₦airaland Forum

Adiahabasi:
Good evng all. Pls when is the next auction date? Does GTB do secondary market. What if I want to liquidate a Tbill before the agreed maturity date,what do I stand to loose? Anyone with the idea of the current secondary rate with First bank? Or GTB? Thanks in advance .pls kindly answer the questions of a jjc

According to the third quarter calendar posted above it is on the 15/06/2017. It means you will have to go to your bank between 12-13/06 to make the request if you intend to go for primary market. However, if you wish to buy through secondary market you can check the bank weekday. I was with FBN and was told that rates for secondary market comes every morning. Today's rate mayb different from tomorrow so you just have to go and confirm for yourself any day you are ready. They had different rates for different tenure. If you intend to liquidate before maturity you stand the change of loosing part of your expected principal as the interest was already paid upfront.

That moment when you buy fidelity @ 1.42 thinking its heading KM 2 only to see it trading @1.23 with @ possibility of it trading lower 24hrs later.

yanmiri:
Care to mention some of the undervalued stocks please?

for stock matters u should visit:
https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/2330#1131485.74574

so as not not to derail this thread

awesomeJ:
Augusto & Co, is perhaps the most notable rating agency in the country, so with an A+ rating from them, I guess you can rest all fears regarding these papers. More so, a tier 1 bank like Access is capable of handling cashflow issues better than say a manufacturing company like Guinness, which offered similar papers last year.
I leave the decision to my fund managers, I hope they buy much of it so I can start getting yields in excess of 19% soon.

Hope its not the kind of rating that Intercontinental and and Oceanic bank use to have back then. Their interest rate looks cool anyway. You should just sample it and let the house ur findings.

Cation:
Good evening my ogas in the house. What rate do u think will be good for 364days treasury bill auction holding on 31st May 2017.

You will only have the opportunity to bid for yourselves in primary market these days if the money you intend to invest is up to 50 million if not. You will have to go with whatever the bank you use decides to offer cos are not in a position to bid.

deepwater:
still asking? What is the % bank charges with stanbic IBTC
someone should help by replying, please. biko

Though, the one below is for First Bank. Most banks charges are alike.

Commission -- 0.125%

Custody Fee -- 0.10% per transaction (per investment)

Transaction Fee -- ₦100.00 per transaction (per investment)

VAT -- 5% VAT on Commission, Custody Fee and Transaction Fees

Because some of you are still looking for who to dupe...you will not see where he said his brother absconded on asking for the money. You will still not see where he wrote that it took SARS about 5months to get his brother.

Op sorry, it has happened. Even if he had told you early, you would not have done more because the money was already gone. Just find a place in your heart and forgive him.

I believe you have learnt some lessons from the situation. Since he is looking for fast money without root he is definitely fall for scam. Henceforth do not leave any money you can't dash him in his custody

If you allow nature to take its course and do what is expected of you as a corp member when you are serving there is no way you will finish NYSC without contributing anything or enjoying it.

Yes it is not a perfect scheme. Lot of things would have changed from the way it was at inception but it is still very useful in fostering National Unity.

The problem with it is that Corp Members most often lobby their way to cities forgetting that majority of them would want same in the end, the city is jamb packed. The government is more focused on developing the cities and most time the villages and suburbs are left to suffer so Corp members should endeavor to go there and contribute to the economy they serve through meaningful Community Development Service projects.

Also lots of corp members do not want to leave their state of origin for fear of unknown. For God sake you finished your primary, secondary and tertiary education in a particular state or geopolitical zone you would still lobby to serve in that same area. Why can't you give yourself an opportunity to know other parts of the country better. Education involves travelling too. let you case not be like the case of my friend Emeka that thinks everybody that doesn't speak Igbo is Hausa.

Most times some of the corp member come with an already designed mind of what they want/expect from the scheme any other thing apart from that to them is nothing. It should not be so. You should be able to adapt to situations as they present themselves.


