₦airaland Forum

TONY56:
When was Stanbic shaky?
If you don't know, Stanbic has always been No1 or No2 for a long time despite the fact that they don't have up to 1/3 of the branches of First Bank. Refer to their share price at the stock market if you are in doubt and you will see that it's either Stanbic at the apex or GTB.

If what you are looking for is a Nigerian Bank that is strong and reliable, then think of STANBIC, GTB & ZENITH. FIRST BANK is very far behind these 3 banks.

I saw that post and had to laugh.

I have been banking with Stabic since when it was Chartered Bank. From Chartered Bank, it became CharteredIBTC and now StanbicIBTC.

I get a call from them once in a while to ask me about my experience using them espercially their eChannels.

RealityShot:
thank you..
am so unhappy right now.. I asked them to do it in my presence, but they asked me to go in peace.

now i just got a message that i can't move more than 20k from my account!

am going there later today to scream a bit...

C4Ltd: so many bottlenecks in this country O! I weak!...

What type of account is that or were you the one that imposed such a condition?. My boss in the office has a condition on his account that disallow a transfer of any amount above 100k from any transfer source. Even online purchases.

Ibrahim505:
tbills interest fluctuates and while this is fixed throughout the duration. Investing 2.1m in the bond while compounding the annual interest will makes your money grow to 6.2m by maturity.
Among many reason the rich keep getting richer.

How do you compound the interest on a bond when normally it is paid to you quarterly and there is no provision for re-investment of the interest being paid to you?. Even in TBs, not all banks do a re-investment of the upfront interest. Is interest on this SUKUK bond being capitalized?.

handsomebolanle:
Guys... Please I need a quick advice and I will appreciate your contributions..

My mother invested in mutual benefit 2013 (I guess most of us around my family weren't enlighten by then)...
In summary she was to pay 5k per month... She was only able to to 10months out of 60months... She tried terminating it but they said it wasn't adviceable..
Fowrad to today... We went last week and we were told that we will be sent a voucher of our payment...

On seeing the voucher now.. What we had is 37k.. Please what kind of investment is this??.. Any help or advice... ..

Maybe it was mutual funds which is invested mainly in stocks and not money market fund.

I started out my kids fund with First Bank mutual funds. They never explained to me that it will majorly be invested in stocks. After contributing monthly consistently for several months and asked for my balance, i was shocked to be given a less than the amount i had contributed and on inquiry, i was told that the money was invested in their stock mutual fund and not money market fund and that it fluctuates based on the price of the stocks it was invested in. That was how i terminated it quickly and moved it to a kiddies savings account after augmenting the shortfall with my own money.

Internetboy:
Is it better to reinvest the upfront interest rate, use it to buy dollar or use the upfront interest as daily expenses because you must spend money daily.

Which is more economically wise.

It depends on your needs. I have two TBs running and they are normally in August/September. I use the upfront interest from the two to pay my kids first term school bills. They are in boarding house. My plan is to increase my TBs amount so that FG will start paying my Landlord as my rent falls due in October.

ahiboilandgas:
u can still drive a Mercedes 2012 it very ok and lease a range when their an outing.....am spending part of my interest to enjoy my life ooh my friend just died around 2012 and his family sold his house for 145m and blew the money ...the rent was around 7 m.yearly ..he hustled till death driving a 190 Benz and a pickup didt enjoy his money....this brothers and kid bought 5 latest cars 2 years after his death with his money....other move abroad

I can bet you that he never had 10% of that 7m for himself. The reason why he was driving a Benz 190. His family that sold the house also knew when he collects the rent and so know when to swoop to present their problems with the word 'shebi you just collect rent'.

tritritri:
Bros na wa ooh...t[b]he owner (my dad) has the C of O and he's alive[/b] .. the issue is btw real estate and t.b.

That means it is not a family house. Why i wrote that initially is that i have seen family houses where rooms or flats were shared to each child. You can only sell your room or flat. You cannot sell the entire building without the consent of other owners.

Btw, i know the issue is between real estate and t.b. Other things come in between. There are some properties that you see lie wasting and you wonder why it has not been sold. Some properties are not easy to dispose.

tritritri:
It a family house ..Meanwhile Is it not the same nigeria? Where price r inflated everyday naira becum worthless ? cost of living on the high yearly..

