₦airaland Forum

This is getting serious. I tried to check what PEAS really entails on their website but it is not longer accessible even though it is still listed among what they do.

I have tried to seek clarification on mutual funds thread and I was told it's securities and exchange commission (SEC) that regulates them. So you can direct your concern to SEC. I believe a starting point will be for you to just Google and mail SEC through their official/complaint email explaining your transaction and your prayers.. Let's see how it goes.

If any asset management fail in its obligations where can customers seek redress? They seem to be an issue with cashcraft asset management wing.

https://www.nairaland.com/5516137/cashcraft-investment#83837475

Your explanation is not explicit enough. Even if you do not know what is happening generally you can state your own side of the matter. Let's understand what the problem really is.

Brekete Family is close to you. If you haven't tried it,you can give it a try. It is just by life camp gate. Just narrate your story this way and submit to them at the gate there. They may only ask you to swear affidatavit to be sure you are telling the true story. I believe if Ordinarily Ahmed get to read your story the situation will change.

Imagine some that should be jailed is now being protected against a victim.. we still have a long distance to cover as a nation...

emmanuelewumi:
Beware of investing your funds with business promoters who promise you a guaranteed return of 50%, such promoters can easily get bank loans at 24%

The words of our elders are truly the words of wisdom. A little research on Nairaland will reveal that the caveat inserted in post up and down is just a smoke screen..

odimbannamdi:
Bros, why do you keep editing (deleting) your comments after posting? And most times, you do so after someone has quoted you with a counter post.

Were you not sure of what you wanted to say initially?

Ordinarily in a discussion on a forum like this if someone is countered the evidence should be there for those reading after the discussion to learn from but I just discovered that he has other motives.

His own is just to woo investors with very high interest rate to part with their money irrespective of whether it is feasible or not. So where his argument is not convincing enough he will delete them inorder not to deter the intending investors.

Philinho:
Empty brain...Right now I'm on the Kaduna- Abuja road with the military killing the "bandits" your brothers .What are you contributing to the NATION?

Well done, people like that guy are why this country is in its present state. They want everybody to be in the media running propaganda of imaginary achievement while abandoning their responsibilities instead of working.

Adiwana:
Well,if Bill Gates goes for a holiday on a yacht at a place like Ibiza or St Tropez for 2 Weeks,nobody will tag it unnecessary or show off. But that's some tens of millions of naira or probably dollars in spending.This is in no way adding any value to him.That money spent only in two weeks could probably build a factory or taken a lot of people off the streets through other means of employment.Difference between him and Mompha in this case is that he didn't post pictures of him inside the yacht.Dangote would probably be owning some Presidential rolex or Hublot.Jay-Z owns one of those.Difference between the two is that Jay-Z brags about it in his songs and Dangote doesn't.Both are Billionaires

In essence,rich people spend money just like everyone else.And just like everyone else,they spend money on stupid stuffs.They are not morally better

Because I am an advocate of not derailing this thread, this will be my final post on this topic. Yes
real businessmen could think sometimes that somethings are worth it but after spending they will discover it is not worth it. Their aim of spending that money is not to impress people.

About holidays, I believe you will know that most ideas and inspirations comes in quiet times so where you choose to relax when you want is important and it's not a problem if you can afford. And yes, you could take family pictures there and it will somehow go viral or pressmen/women may bump into you there. It is different from you snapping in the vacation because you want to show off on Instagram to impress/oppress the entire hustling population or you inviting the media to come and cover the vacation for paparazzi..

You would have also heard the common cliché that says all work and no play makes jack a dull boy. The body needs relaxation after some stressful period. Where you choose to do that too is dependent on the quality you want and how bouyant you are.

zamirikpo:
@freeman67, ii understand ur point but u left the substance and u are focusing on a little phrase.

Whether the rich spend there money extravagantly or not the point @ahiboilandgas was stressing is that they are mostly I'll gotten wealth.

My mentor is money.

