emmasoft:


There is nothing like rollover investment in mmf.
Your capital is always there, you only do the following: top up, reinvest interest which is automatic, redeem part of your investment or liquidate your balance ie capital and interest at any point in time.

One rule is that any deposit must stay 30 days or more before in can be withdrawn without penalties otherwise you are charged 20% of the accrued interest on d amount you are withdrawing.

Thanks for the response. However it’s still not very clear. Let’s say you have X amount of principal with interest accruing and rolled over into the next month. Then next month you withdraw a Y amount from the fund (once or twice), what’s the implication of this penalty wise. Also let’s say during a certain month, you top up with X amount and withdrew a Y amount (lesser or more than the top up amount), in the same month, what’s the implication of this too.

emmasoft:


Please not MMF duration is determined by d investor. No specific tenors is set out by the fund managers. MMF is not like Tbills that has specific tenors.
You stay as long as you wish. Now that he's signed up, he can leave any time after 30 days without any penalties.

I will advice check up the last 5 pages before the current page on this thread, I have given answers to similar questions like this.

You can also reach out to me with the phone numbers on my signature.

Pls can you explain this penalty further? For existing investments that is usually rolled over.

ottajah:

Stop typing gibberish....He said nothing from what I read..
the other guy you are writing against is right

The light is on but no one is in the room…

viccy12:
Is that all he had to say. What a coward! I thought he was going to be bold and courageous and assess the failure of this government rather telling us how protest should be done and the rest of the gibberish he wrote their to deceive himself into believing he criticized Tinubu. Soyimka must really think he is smart! Coward!

The man owes you nothing. He said what he said. I do not understand this obsession to the man’s political views. If I recall well he was one of those that protested that Yaradua handed power to Jonathan when the president was indisposed at the time. If he had deep seated tribalism in him, why will he do that. Is Jonathan from Ogún state or Oyo. However Jonathan’s regime was the first to witness so much terrorist killings and publicized corruption at the time…, what was wrong for him to also protest against it since he was one of those that backed the man to be president. Subsequent administrations came and y’all expect him to keep hitting the streets because of what exactly? I repeat he doesn’t owe any of you jack.

lastkingsman:


Your first paragraph works in a well defined economy, not Nigeria.

[An interest rate is the cost you pay to the lender for borrowing money to finance your loan, on top of the loan amount or your principal. The higher the interest rate, the more you'll pay over the life of your loan.]

From the above definition, how many Nigerians borrow to finance anything (business, mortgage, car and so on)?

Raising interest rate is just a mechanism to suck so cash from circulation and discourage further money supply through borrowing but CBN is still increasing money supply like drug addicts and expecting interest rate hike to work. Lol

Asides borrowings, higher interest rate affects spending behavior, as rational agents will choose to save more rather than spend. It’s basic stuff bro. Go check the volume of deposits going into mutual funds and other investment vehicles of recent, you’ll have a decent picture. While I’m not saying the hike in rates will do magic as every policy has its lags depending on several factors, however if we are being objective, policy tightening is still the logical step to take for now.

lastkingsman:


That's not how you solve inflation problem with reference to 'redomination'. On increasing interest rate, it won't work in Nigeria scenario as Nigeria is not like Western economics that run largely on credit financing.

Nigeria inflation is cost-pull not demand-pull

"'Demand pull inflation arises when the aggregate demand becomes more than the aggregate supply in the economy. Cost pull inflation occurs when aggregate demand remains the same but there is a decline in aggregate supply due to external factors that cause rise in price levels."' QUOTED

This "cost" in this situation is coming from high FX rate of 1,600/$. Import is so expensive that even petrol is costing FGN 700b naira per month to keep the price at 700-800 naira.

The solution is bringing down the exchange rate through exports (oil in short term) , increasing capital importation (FPIs, FDIs and Remittances), cut down cost of governance and budgetary fiscal discipline.

