₦airaland Forum

Spot on

PierreDeFermath:
life us so unfair o. anybody that says there is a balance is lying. just do what you gotta do to secure great future for your children.

Got debited with 4th auction with stanbic

364 days 15.72%

I was debited next day

Hello bro
I was a victim of that same method at Ibadan Skye bank An elderly man approached that he needed to take money out for his treatment, he tried to use the ATM card in my presence and notice the card was not working. During my turn he ask me if he can transfer money to my acct and help him to take out.. I told him he can transfer the money to my acct but let me withdraw from my personal money alas! Right there he made a transfer and receive alert show my name and amount debited he even ask me to collect his number for any problem.
My broda till today no money enter my account but an elderly man for goodness sake. I have move on from that experience but never never accept anyone to use your account or transfer money inside. Maybe my account would have been frozen too, I never receive the amount transfer for the useless old man. It's happened at Skye bank gate Ibadan. Sorry for the stress you pass through. I give up on naija ooo

ofedegbe:
it was during the first week of june, i went to the ATM to make withdrawal.. As usual it was a very long queue. A middleaged man approached me to help him withdraw cash by transferring cash to my account. I agreed to help him due to his urgency. I never knew he used a stolen card! This has been given serious concern and its d reason why i brought d issue so as to know what to do...

Salary credits? Please did you mean monthly salary deposited to the account?

FrontPageLawyer:
There is no specific amount required. An acceptable bank statement must have up to three months transaction records demonstrating your income from a verifiable source and it must have enough fund to cover your trip, and also; it must have enough balance to keep you going after the trip.

You must satisfy the visa officer that you have sufficient personal and economic circumstances in your home country. In making this assessment, the officer may consider your stated employment, length of employment and income.

Most importantly the visa officer may wish to see your bank statement showing salary credits. If your bank statement does not show salary credits, this may cast doubt.

Lufthansa and Turkish, but you might consider others.

Funny but cool post...Keep it up

ActionsShure:
Better.
Ask yourself what u benefit as a nigerian.
U pay bills
Build your own house
Buy your own car
Dig your own borehole
You provide electricity
Make buglary for your home
I mean u r d govt of yoursef
Fuckin useless country

i wonder oooo bro na damn Tab...Lol

eluquenson:
It simply a Tab, not an ATM machine.

Mods are on high oshogbo weed for pushing this trash to FP

Good day Madam Rita2210

The response you gave is "general perception" while other posted mention "Reality or Malaysia Perception". That is the way it is no two way about it..If you are coming to Malaysia and you will be getting your allawi ( allowance) from Nigeria then Malaysia QR is very good. if you are thinking of working and study please ignore this page. find other countries you can just that. my two cent.

Before you say more i lived 10 year in Malaysia.

rita2210:
If you don't know what you're saying, don't talk, stop misleading people. It's the same thing that happens in every country, let's say a malaysian comes to nigeria to study at unilag and a nigerian went to America to study, if the two apply for a job in nigeria who do you think they'll choose, it's the same thing as us going to their country to study and someone from their country that went to America to study, they'll obviously choose their people. You also talked about the rankings of university, I've done my research and according to times higher education world university rankings, more than 5 malaysian universities are there and only one nigerian university in the whole world (university of ibadan) you're complaining that malaysian universities are not part of top 200, do you know how many universities are in America or UK, even in the whole of Europe and you expect malaysia to be part of top 200, there are even some countries that are not even part of top universities , are you not nigerian, only one university from our country and its at eight hundred and something, so why are you complaining about another country and in malaysia you're only allowed to work during the holidays, that is why you must have enough funds before you get there because they won't allow you work during the semester. And you're allowed to work as a cleaner or waiter but not as a cashier. I don't know but maybe you were just unlucky because I know people who are living comfortably in malaysia they still face racism once in a while but it's already normal to them it's not something you can change, racism is everywhere you cant just wake up one morning and racism will be gone. And the downside is that you can't really hold high posts in your work place in malaysia. If you go to an accredited school in malaysia and come out with a very very very good result, believe it or not you'll be successful, the only thing you'll be having problems with is racism, that's all, some of the Malaysians will even envy you because someone that's not from their country is doing what they can't do, they'll respect you because even with all the racism you faced you still came out successful. So please stop discouraging people, because you had a bad experience doesn't mean everyone will follow suit. I'm sure because of what you said most people have given up. Malaysia is a very good place to study, but if you feel it's not the right place for you, you can always change location, you can even bring your degree back to nigeria and many people will want you to work with them because you studied somewhere other than nigeria

Naija babes dem no dey carry last sha...Lol

JamieNaijaTeam:
Nigerian Cinematographer, Kemi Adetiba shared a picture for British Boxer of Nigeria descent, Anthony Joshua after he was called out by fellow boxer, Amir Khan for cheating with his wife.