I did not missed the point. Yes he stated that he wondered if Dangote will spend extravagantly like that I think is bevy he still has some respect for him and could learn from him. Of all the irregular and illegal means his listed there was no where he listed government support or favours, that does not constitute any offence. At least we all know he is into manufacturing; everybody in Nigeria will acknowledge that he is the manufacturer of Dangote salt, sugar, spaghetti, flour, tomatoes, cement etc. Except we later hear any contrary news like we are hearing among the other people he listed, he is assumed to be legit.

I thank God for his blessings on you. That is what I wish and pray for. Legitimate rich and aspiring Nigerians that could be mentors to those coming behind.

Grupo:
Not that easy with an offline business.

Unless you are running a tech start-up.

True but it is still possible..

Adiwana:
I really hate seeing this whole Dangote this and that thereby painting him as a clean man that makes his money legitimately.Another is this whole rich people don't live like this and that,they don't buy expensive cars and watches bs.

Dangote supports politicians in order to protect his interest.He funds their election campaigns which he indirectly provides money for election violence in Nigeria.Why will Nigerians pay ridiculous amount of money for cement.Why isn't the govt doing anything about it?? He's no saint

Why will the rich spend money on private planes when they can spend far less money on economic flights if they are so economical with money?? Why will Dangote and co go buy a house in Banana island when they can equally purchase an apartment for far lesser cost in a very secured location in that same Lagos?? I can go on and on. Same way some people spend millions of naira on a house they can sleep in one bedroom at a time will someone spend millions on a watch if he deems it necessary. Rich people spend money on expensive things.Let's don't get it twisted

I do not know about Dangote's support for politician and spending funding violence. I will however tell you that real businessmen do not buy things for show off but because it is necessary. For real businessmen, time is money and as such flying at your own time and pace is required if you can afford it. You will agree with me that Banana Island is more secured than even the other areas you feel are more secured also, accessibility of an area and the network of people you can relate with around that area is very vital too.

Some people spend millions in buying or building mansions because they know they may have people that will visit at interval and would want to stay there. There are different from the group of people that acquire those things just for the glams.. You will not see them arguing about who is richer.. They know their worth.

ahiboilandgas:
It seems most wealthy Nigerians earn their wealth from shady foundation,I use to dream of becoming rich and look up to some mentors but lately am very disappointed,I used I wonder what sort of bussiness the like of e money,mompha ,iventus obi do to earn such huge money that they can afford cars wort 400k dollars ...

With the way FBI & EFCC are torch-lighting them now..I believe you have can imagine how they got it now. Genuine business men do not waste money that way. I still believe you can be richer in clean business. It's just for God to pick your call and let you discover a line of business people are not familiar with and before they wake up to know you are already dominating everywhere.

Philantropists:
Have they added the amount the requested for Investment at your leger balance.

The new form they ask people to fill for primary market is called "Information on Fixed Income Securities".

The custodian is ok to be Stanbic so you won't go and choose a custodian that is about to do BenJohnson

No not yet. Though it's been a while I invested with them but if I can recall most times they add it after auction.

ukay2:
Hope the banks (STANBIC IBTC ) will see this public notice

Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

igbizen:
This is why I mentioned earlier that diversifying investment is the best. Now with the non-availability of secondary market, I have to leave my money in my account for another 80 days so I can mop up. No one knows when we are going to wake up from this CBN adjustment. It might even get worse.���

If you still wish to enjoy secondary market, you can do that by switching to investment houses instead of banks. Like someone explained here earlier, it's CBN's OMO that was stopped and not TB.

This new CBN policy dey sweet banks for body for now. They just dey do shakara because even before now na fixed deposit they want make you do but their brains go reset once better money begin leave dey head to Investment houses.

Viqtour:
Good day house.

I am an ardent follower of this thread and shouldn't be asking this question. I've been using First Bank for TBILLS mostly in secondary market.

First Bank is having issues with TBILLS so I decided to try GTBank however, I invested in primary market yesterday but till now I haven't been debited.

I don't know if I should call my account officer or if that's what is obtainable for GT customers.

Auction is Wednesday, settlement should be from Thursday. They only accepted your request early to submit them to their head office in time for bidding on Wednesday. I believe you will be debited if their bid go through.

Systrom:
Thanks

The login details I will be provided after registration. Is it both for the app and online (web)

Or will I be provided separate login details ?

