₦airaland Forum

aremso:
Latest by noon

DigitalMallam:
Simply have a will/testament in place, it doesn't cost much.

Studies have it that 80% of Nigerian don't have a will.
Having one in place doesn't mean you will soon die.
To ensure your hard earn wealth or sweat does not end up in wrong hands or forfeited to banks and govt. Pls have a will. The law doesn't recognize next or kin, in addition you can do your next of kin a whole lot of good by having a will. You don't want to imagine what next of kin go through before they can access your fund when you're long gone. In most cases govt charge exorbitant fees to get necessary doc before they can access the fund.
I have witnessed first hand the devastating effect of not having a will by friends and colleagues.
Come to think of it, it does not cost much to have one in place.

After a thorough search, I found United Capital (trustees) ideal for me, and i just started mine. It cost only 17k. No reoccurring annual fee. I spent way above that on beer daily.

Curvinus:
I tried to bid for Treasury Bills at Access Bank for their 324 days tenor with a 12 percent discount rate, but their N18,000 custodian fee put me off instantly. The upfront payment was about 620k and the principal is N6m. Is this a good deal?

Grupo:
Are you sure you know what you are saying? Custodian fee for 6m shouldn't be more than 5k.

Grupo:
Are you sure you know what you are saying? Custodian fee for 6m shouldn't be more than 5k.

Curvinus:
I'm very sure of this. The guy showed me the bid on their screen and I saw N18k, and there were other charges well but much lower than this. I told him to cancel the bid and he did and tore the paper.

Curvinus:
I'm very sure of this. The guy showed me the bid on their screen and I saw N18k, and there were other charges as well but they were not part of the 18k. I told him to cancel the bid which he did and tore the paper.

Ibrahim505:
These charges will be indicated on the Treasury Bill certificate.

Commission: 0.125%

Custody Fee: 0.10% per transaction (per investment)

Transaction Fee: N100.00 per transaction (per investment)

VAT: 5% VAT on Commission, Custody Fee and Transaction Fees.

Hallenjay:
I've bid for secondary rate at stanbic bank over a week now and am still not getting d deal, everytime fail.
Now d account offr said e will come to my office tomorrow so dat I can apply against wed next week for d primary auction... Now am a first timer and isn't a big cash. . Am I expected to gve d acct offr a kind of tip, he's coming wt der banks vehicle ,he jokingly gave me a conditions on d phn chat dat he hope he'll get 20 customer at my work which I didn't gve outright ansa ,I just kept quiet. Anoda question is dat, is dat how delay e use to bid even for secondary rate. I bid for 66days since on Monday and turn turn up to d extent the primary is even by the corner

Ibrahim505:
These charges will be indicated on the Treasury Bill certificate.
Commission: 0.125%
Custody Fee: 0.10% per transaction (per investment)
Transaction Fee: N100.00 per transaction (per investment)
VAT: 5% VAT on Commission, Custody Fee and Transaction Fees.

Hallenjay:
I've bid for secondary rate at stanbic bank over a week now and am still not getting d deal, everytime fail.
Now d account offr said e will come to my office tomorrow so dat I can apply against wed next week for d primary auction... Now am a first timer and isn't a big cash. . Am I expected to gve d acct offr a kind of tip, he's coming wt der banks vehicle ,he jokingly gave me a conditions on d phn chat dat he hope he'll get 20 customer at my work which I didn't gve outright ansa ,I just kept quiet. Anoda question is dat, is dat how delay e use to bid even for secondary rate. I bid for 66days since on Monday and turn turn up to d extent the primary is even by the corner

C505:
Morning house.
Please can anyone kindly help my kid brother calculate how much he'll get as he decides to invest his yearly contribution of 460'900 in tbills. He said he'll do this for 15yrs meaning by 15th yr, his face value would be 6'913'500

In all sincerity, I would have done the maths but everything in my head seems to be black this morning. Something is really bothering me ATM

C505:
Morning house.
Please can anyone kindly help my kid brother calculate how much he'll get as he decides to invest his yearly contribution of 460'900 in tbills. He said he'll do this for 15yrs meaning by 15th yr, his face value would be 6'913'500

In all sincerity, I would have done the maths but everything in my head seems to be black this morning. Something is really bothering me ATM

cooldudeng:
You are definitely not doing something right or your account office is being funny. I won't even call the secondary market 'bidding' as it's more of purchasing what is available on ground. I've bought through the secondary market several times (all Stanbic ) and I'm always debited within a space of 4- 5 hours max (same day).

