₦airaland Forum

afroxyz:
This is what I have been preaching to one of my colleagues. I advised him to open a stanbic mmf account. He is still foot dragging.

Even if he does not want to open a stanbic mmf account, let him open a CHESS account with them and put a constant amount there every month as a direct debit on his account if he is in paid employment. That constant debit will help him to manage his expenses. When he knows that an automatic debit alert will hit at end of the month, instead of him drinking 6 bottles, he will now drink one or two.

zamirikpo:
Talk about spending and saving at The same time. It's a win win . I Just pray the rates hold steady around 15% into tge new year.

If the rates nose drive to a level iam not comfortable with, i might just look at the Stanbic MMF. Since it is the same bank, doing a standing order might not be a problem.

Alikote:
if must Nigeria parent are like you then Nigeria would have been great but parent keep dowing thousand on beer,babes clubs etc

Most parents or most people do not really know that 'little drops of water make a mighty ocean'. I started doing the monthly debit when they were born. The first kid is now in JSS 3 boarding school and by the rules of the school, all JSS 3 and SSS 3 have to pay the three(3) terms fees and school bills once or maximum twice with January being the deadline to complete all payments. So i just did a 364-day tenor in August 2017 which was enough for me to settle everything once. The second kid entered JSS 1 boarding in September 2017. I also did TB with her own and settle all her fees. You are talking of beer, babes and clubs. What of the thousands being spent on aso-ebi every weekend?.

Investnow2017:
Open a Stanbic IBTC Money Market Mutual Fund for him/her. You wont regret it. While T/Bills are currently 15-16%, Stanbic MMF is currently 17.49% even as at today. And you stand the chance to benefit from compounded returns. Just my opinion, because it is working for me.

I might take a look at this Stanbic IBTC Money Market fund again as i currently have a CHESS(Children Educational Savings Scheme) account with Stanbic for my kids where i have a standing debit order every month end against my account with them. I normally allow the money to get to good amounts and then i move it to TBs for them or buy dividend yielding stocks.

spyder880:
Master bedroom walls in progress. .....

Are you tiling the walls of the master bedroom instead of painting?.

spyder880:
It's looking impossible at the moment, but I am continually hopeful. I need to host some talk shows in the village for our youths and coming in from town daily might be a little difficult. God will help me.

Good one on the talk show, These youths need to be constantly talked to and mentored.

spyder880:
More works ongoing.......

'Chief-to-be' spyder880 , e be like say you wan do xmas for this mansion.

following

dotcomnamename:
After asking FBN if I can top up existing Treasury Bills, below is their reply.

Good Day Sir,


Apologies for missing out your mail.


Kindly note the options available on your request:



Once existing investment matures, additional funds can be applied


Liquidate investment (penal charges apply) for additional funds to be included at the next available bidding


We require a signed written instruction (letter format) for any of the options.



[b]So, apparently before i can top up Treasury Bills, it is either I wait till my existing Treasury Bills mature or I liquidate and pay penalty charges. Nawa O![/b]

So what were you expecting?. Don't you know that TB is from the FG. It is like asking if you can give the FG money whenever you like for them to pay you interest when they do not need it. Na by force to collect money that is not needed from you?.

.

Izuogu1:
but no vex o! At what interest rate is it? #toolazytocalculatenow

I = PTR/(364 * 100)

I = Interest = 14,2017

P = Principal = 435,000

T = Time = 91

R = Rate = Unknown

I = PTR/(364 * 100) = PTR/36400

R = I * 36400 / (PT)

R = (14,207 *36,400) / ( 435,000*91 )

R = 51,7134,800/39,585,000

R = 13.06390804597701

R = 13.06%

jinwas:
Nope! trade won't settle, 91-Day stop rate is 13.10%.

91 and 182 days under subscribed while 364 was over subscribed. Many people still trying to lock-in for the long term.

.

phrancis99:
Bro, nor be fight.
and for the record I attended University Demonstration Primary School , UNIPORT and progressed to University Demonstration Secondary School.

Not Private where if you fail you will be promoted.