Anthony pointed out that he likes his women BBW, and it seems Kemi thinks she fits the description.

Go Girl.

NEWS VIA: http://www.jamienaija.com/2017/08/kemi-adetiba-shares-hot-picture-to.html

Share the info here so everyone will benefit and you should know private message will not benefit anyone.

Justice96:
Secondly if anyone needs advice on Norway Schengen tourist visa just hint me am not an agent or working with any travel company but since I applied for Norway tourist visa have been able to gain some experience and gain major knowledge of their requirements

Very good idea for instance for my site I bought tank first after foundation it's was stolen. My site supervisor advice we should dig soak away and use the sand to fill up the foundation and still have free water anytime raining bricklayers no need to buy water. The soak away serve 2 purpose sand for sand fill of foundation still have free water anytime rain fall. Cost saving yes.

akinolaolujide:
Very good idea

Simple and straightforward...

inze:
. . . Your interest has already been paid to you. That's the difference between your initial 500 and 407. At end of tenor, you'll receive 500k.

The thread should be online now.

tifany89:
Okay true that but they will meet their waterloo one way or the other. At times d way dey act with impunity u will be wondering if they are bigger than the force

Hello bro
My brother confirm the installed android working fine and really like your promptness and dedication. Initially my brother was sceptical of sending money in advance and assure him to send that if anything happen will refund the 100k back but my oga fogman Don finish the installation self and everything both agree on work fine.

I don't give rating but not easy to find honest man expecially pay in advance kind of arrangement.

Oga fog u do well.


[quote author=Fogman post=56104360][/quote]

Depend on the auction date,kindly direct your question to unite4real and other brothers to help you.

enomakos:
what is the rate of FGN BOND

The new FGN SAVING BOND rate is low 13.5@% let hope the rate will come close to FGN BOND.

9jaflave:
Nigeria Stops Sale Of Treasury Bills To Anyone Who Doesn’t Have N50 million

http://nairametrics.com/nigeria-launches-fgn-bonds-stops-sale-of-treasury-bills-to-anyone-who-doesnt-have-n50-million/

Nigeria Stops Sale Of Treasury Bills To Anyone Who Doesn’t Have N50 million
ugodre Nairametrics MARCH 1, 2017
Nairametrics| The Federal Government announced on Tuesday that it will no longer be selling Treasury Bills to retail investors. In what it called a “New Market Structure” the Debt Management Office (DMO) said the minimum amount that can be used to invest directly in Treasury Bills is now N50, 001,000. This effectively puts it out of the reach of retail investors.

Implication

This means that anyone who wishes to buy Treasury Bills but does not have up to N50 million must buy through a bank in the secondary market. The major difference now is that; you are now at the mercy of a bank and may have to collect lower yields. Treasury Bills yields have sky rocketed of late, trading for as high as 20% for a one year yield. It is unclear if the rate you get at a secondary market will be the same as what you get in a primary market. Banks, who have complained about the effect of high yield Treasury Bills on getting cheaper deposits, will breathe an air of respite as retail investors will be marketed fixed deposits and other bank products which hitherto could not compete with Treasury Bills.

Why this change

The DMO in a publication in the papers explained that it had introduced a new Market Structure since it has now introduced what it calls FGN Savings Bonds. The FGN Savings Bond, unlike Treasury Bills and FGN Bonds, will have a tenor of 2-3 years and quarterly interest rates. Treasury Bills have a tenor of 91 days, 182 days and 364 days respectively. Each tenor comes with an interest calculated per annum. FGN Bonds are as high as 10 years.

So apparently, the government is inadvertently rerouting retail investments in Treasury Bills to its FGN savings bonds program, freeing up short term T-bills for commercial banks. The new FGN Savings bonds can be bought for as low as N5,000 in multiples of N1,000.

