₦airaland Forum

Good for him

But these days even scammers give all thanks to God.
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Daalu nu!

Her business.

Nothing lasts forever

She used to be the hottest in nollywood

Good old days!

Kemi should rest

Seems to have been done by a system.

Same ppl

Shaking my head.

Buhari even did better in the first.

Are you sure this guy isn't working for the pdp?

Why is he disgracing buhari naa

See below

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Daalu nu!

So hilarious.

Okay.
We have heard

18 jack chan gold

Nansense

Waiting fir the all is vanity crew!

Sammybabelious:
You are Right. Because it actually 1.159M not 1.59M,, n I was told I will be given 1.148M.

BACKGROUND FACTS
Bank invested 1159000 at 9.85% for 91 days for him.

He tried to liquidate after 1 day and bank said he would lose 11k.

SO HOW DID THE BANK ARRIVE AT THE 11K?

.

Oma255:
The 11k charges is the addiction of 25% penalty of primature termination on interest and other small charges of vat and commission fee.
Yes you were charged from your principal because you didn’t have any any interest except for one day which is about 430 naira.

If you had waited till maturity, your interest would have been about 39k, so 25% is like 9,700 + other small charges = 11k

NOBODY IS SURE OF THE 25% ish.

He later said he invested 1,159,000 NOT 1,590,000. at 9.85% for 91 days.

So even with the 25% penalty, custody fee (0.35% max) and processing ( usually 100 naira); IT CANNOT amount to 11k.

Note: No vat is charged on tbills upfront interest.


All are mere conjectures.

I am sure of Access though. I asked several workers but they had no idea. I had to liquidate as a form of experiment after I mailed the head office and got a clueless response.

Cc
Comparedbest

Btw, I like your diction sir . Stellar

Pidginwhisper:
Do you also buy Bonus? I have 32k worth of airtime bonus from Glo.

lol

washingtonklef:
your etisalat 1gig is how much via recharge card?

800

Chat us and say you were the one that inquired on nairaland, you will get a waiver.

Elliot2:
Go to any pharmacy, they know it. D combination of d bitter leaf water n d capsules is very effective for stomach ulcer. #for advice purpose o.

So one goes to pharmacypharmacy and says:
.Sir, I need yellow capsule?"

Nawao

These gals sef.

Just to dey snap pics dey post for gram

Some of these start ups are just busy chasing shadows.

They keep signing celebs with no clue how it will benefit them.

Same with payporte. They have little sales yet keep sponsoring bbn with loans but can't pay salaries.

Tstv same hype.

After a few years, they have gone under.

Naija sef.


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Naughtysite:
And Alex rejected a Range Rover.

Now we know how female Nigerian celebrities get their money.

Case closed.

Did you believe that rubbish?

This woman like attention like kilode.

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Daalu nu!

Not bad you know.

Eroms4life17:
If nor be low self esteem dey worry some guys. Why will any sane guy go for a public toilet called prostitute when babes full everywhere.

Story.

Many girls are into runs yet speak in tongues in churches.

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Daalu nu!

Davido just brought this girl to limelight.

That's all she wanted before.

Rubbish

So ppl normally train naked? Its a skit

CompareDBest:
"Some people" are correct. There is NO cap to your loss. With the extreme example you gave, you can lose a good % of your capital. Let's do some simple math without taken charges into consideration:

capital - N100k
tenure - 364 days
discounting - 10%pa
rediscounting - 18%pa

You get N10k upfront, N90k deducted. N100k to be credited on 364th day
Day 100, pre-liquidation - some banks (not sure if all) tell you the rediscounting rate so you can reconsider or accept & write formal instruction
The instruction needed to terminate your investment would be N100k @ 18% for 264 days. Your capital and upfront interest needs to fund all of it. That is give N(100*18/100*264/365)= approx. N13k upfront interest to the secondary market buyer.
So you get N110k - N13k = N97k. But, we did not consider charges, so you actually get less

This is why if you scour through this thread, you will tire before you find any of those stalwarts of investment you asked this question saying they pulled their funds halfway. It is an unwritten rule. Understandably, it is only broken as a last resort.

However, the opposite situation can also arise, and some investors use these as opportunities. Imagine you had 1bn and rates fell by 2% in a week; in 7days you could earn 2% of 1bn by rediscounting in the secondary market, give or take some charges.

Thanks for the analysis sir.
Your analysis appears to be the case ordinarily.

I am inclined, however, to believe that this may be merely theoretical or conjectures. I have yet to see anyone whose liquidation before maturity panned out the way analysed above.

My experience with Access was different from analysis above.
Other banks may differ..

At any rate, the uncertainty surrounding the outcome liquidation before maturity may be because of crass ignorance of bankers who give incorrect info. And also because of investors who have never tried liquidating and just rely on same incorrect info and pass it as correct.


Experience is the best teacher here I guess.

I hate white skin.
Chai!

Dark is bae!

Chai

See money.

If i buy ordinary itel phone i go hang my hand and i go dey look for my landlord make i slap am.

Poverty issa bastard

EFCC GHANA loading...

epatant:
You can get Gionee M6.mini 27k

Is gionee still producing phones?

Bad reporting

Wicked world mehn!

This will trend like crazy.
Life is hard mehn!

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Daalu nu!