₦airaland Forum

Streetinvestor2:
Why don't u tell us what 2018 and 2026 have in common in relation to Ngx or the economy

pre-election year

https://x.com/i/spaces/1lPJqvmAwdMxb

Discussing today's trading session on the NGX as the market wraps up.

awesomeJ:
Are you saying this from experience or just what you think? If the former, you might need to get your bank to clarify what they charged you for as it's definetely not WHT in that context. if the latter, you're not accurate.

Regulation is that 30% of MPR is paid as interest on savings accounts. That's currently 8.1%, if you're disqualified due to exceeding the debit counts, you do not qualify for said interest, so you do not earn it and thus cannot be taxed on it.

You make it sound like you earned X as interest, but the the bank then charges you X + A as fees for breaching their debit count, that's not the case. Being under the debit count per month is a prerequisite for earning the interest, by breaching the count, you become ineligible for the interest, not that you get charged any fees hat outweighs the interest.

Well explained

EquityM:
Living abroad, Nigerian banks charge excessively for SMS charges; only Sterling Bank does not charge at all, and they have a very swift transfer service. I usually transfer my savings to FirstAlly and then transfer it back to my Sterling Bank if I need to withdraw. UBA already charged me like 3k for SMS alerts from the beginning of Jan till now. If not for my dividend payment that usually goes there, I wouldn't mind closing the account.

Sterling just started. I have said it severally, before sterling, the only bank that does not charge you for transfer fee (if you like do 100 transfers in a day), SMS alert charge, ATM issuance fee ( their ATM card is free and lasts longer for about 6 years bar misplacement or damage), ATM card maintenance fee and all sundry charges other Nigerian banks do is Standard Chartered Bank. The likely of getting mints as released from the CBN through their banks and ATM without trading like other banks do.

The only thing they have in common with other Nigerian banks is that they operate here in Nigeria and they will not pay you interest on your savings for the month if you do 4 upto transactions that makes money leave your account.

The down side to them is that their branches are few and you will spend more time if you have any need to visit them.

ARADEL. ±
CONOIL. ±
ETERNA. ±
OandO. +0.62%

Hello guys. I have been following this thread as a guest for a while. Great job!
Please advise on Neimeth. Is 11.10 a good entry/re-entry point or is profit-taking still in the air?

I am a customer. They recently started charging for cards but you are right on transfer fees being free.

freeman67:
Sterling just started. I have said it severally, before sterling, the only bank that does not charge you for transfer fee (if you like do 100 transfers in a day), SMS alert charge, ATM issuance fee ( their ATM card is free and lasts longer for about 6 years bar misplacement or damage), ATM card maintenance fee and all sundry charges other Nigerian banks do is Standard Chartered Bank. The likely of getting mints as released from the CBN through their banks and ATM without trading like other banks do.

The only thing they have in common with other Nigerian banks is that they operate here in Nigeria and they will not pay you interest on your savings for the month if you do 4 upto transactions that makes money leave your account.

The down side to them is that their branches are few and you will spend more time if you have any need to visit them.

Sterling Bank also has a subsidiary platform called Switch. It is designed for people living abroad. You can open a free USD, EUR, and GBP domiciliary account; 2M naira daily transactions without OTP; and pay 10.75 naira charges to other banks using Switch.

freeman67:
Sterling just started. I have said it severally, before sterling, the only bank that does not charge you for transfer fee (if you like do 100 transfers in a day), SMS alert charge, ATM issuance fee ( their ATM card is free and lasts longer for about 6 years bar misplacement or damage), ATM card maintenance fee and all sundry charges other Nigerian banks do is Standard Chartered Bank. The likely of getting mints as released from the CBN through their banks and ATM without trading like other banks do.

The only thing they have in common with other Nigerian banks is that they operate here in Nigeria and they will not pay you interest on your savings for the month if you do 4 upto transactions that makes money leave your account.

The down side to them is that their branches are few and you will spend more time if you have any need to visit them.

I was down ~20% in NEIMETH between December and early this year (got stuck, it was meant to be a swing). Currently, I am sitting on 70%+ after selling a small fraction of my significant holding. So, do what thou may with the information. Although the pharmas are enjoying the benefits of the exit of two multinatonal players, investors need to be cautious--enter at the right price or, better still, with patient funds that can be tied down long term if things go south fast.

wiki15:
Hello guys. I have been following this thread as a guest for a while. Great job!
Please advise on Neimeth. Is 11.10 a good entry/re-entry point or is profit-taking still in the air?

nicestlady:
Any thoughts on the MCO Penny ltd savings? It promises 26% interest per annum with upfront interest payment. How safe is it? Anyone invested before?

