tritritri:






Read well to understand before u comment . i said if he is like those people .

brother sale the house. put the money for t.bill , do t.bill till u reach 50 yr old.

#Case Close



at list by 60yrs u go finally get 1 rental house to ur name and 1 duplex so ur wife and children no go cry for house rent in 60yr time.

Thank you even i sell still have one for rent so i will sell one and leave one

ahiboilandgas:
Example of diversification is if u pit 10m in tb and earn 1.5 m for 365 u can buy some euro like 1000 for 410 and put in dorm account at 2 percent ,then buy land of 750k ,then use then reinvest the remain in mmf etc

That's stability,and assures us of consistency but it leaves us with nothing to flex.....enjoy......

zamirikpo:


That's stability,and assures us of consistency but it leaves us with nothing to flex.....enjoy......

oya chop 200 k inside ....it approved

kamsy4God:
Pls house, I need your input,; A friend of mine wants me to loan her money, 400k which she will pay back within a year @ 40k monthly. Pls what interest rate should be ideal?. I was thinking of 14% since its the treasury bills rate for one year
NB the 400k is an upfront I got from d last week TB.
I am sure she will not default .

Thanks

I highlighted some things in your post. But i won't comment of them.
As per interest to be charged, I would rather you ask her how much interest she can afford. 14% is a bit on the high and you may risk default.

ahiboilandgas:
oya chop 200 k inside ....it approved

Diyke4rich:


Thank you even i sell still have one for rent so i will sell one and leave one

We have some things in common. But I have decided to leave the rental properties and use of my undeveloped properties to do T.bills
My strategy will be something like this? Raise some of the needed capital from the sells of empty land. Do T.bills and keep adding the rent from the rental properties to the t.bills.
NB.
If you don't have empty lands other places, you can use one of your rental properties as a collateral for loan, and do T.bills (instead of outright sale). I hope you do have a 9-5 job or a day business to help you for the necessary daily living expenses while you build up your investment portfolios?

To the gurus in the house, I have a nagging question.
What happens if I have a yet to mature T.bills still running and an event such as death occur. How can my dependents get my money when it reverts back to my account?

eagleeye2:
To the gurus in the house, I have a nagging question.
What happens if I have a yet to mature T.bills still running and an event such as death occur. How can my dependents get my money when it reverts back to my account?

Letter of administration via Probate Registry.

mymadam:

Letter of administration via Probate Registry.

To be honest the protocol no be here. We went through it when we lost my old man, took almost 3 years before we could get it.

eagleeye2:
To the gurus in the house, I have a nagging question.
What happens if I have a yet to mature T.bills still running and an event such as death occur. How can my dependents get my money when it reverts back to my account?

more answers please...

This is my biggest concern right now.

Do I ask the bankers or lawyers? Hmm...

veneza:
not everybody knows when you collect rents if you don't tell them,because you can receive rent from your tenants anytime of the year depends on when they have cash available to pay in some cases.
also you should know that the rents you receive is your interest not your capital, the property is your capital because property appreciate with time.
my advice to you is to be saving all your rents and then invest it in treasure bills then you have doubled your interest, even if it's small interest rate but in the near future when starts enjoying it I hope you remember.
Am telling you this because am doing same coming year,I just found out about Tbills I have to keep learning more before then,not all that glister are gold.

Woman with brain. Kudos

RealityShot:
more answers please...

This is my biggest concern right now.

Do I ask the bankers or lawyers? Hmm...

Just as mymadam mentioned, The relatives will go to a Probate court to get Letter of Administration which they will use to get access to the deceased account. In Lagos, there is a 10% tax on the total amount in the bank(s). If the deceased died Testate, i.e with a registered Will, you get a Probate letter and the executor(s) of the Will gets access to the funds. Same 10% tax is also involved.

PS; Just like most govt establishment, if you don't know somebody or tip the right people in the court, the process can drag for months

eagleeye2:
To the gurus in the house, I have a nagging question.
What happens if I have a yet to mature T.bills still running and an event such as death occur. How can my dependents get my money when it reverts back to my account?

