₦airaland Forum

X21:
yes dear

Interesting but not charging COT on that will be short changing the FG on the VAT component of the charge.

X21:
i do this every time. there is no charge with GTB. i do not know about other banks. keep an open mind and ask relevant people

You mean if you transfer money from your GTB Current account to your GTB Savings account, COT will not be charged on the transaction?.

LagosInter:
Thanks

What do you think about this below please?




Please will this your idea still apply if it's a corporate Current account?

Like Can I move funds from the corporate current account ( business name registration) to my personal savings account maintained in the same bank and it will still be Cot free?

See my response in the post before this.

X21:
if the current account is in your name, open savings account in the same name. move fund from current to savings account and then disburse from sa vings account. current to savings is COT free

This will not solve the problem because COT or Account Maintenance charge is per transaction. So if he was doing a monthly cumulative debit of N10m disbursed several times, he will still need to move the N10m at once to the savings accounts. The 0.1% COT will still be charged on that one time N10m movement from the current to the savings account.

LagosInter:


Which bank charges low or NO charges on business accounts?
Either individual or corporate business (current) accounts please.

[b]Gtb wants to kill us, they take10k on each 10 million that touches the account.

If I mention what they have withheld this month alone, you will pity us.

Please help.

[/b]

This is a standard charge fixed by CBN for all banks. It is called 'Account Maintenance Charge' and it is applicable to any individual or corporate Current Account. It is N1 for every N1,000 or 0.1% of transaction amount.

If you transaction volume is high, you can negotiate the rate through your account officer.

chigo4u:
While Otedola left the oil business, Elumelu, Dangote are entering into it. Interesting times

Otedola was just importing and selling. Elumelu and Dangote are not into importing and selling. Otedola knows that with Dangote refinery coming up, the days of importing and collecting dubious subsidies is over.

TransAtlanticEx:
Oh please,he is being hopeful for nothing and not realistic.
And he is stupid and naive too,too naive to see the bigger picture.
I'll pass.

If you are not hopeful, then why are you still here?. Why you never jakpa?.

ojesymsym:
Your sense of patriotism and optimism is greatly admired.

You have a very positive hope for the country, even when you err, it is always on the side of positivity and optimism.

For a nation with citizens only interested in asset stripping and negativity, you sure make a hopeful exception.

Some of us do not have any option than to be optimism about the country because UK, Canada, US, Australia, Ireland will not be able to accommodate all of us. So some of us gotta remain here.

awesomeJ:
Student Hostels.

Schools have been shutdown for close to a year now.

youngmartha:
I don't have your time, grupo. So, "go and meet your pastor/imam" is the practical advice that I should have paid? If you can't help me, kindly read and leave.

Thanks

I don send you N1m. You never get the alert?.

DaBogu:
Young Z, I gave you practical ways to make money.

Why bother with him?. He wants the easy way. He thinks everybody here was born with a silver spoon. He does not know that some people were serving bricklayers at building sites or carrying load in the markets to be able to make money to pay school fees.

emmasoft:
Yes work is on it. It will be credited and for those with reinvest option it will be posted with the reinvest value date as 1st of January.
The extra is not paid immediately it will be in some months later. The extra for first half of 2020 ie Jan to June was paid Dec, 22nd 2020.

Why does this take such a long time?. We are now in IT age and things are even faster in Nigeria with BVN.

Do not even also see why those with payment option should take time if actually interest is accrued on a daily basis.

