₦airaland Forum

Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

IchKampf:
Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

Just notify appropriate regulators for now via email and cc your email conversation with ARM

IchKampf:
Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

Call customer care again and ask to speak with a supervisor. It could actually be an app glitch. Request for an alternative means of withdrawal.

Involving your lawyer or the regulators at this point will be an overkill.

Also request to know what happened. Could be a general problem.

akindelelawrenc:
we are talking about mutual funds here, you come here to talk about fixed deposit..... If I want to invest on fixed deposit I know the right place to go rather investing where I will have high BP

Where is the best platform to fix?

IchKampf:
Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

oga you too dey slow report them to SEC, immediately they will process your money, you're a man wake up....

I have the SEC whatsapp and email, lemme know if you need it.

IchKampf:
Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

Anybody using access bank coronation mmf?

UncleJudax:
Please which MMF platforms have the best fastest withdrawal?

First Ally, you get your money in less than an hour

lordfalcao:
Anybody using access bank coronation mmf?

It's a messy platform, walk away. The response time is like cooperative bank...

IchKampf:
Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

Thank you all for your kind responses.

Meanwhile, does anyone here with ARM currently having this redemption delay issue(s)?

CSblackpink:
I have the SEC whatsapp and email, lemme know if you need it.

Please I need both the SEC email address and the WhatsApp.
Thank you.

Good evening investors, please how do you monthly compound interest on your initial plan in STL, Is it automatically reinvested or you have to do it yourself.

IchKampf:
Thank you all for your kind responses.

Meanwhile, does anyone here with ARM currently having this redemption delay issue(s)?

Wow! Are you still having this issue? Thought it's been resolved! I use ARM and I don't have such issues though. This is really serious.

It's re-invest at the begining of new quater just like most of other MMF

Emoreni:
Good evening investors, please how do you monthly compound interest on your initial plan in STL, Is it automatically reinvested or you have to do it yourself.

IchKampf:
Hello everyone,

I’m dealing with a persistent problem with ARM regarding redemption of funds from my ARM MMF account, and I need practical advice on how to force a resolution and/or hold them accountable.

Timeline of events:
.1 October 2026 : I submitted a fund redemption request. It stayed on “processing” status.
.6 October 2026: I emailed them about the delay.
.7 October 2026: The “processing” status disappeared from my transaction history and the money was returned to my MMF account. No explanation was given, and my email was neither acknowledged nor replied to.
..7 October (same day): I submitted a second redemption request. It remained on “processing.”
.9 October 2026: I called ARM customer care. The agent promised to call me back the same day with feedback and said the issue would be resolved ASAP. No call or update followed.
.12 October 2026: I called again and repeated the complaint. Another agent said she would give me feedback.
.13 October 2026: I called a third time. The agent told me the redemption was unsuccessful and that I should make another request. The “processing” status had again disappeared from my history with no notification or explanation. Instead, I only received a generic reply to my original 6 October email. I submitted a third redemption request the same day.
.15 October (today): Still no feedback or progress.

I need help with the following:
1. Which senior person or department at ARM can I escalate this to directly?
2. Is it advisable to escalate formally to the SEC, CPC, or other regulators?
3. Would it make sense to instruct my lawyers to take legal action at this stage?

Any practical suggestions or experiences with similar issues at ARM would be appreciated.

Thanks.

.

In fact this is now getting out of hand and this your testimony along with many cases + my personal experience today reminds me of a prophecy given by our own church seer two years ago. He said starting from late 2025 onwards he dreamt that registered banks began to steal from their customers by withholding their money and clearing some amounts in people's account balances despite all these KYC verifications and that many complaints will be forwarded to CBN but the central bank will keep mute about a large number of such complaints because he could see that they are behind the banks to steal from the masses. He said with pain in his voice that it would be better to tie our savings in land purchase. He further stated that even to retrieve your money from locked savings or to debit will be a big hassle with unlocked account clearing escalating leading to massive tears and eventually a big protest. Now, asides from this complaint you made sir, I have experienced a withdrawal problem for the first time in my current bank(soon-to-be-abandoned). I wanted to move a huge sum to my new bank account to be able to smoothly open a mutual fund account only for my first bank whom I had two savings accounts since 2012 to say my signature does not tally with what is on their computer and to rectify this I should go and get Court Affidavit, utility bill, passport photographs and a valid ID despite taking my finger print as well and can see my physical face matches that which is displayed on my BVN slip. You need to see how people were stalled at this stage. Any slight change of stroke in your hand-written signature will be dismissed, showing you a glimpse of what you used to open an account(s) with them_ in most cases, years ago_ for a second then asking you to practice on a paper until you get frustrated to leave without making the intended money transfer or cash withdrawal even if it is 50k. I had to call a senior manager of another branch to talk to one of their bosses. In fact I had made several transactions this year in thousands and two others in millions. Still, they were hell-bent on me changing my signature by securing those annoying documents. And that my bank, you'll think they fix issues quickly however the simplest resolve can take 3weeks to carry out so imagine if you wanted to withdraw for emergency purposes over one signature that even advanced countries pay less attention to since advanced biometrics have been introduced. Then to make matter worse, their USSD and mobile banking app are not working forcing you to go for the paper transfer form and if your signature doesn't match what is on their computer, they mercilessly will not execute the outbound transfer unless you push some buttons.

