is if you can actually learn the rudiments of business in the school.

Foodempire:
Merci

Bienvenue!

Foodempire:
Regarding sukuk, how soon will one get the rental after the initial subscription? I understand that it's paid twice in a year but when will the first rental payment take place after investment, it's my first time with sukuk thanks.

If you subscribe now you will get the first rent in June and the second in December 2023.

iReddington:
Yes, doesn't surprise me, he said he was close to signing for Arsenal, very close...just one step away but he made an emotional decision to return to Old Trafford.

No emational display there the fault was not his but Arsenal's for dragging leg knowing fully well that they had the best scouts and rivals are always watching their moves. Those days Arsenal was tight fisted and it affected lots of things.

Man U was convinced to go buy him by a coaching staff that left Sporting Lisbon to work for Man U when arsenal already agreed with him but was still dragging leg with the club.

You can hear Wenger talk about it.
https://www.youtube.com/watch?v=EtvSxu4vVy8

Zegra:
Dollar

Actual (Abuja) Bureau the Change price today is N770. I was to buy something and after I was told the price I felt it should not be up to that amount since dollar is on a free fall right now but I was woken up when the aboki they called for confirmation said the best price he could buy now is the N770.

I just wish there was something strong backing the fall instead of rumour and speculation...

IYGEAL:
Transparency is not a Nigerian. Anyway, they are trying in some other ways.

It's no so hard to be transparent. They just chose not to this time. Maybe they got tired of people asking why it doesn't tally or they have a separate website where they disclose it.

IYGEAL:
Okay. Thanks. I already set up the Secret Q&A. They talked about signing a form and maybe going to their banks. I don't have time for those, so they did well by using the secret question for it.

Do you see their daily rates on the app? I don't see that and also not on their website.

No, they hardly display their daily rates these days. It was on the website before. You could view from one of the options when you log in to own page but after some few modifications in recent times, it has disappeared. I don't if it is deliberate anyway...

IYGEAL:
I saw on their portal, something in the line of signing up for the online/mobile app withdrawal. Did you do that or can one just click on the redeem on the app and forge ahead with withdrawal?

You could redeem either through their online internet access or mutual fund space of their Stanbic IBTC (7 in 1) mobile app. In both, you will need first of all set up your security question and answer before you can redeem online.

Phraences:
Good day. I need to understand something please. What's the difference between going to bank to buy tbills and let's say putting the money inside StanbicIbtc mutual funds.. Is it not the same cbn Treasury bill rates they both use?

Also, must you wait until you get news of an auction before going to the bank to buy treasury bill?

Before I would have just ask you to read the beginning of this thread and the other thread for mutual fund for better understanding but lots of pages have piled up so it won't be easy.


1. As an intending investor, yours is to look at Treasury Bills as a short term government debt. Meaning government borrowing money from you that is willing to invest now for certain reasons and at the end of the day pay you a certain percentage for that money borrowed. Though it is through the banks and other financial houses that the money is collected, the borrower, end user or benefactor is government.

While you should look at Stanbic IBTC mutual funds on the other hand as the asset management arm of Stanbic IBTC collecting/ pooling money from you and other investors to invest in different classes/types of asset (depending on the mutual fund) on your behalf.

2. They don't usually have the same rate. TB Rates are usually guided by the CBN MPR. While mutual fund rates is dependent on the underlying asset class of the particular mutual fund.

3a.For treasury there is primary market auction which is scheduled for every 2 weeks (Here you have 90, 180 and 365 days tenure). The auction day of the week is mostly Wednesdays so you can just go to the bank on Monday of the auction week to put you request.

There is also secondary market auction which could happen every week day depending on the bank and availability of TB disposed to be auctioned. Here the tenure you get is the tenure available. It could be 356, 10, 27, 18, 99 or 63 days etc. Any tenure less than 364 could be available. It also limited to particular time frame. Eg The last I know of Stanbic is from 10 am - 1 pm.


b. For mutual funds you can invest anyday, anytime. It is not particularly tenured per day. You could deposit and withdraw at will.

