₦airaland Forum

Hallenjay:
IS it a good advice to change some naira and keep dem in my gt b dollar account against the imminent devaluation,and wats d risk if d devaluation doesn't come because d dollar account is empty and I dnt know d gtb policy on us account..I don't want a situation I'll be asked to leave some of dem in d account in d name of no zero operation account. I open it wit zero naira.
I want to know if someone has tried it or know a way I can push cash from my gtb naira account to gtb usd account.

All GT accounts are opened and operated on zero balance.

The fight to get out of all the buses on NSE is real. Doors choked windows choked... Indeed helpers are needed to come with axes and cut them open to in order for some people to survive.. some people are already getting burnt..

Mizwisdom:
N80K?! seems you have about N1Billion in that account

Nooo about N24 million will do...

Sach:
Exactly!!!!!! I know they do not accept cash for mutual funds, I have their naira mutual funds. I deposited usd cash in my own Dom acc to transfer to their Dollar fund but they refused.

I had same problem earlier in February with GTB. I had some USD in my USD dorm account and wanted to add more to transfer to United Capital/Invest-now for Eurobond Investment. I requested for a USD deposit and transfer forms but was given only the deposit form. The teller instantly told me that they no longer accept USD transfers between Nigerian banks. That USD transfers can only happen now if I am transferring to a bank abroad.

Sholapey:
I need info on how to retrieve some of my funds from afriback. I learnt they've changed name but I don't know if I can go to my branch in apongbon lagos island to file for claim, your advise is needed sir.

Yes, Afribank merged with Skye bank and later transform to Polarise bank. I believe you can. Most Afribank branches that operated as Polarise bank around me are still operating..

Davidonkonsults:
Hi. Have they responded?

Not yet ooo.

ainadamilola:
Guys, I don't know if you guys are experiencing this stupid deduction from Stanbic mmf o. The interest is very low and they are deducting anyhow. Not up to a month and they have deducted plenty money from my small interest. Please house, is there anything I need to do to stop this nonsense? Or something I need to know? It's getting too much. They're deducting almost /more than they give � people help me

How do you come to the conclusion that they have been deducting from your interest.?

I believe what they have been doing that you see as deductions is actually reinvestment of the interest for you.

To understand what is actually happening with your account/fund you will need to monitor your account daily for a while.

Forget where they write interest. Write down the your main balance and subtract your previous balance every week/business day. When you do this for a while you will discover that they have not been deducting.

CarlosTheJackal:
Is this the problem of Corporate Affairs Commission?


I'm not their staff so my dressing shouldn't be their concern.


Imagine if Zuckerberg came to register Facebook wearing a Polo shirt and a Jean he will be turned back.


Idiots are now growing geometrically in Nigeria

I do not know what many Nigerians youths have against rules, regulations and etiquette. Majority are so quick at copying and quoting the whites yet the white have etiquettes they follow for almost everything. You would not see Zuckerberg in club wearing suit. He wore jeans and t-shirt throughout mostly when visited but when it was time for corporate visits he was corporately dressed.

Why will you dress to people's office wearing bumshorts, tattered jeans, lowwaste and what have you all because you want to express yourself or because you feel you do not work there. Why don't they dress that way to their court rooms. Does it mean the court is restricting them from expressing themselves too.

Let's not be quick at supporting inappropriate behaviours please. As indiscipline as footballers can be that they dress anyhow. Sir Alex then still made all his players wore suit when going for their official business of playing football whether home and away.

Grupo:
Which one be zinc again?

I pity people that will lose their money to all these schemes sha.

Na mobile app from investment one.

OmniSparrow:
Trying to open a mutual fund account with Stanbic IBTC and its just frustrating. Address on my NIMC card is no longer my current address and this is just trapped my funds in my savings account. Anyone here with help, kindly holler.

Means of Identification in Nigeria now includes: National Identification Card, International Passport, Drivers Licence and Permanent Voters Card. You can use any of the above apart from National ID.
Also, Utility bills includes: Water bills, Electricity bills, House rent receipts etc. Stanbic also accepts your bank statement provided it carries your house address.

Having an address presently different from the one you have on your National ID should not hinder you. Your house/contact address could change at any time. It is just for you to explain to the bank one any question comes up about it.