A family house is not easy to sell especially if there are many people tied to it. You need a consensus from everybody tied to it to sell it. So you might have a situation whereby you have an appreciating asset that cannot be sold.

unite4real:
So it means if u eventually sell the house, you will spend the proceeds within 12 months abi. Why will you conclude that TB interest will just be spent without reinvested. People are not same in terms of investment culture. I always compound my interest.

No. The proceeds will not be spent at all. It will be put under mattress where it will be looked at every morning.

tritritri:
The house we bought at 30m same 4.5 years was been negotiated for 61M , 6 no of 3bedrm. we not even in a rush to sale it as we waiting for higher offer. the last T.B i did . i spent the interest within 3mth.

Within how many months did you spend the rent you collected on the house?.

ShockMajor:
Please this treasury bill stuff is really confusing to me. Bt to summarise can someone just answer this question for me explicitly.
If i put 1m in treasury bill for 91days with interest rate of 10.95%, and 1m for 182days with interst rate of 13.16%. How much interest m i getting respectively minus my capital. Pls guys just the value, if i get the value, i can reverse engineer the math n understand the flow. So no need to solve/explain, someone should just tell me the interest ill get. Thanks guys, m waiting for replies. God bless you all.

Druss:
Formula is simple. Interest = Principal x Rate (in %) x Time (in years) X 0.01.

Use this to check.

use that to get the interest.

sunnydayasaba:
Nigerians don't understand, it's not house that appreciates, but the land. An empty land well fenced and gated will appreciate more than a house built on the same location because you don't have any maintenance cost associating with a land like a house.

So if you decide to invest in a property, buy lands and secure them very well, that way of you decide to sell, You will easily receive offers and good offers for that matter.

Well said. You need to see some dilapidated houses and i wonder if such houses are appreciating as people keep saying or depreciating.

feelamong:
If only people know the amount of Properties that AMCON and banks are carrying about and looking for people to buy and give them cash for...

But then one needs to check a lot more before actually ditching house for Tbills.

many that invested in houses in Lekki area are till now praying for someone to just pay at reduced price to give them cash flow

Let them come to Apapa and see the number of vacant houses. Many offices, schools and people have left the houses there. Nobody is buying nor letting. What is the usefulness of a house that is 'appreciating' without any hope of being occupied in the future.

veneza:
not everybody knows when you collect rents if you don't tell them,because you can receive rent from your tenants anytime of the year depends on when they have cash available to pay in some cases.
also you should know that the rents you receive is your interest not your capital, the property is your capital because property appreciate with time.
my advice to you is to be saving all your rents and then invest it in treasure bills then you have doubled your interest, even if it's small interest rate but in the near future when starts enjoying it I hope you remember.
Am telling you this because am doing same coming year,I just found out about Tbills I have to keep learning more before then,not all that glister are gold.

You only get the cash when you sell and most people do not sell and when they die, property goes to the children for which you can see litigation if there was no will.

Diyke4rich:
Guru's in the house i have been following this thread for a long time now i need am advice, i have a house in lagos that the rentage is not that good compare to what i paid for the house or renovation after a tenant move out, i wanted to try out this treasury bill i have a house in asaba if i rent it i will not make what i will be making in treasury bill, please guru's its advisable to sell one of the house and invest in treasury bill.
Thanks
Your contributions will be highly be appreciated

It depends on what you want. There are people who liked to be called landlords (aka baba landlord) even if they are not really making money from their properties. Once you have a property, almost everybody in your family knows and they know when you collect the rent and that is when each and everyone of them will start coming with his/her problems for you to solve for them. If you say, you do not have, they will say 'shebi you just collect rent'. Before you know it, the money is finished with you wondering what you used the money for. That is when it suddenly dawn on you that the next rental is at least 11 months away. With TB, nobody knows if you have money. If they come around, na you go first cry say the country hard. Once you first cry, they will no longer be bold to tell you their problems. They will just say 'please just help me with anything'. Na so you go just give the person small thing from your TB upfront interest to help the person.

Kechbeau:
what does MMF mean?

Money Market Fund.

for further reading see:

https://www.nairaland.com/1912965/mutual-funds

Kechbeau:
good day house, please I'm new to this TB investment. can I start with 50k(abeg make una no laugh me)?
and which bank offers the best interest rate. I bank with GTb, access, fcmb, n fidelity. I will appreciate if anybody responds.

I doubt any bank will take that. Why don't you move it to MMF and continue to build on it gradually and periodically?.

spyder880:
Still same at about N2500, depending on the style chosen.

