₦airaland Forum

emmanuelewumi:
Is your branch in Lagos? Are you a senior citizen?


Rules can be bent sha.


They found out that 90% of people in the banking hall are for transactions of 100k and below, it is a way of decongesting the banking hall and for people to embrace the cashless policy

Nooo my branch is in Zaria. It been up to about 15 years I have visited my branch. I have been transacting from other branches anywhere I find myself. I was using ATM on it initially when card services were introduced but after my first card expired, I decided not to use any card on the account again.


I am not a senior citizen ooo. I also get disagreement sometimes till I insist because I am aware that using ATM or not is my right and the time to waste in the bank is mine too.

emmanuelewumi:
Transfer of below 100k are not allowed in the banking halls of First Bank, you will be advised to use the phone, mobile banking app or the ATM

All these things are relative and as such depends on the situation most times. I have an account with them that I no longer use ATM card on. About 2 weeks ago I transferred only N11,000 to another from within their banking hall.

debostar:
Has anyone experienced transaction reversal from a bank in nigeria before.
I have been trying to transfer money to Morgan capital group since yesterday.Each time ,the transaction keeps saying failed transaction or reversal
Please ,what do I do

Yes several I have tried to transfer from Ecobank to Zenith and from UBA to Zenith. From EcoBank it was successful but was later reverse. While from UBA it said the transaction was unsuccessful but I was debited it however got reversed later.

I will recommend GTB, First Bank and StanbicIBTC. Zenith seem okay too but I have not operated any account with them directly so I can say anything about them.

leo1234:
They didn't do anything different. All banks have been doing the deduction silently without alerts.

Trust me no 50 kobo leaves my account without me knowing why. Yes I get charged for stamp duty when I receive deposits in other banks I use but not when I make the deposits myself.

ukay2:
Heard so....

What is happening?

Their lots of their customers just discovered how fraudulent there are. They pilfer customers account in the name of charges.

leo1234:
Access bank trending on Twitter over stamp duty charges deduction.
Imagine getting debit alert of 10k for accumulated stamp duty charges.

There bunch of thieves. Imagine charging me for deposits I made to my account by myself. That action alone is at variance with the Finance Act 2019 that they claimed authorized them.

The picture you attached is a normal ATM card charge as contained in the last revised CBN bank charges/rates. You can Google it. The banks I use sent me copies of it then but I can't search for any to attach now.

Instead of N50 + 2.5 5% VAT ATM monthly charge on all accounts as it were, the CBN revised it to N50 + 3.75 quarterly for ATM on savings accounts only.


That is not to say that you are wrong. About 2 months ago my Access Bank account was wrongly deducted of stamp duty charges (for deposits I made myself and all efforts for them to reverse it was abortive). Though I have relaxed for now but I will eventually close that account because of that.

ositadima1:
See as d prick small.

You be woman ? How matter take concern you now?

Make I no put sand for person garri sha ooo...but that land has not increased a penny since people bought it. It is in one bush on your way going to Karshi 2 from Oroso.

It was not well planned. Was sold anyhow.

vacanci:
What was the rental dates on your letter please, including the first rental date. Mine is June 16 and December 16 annually

The first rental date will be December 16, 2020 while the last will be June 16, 2027. June 16,2020 is the commencement date; that is when it starts to count.

unite4real:
They are still looking to scoop the huge money in circulation and taking advantage of low rates regime. This time around we are not hearing IPOs up and down. Na commercial papers now.

That's ok compared to the current TB rates for those that are agree with that industry. For me however, I don't invest in that industry.


I had interest in MTN but could not invest as my enquiry to my bank and broker was to no avail. The Chapel Hill Denham office where I was directed was closed that morning.

So, please keep them. Thank you

unite4real:
I have not really seen any disorganization yet apart from the change in date of the allotment date and I am thinking it was because of the presidential speech. You recall PMB reiterated the sukuk project. I guess they wanted the announcement of the allotment to come after the speech.

As for the allotment, it has been done already. It's administrative work by the financial advisers that is going on. Your days for your first coupon or rent is getting closer as it has already started counting down.