NYSC is a service Scheme and not a getting scheme. It is designed for National Integration, Fostering of National Unity and Service to Father land. Though it is expected that as you are serving you will get to blend with your with the people in the area you serve, know their culture, affect the community positively and in the process you enjoy yourself and gain some experience for your future endeavor. It not a promise of 1 year holiday/money making scheme.

bobbyL:
Thank you. Yes it helps. I think Morgan Capital charges 0.25% but I came across some posts saying there are other hidden charges.

I am not really a JIJO person. I don't intend to use signals or indicators per se. More of fundamentals, that's why I need a reliable broker that I can also use their reports. From what I have seen so far, I really like FSDH‘s analyst reports.

Will check ARM's charges. Thanks again.

Morgan charges a yearly access fee of N2500. if peradventure you do not have that amount left in your account with them by the beginning of that year, your access to the online platform will be block. even if they do not allow you trade that whole year it will still be still be debited when ever you intend to trade. I do not know if other stock bricking firm with online access operate that way too.
I know that with other analog brokers like cashcraft and co its only their stated charges at point of purchase or sale that they deduct. Most times money left in your account with unspent generate interest.

chukzyfcbb:
with the way secondary market is discusses here, one could think that he/she could just walk up to any bank ask for rates and invest right away. But in reality, the opposite is in play.
Visited FBN and asked about thier secondary market, I was made to know that it depends on what was available as at the time and not what I had to offer that mattered....The FBN staff looked at his PC and said for example that there is market for 3million at so so rate, so if I had 100k for example, it means I can't invest because I can't match that 3million. so its purely based on what's available except its different from the way it's run in other banks.

Meanwhile bidding takes place on the 18th right?

It means they could have sold you 100k TB from the 3m available if you are OK with the tenure. Yes secondary market is mostly based on availability. It's not only when a customer want to resell banks buy to resell to customer at a lesser percentage to make gains.

PinocchioDMZ:
I think I will also close my accounts my Diamond bank. Please can I stop the Tbills with me and move to either GTBANK or Stanbic to treat. I don't mind the penalty for stopping the Tbills already running with them.

If you have already invested its better you just let it mature then transfer your money to any of the banks you wrote above. I believe you were already okay with the terms at the beginning so just allow it mature.
Even the closing of account I wanted Diamond the customer care transferred the issue to my account officer who is my padi and the guy prevailed on me not to close it but I have already transferred my money. So I go just leave empty account for them like that..

You never know Diamond bank infact they fit tell you later say na stamp duty. The worst bank to use for TB investment among all the banks I have used. I had to go and close the 2 accounts I operate with them early this week.

NwamaziNwaAro:

If na for Aba or Onitsha now
Police and army go arrest newspaper vendors, seize papers, shoot innocent people

But because it is in the North


It is okay to spread inciting false news.

I heard that MOPOL who threatened to kill 200 people if Buhari dies has been made an Area Commander.

Imagine that.

people like you can lie just to incite people for a reason I do not know. How possible is it for a policeman than is not even up to the rank of ASP be made an area commander? what is the difference between you and writer of the said book.

NOLONGTIN1:
Hello house,

After checking with FirstBank and Diamond Bank, the rates I was given are:

13% for 84 days - Diamond Bank

17% for 133 days - First Bank

Pls which is the best

Personally I will take the of 17% for 133 days.. the % is way better when compared.

Harkynkunle:
I got an offer of 18% with fbn @ 65days ... Secondary market.. I guess it's a good deal

This about the best rate I av seen of recent ooo

This is how you guy started initially and unsuspecting public thought you meant well for. Now majority of them understand your antics. though a few may still fall but you will never see that kind of crowd to dupe again.
Is it the Nigeria Government that told people to donate money to any random account sent to them from God knows where all because they wanted to get rich quick without doing nothing?

Congratulations Oga!!! make sure u reinvest it there to multiply....

