Moses247:
I don't understand fbn mmf oooo. as at Friday last week my interest on my investment was 43k and then on Saturday it changed to zero, I just checked today I'm seeing 400 naira as interest....abeg make una check una balance oo. don't know if am d only one experiencing this?

Sigh

Did you choose to reinvest interest? If yes, it's been added to your principal. If not, you should get credited soon. I think that's what happened.

The 400 is probably daily interest accrued. Reach out to the customer service or ask for your statement

Emmaesty:
Hello guys,

Does anyone here use United Capital MMF?

I started funding my mmf account in Aug 2019 and this is the first week in October where I think I should receive my interest but I have not seen anything.

Should I be worried?

How about reaching out to their customer service?

Bbbwings:

I took the time to do the math.
Let's say he bought the house just as you were occupying your flat.
Let's say he invested the 23 million instead in Tb compounded at 10% Base rate for 5 years
The money would have grown to using
A=P (1+r/n)^t
Aprox 37million

For, 5 year rent on the duplex, he got 800k×5= 4 million

Let's say he eventually got the 15 million on the duplex sale.
Total money he got on the duplex after the five yer period = 4million+ 15million
=19 million

So he theoretically lost
37 million - 19 million

18 million in five years. To bad investment decision.
Essentially, he could buy the house from himself out of thin air, with some change 3million left.

Fu...ck

Lol. What if rates drop to 7% as they did a few years ago?
Also, rent won't stay constant. More likely than not, it would rise (considering the housing shortage). What if he further reinvested his rent?
What of the effect of devaluation and inflation on your NTB?

On the flip side, what if the place was vacant? Also, there would be renovation costs. The risk of troublesome tenants which also requires cash to resolve. All these contribute to reduce your return
Plenty of assumptions here though

For protection against inflation, real estate is the superior alternative. I speculate that it is the same for devaluation.

Gracesofar:


I saw there advert somewhere perhaps its even nairaland I did self. You can give it a try and come back to share your experience

Their packages aren't cheap. I can't stake that much on something like that

ahiboilandgas:
at 17 years span rent will be reviewed na , caution fee will be paid , the most important is the appreciation of property price...example at 17 year u might sell the property for 100 m plus 55 million earn in rents that total of 160m .....as a bussiness man u don't hold property perpetually...u strike when it right

Your commercial knowledge is vast! I hope you have some folks being mentored by you.

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society (https://nigeriafarmersgroup.org/)? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

Hello

Has anyone here heard of Nigeria Farmer's Group Cooperative Society? Are their investments legit? Does anyone have any warnings against investing with them? Are they creditworthy?

Pls help

https://research.cardinalstone.com/storage/ResearchReport/How%20imminent%20is%20a%20naira%20devaluation.pdf

FYI

unite4real:


I think below is a simpler formular

(Principal*100)/(100-rate)

How would this work for secondary market purchases with tenor less than 364 days?

If you use FBN, an even lazier way would be to collect your confirmation of investment. Your return, as well as applicable charges, would be shown there. No need for plenty calculation or mysterious formula.
Sense (or laziness ) no go kee me

Been a while since I learnt something new on this thread. Nice one!

alexvic12:


You mean at the end of 30 days he'll get an interest of 12.9%? And he can get his capital back?

Sorry, I'm new to these things.

No. Read up on it

yungestmoney:

12.9% ke? FBN av been hovering around 12.30 for a long while now

They sent a factsheet earlier this week. That's where I got the 1 year yield from

pizapato:


olujaidi

check this out

The poster said secondary market. Not primary. Mr Ewumi's post also talked about primary market. I do secondary market all the time and it's never happened to me

pizapato:


real werey bank. I've stopped using them for secondary investment since the day one of their staff told me any second with interest paid upfront will be automatically rolled over at maturity even when you stated otherwise in the form except you come to notify them few days to maturity not to roll it over

The staff misinformed you. And you swallowed it like akpu and onugbu soup

Florblu:
Hi all,

Please I want to open mutual fund account with Stanbic. What are the things I need to know? Is it safe to start now? What are the cons?

