₦airaland Forum

emmasoft:
Your password will be sent once you fund your account.

Hold on, once your password has been sent, you login and change it, you can download stanbic 3.0 and login using your password.

Your e-account number is not an account number to deposit money into. it's more of a your unique identity on the stanbic platform. E- account should be used as narration when you wish to use stanbic collection account ie UBA to fund your MMF

I can't access my money market fund account for two days now.
I have contacted Stanbic customer service and they promised to rectify it all to no avail.
I am really bothered.
What sort of unprofessionalism is ongoing at Stanbic?
It seems they now employ monkeys to work for them.
Please, is manual redemption still permissible in the bank?

Factcheck0001:
yes

We can't have it for life so we will give it to the north come 2031 with a south south VP.

Oya mention your region n tribe with pride

Who are the we?
Like your poor family is in Aso rock with Tinubu?
Which position are you occupying in "your" government?
There are only two tribes in the world:
1. The rich
2. The poor
You already know where you belong.

Yankee101:
I know how P&L works
They make more than 10k. 10k is the baseline
Don’t forget P in this case also included the free food from your business, which a lot of people underrate but the majority of the average Nigerian spends significantly on feeding

My point is that majority of Nigerian traders cannot boast of 10k profit daily.
10k profit daily amounts to about ₦300k monthly and 3.6m annually. I am not saying the money is much but sincerely, many average traders in Nigeria don't earn that much.
And again, business is seasonal, you can make ₦15k today and then 5k the next day. Some days you may borrow money to feed.

A305:
As regards this your fear, I see that some other persons here has replied well to your concern but I feel the need to educate you simplistically so you can educate others in your circle or offline.


MMF, regardless of the (brand/bank name) is a pool of investors that an asset management (brand/bank), collect their all their money to invest in low risk investment mostly Government Tbills, fixed deposits and commercial paper.

Note—Commercial paper isn't entirely low risk, which is why the least allocation of funds goes to it. And most fund are usually allocated to Tbills.

Enter Tbills.Tbills or Treasury bills is government way of issuing promisory note to collect money and pay back shortly within a year. Government can never default or go penniless broke to pay back and in worst case scenario, they will print money to payback debt. The only way you won't get your money back is if Nigeria ceases to exist. (Shout out to Trump and Putin massive number of Nuclear war head), those can really wipe out a country.


Now the reason why rates fluctuate is because of MPR & Inflation rate (Assignment: go learn the full meaning of MPR and submit your assignment here.)

Anyways, MPR in one word means Interest rate, so what happens is; If Nigeria inflation number is high, CBN will increase MPR and Increase Tbills yield to force inflation to come down. This is what has been happening since last Quarter of 2024 till now.
So, when Tbills yield is up, MMF rates will shoot up too because the buck of money invested in MMF is in Tbills. Then you will begin to smile like Dangote lol


What CBN is essentially doing is mopping up and raking in excessive money in circulation. People like me and your will rush to invest in Tbills or MMF for high yield gain but CBN motive is to get rid of our money in circulation.


So back to now: MMF interest is failing, what is happening?


What happened was: Following the last MPC, CBN began to maintain the same MPR for banks, they rebased our inflation from 2009 to 2014 first and secondly rebased our GDP to 2019.

Drum roll ... Ghen,Ghen, Ghen, Ghen..., suddenly inflation numbers began to fall since the second quarter of this year.

Investors like us saw it coming, this was why I made a comment post here in the past two thread page before this one, that MMF rates will soon cool down, a couple of guys type jargon at me but I was smiling offline reading their replies. Anyways, what is happening is Inflation numbers are cooling down, CBN is starting to reduce yield on Tbills, hence MMF rates will reduce too. Thanks to Cardoso Aka Cardi-B.


Why did I take my time to type this much?

I just wanted you to understand that this is normal and this happens in circle, you only being aware of it now because your MMF investment is teethered to the health of the economy and inflation numbers just like the performance of altcoins is anchored to Bitcoin.