Members of the house have said it all. Don’t save money with any institution not regulated by CBN and insured by NDIC. Don’t buy any non-bank financial investment product not regulated by SEC. Otherwise you’d soon be separated from that money permanently.

If you are looking for high interest savings products, try the fintech/micro finance hybrids like VFD who still pay up to 23% p.a. on savings depending on the tenure.

chimex38:
pre-election year

If it is based on politics. I will disagree with his position. as ngx stands to be gold mine. This government is so corrupt and has looted so much for this election. All you need to say is I stand on his di.ck and collect billions.
And anyhow some will end on ngx.You see that ASI will touch 250k this yr for political campaigns

Streetinvestor2:
If it is based on politics. I will disagree with his position. as ngx stands to be gold mine. This government is so corrupt and has looted so much for this election. All you need to say is I stand on his di.ck and collect billions.
And anyhow some will end on ngx.You see that ASI will touch 250k this yr for political campaigns

Election year is just as good a reason as any.

As I stated with the tax excuse, market commentators will always find a reason for market movement. The fact is that the Nigerian economy is due for a repricing, and the stock market is not going to be left out. FMCG sector has been repriced and now its the turn for the banking sector.

You can choose to say it is because someone saw big foot or because it is an election year; my own is that make you sha buy Zenith bank and Ecobank stock.

Thank you for the advice. Will not be investing with them.

mikeapollo:
If possible, avoid all these schemes and go for credible and well structured schemes e.g. T. Bills, FG Bonds, CP that would give you peace of mind, even if the interest rates are not the highest

Watch out!
A key pointer that should warrant your suspicion is when they offer you mouth-watering interest rates e.g. 26%; at a time when FG's TB rates is about 17.5%. and CPs are about 18%-20%

Please walk away in peace

Thank you

PropTrader:
Members of the house have said it all. Don’t save money with any institution not regulated by CBN and insured by NDIC. Don’t buy any non-bank financial investment product not regulated by SEC. Otherwise you’d soon be separated from that money permanently.

If you are looking for high interest savings products, try the fintech/micro finance hybrids like VFD who still pay up to 23% p.a. on savings depending on the tenure.

wiki15:
Hello guys. I have been following this thread as a guest for a while. Great job!
Please advise on Neimeth. Is 11.10 a good entry/re-entry point or is profit-taking still in the air?

Neimeth will do at least 14.4 (very bullish 21) but why would you want to enter when the asset has already done 120% on this leg...spend some time and look for other assets to invest in early but if you must jump into neimeth now then i suggest you be conservative....if you are already in it and want to add more, then by all means.

nosa2:
Election year is just as good a reason as any.

As I stated with the tax excuse, market commentators will always find a reason for market movement. The fact is that the Nigerian economy is due for a repricing, and the stock market is not going to be left out. FMCG sector has been repriced and now its the turn for the banking sector.

You can choose to say it is because someone saw big foot or because it is an election year; my own is that make you sha buy Zenith bank and Ecobank stock.

The first current account I ever had was with oceanic bank.
The first stock I had in large numbers then was oceanic bank.The first loss I had in six zeros in this business was oceanic closing down .Till date I don't understand how the take over reconstruction happened. All I knew was my investment was reduced to worthless. You can never find me and ecobank in the same sentence. I even abandoned my current account with them join with little caah in it..I dislike access and hate ecobank because of past experience
Na zenith be bank for your MH learning process..lol.But you no dey sound convincing in the marketing business. You they tell the public openly is all about your own interest.Who does that..lol

Streetinvestor2:
The first current account I ever had was with oceanic bank.
The first stock I had in large numbers then was oceanic bank.The first loss I had in six zeros in this business was oceanic closing down .Till date I don't understand how the take over reconstruction happened. All I knew was my investment was reduced to worthless. You can never find me and ecobank in same sentence. I even abandoned my current account with them join

No wahala. You can buy Zenith Bank

nosa2:
No wahala. You can buy Zenith Bank

My street sense says oando not based on FA
My final answer oando..lol
That will be from sells I am carrying out but never new fund till 2027.I sold jaiz bank on Thursday. JB ,APR and c and I leasing will likely go this week

Streetinvestor2:
The first current account I ever had was with oceanic bank.
The first stock I had in large numbers then was oceanic bank.The first loss I had in six zeros in this business was oceanic closing down .Till date I don't understand how the take over reconstruction happened. All I knew was my investment was reduced to worthless. You can never find me and ecobank in same sentence. I even abandoned my current account with them join

You forget to add OCEANIC bank declared a 1 for 10 bonus share in July 2009 before CBN closed their shop on 14th September 2009 due to non performing loans


BARGAIN HUNTERS TAKE NOTE!

