₦airaland Forum

emmanuelewumi:
Secondary market prices for some bonds sent to me by Afrinvest.

Obaseki the governor of Edo State is the founder of Afrinvest


Some of the bonds have even gained 100%

Is this the coupon yield or the yield-to-maturity?

Fund managers are piling on the short dollar trade, Oil prices are gradually recovering, US stimulus is expected, COVID vaccine, potential de-escaltion of the US-China trade war by the new administration, allocation to emerging markets is set to increase ($EEM up >13% since Nov), risk-free rate in Nigeria close to zero, CBN intending to loosen cash reserve ratio.

Almost seem like a goldilocks zone for domestic participation in the NSE. But will they oblige?

Nmeri17:
Doesn't the 2034 mean that that's when the bond matures? How come you're expecting it now?

Coupons are paid biannually.

Any working livestream?

Thanks.

YungMike:
If you've anyone traveling outside Nigeria or a Nigerian living outside the country that wants a calling service that'd enable him/her call family and friends in Nigeria at a very cheap rate.

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It is far more better than ROAMING. You won't be billed for receiving call. The caller will also be charged at the normal local operator rate.

Benefits:
1. Super Clear voice call
2. Cheap and affordable low call rate compared to roaming.
And so much more.

To get registered and activated on the smile voice service, Kindly check our signature for our contacts.

Call/Text/WhatsApp: +2349084858579

Hi. Is this still available?

Etienz:
10% per annum bro

Is withholding tax charged on the accrued interest?

RealityShot:
hi.. Please what is the current interest rate on the sibtc dollar fund?
I have a mmf account with them, will I need to open another account for this?
Thank you

The rate on the SIBTC dollar fund is calculated a bit differently (in comparison with a money market fund). You don't have an annualised yield that accrues daily. Instead, you get appreciation in the fund's net asset value (NAV) and a yearly dividend payout, just like equities.

That said, the annualised total return (NAV + distribution paid out in April) as at today is ~ 6.64%. In general, you should expect c. 6-7% annually.

You need to complete a separate application to sign up for the dollar fund. Additionally, there is a minimum 6-month holding period and online redemptions are not allowed.

Hope this helps.

shogbenga:
Awesomej, ernie4life and other gurus....I asked this question in another thread but since this deals with bond, I need your guidance......I am selling a property and I expect about close to 20m from the transaction. Selling because of tenant issue, maintenance etc.
Kindly advise on which to invest the money on between TB and Bond. I am ready to go long term as far as 20 years considering the proceed is from a property. Which one will give higher returns. Thanks

You want to have diversification, liquidity, and good cashflow.

I will suggest you put 50% into the (very liquid) 10-year FGN bond, 25% into 1-year treasury bills, and the other 25% into Stanbic IBTC dollar fund (~7% total returns per year, minimum investment of $1000).

Have the dividends from the dollar fund reinvested, while the semi-annual coupon payments from the bond can be added to the Tbill when you rollover annually.

decargne:
Good day, please my friend ask me to help him ask the following questions, he doesn't have an account here and doesn't want to register.
1. what is the minimum amount needed to put in for a five year FG bonds
2. How would one go about it, is registration with a stockbroker compulsory particularly if one has a mutual fund account with a bank like standbic?

please we have read all the pages on bond investors hub thread and those on the DMO page but the answers to these questions seem not to be clear. please help. thanks

ARM securities will purchase FGN bonds from DMO auctions for you for N5m.

Clarity is hard to obtain in Naija finance, it seems. The best thing to do when seeking information is to call up the brokerage houses and ask for what you want. Some of them include ARM securities, IONE, Stanbic securities, FBN securities, amongst others.

ImperialCovfefe:
It just means you would pay a little bit more than the quoted price.

You can seek clarification from your stockbroker and/or read here: https://www.investopedia.com/terms/d/dirtyprice.asp

Here is an illustration.

Regards.

OBAGADAFFI:
Kindly explain the NRN team your talking about.

The process i gave you is for GTBANK.

Non-Resident Nigerian customer service team. I simply want to get my e-dividend form stamped by my bank (Guaranty trust bank). The e-dividend form does not necessarily have to be for GTB shares (or any security managed by DataMax).

OBAGADAFFI:
GTB(DataMax Registrars Ltd) registration process is very difficult .


Kindly contact your stockbroker to process your share stock transfer Form through the CSCS.
​
Submit to us photocopy of the stockbroker’s schedule/share stock transfer form duly acknowledged at the CSCS, attach the completed e-dividend mandate form, ensure that the completed form is stamped by your bank and forward to our office for processing

Thanks.

I meant the actual bank, not registrars. In Nigeria, you just walk into a branch to have your e-dividend mandate signed, stamped and processed. But liaising with the NRN team for a similar process isn’t going so smoothly.

Have you had to process your e-dividend mandate without physically visiting a bank branch?

Hello everyone,

Has anyone here processed an e-dividend mandate form electronically from outside Nigeria? If yes, which bank(s) did you use? GTB is making it unnecessarily difficult.

Thanks

Barrytone:
Good morning house, please which bank has the lowest charge when transferring money to USA via dorm account

For offshore transfers, I think GTB is 0.5% of amount + $25 offshore charge + N6000 telex.