Don't panic, Don't pull your money from fund manager 1 to fund manager 2 because they are all experiencing the same shift and transition in the economy. What you should focus instead is the 9th wonder of the world which Albert Einstein called, Compound interest on your MMF.


Peace out.

Thank you for your time.
Very educative.

cucumbar:
Una Dey think before Una write?

Or you don’t know the meaning of majority?

I taya for these guys.
Nigerian Universities should make basic statistics compulsory for all students .

TheAnimeEnjoyer:
Interesting so I as white man making 70k Australian, I would be in the 1% of wealth in Nigeria if i had online business. Here in Australia 70k is middle class income and after taxes its usually around 59 to 60k yearly so pretty average not broke or poor

Good!
Tell us the cost of living in Australia.

fijihems:
Does this 8% include the 5% politicians who earn millions and billions of naira per month?

5% of Nigerians (12,500,000 people) are politicians i.e. the ones in positions?

Bros, what is the source of your information?

HEAVEN4444:
250k that Uber driver makes in 12 hours 😉

What population of Nigerians are Uber drivers?
Let even assume the Uber driver owns the car, do you know the cost of fuel?
I can assure you that 70% of the money Uber driver makes will be spent on fuel and spare parts.
Again, cars have lifespan and therefore amortised. The Uber driver have to keep part of his earnings for that because the car ought to be replaced after 4 years (Tokunbo) and 10 years (new brand car).

In the end the Uber driver will struggle to ultimately earn above ₦250k in a month.

Yankee101:
A business person making 10k per day has a turnover of 250 to 300k monthly
The farmer harvests crops that are worth millions annually and majority of Nigerians are farmers, though banditary has affected the profession

I don’t think that statistics is true as regards to the working population

If they qualify it and say the entirety of Nigeria, perhaps, because Nigeria has a very young population is not yet employed. But if drawing the pay scale or ga or a country, you use only people of working age which is 15 to 64

Is the 10k profit or total sales? The business man will not eat, pay for transport and levy, settle landlord e.t.c
Similarly, the farmer will not buy fertiliser, pay for labour and land, fumigation and post-harvest processes.
The money earned is the money left (profit) after all expenses and tax.

Brenbentondiaz:
The tweet is false. For instance, in the SE all of them are billionaires. That's about more than 30 million people. Since to be billionaires, all of them will be earning more than 250k per month. That's already more than 30% of the population of Nigeria. Not to talk about the many deveropers that are helping us deverop Ragos. So, the tweet is totally false.

Rubbish! Not everybody in the SE is a millionaire in Naira.

Softmirror:
In a minute, in an hour, in a day, in a week, in a month, in a year? Which one?!

I assume you mean monthly.

Because if it is based on unconventional jobs, brown collar jobs, business and enterprise Nigerians earn so much in a day which the cumulative at the end of the month is hug, far above #250,000. #250,000 a month is just #8,350 a day. Start with Okada riders sef .

Be deceiving yourself.
Go and do the Okada and let us see how much you will make in a month.
Do you know the cost of fuel and spare parts?

kedeojo:
Tinubu won't make that mistake to appoint an Igbo as INEC chairman. South south or south west will have it.

And you really trust South South because of Wike's noise?
Wike has no integrity or loyalty.
If it looks like ADC will win, Wike will work against Tinubu if he is promised a juicy position.
If you conduct election today, Obi will still win Tinubu in South South with a wider margin.
You can take that to the bank.

playces:
Instead of switching to other MMF, Just collect the money and open shop. Because where you are running to, you still run again by the time you see further decline. And you cant afford to be running up and down like that forever.

Noted!

Stanbic IBTC MMF has gone down further to 19.41%.
It is time to switch to other MMF .

enemyofprogress:
Omo, check those laps. Fela really enjoyed o.

