₦airaland Forum

yemkaf:
What of united capital do they also pay the actual promised rate, because am just planing to open account with them

To be frank I am not so sure with United Capital, I didn't really monitor their actual daily rates, but I remembered comparing them with Stanbic and they had better rates.

kendsage:
FBNQUest pays exactly the rate displayed on their website on a daily basis. NO MAGOMAGO

If you know... you know!

NL1960:
Nice that you are considering investment. It is good to always start early. I would advised that you open a Money Market Fund(MMF) instead with that amount. MMF allows you to top up with any amount you have any time which TB does not allow. The only advantage TB has over it is that TBs pays interest upfront.

Very solid advice you gave that lad.

Mpeace:
I don't like buhari but his rejection of the NHF bill is highly commendable. How will the national assembly of thieves pass a law that mandates banks, insurance companies PFAs etc to donate 10% of their profit before tax to NHF? Those guys don't mean well for this country. The rejection of this bill should have an impact on the exchange. It was an issue at Fidelity Bank conference call yesterday.

Nigerian lawmakers, always looking for new ways to f*uck Nigerians over. Lol!

The debt market is oversubscribed, Fixed income yields are dropping, yet NSE is still going down. There is a reason this is happening. I was 80% sure we will get to 28K level before, now I am 90% sure.

Most of you saying bonanza will get scared by repressed repressed prices. Lol! You can't call a bull market yet. What is happening is a symptom of a particular disease in the Nigerian economy.

Mpeace:
lol. Market will bounce back sooner than you expected.

Nope. Capitulation has not started yet.

RabbiDoracle:
İt is called MONKEY MOULDİNG.

He isn't hunting anymore. He is creating monkeys with plastercine, breathes into it and the images become monkeys.

Newbies should beware.

Hahahahahahahahahahaha.

I enjoy reading your insights.

usaration:
hello,I bought 1000 shares with first registers at 33 naira per share in 2007,please how much is it worth in today's value? ..thank you

The share of what did you buy?

aremso:
when someone here was projecting N5 caverton yesterday i just dey laugh when i saw the projection! Investors sentiment over a stock must also be considered not just goodness of a stock and that is what is happening currently in caverton. Zenith is a perfect example at least the stock should be selling at 29-30 naira but investors sentiments is making the stock to be staggering all the time.

People always forget that fundamentals is good, but what you consider cheap might turn out to be expensive. There is a reason the Nigerian stock market is currently cheap, can it be cheaper? I think so. I have been of this mindset for a long time now. I could be wrong...

But I will say this again, investors be cautious...

And as for people hopping on an already moving train, be extra careful, do not follow hype! It is very important to do the opposite.

Grupo:
Hahahaha. Ogogorofreak must have taken a lot of ogogoro last night.

I thought the thread was about being turned into a charity. I was almost dropping my 'akant' number to receive my own 100k.

Chai.

Hahahahahahahahhaha

Una funny for this thread sha.

kendsage:
I clear observation of MMF rates of Stabic, Investment one, ARM and Axa shows that FBN had higher rates this quarter (from January to March 2019) averaging above 14%. I have not really monitored United capital but will do so this 2nd quarter.

United Capital rates were okay too, especially in the last month of Q1.

I will advise you all to trade with caution. There is excess liquidity, CBN is not even mopping up. Fixed income yields are dropping, but NSE still lost 1.64%.

Maybe long termers will be okay, but the short termers, be very careful.

awesomeJ:
Reserves now at $44.34bn (as at Mar 28), Brent has gained more than 2% today. it's currently trading above $69 and may cross the $70 mark before the week is out.

So, there's some pretty huge comfort for the MPC currently.
My Outlook for this quarter is for T-bills discount to be between 11.5 and 13.2% for the 364 day papers.

The only major factor that may alter the market now is if there's a change in the CBN's leadership by June.

364 days at 12.8% is 14.66% yield
182 days at 12% is 12.77% yield
and 91days at 10.5% is 10.75%

MMFs at 12.5-13% are available alternatives for the short term. Those funds locked in some instruments already at 15%, so they should be able to support their current yield levels for at least one more quarter.


Happy New month to us all, welcome to Q2.