An easy way out for me would be to my investments done in a company name and have my spouse and I as signatories to the account.

That is the plan I have. While I am comfortable with it, it may not necessarily be the best option or a suitable option for others.

sammily:


Just as mymadam mentioned, The relatives will go to a Probate court to get Letter of Administration which they will use to get access to the deceased account. In Lagos, there is a 10% tax on the total amount in the bank(s). If the deceased died Testate, i.e with a registered Will, you get a Probate letter and the executor(s) of the Will gets access to the funds. Same 10% tax is also involved.

so please what's the "next of kin" thingy for then?

Thought will get access if I go...

RealityShot:
so please what's the "next of kin" thingy for then?

Thought will get access if I go...

Next of kin is the person who gets notified in the case of death. It does not grant you automatic access to the funds or assets of the deceased.

Infinitisi:


Next of kin is the person who gets notified in the case of death. It does not grant you automatic access to the funds or assets of the deceased.

I see...
Well let's hope they don't need the money in a hurry at that time...

Thank you

RealityShot:
so please what's the "next of kin" thingy for then?

Thought will get access if I go...

That's just bank information. the Next-of-Kin can't have access to a bank account.

Infinitisi:


An easy way out for me would be to my investments done in a company name and have my spouse and I as signatories to the account.

That is the plan I have. While I am comfortable with it, it may not necessarily be the best option or a suitable option for others.

That's a good idea, or you could just introduce your spouse as a co-signatory to your existing account or open a joint account with either-to-sign mandate for both of you.

eagleeye2:
To the gurus in the house, I have a nagging question.
What happens if I have a yet to mature T.bills still running and an event such as death occur. How can my dependents get my money when it reverts back to my account?

Good question. That’s why you need to have a Last Will and Testament made. Approach a lawyer to help you prepare one. I am still a young man and I don’t have too much wealth but I have a will. In this country we are afraid to talk about death but surely it’s a reality. If you have any financial investments no matter how little, secure them for your loved ones by having a Last Will and Testament. I will not repeat the mistakes of my parents and grandparents.

Infinitisi:


An easy way out for me would be to my investments done in a company name and have my spouse and I as signatories to the account.

That is the plan I have. While I am comfortable with it, it may not necessarily be the best option or a suitable option for others.

I thought about joint account and both of us being signatories to the account. And the account will strictly be for investments.
But, why asked the initial question was that I had such account with my late mum. After she died i was operating the account until this BVN... registration thing. And she was already dead. My 200k almost got trapped in that account at a crucial point in my low point. I did BVN.. but the bank was asking me to provide hers. Let's just say Nigeria likes long process and procedures.

bendo75:


Good question. That’s why you need to have a Last Will and Testament made. Approach a lawyer to help you prepare one. I am still a young man and I don’t have too much wealth but I have a will. In this country we are afraid to talk about death but surely it’s a reality. If you have any financial investments no matter how little, secure them for your loved ones by having a Last Will and Testament. I will not repeat the mistakes of my parents and grandparents.

Sharp guy

eagleeye2:

I thought about joint account and both of us being signatories to the account. And the account will strictly be for investments.
But, why asked the initial question was that I had such account with my late mum. After she died i was operating the account until this BVN... registration thing. And she was already dead. My 200k almost got trapped in that account at a crucial point in my low point. I did BVN.. but the bank was asking me to provide hers. Let's just say Nigeria likes long process and procedures.

How were you able to later pass the hurdle?

Grupo:


How were you able to later pass the hurdle?

1. Swore an affidavit in court
2. went to Local government to register her death
3. Took her Identity card, plus burial brochure and posters
4. the person who paid the money came along with her teller

Then they opened the account and asked that I shouldn't withdraw more than 50k (pending the conclusion of their investigation) .

eagleeye2:
To the gurus in the house, I have a nagging question.
What happens if I have a yet to mature T.bills still running and an event such as death occur. How can my dependents get my money when it reverts back to my account?