Desanta:
I sent an email to them stating my intentions.
In their reply they sent a list of forms, about 8 in number which I filled scanned and sent to them with my means of identification, Nepali bill, and pass port photography. Since then I've deposited 800k into my account and my last withdrawal this morning is 600k.

Thanks, Bro.

Desanta:
True.
That's what I did and after my KYC was accepted, all limitations were removed.
I have never visited the bank and I have several millions of naira with them.

Hi Desanta,

How did you submit your KYC documents without visiting a branch? I’m assuming you’re referring to the normal bank account and not the Mutual Funds. If yes, would you mind elaborating?

Thanks.

Hello bro,
Which bank quoted the NGN280/$1 for the forward contract?

Firefire:
"But at the end of trading yesterday, the exchange rate for the OTC FX Futures for one-month closed at N279/$1; while the two-month rate due for settlement on August 24 closed at N277/$; the three-month rate due for settlement on September 28 closed at N275/$, and the 4-month rate due for settlement on October 26 closed at N267/$1".

All the quoted prices here for either Future/Forward is lower than what I got from the banks, I hope someone is not playing games?

I got N280/$1 unspecified forward period (Max. of 60 days), while I got as high as N284/$1 for SPOT.

Hi bro,

Have you utilized this naira-settled futures contract previously?

loopman:
I perfectly understand the challenges of most people as I am affected, having a dollar exposure over USD$7M and with a double jeopardy of my item being on the 41 items list.
My explanation is on the Over-the-counter (OTC) foreign exchange (FX) Futures on the FMDQ OTC Securities Exchange

Find below how it work.

Hello all,

Has anyone gotten a Certificate of Capital Importation (CCI) by making remittance into Stanbic MMF? How was the process like?

Thanks

Hello all,

Has anyone gotten a Certificate of Capital Importation (CCI) by making remittance into Stanbic MMF? How was the process like?

Thanks

Hi All,

Fellow students in Ontario, how much do you spend, on average, in a month less house rent and transportation?

Biko, make I know if I don dey loose-guard since.

ImperialCovfefe:
Thank you. I think renewal will be permissible (see attached image and link).

https://travel.stackexchange.com/questions/87429/can-i-travel-to-canada-with-valid-visa-on-old-expired-passport

A quick update.

1) There is no problem with renewing your international passport in Nigeria after obtaining a Canadian visa.

2) You can renew your Nigerian international passport even if it’s valid for more than 6 months.

Regards.

Osemigho:
No. I used one because it was still valid.

Thanks. Was the medical initially done for the student visa or the PR?

Osemigho:
When I see multiple invite from Nairaland, I know someone don cast something. Lol. How una Dey?

As I have always plead, student applicant are advised to check express entry. Trust me, The benefits are more than lower school fees.

For those going for masters without scholarship and would like to get a professional job afterwards, please volunteer and network well when schooling. Use your 20hrs/week off-campus permitted work to explore causal or part time professional employment in your field/desired organization. For those with scholarship, it is Kuku not your money. Otherwise, IMO, same advise apply. I am sorry to break the news, “man-know-man” dey Canada but they call it referral.

All the best.

Hello,

Did you do seperate (two) medicals for Student visa and FSW?

nalizzzy:
why is everyone writing SOP.

I can assay a couple of reasons. Some may use it to clarify parts of their application, to unexplain gaps in education or work experience, or to provide mitigating reasons. Others may use it to organise their application (almost a pseudo table of contents, if you like), emphasising information they feel is essential to the VO.

But, ultimately, it depends on the applicant’s preference. For me, I did not submit an SOP.

nalizzzy:
pls people someone just told me she got Canada study vise without SOP can this be true. thank you

Yes, it is optional.

Uzoreen:
I believe it depends on the type of visa u are issued.

If its a visa applied through EE, you are expected to travel before the expiration of the passport where the visa is issued or the expiration of your medicals. Which ever comes first.

I hope this helps.

Thank you, Bro.

nivlek000:
Hi,
I dont know for certain if it's gonna be an issue. But it sound like it could be.
If you're yet to renew it I suggest you do it in Ottawa Canada. At least that's what I intend to do.
First thing I'll be doing the day after I land in Ottawa by Gods grace. Before taking a flight to my school's province.

Thank you. I think renewal will be permissible (see attached image and link).

https://travel.stackexchange.com/questions/87429/can-i-travel-to-canada-with-valid-visa-on-old-expired-passport

Hello All,

Please, I have a query.

Would there be any problems at the POE, if you renew your passport in Nigeria after you have obtained a Canadian visa? I am enquiring because the second page of my correspondence letter states that "If you obtain a new passport before your visa expires, you will need to apply for a new visa."

Thanks.

Hello All,

Please, I have a query.

Would there be any problems at the POE, if you renew your passport in Nigeria after you have obtained a Canadian visa? I am enquiring because the second page of my correspondence letter states that "If you obtain a new passport before your visa expires, you will need to apply for a new visa."

Thanks.

Anfieldboss:
How old are you?

Hello Bro,

Please, I sent you a PM and a mail.

Regards

Hello @all,

If someone carries 10000 US dollars cash to Canada, would there be any issues in depositing the sum over the counter into a Canadian bank account?

Thanks.