I am looking forward to a lot of things in Q2. It will definitely be interesting.

needful:
Bro, i totally disagree with you on this one. If your analysis were right, BIAFRA would have been in existence since 1970. which income does northerners and westerners generate in Nigerate. aside lagos, where else does westerners generate money. even the lagos self are being controlled with the same igbo money. abeg make we leave this arguement. i no be igbo shaaaa, but truth must be told

And yet another person trying to impose more tribalistic sentiments in guise of quelling the argument.

Oga! Anyone who does business, whether they work for someone or it's their business generates money in one way or the other. This mentality is what is putting Nigeria in trouble, thinking that one tribe is more valuable than the other. I have done business with many people of all tribes, everyone of this people know what they want. Certain people might favor certain types of businesses, but the argument that one tribe is this or that is shortsighted. As a businessman myself, I know.

Hahahahahahahahahahahahahhahahahaha

When you advise people about something, it will seem as if you don't know what you are saying.

Now the question is, how much more stew do you need for your rice?

NL1960:
How come my own name no dey this list?. Ohhhh, I forgot. I be silent Billionaire.

Lol! Boss, can I follow you to your Kingdom?

faoogoke:
Sometimes I wonder how much tax all these guys pay. FIRS ought to have a dedicated desk to access these guys tax profile yearly.

The fact they are on Forbes actually means they pay their taxes to the T. I don't know why we are too anti-rich people, anti-corporations in Nigeria. We need this people, their businesses and corporations.

ositadima1:
Forbes 2019 top 20 richest Nigerians

1. Alikote Dangote
2. Mike Adenuga
3. Femi Otedola
4. Folorunsho Alabija
5. Theophilus Danjuma
6. Abdusalam Rabiu
7. Tony Elumelu
8. Orji Uzor Kalu
9. Jim Ovia
10. Oba Otudeko
11. Arthur Eze
12. Cletus Ibeto
13. Benedict Peters
14. Igho Sanomi
15. ABC Orjiako
16. Bode Akindele
17. Emmanuel Ojei
18. Mohammed Indimi
19. Tunde Folawiyo
20. Hakeem Belo-Osagie

Ok, now tell me how many SS and SE are on this list? Is it one or two according to you?

Boss. This will just create more tribal divide and arguments here. The truth is we can never know conclusively. Forget all this forbes list, there are rich people who are not on that list.

STNWAUME:
You forgot to add Wemabank and Uniondac

Lol!

zamirikpo:
As much as i respect u here, I must say u have made a fallacious statement by saying the north and west have all or most of the money in Nigeria.

I expected u to quell tension not fuel it. Igbos are the most industrious race in Nigeria and are spread in every part of the country even in sambisa. Respect that. Am not here to argue for or against any tribe but to appeal to u and @gonfrancess to focus on our premise. Which is investments not tribal sentiment.

Poor rates are enough headache for us now, let's not add to it. @barrytone pls. Ooh. THANK YOU.

Except you decided not to see what is on ground. I have tried to be neutral on this case as I have called out people attacking with no basis other than social media and blogs. So where I brought in problems in this thread, I really want to know. It wasn't me that started tribal bias nor did I encourage or support it, I do not appreciate you putting my name with tribal sentiment in the same sentence.

There are people here who run Tbills with GT bank, many people here actually do. So coming to tell people the institution they put their money in is fraudulent when we don't have all the facts is unfair to the businesses involved and the people with money in said banks. Nobody wants panic!

kisszhira:
He didn't say only the Igbos should move their money rather he did say that the Igbos were right after all and he's encouraging every other persons to do the same if they can.

Are you actually stating that someone who wanted to move his money from gtb after realizing that they have been stealing his money shouldn't simply because his tribesmen work there??

And about saying we should wait till next week to get the right info,which other info could be greater than supreme court judgement... Are you trying to state that it's very possible for supreme court to upturn the judgement again by next week,declare gtb non-fraudulent and ask Innoson to rather pay gtb instead of the current judgement ??. Even if this is going to be possible,as a wise investor who's into tbills abd prolly a gtb customer,won't it be better to make your decisions based on the current S/C judgement. Are you still waiting for the right information before making your decisions when the right information is very glaring -which is the S/C judgement.

So if an hausa man has issues we don't have confirmation about with a bank, it makes sense to say hausas are right to want to leave the bank?