Yes the login details is for both web and app..the only differences are;
1.The web will still require an OTP while the app no longer requires OTP since their last upgrade.
2. The app requires your full phone number while the web require only the last 4 digit of your phone number.

sgtponzihater1:
Please I have a stanbic account, and also a mutual fund. How do I fund my stanbic mutual fund directly from my mobile app without visiting a bank. Thanks for reminding me

I believe you have been using your mobile app to transfer funds to other accounts. If yes, all you have to do is to transfer whatever amount you intend to invest from your account to FirstTrustee/Stanbic IBTC Money Market Fund account with number 9202476223 quoting your own Stanbic IBTC MMF account number in the column for transaction details. Be sure to do this in the morning before 12:00pm any business/working day you intend to.

Caveat: It is necessary to at least visit the bank branch once and be sure of their account details before you start transacting from afar.

BlackAfrican:
Just wondering guys, when your Tbill mature and your capital is paid back into your account, in the process, are there any charges (e.g stamp duty) levied on the deposit by banks or directive from cbn?

TB is tax free..it's only your bank that may charge for sms. Maybe that's why First Bank stopped sending alert when ever credit accounts with TB proceeds.

AwkaetitiBabe:
Why? Too expensive?

Very cheap for Abuja even if it's local rice.. in maraba orange market closeby where items are supposed to be cheaper you cannot get any brand local rice there for N17,000 now..

Sonwa:
Please urgent advice is needed.
So I decided to do Tbills and I went to fcmb to open an account to that effect. my acct no was given to me dat day, but do to my acct official is a family friend n also acct official to my family members. she started telling me stories abt my plan to invest on tbill, dat she will not advice me to so. So I abandoned d acct and switched over to stanbic.

For Stanbic IBTC address verification seem to be compulsory especially if that is your first account opening/ dealings with them. About 7-8 years ago when I opened my account with them, the lady that opened it followed me home straight for address verification.

So there is nothing new about it..Just taking the representative is to your door step should be enough except you want be a gentleman and invite him/her ...

igbizen:
I just opened a VDF account now. And I have a don account in GTB. What should I do next? All KYC uploaded already.

Sorry I didn't last with them as a customer to enjoy that app/internet access. I was yearning for a platform like it to view the growth of my investment but it was not forth coming then so I left them. You can contact their customer service or ask one of their representative emmasoft on this thread.

AwkaetitiBabe:
I bought one bag yesterday for 15k in Wuse Market.

Is this a joke?

This is not new..it's has been the law for a while now

Hallenjay:
Thanks, I've written to der mail, a new account offr has call me... Hopefully on Monday. I'll just wait for Wednesday dan to purchase der secondary rate because primary auction start on Wednesday.

You are welcome. OK then, at least that goes to show that no particular person in any office is all and all..

Hallenjay:
I've tried ds and they r just pushing me from one person to anoda.. Even to the teller, I was der as early as 9:40 got angry and left around 12:30 on Monday... Abi d cash no try 500k oooooo

All these things sometimes do not need as much stress as this.

1. You can move your money to other bank quietly and do the TB there transfer charge is N52.5. Just make sure you visit the bank to know if they have your desired rate/tenure before the transfer.

2. However, if you do not have another account or you insist on doing it with them then just before you go out to the bank or while in the bank that morning you can call their customers service to verify what is available on ( 01 422 0003). That call will go to their Head Office Customer Service though like normal CS it be giving you options till you select to speak with an agent so you may spend a little on call. I'd an agent pick tell them what you want then if you are satisfied with any option tell you had to call them because nobody wants to treat your request in the branch you are... You will see what will happen.

3. Also, if you insist on investing with Stanbic or you do not have another account, you can go on their main twitter handle post your complaint there if you use twitter. Just explain how hectic investing in TB is in the branch you went and how many time you went there. They will ask you to send a Direct Message to them and explain the details.

Good luck.

Please for Muslims in the house when is Walimah usually organised for women? I have no issues with the topic anyway. I just want to expand my knowledge...

Robisky001:
The topic is misleading. Most influential Africans in the world and you're saying the list is comprising of just Nigerians ermmmh?

