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Travel / Re: Nigerian Family Faces Deportation From Canada Over Fake Admission Letter by Mu(m): 9:14pm On Aug 03 |
Please I need the services of a good agent. Please let me know where I can find one. |
Business / Re: Help! First Bank Is Charging Me Monthly Withdrawal Fee On My Savings Acct!! by Mu(m): 9:14am On Apr 10, 2016 |
I think some people are getting the banking model mixed up with the asset management model. 1. The Banking model works as follows. The bank entices people to come and deposit their funds with them and hence lures Mr A, Mr B and Mr C to deposit money with the bank in return for safety, ability to access funds when needed and interest payment on the funds (ie 3.5% or so). This enticement includes offers of chances to win a free car, generators etc (in the case of FBN). The Bank then turns around and lends 75% of that money (CBN says they must keep 25% on hand in case Mr A needs to withdraw some money) to Mr D, E and F at 24% (including an assortment of fees). This gives the bank an income of 18%. Assuming Mr. D's transaction goes bad and the bank loses 5%, this leaves them with an income of 13% of which they are supposed to pay 3.5% to Mr A, B and C. The remaining 9.5% is the bank's true income, where the bank is supposed to pay salaries from, maintain branches, ATMS etc (This illustration is greatly simplified) The more the depositors, the larger the transactions that bank can do, and the more the money the bank is able to make. Banks earn enough from this 9.5% to never have to charge fees to depositors ever. Under the banking model, the bank ends up with the gain on investment and pays the investor a small percentage for providing the capital. However, the risk is less as you will not end up with less than you invested, although, with all these fees, this is no longer true. 2. The Asset Management Model The Asset Manager entices investors to deposit funds with it in exchange for better returns than the bank can offer. The Asset Manager then invests these funds into a mixture of investments which includes equity (shares or stock market) and debt (loans). There is a greater risk in this model because it is possible for investors to end up with less than they invested. However, it is in the Asset Manager's interest to ensure that the funds are invested soundly because the Asset Manager charges fees on the profits they are able to make for the investor. It is from these fees that the Asset Manager pays salaries from, maintains branches etc. Under this model, the investor ends up with the gain on the investment and rewards the Manager by paying a fee for the generation of such returns. The "Account Management Fee" is actually an aberration because the word "Management" connotes a lot more than the banks do for you when you deposit funds with them. There is a lot at play here. First Bank is obviously in Dire Straits if it has resorted to robbing customers. I suspect that there was a lot of mismanagement, there under the former MD and the New MD is under pressure to do magic. The laziest, brain-dead way to do that is to rob customers since they figure customers will be ill equipped to fight the robbery. However, the long term impact of that can be devastating. If customers start closing accounts, the bank will definitely shrink in size and no longer be "First" Bank. This new MD is likely more of a Manager than a Leader. This tactic was well employed under Soludo as he allowed the banks cloud his judgement by turning him into a celebrity CBN Governor. Despite several fx policy mistakes by Sanusi in his attempt to pander to foreigners who made him a celebrity abroad, he was for the people and Banks would not try to think about trying such moves under him. Now we have Emefiele who is more or less an establishment man, here to protect the interest of the banks which will ensure that such practices will resurface and remain. He has effectively halted all the policies implemented by Sanusi that was supposed to protect and favor customers. There is little hope that such practices will end, till Emefiele is out, so it is best to vote by moving accounts. I will definitely do