₦airaland Forum

Investnow2017:
He said he simply filled out a Fund Transfer Form and passed it over the counter to the officer in charge. Waited and it was done. But for the one of N3m guess it was electronically via Fidelity Apps which he succeeded in upgrading to transfer as much as N4m at a go in one day.

Thanks a million boss. Appreciate

Investnow2017:
A friend did N14.3m from Fidelity Bank to First Bank a few weeks ago and was charged less than N1,500 or there about. And another did N3m from First Bank to Stanbic and was charged N52.50.

May be they like his face, I don't know

Could you please help by asking him how?

Was the transaction electronic or via draft?

Thanks.

Investnow2017:
My question too

Was trying not to violate any rules by quoting actual sums.

zamirikpo:
How much are we looking at......what range......10-20m,20-30m or 1-30billion.

It depends....

Thanks bro. Hugh is relative sha. It is huge to me anyway. About 15 million.

Hello all,

Has anyone in the house moved huge funds from bank to bank?

How was it done while incurring minimal transaction charges?

I need the information for a relative of mine. Movement is from GTBank to Stanbic, for Tbills purposes.

NOTE: Funds are legit and not dubiously acquired. I had to say this due to money laundering flags that may be raised.

Thank you in advance.

Timmi:
For a rough and quick estimate of interest earned, you can use the rule of "72". Divide 72 by the interest rate and that gives you the length of time, the money invested will double. For example, if you invest 5-million at 18%, it will roughly double to 10-million in 4-years. That is assuming you are investing the interest earned annually and not withdrawing it.

Rightly said, it leverages on compound interest.
Awesome principle.

Investnow2017:
Mine with stanbic has always been same day, although done in the morning hours before 11am. Send a mail with attachment to your relationship officer and he will as soon as they receive credit.

Thanks again.

Appreciate.

Investnow2017:
Check again it has been credited this afternoon. Enjoy

If i may also ask, how long does it take for an MMF top-up to reflect?

Does it really take 2 days? I did one today.

Investnow2017:
Check again it has been credited this afternoon. Enjoy

Thanks. Heard they had some issues.

Hello House,

Any Stanbic IBTC MMF subscriber in the house?

No interest accrued on my MMF account for yesterday.

Can another subscriber confirm?

Thanks.

freeman67:
It is credited to your MMF account daily after the close of work but weekends it's carried over to Monday morning. If you have online access or their mobile app you can monitor online yourselves daily by 08:00pm weekdays.

The payout of interest is paid out on quarterly basis. You can choose if u want it reinvested or credit to the bank account you gave them.

Thank you.

Hello guys, please I need some clarification.

How frequently are the proceeds from Stanbic IBTC MMF paid?

Since daily rates change, is my MMF account credited with the days rate at the end of the day?

Can you leverage on compound interest when investing in a mutual fund, like Stanbic MMF?

Thanks.

unite4real:
Bros, Feb2020 FGN Bond coupon payment is 15.54%, locked down till 2020.

Coupons are paid in February and August every year since the year 2015.


N8 million naira bond gives me a total of N1,243,200 as annual interest. Interest is paid twice ie February coupon is N621,600. August Coupon is N621,600.

My house rent is 600K and its paid in September annually. Child skool fees for the year is not over 300K.

The difference goes back into Treasury Bills with other incomes.

By February 2020, my N8 million will be credited back to me with the last coupon payment of N621,600. (Bullet payment)

note that the N8 million naira was an aggregate of different TBills i have bought over the years which i locked down for a long term bond.

This is one of more.

But chief, you get mind o.

Locking down that amount for 5 yrs?

I believe your financial plan is solid though and yielding fruits.

Bless.

Ojix85:
Good evening,

Got this over the weekend.
Snapshot of some details about FGN Savings bond launching tomorrow.

Disclaimer: I don't work for/with ARM. Rates could be different.

Someone would wonder where ARM got their 16% from.

Lets wait to see the rates for the 3 yr savings bond.