It is either you read this post and didn't understand or you didn't read it but just rush down to make comments. I am amazed at the people liking this your comment too because it shows they didn't read it too.

Hallenjay:
hi
Pls kindly advice me on ds.
I make some deposit to my stanbic account and try to get d form tru mail but none of the customer reply, den I went to d bank the next day to pick a tbill form for stanbic, the staffs was just pushing from one to the other ,from teller to customer care to another person again... Las las the customer section called me bak dat der is no tbill by this hour dat there only available secondary market comes on from 8am to 11am and I can't fill ahead dat the interest comes everyday dat II shd come the next day.
I got pissed off and request to close my account, they start anoda go here go here again because it was Friday and I've a meeting to attend, I left the bank and go home.
Now my question is do stanbic actually have times they auction der secondary rate and if I want to close my account, will I be able to cash out all my money without charges considering am closing it.
Thanks

1. You can threaten to close your account if you have enough money but do not be too quick to do the actual closing..
2. You can always use another branch of the bank. Except if it is just one branch that exist where you live.
3. Like most people said up there Stanbic rates are about the best these days so you don have to leave them.
4. Be informed that in doing secondary market TB transactions, most banks have a set time for it. For Stanbic IBTC; branches starts seeing rates from Global Market and could treat TB transactions from 10 - 10:30 am- 12pm. For GTB; It's from 10am - 2:00pm. While for FirstBank it's around 8:30-9:00am - 3:00pm.
For these, if you bring any request after their closing time they will either not attend to it or they will treat it the next day depending on your rapport /understanding the Officer involved.

zohan101:
You could have passed this same message without sounding insultive to Mr Emmanuel.He did mention about diversification which includes other forms of investments..

Please lets learn to read the entire commnts and comprehend before responding.This thead has helped educate alot pf people , lets try to keep our debate and conversations healthy..Thank you @all

That is my problem with lots of them. Why will someone want to jump into the middle of discussions he didn't know how it started in such a manner.

bigdot1759:
you're talking like a professor who never think/reason outside accademic life, must everyone invest in real estate just because you're into it? There're many & far beta investment that's more lucrative than real estate..... If someone belief in TBILL then let them do it, must all of us make it from one DIRECTION

Some of the advice you see here are priceless because even paid consultations cannot give some. Yet you are seeing them for free and instead of you to learn from them you are talking anyhow. If you do not have something nice to say you can as well say nothing and pass. Nobody is forcing/convincing you to do a particular type of investment. They just laid it bear for you to follow what suits you.

Ufedolove:
This just shows that you don't even know your state enough. The part of Anambra state bordering Kogi State have people that speak Igala as their main language just like Enugu state.

Just leave him, he is claiming there are no Igalas speaking indigenous people of Anambra State now because he is fighting for the title of the most populous tribe in Nigeria but when it's time to claim oil producing state now they will suddenly remember that the part Igala land oil is deposited is of Anambra.

volonte:
Thanks a lot. Do you have some experience to share with me? For example, is the capital guaranteed?

As a former subscriber of VDF I can boldly tell you that capital is guaranteed. What is not guaranteed is your interest ( I am not sure I got upto $2 for investment of just $1,000 when I terminated the investment after about 9 months.) and opportunity to monitor your investment.(My main reason for terminating the investment.) I kept requesting for a means/access to my account to no avail so I had to terminate.


The only good side to them is that you can deposit the USD to their account (ledger account) with GTB thereby saving you transfer cost unlike Stanbic that you must transfer.

doubletop:
Please can someone explain to me what it means by Proof of Address showing your name/surname.
I saw this in Stanbic Ibtc MMF site as part of requirements for open MMF account.
My Nepa bill does not carry my name. Please someone explain to me

Yes like someone said above, your statement of account carries your address so it suffices for Stanbic. Incase of another time, what is required in utility bills (either water bills, electricity bills, phone bills or house rent receipts etc) is their compatibility with/serve as proof of the address you present in the form you are requested to fill.

Jh0wsef:
But how can you not put Okocha, a top 10 dribbler in the world of all-time in a 5man list of Africa?

No make me laugh, bros

Is Okocha a striker?