that, as inconvenient as it may be. Such customer robbing techniques used to be the preserve of banks like Zenith and UBA...now add Ecobank and FBN. What a pity. There is a good reason why First Bank's share prices fell from N18 to N3.50 and now we are seeing why it will fall to N2.20 It is also expected, that a bank should notify its customers well ahead, of any new fees so that the customers are informed and can make their own decisions as to whether to accept or leave. This backdoor approach to bleeding customers smacks of desperation, meaning things are much worse than investors/customers realize. I have already commenced moving my 4 FBN accounts to GTBank and will ensure my staff move their accounts as well. I do not take kindly to being robbed. 4 Likes |
Art, Graphics & Video / Re: Will A U.S. Plasma HDTV Work In Nigeria? by Mu(m): 11:20am On Nov 24, 2011 |
I understand that there is some picture quality loss when using a PAL to NTSC converter. Does anybody know how bad the quality loss is? |
Business / Re: How Much Did You Exchange The Dollar For Today? by Mu(m): 12:37pm On Apr 02, 2009 |
Naira is currently selling for 172 at Eko hotel. If you know where I can get it for less, please let me know. Thanks, |
Business / Re: How Much Did You Exchange The Dollar For Today? by Mu(m): 4:57pm On Mar 18, 2009 |
The dollar has not hit N200 on the black market yet. The highest it got was N187. It's currently N180 to buy and N176 if you're selling. |
Business / Re: How Much Did You Exchange The Dollar For Today? by Mu(m): 5:53pm On Feb 27, 2009 |
1USD = N173 today (black market - Eko Hotel) |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 1:59pm On Jan 14, 2009 |
Still available. Grab it before the Naira/Dollar devaluation pushes prices upwards, |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 12:50pm On Dec 11, 2008 |
Megastu / Small Money - no hard feelings, but Djibouti, Mali and Togo don't count, just kidding, but seriously, let's be reasonable in our postings and not take the excuse of this being a forum for vilification. The VIN for this vehicle is posted, so you can run a check on it. It is as clean as can be, purchased from a private owner and not from an auction. It has all highway miles and was very well maintained. It needs nothing. It has new brakes, rotors, plugs, filters, etc. If you are interested in seeing it, hit me up and we can talk. |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 8:21am On Dec 11, 2008 |
It is obvious that some people on this forum have no clue about the vehicles other than driving it. First of, to be mentioning another vehicle and putting up the price in comparison is border-line insulting. Megastu - If you find a newer model vehicle listed for cheaper, please save the narrative and go and buy it!! Small Money - What is this thing about industry standard; are we manufacturing goods here? Anyone that knows of a minivan in the US, would know it is used for highway family trips. It is obvious that you guys haven't left Lagos before. It is not unusal for a family to drive from say NY to Disney, Orlando Florida, once a year and also make a few holiday trips across the country throughout the year, in addition to using the car on a regular basis, so minivans typically have more miles than sedans. If you can't afford the vehicle, move on and stop posting silly messages. The car is available for 2.2m |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 7:31pm On Dec 10, 2008 |
Thanks for the replies. The price listed is the asking price. Thanks |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 8:25am On Dec 10, 2008 |
Still available. |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 1:37pm On Dec 05, 2008 |
Available |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 2:22pm On Dec 01, 2008 |
@smallmoney I checked out the car listed on your link and noticed that it is an LX model which does not have a lot of the features that the EX has, for example, the LX does not have automatic, remote controlled sliding doors while the EX has. Surely, you do not expect a loaded car to be priced less than a base model car just because the base model car is 1 year newer. However, I have taken your comment into consideration and I've Lowered the price to N2.2m The car is one owner vehicle, meticulously maintained, no accidents, flood, salvage, nothing. The VIN number is listed above so that you can check for yourself. Thanks |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 10:28am On Dec 01, 2008 |
