₦airaland Forum

EquityM:
If you have a domiciliary account, you can only pay in USD if you go with CardinalStone, so I recommend Norrenberger, as they can source USD for you in the naira rate. However, you can open a Sterling USD account online, but just stick with Norrenberger.

Jayce242:
@bold are u saying one can pay to Norrenberger in naira & it will be converted to dollar? I thought they said payment must be through dollars?

Donbrig:
This tax issue is gonna push Nigerians to the wall, I am worried of what is ahead of us..... Massive taxation of citizens is one of the conditions World-Bank, IMF often give our goverment before lending them money, we saw how it played out in Kenya. The issue is not the tax, but a govt mismanaged system that doesn't function...

Jayce242:
The luck our leaders have is that Nigerians are very docile people & have made peace with their chains. The tax issue that led to the bloody demonstration in Kenya was not this bad. Barely 2 years subsidy was removed, our leaders no allow Nigerians breath, they introduced another tax. A considerate president would have at least waited for second term before introducing any form of tax. Considering the negative impact fuel subsidy removal had on Nigerians. After fuel subsidy removal, borrowing increased. Highest is 2027 they will bring another one after income tax. Our leaders have no conscience!

Donbrig:
Norrenberger is the best when it comes to dollar mutual fund.

Jayce242:
@bold are u saying one can pay to Norrenberger in naira & it will be converted to dollar? I thought they said payment must be through dollars?

Preator:
I dont really know what the furore around the new tax law is. The law is mostly targeted at the rich and comfortable. Almos lt every poor nigerian will either pay no tax or experience reduction in tax. If you are impacted by the tax law, it means you earn well by nigerian standard(circa 20m a year)

The electronic money transfer levy is not a new tax. They just shifted the burden from receiver to sender. So no vendor should ask you to add N50 to any transfer anymore since you will be paying

I knw there are some fears around the indirect taxes but even those do not impact the masses. Na all of una with millions in Capital and money market the guy is asking to pay more 😂

Jayce242:
A tax net that starts from an annual income of 800k is targeted at the rich & comfortable?? So why didn't they start from 20m?? Where are the CNG vehicles that govt promised to distribute immediately after fuel subsidy was removed? Is everybody not buying the fuel now? Like I said alot of Nigerians have made peace with their chains, so there is no point wasting time on nonsensse debate.

IamtheDef:
Are there risks initiating withdrawal for a large sum now, I want to move all my funds from Stanbic somewhere else but I'm trying to exercise caution, don't want trouble from nowhere

Preator:
No. The tax authority wont see it as an income.

EquityM:
Today, First Ally paid out its dividend. Already reinvested, no tax drama...

EquityM:
It's preferable to diversify and try out a new mutual fund as opposed to shifting money around, which could impede capital growth. Last week, I invested 10,000 naira in the CardinalStone Alpha income fund, and I received a dividend of more than 700+ naira from the capital gains of the fund on the 1st of Jan, which is different from my daily earnings. Soon, I'll top it off and see how it goes. One fund would undoubtedly increase if another were declining.

temi4fash:
I have not been able to access my investerapp for about 3 days now. Is it same with everyone?

Cc:emmasoft

temi4fash:
Which app is this please.

I want to be very intentional with my investing this year..

Donbrig:
It is your hard-earned money, no risk withdrawing your money at all, even if it is over a billion naira.. If you are withdrawing huge fund, you might have to give Stanbic about 2 to 3 working days to process your redemption.

The way Stanbic MMF rates dey dance skelewu nowadays is very confusing...

Just port to other fund managers with higher interest rates at the moment, but don't close or withdraw everthing from your Stanbic MMF fund, because table might turn in their favour tomorrow...

temi4fash:
I have not been able access my investerapp for about 3 days now. Is it same with everyone?

Cc:emmasoft

Jayce242:
The luck our leaders have is that Nigerians are very docile people & have made peace with their chains. The tax issue that led to the bloody demonstration in Kenya was not this bad. Barely 2 years subsidy was removed, our leaders no allow Nigerians breath, they introduced another tax. A considerate president would have at least waited for second term before introducing any form of tax. Considering the negative impact fuel subsidy removal had on Nigerians. After fuel subsidy removal, borrowing increased. Highest is 2027 they will bring another one after income tax. Our leaders have no conscience!

t33why:
All good here for myinvestar, had this issue with my Norrenberger app and web, the day I was lucky enough to get into it, I withdrew all my funds

EquityM:
You need strong wifi; sometimes my 5G does not allow me to log in to my Investar app. Try and clear the cache in the app, restart your phone, or find good WiFi and connect.

EquityM:
CardinalStone. The app is on the Play Store or Apple Store. "CS Alpha"

temi4fash:
Lool.
I use the web Norrenberger and it has not failed me before.

This issue with my myinvestar app is giving me concern.

3 days now no access immediately after I on-boarded and the customer care called me that day self..

Maybe I would reach out to them

Neurotika:
Most people complaining about the tax law clearly haven’t read it, especially the provisions on personal income tax/PAYE. The arguments flying around are not just wrong, they reveal a worrying level of intellectual laziness.

If you are not seriously wealthy, and by that I mean earning above 200m annually, this law is not even your problem. There’s no significant difference in your tax payable below this income bracket.

For anyone below around 20m annually, your tax payable is even lower compared to the old law. This is not a matter of sentiment or politics. It is simple arithmetic. Apply the same income, factor in all statutory deductions, run the numbers under the old law and the new one, and compare the outcomes.

That is not to say the government should not be held accountable. There are real issues to challenge even under the new tax act. But those conversations only carry weight when they are grounded in facts. Otherwise, we are just making noise.

I watched a video yesterday by one DonAza, a popular YouTube analyst, and the analysis was frankly ridiculous…and It shows how distorted this conversation has become.

We need less outrage and more literacy. Read the law. Do the maths. Then talk.

Happy new year everyone.

Jayce242:
Regardless of whether it affects the rich or poor, government shouldn't be talking about tax in any form now! Is this government all about tax? It's been tax! tax! Countless bank deductions for one form of tax or another, especially at night ever since this govt got into power & nothing has improved! These things we never experienced in previous govt. Borrowing has increased after subsidy was removed! You can't blame the people because we don't trust the govt. There is no transparency in this govt. Not after all the distortions & manipulations that have riddled this new tax law. Previous monies are never accounted for. Whatever affects the rich still find a way to get to the poor through inflation. Nigerians are angry!

Preator:
I dont really know what the furore around the new tax law is. The law is mostly targeted at the rich and comfortable. Almos lt every poor or struggling nigerian will either pay no tax or experience reduction in tax. If you are impacted by the tax law, it means you earn well by nigerian standard(circa 20m a year)

The electronic money transfer levy is not a new tax. They just shifted the burden from receiver to sender. So no vendor should ask you to add N50 to any transfer anymore since you will be paying

I knw there are some fears around the indirect taxes but even those do not impact the masses. Na all of una with millions in Capital and money market the guy is asking to pay more 😂

t33why:
All good here for myinvestar, had this issue with my Norrenberger app and web, the day I was lucky enough to get into it, I withdrew all my funds

temi4fash:
I have not been able access my investerapp for about 3 days now. Is it same with everyone?

Cc:emmasoft

Donbrig:
I once invested in equity and I lost everything in few weeks, and swore never again... I felt so bad and was inspired to write a book on "The Iniquities Of Equity"


If your body nor full, abeg nor put body Ohh.