Cool

quote author=X21 post=55784090]

I hope below helps

A B C D E
yrs principal intrest rate intrest B+D
1 3,000,000 15.5% 465,000.00 3,465,000
2 3,465,000 15.5% 537,075.00 4,002,075
3 4,002,075 15.5% 620,321.63 4,622,397
4 4,622,397 15.5% 716,471.48 5,338,868
5 5,338,868 15.5% 827,524.56 6,166,393
6 6,166,393 15.5% 955,790.86 7,122,184
7 7,122,184 15.5% 1,103,938.45 8,226,122
8 8,226,122 15.5% 1,275,048.90 9,501,171
9 9,501,171 15.5% 1,472,681.48 10,973,852
10 10,973,852 15.5% 1,700,947.11 12,674,799
11 12,674,799 15.5% 1,964,593.92 14,639,393
12 14,639,393 15.5% 2,269,105.98 16,908,499[/quote]

Hello
FGN SAVING BOND was deal with from previous post you can start reading from page 270 to get more information u needed.

Unite4real and AwesomeJ can still help you.

deepwater:
Greetings house.
Good job you guys are doing here.
Please can someone kindly explain this to me:
The new FG saving bond says 13% interest on principal to be paid quarterly.
Does this means that one will get 13% of his / her investment every 3 months Or the 13% interest would be divided by 4 and the resultant would be paid quarterly?

Also can we throw some more lights on the FG Savings bond for me and my humble learners in the house.

Happy eEaster guys!!!
If person read this whole thread e go just be like small guru in investment matter.

Great job guys
I appreciate you all

Thank you very much my oga Unite4real God bless you....I actually check with gtb they refer me to this company Datamaxregistrars for any information about FGN BOND. I was told they will answer my query regard bond.

Datamaxregistrar serve has registrar for gtb

unite4real:
Access bank and GTBANK

Pls which of the bank do you purchase FGN BOND through them......Thanks

unite4real:
It may not be much. If you want to have an idea of the rate of the savings bond, keep an eye on the 3 months Treasury bills. It will just be around it. This is because the payment is quarterly which is like buying 3 months bills and reinvesting. The highest the savings bond will go is to catch up with rate for 91 day TB.

funny bro

agbangam:
Even satan sef dey fear our greedy elite cos dem fit loot d fire wey dey hell fire

Access bank plc

Dear xxxx



Thank you for taking the time to write us.

Please be informed that the Federal Government conducts a primary auction on bond once every month in which they usually issue 5, 10 and 20 year maturity investments. Minimum amount for is N100, 000.00, there’s no maximum amount.

Kindly note we have a rate of return of 13.5% on an investment volume of 200,000,000 for a period of 363days for treasury bills and the minimum amount is N100,000.

However, you are required to have an account with us to enable you invest.







FBN Merchant Bank Limited.


Dear xxxxx


Further to your enquiry regarding investment opportunities with FBN Merchant Bank Limited, We offer and deliver a broad range of financial solutions, to meet the unique, wide and varying circumstances and desires of our clients.



Our minimum investment amount for FGN bond/Treasury bills (Primary Market) is N50,001,000.00 (Fifty Million Naira Only) and the rate offering is as announced by CBN at the end of the auction while our minimum investment amount for treasury Bills/bonds in our portfolio (Secondary Market) is N1,000,000.00 (One Million Naira Only) and the rate offering for secondary market is dependent on the tenor and the amount to be invested





Diamond bank

Dear xxxxxx
Thank you for your mail

Sequel to your enquiry, please note that we facilitate investment in Treasury Bills instruments issued at a discount by the Central Bank of Nigeria (CBN) on behalf of the Federal Government.

The minimum investment in Treasury Bills is N1,000, 000 and a charge of 0.25% applies.

Please find the procedure below for investing/bidding for treasury bills through Diamond bank at the auction;

· CBN Treasury bill auctions are done biweekly.

· The duly signed investment instruction should be submitted through your account officer

· The bid request must state clearly the tenor (e.g. 91,182 or 364 day bills) , bid rate (prevailing market rate),

· Your account must be funded before the auction bid request will be submitted to CBN.

· The Treasury bill is credited to DB PLC’ Bills Portfolio with CBN upon successful purchase.

· There is a service charge of 0.125% on the principal amount, factoring the tenor of the investment

· Interest is earned upfront (issued at a discount to face value) Please find below treasury bills tenor and rates available for 7th April, 2017.

Tenor of 91 days has an interest rate of 13% with a maturity date of 6th July 2017.
Tenor of 182 days has an interest rate of 16.50% with a maturity date of 5th October 2017.
Tenor of 364 days has an interest rate of 17.50% with a maturity date of 5th April 2018.






First bank plc
Thank you for contacting FirstContact.