Plus10:
Please, I have stanbic savings account already, do I have to open another account if I want to investment in mutual fund ?

Yes, you will have to open a Mutual Fund Account with their asset management arm first before you start to he investment.

richforever123:
Hello

I subscribed for Stanbic IBTC Instant account online, I made a payment of 5,000 but I was neither giving access details nor payment acknowledgement

What could be wrong, seems their Instant Account does not function and seems like a red flag

There are very poor in instant opening of account be it bank, asset management/mutual or stock broking account. Also apart from their bank's customer service that you can get on social media, through call or within the banking hall, the remaining of the arms are very poor in customer service too. It is only their pension arm I don know of because I don't use them.

This supposed instant account will take a little time. Then if you decide to go through the banking hall hmmm it could take you like 2 weeks unless you know someone there.

The only good thing is that when the account is fully setup, you can use their services yourself without having to contact anyone again. Depending on the weight of your investment and how well you can keep to normal terms and conditions.

ibechris:
First ally is the best amongst them all.

Nooo Stanbic IBTC is the best when it comes to withrawal. Self service withdrawal from their app especially if it's not more than the maximum of 2.5 M required through the app. Once you redeem on the app before 12 pm you are sure of getting it that same day.

Their only down side which also very bad is their unresponsive customer service and rates that are getting lower than the other now...

Mma24:
Hi guys,

I have been investing with Stanbic IBTC and seeing my accumulated interested but in October I noticed that my interests has been withdrawn I contacted them they claimed that they paid it into my bank account but no such money was received and my statement of account shows nothing entered but they are still insisting through their email that it did.

Please what do I do in this situation? I feel scammed by Stanbic IBTC

First of all do you still remember the exact bank account you gave while opening the account?

If yes, request for the statement of that account from last two weeks of September to the end of October and carefully peruse through. If that is done and you still didn't see it, then check your other accounts too just to clear your own side.

If that is done and you still didn't see it then, request for the account they claimed to pay and send them the account statement as your evidence. They may have made mistake and paid the money to a wrong account number. If so, the headache is theirs to carry not yours.

RayRay06677:
their rating is A-, WHAT DOES THAT MEANS? I THINK IS A IS POSITIVE AND BETTER

Yes A is positive. I have also tried to contact the Coronation Merchant Bank agent that sent me the e-mail advert/info and he gave me reasons it's not a bad idea.

1. The issuers have to meet the stringent conditions set by the regulators before coming out.

2. The dealer/joint arrangers marketing on their behalf have to do their own due diligence too because failing to meet will also put their own reputation at stake.

3. The company though new, have been in existence foot about 5 years but this is their first time of issuing CP. So it should be easy for them to repay.

I went further to check the profile of the Board members and management team. They seem to have been in the business for a while and would have reputation that they won't want to soil.


That said, the above is just my own personal findings and should not be taken as an investment advice. Interest investors should invest based their own personal conviction, please.

RayRay06677:
269 days for 17.54% - commercial paper, ends on the 7th. Minimum is 5m. Afrinvest

Yes, for Emerging Africa Group. Does here anyone know anything about them?

IYGEAL:
There is always the 90-day tenor for TBs. I suppose if you bought the one for 360 day tenor and terminate at 90day, your TB will instead be calculated for 90-day. As you have already been paid the discount, your initial capital would have to be affected to reflect the discount for 90-day as against your initial 360-day TB.

I haven't been in this situation before, so my input is also an assumption.

Firstly, TBill interest is paid upfront. So you would have collected all the interest before as soon as the investment starts so if you terminate mid way you will not get back your complete funds.

Secondly, note that the interest of 91, 182 and 365 days interest rates varies. In every rate for all the tenure defers. So a 365 days TB may not be converted to that of 90 days for you except where and when it favour the bank through which you subscribed.

Thirdly, beware that some banks indicates clearly on the contract /certificate of investment that they will be consequences/penalty charge of terminating before maturity. This charges however is on accrued interest as at the time of terminating.