I don hear. Were your parents not aware of primary school leaving certificate when they jumped you to secondary school from Primary 4?. The question has always been 'why the rush'?. I can understand skipping one class but skipping two?. E get as e be. As i said, iam not sold on that 'super intelligent' thing. My daughter passed into the top catholic secondary school for girls in Lagos in primary 4 but i refused to allow her to go as i felt she was not yet matured for secondary.

MhizzAJ:
How will u get it when u left primary school at Grade 4

Where were u flying to
Parents will not allow their children finish Grade 5 or 6..they will just push them to sec.sch

You can go back to ur primary sch and ask

Just imagine Primary 4 to secondary school and iam sure he/she must have been 8 years old when he enter secondary school. The parent will be saying all the b*llsh*t of he/she is very intelligent. Who is not intelligent in private primary schools that are now on every street looking for pupils.

U1:
I don't even know my account officer, although I have been trying to do this at the branch where I opened the account.

The bad part is that the second nearest branch of the bank is about 20-30 minutes away by bus.

Is this in Lagos?.

U1:
Ma'am, did you invest up to N250m?

You may be surprised by the question. But that's what some apparently clueless customer care agent told me I needed to invest in the secondary market. The person told me I can only do primary market with less than that amount.

If there were any limitations, such are more likely to apply to the primary market. I was aware that the minimum for that was announced at N50m months back. Still, people still do lower amount. So I knew the agent had to be clueless.

I'm amazed at how people seem to get secondary bills at Stanbic with relative ease. I went there four consecutive days two weeks ago for same, but it was one story or another as to why I can't get the TB.

I actually got the erroneous or deceptive customer care response after visits to bank failed to yield something positive. To think I opened the account recently solely for this purpose. Fund movement looks inevitable as things stand.

If you are going through your account officer, stop. Just ask for the TB officer or you go to a branch that is not yours and ask for the TB officer.

emmanuelewumi:
If I start we may derail this thread. But it is possible with a money market mutual fund.

The money market mutual fund you mentioned is enough for now.

emmanuelewumi:
Nice one there. As per the consistency of 10% return from money market mutual fund, it is very possible.

Sorry about the below average performance by your fund manager.

I will appreciate a little insights. Is it purely on a Money Market Fund or a mix of Money Market and Stock?. I can gamble with my own funds for stock market but iam skeptical with gambling with those of my children.

Investnow2017:
Thank God for the compliment. I too owe my enhanced knowledge to the gurus on this thread who have and are still exerting themselves selflessly on behalf of all and sundry in the house.

Investing requires patience and discipline, discipline above all.

I just did a little calculation a while ago. Assuming I had opened a mutual fund with just N100,000 at an average of 10%pa 15 years ago and had been topping it up yearly by just N10,000, you can't believe that by this year 2017 my total account balance would have been N4.4m Naira! That is the power of compound interest! If I check properly, assuming there was the vision and some discipline, it would have been possible with my annual income since then, but the lack of discipline has simply made it a fond story meant only to be told, which it is now, really.

The culture of investing should form a veritable part of our school curriculum and should be handled in a demonstrable manner. Equipped with this habit, a lot of graduates would not come down with hopelessness as we see in the face of the rising unemployment in our society today.

I still believe our school curriculum is neither dynamic nor pragmatic. And it will remain so, as long as it continues to maintain a widening disconnect with reality. Financial Education is for all literate and educated persons, it should not be limited to only those who read courses related to it. And don't be surprised, even many who had read courses bordering on finance still have issues putting their knowledge into practice, only because they had received their education as an abreast experience. Sad.

Cheers all. Trusting the new generation work its way out of this unreality!

Is it possible to get 10% consistently for such a long period as 15 years?. These mutual funds invest in TBs also and once rate is down, it will have an effect on the ROI.

When i had my child, i opened a mutual fund for him with First Bank and was consistently paying a certain amount into it every month with an eye on at least 10 years when he will enter secondary school so that i can least fund his boarding education in case. After some few years, the total amount i had put in has been so badly eroded and when i asked them the cause, i was told that the amount was invested in the stock market and that was when stocks were down with no hope of rising. I had to cut my losses by terminating it and move whatever amount i could get to a savings account after balancing up the expected total amount with an additional amount. At least, instead of the money to be dropping on a daily basis, savings account had the principal preserved. After learning of TBs, i have now invested the amount in TB while still continuing with the original monthly payment. Na me dey take charge of the money by myself now. Before i look at a mutual fund, i will have to be sure that it is a fund that does not invest in stocks as stocks are too volatile.