SaintUlot:
@the bolded, in that case how will investors make payment for investment and how will fund managers pay interest on investment if dorm to dorm transfers are not allowed?

I am yet to get answers from them for now.

OmniSparrow:
They told me I need to open a domiciliary account to fund my eurobond fund account.

I believe the dorm is for investors refund and redemption. Most likely it's accepted for the investment houses as a means of refund.

SaintUlot:
Yes, you need a domiciliary account, but @freeman67 has a domiciliary account and he is still being faced with another hassle.

Yes, I already have a dormiciliary account I opened at the time I wanted to invest VDF and it is still functional. However, the Issue I have is that the account given to me for Eurobond Fund was not a dollar denominated account and as such I could not pay in dollar.

Secondly, I was told transfers from a Nigerian Dollar account to another Nigerian Dollar account is no longer accepted.

SaintUlot:
If you cannot do dollar transfer between two Nigerian banks how will United capital be able to send your interest to your bank account?

I am still waiting to hear from their customer service on these issues..

SaintUlot:
Which mfm are you currently using for dollar fund investment.

Presently, my money is in my account. I would have used Stanbic but I already have the limit of investment I want to have there for now let me diversify.

I have opened a united capital Eurobond fund account but have not been able to fund it. I tried to do a transfer to their account and was told by my bank that I cannot do a Dollar transfer between Nigerian banks except I am sending to a bank outside Nigeria.

Then I tried to deposit the money only be told by the teller that the account I deposited the money to is a naira account..and the receipt printed for the deposit was showing a naira sign. It means that e.g my $1,000 becomes N1,000 which is not in any upto what is acceptable for the Eurobond fund. The teller refunded my Dollar and ask me to pay her Naira because they could not debit money from that account after crediting it.

I am still waiting for them to reply me on how to go about it.

Their customer service gave me an account no that I thought was a Dollar Account.

Dsticks47:
Investment one (Vantage Dollar Fund)

....Are you sure that is true? I haven't really tried other firms Eurobond apart from this your VDF and I can tell you it is that smooth.

As at the time I tried it out in 2018, I was already used to seeing what happens in my investment account daily with SIAML so I thought it will be that smooth. My experience with VDF was however not so cool.

I subscribed to that VDF for about 9 months and throughout that 9 months I never had access to know even if my account was growing or not. All effort to get that was to no avail.

After trying and could not, I decided to terminate it. Then comes another wahala... I submitted my dorm account details as required and they started telling me sort code did this and that. I called GT connect and they gave me the details but they were still not satisfied.

Eventually, I had to go to my bank(GT) and was given that same sort code.they gave me on phone that they rejected. I came back with it before it was finally accepted. Then I kept disturbing them for about two weeks before it my money was finally released.

The money that later entered my account for $1,000 investment for that 9months was just $1. something.

Maybe things have changed now but my experience then was no palatable.

https://www.nairaland.com/5670502/nwabuba-victor-ifeanyi-forex-scam

It is better to learn from mistakes like this than to become a victim.. in the absence of viable less risky investment opportunities and enough time to operate a business in the real sector, it is better for the money to be in an account and depreciate than for all of it to disappear into thin air.

ernie4life:
News around is that Dangote Cp will soon be out (just rumor)

Ok, we will be waiting...

DigitalMallam:
Half of my yearly income comes in then month if Jan. Like someone earlier hinted, all the alternative investment options mentioned so far on this forum ain't worth the stress. I've dumped my earnings in mmf. Capital preservation guaranteed. My major tb matures in Sept. And if by then tb still haven't pick up, I'll still move them to mmf.
Sometimes in Dec. I wanted to diversify in dollars ($) savings and investment, one of my colleague I approached to sign my form narrated a rather bizarre experience. He told me he opened a domiciliary account and deposited $500 and after two yrs, he decided to check the bal, lo and behold the money has reduced to $350 in the name of act mtc and commission. ( he quickly withdrrew the bal. to be kept at home. He signed the form though but advised me against keeping my fund in Dom acct.
Those that operate $ bond should please advice me or share their experience.

I operate a dorm account with GT where I have access to check my balance on line anytime I want. My balance for more than one year has remained same. No maintenance charge. Only transfer and withrawal attracts charges their.

https://www.nairaland.com/5650231/option-c-investors-storm-oko

I just read your post this morning and saw the news this afternoon...