Not enough original content
Please take a moment to write a quality post with at least 40 characters.
This will make the forum more interesting for everyone.

Why do your people always assume in your delusion that your men slept with women from of other tribes?
Do you consider that an achievement?

Firebox123:
i don't know what you guy's gain in lying and spoiling tinubu government

He is saying the truth. Why have we reduced everything to Politics in Nigeria?
Can you learn to reason beyond religion and tribe?

Hatrick123:
Thanks for your reply.How long does it take for funds to reflect when you subscribe via bank transfer.

If you subscribe via bank transfer before 12:00 noon, it will reflect that same day, sometimes late in the night. However, any subscription after 12:00 noon, will take 24hrs to reflect.
Do not forget to state your E-account number in the Narration.

DeLaRue:
And the current CBN Governor has proved to be the most battle-proven CBN Governor in the history of Nigeria.

And in my book, the best Nigerian CBN Governor by far.

If you have an extreme currency crisis in, say, Gambia, Ghana, or any other African country, and you are the President of that country, who would your government call? - the current CBN Governor or Mr Sanusi, Mr Emefiele, or Mr Soludo.

100% of the time, that President will call the current Governor.

That's because he has fought against the near-impossible task of stabilising a collapsing currency and won, in a way that most people did not think was possible.

That is why he was crowned the Africa Central Bank Governor of the year.

Anyone remember when people were betting that naira would go to N3000 to $1? Where are those people today. They have changed their tune to 'he was only appointed Governor because he is Yoruba.'

Messrs Sanusi and Soludo were CBN Governors when Nigeria was making so much money from crude oil.

It is easier to be a CBN Governor when there's so much money.

Are you alright?
What was the exchange rate in Soludo era and what is it today?
What exchange rate did Tinubu meet and what is it today?
What was the inflation rate in Soludo era and what is it today?
Why is it difficult for an average Yoruba man to speak the truth?

Shimbo96:
Do you know that the President worked against Tinubu in 2023... Cashless policy, scarcity of fuel... Obidients up and down but he still won... I fear who no fear TINUBU. The man can buy the whole of Nigeria without bragging so please shut the Bleep up and stop misleading people.

You guys really think that Tinubu is God. The North wanted him to win and convinced Yakubu to do so. If the North were against him, he wouldn't have won.

edogu:
If people’s votes are captured immediately that they have voted, I don't see the possibility of Tinubu wining. By that I mean, if the total votes is recorded and sent to a centralised place where everyone can see the outcome of each polling unit, I don't see the possibility of Tinubu winning. But if it this old pattern of voting and waiting till evening or next day for collation officers to declare result, congratulations to Tinubu in advance.

People like Wike, Edo state governor and Co will see to it that the election is rigged. You think all the effort to bring governors from the opposition into APC is for jamboree? Think again.

It is not that easy. You don't know politicians. Many APC governors may not like Tinubu. They will pretend to be working for him only to disappoint him eventually. This happened to Jonathan.
Today, Tinubu cannot guarantee that any governor in the 19 states of the North is working for him.
Wike is desperate and ambitious. How are you sure that he is not a mole in Tinubu's government? He desires to get VP slot by 2031 when power will be returning to the North and then prepares himself for the number one position. Obviously, it is looking like that will not happen and Wike is seeing the signs already.
How come Sanwo Olu did not deliver Lagos State to APC in 2023?
How did EL-RUFAI fail to deliver Kaduna to APC in 2023?
How come Buhari could not deliver Katsina to APC in 2023?
Ganduje too failed to deliver Kano to APC.
Politics is not Mathematics.

givedemwotowoto:
This is actually a reasonable suggestion since State of Origin is used everywhere in Nigeria and someone can only get certain benefits from their state of origin. People can pay maybe 50% tax to their state of origin, and 50% tax to their state of residence (for infrastructure like roads etc).

