₦airaland Forum

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.

BigBashiru:
I made inquiries from my broker today about your case... most likely Cashcraft are the ones that do not want to transfer it because they do not want to lose you tho I could be wrong... I was also told that CSCS does not typically induce delays into this process....but please make your own findings...

Thanks. I had to send a reminder to them again.

Krisuba:
Depending on what you have and ur purchase price, atimes it's better to sale and repurchase into the desired stockbroker!!

That's what I would have done no matter the price difference but Cashcraft has been suspended and even if they were allowed to transact getting my money from them would have been a problem as I have not filled any direct settlement form with th we them.

essentialone:
I transferred from Cashcraft to Afrinvest. It was faster

Wow lucky you. I initiated the transfer since September 2021. I paid to CSCS to get the account statement as requested, fill the forms and everything. They collected and acknowledged it. Since then I have contacted like 4 times on the issue and all I keep hearing is that SEC has put a restriction on transfering from Cashcraft for now.

BigBashiru:
what is the fastest way to transfer stocks from one stock broker to another stock broker - and can it be completed within a few days?

Hmmm, it's getting to one year now that I tried to do this from Cashcraft to Morgan Capital...After undergoing the stress of all their requirements it is yet to be done.

just2endowed:
who noiticed that stanbic asset mgt has not paid interest on mmf for this month>

All MMF have their ways of crediting interests. Some (Like FBNQuest) collate it separately and send or reinvest quarterly, some monthly and some weekly/ daily. SIAML MMF before August reinvesting bit by bit like 2 -3 time in a week depending but since the beginning of this month, they have not reinvested it. They have just been collating.

If you pay close attention to your fund you will notice that there is daily/gradual increase (You can write down what you see today and check it back same time tomorrow, you will notice the interest). Also, if you are using the app once you tap on the icon to display your balance, you can also tap it again to see your current return. Meaning the collated returns that have not yet been reinvested.

I don't know why they stop. May they want to change pattern again.

Dbossmanager:
Boss @ Freeman67.......please how do I get to invest in mtn CP....?

The time is almost past ooo. The offer was reviewed to 11.3155% according to what Coronation MB sent to me. It closes by Monday 12/09/22. However, if your money is ready you can mail Afrinvest 'afrinvest securitiesltd @afrinvest. com' or Coronation Merchant Bank ' ibteam @ coronationmb. com ' to get details.


Sorry the picture is not clear.

comatekeke:
You forgot to add Commercial paper are far riskier than TB.

Yes. However, with the rating of MTN Nigeria and the business they do, the risk is tolerable. I will rather go with the 4.8% difference than the risk free TB at this time.

Nakedman:
The rates are spiking! NO investors will look for anything less than 10%. Coming weeks might be interesting

There are still better deals in CP. The only limitation is get the required minimum of 5M. Presently, MTN has CP offer for subscription of 184 days @ about 10.4 that is sweeter than the 5.8 TB is giving for 180 days.

Also, C& I leasing has offer of about 14.7 for 270. Those rates are better by far compared to what TB is offering.

These are not policemen or women. The crest on their beret says otherwise.

Jakumo:
You have highlighted the paradox of cannabis prohibition.

We all see the good and bad we want to see. You have very well highlighted the the negatives of alcohol and cigarette which I totally agree with.

However, you failed to see the negatives of cannabis and it's negative multiplier effects too. If it is a pharmaceutical company growing or its grown in a controlled environment, they may not be an issue to it because it will then be used for the positives you highlighted. That said, there are lots of negatives drugs (cannabis included) that made the government to prohibit it's uncontrolled use.

The number of mentally unstable people in Nigeria are increasing on daily basis because of uncontrolled use of cannabis and other drugs. That you failed to see / highlight. As they become mentally unstable, they become useless to themselves, families and the society at large. Creating a bigger social problem for the government to deal.

Most times money and time spent by parent and relatives to train them are wasted, then there is also money spent in trying to rehabilitate them that may never yield result because of addiction.

It creates addicts that does not only want rely on it to leave but would also make them to want to disposses others of their money and properties to fund their addiction. In most cases refusal to hand them the money or property to fund their addiction may either lead to theft or violence. Which brings me to the final point.

Cannabis and other controlled drugs aid criminals to commit crimes and other violent acts. Majority of the violent crimes we see being committed these days from armed robbery to kidnapping and even terrorism are aided by drugs. Without the aid of drugs (cannabis included) the pepertrator of these crimes can only plan at best but for their actions to come to fruition, they must be assisted by drugs to toughen them up and remove their innate conscience/human feelings to be able to act reclessly.

The whole gamut of insecurity and social issues are connected to the use of drugs. That's where the government is looking at.

Tripleaj:
@ Emmasoft, @ Emmanuelewumi and the house, please I need your advice, I called my account officer at Zenith bank, to liquidate my TBills I subscribed last week, but he told me, I will lose 15% to 20% of the capital, that is the penalty. I asked why, it was 5% when i subscribed. He said I better leave it till maturity. Sir, please is it true.
Thank you

When you subscribe TB there is a proof of investment/Certificate alway given. In that proof, the terms and conditions of the contract is stated there.

Normally deductions should be from to the interest earned not capital. However, the issue with TB is that interest is collected in advance. So it will eventually eat deep into your capital bearing in mind the upfront collected and the charges taken.

Dum20:
Wow 19%

That is high ooo.

