₦airaland Forum

aloyt:
Pls do you know the issuing houses for this CP and where one can invest in the Valency CP series 8; i seem not to see it anywhere else apart from getequity.
Can anyone point me pls.

The Lead Arranger is FBNQUEST Capital, the Joint Arrangers are; Cardinal Stones Partners, Coronation Merchant Bank, Greenwich Merchant Bank, Rand Merchant Bank and United Capital.

You can invest in it through any of the above. If you wish to, just Google any of them and you will see their contact address.

sky404:
They are asking for my BVN,
is it safe

It's a financial institution app. You must provide some knowledge your customer (KYC) details. So yes it is safe.

jayce232:
I'm trying to download the fbnquest app on play store to register & I'm seeing fbn edge. Is it same thing? Anyone else using fbnquest should kindly respond to this. Thanks

Yes. FBN edge is the app for FBN Assets management.

Ok. Afex fair Trade Limited (AFTL) just defaulted in paying investors the process of their investment.

They were supposed to pay on Friday 7/2/2025 but did not pay the investors instead they promised to pay on 17/2/2025 and that also is still not sure.

Their excuse was that they have a running battle with their bankers (GTB) and that affected the payment. Whatever the issue, I feel they should have tried to resolve it before hand as this may affect investors trust in them.

sky404:
Pls,
Do they have a Branch office in Abuja??
I mean FBN Quest??

cos I'm interested

Yes, Their office is around MTN HQ in Maitama beside Falana Law Chambers.

faithest1:
Good day All

Please kindly advise on what best step to take on this matter. I woke up to the alert that a huge sum was deposited into my account and several other debits of the money happened shortly after. This also happened some months ago which I went to the bank to report and asked them not to use my account for whatever transaction I don't understand. They claimed it was a mistake. Today again similar thing happened and I want to know the best steps I could take to handle this . I have all the evidence of credit and debits.

Send an official mail to your bank expressing your displeasure at their actions. Make sure you remind them in the mail that it happened before and they told you it was a mistake and it is happening again and that you are not comfortable with it.

Make sure you copy that mail to CBN and EFCC. That will be your own defence if anything.

If they mistakenly posted money on your account why wouldn't they debit same as it entered. What the rational of them debiting it gradually. Make person no go use your account commit any fraud or crime ooo.

RayRay06677:
You cannot pay upfront and reinvest same interest.

When was this instruction given, if failed bid, it will remain unchanged.

The masters can add more insight

I think that's where the issue is.

What is obtainable that I know of is to ask them to reinvest the interest with principal at the initial point of subscription. However telling them to reinvest upfront after it's paid will mean them investing the principal in the primary market and maybe reinvest the interest in secondary market or in the next auction.

That said, I have always adviced like @enque said above that whenever one is in doubt, the best thing to do is to request for the certificate/proof of investment. Which is what carries all the terms of your contract with them. Infact even if you are not in doubt, you need to have it. So he should ask for it.

Kindheartedd:
Thanks. But does fixed deposit provide more interest?

Seriously, I am just learning about all these things now, I usually just leave money in my account without investing it. That's crazy.

Nope. It just benefits them (The banks) more. They will not give the rate that TB will give you. Also, whatever rate given to you by the bank must be taxed by them.

With Fixed Deposits, your money is stable with the banks to do their business within that tenure so they prefer it to TB.

Kindheartedd:
What could have gone wrong?

So I have two accounts, I decided to do TB with one bank and I contacted my account officer, after back n forth with sending the instructions, he was confirming the receipt of my email all along, but when I finally sent an instruction to go ahead with the tb transactions, he said he never received my email. I checked my email metadata and it was confirmed he received and read the email. Why do you all think he doesn't want to help me do the tbill investment?

I have moved the funds from the account to another one and the account officer helped me the same day I showed interest, she sent the rate and i sent my instructions and it was done. Till now, I am wondering why the other bank guy denied seeing my email and never burdened.

Can someone hint me?

Like someone said above, you have done the right thing. Thank God you have 2 accounts, the initiative and swiftness to do that.

The problem actually is that some accounts officers need your money always to remain in your account for them to meet personal targets set for them by the bank. They also prefer that you should do a fixed/term deposit with them too instead of moving the money to TB. So when it comes to TB, they try to frustrate your efforts so that the money can remain there.