PETERiCHY:
You forget to add OCEANIC bank declared a 1 for 10 bonus share in July 2009 before CBN closed their shop on 14th September 2009 due to non performing loans


BARGAIN HUNTERS TAKE NOTE!

Bargain hunters should take note of bargain opportunities in OCEANIC? 😁

SonofElElyonRet:
Kian Smith Refinery is a Nigerian company that built and operates the country's first gold refinery, licensed in 2018, focusing on local value addition, empowering artisanal miners, and positioning Nigeria as a West African gold hub by refining gold to 99.99% purity and promoting responsible sourcing. Led by Nere Emiko, the company aims to integrate the gold value chain within Africa, creating jobs and economic growth, producing refined gold, medallions, and strengthening the regional solid minerals sector.
Key aspects of Kian Smith Refinery:
Pioneering Role: Awarded Nigeria's first gold refinery license, establishing local refining capacity.
Value Addition: Moves beyond exporting raw gold to adding value locally, boosting the economy.
Sustainability: Champions responsible mining, community empowerment (like the Zokia System Platform), and sustainable practices.
Products: Produces high-purity gold (99.99%) and cultural medallions.
Vision: Aims to make Nigeria a central hub for gold refining and trading in West Africa.
Leadership: Founded by Nere Emiko, who drives the company's mission.
Impact and goals:
Strengthening Nigeria's gold ecosystem with partners like the Central Bank of Nigeria (CBN).
Empowering over 1,200 artisanal miners.
Driving job creation and investment in the solid minerals sector.

Sounds very sexy (Nosa2) doesn't it?

Showing Japaulgold how to do it.

Sounds like your type of play.

When are they listing so you can accumulate some "tasere" millions of their shares ?

PETERiCHY:
You forget to add OCEANIC bank declared a 1 for 10 bonus share in July 2009 before CBN closed their shop on 14th September 2009 due to non performing loans


BARGAIN HUNTERS TAKE NOTE!

That bank did me strong thing walahi. As I no get BP that time not fit affect me again on ngx.I loss six zeros of naira investment as of then.How much was land in good locations in owerri then which I could have bought. I so believed in that woman management and her name was everywhere. I didn't even understand what happened with my shares till date.I was receiving two different kind of dividend slips in different pieces. They had ordinary shares dividend sent and preferential shares dividend in dollars that made no sense.Some arrived after the cheque had expired .
I wonder why oga nosa is interested in thr shares when I noticed over the yrs they have closed so many branches in different states. The bank always had network problem if you go thr to do anything.

Streetinvestor2:
My street sense says oando not based on FA
My final answer oando..lol
That will be from sells I am carrying out but never new fund till 2027.I sold jaiz bank on Thursday. JB ,APR and c and I leasing will likely go this week

Make we go use the money chop fish

https://open.spotify.com/episode/3DZTK4S0IoVAKzrFDAtYGE

A summary of today's trading session on the NGX.

zendi:
Sounds very sexy (Nosa2) doesn't it?

Showing Japaulgold how to do it.

Sounds like your type of play.

When are they listing so you can accumulate some "tasere" millions of their shares ?

Japaul is working underground

Agbalowomeri:
Make we go use the money chop fish

Na only fish u want. How many babe you go carry join body as the money fit buy shark fish

That's where the gold is located...

SonofElElyonRet:
Japaul is working underground

https://www.youtube.com/watch?v=n2CMh1f2shQ

A summary of today's trading session on the NGX

KarlTom:
That's where the gold is located...

Witty
In fact this gold refinery issue has renewed my interest in Japaul. Looking to double my holding if I have spare funds. I believe in the vision "which is for an appointed time"

SonofElElyonRet:
Japaul is working underground

The SEED has being SOWED, Before July 2026 JAPAULGOLD will experience an ASTRONAUTICAL RISE IN PRICE ✈️🛫✈️

BARGAIN HUNTERS TAKE NOTE! 🎗️

KarlTom:
That's where the gold is located...

Perfect.

PETERiCHY:
The SEED has being SOWED, Before July 2026 JAPAULGOLD will experience an ASTRONAUTICAL RISE IN PRICE ✈️🛫✈️

BARGAIN HUNTERS TAKE NOTE! 🎗️

You don start again. This yr I no wan fight on top any stock again because nigeria corruption and manipulation don take over ngx
On another not scoa go soon reach #50 soon.It is doing 10% every day.Any thing is now possible on ngx.
It is obvious foreign investors are seeing it and have decided to avoid our market