You keep shouting Supreme Justice, I am telling you nothing has been ruled. Keep reading blogs to get your info. 8 billion naira is not enough to shake GT bank. It's as if many of you here have already judged them to be wrong. I don't run anything with them, infact it's in my best interest if they drop in share price, I will buy it cheap.

But one sided bias will not help anyone here.

ahiboilandgas:
Why didn't the ibo move their money to daimond bank to rescue it or fidelity buying it....no be their all of them they bank ...ibo like playing the ethnic victim card always and it very silly of this group ...how will a whole tribe say they want to move their accounts ...gross stupidity ....how much did innosa give u inside the loan ....when intercontinal was sieze did u hear Yoruba people treating to move account to first bank or why didn't dangote keep all his money in unity bank ....this thinking pattern is responsible for failures that why no other ethnic group build bussiness in east ....during capital oil bomb 99 percent of all staff where from the east including cleaners ,visit dangote group staff strength very diverse ....ibo majorly voted pdp ....now pdp lost they want senate president,want sgf ...want biafra ,want Lagos

Bro. In as much as I agree with your argument...

I don't think it's right lumping a whole tribe in a group. You have indirectly done the same thing he did, let us be civil and remove the bias..thanks.

Barrytone:
Internet don't forget. When the threat to move funds came up. I never supported it. I am only saying I support them now and expect all thinking persons to do same now that Supreme Court has taken their stance making GTB fraudulent as they are. In sane clime, me and you would pull out our funds and not only igbos.integrity is sacred and should never be toiled with especially close to financial issues. Fortunately, no igbo person is in the discuss yet you are still attacking them, I am ibibio, a very proud ibibio man at that. Am not and will not be tribal but stating the obvious. GTB is fraud according to Supreme Court, argue with me if you have another judgement exonerating them. Don't care who owns it or which tribes are it's customers, they are simply fraudulent and so it remains.

Do you also support the Igbo employees of GT bank to leave too? Since we are using the tribal card. If you want customers of a certain tribe to leave, then by all means employees and shareholders should leave also.

If a bank is fraudulent, by all means we will pull out our funds. I am telling you right now you made a mistake with your statement earlier. If you had said we would move our funds, we as Nigerians as people who want to protect their money, fine, but you mentioned just 1 tribe, hence I was correcting you on that. I will be addressing someone else soon, but it's your fault. Your statement made him come out to say what he is saying.

Tabuse20:
I believe we are all educated and civil minded people. It is interesting to note that when this topic was briefly raised in the stock market thread, it did not raise any emotions. Unless there is another authority greater than the supreme court, gtb will pay innoson. Whether rag tag assembly plant or alaba trader, it makes little difference, our great forbes billionaires like dangote, adenuga etc also owe. You all both shared information from both parties - gtb's statement via proshare, and sahara reporters as well as innoson's take. What we should have been discussing here, as we have often done in the past is how more people should start holding our banks accountable for fraudulent acts.

God bless us all.

Hence the problem. Was any fraudulent act actually committed?

By GT's account, there wasn't. We should all hold banks accountable, but when people begin to bring in all forms of sentiments and discrimination, all I smell is smear campaign and BS! That is what I am questioning. Why the tribal inference?

Let us see how this will play out. If GT bank will pay Innoson, we will here if they don't, we will still be here.

Barrytone:
Now I know I actually know nothing, please can you all help me out here. So is innoson going to pay GTB, what was Supreme Court verdict. Is GTB right or wrong based on Supreme Court judgement. Is the aforementioned payment as a result of GTB's uprightness or dubious dealings. I want to unlearn the little Iearnt. The last time I checked, we had a kidnapper with billions in his account. A thief is a thief, no matter how worth.

The problem is GT banks side is quite logical and self explanatory. I won't post it here so as not to make people say things like they were right etc. That is why I said before we attack any party let's see how it plays out. If you noticed I never labelled Innoson, neither have I said Gt bank is innocent. All I am saying is we can't label accusations on people's business without full information. It is unfair if the accusation was not warranted. Innoson said this, GT bank is saying that, who should we believe? The social media stories are not saying many things. Hence why we have to be careful so as not to create slander or defamation.

RabbiDoracle:
I didn't know you were an investor. Nice one bro.

Most people don't understand how this game works. You just summarized it.

For those who don't know, if he bought at 24 for example and he got N2.5 in 2017 year end, got interim (N0.25) for 2018 and now getting N2.5 again for 2018 year end, this shows that he has collected N5.25. when you less 10% WHT, his final amount collected so far from the bank is N4.725.