Lastly from me, have in mind that when you indicate to terminate the TB you are asking them to dispose it of to a willing buyer at the secondary market. That sale will be done at the prevailing market rate. It could either be at your benefit or detriment depending on how you bought and what the price is when tying to sell off. So think very well about it, know the pros and cons before committing yourself.


I do hope thisy little contribution will be helpful.

gaby:
You'd stop eating this trash the day you see how and where they are made....

Yuck...

Very unsanitary and unhygienic...

Na fat wey dem rub pepper mix come dry am for sun where flies go perch am tire...

I will agree with you on the fact "Beef Jerky" know as kilishi in Nigeria is mostly prepare in an unhygienic way in Nigeria. The flies that hang around the area it's prepared in Nigeria is much.

I will defer on the part where you said "na fat wey rub pepper mix" It's not outright fat as you put it. It's mostly flesh. Just that like other meat preparations like 'Kebab' Suya and balangu the sellers don't just remove and throw away fat around here so it it added. However, they also don't just go and select fat to dry.

That said, you can still find that dried meat prepared and packaged in hygienic conditions around.

yeddy99:
a friend has some stocks purchased through cashcraft. he can't even remember all stocks and qty purchased.
please he needs advice on how he can access his stocks.
thank you

To know the stocks and qty he purchased through Cashcraft, he should just register on CSCS portal for access to his to check. This is very easy. As easy as just mailing contact@cscs.ng to make his request or check https://portal.cscs.ng for more details on how to registered. He should however ensure he still has the CSCS and CHN number Cashcraft issued him for this to work and some of his personal details used with Cashcraft. As an individual investors this will cost him about N3010 and he will have the access for 1 year. With this, he can login, view and print his statement at will within that one year. If he use same CHN he has from Cashcraft to open a new account he will also see that account there.

Another option is to mail contact@cscs.ng with his details requesting for the of his stocks details. They will tell you what to pay, how to pay and the details will be sent to you for just that one time you requested.

Then if his intend to trade those stocks, they have to first of all be moved to a working stock broker. For me, I will advice you contact MORGAN CAPITAL SECURITIES LTD to open a new account and move the shares there. This is because I have been their customer and enjoy their services. Also, they have helped me moved my shares from the same Cashcraft to Morgan Capital recently. Though it took time to move them because the staff handling it left the firm and didn't hand over the issue to his colleague as supposed to continue the process. It was however, resolved when I made further complaints to them and I can now see the shares in my Morgan Capital online access.

Onboard1:
How do you top up your Stanbic MMF without being charged?
They charge me whenever I added funds through the app

1. Get the account number of Stanbic IBTC MMF collection account. You can get it from your bank. It is also part of the document given to you if you open your MMF accoun in a branch/offline.

2. Make your normal fund transfer to the account. It could be from the banking, throughout your internet banking or your mobile app. For me I do not (USSD) so I won't recommend it. Make sure this transfer is done before 12:00pm. It will reflect in your account later that evening. If not the it will reflect the next day.

3. State clearly in the Narration/Remark/ Reason for payment column : your Stanbic IBTC MMF Account number and your name.

4. With the above, you will only be charged N53 & N7.5 VAT. Nothing more.

Wapgod:
Is there a nairaland thread for commercial papers?

Yes there is. Just that it's not frequently updated.

comatekeke:
Where can i subscribe to this?

Contact Afrinvest. The closing date is tomorrow Tuesday 18/10/22. So you have to contact them ASAP if you are interested so they could send you forms to fill and return/scan & mail back.

They could still reopen later it if the not completely subscribed sha...

Horlartunes:
Guys is it possible to buy 5 year’s treasury bills or just the normal 90, 180, 365 days allowed??

TBs are short termed. The highest tenure you can get is 364/1 year.

bjtinz:
Hmm. really? I'm surprised to see this. Not holding brief for them, but would easily rank United Cap as among the best when it comes to withdrawals, based on my experience. In fact made a req last week and account was credited abt 24hours later. For others eg investment one, I would have to follow up with calls and takes a while.