I will appreciate all necessary information. Thanks

Go to their website and read their FAQS. If you require further clarification shoot their customer service an email. If their explanation does not suffice then ask here p

Pr0cter:
Please guys, someone just sent me this message. I hope our investment are safe??


My brothers and Sisters if you have money in Standard Chartered Bank, and STANBIC Bank... please remove it now. The Information passing through the board of management, seems like the banks are about to close down due to the South African xenophobic attacks on Nigerians. The South African government is pulling out of Nigeria . Please share and save Nigerians from loosing there money as well.

Lol. It's not true. Why spread unverified info? By so doing, you're spreading panic. Isn't it obvious that it's a demarketing message?

emmanuelewumi:
Good day all, I am planning to open a money market mutual fund with FBN quest next week by God's grace.

How long will I run the account before I can make withdrawals?

What is the current yield of FBN quest money market mutual fund?

30 day holding period

12.9% yield

drdrei09:
please, what's the essence of the custody fee, and how does it work?
I was charged 1,923.28

A fee a brokerage or other financial institution charges for safekeeping services. Safekeeping or custody is a service in which the brokerage or financial institution holds securities on behalf of the client, which reduces the risk of the client losing his/her assets.

There was a CBN circular a few years ago mandating banks to transfer client investments to custodians eg FBN Custodians, Zenith Custodians etc. It was displayed in banking halls all over the country. This means that your investments are no longer domiciled with the bank but with the Custodian. It's an additional layer of risk management

Your bank is simply an agent facilitating investment, divestment and settlement

kamsy4God:
Pls house, with the recent happenings in South Africa, how safe is Tbill in Stanbic, I have 3 running, one to mature tomorrow 12/9/19, and I intend to reinvest it immediately. Should I be worried as all my Tbills are in one bank.
I chose stanbic cos of their better rate and top notch customer service.
#saynotoxenophobia

Before I answer, I'd like to know if you were charged custody fee. If you were, do you understand why you paid that??

DMerciful:
Thanks very much. Saw it now.

How did you miss that? You don't receive alerts??

DMerciful:
Hi All,

I noticed I did not receive my bond coupon that normally comes July. Anybody experience something similar?
Can anybody help with a solution?
Thanks

Perhaps it came on the last working day in June? Confirm from your statement

osigiepurr:
Oga, keep your trash inside your pocket...

E pain am

osigiepurr:
You were here when i asked somebody to explain more on I-invest.

Mr Oga search the thread by using the NL search button

Your post sounds very entitled, though. Is it by force to respond? Did anyone tie your hands from reaching out to I-invest via telephone/IG/email/facebook or SterlingBank? Did you attempt to go through their FAQs? Did anyone prevent you from searching NL or the wider internet?

Yet, when someone called youths lazy folks took umbrage. We go dey alright las las

emmanuelewumi:


Unfortunately some people get serious enjoyment and satisfaction by making more money and closing more deals.

Sir

What is responsible for the uptick in NTB yields in the secondary market? Is it that $9b matter?

Daddybomboy:


My point is, I'll start a business with 500k and in 12 months, I'll have over 3 million naira in cash/assets (excluding OPEX)

For a business owner, it might be best to see it as a savings plan or business/personal emergency fund.

I understand you have alternative uses for your funds and you know how to manage the risks in your business but you need a fallback because you cannot foresee what can go wrong. You might also have future capital outlay for machinery or vehicles for which you need to set aside funds periodically instead of running upandan to raise funds when the time comes.

igbizen:

Before now it use to be 10%. They just dropped to 6%.

Maybe the sum invested was less than 1m. An MMF is still a decent option provided they credit you same day

igbizen:
How can a bank be so cruel, giving me 6% for 91 days fixed deposit of 5M. They will hear from me next week.

You should have known better. You follow the NTB thread don't you?