₦airaland Forum

murry2:
Congratulations! may God bless it for you.

Pls how much is the total amount for exemption and the total amount for the 5 papers for someone that have ACA?

same amount u would pay for the paper anyway.

Of recent i think the exemption fee for ACAs is waived or there was a promo

wisebrains:
Wow.. Congratulations

thanks

highb1:
elaborate more please, what are the four papers and are they going to be written at once or in stages?

Professional papers.. this means u can write at once. The maximum is 4 at once tho.

P1 p2 p3 and two optionals from p4 - p7

By sept p1 nd p3 will be merged to form one paper called Strategic Business Leader

wisebolak43:
congrat.pls kindly brief me on amount payable for exemption by ACA holders that want to write ACCA

You get to write 5 professional papers which should be around 125 - 135 GBP depending on how early you pay and the latest price review. From Sept this year it will be 4 papers, however one of them should be around 190 GBP or thereabout (2 papers P1 nd P3 will be combined)

You would normally pay exemption fee for the full amount of papers u are claiming exemption for but i think there is a promo recently. A colleague of mine who wanted to write the conversion paper was told not to pay for the exemption fee.

mandonnels:
72hrs tension.
it is well

Haha i know this feeling

Just saw my Acca results. I have been under tension since Saturday waiting for 12pm uk time on 15th Jan.. Very scary feeling .

Now an Affiliate tho.. thank God.

ABDamola:
No more speculations again!

The date has been communicated to the council members.

The official date is Wednesday, 17th January, 2018.

3days to go...

Acca has released 1am today and the exams were written 2 weeks after ICAN.. Ican needs to improve really. I am planning to write the conversion paper in May

When will ladies understand that excessive makeup is a turn off for most guys

chynie:
I have never found this girl appealing

same

thorpido:
Guys should be smarter. If you are going deeper,after a few years,marry her,get her pregnant,let her continue her studies in your house.

so if i started dating her at 15 yrs old, i should marry and impregnate her by 23? Use ur upper o

Kemade2007:
Maybe there's something wrong because I did online Top up yesterday in the morning and my account credited yesterday in the evening

Good for you. I tried calling GT Bank to complain too, it might be the fault of the dispensing bank. But then they said for them to resolve anything it will take btw 5 - 8 working days. I just tire. I cant be doing all this wahala o.

lilmaydee:
Same thing I experienced when I opened my mmf account with Stanbic IBTC. I did it on Monday, waited till Wednesday to call their customer care when I didn't hear from them, they promised to get back to me, waited again till Friday, no show, then I called them several times, same story. I kept calling until the lady in charge picked my call, I just requested for my details and hung up. I'm gonna close the account as soon as it matures. I can't be going through all that wahala. I thought they have good customer care service but I was wrong jawe.

Yea their customer care doesnt seem to be very good. Its scary to put a lot of funds in this account (which is what i have done and the money is no where to be found currently)

Its now 4 days since i did a top up on the stanbic online platform; the amount has still not been reflected in my MF account. Customer service said they will get back to me but nothing till now. Fingers crossed.

jossy26:
Hello house, does anyone have another direct contact of any staff of Arm mmf, I subscribed for mmf on their online platform since sat 6th January and I have since not gotten a response from them, no email at all to acknowledge my order even though money has been debited from my account.
I have sent countless emails to enquiries@arminvestmentcenter.com and placed calls but still no response. would appreciate if anyone has an idea how to resolve this

I think we both have a similar question.

Hello house: As the question above, does it normally take so long for top ups on the online portal to reflect? I am asking because i have done a transfer through the portal since yesterday and have been debited but this is yet to reflect? Is this normal? I only need to know it this is normal so that i wont bother sending any message to their customer care. Thanks

After doing a top up in the Stanbic online platform, how long does it take to reflect? I did a top up and have been debited but this is yet to reflect in my online portal

ozymes:
Yes, you get cool 10m cowries if you did not terminate before maturity

why then do people callthe interest an upfront interest

ositadima1:
Let me clear d air a little.

what CBN quote are discount rates, with these u can compute true yield;

True yield = (discount rate * 100)/(1 - discount rate)

eg, for discount rate of 17.4% u get (0.174 * 100)/(1 - 0.174) = 21.1% , this is d ROI on ur true principal.

True principal is the real money u are investing.

True principal = apparent principal * (1 - discount rate)

eg, for discount rate of 17.4%, apparent principal of 10m (the available money in ur account)
True principal = 10m * (1 - 0.174) = 8.26m

In other words u invest 8.26m to make 10m at end of tenure, a 21.1% ROI.

@bolded

So basically i am getting the interest (10m - 8.26m) at the end of the tenure right?

Begining if tenure i pay 8.26m
End of tenure i get 10m

Is this correct?

What is meant by bid and offer price of #1. I can see this under fund prices in the app?

Empress2014:
yes there is a top up option through the app, you can't fund it through another bank app and the other option is to go to stanbic bank . If you want to top up online, it will direct you to interswitch page and you can input your access bank atm details there and get to pay it from access to your mmf account that way.

thank u

katamo:
You are getting 19% because your cash flows are incorrect.

At the time of investment (what you call yr 0, the cash flow if -6,668,000. The upfront interest is already accounted for in that number (i.e. 6,880,000=8,000,000 - (8,000,000* 14% [this is upfront interest]).

At maturity (yr 1), you get the face value of 8,000,000 and not 6,880,000.

If you calculate the IRR based on these cash flows you should get back to the right number.