But I guess we have our different experiences. . .

My only issue with them (United Cap), was with their platform and inability to see daily gains. Here, Stanbic and ARM take the lead.

United Capital withdrawal is fine especially with MMF. Stanbic is better than all of them in self servicing. Their funding and withrawal is cool. So long as you follow their instructions, you can transact on you own without contacting anybody.

essentialone:
Hurry! Up to N100M is up for grabs and there's still time to be a WINNER! Recharge N0 or more to participate and also get a FREE CashToken reward.

How can I block these kinds of SMS messages from coming to my phone?

You can block it from Truecaller app.

choo:
I am looking at their MMF. I just left their app now. I clicked on the mutual fund button on the app and tried their registration process. I got to where you will fill in an amount, typed the amount I'd want to invest but it popped up an info that the amount shouldn't be more than 20k. Then i left the app.

That's one area I haven't tried before. However, the money area should not even be the problem because you can open it with just 5k which is what I will do if I were in your shoes because it's easier to top up when the account is set.

What you should be concerned about is the availability of scanned copies of your ID ( Any bank acceptable one/NIN), Your KYC document/ prove of addressed ( like utility; Electricity or Water) bills or rent receipts and be sure it tallies with the address you are presenting and your passport that will required as usual to complete the process.

I think with the above set, you can complete the process. What I do majorly on the app majorly is;

1. Redeem my funds when I need them. Most times I see my funds same day so long as I do it before twelve.

2. Monitor my accounts to see if my Top up/ Deposit is credited. Most times I fund my account through transfers as the main platform for transfer seem to be incur more charges than transfer.

3. I also request for Statement if I have the need through app.

Then set / reset my security question and answer; and my password.

choo:
Can you share with me how to go about it via the app?

It depend on what you want. What do you want to do in the app?

choo:
Good Afternoon everyone. Who knows how i can contact StanbicIBTC concerning their MMF investment. I've sent a mail to their assetmanagement@stanbicibtc.com and mutualfunds@stanbicibtc.com but there has been no response from them.

Thank you.

Their assets management and stock broken arm are very unresponsive these days except you have a personal link there. However, most of the things needed can be done through their app without contacting them anybody.

You can contact the bank by mail or Google their number and call the bank will link you up with their asset management.

Dogzoneng:
But my banks uba and first band no more do treasury bill. They say the rate is as good as nothing ...5%

For TB, UBA, Zenith and one other bank I think Fidelity or so from my experience have always been problem banks. For first Bank, any branch should solve the TB issue. However, back then the easiest way I get the most authentic info or get things done easily is to go to their main branch ( In Abuja it's in Commassie House, CBD) or mail/call First Contact. From there they will give you info and probably direct you on how to go about it. If any branch tells you anything contrary it's either you let them know that's not what First Contact said or you stay in the branch there and report back your findings.


You can try Stanbic IBTC and see if you have an account there. It has always been easier with them.

Also, Standard Charted Bank. Here you can place your bid for either Bond or TB by yourself from to their mobile app and it will be honoured.

Wapgod:
What stanbic ibtc branch is good for TB?
I just left one branch after much waiting and delay and I was told only 5% for 364 days is available which I declined.

Back in the days, I will send a mail to their customer care from the mail I will be informed of what is available and also directed accordingly. The mail goes straight to head office branch from where you will be informed of what is available and directed to meet the nearest branch to complete the transaction/investment so the staff at the branch would naturally just behave because it's from HQ.

However, these days they hardly reply mails. You can still catch their attention on twitter sha. Then go to through their DM to make your enquiry/request and get the required direction.

OkodiDenzel:
Who else was expecting coupon payment on Friday September 16th?

Was expecting 2 on 15th and 16th too but didn't see anything. I will be expecting them today sha.

ojesymsym:
Then you should be initiating this from Morgan end.
If I remember correctly, they will give you a form to fill and then you will also include a bank stamper signature specimen.

I submitted all to Morgan. Just go to know that I he person handling it resigned. So I had to re-initiate it.