₦airaland Forum

Fynebouy:
Thank you very much. Actually they did not provide the proof of investment hence the confusion. She will ask for it.

Another question please: is there 30 days TB?

Fynebouy:
Hello please can anyone help me. My partner invested in TB through firstbank. Asked that the interest be paid upfront and reinvested. The receipt from FBN states only the original sum and nothing abour the interest or its reinvestment. She has been trying to get information on this interest but nothing is yielding. How should she address this with the bank?

Grateful for someone to provide clarity
please

digitalinvestor:
Hello Nairalander,

Has anyone invested with DLM Capital Group Limited before, and what was the experience?

DLM group is in the market to raise ₦5 Billion Series 1 (Tranche A and Tranche B) Commercial Papers (CP) Notes under its ₦20 Billion CP Issuance Programme.
180 days discount rate of 24.6028% yields 28%, and 270 days discount rate of 25.2173% yields 31%

The Group is rated ‘A1’ (Short-Term) by DataPro, and ‘A3’ (Short-Term) by GCR Ratings

Bennycollins:
Hi esteemed forumites.
I need help from those that know.
Zenith bank subscribed me for 340+ days Tbills at the rate of about 19+ % . I had chosen 22% rate in the form with instructions that any thing less should not be accepted to me, but the did everything without consulting me.
So I applied that the investment be cancelled.and the have kept back 309k as penalty, according to the Operations Head. Principal amount was 10m and 1703000 had been credited as upfront.
How do I handle this, as 300k is too much for me to lose like that.
Thanks

jabolo:
Thanks for this useful feedback. Could you please share when the Afrinvest intervention took place as I would like to take it up with them.

They were original bookrunners on the bond and, as I recall, one of the security instruments with this bond was a legally constituted charge on accounts related to the Ondo state allocations from the FGN, and was blessed by the State legislature. Don't want to be flippant but it shouldn't matter whether the Governor died or lived on. So the bond was not really unsecured.

If this arrangement failed then it has implications for similar arrangements elsewhere and must be publicized widely.


On this particular bond, yes it is unsecured, but you rely on the Aa rating from Agusto in making the investment decision.

emmasoft:
@Gadgetking this is an issue of funds identification, most likely your e-account number was not captured.
To resolve this, send your evidence of payment to customer care, you can also follow up with a call. Going forward any deposit you make and it goes beyond 24hrs to reflect in your account, and it's not weekend, kindly send evidence of payment.

Happy new year bro,

I did 1m to coronation yesterday but yet to reflect on app.

For me, I don't use third party when it comes to mutual funds since I can open account directly with the fund manager.
Please I'm not saying Cowrywise is not legit.

Thank you.

keeper303:
Please share your experience so that others can learn lessons from you.

vanvickie:
Hi, Which bank or app offered you this rate pls?

Bakosokoto:
You might want to look @ Presco PLC 7yrs Bond on offer now

Akerewe:
Fgn bond or Tbills?

Primary or secondary market?

I thought the last Tbills I saw was 29% what happened nd what's the current Tbills tmrate?

Akerewe:
Good, new year don set b that!

keeper303:
Send tithe to me

Akerewe:
On 24th December 2024, all the same, it has dropped

Chuksteve:
Hello guys. Please does anyone know how safe or secure Saro Lifecare Commercial Paper is?

SouthAmericalif:
will i still get the same percentage as per the government.

tabithababy:
. Good afternoon, please how do I buy this bond you people are talking about

Akerewe:
Make una relax, he go sup

Akerewe:
On 24th December 2024, all the same, it has dropped

Akerewe:
Yes it came in yesterday night

ernie4life:
If you tell your financial house am sure they will provide you with more information and can help you buy it.

ernie4life:
Hope the house is aware that VFD group Plc Commercial Paper closes tomorrow with a yield of 30%, heard its net of tax(confirm from your investment house)?

Timmi:
Yes, it is trend in December, too many $ inflows hence it’s a classic demand and supply at play. Hold on to your $ until mid to late January

jedisco:
The time has come to tread carefully on this.

There has been some macro changes I'd list below.

1. The naira has been free floated with significant less room to roundtrip. This way the effect of market forces would be more evident

2. Dangote refinery. Imported pretroleum products was our biggest need for forex and the last govt awarding him cheap usd helped get us in this state. However, the refinery is finally up and running and sourcing most crude locally plus then exporting finished products is a game changer. Of couse he has usd loans which he would pay back but these should be more favourable than importation.

3. Ending petrol subsidy- This has brought significant hardship but at same time dampened local petrol usage and smuggling. The previous method gave room to corruption and the govt spent huge amts of forex to forestall this. Worth noting that reduced energy is generally not good for growth.

4. Due to inflation, collapsed naira and all three above, the buying power of the populace has sadly reduced with many manufacturers looking for local alternatives where they can. i.e less appetite for imported goods.

5. Diasporean inflows- A major forex generator for the nation which the CBN has recently successfully been able to streamline. I know this as a few years ago, those looking to send in money would be advertising and exchanging details on WhatsApp or doing so via crypt0 channels due to high fees from the likes of Western Union or the govt insisting only usd can be received locally or the failed Naira4Dollar scheme. Now, there are very good apps which are licenced almost immediate. I believe the forex eventually streams to the govt coffers.

I believe the next major hurdle is fighting inflation tied in with reckless money printing. The CBN seems to be actively looking to address this. It remains to be seen the effect of the new minimum wage.

I was in Nigeria recently and surprised how 'relatively cheap' items have become due to the currency collapse. I think we are at or close to the bottom of this nightmare and soon at a stage where local investments may begin to yeild real returns. I am not rushing in but biding my time. The next 6-12 months should be crucial. If the Naira can keep ranging (1500 -1900) and resists further devaluation, market confidence should gradually return. I'm not looking to catch the bottom but would be keen to step in once things are heading upward

P.S as you may know, I have longed preached folks should defend their buying power and was at the forefront of warning folks to hedge their naira holdings against devluation over the last few years. Even beofre the current govt when I was quite sure the local stock market was due a rally and stated that here, I opted not to invest as I felt estimated returns in Naira might not beat corresponding investments in usd which has proven been the case. Its still worth being hedged so you don't get swept off your feet by a rubbish govt policy but to me, times has come to start paying attention.