Oh if I get u correctly; the upfront interest is in form of a discounted amount to your investment, not like you are receiving it as an actual cash on that day?

If this is the case, does it not mean we actually get the interest on redemption rather than upfront? As in i invest 6680 and get 8000 in 1 year time, the interest is effectively in one yr time too?

Empress2014:
E-account is your mmf account number, stanbic mmf don't take cash deposit, you will fill a transfer form and the fund will be transfer from your main account to mmf account and the other option is topping up online, i hope you understand this explanation.

Thanks i do understand.

What i just tried doing was transfer to the E account no (mutual fund) from my access bank mobile app and it says the account number is invalid. By top up, do you mean subscription through the app where it directs me to an interswitch platform for online payment?

Kemade2007:
U have to wait for 30days or redeem with penalty

Irrespective he shouldn't be getting that error right? So long he can afford to pay the penalty, redemption should be possible anytime

IamZod:
OK. So registered for Stanbic MMF just December last year.
But I'm trying to redeem some funds due to some pressing need, but it says I can't redeem funds now.
What do I do please?

from the app? Is it saying you haveny registered for online redemption?

Empress2014:
that's your mmf account number, it's different from your savings/current account number

Do u mean the one called E account number is my MMF acct number? Or the one i initially deposited the 5k to? Thanks

grosy:
Pls how do I get my principle n my interest being invested back to my account. If I In vest with stanbic ibtcmoney market fund pls help

i know therr is a subscription option in the app, so i guess you have to redeem first and then subscribe. I am not sure tho, it may be possible to send an instruction to the bank to roll over

lilmaydee:
I went to Stanbic ibtc branch yesterday, the lady told me the rate is 16.8% that I need to open an account with them to make it easier for me to transfer the funds and to do kyc. I've opened the account today. Waiting for my account number. Thanks to everyone that have Made major contributions to this thread.

i opened an account with them too and they have done the kyc. I didn't even ask for the rate as someone already told me its abt 16%.

Although i am having an issue with them; whenever i try to redeem on the app, it asks for a secret answer. The funny thing is that no question is put there and i can't remember the security question i filled when opening the account.

To everyone: is it possible to subscribe by transferring directly to the mutual fund account or one must follow the subscription process in the app?

Edit: on opening my mutual fund account, the lady at the CC told me to transfer the initial 5k to an account number (which shows that it is stanbic MMF when i was abt to pay online) but after some emails from stanbic asset mgt i noticed they always quoted an E-Account Number? Is this my real account number?

BBFE:
The formula for effect yield is. 1/(1-rate). This has been discussed here on several occasions. 1/(1-0.14)=16.2791.

Oh thanks. I see we have a different definition of what effective interest rate is. The 16.2% using that method is simply the current yield and nothing more; its the same as simply dividing the interest over the amount invested. i.e (ROI) (1120/6880).

From my understanding in finance, i will say several factors affect what your effective yield is; the basic one's are the issue price (the 6880k invested), the interest rate of 1120k, the redemption amount of 6880k and more importantly the timing of these cash flows. The fact that interests are paid upfront will significantly affect the yield to maturity/effective yield than if they were paid, say at the end of the first year when the investment matures. The concept of time value of money is very key to determining the yield to maturity and thus will be the reason why i am getting 19% and not 16%. It may be fine to base investment decisions based on current yield like you have done especially if you dont plan to roll over the interest payment/reinvest in a different source ; if you do, then time value of money becomes important and the yield to maturity should be used in making the decision rather than a mere ROI.

realjidejamal:
Amen!
Thank you TONY56

I read everything regarding that and I'm glad my situation help us all to gain more experience about termination.
This whole thing has really made me to pay more attention to terms and conditions too.
Regards!

Pls what did he mean by the rate it was purchased/sold. Is he talking abt the actual interest rate?

Does it mean if i purchase t bills with a discount rate of say 10%, i can sell this same t bills to the bank at a different rate of say 12% if that is the prevailing rate.

Also does the T bills rate actually change everyday?

Thanks

feelamong:
lets say the discount rate is 14% for 1 year.
you will pay N6,880,000.
if you hold to maturity = (8,000,000- 6,880,000)/6,880,000 * 100 = 16.27%

In essence if you hold for one year ur effective yield is N1,301,600

In simple terms if you only hold for 91 days you will have N1,301,600/4 = N325,400

Is this really the effective yield for a 1 year period? If interest on t bills are indeed paid upfront (when you place the investment); then this gives an advantage such that the interest received upfront can be reinvested.

In other words my own calculation of the yield to maturity will go this way.

Yr 0: CF: (6,880,000) + 1,120,000
Yr1: CF: 6,880,000

My financial calculator tells me the effective interest rate is actually 19.4%

Can someone correct me pls?

Thanks

Consider mutual funds instead of TB.. forget FD

Boss13:
I don’t have a problem with people making volunteering or pressured donations to their various religious organizations. After all, every organization require funding for their sustenance and survival. However, what I find disturbing is the lack of transparency and accountability in churches. This is the same problem we have in Nigeria. Religious organizations should publish their statement of accounts, financial positions and income statements and also other important information to their members. I strongly believe that their members deserved to know because of their donations.

i agree except the pressured donation? Its wrong biblically. Churches should publish their accounts altho there will be negative consequences. Imagine a 50k earner seeing the kind of salaries paid to church workers; the guy will faint...

Damfostopper:
who get time to do all this.... ogbeni na to break screen comot

comot go where for air?

Firewall dude