I then went to my new bank, a lady who knows a cashier there said "madam so so, can you pls quickly credit this person's account for me". The cashier replied in a low tone, thinking I won't hear "Our network has not been going through since Monday. Even if we debit you, it won't drop in the beneficiary's account and don't bother to use the withdrawal slip as well". Same thing there "I could not withdrawal cash. I was given one silly excuse and fear just gripped my heart, remembering what our church pastor cautioned us about. Then there are rising cases of account restrictions esp when you want to withdraw legitimately from some Fintech apps with complaints left unresolved for months or transactions not going through since the start of 2026. So I will advise you sir that if you know some relevant superiors at that bank or in a legal agency/institution, rather use them but just know that involving a lawyer will eat up your money. After police officers, lawyers are the 2nd corrupt law representatives in Nigeria.

Emoreni:
Good evening investors, please how do you monthly compound interest on your initial plan in STL, Is it automatically reinvested or you have to do it yourself.

automatically reinvested

https://sec.gov.ng/about/contact-us/

You can find the contact details here.

IchKampf:
Please I need both the SEC email address and the WhatsApp.
Thank you.

harrykewell:
Good day, Baobab has a mobile app where you can conveniently manage your investment. For investments exceeding ₦50 million, we offer attractive rates above 18%. Kindly contact me on 08148465247 or visit our Head Office at 129 Ikorodu Road, Onipanu, Lagos for further discussion with me.

I will come to your office.

seyisanya:
Hello all, apologies if this has been addressed before. I am curious to know why Stanbic Dollar Fund rate has been ridiculously low for a few years now. It is currently 0.12% while most others have rates between 5 and 7%. What could be the reason for this significant disparity? Thanks!

0.12% per month or per day?

Hi everyone... Please I have 2 questions...

1. How can I open an account with coronation mmf, trust banc and STL. Do I need to download any application? (I already have first ally, but looking to diversify)

2. In terms of ease of opening account, customer service, ease of doing business with them, withdrawal and deposit turn around time and general efficiency... How would you arrange the three or based on the one(s) you are using.. How will you rate them?

Your response will be highly appreciated.

Alkason:
I will come to your office.

. Good evening sir, i will be expecting you sir. I will be sending you a pm now.

vanvickie:
Hi everyone... Please I have 2 questions...

1. How can I open an account with coronation mmf, trust banc and STL. Do I need to download any application? (I already have first ally, but looking to diversify)

2. In terms of ease of opening account, customer service, ease of doing business with them, withdrawal and deposit turn around time and general efficiency... How would you arrange the three or based on the one(s) you are using.. How will you rate them?

Your response will be highly appreciated.

good afternoon sir, I am a banker and I can tell you confidently that i can gjve you rate better than all the listed financial institution. We can meet in my company's head office or we chat and do everything online. Thank you sir

harrykewell:
good afternoon sir, I am a banker and I can tell you confidently that i can gjve you rate better than all the listed financial institution. We can meet in my company's head office or we chat and do everything online. Thank you sir

What's the name of the package/Plan? Which Bank?

Gotocourt:
What's the name of the package/Plan? Which Bank?

The bank is Baobab MFB, and the product is called Jollof Plus. I would be happy to guide you through downloading and setting up the app. Alternatively, if you would prefer to meet in person, you are welcome to visit me at our head office in Onipanu, where I can personally assist you in securing a better rate chat zero eight one four eight four six five two four seven.