Yes it is high but Afrinvest always have a way of trying to eat deep into it. Their charges and 10% taxation that will be introduced into it from no where does not go well with me. That's why I like Coronation MB. They seldom charge those ridiculous extra charges and taxes when arranging or partnering for either Commercial Papers or Corporate Bonds. Their issuer takes care of those cost. However with Afrinvest, after collecting from the issuer, you will still be charged and taxed on the non taxables.

Allboiz:
Do they remove charges when you withdraw from your Eurobond investment?

Not done Eurobond Fund withdrawal. I believe if there'll be any it will be from your bank.

Nakedman:
Yes please. What steps do i take to withdraw some funds from my investment?

For me, I send my withdrawal request as a mail to 'customer service @ united capital plc group .com' (remove the spaces in between the address). Then send a backup text to their WhatsApp number.

doggedfighter:
Don't dismiss and release these wild animals to the public.





Kindly hang them upside down in your barracks.


We already have enough bandits and hoodlums roaming.


How do you kill a man kind enough to offer you a ride?



And this may not be their first time.

Most times people rush to comment on what they don't understand. When Service Personnel are dismissed they don't just go home. Unlike civilians that can be arrested from the office, tried and sentenced, Service Personnel will have to first be tried internally within the service first and dismissed if found guilty before they face normal civil prosecution.

After the dismissal they will be handed over to the NPF who will then file the charge against them in Court. Their fate will be decided by the Court.

tomtomastom4:
I created this thread in response to the post on front page about ladies that date men who earn less than 100k. Below is the link.

https://www.nairaland.com/7292274/ladies-relationship-men-earns-100k

Of a truth, its not easy to manage such amount, but when one is already in such situation, you just have to manage and improvise.
Now like the OP of the above thread requested, here is the break down of how we make our expenses.

To start with, I was earning about 130k previously before we got married by March this year, but I changed job and the pay of the new job is 95k. STarted the new job around Feb this year, even though there was a loan I was paying off.. Need I add that my wife was working in a firm where shes paid 45K, but two months after our married, she quit the job due to pregnancy stress. Am sure ladies will understand.

This is our break down.
Monthly salary 95k
I remove 40k first from the salary and transfer it to 3 different acct.
The first acct receives 20k. This acct is not touchable except on extreme emergency. Its our main savings acct.
The second acct gets 10k and its for our rent, also non touchable. Rent is 150k per year. Before u say my rent is high compared to my salary, I like my privacy very well. and the cost of rent isnt friendly in my state.
The third acct also gets 10k. This one is for semi savings. This acct is touchable when cash at hand have been exhausted before the next month salary.

From the remaining 50k,
I send 10k to my family acct. I and my brothers do contribute 10k+ every month and its been used to run expenses WRT our parents and last born.
I gv my wife 10k for her monthly up keep. Its small. But its the sacrifice we all have to make for the good of the family.
I hold 10k myself for logistics and transport. I must confess, is not enough. But One have to strive. My wrk place isnt far. SO transport is N100 to and fro, thats approximately 3k per month. The remaining money i use it for other logistics. 4k out of this money goes for gas wch last for abt 2 weeks. And when we want to refill and there is no other money left, we fall back to the 3rd acct.
The remaining 20k is strictly for food ( On this food issue is where I "duff my hart" cos shes really managing things well and trying.
Sometimes, I really feel for her, cos this her pregnancy makes her to crave for things that is not on our food menu, but then when the money is not there, she just surpress the cravings. At times I feel bad.

The remaining 5k, for now is used to pay back a tailor who sewed multiple pregnancy gowns for my wife.

Its good to add that any small money I make like 1k or 2k on side hustle, I directly buy mudu of rice, beans or flour for swallow.

Its not easy at all. But there are families with kids leaving below that.

My wife is abt 5mnths pregnant, we plan to divert the 20k savings to buying baby things in preparation for child birth.


The truth is that the economic situation in this country is bad and so cost of leaving is very high. But then one have to survive.
But then in Nigeria now, how many percentage of the population earn above 100k. In fact how many jobs out there pays such as amount.

The only advice I have for ladies is that if you are not working and you parent family is the type need financial help from your husband after marriage, or you are the type of lady that is high class and wont settle for less or manage with your man. Plz kindly wait and take your time to look for a man that is RICH or financially capable of taken care of you and maybe your family. Please dont hide under the cover of you want to marry quick and then accept a struggling man only to start putting pressure on his head. Plz wait and marry a rich man.

Most responsible men wont really appreciate it if you are always demanding for things you knw fully well that he can not afford.


It is also good to note that no condition is permanent, things will definitely get better. A better job might come or my wife might get a job after her maternity which will increase our income.

The bottom line is, as a couple, but of you will have to work things out to improve your finances.

Very good analysis/breakdown. My only advise is that you should just get the few extremely required items at birth for now and be keep enough cash till after delivery before you start buying other things.

RayRay06677:
Good evening house, please if one has 100 shares of MTN, at the current dividend of N5.60 kobo per 2 kobo share , how much will the person be expecting? thanks

5.60 X 100 = 560 ÷ 10 X 9 = 504.

Marketapprentic:


Abeg wetin 411 mean?
Whatever it means, I know for sure that you are carid and your days will be long

Email

411 is a particular news channel. In this context, it means what is the news about it/ what's new.

OBAGADAFFI:
I think it is correct .

With the way he sounded and that emoji @ the end of his post. I think he was just clowning.

Bobbiee:
Another South African brand again. We should be careful with the way we keep bedding these people

Not a South African Company. It's a United Kingdom Company later acquired by France with strong presence in the entire Europe and other parts of the world.