₦airaland Forum

Odunharry:
I think Banks charges those fees on the transaction.

Investment one only charge the 10% WHT on interest.

awesomeJ:
I certainly heard reports of 980 from the ABCON chairman, and unless you identify yourself as someone who has more insight of the business than him, your claim is obviously falacious.

.

Elsueno:
They did not sell at the rate of 980 or anything below 1k. l certainly haven't seen at that price too

awesomeJ:
You know that cos you were his CFO??

Streetinvestor2:
It was sold for #900. And my wife bought for that amount and equally bought punds for #1400 this same day for her mini import .She is even blaming me now for not allowing her buy with all her cash. I was telling her it will go down more.This was in April .

Streetinvestor2:
It was sold for #900. And my wife bought for that amount and equally bought punds for #1400 this same day for her mini import .She is even blaming me now for not allowing her buy with all her cash. I was telling her it will go down more.This was in April .

LordAdam16:
https://www.bloomberg.com/news/articles/2024-05-28/naira-jumps-most-since-january-after-central-bank-sold-dollars-ngn-nigeria

It'll be another transient gain.
$1.3B futures contract is due tomorrow. The CBN flooded the market to precipitate a sharp drop so as to reduce their bill.

If you can source the $ at 1200 or less, load up.

-Lord

awesomeJ:
Some people just like arguments. Sometimes you ignore them, sometimes you put them in their place.


The fx situation seems to be beyond the CBN's efforts though.

The market traded over $350m at an average of 1191 yesterday (meaning most trades settled below 1200), still, the rates closed at 1329, today it's 1484.

I think the market will need news of a substantial inflow to go to levels the CBN wants.

Who has heard anything about the balance of Afrexim facility? Last I heard, they should be disbursing about now.

uptimum123:
Please I'm kinda confused

I purchased TB of 300k for 182 days at access bank today at the rate of %14. My thoughts was I would be debited around 258k but they just debited me 279,800.

I thought since it's at %14, I should be getting 42k

freeman67:
All those fees put together is no where near the WHT. I have not done TB for a while so I know may have changed. However, as the time I did, TB was exempted from WHT.

Itsrm:
Only on FD, dividends e.t.c.

These are the usual fees on Tbills. Commision 0.125%, custody 0.10%, transaction fee N100, VAT 5% on commission, custody and transaction fees.

tabithababy:
Please who knows the next primary auction date?

Esthered:
Please I want to ask for advice on behalf of a friend with 4m.
1. He has invested in TBs earlier in the year. He isn't sure if he wants to invest in TBs again as he has no land asset.
2. He's contemplating buying a land in the outskirts of Lagos for capital appreciation.
3. He has a land in his hometown gifted by the dad that's undeveloped and was called by his uncle to build on it for the purpose of renting but has his reservation as the location is not a commercial area but town.
4. He's trying to discover himself for a business that he can do to earn a side hustle.
Kindly advise.

Esthered:
Please I want to ask for advice on behalf of a friend with 4m.
1. He has invested in TBs earlier in the year. He isn't sure if he wants to invest in TBs again as he has no land asset.
2. He's contemplating buying a land in the outskirts of Lagos for capital appreciation.
3. He has a land in his hometown gifted by the dad that's undeveloped and was called by his uncle to build on it for the purpose of renting but has his reservation as the location is not a commercial area but town.
4. He's trying to discover himself for a business that he can do to earn a side hustle.
Kindly advise.

awesomeJ:
I don't have all your answers sha, but one thing I know is if 4m is all you have available now, you may want to gather more funds before you think of building.

Otherwise, you may end up realizing that the money you expect to complete your carcass finishes at foundation level.

Plus rental yield is hardly ever above 15%.

ogawisdom:
Let him do mutual fund for liquidity sake while searching patiently for a land of 2m and a business or investment of 2m for regular cash flow.

The money should be working while you are searching for the next thing to put it into.

stluke:
Good day financial gurus in the house,
Please I want to go into this TB But I don’t know anything about it, have been doing FD before now.

Please anyone that can put me through from A-z
I will appreciate,

This is my email
Banji.olawale@yahoo.com

awesomeJ:
NTB Q3 Calendar

Bluekapon:
Please those who have purchased TBills via secondary market with GTB, What's the process like? Is the entire amount debited first before the upfront interest is credited back into the account? And how long does it take to credit the interest?

presiade:
Contact your account officer to ask for their current rates for the various tenors, then specify which one you want. After your application is accepted, they will deduct the discounted amount (total invested less the pro-rated interest) followed by the VAT and custodial fee.

You will then have the face value (amount you requested to invest) indicated on your online banking platform. You will also see the tenor and maturity date indicated.

Thank you for your response.
I applied on Friday. Didn't get any debit alert whatsoever throughout Friday. Tried calling the account officer but he wasn't picking my calls. I checked my account balance today being Saturday via ATM and noticed that the entire amount is gone including the interest. Still yet to get any alert sms or email. The account officer is still not answering my calls. I'm just kinda confused here.

presiade:
Contact your account officer to ask for their current rates for the various tenors, then specify which one you want. After your application is accepted, they will deduct the discounted amount (total invested less the pro-rated interest) followed by the VAT and custodial fee.

You will then have the face value (amount you requested to invest) indicated on your online banking platform. You will also see the tenor and maturity date indicated.

Bluekapon:
Thank you for your response.
I applied on Friday via GTB. Didn't get any debit alert whatsoever throughout Friday. Tried calling the account officer but he wasn't picking my calls. I checked my account balance today being Saturday via ATM and noticed that the entire amount is gone including the interest. Still yet to get any alert sms or email. The account officer is still not answering my calls. I'm just kinda confused here.

presiade:
That doesn't sound right. On Monday afternoon if you still haven't seen any notification, you may escalate to the branch's email address; send a message to your account officer and CC the branch. You should have the email adresses in your online banking platform.