₦airaland Forum

Pls wat is the best way to liquidate sukuk bond (due 2027) . I was giving 17% against the 19% the banker told in secondary market on Monday. First bank is something else

How safe is fairmoney microfinance Bank?

28% pa on their fixed deposit looks wonderful

Nobody is talking about it and fairmoney has been around since 2017, they also pay interest upfront like Treasury bill

oluayebenz:
Na you dey defend am?

😂

NTB= “Monetary figures increased ✅… but Real Value decreased ❌”.... Newbies should learn from this. [/b]Don't put all your savings in this[b], diversification is the key.

Go and learn a trade ,do business, sell something. The inflation rate is crazy forget what you see on the news , your dream house,cars,lifestyle are getting more expensive rapidly so think out of the box. Small Uber corolla car is now 9.5/10m , it's getting tougher.

legacystore:
How safe is fairmoney microfinance Bank?

28% pa on their fixed deposit looks wonderful

Nobody is talking about it and fairmoney has been around since 2017, they also pay interest upfront like Treasury bill

They're SEC licensed and your funds are NDIC insured up to N2m. I've used them for about 2 years for savings only; their fairsave feature which claims 17% interest with no withdrawal restrictions but is more 15.7% with my calculation (which could be wrong). Their app could also be better. But I haven't had any issue with money going missing or unexplained deductions.

Their 28% fairlock is for 2 years though. 1 year fairlock is 26%

legacystore:
How safe is fairmoney microfinance Bank?

28% pa on their fixed deposit looks wonderful

Nobody is talking about it and fairmoney has been around since 2017, they also pay interest upfront like Treasury bill

There interest is interesting really

Uberchic1:
They're SEC licensed and your funds are NDIC insured up to N2m. I've used them for about 2 years for savings only; their fairsave feature which claims 17% interest with no withdrawal restrictions but is more 15.7% with my calculation (which could be wrong). Their app could also be better. But I haven't had any issue with money going missing or unexplained deductions.

Their 28% fairlock is for 2 years though. 1 year fairlock is 26%

If they are safe and secured by esp SEC they are the best in the country currently, considering they have been around since 2017 without going down.

legacystore:
If they are safe and secured by esp SEC they are the best in the country currently, considering they have been around since 2017 without going down.

Yes, the interest rate is really mouth watering, considering tbills rates are declining presently.

I think I'll give it a try.

This is not cool

legacystore:
If they are safe and secured by esp SEC they are the best in the country currently, considering they have been around since 2017 without going down.

Them and Renmoney have the highest interest rate for locking money, I believe. That said,
I'll advise anyone interested to read more customer reviews and weed out the PR ones before making a decision. There's a LOT of fairmoney (and renmoney) PR about. My experiences have been good but I've never taken loan from them or used the fairlock or put more than N2m there. And again, your funds are insured only up to N2m as it's a microfinance bank.

Uberchic1:
Them and Renmoney have the highest interest rate for locking money, I believe. That said,
I'll advise anyone interested to read more customer reviews and weed out the PR ones before making a decision. There's a LOT of fairmoney PR about. My experiences have been good but I've never taken loan from them or used the fairlock or put more than N2m there. And again, your funds are insured only up to N2m as it's a microfinance bank.

Can anyone talk on Cowrywise and the likes? Even tho the money is held by custodians. E.g cowry uses Zenith custodians by zenith bank.

Anyone has idea on safety, also they are sec licenses

lajid:
Can anyone talk on Cowrywise and the likes? Even tho the money is held by custodians. E.g cowry uses Zenith custodians by zenith bank.

Anyone has idea on safety, also they are sec licenses

Cowrywise is sec licensed. But they don't have nice rates for regular savings or fixed deposit. Where they shine is their emergency savings and mutual funds. They have their own Cowrywise money market portfolio along with several other mutual funds available on their platform. The emergency savings is based on the money market. It's usually around 21% per annum. Downside is withdrawal takes 24 working hrs. They also charge N250 for top ups over 10k and N75 for 5k top ups. And N25 for lower. Their platform is easy to use imo and like every other other financial platform, have good and bad reviews. I use their own cowrywise money market portfolio.

Did anybody bid at the primary rate today,what was it? I am looking at going for primary rate next month via my bank Providus bank
Any advice?

Are there better alternatives than banks just looking at the best way to go about it

Nawa

Uberchic1:
Cowrywise is sec licensed. But they don't have nice rates for regular savings or fixed deposit. Where they shine is their emergency savings and mutual funds. They have their own Cowrywise money market portfolio along with several other mutual funds available on their platform. The emergency savings is based on the money market. It's usually around 21% per annum. Downside is withdrawal takes 24 working hrs. They also charge N250 for top ups over 10k and N75 for 5k top ups. And N25 for lower. Their platform is easy to use imo and like every other other financial platform, have good and bad reviews. I use their own cowrywise money market portfolio.

so I top up 1m, they would charge over 50,000 for the top up

emdeeCreativeW:
This is not cool

Put your money in th economy, generate employment.

Not looking good.

Oyindamolah:
so I top up 1m, they would charge over 50,000 for the top up

Ha, noo oooo. From 10k and above, top up is processed at N250 flat. and that's for top up via bank transfer. Which is how I did it. They also have the card option to top up but that one is about 1k-2k processing fee. I've funded the acct only once on my birthday cos they gave me free top up as birthday gift. That's my only issue with them.

Good day nairalander.