Treasury bill is an investment instrument managed by the Federal Government of Nigeria through the CBN.

Auctions are held every Wednesday forthnight.
Minimum Investment amount is N100,000 and application request must be submitted on Monday preceding the Auction date.
While for bonds, minimum amount that could be invested is N10, 000.00.
Currently, FGN bonds have original tenors of 3, 5, 7, 10 and 20 years.
However, bonds can also be gotten with lesser tenors in the secondary market through First Bank.

Pls note the email was posted here for newbie who need to know bank minimum amount needed for investment.

I have email all the bank you listed and waiting for their response which will be on Monday working hours. I will update the info regarding each banks.

Note: zenith bank have auction open 19th April anyone have account with them can confirm again.

awesomeJ:
I just contacted FSDH, they confirmed the availability of the new APR 2037 bond next week, but they said you'll need an account with them to bid through them, and you need a minimum of 50 mills to open an account with them. Check out the other PDMMs here, then try contacting some of them to see who helps.

Funny bro

Kenshiiii:
The developers from the land of the rising Mark Nsukabags are already crying on the thread as usual

Oya e gba biscuit

https://imgur.com/FBjKxob.gif

Oga AwesomeJ from this message does its mean one can only invest in FGN BOND with 50million minimum.

awesomeJ:
I just contacted FSDH, they confirmed the availability of the new APR 2037 bond next week, but they said you'll need an account with them to bid through them, and you need a minimum of 50 mills to open an account with them. Check out the other PDMMs here, then try contacting some of them to see who helps.

I am not sure the minimum is 50million maybe to buy from primary market well let my ogas tell us more and remember oga Unite4real investment amount not up to 50million.

battleaxe:
Note that the minimum investment amount on FGN bonds is 50,001,000.

Not sure if the banks have found a way around that as well for their customers.

My oga AwesomeJ and Unite4real I salute una and God bless una for me. Nice one

awesomeJ:
The next auction after April 12 is May 10, that's if you must buy at the primary market. The available bonds for this quarter are 14.50 FGN JUL 2021, 16.2884 FGN MAR 2027, and FGN APR 2037. You will choose whichever of these 3 you want. They will all be reopening bonds after Apr 12. Each bond is referenced by the names listed above.

Thank you my good people and God bless for taken your time to explain really appreciate will get in touch with my bank. Before May 10


Thanks a lot

unite4real:
I guess gentlemate00 has done a lot of explaining on this. However if you were referring to FGN bonds and FGN Savings bond when you requested to know how to explain that to your bank; Do know that commercial banks don't deal on the savings bond, only authorized stockbrokers do. I don't need to flog anything further. You have gotten enough information.

Thank very much and everything noted not sure I can meet up for the April 12 due distance at the moment.Again how do I explain it to my bank the type bond needed. Both are bond from FG.

awesomeJ:
At a yield of 17%, a 14million naira investment would earn you
NGN1,190,000.00 every six month throughout the lifetime of the bond. Not all bonds have coupon payments made in Feb and August, Unite4real's coupons come in in those months because the bond is a Feb 2020 bond. The new 20 year bond on offer on April 12 is an April 2037 bond, so if you buy this one, your coupon payments would be made every April and October till your grandson gets married.
The FGN savings bond is also issued by the DMO. It's a new bond type they just came up with for whatever reasons. They have structured it to be different from the conventional FGN bond. The basic differences are that it has a shorter tenor of 2&3 years, whereas traditional bonds typically have tenors of 5,10 and 20 years. This short tenor is perhaps the reason for the second difference which is that its coupons are paid every quarter rather that semiannually. One of its pros over the normal bonds is that you don't have to lock down your funds for too long, whereas its cons include the fact that it has a lower yield.
I think if you make up your mind today, you should approach your bank tomorrow so your application would make the upcoming bond auction scheduled for next Wednesday.

awesomeJ:
Like Unite4real mentioned, when you're buying a reopening bond, the coupon rate is already fixed, and what you bid for is the yield.

If you buy a reopening bond of 14.5% at a yield of 16% say approximately 1 day after the bond issue, it implies that in a year's time 1 million naira invested at the original price is worth 1,145,000. So if it's like you bought 10,000 units at an original price of 100, with each having a future value of 114.5, now when the yield becomes, 16%, the future value of each bond unit still remains as 114.5 because the coupon rate is fixed, hence for your 1 million to become 1,160,000 after one year, it means it is buying more than 10,000 units of the bond today. the exact number of units would be 10,131 gotten by dividing 1,160,000 by 114.5, and the price you pay for each unit of the bond today would be about 98.71 i.e 1,000,000/10131. There are other factors that determine bond yield/price, a major one is the time interval between when you're buying the bond, and the date of the next coupon payment.

