chloride6:




Emefiele has really dealt with people..

You guys dont seems to understand what this thing is doing to the economy sha.

Let me put it in perspective for you.

If

you have N2bn and you invest it in Tbills at 14% yield, you will get N280m without lifting a finger..

Interest rate of 14% with inflation rate of 11.5%. that's a real return of 2.5%. Government uses NTB to fund it's recurrent expenditure - salaries, vendors, contractors etc. Stop being ignorant. Perhaps you're merely trolling.

Because of your less than N50m in T Bill's you want interest rates to be high.. [i]interest rates are high because inflation is high
[/i]
T Bill's corrupted everyone and made us lazy..

Some banks just forgot about loans and focused on treasury.. as [i]the economic terrain is difficult no thanks to faulty govt policies. Should they incur losses by lending to folks who cannot pay back?
[/i]
Zenith bank was making N400bn after tax just from T Bill's... And so? Why did the government not put policies in place to reduce risk?

Infact you are more likely to get a loan from Citi Bank than you are from Zenith Bank... False

High Interest Rates made your pension managers lazy.
False. Until recently they were mandated to invest a huge chunk in fixed income securities. Have you been living under a rock?

They refused to buy equities just because bills were crazy high..

Now everyone will go and look for alpha..

The smart one are already looking at good stock picks so that when the nearly 1.5 trillion of Pension funds mature come Nov/Dec and flows into Equities they can make some change..

Change is inevitable and change is here..

Let's all get used to it..

EgunMogaji2:


Not really but would put me more into solitude.

EgunMogaji2:


I live in Elebu, a suburb of Ibadan. Likely relocating to Omi Adio, another suburb due to the massive growth explosion.

EgunMogaji2:
I’m enjoying this thread.

Hope to hear from those that are in actual retirement.

My story: I’m in early, but full, retirement from the USA. Luckily I built some overhead to my budget because Nigeria is actually fairly expensive.

freeman67:
If any asset management fail in its obligations where can customers seek redress? They seem to be an issue with cashcraft asset management wing.

https://www.nairaland.com/5516137/cashcraft-investment#83837475

chigo4u:

They are both capital intensive

chigo4u:
So Dangote is now venturing into rice business without completing the refinery. I remember arguing with some people earlier on this thread that the refinery will not be completed any time soon. I wouldn’t know his priority right now.
Also it looks like Dangote is the unofficial president of Nigeria

ositadima1:





The insurance company is not father chrismas, they are there to make profit. Do you know what they do ?

They estimate the chances and rate of an accident occurring, they calculate expected loss PA for each customer category and bill you higher.

For example if ur expected loss per month is 5k they will bill you 6k. Effectively they are recovering what ever they paid you plus profit over time. In short, you pay more over a longer period.

If you can absorb shock it is always better not to insure.

By d way, if you keep having accidents they will revise ur premium upwards why is that?

ositadima1:


You know that someone like you should not be wasting money on insurance. Insurance is for those who a loss would be unacceptably damaging. Paying for insurance is a bad bet when you have enough money to absorb shock. Just saying.

Mills55:
this country is really getting things wrong. Why would citizens be at the receiving end of every policy in this country? The Govt. claim to encourage cashless economy and the same time Banks are charging customers virtually for every transaction. Internet transfer they charge 52 naira, POS 50, alert on same POS transaction 4, ATM alert 4. ATM Card mentainance fee every month. Even alerts when is not needed like holidays and birthday. How do u encourage cashless when u charge me for using a common POS? is better I transact with cash. All this Banks are forgetting the fact that all this medium is reducing their work force, reducing queue and stress for them and customers. why leaving money in my savings account? when the charges is higher than the interest. u give me 3.5% interest and take over 20% charges at the end of the month. CBN is really getting it wrong here. something has to be done in this regards. They also forgot that all this medium they trying to discourage has actually reduced a lot of crime in the society, e.g. Armrobbery etc. I think CBN should go back to the drawing board on the recent policies.

ukay2:



Please have you bought secondary market from any investment house recently after the new CBN directive?

You can tell me some investment house in can invest in NTB secondary market. .
Thank you Sir.

igbizen:


The same thing that happens in the cooperative at my place of work. The interest is 10%. But if you want to borrow 1million, you have to have 500k saved in the cooperative. So the 10% is charged on the 1 million you borrowed and you can’t touch the 500k you’ve saved until you pay the 1 million naira completely.

I was trying to educate my colleagues that the interest is actually 20%.

Obinnau:
Good day.
Please there is too much jargon here that I am still trying to understand.
Please a quick question to the pros, if I invest 200k in stanbic mutual fund for 3 months, what's the predicted earning at the current rates?

austine4real:


the other I said stanbic was stealing my interest accrued everybody kept quiet ... get ur statement of account u will notice something like deduction

Apitch:

Please note that subsequent payments would still stay for 30days too before you can withdraw without penalty.

ahiboilandgas:
the real rate of return... if t.b goes for 12 the real rate will be around 14.5

ernie4life:


Don't get it wrong, am not trying to discredit any fund manager, I only shared what I got from fman site

ernie4life:


The last working day for third quarter (Q3) is 27 September, so check fman website for rates on the 27th September, let me know when you do.

ernie4life:
So I was doing a quarterly review of my portfolio and my numerous fund managers, I decided to track all fund performance for the last working day of September which is the end of last quarter, so below is a rank of how our fund managers performed that day.

For this quarter, treasury bills rate is dropping gradually and I don't see any reason for rates to increase anytime soon. I told a friend some weeks back that judging from the way that longer tenors in treasury bills was been over subscribed, that means the market anticipates drop in rates, if that is true that means rates for this quarter will be lower than last quarter

C505:


Then I guess stanbic fails here. They always pay me my upfront even when I don't need it and even after indicating in the letter that I want it paid at the end of tenor, they still end up paying it.

I wish she'll have knowledge about interest reinvestment. Or maybe I should meet my account officer.

RealityShot:
your interest should be 720k @12 not that
The charge is 2.5% not too much
(Fbn charged me 2.1% total last week)

Are you sure you saw 620k or 702k interest?

C505:
Morning house.
Please can anyone kindly help my kid brother calculate how much he'll get as he decides to invest his yearly contribution of 460'900 in tbills. He said he'll do this for 15yrs meaning by 15th yr, his face value would be 6'913'500

In all sincerity, I would have done the maths but everything in my head seems to be black this morning. Something is really bothering me ATM

emmanuelewumi:
Good day,,, please can someone help me with the email address of FBN quest Asset Management.


I made a payment since last week Friday and it has not reflected in my account. I have called and emailed my account officer all to no avail.

I think I have to escalate it

Moses247:

I didn't reinvest anything...i usually check my daily interest via the app and as at Friday it was 43k then on Saturday it changed to zero, I thought maybe it's due to upgrade but to my surprise I'm seeing just 400 naira today

Emmaesty:
I reached out to them yesterday and they said t will be credited to my account but I have not seen anything yet