Another approach I see as answer to this your question is that, if the investment option is not to rollover at maturity, an active ATM can fix the issue. Ensure there is an active ATM that the PIN is known to your NOK, incase your fund is considerably huge you can increase the transferable amount by ATM to the highest available. So in case of such eventuality, what there will do is to gradually transfer the money. That way, they will be no need of paying the 10%, the lawyer and court bills too will be out of it.

However, you most ensure your next of kin or who ever it is that have access to that card and pin is a very trusted and reliable person. You should also ensure the person has done a related transaction with such card before. Then finally be sure your cards is not close to expiration and the secret is well kept from scammers and fraudster.

All this is to be incase will be incase such happens as you ask not if it had already happened ooo.

freeman67:



Another approach I see as answer to this your question is that, if the investment option is not to rollover at maturity, an active ATM can fix the issue. Ensure there is an active ATM that the PIN is known to your NOK, incase your fund is considerably huge you can increase the transferable amount by ATM to the highest available. So in case of such eventuality, what there will do is to gradually transfer the money. That way, they will be no need of paying the 10%, the lawyer and court bills too will be out of it.

However, you most ensure your next of kin or who ever it is that have access to that card and pin is a very trusted and reliable person. You should also ensure the person has done a related transaction with such card before. Then finally be sure your cards is not close to expiration and the secret is well kept from scammers and fraudster.

All this is to be incase will be incase such happens as you ask not if it had already happened ooo.

Yes. My NOK, already have the pin of all my accounts. But, was just asking incase the T.bills is still running and the ATM,, gets expired or lost.
It's well with our hustles.

good day House, pls kindly put me through on how to use REMITA for payment on gtbank website as instructed. av bn avin nightmares paying through REMITA for urgent payment. if its available on gtbank internet banking platform kindly put me through as all my efforts to use REMITA proof abortive.
thanks in anticipation.

I don't think your suggestion is right. No bank in Nigeria will give you 2 percent interest for depositing Euros with them.

ahiboilandgas:
Example of diversification is if u pit 10m in tb and earn 1.5 m for 365 u can buy some euro like 1000 for 410 and put in dorm account at 2 percent ,then buy land of 750k ,then use then reinvest the remain in mmf etc

One-Year T-Bills Yield Eases to 16.73% as CBN Mops up N200b
https://businesspost.ng/2018/11/24/one-year-t-bills-yield-eases-to-16-73-as-cbn-mops-up-n200b/

condomuser:
I don't think your suggestion is right. No bank in Nigeria will give you 2 percent interest for depositing Euros with them.

True talk.
It's usually less than one percent.

sammily:


Just as mymadam mentioned, The relatives will go to a Probate court to get Letter of Administration which they will use to get access to the deceased account. In Lagos, there is a 10% tax on the total amount in the bank(s). If the deceased died Testate, i.e with a registered Will, you get a Probate letter and the executor(s) of the Will gets access to the funds. Same 10% tax is also involved.

PS; Just like most govt establishment, if you don't know somebody or tip the right people in the court, the process can drag for months

so the emboldened makes it easy to access the funds, right?

Are there special lawyers for that?

Thank you

dipoolowoo:
One-Year T-Bills Yield Eases to 16.73% as CBN Mops up N200b
https://businesspost.ng/2018/11/24/one-year-t-bills-yield-eases-to-16-73-as-cbn-mops-up-n200b/

wow!

eagleeye2:

1. Swore an affidavit in court
2. went to Local government to register her death
3. Took her Identity card, plus burial brochure and posters
4. the person who paid the money came along with her teller

Then they opened the account and asked that I shouldn't withdraw more than 50k (pending the conclusion of their investigation) .

wow, that's a sh¡t show!
#spits

Too much stress in this country of ours, law is Sh!t, bankers are worse and together it will be hell for sure!
SMH...