Basically, all you need to determine your returns on a bond investment is the yield. The yield is the same as the coupon rate if it's a new issue, otherwise, the yield is quoted for you to know.
So if you put 14 million into a bond investment with a 14.5% yield, you will get returns of 1,015,000 every six months throughout the lifetime of the bond.

Every 6month that is for FGN BOND because it's has coupon payment February and August according to my oga Unite4real.

Thanks

Let assume I want to invest in fresh 20 year bond offers and invest 14million locked down at 17%. What is my interest or let me say what will be payment every 6month period for the total year 20.

I mean what will be my return every 6month for the said amount at the coupon rate of 17%.

Are you talking about FGN BOND OR NEW FGN SAVING BOND( manage by Debt Management Office)


Thank you

awesomeJ:
I think Unite4real is in a better position to put you through, because unlike me, he's had an experience with bonds investment.
However let me say the little I know regarding it. The DMO sells the bonds, and you can only deal with them through people they refer to as primary dealer market makers PDMMs which most commercial banks are. So you get the application form from your bank, fill it, submit, and get your account funded to the tune of the investment, because unlike t-bills, you will be debited to the full amount of the investment with no interest payment until after 6 months. To buy from the primary market, you'd have to work with the DMO's bond calendar for the quarter. However if you have enough funds(perhaps up to 100mills) you can buy on any day from brokers in the secondary market. From the current calendar, there'll be bond offers by the DMO on April 12, May 10, and Jun 21. There are 14.5% 5-year, and 16.28% 10-year bonds which are reopening 5,10-year bonds on these dates, however there's a fresh 20-year bond on offer too. For the reopening bonds, the coupons are already fixed at the indicated rates, but happenings at the bond auction determines the yield on the bond, which in effect determines how much you'll pay to buy the bond. Your returns may eventually be higher on lower than the indicated coupon rate, depending on what happens at the auction. However, for the new 20-year bond, it will only be a new issue on April 21, subsequently it becomes a reopening bond. Being a new bond issue, the coupon isn't fixed yet, so happenings at the auction will determine the coupon rate, if you decide to buy this bond, your returns will be the same as the coupon rate. Sorry for the long note. Bonds just tend to not be as simple as T-bills are. The major advantage is that you get to lock down on a high yield for long. Imagine buying a 20-year bond now at 17%, and come 2019, a new CBN Gov who happens to be an ex ECB* manager decides to enforce a single-digit interest rate regime, fixing MPR at 2%, the bond investment you make now would turn out to be one of the best investment decisions you ever make.
*European central bank.

Thank you so much for a details explanation and kudos my oga Unite4real for taking time give good input however I want to invest in bond for simple reason to have available money every 6 month in the case of FGN BOND or new FGN SAVING BOND which has 4 coupon payment in calendar hence thinking of bond pls note that Treasury bill pay interest upfront but I like something to drop like my oga Unite4real did. I need similar investment vehicle giving return every 6month or quarterly in a calendar year.

What is reopening bond? How do I know I am buying reopening bond.

Thank you

awesomeJ:
Like Unite4real mentioned, when you're buying a reopening bond, the coupon rate is already fixed, and what you bid for is the yield.

If you buy a reopening bond of 14.5% at a yield of 16% say approximately 1 day after the bond issue, it implies that in a year's time 1 million naira invested at the original price is worth 1,145,000. So if it's like you bought 10,000 units at an original price of 100, with each having a future value of 114.5, now when the yield becomes, 16%, the future value of each bond unit still remains as 114.5 because the coupon rate is fixed, hence for your 1 million to become 1,160,000 after one year, it means it is buying more than 10,000 units of the bond today. the exact number of units would be 10,131 gotten by dividing 1,160,000 by 114.5, and the price you pay for each unit of the bond today would be about 98.71 i.e 1,000,000/10131. There are other factors that determine bond yield/price, a major one is the time interval between when you're buying the bond, and the date of the next coupon payment.

Basically, all you need to determine your returns on a bond investment is the yield. The yield is the same as the coupon rate if it's a new issue, otherwise, the yield is quoted for you to know.
So if you put 14 million into a bond investment with a 14.5% yield, you will get returns of 1,015,000 every six months throughout the lifetime of the bond.