I am just seeing on the back page of the FGN Bond tender form that the minimum required is N10,000. Also I am seeing a space for bid rate when already there is a rate attached to the bond. Why is it like that?
So if we are to bid separately as stated what percentage is likely to fly?

emmanuelewumi:
Asset Management and Investment banking are different and also interrelated related.

Asset Management firms have equity mutual fund products, money market fund products, fixed income fund products, Eurobond fund products , REITs , Wealth management products and other derivatives.
Wealth management products assist investors in perpetuating their wealth and Investment from generation to generation, through the creation and management of Trust accounts. There are people who earn tens of millions and more annually through such trust accounts .

Investment banking involves assisting big businesses/ government etc to raise funds for Investments, businesses and projects etc. The funds can be in form of equity or debt. They act as issuing houses to public offerings, right offerings etc, they are also Investment advisers to businesses, government and High Networth Investors. They also help in the marketing of highly lucrative deals, business and investment opportunities to High Networth Investors.


This is just a summary, asset management firms and Investment banking firms do more than these.

Thank you Sir. Been trying to separate both for a while.

emmanuelewumi:
Used to be a subsidiary of UBA, the company was spin-off by UBA and transferred the ownership to the shareholders of UBA, so that the bank can concentrate on core banking,.

Investment One was a subsidiary of GTB. GTB sold the ownership of the firm to the staff and management of the company. In order to face their core banking business.

The only banks with interest in other financial businesses apart from banking are Stanbic IBTC, First Bank and FCMB.

These banks have holding ownership structure, they have subsidiaries that are into Investment banking, asset management, stock broking, insurance, trustees , Pension fund management etc. Hence it takes a long time to audit their financial reports.

What is the difference between investment Banking and asset management?

partnerbizn3:
It's wrong to say MOST SEXY

True.. the superlative is sexiest by queens'. However, America allow us to play around sometimes.

abraolas1:
whats the Steps i can take to close/Withdraw all my Money from Stanbic MMF

Any Help will be greatly Appreciated

Thanks

Firstly, is your app set up for online redemption? If yes then,

If your money is below 1 Million Naira just press the menu option, redeem, enter the amount you wish to redeem, answer your secret question and wait to hear from them.

Also, If your money is more but below 2.5 Million Naira you will have to increase your maximum redeemable amount. The highest is 2.5 per day.

However, If your money is more or you did not set up your app for online redemption then you will have to go to their nearest office to you to redeem. Since it's all your funds you intend redeem you will have to write the exact amount you have there at the time of redemption.

partnerbizn3:
most sexiest

chai

rip engrish

Yea, It should be 'the sexiest or the most sexy' but we don dey used to am for Nigeria like that.

Mills55:
please Sir, what are requirements to open account with Morgan Capital? Is there any hidden charges on the account in case one didn't run the account for a period of time? Is my presence needed for the account to be opened? How does one fund and withdraw from the account? Please answers to this few questions will really go a long way in helping some of us here. Thanks in anticipation.

Whether you run it or not there used to be yearly N2,500 account maintenance charge. Not sure if it is still there but I can't remember reading any news that it was removed.

When I saw the topic of your post I was thinking it's a total deviation from reality but after reading I realise the newspaper is just an alarmist. Putting it any other way than this would be to lie and that may either cost their citizens wishing to live and invest here there life or investment funds.

That's why they say exercise build confidence. Squatting alone will build more and shapen it so should be ok for her.. Same way skipping will reduce for those with too much of it.

joyandfaith:
what is dating ? dating is different from courtship. the guy allowed his girl to date a guy for a moment.

Dating is a stage of romantic relationships in humans whereby two people meet socially with the aim of each assessing the other's suitability as a prospective partner in an intimate relationship. It is a form of courtship, consisting of social activities done by the couple, either alone or with others. Wikipedia

YungMillionaire:
I don't understand. Your girlfriend asked you if she could go out with her crush and you said yes? Did I read that correctly OR did you type it wrong?

He was trying to say his girlfriend requested to go on a date/ sit out and chat with the guy. Not to date the guy/go out or became the guy's babe as is the true meaning of the statement.

HoraCanada:
Pls which of the Investment companies update their ROI daily ? Thank you.

I know of Stanbic IBTC MMF. They update their ROI every day. However, weekend ROI are updated on Mondays.