ojesymsym:
Sir, if you keep equating MBA with Forex, you may take same risk with same result. Most of these guys that claim to trade forex with consistent 20% do not really do any live trade.
During the early craze of Forex in 2007/08, there was a lot of hype about the magic of forex only for people to discover that the trainers only made money from training (like the executive class you say is starting on the 11th). Since that 2007 till now, I have never met one person that made money from Forex and did not lose it. Most lose their account, those who have some form of success will tell you that they were successful until they made a mistake and their account got blown.
Personally, I intend to have fun with forex as a pastime soon, but not with any amount more that $100.
Why am I taking out time to try to prevent you going into forex? Simple, because you have lost money from it already and I suspect you have entered that dangerous mode than gambler get into when they loose money, they always believe they can win it back, but in the process, they end up sinking deeper and deeper into more loses.
Since you are very busy with work, just close eye and buy Zenith bank shares, it is still at 10 EPS even at the high price it has even today.
Dec FG bonds was even 12% last month with 50 million be minimum subscription. You still get options bros.
I personally use to learn from the matured Barrytone moniker contribution, do not allow emotions and pride lead you into losing your life earnings, all those guys calling you bros in the area will be the first to start saying "wertin he use he money do sef".
I know it is not my money or business, but na God I take beg you, don't listen to internet marketers who promise you heaven and earth with forex. Remember your old principle of slow and steady.

Shuoooo. Why you dey beg am?. He talk say na him money he wan risk. So allow him to risk it. If one person own no spoil, another person own no go better.

ojesymsym:
In theory, they should be able to cash out but human nature is not usually like that, most times, they will plunge back both capital and profit into the scheme for the BIG KILL which will increase the risk of losing all.
Some others do not really withdraw it from their wallet, mistaking wallet money for money in hand.

Dem think say eWallet na like physical wallet.

jobark:
The smart investors gamed the mba system. They have “cashed out” more than what they put in and are on green. They have coasted home. It’s just for them to clean mouth and on to the next one.

The biggest “potential” losers (since Maxwell is still giving them false hope) are those who will have more money in mba forex than what they have taken out from the system when reality downs on them that the system has collapsed.

My sympathy goes to those who did the plan that only pays 50% ROI in 3months interval (most people started off in September), it was a well calculated strategy by Maxwell as he knew from the inception of the new plans that he wasn’t going to pay those category of investors a dime.

The early birds always cash out.

emmanuelewumi:
A retiree put N20 million, his retirement benefits into the scheme. It is obvious the man was not investing while working.

I hope the man does not die of HBP because of this.

Who advised him to put his money in such?. Any retiree that puts such an amount in such a scheme means he/she was not just a worker but must have been high up. So he/she should have known better.

seyisanya:
Stanbic has a minimum of $20,000 entry deposit and the same amount per top-up! United Capital has a minimum entry amount of $1,000 then subsequent top-up in multiples of $500. I think UCAP(investnow) has the best YTD rate(7.5%) in the dollar-denominated mutual fund market at the moment. FBNQuest minimum initial investment is $2,500 and subsequent top-up of $500.

VDF is not so clear to me. Oga Emmasoft to the rescue. I think you need an initial deposit of $25,000 but not sure of the subsequent top-up amount required.

I pray I don't get banned for this response

Is this Naira equivalent or raw dollars?.

ojesymsym:
A nation of excuses.
One guy's comment on a thread really struck me. He said that successful people in Nigeria are verbally attacked because they expose their incompetence and laziness. Attacking them is a form of way to justify why we are not as successful and so have to come up with excuses for our failures as a people.
The attack on Dangotte may seem personal and tribal sometimes but it is more of a self protective mechanism. A face saving measure for our failure.

In my place, it is called 'self consolation'.

mufutau55:
You know say nah your footstep I dey follow.
We both like better thing o. Long time ... How you dey Sir.

Hajji M.

Iam fine o.

Iam very impressed with this lady's work.

freeman67:
It should not be that way. Investor are given dates of rental payments for a reason. Millions of people invest in treasury and get their pay back on due date except it falls on weekends or public holiday. The due day for this was on a business day and it didn't come through. I had plans for the coupon and they have scattered it. Also the 2 days delay is to attract something too. If it is to be paid in batches collection would have been in batches too. Everything about the payment should have been arranged before now.. They had 6 months to do it for God sake..