N2500?. I was given a quote of N3700.

rotecch77 , please what is the price range now per square meter to do POP?.

Donbrig:
There is public holiday next week Tuesday.. When is the next treasury bill auction?

What is the public holiday for?.

Oga spyder880, please what is the price range now per square meter to do POP?.

Grupo:
Hahaha. Let's do it this way.

Dash me 1m, let me buy Tbills for 91 days. I will pay you back your capital after 3 months while I use the interest to do Christmas for village this December. Lol

Shuoooo. How can i dash you 1m to buy Tbills when i dey read this Tbills thread almost every minute.

dammy222:
Lol..
Pls who knows the next auction date

November 28 is auction date.

See attached calendar.

Grupo:
Nawao. The money wey Tbills pay me in mid October for my 91 days purchase, I don chop am finish. Chai. And we are still two months away from the maturity date.

I fit give you loan sha with the TB as collateral so that you can continue the chopping.

dotcomnamename:
Yepahhhhh see knowledge... No issue based conversations with single narrative replaced with emotions and personal opinion. Honestly we need people like you here and on MF's thread.

Mama Nkechi, please give this man two cold bottles of Big Stout and a plate of Nkwobi. God bless you jare.. That's it but watch the indomie generations masturbating on this again. Just watch.

I hope you are not using your TB interest to pay for this?.

GonFreecss1:
Hahahahahhahaha.

I am now the villain. Chai.

Never told people not to buy Tbills. Never said Tbills was bad. I only stated facts. I also have money in Tbills. Is Tbills safe in terms of getting your naira back? Hell yes! Never did I say anything about the Nigerian government not being able to pay Tbills. All I did was state facts, including the mindset about hoping for higher Tbill rates and it's implications.

How is all this Negativity? When did the truth become Negativity? When did logic and facts become negativity? When did making people understand what they put their money in become negativity?

I didn't want to talk about this issue again, all those taking shots at me, can you point to one single thing I said that was negative? Can anyone point out to something I said that wasn't a fact?

I didn't want to do this, but why don't you go check the Tbill rates history for the past years, then calculate inflation for the past years, then include our devaluation with respect to the dollars or any other currency, let us see the current buying power. We could buy the big Samsung and Apple phones for 80-100K before, now they cost more than 300K, this is not even counting our inflation, just what the value of our naira did to us. Even if we include the US dollars inflation, we shouldn't be paying more than 130K for this phones. Yes doing Tbills will make you far better off than an average man who doesn't make his money work, but brothers and sisters in the house how is your buying power? Let's be honest. For a country that imports a lot, many of you don't want to know the price of this things you buy, they are far cheaper. The shipping fees of this things are priced in dollars too, lol.

I will say this again, is Tbills safe in bringing back your naira to the nearest perfect kobo? Of course, but what will never be sure is your buying power or wealth. I mean it's like saying cryptocurrencies that are PoS are safe investments (Proof of stake (PoS) a form of Blockchain process where the amount of coins you have determines how much the network will pay you for securing the network, it's even trust less and decentralized, nothing is as safe as that. Nobody even has to hold your coin, you are in charge and can remove it anytime, some PoS pay the same rates as Tbills). I can't come and brag that because I will always be paid and my capital is always secure that it's safe, because I know the actual value will be determined by supply and demand, and inflation too, because the process of rewarding for securing the network is inflationary.

How is this explanation and the ones before negative? This argument started when someone quoted me when I said Tbills can't make you rich. I even argued against people who said they preferred businesses (some brought up truck business) to Tbills. I even gave an example of a friend who laughed when I suggested Tbills, didn't put his money in Tbills for over 2 years and how he eventually started spending that money. Were all this statements negative? I even said I actually do Tbills! Lol!

When did it become a problem to advise people and drop my own opinion on what I feel is the best thing to do? How does that make me the bad negative guy?

If saying facts and simple logic is negative, I rest my case, but please all those taking shots at me should take note, I never said Tbills is bad or people shouldn't do it.

Chinese phone of that amount dey for market now. Must somebody use Samsung or Apple phone?. Na only celebrities dey use phones of such amount.