Unfortunately the Jagaban of Borgu kingdom and the mobil trained accountant does have what it takes to implement these solutions, hence it will get worse. If he like, he can increase the interest rate to 1000% and redonminate naira by factor of 10 ^ -3. Nothing will change

Even if the inflation is cost driven, a hike in rates can bring down aggregate demand in such a way that prices will be forced to fall if other factors remain constant. The hawkish stance of the apex bank is mainly concerned about that transmission channel. Besides, CBN may also want to attract more Foreign Portfolio Investment, reduce pressures on FX reserves and to mitigate FX depreciation. On fiscal discipline, I agree with that.

mayor02:


Relax, you both are correct
There are different type of inflation and the solutions to solve them are different
There is cost push
There is demand pull
There are also other factors that causes inflation like, insecurity and others

Increase in interest rate is used to solve the inflation of too much money in circulation. But the inflation we are facing in Nigeria is caused by factors like insecurity, infrastructure, excessive importation.
Cardo is giving the wrong medicine

This is incorrect. Whether the inflation is driven by the supply or demand side, a hike in rates will still drive the other disequilibrium down back to balance, other things being equal. But that is basic economics. It may not work here because there is lack of policy coordination…irresponsible fiscal policies is making monetary policies ineffective due to crowding out effects. But CBN do not have much of a choice, they still have to do their own part.

emmasoft:


The rule of this investment is to enjoy it while it lasts. Don't bother, when the rate changes there will be another opportunity. Normally a rate drop is an opportunity in another segment of investment except when there is a complete economic meltdown which in itself is another opportunity in disguise. ask

Noted thanks.

vefexam:
Yesterday, just got 33k+ from my investment.

Omo!

This is better than keeping money in the bank

The only challenge now is no one knows when rates will drop and what it will drop to. Certainty aids financial planning. I don’t think we will ever see rates peak this high again after this bubble. We can only hope CBN will maintain this high MPR….

olig:
I get the point. It is still okay by me for now. Since my fund is save.

Please, how reliable is the Morgan Capital? Opening an account with Stanbic IBTC stock brokerage is tiring. I first spent many weeks before I could submit my application; it kept returning error. I contacted them and they said they will communicate with their IT. Many days passed, no response. I contacted them again, and again. I was only able to submit when I changed my Next of Kin address to the same address that I used. I wonder if it is a must for me and my next of kin to live in the same address.
After submission, I only got a notification that they will get back within 2 days. Many day passed, no response or confirmation of opening. I contacted them after like a week and they apologised and asked why I chose "others" in the source of investment. I explained to them and they said they will get back to me. The last communication was Friday last week. Since then, silence again.
I am getting tired of them. I just like them, but they are discouraging me now. I initially thought I will go with United Capital, because I just opened a MMF with them now.

I always prefer brockers and Fund Managers with parent bank or other affiliated financial institutions with good records.

Had similar issues some years back. I filled two forms, normal account opening and MMF. I didn’t get my account number for weeks. Had to go to their office on the island where they gave it to me. I asked for the MMF account no, they said nothing like that in their records. Upon further inquiry they said it’s cos my ID card had three names and BVN had two names….something like that. Had to fill another form for that and all. Their KYC requirements can be quite frustrating at account onboarding stage but it’s worth it eventually.

Asides some few issues once in a while, I personally think they’re the best in the market at the moment. Seamless app, daily settlements, competitive rates etc. you can go to a good branch where you’ll get good guidance on what to fill in the form and collect the account officer number for follow up.

.

goaldynboy:


If with N35b he can acquire 5% of the Bank's equity;
Since 5% X 20 squalls to 100%

It necessarily follows that the bank is worth:

N35b X 20, which is equal to:

N700b

35 billion unit of shares, not market value of 35 billion naira. He bought 1.8 billion units out of the total issued shares. You must know the current share price to know the market value of the company.

Conflicting submissions. He inferred that the naira is overvalued and still went on to say the value should be 4 times stronger than what it is currently....makes no sense to me and perhaps we should be more careful with these "experts"....

No one has a monopoly of violence...and no such thing as a victor in any 21st century war between heavyweights. I believe Russia is wise enough to know the basics.

A little knowledge is a dangerous thing. He lost me when he opted for a free float system in a country with serious structural deficiencies militating against those invisible hands. Foreign debt overhang, inflation, market imperfection (speculation, collusive oligopoly especially in the parallel market), massive window for currency abitraging, bottlenecks in accessibility of FX at the official rate, interest rate, unilateral source of FX earnings, unfavourable balance of trade etc....cannot make such a system work in this peculiar situation. Hmmm, interesting times we live in....

