₦airaland Forum

emmasoft:
You don't need to worry. By COB today, it will appear and by tomorrow you will see the interest for today.

Let's remember once again, MMF is not handled the way MDB handles cash.

alexokeke325:
.
Thanks for the reply, what's COB pls

alexokeke325:
.
Thanks for the reply, what's COB pls

emmasoft:
You don't need to worry. By COB today, it will appear and by tomorrow you will see the interest for today.

Let's remember once again, MMF is not handled the way MDB handles cash.

heavenisreal18:
Good Afternoon
I had to be at the bank physically yesterday,so I got the e-account in my mail today but doesn't come with a password.
Secondly I am trying to bind my phone with the app but is just bouncing back
Lastly, will I just transfer directly from my account to the E - account help a newbie. Thanks for your previous assistance

alexokeke325:
Thanks it have appeared, but this delay fit cause person hbp

emmasoft:
Okay. There is nothing like delay, actually that is how MMF funding works. It's a matter of rule.

There are many processes that goes behind the scene and all is for investors, to make sure their money is safe.

When you hear that an investment type is low risk, and SEC regulated, many things are put in place to make it happen and to remain as low risk.

Know this, any money you invest in MMF as capital is guaranteed. No worries.

If you talk of stocks I can say you have a lot to worry about and hence it's considered high risk investment.

D1emperor:

heavenisreal18:
Good Afternoon
I had to be at the bank physically yesterday,so I got the e-account in my mail today but doesn't come with a password.
Secondly I am trying to bind my phone with the app but is just bouncing back
Lastly, will I just transfer directly from my account to the E - account help a newbie. Thanks for your previous assistance

alexokeke325:
Pls I need answers , I transfered money from my wallet to my mmf account since 3:am today and till now it have not appeared in my mmf acc

heavenisreal18:
Good Afternoon
I had to be at the bank physically yesterday,so I got the e-account in my mail today but doesn't come with a password.
Secondly I am trying to bind my phone with the app but is just bouncing back
Lastly, will I just transfer directly from my account to the E - account help a newbie. Thanks for your previous assistance

alexokeke325:
Pls money I sent through my wallet to my mmf acc since 3:am have not appeared on my mmf acc, am worried it's my first time, hw long does it's take to appear. Help pls

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

bassdow:
The bank you went to ought to have directed you.

If you have gotten your eAccount Number, use the following details to send payment

Bank Name: UBA
Account No: 1023413552
Account Name: UBA NOM FIRST TRUSTEES STANBICIBTC MONEY MARKET FUND-COLLECTION A/C

Kindly ensure you quote your eAccount Number as that's the only way they would know the payment is from you. Would suggest paying just 5,000 naira for now. Later you pay the rest when you have gotten access to your account and can log-in

A305:
Go on Bamboo.

Go and buy dividend payinging ETFs or growth S&P500 stocks.

That way, you killing 3 birds with 1 stone.

1 - you hedging against Nigeria inflation

2 - You hedging against forex exchange

3 - You enjoying dividend.

Bonus point - Keep compounding and you won't be broke for life. Even your children will inherit and keep earning your dividends after you pass on.

An alternative

If you have real money; not the kind of chicken change I have oooo. I mean real money (Block money), the kind money that when you deposit it in a bank, Branch manager or regional manager will be calling to check in on you, sending your account statements through a gorgeous female bank staff to your house. That kind money — I will suggest you hand the money to hedge fund manager, go home to sleep and stop dragging MMF rates with us lol

heavenisreal18:
Thank you, I will just do this ,pls later like how many days after

tosinman:
Good morning. Please I withdrew from my MMF yesterday before 12pm, for the first time and it has not reflected in my bank account. Does it take that long?

bassdow:
The bank you went to ought to have directed you.

If you have gotten your eAccount Number, use the following details to send payment

Bank Name: UBA
Account No: 1023413552
Account Name: UBA NOM FIRST TRUSTEES STANBICIBTC MONEY MARKET FUND-COLLECTION A/C

Kindly ensure you quote your eAccount Number as that's the only way they would know the payment is from you. Would suggest paying just 5,000 naira for now. Later you pay the rest when you have gotten access to your account and can log-in

heavenisreal18:
I have paid the 5k as suggested will do the rest when I get password.
I registered online and also went to the bank

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

bassdow:
have you gotten your eAccount number ?
Also hope you quoted the eAccount No while making payment

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.

tosinman:
This is enlightening. But What if bank a cease operations? E.g Heritage Bank of recent. Perhaps, some have not even collected their money from the bank after the collapse.

heavenisreal18:
Yes ,I wrote that yesterday I got E-account, I did the narration putting E -account

tosinman:
This is enlightening. But What if bank a cease operations? E.g Heritage Bank of recent. Perhaps, some have not even collected their money from the bank after the collapse.

bharkarh:
can you please explain this? Is a 100m real money?

emmasoft:
Why not open an MMF instead and call it your personal pension scheme, because the PFA themselves put your money in Tbills and sometimes MMF. Invest your money in MMF and pick reinvest interest as an option, and top up each time you have funds to invest. Read my earlier post on this thread - How investors put MMF to work for a guide. I'm sure MMF will have better returns compared to the pension scheme.