Has anyone subscribed to HillCrest Agro-Allied industries Ltd Commercial Paper in the past? What was your experience with them?

Going through their financial statement, the Company appears to be highly geared, also the cost of Sales seems elevated 86% of revenue.

They're offering 30% yield for 270 days tenor.

digitalinvestor:
Good day nairalander.

Has anyone subscribed to HillCrest Agro-Allied industries Ltd Commercial Paper in the past? What was your experience with them?

Going through their financial statement, the Company appears to be highly geared, also the cost of Sales seems elevated 86% of revenue.

They're offering 30% yield for 270 days tenor.

I have not subscribed to this particular CP before so I may not have much on it.

However, what I do most time if I am interested in any CP is to first check if the company is existing, if their product or services is available and in demand, if their business is generating income, check why the money is needed ..etc.

I try to look at the supporting document sent with the notice, other public information available about them on the internet and all, and once in a while call the agents of the Arranger for their insights. I read through their ratings too.

If you are looking at yield as too small, it's not. 30% yield on 270 is about the best and highest yield you will get this time around because rates are coming down. The last TB 365 days rate is just above 17% this 30% is about 24. Something %.

If you are looking at it as too big, it's not. Depending on it's ratings it carries its own risks, Also, if compared to other means of borrowing available to the issuer, its the easiest and cheapest means of borrowing to they have. They chose this because it's better for them. Also, their contemporaries are offering the same rates and it's within the threshold of current MPR.

Hello house, please i got an offer of 189 days Treasury bills at 15% in first bank today for secondry market.
I think its too low. What do you think please

decargne:
Hello house, please i got an offer of 189 days Treasury bills at 15% in first bank today for secondry market.
I think its too low. What do you think please

Don't you know that rate has fallen like an flat breast sucked aggressively by a new born baby?😋

NB: Rate is hovering around 17percent in most places irrespective of the market.

freeman67:
I have not subscribed to this particular CP before so I may not have much on it.

However, what I do most time if I am interested in any CP is to first check if the company is existing, if their product or services is available and in demand, if their business is generating income, check why the money is needed ..etc.

I try to look at the supporting document sent with the notice, other public information available about them on the internet and all, and once in a while call the agents of the Arranger for their insights. I read through their ratings too.

If you are looking at yield as too small, it's not. 30% yield on 270 is about the best and highest yield you will get this time around because rates are coming down. The last TB 365 days rate is just above 17% this 30% is about 24. Something %.

If you are looking at it as too big, it's not. Depending on it's ratings it carries its own risks, Also, if compared to other means of borrowing available to the issuer, its the easiest and cheapest means of borrowing to they have. They chose this because it's better for them. Also, their contemporaries are offering the same rates and it's within the threshold of current MPR.

Thanks for your submissions.

The rate is attractive no doubt given recent trajectory.

However, my source of worry becomes more palpable when going through the FS. The coy is into rice milling, expanded it capacity to become the third largest producer behind Olam and Dangote.

So far it has not default in meeting its obligations but the cash flow statement revelation is startling and coming to raise 6b for short term instruments there is a serious doubt about it's ability to meet near term obligations.

Please can someone help me understand how first bank calculated my interest? Did the primary market for 964k at 17.1% rate for 364 days. I selected to reinvest the interest and found interest of 199.65 credited to me today. How come?

decargne:
Hello house, please i got an offer of 189 days Treasury bills at 15% in first bank today for secondry market.
I think its too low. What do you think please

Uberchic1:
Them and Renmoney have the highest interest rate for locking money, I believe. That said,
I'll advise anyone interested to read more customer reviews and weed out the PR ones before making a decision. There's a LOT of fairmoney PR about. My experiences have been good but I've never taken loan from them or used the fairlock or put more than N2m there. And again, your funds are insured only up to N2m as it's a microfinance bank.

.


What of piggyvest, are they sec satisfied and insured?

On a serious note, my treasury bills will be maturing in tranches April, and I'm still not sure where to lock the funds after then because the current treasury bills rate regime is very discouraging. Guys, what are the safest term papers available on offer right now?

USA2019:
On a serious note, my treasury bills will be maturing in tranches April, and I'm still not sure where to lock the funds after then because the current treasury bills rate regime is very discouraging. Guys, what are the safest term papers available on offer right now?

You can invest in Mutual Funds which is 20 to 22 % p.a . Or better still you can invest in fair money which is 28% p.a .

Hi all. Has anyone received the first coupon for Dec 2024 FGN Savings bond? It's due on the 02/03/2025

richgang:
You can invest in Mutual Funds which is 20 to 22 % p.a . Or better still you can invest in fair money which is 28% p.a .

Upfront interest (yield) of the treasury bills makes it better than these mutual funds in my view. Fair money is also variable rate, which may drop quarterly, isn't it?

nicestlady:
Please can someone help me understand how first bank calculated my interest? Did the primary market for 964k at 17.1% rate for 364 days. I selected to reinvest the interest and found interest of 199.65 credited to me today. How come?

The transaction is done in multiple of N1,000 so any remaining balance on it that is not upto that N1,000 is refunded to your account.

Your money is of 964k is multiple of 1k.

Good day beautiful family. Pls I need to know if it's possible to change the account number I have been using to receive a SUKUK bond coupon for over 5yrs now. If yes please how do I go about it. Thanks 🙏

Also pls which bank accepts less than 50m for tbills primary market. I have been managing secondary market but with the rates now I would love to go for p. Market. GTB insists on 50m. Thanks