₦airaland Forum

Educationalserv:
Debit Notice on former investment or going forward.
It mIght change
30 percent CGT suspended
15 percent fuel levy suspended
It remain 10 WHT on Fixed income

Risingcash94:
Thank you @freeman67
You are kind for taking your time to explain in detail. Bless you 🙏

awesomeJ:
Please can you share a link to this?
We're expecting the figures to be released by Monday or tomorrow at the earliest.

awesomeJ:
Nairametrics just released stats showing that only Zimbabwe has a higher monetary rate than Nigeria in the whole of Africa.

You know that Zimbabwe where you need like 1 billion of their currency to buy a loaf of bread. They basically had 100 trillion note at some point.

Na them Cardoso dey follow

They need to do at least 300bps!

nairavsdollars:
This FCMB is such a worthless, useless bank 😠

RayRay06677:
Please attach figures to this comments.

How much and which bank?

Kindly drop their possible rates, thanks

NL1960:
20% on a FD with a commercial bank. Too good to be true. Is the commercial bank cash strapped or is the amount you want to fix so huge?.

freeman67:
The way it's going now, the advantage TB has over Fixed deposit as regards interest is almost eroded. 20% for 3 months FD, TB will not give you that now. Also, another advantage TB had was that it was initially exempted from WHT but now they've started collecting it so the 20% minus 10% WHT on the interest is 18%. I am not sure you will get that from 91 days TB which is about the equivalent of the 3 months Fixed Deposit.

The major advantage TB has generally is the risk free nature of it. Even dough doing Fixed Deposit might carry more risk, the tenure you are looking at is short and it is with a Commercial Bank not a Microfinance Bank.

Based on the above if I am to be the one, I will do the fixed deposit instead.

Geist:
I am wandering if anyone knows how charges for inter-member transfer works. I had a stock broker charging me 10k for this transfer. The portfolio been transfered isnt even worth up to a hundred thousand naira. Mind you this is the broker im transferring from. I know there are transfer fees involved but 10k?? Is there no regulation on such fees? At some point the broker even threathen to increase it by another 10k.

tundebasic:
There is nowhere in this report that says WHT will be from the interest. It says WHT will be deducted at maturity. Isn't this what I'm seeing?

aieromon:
Attn.

Risingcash94:
Thanks. Mine just matured and dropped and I immediately transferred it to another account with nothing left in the account.😂
Have I escaped it?
It's GTB

enque:
what if interest was taken upfront?

Risingcash94:
But do they have the right to tamper with one's capital when it wasn't part of the agreement when the investment was made. Are they taking 10% of my capital?
Also is the tax calculated annually or according to the investment tenure?
I have a maturing tbills tomorrow. I wouldn't want my capital tampered with. This is enraging fr😞

Streetinvestor2:
I have done with FBN and Stanbic for TB.They didn't charge me WHT.Na only bank I trust for fixed deposit. I no fit shout.
The retrogressive aspect of cgt is the must stupid idea .Who those such nonsense after all this yrs of devaluations.So if I decide sell my ucapital now.you will remove #1 as my cost and calculate the remaining money as profit to hit ur 10 million as tax benchmark. Is that not madness

Streetinvestor2:
TB that is 17%.They will still collect 10% wHT on ur interest. Fixed deposit no dey pass 12-15%
Make una no worry I sabi this government. They will soon sack that guy and suspend the CGT or make the starting point as price on first January 2026.
They don't know how to reason before they act.Na try and error dey carry come

freeman67:
It's only possible if you subscribe via secondary market.

Reasons why I think it will not be possible through the Primary Market Auction are:

1. You are expected to submit you investment request latest on Tuesday which is today not on the auction day.

2. On submission, your account is vetted to ensure the availability of the required funds immediately. Some banks like FBN will take it even further by taking the money into custody immediately.

3. The probability that the maturing funds will drop on that day of maturity is not 100% these days. Sometimes it could still take about 1 or 2 extra days before the funds drop so.

So there is not way the bank can put you in their plan for that auction. Your best bet will be to reinvest at the secondary market. The only disadvantage is that the rates will be a bit lower and the tenures might not be up to your desired tenure.

heavenisreal18:
Pls next bid is Wednesday my investment will matured on Thursday, is the money I am expecting from my last bid I want to use again,my question is can I go and fill the form down .Or I will have to wait till another two week to bid

leo1234:
Is fixed deposit better than MMF?

richgang:
which banks don’t charge WHT . Gtbank took 10percent from my profit as WHT . .

freeman67:
WHT wey they don dey collect for CP siiiiiiiiinnnnce.

emmatony:
I would like to inquire about the implications of the new tax law scheduled for next year. Specifically, how is this law expected to affect money market funds (MMFs)?

heavenisreal18:
Is the WHT only applicable to short term, what if is 182 or 365 ,does it mean I won't pay WHT, our gurus investor and finance people help

fannybaby:
. Good afternoon, please when is the next auction date.

sirrotex:
Thank you for the information. Please share source of this information as I have been a victim of several wht tax deductions

unite4real:
how is this possible when the highest limit for the day is N869.

No one can place a trade of N900 today. not possible

heavenisreal18:
Even GTB doesn't ,I am confused seeing this debit