Now coming to the teaching of investment education side, parents should teach their children since it is not available in our curriculum. If my parents had taught me as Papa Landlord, Pa Emmanuel Ewumi parents had taught him, by now, i would have been richer than him.

cutiereborn:
Guys I am at FBN now. Just got secondary market - 100days for 14.5%
See how fast I am filling the form.
They don't have 90days and the 85days and 73days are @13% each.
Hope it is a good buy for 500k going by the fall in rates currently?

Chai, e be like say na fastest finger now for secondary market.

anitank:
Just left first bank now. Had to go very early because people are not smiling anymore

Although I wanted anything above 300 days but I got 269 @ 17% and grabbed it immediately.

Got debited and now waiting for my interest

Very smart unlike some people that will leave it and come here to ask if it is okay knowing fully well that rates are going down and the juicy secondary market is shrinking.

feelamong:
The One year rate is a JOKE...

Before nko. Did you see the Offer, Subscription and Allotment amounts of 68,184,887,000, 465,731,963,000 and 106,370,499,000?.

cadno:
Oga Wanaj0, welcome here Sir, I be one of Ur Boyz for SMN days oo

This one wen everybody dey greet Oga Wanaj0, make i also follow greet before he will go and borrow that his friend Security Guard on minimum wage to come and beat me up.

Manonamission:
https://www.dailytrust.com.ng/nigeria-attracts-22bn-fdis-in-8-months--nipc.html

http://www.businessdayonline.com/ie-fx-window-records-1-3bn-highest-ever-weekly-turnover/

I suppose it's not exactly what you asked but it's insightful too.

"Chai! see one of my big boss below in red. there is hope that one day i go see dr. abraham here"

He is also my big boss o. I dey suspect say you be one of my big boss too.

emmanuelewumi:
Funny guy. It appears you love cornflakes, I hope you also invested in the cornflakes company ie Nestle in 1980.

You should be a Naira billionaire, if you did.

How old was I then?. Btw, a bottle of coca cola was 10kobo then also. Did i invest in coca cola then?.

If Nigerian had invested in refineries when fuel was 60kobo, imagine how much the FG will be making now.

If somebody had stock piled USD when exchange rate of Naira to USD was N1 to 1 USD, the person would be a multi Billionaire by now.

emmanuelewumi:
I am sorry, 300k would have bought a V-booth in 2000. I doubt if anyone will buy the car for 300k in 2017.

I bought corn flakes for N1 in 1981. I doubt if any one can buy the same corn flakes now for N1. .

emmanuelewumi:
I Invest primarily for cash flow, capital appreciation is secondary.
I Invest for dividends, rental income, interest and profit sharing.

I won't advice starters to invest in real estate because of the quantum of fund needed to invest in it in Nigeria.

But as your investment portfolios start growing in leaps and bounds it is very to diversify into real estate to preserve capital against inflation. Land bought for 100k @ Ajah in 2000, now sell for between 10m and 15m.

Search for my alternate nairaland monicker ie "manie". to read more about me.

Thank you.

Baba landlord, you don come again with this your 'x bought for y amount z years ago is now .......'. What of those not born then?.

opomulero:
I pray rate go higher in the next auction day october 3rd

So you think that if bid is 1 trillion and CBN wants only 100Billion, rates will go higher abi?.

deepwater:
Deepwater is back!!!

So where are we....

We are inside deep water of TB rate.

PhilJames:
365 was a typo mistake. 364 was the rate I bidded for in the primary market...

The rate or tenor?. 364 is the tenor and not the rate. Did you bid with your own rate and if yes, what rate did you specify?.

PhilJames:
My 365 days with FB failed as well

Went to First Bank today to buy secondary market, was told 364 is available for 15%. Had to run with my dear life

There is nothing like 365 days TB. You only have 364 days.

If FB said that your 365 days failed and that 364 is available, it might mean that you specified your rate when you were bidding and FB succeeded with their own rate for 364. That is the only headway i can make from this your post.