₦airaland Forum

adveert002:
It the same reason, the only difference is you will read the step by step of the process

Okay, great, I’d order the notes. Thanks

Bostin:
Do you used invitation letter or just the hotel reservation . What home ties did you used

Ought to have been Invitation letter from my spouse but I realized i didn’t include it in documents submitted.

pufframmy:
why not requedt for ur GMCs Note to know the main reason before reapplying

Would the GCMS note state a different reason other than those on the rejection letter?

Lezy:
You can apply again. But work on your home ties.

What is or are the proof of home ties you submitted before?

What type of visa application was it?

It was a visit visa based on family reunification. To be candid, I don’t think I included any document to serve home ties purpose aside the documents they asked me to submit. What sort of documents/criteria would suffice for this purpose ?

I got a feedback from my application today, however, I was refused a Visa on the basis of lack of home ties.

Submitted January 5th 2022
Refusal January 28th 2022

I would apply again, but, how do I give the visa officer comfort that I would return to Nigeria before my visa elapses.

awesomeJ:
Thank you for this timely info.
However like you said, we have to watch out for their secondary market liquidity first. Thanks again.

Anytime my boss

awesomeJ:
Bonds are kinda sold in units with each unit having a face value.
so if you buy a 15% APR 2023 FGN bond with 10m at its original price, you'd be having 100,000 units of the bond, and since the coupon is 15%, your annual interest would be 1.5m

Now when you buy at the secondary market, you often don't buy at the original unit price. You may get to buy at say N90 per unit, which implies that you'd only be paying 9m to get thesame 100,000 units.

But at the end of the year, both you who bought at 9m and the other person that bought at 10m, you'd each get 1.5m as interest, because you hold the same number of units. But while his own yield is 15%(1.5m on 10m input), yours is 16.67%(1.5m on 9m input)

So coupon rate indicates the rate at which interest is paid on a bond based on its face value, while yield indicates the actual rate of returns to an investor.

The coupon rate is always indicated in the name of most bonds, and it doesn't change throughout the lifetime of the bond.

Only changes in purchase prices bring about changes in yields to bond investors.

Bonds bought at prices below their face values have higher yields, and vice versa.

Kindly ask for any further clarification if....

Bonds are units in 1000

Just2endowed2:
give me link to thisvisionscope bond offerring

Check business day of February 28th 2018 for their last offer

awesomeJ:
Thank God for the rating Agencies. I may be skeptical on any bond with a rating below B+, but I'd be pretty much comfortable with those having B+ or higher.

I know ratings can be manipulated, but I don't think such practice is really prevalent.

Another gauge, is if most asset managers and PFAs are buying into a bond, it'd spell some more comfort for me.

That Visionscape bond, can you give us more info on it.
When did the auction take place?
How could retail investors like us have participated?
When/Where will it be listed,
What funding support do they have from the Lagos state government. (They're the clean Lagos initiative guys right?)

well , they seek to issue 50bn worth of bond and they have done less than 50% , first offer was august 2017 , the last offer was on feb 26 and ended feb 28 worth of 4bn at the rate of 15.75% . The feb offering was the second trench of the 50bn they intend to offer. The bond is fully backed by LASG hence it has an underlying asset of the Lagos state treasury for 50 years. The last bond offering was not caped hence i think it is open to all and sundry. I do not know when the next trench will be auctioned but going by my estimation July, August should be next.

awesomeJ:
Just as banks helped us get around the 50m T-bills hurdle. I wish they'll do much regarding this $200k. $10k would make them more accessible.

I do not think so , this is a capital market instrument hence they try to avoid buy today sell tomorrow because bonds unlike tbills are not comparably liquid.

awesomeJ:
You should be able to fund a Eurobond investment from your dorm if your dealing through a bank. However if it's through a brokerage or investment house, you'll have to transfer the forex.

And lest we forget, the $200k is just for one firm. There may others that'll take from $10,000. I'll make findings and give updates.

The global minimum principal that is allowed to purchase an Eurobond is $200k but houses and banks have their way of purchasing for clients with lesser capital. They either make a pool or trade on a buy back .

Just2endowed2:
How do one get corporate bonds

Depends on the cooperation offering it. Usually you bid to the company or its delegat but note you have to make your due diligence and ensure such coy can fulfill its obligation at maturity and the longtivity of the coy. Recently visionscape offered bond at 17-20% effective yield.

samonsuru:
Yes, we have a distributor. She cannot meet up the demand for supplying the product. She advised we get more distributors, in order to effectively cover Lagos. If you are ready, let us do business.

I want to purchase.

Ok , a whole lot of excitement here. Let us be careful while buying bonds , there are some instrument with great coupon but highly illiquid. So be sure to ensure you are getting a liquid bond Incase you need to call before maturity. Bonds of 20-30 years from now will be illiquid because the holders are usually PFAs , Merchant , Morgage or some institutions.


In Nigeria we have the following bonds

Sovereign bonds (FGN)
Municipal bonds ( state)
Savings bonds (issued by FGN for retailers)
Corporate bonds (organizations)

As a guy at his peak, I prefer the corporate bonds, they offer better coupon in line with risk principal of higher the risk taken, the higher reward.

247ibile:
na cow na

Well I know, was just trying to make a pun

Do you have in lagos already ?

akinsondan:
snails still available now @ #150 per one

what size for this amount , where is your farm

geese

Gavrelino123:
Thanks.....but how's the interest calculated..?using 10m for example at an interest rate of 15%.
what are the taxes like compared to TB.?

I got block trying to post the workings here. find it below in the image

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