Is this product under the regulatory radar of SEC?

harrykewell:
The bank is Baobab MFB, and the product is called Jollof Plus. I would be happy to guide you through downloading and setting up the app. Alternatively, if you would prefer to meet in person, you are welcome to visit me at our head office in Onipanu, where I can personally assist you in securing a better rate chat zero eight one four eight four six five two four seven.

munezo:
Is this product under the regulatory radar of SEC?

No, Jollof+ is regulated by the CBN, not the SEC.
Because it is a savings product from Baobab Microfinance Bank, it is licensed under standard banking laws and insured by the NDIC. Baobab mfb is national license microfinance bank.

harrykewell:
The bank is Baobab MFB, and the product is called Jollof Plus. I would be happy to guide you through downloading and setting up the app. Alternatively, if you would prefer to meet in person, you are welcome to visit me at our head office in Onipanu, where I can personally assist you in securing a better rate chat zero eight one four eight four six five two four seven.

another agent spotted..... Just be careful don't come here later and start crying

harrykewell:
No, Jollof+ is regulated by the CBN, not the SEC.
Because it is a savings product from Baobab Microfinance Bank, it is licensed under standard banking laws and insured by the NDIC. Baobab mfb is national license microfinance bank.

While this could appear somewhat attractive, most micro finance institutions are vulnerable to operational issues. If issues occurred, the guaranteed and protected amount of money by NDIC on huge savings is not more than 2M.

Even though Jollof+ offer of up to 21.6% per annum on locked savings can be significant, it still needs a very critical reflection. Imagine a friend of mine was telling me if he deposit about 50M for a year, then he would be credited 10.8M upfront and could immediately reinvest the 10.8M interest on MMF. Now, if anything goes wrong, the decision leaves 48M of the 50M vulnerable to loss as only 2M is guaranteed of recovery.

So any decisions taken on this should be a reflection of informed choice.

Princewalexy99:
While this could appear somewhat attractive, most micro finance institutions are vulnerable to operational issues. If issues occurred, the guaranteed and protected amount of money by NDIC on huge savings is not more than 2M.

Even though Jollof+ offer of up to 21.6% annum on locked savings can be significant, it still needs a very critical reflection. Imagine a friend of mine was telling me if he deposit about 50M for a year, then he would be credited 10.8M upfront and could immediately reinvest the 10.8M interest on MMF. Now, if anything goes wrong, the decision leaves 48M of the 50M vulnerable to loss as only 2M is guaranteed of recovery.

So any decisions taken on this should be a reflection of informed choice.

The ₦2m NDIC limit is a fact, and more investors need to scrutinize financials exactly like you are doing.
I work with Baobab, and I highly encourage you to do your independent research. Here are a few quick facts to help:
1. Institutional Strength: Baobab is part of a global group. Our annual reports are fully public online, and we are audited by Big Four firms. You can easily inspect our balance sheet and interest expenses yourself.
2. Test the Waters: You dont have to lock your fund for a whole year. Jollof+ allows flexible tenors. you can test our liquidity and payout speed with a 1-month or 3-month fix first to minimize risk.
3. Open Invitation: I am completely available to answer any tough questions or provide data. If you are in Lagos, we can even meet in person at our Head Office on Ikorodu Road to walk through everything or call me or chat zero eight one four eight four six five two four seven
Take your time to do your findings, and let me know if you need any clarification!

No crying in the casino.😂😂😂😂😂😂

akindelelawrenc:
another agent spotted..... Just be careful don't come here later and start crying

harrykewell:
good afternoon sir, I am a banker and I can tell you confidently that i can gjve you rate better than all the listed financial institution. We can meet in my company's head office or we chat and do everything online. Thank you sir

Thank you for your response. While I appreciate your efforts, I will take this under advisement.

I am actually looking to invest in a separate MMF at this time for a specific goal.

Please can someone assist shed more light on the following..
How can I open an account with coronation mmf, trust banc and STL. Do I need to download any application? (I already have first ally, but looking to diversify)

2. In terms of ease of opening account, customer service, ease of doing business with them, withdrawal and deposit turn around time and general efficiency... How would you arrange the three or based on the one(s) you are using.. How will you rate them?

Your response will be highly appreciated.

CSblackpink:
No crying in the casino.😂😂😂😂😂😂

Comrade, reduce the volume of this vawulence .