Chelsea may not win any trophy this season..
They have Six more games to play which has a total of 18 points in it same as Tottenham and there are just 4 points ahead. Make una never make too much mouth blues..

Ojix85:
Hello guys, please I need some clarification.

How frequently are the proceeds from Stanbic IBTC MMF paid?

Since daily rates change, is my MMF account credited with the days rate at the end of the day?

Can you leverage on compound interest when investing in a mutual fund, like Stanbic MMF?

Thanks.

It is credited to your MMF account daily after the close of work but weekends it's carried over to Monday morning. If you have online access or their mobile app you can monitor online yourselves daily by 08:00pm weekdays.

The payout of interest is done on quarterly basis. You can choose if u want it reinvested or credit to the bank account you gave them.

Dear Investor

Please be reminded that the Initial Public Offer (IPO) of the Stanbic IBTC Dollar Fund (the “Fund” or “Offer”) ends on 02 November 2016.

The Fund offers the following benefits:

* Access to a broad range of US dollar denominated securities which typically some investors might not have access to, by virtue of the amount required to make such investments
* Opportunity for portfolio managers to diversify their income stream and portfolio, whilst also providing for long term capital appreciation
* Average forecast distribution yields of 6.4% over the next 4 years
* An alternative for owners of domiciliary account to gain returns on funds that would otherwise be idle
* Flexibility to invest in a portfolio of foreign denominated securities which can be redeemed partially or in full at any point in time
* At least 90% of the Fund’s income will be distributed to unit-holders
* Minimum investment of 5,000 units (i.e. US$5,000)
* Multiples of 500 units (US$500) subsequently

The Prospectus which contains detailed information on the Offer, including the application form, which can be used to subscribe for the IPO can be downloaded at STANBIC IBTC DOLLAR FUND. We hope that you will honour our invitation to participate in this Offer and we look forward to receiving your completed application form and payment for your subscription to the Offer. Your completed application form should be submitted to any branch of Stanbic IBTC Bank PLC.

Best Regards


The Fund Manager | Stanbic IBTC Asset Management Limited RC 209744 | The Wealth House | Plot 1678 Olakunle Bakare Close, Off Sanusi Fafunwa Street, Victoria Island, Lagos, Nigeria | Tel: +234 1 280 5595; 280 1266| email: mutualfunds@stanbicibtc.com | www.stanbicibtcassetmanagement.com

spiceeamiee:
Hey guys, I wanted to do Tbills primary market for 91 days with First bank last week and my account officer informed me that they were no longer doing primary market so I asked her what the rate was for secondary market for 91 days and she told me 13% and above so I told her to go ahead. A few hours later, I recieved my debit alert but the tenor on it was 98 days. The most intriguing of all was that when i got my upfront interest and calculated, I saw that they have gave me 18% at 98 days. I called my account officer and she confirmed.

I know some people will say no Bills for 98 days. Well me too did not know there was something like that and at a whopping 18%, I think its more than fair. I will try and see if i can post a screen shot of the investment

Yes that is secondary market for you. It could either go both ways...Some times higher and other times lower. The tenor/rate is dependent on what is available. Probably the 18% you got for 98 days was for a 364 customer who got @ maybe 18.5% that needs money for pressing issues or other investment.

ernie4life:
Right now I don't think there is any dollar based mutual fund yet(i stand to be corrected) but a couple of investment firms are working on it, probably by June it will be up, heard most of them are already with SEC waiting for approval.

On the contrary, right now there is a dollar based mutual fund.. called Stanbic IBTC Dollar Fund. The minimum investment for it is $5,000 on initial investment with multiples of $500 subsequently. You can just google it for more information about it.


[quote author=olandofire post=55545465]Please google Stanbic IBTC Dollar Fund.

some pple'll be thinking there are fooling other pple not knowing there are fooling themselves. how debit alert take turn credit alert naim I no come know...