Got this from ARM over the weekend.

Let's see how true / correct ARM is

Good evening,

Got this over the weekend.
Snapshot of some details about FGN Savings bond launching tomorrow.

Disclaimer: I don't work for/with ARM. Rates could be different.

Hello and good morning All,

Can someone please, assist with current rate/price history for StanbicIBTC Money Market Fund?

I have checked online. The page has issues.

Thanks in advance.

Lalaska:
true. Actuallly doing 17.4% this morning against the 17.2% from this week's NTB 182 day result. You can access your MMF from 30 days. This implies that youre getting at least 17.4 for 30 days compared to around 14% for 30 days on NTB. So Mutual Funds - MMF is the way forward. The only downside is that you don't take your interest upfront.

awesomeJ:
I actually moved from NTB to MMF last month basically for cash flow reasons, I guess now, it's being a great decision, considering that I get upwards of 17% regardless of investment tenor. I see mutual funds sizes growing significantly over the next quarter, as it won't be long before retail investors who pulled out to NTB last year return.

Guys, what MMFs have you subscribed to?

olujaidi:
Buy USD or bitcoin. If USD falls, buy more

zamirikpo:
sincerely, i think the only way to preserve wealth is to keep making money........

Thanks guys.

Really scary.

Short Story :

Was preparing for my wedding late last year and I needed a wrist watch.
Being a long time customer of a particular brand, I was aware of what I needed to spend to get a good one. 30k tops.
So I got to the sales point. Alas, the price of the range I wanted had risen to 52k. I scraped here and there and was able to purchase one. I was like, this Naira don unless o.
Fast-forward to date, I was lazing around the brands website, only to find out the exact watch now retails for 119k. I was like God, we are in trouble.

Real Question:

While Tbills is great and all, is there an actual means to preserve wealth while the Naira takes a beating?

Kindly point me in the right direction good people.

munezo:
Notice

http://thenationonlineng.net/fed-govt-unveils-strategic-plan-bond-market/

Nice info bro. We hope the rates will be attractive.

My people,

Any idea on rates yet?

Alikote:
did u call the bank ?cos last bid my 365 didnt fly and this week am yet to be debited may be it time to change Gtb

I sent them an unfriendly email.
I am totally not pleased with them.

Do you have any other banks in mind?

NL1960:
Any reason why it failed because iam planning to jump into the Treasury bills train as a first time entrant on Treasury bills with them in the next auction.

Bank's bid rate was higher than CBN's cut-off rate.

GetPosted:
Did you specify your rate to the bank?

I decided to go with the bank's rate after my previous bid failed (i quoted a rate that last one).

GetPosted:
Any idea of GTB's bidding rates please? (especially for the 364-day tenor)

I was going to ask the same question. My bid failed with GT. Im currently shopping for another bank as we speak.

ETHIX:
November data for some people.

Some left Tbills for MMM

Some have used all their money for Tbills eaten the interest and praying the Tbills matures fast to either finish the principal or get another interest

What's your strategy sir?

Rates going down once more.

91 days - 4.85%
182 days - 7.3%
364 days - 8.98%

2020 FGN Bonds here i come

feelamong:
there are loads of links.....

https://www.nairaland.com/2754587/information-federal-govt-bond-2015#40291536

https://www.nairaland.com/1472894/guide-investing-fgn-bonds#18717031

https://www.nairaland.com/1236944/how-invest-fgn-bonds#17735189

https://www.nairaland.com/2434824/invest-fg-bonds#35603525

https://www.nairaland.com/2236356/investing-federal-government-bonds-nigeria#33817732

Thanks a lot.

princeuk21:
Pls those for bond should go to bond thread. Cheers!

Can you help with the link?

feelamong:
feb 3rd auction result
91 days ---4.95%
182 days -----7.97%
364 days ----9.49%
its hinging up slowly and steadily

Great news.

Guys,

Is there a separate thread for bonds?
I think it deserves its own thread if none exists.

House, what do you think? Cc @feelamong,