Hmmm how do you explain a gross loss increment of over 100% from 36.7b in 2019 to 81.1b in 2020 for the corporation. Even the dubious profit declared was due to the huge impairment reversal of over 400billion (with a vague disclosure to back it up). The level of inefficiency and waste in government owned parastatals is beyond comprehension.

Gone are the days women are treated as second class citizens...in today's reality they are more favoured than men. Men commits more suicide, have a higher mortality rate, records more depression, financial expectations and societal pressures...nearly 70% of divorce is initiated by women...the list is endless. At the end of the day, both genders are constantly embroiled in a battle of superiority with the females currently topping the charts.

Of all the pressing problems of this country worth drawing Government's action to, this one chose hustling minors soiling her windscreen. Interesting times we live in....

Powersurge:
This is no so wise thing to do. They hv broken tge law, prosecute them ad throw them in jail.

The process of prosecution and conviction involves some considerable amount of resources;manpower, financial etc. Why waste such on a sect with no significant impact on your indigenous development?. Besides, when they all have occupied most of the available jail cells, where will the locals be squeezed.

5hanklee:
Sèun osewa
Is 9-letters-word

Same as Bill Gates and Jeff Bezos.

Kestolove:
All Gay's must die in 2021

I guess you're the Grim Reaper.

Marriage isn't for everyone. I read some comments and I've come to realize the modern wave of feminism blowing this generation has turned most of our men to masochists. They just marry. No substance, no true companionship, no deep understanding of each other, no love. To these weak dudes, women are doing them a favour by doing some basic crap men do everytime yet get no applause for. The op is fvcked already cos I don't see profound love in this home. You probably married cos of some self esteem issues or age considerations...now it's yours to deal with for the rest of your lives. All I know is that woman can never be your last recourse for any sort of emotional support. Your marriage is purely transactional. Deal with it.

On the flip side though, it's a fvcking boring country.

SaintUlot:


Their is just a slight difference between M30s and M31 and M31 have an higher price with a 50k difference in price.

It makes more sense to go for m30s

34.43% more megapixels/camera quality, screen protection, wider aperture, latest version of Android, NFC, 150MBits/s (faster download), more RAM (if you're buying the 4gig version of m30s), shoots raw, supports ANT+, better hardware build (check YouTube for the stress test), accessibility of phone accessories/parts due to the phone being relatively less scarce in Nigeria than it's predecessor. Don't know about the price difference being 50k, but last I checked, it was around 30k thereabout. Nonetheless, I'll tell you for free; they aren't mates.

Go for M31

https://www.youtube.com/watch?v=pgG88p7F98c

Sheggy13:

What do you mean by the big pharmas not being economically motivated enough to find a cure for it? Do you think countries find it as fun to shut down their biggest economies. Other viral infections like HIV and Hepatitis have been existing for decades without a cure, it's Covid that's barely a year you expect a magical cure overnight. People like you think scientists are magicians, saying lockdown is an embarrassment to Science when they've been able to come up vaccines in the least possible time. What would you have Science do? Conjure a cure from thin air?

Dude relax and have an open mind...things aren't adding up. China was first hit with this and in few months they expunged it from their country. How? By locking people in their houses?...Go to the streets of Beijing now and you'll find majority walking freely without a face mask. Yet that's the country with one of the highest population density in the world. You really want to believe they haven't found a cure for it? Understand the dynamics of health economics before engaging in certain arguments. There are no strong patent laws in medicine and the imitation gap is very short. These big boys aren't charity organizations and the internationally present ones will normally be sluggish to spend billions of naira in research for a cure when the ROI isn't so enticing. Whichever angle anyone looks at it, the conclusion remains the same - things aren't adding up.

The regular adoption of locking people in their houses to reduce the spread is an embarrassment to science. It's either there's a political undertone to it all or the big pharmas aren't economically motivated enough to find a cure. The whole thing smells funny and I'm not eating it.

For basic washing, exterior is more difficult cos of the tyres. The difficult part of interior is washing off the sands stuck in the rugs.

The anticipation of death is worse than death itself....

What happens to those killed in other locations?.

The monsters you fight against lives in most of you...