Still expecting to hear from you.

Good day Land Gurus in the house,

My friend got a land in Abuja's and his agent is telling him that the No on the beacon is the Data No instead of the Plot No on the Offer letter. His agent was also saying he will pay for the authority to give the TDP paper of the land.

I do not have enough Idea about it to advise him that is why I brought it here. Pls who ever have the Idea should help him out so he will not fall into wrong hands.

Thank You

ekunade:
Does anyone have an idea of the current rate of stanbic mutual fund

Do u mean their Money Market Fund? If yes, it about 17%

Happyfellow147:
Yes, this evening from stanbic, I think about 18.3 % or so. Please what about the certificate? When can I get it

I did with them too..I think it's about 13.39%. I do not bother about going to get the cert this days since I have the transaction notice. About getting the cert (investment advise), some of the banks will call you to come for it. others won't except you go there and request for it. You can go to the branch you invested to get the certificate anytime next week.

detholar7:
Good morning house, been reading tru all the comments for a month now. Decided to invest 600k on tb for 182 days with stanbic, I got a debit alert of 548k..i don't understand this, please can someone enlighten me..thanks

I think you got a very good rate with Stanbic IBTC. The deduction there is at the rate of about 17.2 which is what CBN gave as posted above by Feelamong. The remaining balance of about 62k left in your is the interest paid upfront for your borrowing to government for 182. In 182 days time(@ maturity) your whole 600k will be credited back to your account.

Sorry I didn't memorize the charges of Ecobank. I just knew it was higher than other banks I was using. For stanbic the minimum before now .... But if you read like 10 pages backwards you will discover times have changed. but I believe it will still fly.

Majority of the response on first page got me surprised. Its a shocking discovery for me to know that majority of those ranting have never had any form of formal employment before so they do not understand how things work.


What we need to tell ourselves is the truth in order not to mislead ourselves..

For our small boy poster.. Did you bother to seek clarification on your Job Title/ Duty required of it when employed? Because that is the reason you said you left.

What was your qualification when you were appointed and what was your expectation with that qualification?


If you try to answer this question honestly by yourself you will discover that what you have to do is work had at being more qualified to get a better employment and job specification.

That said, It is a general work practice in an employment that either party should notify the other before termination or resignation from an appointment. This is usually stated in your employment letter or the condition of service of that establishment as the case may be.

Thank God it is not written in your employment letter in this case. However do you know if where you worked has a written condition of service.. Try and found out.

I also Thank God that you wrote the letter after he requested and he accepted it even without the refund he requested... Which means somehow you are through with him.

If not all the those thing there were saying will not stop police from arrested you /him getting back his money.. He may even decide to tell them you stole something and stopped coming to work just to get back at you. So work on things like this in subsequently.

However, what he can not do is coming to carry properties from your house...especially when he does not even know if you have ever contributed to buying anything in that house.. Abi na your personal house you the live? He can only take your case to your referee if he is so angered.

As for the money I believe it is already spent.. You actually worked for it..just that you did allow him to prepare for your leaving.. So I will say he just felt bad by that. All you should do is just look for maybe another senior staff in that office to go with you to his office and apologize to him. So that it would not just be that you parted ways in a wrong manner...

tundebabzy:
I did not have any issues with diamond bank when I bought my tb early this year and they got me at the exact stop rate at the time.

I will have to say you are very lucky with them. From personal experience there are the worst of all banks I have used or attempted to use. I have used GT, FBN, Stanbic, Diamond and sterling... I attempted to use UBA but the branch I would have use said my money was below their minimum. For Eco I got discouraged by their charges...

amordi:
Ya... For those of you that wants to open acct with Stanbic Ibtc, pls help a marketer to hit her target by using her code or call/chat her on 09055512504....

This marketer will have to give more info than this...Which City/branch is she operating.. ? Money is hard to come by this days and everything seem sceptical until proven otherwise..