Especially income tax. If this is implemented, Lagos tax revenue will decrease by at least 75%

givedemwotowoto:
Since our oil revenue is shared with similar percentages, this is fine for now. When we’re ready to review oil and gas sharing revenue, then we can review VAT as well.

Meanwhile, we should implement VAT reforms immediately so that taxes are paid at the point of consumption, not to the HQ

Additionally, Nigerians should pay tax directly to their State of origin.

Academicwizman:
If you are after money, don’t become a lecturer. Forget about career growth in the current job, focus on making more money and saving to raise huge capital. Business and investment should be your ultimate goal. Many industries will be displayed by AI. Priortise raising huge and intimidating capital for business or investment that you know a lot about. I don’t mean saving in cash, save in secure real estate or in durable commodities. You may save in US Dollar or in Bitcoin. Keep the side hussle. Explore investment opportunities in the current side hussle that you do. Lecturing jobs nowadays is a gateway to poverty, even at the professorial level!

Hmm! Once a rewarding career (lecturing) is now nothing to write home about.
A professor was like a god in Nigeria in 1990s and early 2000s.

Hezzyluv:
Achieving your purpose in life surpasses everything.
That being said, what you're so passionate about might be your purpose on earth. So, consider the bolded. But, 200k monthly for a married man is nothing in present day 9ja. #Namby-pamby


Do this and switch to lecturing job after 5years while you continue doing thy research.

Thank you for this. My mentor advised same.

Mabuggi88:
Hmm, To me, the two is okay, no delima here

My present job will never allow to lecture while doing the job. It is not just possible.
I have to resign if I must lecture but the remuneration is discouraging.

I was already being prepared by my academic mentors for an academic position in the university before I gained employment in one of the multinational companies in the country. I have completed my masters with publications in reputable international and local journals.

The remuneration in the multinational is juicy and tempting. However, career growth is purely political. You can be stuck in one position forever. You may not lose your job so far you are performing but the pain of seeing colleagues who are not as good as you are get ahead of you in career and even stand a chance of becoming your boss is severe.

So far, I have married with children, bought a car, built a house, about to complete my PhD and also earn about ₦370,000 monthly from my idle investment. I achieved all of this within 4 years.

Now, I am considering going back to academics immediately after my PhD ( I will be through next year). Teaching and research is where my passion is but the remuneration is discouraging.
With my PhD, I will be employed as lecturer II with a salary of about ₦200,000 monthly. When I compare this to my present earning, the desire to make a career switch goes down.

Are there other benefits in academic career?

If I work for more 5 years in my present job, I will have about ₦70m in idle investment which will earn me about ₦1,100,000 monthly, a second
house, more investment for my kids education and a new car. However, this will come with a lot of headaches:

1. No time for family and God (church activities)
2. No work life balance
3. No guarantee of career growth
4. Wicked corporate politics

foleskay:
Remain Procter and Gamble. P&G. The day that one goes will be end of job opportunities in ibadan!!

P&G has gone since.

Newsmills:
Monday sit at home is a product of Mr Tjnubu also-lets tell ourselves a simple truth,whenever,you prefer your neighbour's garden more when yours is burning-is a curse

The company never mentioned Monday sit at home. The OP just wanted to fool himself.

emmasoft:
Another Quarter ends in 10 days

Don't let those eating their fruits make you eat your seed.
Be wise!
Plant your seed now. (Invest no matter how small)
You will get your fruits (interest/dividends) in due season

Why is FBNQUEST MMF yield historically higher than that of Stanbic IBTC?

dalass:
Click on the link and if you care to view the fund analysis, it is written there that it has a high risk.

Nothing is totally risk-free. There is always an element of the risk of losing money. No business is fail proof. Dey no be God

High risk in MMF or you mean other mutual funds?
Even our life is not guaranteed. We can die anytime but should we stop living?

Of course, it is advisable that he spreads his investment. However, remember that business too has a lot of risks.

For me, you can only lose your money if Nigeria stops existing.