Allboiz:
While trying to go through Tbills on the app, I observed they won't pay you an upfront interest. Any info about this?

I don't know why they designed it that way. However, it's simple Just calculate it yourself and remove what's to be the upfront.

Personally I like it that way. It's a form of reinvestment of interest with the investment and it will make you get exact yield.

koreanlord:
wow...looks good...I just checked now

That means we can now DIY the secondary market without having to visit the bank..

Yes ooo.

Allboiz:
Can't validate OTP to login here. It keeps showing errors.
.
.
.

Now working. I had to switch to desktop view.

It may be your network or your browser. It one hand with the OTP when I tried it.

Nakedman:
I got the information in my mail but taking patience to see if anyone is using it yet. That's a good step forward from stannic ibtc

Yes. They sent the message to all their existing customers. All existing Asset Management customer can log in with their details without creating new account.

It just came on board so you may not find users immediately. For now (as at last night) it's only 3 TB's offers that's displayed there. Then you also access your existing Mutual Funds and subscribe new ones from there.

Stanbic IBTC has just introduced a DIY platform (a website called blunest(dot)stanbicibtcassetmanagement(dot)com) where you can invest in Mutual Funds, TB, CP, local and foreign bonds when and where available. You guys should look out for it.

dammybrite:
Standard Chartered allows you to do that for secondary market TB

Yeah, it skipped my memory.

Youngzedd:
Which top commercial is good for TBill?


First Bank want me to visit the branch which I don't have the time.

I don't know any commercial bank that will allow you do TB without visiting a branch sha. Except you have a very very cordial relationship with you account/relationship manager who can take care of sending you the forms to fill and send back or you you are in diaspora.

ndept:
You are right on the bolded. I am very sure the guy would come back here and complain about the next broker he is running to. Morgan capital is a reliable broker that most people are using here. He would have sort the differences out with them patiently.

It's likely his network that messed everything up. It happens like that lots of time. That's why some people will sometimes complain that Itrade is down on their side whereas it is working.

Also, there is this anxiety that comes with trying news without prior experience especially if you don't get it right and money is involved.

If not, Morgan Capital has actually been a fair broker we wey get Cashcraft experience know. Also, the amount of efforts I put in trying to open one at Stanbic IBTC to no avail till after about 3 months.

Allboiz:
I saw this
Then it's also stated that asset risk is low

Yes, with the screenshot you posted, the risk is low.

Allboiz:
Please what's your thoughts on this Unitedcapitals stable income fund at 30.89%? Hope the risk is low.

Check the "underlying assets" of the fund. Meaning check what the money is being invested in. I have never notice it or looked for it before so I can say.

manwomanok:
Bosses in the house doesn't look at my side this time. I am newbie on Bond investment, don't want to call my broker and ague blindly the reason I brough this for an insight

the gist was I asked my broker to buy me Bond worth of 20m , got a reply that they have only 18m worth, I gave the go ahead

with what I have been learning here It look something is not right, may be an error or something.  my reason of coming to my Bosses to shed more light.

You have already bought na wetin you want argue for again again.?

It doesn't look bad, sha.

What's the rate?

emmanuelewumi:
What I have realized among real estate marketers is that they always go personal and become aggressive when informed investors start asking them probing questions

Not only real estate ooo, even Ponzi marketers and some monkey hunters in stock market. That's why anytime I see aggressive attacks on your comments, instead of the marketers to objectively defend their own position. I take very seriously interest in your position.

RonuMiscreant:
is this for stanbic Mmf?

Yes it is.

Neurotika:
Have you reached out to them to address the issue? Mine is a bit complicated, and I’m not satisfied with the explanation they gave then. I noticed my balance stagnated for several weeks in November, but then it increased significantly at the end of the month. However, it reverted back to its previous state shortly after. They stated it was a system error, yet the same thing happened again yesterday. I suspect that the system didn't apply interest during those days, which is why my balance keeps normalizing and reverting at the end of each month. But they won’t admit that. The difference is over 500k.

They did the same thing to me last year December ending to January beginning (This same period yours is happening) even when I was regularly checking my account. Infact I had a lot of back and forth with them that resulted in them sending me my entire account statement right from when I opened the account to try and convince me but they couldn't because that same thing made them alter how my statement is displayed on the app.