I will suggest that you write to Morgan and tell them that you are taking up the case with DMO and CBN. With NIBSS, credit to accounts is now in seconds. How many people did the SUKUK bond that payments is in batches?. Companies have more shareholders than those that did the SUKUK bond and dividend payment is immediate to those with eMandate.

mufutau55:
Following...

Hajji M.

My Oga, you too don land for this place?.

Make i go hustle as i like what iam seeing here.

.

TransAtlanticEx:
to pour sperm either for girl body or your right hand based on soapy levels.

Chai. I be small pikin o.

9jatriot:
U de laff, after I don stake and confidently talk say u are now a man of peace, u non fit steal let the matter rest?
With respect to theories, what makes you think you were even the one referred to, I see more theories in Dexter than you. Say u get finance background or experience non mean say those wen de sell for alaba, ariaria or balogun market non fit teach u one or two things

No mind this Lazyyouth4u. I will go and remove all the 'likes' i have put on all his posts since the the day of the assumed change.

maishai:
NaijA, we so love bragging rights

I thought that war was over.......

Let's all try to avert the 1914 event rehappening in 1945

What happened in 1914?.

ahiboilandgas:
He couldn't not explain ....so we started checking all his payments.....2m advance for BMW.x3 ,1m advance payments for Peugeot 307 for wifey, 1m expense to brother for .marriage expense , 1m to cousin for marriage .....so I stop checking ....and concluded Nigga was forming rich and was outspending revenue ...

The problem is that most Nigerians always equate cash flow as profits. They think the account balance of the company is personal money.

Some years ago, a former colleague told us a story of his sister's poultry business. After his degree, he stayed with his sister while searching for a job. So he decided to help the sister manage the poultry business as she was complaining she was not making any returns from the poultry business. The guy decided to observe the business and discovered that the sister was always dashing uncles, aunts, church members etc eggs, chickens etc. At the end of the month, she will claim that there is no profit made. What did the guy do?. Anytime the sister tells him to give somebody any of the products, he will register it against her name. At the end of the month, he went to the sister and told her she is owing the business such an amount. The sister shouted saying that how can she be owing her own business. After further talks, the guy suggested an experiment of placing the sister on a salary or allowance and at the end of the month, there will be a net off of what she used as goodwill. After the first month, the sister's eyes were opened and from then onward, she became very careful is dashing out the poultry products.

https://www.nairaland.com/6314620/crowd-besiege-makurdi-stadium-ponzi

Nigerians getting scammed in ponzi schemes since 1900.

9jatriot:
Sir, does it sound insulting? If it is let me remove it cause dat is not my intent.

No ooooo. It is not insulting. Just too funny.

9jatriot:
Na wertin carry all of us come here too na, abi dem de pay some people here. Christmas de come and I never buy christmas cloth

Anyway, u de try. Apart from that initial system glitch when u de cuss upadan, u de contribute well and also not scared to ask difficult questions.

At least from the way u handle Dexter, u don de try more. After u draw the guy leg comout, u come slow down for his matter, but Ahib, u cuss am, cuss anyone when try to slow u down.

Anyway, make we non derail. Enjoy

Grupo:
Hahah. I dey fear abeg. They will easily trace. I am still too young to become a fugitive.

Cash out and then go and buy a citizenship in the Caribbeans and retire there.

igbizen:
I am beginning to like this lazyyouth
I like to buy you a plate of ise-ewu...No mind that guy way dey give analogy wey confuse my head

The guy get correct points. E be like say na when Ahib appear for forum, him head dey scatter. I dey suspect say he and Ahib drag one babe and Ahib defeat am or Ahib take him babe.

SamReinvented:
It’s quite ironic that you’re “pointing me” to threads, but you can’t “point” derailers to the appropriate threads for their discussions. I see you don’t get the point about order and following rules... Not that surprising though, as that’s sadly the bane of Nigeria’s existence. So your mindset fits.

Anyway... In order not to fall into the same hole that I’m cautioning people about, I’m ending my explanation here. If you still don’t get it, I can’t help further. Farewell.

Bye bye o. You will not be missed.