Just2endowed2:
How can one start mmf and which bank? I use stanbic

check this thread for MMF.

https://www.nairaland.com/1912965/mutual-funds

skimanski:
I’m sorry sir. If communication hasn’t been proper. I take full responsibility for that. I was caught up in the challenge of trying to juggle a lot. You can see postings on Nairaland has reduced a lot. Even new sites haven’t been posted yet. Most site have even gone beyond what’s been updated.

You know as a young man I haven’t done this at this scope before, so wouldn’t prepare for the challenges that come with people wanting your services a lot. We are trying to ensure we retain our brand with is Ultimate and also trying to increase our teams so that we can serve everyone like it’s just them only. At the same time we want to ensure increasing our teams doesn’t affect our brand, which is the main reason why I am been contacted.

Abeg make una help us grow, by always letting us know when we do anything wrong. The honest truth is we want to satisfy all. But you know how crushing that can be.

We are sorry for the communication issues, and we have improved recently, true training of new staffs. But with your support we will get there.

@diehard note that @obosa1 is my sister. So my issue is personal to her. Our relationship is very very different. Our love is strong no matter oo.

But @diehard boss, if communication with you was poor, pls forgive me, my hands are gradually been free. If you contact me back, I can get something as a compensation for you sir, even if na to come help sweep your house for one week.

Thanks sirs.

Nice one skimanski.

Abeg, make una forgive am. If he no improve communication going forward, I will go and report him at the palace of Oba Ewuare II myself.

GonFreecss1:
Are you saying the big 4 were involved in auditing those banks? If it is as you say then we can as well just remove all our money from all banks, bonds, Tbills, money market funds and the stock market and put it in Bitcoin as it's trust less. Though I will need to do this research, because this is a very scary thought. Something many people are not thinking about.

I do not know o. Do not also forget that the CBN and NDIC also regularly examine these banks.

Cast your mind back to the time of the stock market bubble where companies were well packaged when they are about to come out for public offers. That was when you will see a stock gaining the maximum percentage on a daily basis even without any new information about the company. No be today dem dey 'cook' books for Nigeria.

GonFreecss1:
Hahahaha. Honestly I don't know. I will need to verify who their auditors are though. I trust the big 4 than most other audit firms, not saying they are perfect but at least we can be sure they won't be as foolish to go overboard with their book cooking.

Are you sure?. Who were the auditors of the several banks that had failed and collapsed?. Who pays the auditing firms?. CBN or NDIC or the Banks they are auditing?. He who pays the piper dictates the tune.

GonFreecss1:
I would say it depends on the micro finance banks. The only Microfinance bank I can trust is NPF, and that's because I can see their books and know how much assets they have, profits and other things so they basically look strong and don't seem like the type that can go burst anytime soon. With that said, putting your money in a micro finance bank you don't know their financial standing and liquidity is a risk. My advice is to research the bank well, and if you are satisfied... go on and do it. Another thing to note is, such high rates means they are desperate. You only have to look at the primary market to see how much CBN is selling the original thing. If Stanbic and co have lower or equal rates, why should a small Microfinance bank have something higher? There are so many stories that touch with micro finance banks. Do your proper research and after you are satisfied with your findings make your conclusion... but my own conclusion is those deals even though they are juicy, reek of more risk you don't need for a few extra %.

You have seen their real books or their 'cooked' books?.

GonFreecss1:
I will start with it being an open ended fund. Meaning, you can keep adding money easily. You don't have to buy certificate 1, then Tbills certificate 2 etc. You can just add money anytime you like, you can add as low as 5k. Anytime you have any money playing around, you can just add this to the account quickly. And the sweet thing is you can also withdraw your money easily without penalty so far you have allowed your initial amount stay for 1 month.

But the main icing on the cake, the sweetest deal is the compounding. Tbills even if you decide to roll over or compound matures every year or 6 months or 3 months, depending on what you are doing... but money market matures continuously. Stanbic gave theirs 1 month, what this means is your interest from the first month can start compounding to get you new interest. Let's assume the money market rate is 10%, and I put 1.2 million naira. This means I will get 120K after a year, this also means I will get 10K per month, the sweet thing is those 10K i get per month will immediately be rolled over and start compounding too. Also you have advantage more than people waiting to compile their money to 1 million by the end of the year. You can start adding as low as 5K from the beginning of the year and the compounding can keep you ahead.

I hope you all understand?

Remember the rates are lower than Tbills for now, could be higher in the future or be the same, but the flexibility is what is going for it.

Nice insights.

Money Market is a nice way to start small and gradually build up your funds for TBs.