At the end, they'll still have their way after trying to convince or confuse you to believe nothing was wrong. Even though you clearly see that something is not right. Since then, I try to check my account daily and thank God it didn't happen this year because I already have all my evidence might have done more than just complaining to them this time. I kept downloading my statements and screenshoting my balances at intervals incase it reoccur.

I wonder why their system errors only happens to some selected accounts every December sha.

BolaAdetoro:
Goód morning.

Again, the stanbicmutualfunds top up I didn't since 27rh hasn't been credited still.

I want to stop stressing over this issue as it's beginning to frustrate me. I've sent a mail to frontdest but no responses yet.

Do you think it's a network issue or because I paid using opay; so I can avoid this mistake in future. This is the first time I'm paying with opay.

For what it's worth, please avoid using Opay to pay them. I have tried it like 3 times and it was all issues and back and forth before I could get them to credit my account. I have to mail and call their customer care severally on each occasion before they were able to do it. Their claims was that the money enter their account without narration even though I clearly wrote my account number and the receipt Opay gave clearly carried it.

Just use other commercial banks like GTB, Stanbic and co. Recently I try to use First Bank too but it will not go but only display error messages

Presco is looking for money to fund Ghana acquisition. Shebi na wetin no make them pay interim dividend... Abi na to add to that one

ernie4life:
Dangote Cement CP is out with a yield of 28.5% to 30%.

Will close by Thursday this week.

Why is it so difficult for CP investment notice to carry the exact tax & percentage to pay if taxes applies, instead of always writing "applicable taxes shall apply".

Pete002:
good morning everyone,
please who has an update on the 1-3 UCAP reconstruction, I have seen the price change but the quantity of shares held is still the same.Thanks

It has since been distributed. It's actually 2 for 1 not 1 for 3. Request for your CSCS from your broker. The actual amount will reflect there. After that, then you will ask them (Your Broker) to credit you properly

manwomanok:
Security -- 19.89% May 2033
Bid Price -- 94.94
Offer price - 98.64
Bid yield - -21.18
Offer yield -- 20.21

my good people of this house, kindly help me with your wealth of experience to calculate roughly interest to pay base on this FGN Bond information above. what is clean price plus accrued interest.

Note: amount plan to invest is N20m

Thank you

It's roughly about 2M - N2.1M every 6 months (roughly 4M - 4.200) yearly till it matures. The main determinant actually is the settlement price which you will know only after you have subscribed.

Clean price is the bonds' actual price without an accrued interest while the dirty price is the price of the bond with accrued interest. If you subscribe immediately after they just paid interest, you are likely buying at a clean price but if you subscribe after a while after or close to when they are about to pay interest, the interest will be calculated into your investment because you are going to collect that interest for that half year even though you haven't held the investment from when it started accruing. So that's the dirty price.

Babtunz:
Hello all,

Please how do you normally fund your Stanbic MMF?

I found this (see attached image) on their website, but it looks weird to me that the receiving bank is UBA.

I transfer to that same account when funding. I alo ensure that I write my account number on the narration,remark or reason for payment column so , there's nothing weird there.

Infact that's how all much funds collection accounts are.

Flourmill done settle people ooo.

jideflash:
Those guys are for-hire shareholders, coming for free food, and goody bag.

Very correct. The first AGM I attended offline was that of UBA and Transcorp this year because I was in the City where it was done then. Since then, I have watched several AGM online. In all of those AGM's, I can count at least 10 people in this Oando that were also present. Infact, it was shocking to me that After the UBA and Transcorp AGM in Abuja, the next day was another AGM I think Dangote or so and all of them were still present there.

All they do is hail and sing praises of Board members except any of the board members or CEO's (in case of a group that houses more companies) that does not do give away to them. They also try to distort any shareholder that may want to ask any reasonable/critical questions.

supereagle:
What happened to my stocks there?

It's not gone. Just open an account with another active broker and request for share from cash craft to that new broker/account through the broker. It will be done at a fee. Not much sha.

Hope say you get evidence of the shares like CSCS statement show for it. If not, you can either contact CSCS to help you with that for a fee or ask you new broker to do a global search for it.