For the dematerialization of the sukuk to appear on your CSCS, it's usually 15 business days from the allotment date. Let's say from June 12 to another one month.

For you to start trading it in case you want to sell or buy, it will take like 6 months to be listed on the Nigeria stock exchange.

This has been my experience

Ok, I now have a better understanding of how it works. Thank you very much for your detailed explanation.

@unite4real from your experience, how many weeks or months does it take before you are credited your alloted number of Sukuk.
Is it usually this disorganised or this (Sukuk III) happens to be a peculiar situation because of the oversubscription?

dipoolowoo:
Nigeria Sells Treasury Bills to Investors at 1.80%
https://businesspost.ng/economy/nigeria-sells-treasury-bills-to-investors-at-1-80/

When I can conveniently leave the money in my bank account at 3.75 instead.

Sholapey:
If you don't hear from them tomorrow morning, please give them a call.

Thanks will definitely do that.

Sholapey:
Send email or call them to check your allotment because I got my allotment letter this morning.

I just sent a mail this evening when I saw that people close to me already got from FBNQUEST.

So I am expecting to hear from them tomorrow morning.

Sholapey:
Yes, in full. Broker is Morgan Capital.

This na luck ooo. I used Morgan and I haven't seen anything. Most retail investors would have paid in full latest by 02/06/20. However the statement there is somehow.

Escapev:
Deleted

There was no need for you to have deleted it na..It didn't reveal your details. It was just a proof/information to update us. I guess those that did through the hodco banks are already seeing the allocation notice. Morgan Capital is yet to send notice to their customers in that regard.

From that notice it seem not everyone has paid for the allocation given to them.

Barrytone:
any other person having difficulties accessing AFRINVEST site, are banks still selling secondary market tbills. any known rate.

I do not deal with AFRINVEST so I won't be able to answer your first question. To your other questions, yes banks still sell secondary market TB. I asked in a branch of FBN on the 29/05/20 and was told they have a bout 3 tenure but the rates were very poor. The highest tenure of about 357 they had that was pegged at about the rate of 2 point something.

debeey87:
Good morning all. I'll appreciate everyone's thoughts on my narrative below.

Every quarter, I contribute a certain amount into an annuity plan with one of the insurance companies. The plan is that at a certain age(50yrs), the company pays me monthly(500k) till death having fulfilled the premium payment to the required age.

Going by the volatility of the naira which gets devalued every now and then thus reducing it's purchasing power overtime, is such an investment still advisable?

Will investment of the premium currently being paid quarterly into a good dividend stocks be a bad idea? (I have a couple of dividend paying stocks already).

Thank you

My fear for you first of all is if the insurance company is in Nigeria, will it continues to exist till then? Also, will they keep to their word when it is time to begin payment?

Those are my fears for you not even the devaluation yet.

daddymgg:
Enough of the yabbing na. If person nor get idea must you guys come dey Mok am. If you can help a brother out just relax, rather than teasing someone that want to know.

Respect goes to those that give you an in-depth analysis without mocking you.

In the same advice you refer to as yab, I denote where he wrote that if you must sell your ETI, sell half of it to invest in your C and I leasing instead of all. I believe that is what he has to offer. How do you want the advice again.

emmanuelewumi:
The allotment schedule will explain that, it will be published in the dailies and released on DMO websites. At over 420% oversubscription it will be difficult for Investors who invested N10 million to have full allotment. The allotment will be prorated for such Investors

I read on the DMO website that the whole subscription is about 446% amounting to about N669.124 billion instead of the N150 billion they intended. They decided to allot N162.557 billion to investors instead. That is a little above what they offered. However, there was no details on how it was alloted. I have people that invested directly through FBNQUEST and through Morgan Capital which was also through FBNQUEST but have not gotten any mail indicating a successful investment/terms and conditions. The only mail gotten so far was to acknowledge the investment when they got the funds/evidence.

https://www.sunnewsonline.com/over-n10bn-losses-await-speculators-as-abcon-hits-forex-market-2/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2320333+%3D%3E+MORNING+NEWS+HEADLINES&utm_content=237647a8583bdfce43ff137440aa6c373756c742


For those concerned. Focus on the goal. Put your ear on the ground andavoid unnecessary distraction so you will not be left carrying the can.