Please ignore your account officer and walk into any Stanbic bank within the hours of 10am - 1pm (that's when secondary market rates are available) and ask for their secondary market rates. Once you have been advised of the rate, simply tell the same officer that you want to buy any of the rate and tenor given. You would be given a form and once that is duly executed, your transaction would be treated. Wait another 4 - 5 hours basically before the end of day and you will be debited. I still did one this week

Your account officer needs your money in his/her current account so that his/her portfolio can look good

Please note that I'm not a staff of Stanbic IBTC and this is no way trying to sell them. Just an 'informed' T-bills investor

C505:
Morning house.
Please can anyone kindly help my kid brother calculate how much he'll get as he decides to invest his yearly contribution of 460'900 in tbills. He said he'll do this for 15yrs meaning by 15th yr, his face value would be 6'913'500

In all sincerity, I would have done the maths but everything in my head seems to be black this morning. Something is really bothering me ATM

cooldudeng:
You are definitely not doing something right or your account office is being funny. I won't even call the secondary market 'bidding' as it's more of purchasing what is available on ground. I've bought through the secondary market several times (all Stanbic ) and I'm always debited within a space of 4- 5 hours max (same day).

Please ignore your account officer and walk into any Stanbic bank within the hours of 10am - 1pm (that's when secondary market rates are available) and ask for their secondary market rates. Once you have been advised of the rate, simply tell the same officer that you want to buy any of the rate and tenor given. You would be given a form and once that is duly executed, your transaction would be treated. Wait another 4 - 5 hours basically before the end of day and you will be debited. I still did one this week

Your account officer needs your money in his/her current account so that his/her portfolio can look good

Please note that I'm not a staff of Stanbic IBTC and this is no way trying to sell them. Just an 'informed' T-bills investor

Hallenjay:
I think, I'll report him to the hq ,over a week now and de want me to wait for next week to purchase primary again. I'll do right away... Kindly suggest a beta branch ds my artillery port harcourt branch is very bad.

Vera2cc:
Hi, I was at the same branch on Tuesday. Just tell the customer service officer to give you the rates and form for secondary market tb. You fill and submit immediately and get debited within 2-3 hours. You can ask to see the manager if you have any issues but I have never had. Time is
usually from 10am- 1pm

Ibrahim505:
These charges will be indicated on the Treasury Bill certificate.

Commission: 0.125%

Custody Fee: 0.10% per transaction (per investment)

Transaction Fee: N100.00 per transaction (per investment)

VAT: 5% VAT on Commission, Custody Fee and Transaction Fees.

Hallenjay:
I've tried ds and they r just pushing me from one person to anoda.. Even to the teller, I was der as early as 9:40 got angry and left around 12:30 on Monday... Abi d cash no try 500k oooooo

SteveOfu:
So, say am investing 100k
Commission: 0.125%=12,500

Custody Fee: 0.10% per transaction (per investment)=10,000

Transaction Fee: N100.00 per transaction (per investment)=100

VAT= 630
Total=N23,230
What do I stand to gain then?

ibechris:
My brother that ur banker knows nothing about tbill...he or she is a joker. Even union bank that i went to didn't stress me a bit. Pls,never u do any transaction outside the bank. U might be signing ur money out. There are many yahoo bankers charming people here and there. If u must purchase tbill,pls make sure everything is done in their office.

vacanci:
U need to go back to school first and gain the knowledge of understanding percentage calculation.

0.125% is not same thing as 12.5%
0.10% is not same thing as 10%

SteveOfu:
So, say am investing 100k
Commission: 0.125%=12,500

Custody Fee: 0.10% per transaction (per investment)=10,000

Transaction Fee: N100.00 per transaction (per investment)=100

VAT= 630
Total=N23,230
What do I stand to gain then?

Hallenjay:
I've tried ds and they r just pushing me from one person to anoda.. Even to the teller, I was der as early as 9:40 got angry and left around 12:30 on Monday... Abi d cash no try 500k oooooo