₦airaland Forum

Jerrygotswagg:
I bank with Zenith bank . I want to invest in money market funds. Do zenith bank offer mmf? If they do , what’s their rate ? And if they don’t , can I use the popular Stanbic ibtc money market even do I don’t have any account with them and I reside in Florida.
Do I have to have an account with Stanbic ibtc before I can invest in there mmf?
Please which other banks offer mmf ?

farydah:
yes Quantum Zenith

Jerrygotswagg:
you have any ideal what’s their percentage rate for mmf since Stanbic is 21 percent or how do I check the percentage

Jerrygotswagg:
I bank with Zenith bank . I want to invest in money market funds. Do zenith bank offer mmf? If they do , what’s their rate ? And if they don’t , can I use the popular Stanbic ibtc money market even do I don’t have any account with them and I reside in Florida.
Do I have to have an account with Stanbic ibtc before I can invest in there mmf?
Please which other banks offer mmf ?

jayce232:
You don't need to have a stanbic bank account to invest in stanbic mmf.

Jerrygotswagg:
thank you . How do I go about it and can I invest for just 1 year ?

Jerrygotswagg:
thank you . How do I go about it and can I invest for just 1 year ?

Youngzedd:
Stanbic IBTC Assets Management need to do better with the utility bill KYC.

Why will they insist on an electricity bill bearing your name when bills are on the landlord's name?

Even banks don't do this. They have the BVN, NIN, phone number, and bank details, yet they are strict about the name on the utility bill.

I wonder who is in charge of the KYC.

jayce232:
Apart from money market fund, it is important u try rectify it so that both names tally. Such discrepancy will likely give u issues when u are trying to do any update on your bank account.

emmasoft:
There are alternatives to utility bills that bear your name. Your NIN or bank account statement can be used in place of utility bills. Any government-issued ID that has your address will do.

Palomadove:
I have been experiencing difficulty uploading all the documents. The sizes are below 100kb. I just keep getting long codes of error message. I have sent mail to stanbic ibtc mutual fund customer care since monday but no response. Is there any help you can offer?

emmasoft:
If it has already been confirmed that the files are not too large, you may want to check your network. Submitting the form requires very good connectivity. You can even try at odd times when there is little traffic.

Alternatively, chat me up

emmasoft:
There are alternatives to utility bills that bear your name. Your NIN or bank account statement can be used in place of utility bills. Any government-issued ID that has your address will do.

olig:
Please, do FBNQUEST accept NIN slip as a proof of address/utility. I can't remember

enque:
Proof of Address – less than 3 months (Recent Electricity Bill, Recent Waste Bill, First Page of Bank Account Statement stamped & signed by the bank, Valid Driver’s License with same address on the update form)

This is what they accept.

Oyetunde49:
Please what’s the proper way to fund a MMF account. I funded mine yesterday night but I was not credited.

Jerrygotswagg:
you have any ideal what’s their percentage rate for mmf since Stanbic is 21 percent or how do I check the percentage

Jerrygotswagg:
I bank with Zenith bank . I want to invest in money market funds. Do zenith bank offer mmf? If they do , what’s their rate ? And if they don’t , can I use the popular Stanbic ibtc money market even do I don’t have any account with them and I reside in Florida.
Do I have to have an account with Stanbic ibtc before I can invest in there mmf?
Please which other banks offer mmf ?

Meerahbel:
It's poor GT fund managers are doing 22.3%

emmasoft:
For most fund managers, accounts funded before noon have same-day value and earn interest. If funded after noon, or weekend it will reflect and earn interest the next business day

galantjoe:
N5 million for every 3 months which translates to N1.7m monthly is enough for you and your family to survive in Naija.

As for me I earn 250k and am surviving very well

enque:
Do they have an app now or it's still status quo?

enque:
Do they have an app now or it's still status quo?

My Life Before the Inheritance
After completing my university education, I landed two remote jobs that allowed me to work from the comfort of my rented apartment. My wife (a business woman) and I were blessed with two beautiful kids, and we were managing our finances carefully, living off my combined income of ₦300,000 per month.

The Unexpected Inheritance
Life took a dramatic turn when my father passed away, leaving behind a significant inheritance. He had sold a plot of land, which yielded over ₦12 million. Additionally, he left us with a 4-flat property that generates ₦500,000 per annum in rental income, plus some shares whose value I'm still determining.

Weighing our options
With this newfound wealth, we are faced with several options:

1. Leave the country: We could use the inheritance to relocate to a country with better economic prospects, providing a brighter future for my family.
2. Invest in a business: We could invest in a business venture, potentially generating passive income and creating jobs for others.
3. Invest in shares: We could diversify the portfolio by investing in foreign stocks, NGX (Nigerian Stock Exchange), or other investment platforms.
4. Invest in crypto: Cryptocurrency is another investment option, but it's highly volatile and requires careful consideration.
5. Invest in MMF (Money Market Funds): A low-risk investment option that provides liquidity and returns.
6. Invest in FG Savings Bonds or T-Bills: Government-backed securities that offer relatively low-risk investment opportunities.
7. Land banking: We could use part of the inheritance to buy an acre of land, holding it for future sale.

What do you advice is the best way or better way to do with this money?

lodphil:
Pls is there a way I can get the charts for stocks in the Nigeria stock market,just like one can do using tradingview for American stocks.