For Jaiz this could be part of why it is moving.

https://www.google.com/amp/s/www.thisdaylive.com/index.php/2020/06/08/jaiz-bank-posts-n2-4bn-pat/amp/

Mcy56:
If people don't die when NB, Oando, Guinness, FO, First bank, GTB, Zenith, stanbic, fcmb, Unilever, PZ, etc fell from skyscraper, then Japaul shouldn't and wouldn't be responsible for any death.

Majority of the shares you listed pays dividend so when left with you there is some form of consolation once in a while. I have just about 80,000 units of Evans Medical that I just wish should be deleted from my stock list but it is still there looking at me.

The only very odd stock I see in this your list is Oando . If there is anyone here that still have it in his/her portfolio then its the persons love for it. If not there was enough caution here to make such a person selloff or desist from buying if he/she has the intentions.

Blessamaka:
My post might be lengthy but I'll try my best to be brief but please read to the end.

I'm in my early twenties (20's) and currently a student in one of the prestigious university in Nigeria.

Before I got admission, I usually help my mum to sell onions in Ajegunle market aka boundary market in Lagos State.

Ever since schools were shut down due to the pandemic I've been scared of helping my mum because of the despicable rules or laws guiding the business which i might not be able to keep to it thereby putting my mum in trouble and that's the only means of survival for me and mum for now.

My mum belongs to a group of people that sells same product and they are usually referred to as Union and the leaders are the one dishing out those annoying laws.

Examples of such laws are:

1. You don't buy more than the quantity of goods apportioned to you else you will be fined and suspended from selling but the so called leaders go contrary to these laws

2. They tell you when to buy goods i.e before buying new goods, you sell your old goods for 7days not minding if the quantity apportioned to you is enough or not. My self as a case study, we were apportioned 3 bags of onions and I sell 3 bags in 3 days so me and my mum would stay at home for 4days before going to buy new goods.

3. They tell you when to start selling which is 10:00am everyday excluding Sunday and this law was before the pandemic

4. They tell you how to sell i.e the size of onions you are to sell for a particular amount as if they borrowed you money or they are the one giving you money always to buy goods.

And many more of these unimaginable laws. Right now I confused! I don't know the best way to go about this and I really do wish to start selling because I'm broke and I've so many responsibilities to care for financially.

I need legal help, advice on how to go about this until I get something else to do or probably a work or a different business.

The reason for going into business is to make profit and save for rainy days but the reverse seems to be the case here.

Please help me move to front page to get more reviews in regard to this.

Bring Investment ideas which would have been a better alternative since TB is too low now we won't see. The same too much talk that has not yielded anything in this country is what some of you unnecessarily litter this place with. @ Dreamflyin above was a practical problem that was brought for practical solution. What was your answer there again? Also be reminded that cars are imported too and it also comes the same way other imported items comes through agents. Anything that is easy for me I do not go on internet looking for solutions to it.

You guys will come here and be bragging and talking anyhow as usual..Na una trade mark.

Complain to your bank. There will guide you on what to do and how to do it.

Juenwume:
Please can somebody explain to me the meaning of new 52 week lows and new 52 week highs? All i just know is that 52 weeks = 1 year.

You don understand am finish na.52 week high (the highest amount
it sold within the last one year.) 52 week low (the lowest amount it sold within the last one year.

GonFreecss1:
Bros! I can’t use it o. *Tears*

E no dey work!

Then you will have to complain to the bank about it. It is not normal.

GonFreecss1:
How are you using your GT bank naira card to make FX purchases? I can’t use mine no matter what I do.

Maybe you got a verve or visa card. Though I am yet to see GT VISA and VERVE card sha but if it is their MASTERCARD you can use it across board.

kaywhy09:
You can as well try investing into foreign exchange market. You can do it yourself. Ask me how.