Still available |
Autos / Re: Free VIN Checks Ends Nov 27th by Mu(m): 10:03pm On Nov 17, 2008 |
Thanks Bro |
Autos / Re: Free VIN Checks Ends Nov 27th by Mu(m): 7:56pm On Nov 17, 2008 |
Finally got the right VIN. It's 1NXBR32E44Z274949 Thanks |
Autos / Re: Hot Red 2004 Honda Odyssey For Sale by Mu(m): 7:55pm On Nov 17, 2008 |
The car has Never been used in Nigeria before. The VIN number is 5FNRL18614B095981 The vehicle has 129k Miles Thanks |
Autos / Re: Free VIN Checks Ends Nov 27th by Mu(m): 6:58am On Nov 17, 2008 |
Sorry, The correct VIN number is INXBR32E44Z274949. Thanks |
Autos / Re: Check Your Vin ( Vis-à-vis Inspired_m ) by Mu(m): 5:54pm On Nov 16, 2008 |
Hi Inspired Please can you check INXBR32E4Z274949 Thanks |
Autos / Hot Red 2004 Honda Odyssey For Sale by Mu(m): 8:05pm On Nov 15, 2008 |
Hi All, I've got a HOT Red 2004 Honda Odyssey EX for Sale. As you can see from the pictures, the car is very Clean, and it features power windows, power doors, power mirrors etc. The car comes with 2 remotes which open and close the sliding doors automatically. The AC cools quickly and gets very cold. The tires are new and the vehicle got a full tune-up before leaving America. The engine is in very good condition with no rust and the vehicle handles very smoothly. Price is N2.2m Interested buyers can contact me at 0702-770-3435. Thanks
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Autos / Re: Free VIN Checks Ends Nov 27th by Mu(m): 8:01pm On Nov 15, 2008 |
Hi Mr. Rasmur, Can you please check out INXBR32E4Z274949 Thanks Bro |
Autos / Re: Free VIN Checks Ends Nov 27th by Mu(m): 7:43pm On Nov 14, 2008 |
Thanks Bro. Thanks a lot. |
Autos / Re: Free VIN Checks Ends Nov 27th by Mu(m): 7:14pm On Nov 14, 2008 |
Mr. Rasmur, Please help a brother out with 4T1BE46K87U121786 Thanks |
Technology Market / Re: Hp Tablet Laptop For Sale Hp Tx2110us by Mu(m): 11:12pm On Sep 30, 2008 |
Otilox, I've reserved one for you. MSEdLAW, I'll give you a call tomorrow. Thanks |
Technology Market / Re: Hp Tablet Laptop For Sale Hp Tx2110us by Mu(m): 2:13pm On Sep 30, 2008 |
Hi Prof. Only 12 machines left. Thanks |
Technology Market / Hp Tablet Laptop For Sale Hp Tx2110us by Mu(m): 10:22am On Sep 30, 2008 |
HP TX2110US Tablet Laptop for sale. Specs: 2.1 GHZ AMD Turion, 250Gb HD, 3GB RAM, Bluetooth, Wifi a,b,g,n; Lightscribe CD/DVD Burner, HP mini Remote control, Expresscard/34 PC Card Slot, Fingerprint scanner, Webcam, Mobile stereo Headphones, Windows Vista Premium, 12.1" WXGA High def Brghtview widescreen with built in digitizer and integrated touchscreen Handwriting recognition etc NVidia Geforce Go 6150, laptop bag Price: N145,000 Call or Text 08062759121 Thanks |
Career / Re: CFA Candidates In The House by Mu(m): 4:03pm On Feb 12, 2008 |
Hi Realkemmy, Is the answer to your citibank question $62.5? |
Career / Re: CFA Candidates In The House by Mu(m): 7:26am On Feb 12, 2008 |
Hi Realkemmy Is the answer to the $5,000 perpetuity question Question 1 D) $31,428.57 Question 2 E) 12.5% |
Career / Re: CFA Candidates In The House by Mu(m): 6:56am On Feb 12, 2008 |
Hi realkemmy, Is the answer for the $360 PV question $82.65? |
Career / Re: CFA Candidates In The House by Mu(m): 8:01pm On Feb 06, 2008 |
@ wyt The answer to your question is explained in the Ethics Literature |
TV/Movies / Re: Voltron Defender Of The Universe by Mu(m): 4:47pm On Feb 01, 2008 |
Sorry to go a little off topic. Some Vids. Enjoy, Superted http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=6788650 Terrahawks http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=6788752 Fraggle Rocks http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=6788283 Godzilla http://vids.myspace.com/index.cfm?fuseaction=vids.individual&VideoID=6788310 |
Career / Re: CFA Candidates In The House by Mu(m): 4:57pm On Jan 30, 2008 |
No Problem. |
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