This shows that gradually his purchase price of the stock is gradually falling from N24 to ~N19.3. this has given him rest of mind and it has also saved him brokerage fees by jumping in and out of stocks.

If stock market remains irrational longer than he remains solvent, say in the next 3 years, he will keep collecting N2.475 (if you take 10% WHT out of N2.75 yearly dividends). In that next 3 years, this man should have got additional N7.425 as dividends. Net this amount from the N19.3 net purchase of his stock, you will have a final value of N11.875

If he decides to sell at N24, you may say he is losing because he bought at N24 and selling at N24. But he has got so much from dividends. If he sells above, he has made more profits.

So bro, you are on the right track. Keep it up.

But once there is madness of the herd in bidding prices too high, you sell off and move on.

This is a very powerful insight.

ahiboilandgas:
are u for real or jocking.....supreme court handed over the bank to a rag tag assembling plant for 8 bn ......innosa is on Amcon list with 40 bn naira debt ....gt share holder funds is over 500 bn...gt customer deposits is excess of 800 bn ,gt makes a profit of 100 bn yearly ....8 bn can not collapse unity bank talkless of gt with 7 million customer ....first bank lost 10 bn during nitel /pentascope saga pls get real

When someone doesn't have all the facts and he keeps attacking and labeling a business as fraudulent, then goes on to bring tribe in it. It can only mean a few things. There was no need for you to mention all this facts sef, we should have let him keep showing us that he doesn't know anything about GT bank as a company nor their financial capability. Hence my point that he is biased.

We will all be here to see how things unfold. Lol!

Barrytone:
My understanding is that we discuss anything that affect TBills or it's customers. If Supreme Court is giving innoson ownership of a bank tha trades on TBills for its customers and an educated man(as claimed) will tell us that we should wait till following week or we need to know the particles of what happened before taking steps to secure our money. Are we expecting the president to intervene in favour of the bank or the Supreme Court will vacate it's position. If you are GTB customer, expect a new owner or a payment that will shake the banks foundation. Supreme Court judgement are not debatable. In sane climes, the customer would have pull out long ago. How do I entrust my money to a dubious entity as confirmed by Supreme Court. I don't care about tribe, am a Nigerian that love the truth. Am only speaking now because Supreme Court has taken a stand so don't play the tribal card here.

You played the tribal card when you said a tribe was right to pull out. In this day and age, that was all shades of wrong. This is business not even politics (which tribal cards are also wrong for)

As for the supreme court verdict and claims, I am telling you what you are seeing on social media is not the full story. You are accusing GT bank of being fraudulent when you have not even heard their part.

8 billion naira is not anything that can rock GT banks foundation. The question you should be asking is if it's too small for them why have they not paid? The answer is simple, many people don't know the actual story.

I still stand by the fact that you are tribalistic.

ahiboilandgas:
will ibo staffs resigned from GT or be sacked

Hahahahahahahahhahahahaha.

Funny people saying they should remove their money are not saying anything about others resigning from their jobs because their bosses are a different tribe.

When you begin to play the tribal card, it's dangerous because there is no limit to how far it can go.

dipoolowoo:
Access Bank to List Additional 6.6bn Shares on NSE
https://businesspost.ng/2019/03/31/access-bank-to-list-additional-6-6bn-shares-on-nse/

I like your blog sir! Kudos!

gamaliel9:
Garnishee
Order nisi

Customs no longer have an account with GTB...because of TSA

GTB should not have gotten interested in this case but it should have just held the money IN LIEN...Then use it to pay off INNOSON...but wanted to do business with it...but tsa came fast and swept the money...now they have to pay since Customs no longer have account with GTB...THERE IS NO ACCOUNT AND MONEY TO CEASE

This case en... lol!

rebekah2011:
I don't think they will ever get punished.
They keep getting away with it. It is sad that the shareholders of Access Bank do not even know what they are acquiring in Diamond. They have been told Diamond has fantastic retail base and the echannels is the best in the industry.
But what do small boys like us know. We have never managed a business and we shouldn't fault the cowboys who are doing great.
It will be nice to hook up someday and rub minds.

Yes boss. Will holla @ you.

As for getting away all the time, I believe everything has a limit, time will tell.