₦airaland Forum

Mascotlawman:
I was given 15% this morning in first bank for 359 days. hope it's a good deal this time?

Me thinks it's not good enough.
Between 15.8 & 16 would have been better by my thinking

dotcomnamename:
Don't tell me you're in the league of what i am thinking.

I beg o. I no wan talk o. But I still dey laugh

I am still laughing o dotcomnamename.

;

dotcomnamename:
Go to your bank and tell them you want to invest in Treasury Bills.

;

Once "bitten" twice shy?

Deckline:
Waste data? How much data would you waste? I don't call it waste,its "Surety" am just trynna help bro. You've been admitted and i've not. Yet,i still check and pass across infos i got on a trusted net and still you accuse me of passing fake infos. Have you checked? Yes or No

Even if it's 10kobo, as long as the news is false, it's both wasted money and time.

I checked and confirmed that it was not true before posting here that it's false.

You have now seen that your "trusted net" should not be trusted.

When you posted it, I asked if you were sure of your source and you simply told me that there's no harm in checking". So if after checking and found out it was fake, you expect me to applaud you? I won't do that my dear.

If you had posted that "unconfirmed source say that you can now check for your admitted courses as a new I'D and password has been created" that would have been a different ball game. But you posted it authoritatively as if you were sure

I still wish you well and pray that you also get admitted by God's grace.

Deckline:
Am certain based on netsob news. There's no harm in checking. Hello?

I honestly thought the era of posting unverified news on this forum is over.

It's a false news pls and people should just not waste their data and precious time to check.

How sure are you?
Let's see screen shots if true

*_Admission / CAPS Updates as they roll in...​​_*

Following our recent publication which bothered on Ambrose Alli University Admission Updates and the Jamb newly introduced Central Admission Processing System (CAPS) wherein we tried to be as detailed as possible, some students complained of not being cleared with the explanations while some were.

After taking alot of questions from aspirants on the CAPS method of operation and regarding the next step to take, it became imperative to put up a more detailed update.

TeamUATRI received reports that Jamb within 24hrs had the status of all students in AAU who accepted set back to default (Reset) and went further to disable the aspirant profile page where the button to ACCEPT was.

*Aspirants should note that CAPS is the least of their problems right now as your institution (AAU) are solely incharge of your admission.*

Below are some frequently asked questions and detailed answers:

Question 1:
What is CAPS all about?

Answer:
*CAPS which stands for Central Admission Processing System is like a market place where students are showcased to different institutions for admission consideration using their O'Level result and Jamb score as a criteria.*

Question 2:
I have been offered Admission in AAU but Jamb portal / CAPS is displaying either _not admitted, Proposed or Recommended_ what do I do, do I accept ?

Answer :
*This is because as of now, Jamb haven't uploaded the first batch of admission list by AAU, when they do, there will be two links on the CAPS portal, one to ACCEPT and the other to DECLINE. The information about CAPS came to early, So if AAU have given you admission, note that you have nothing to worry about and CAPS should be the least of your problems now. Moreover you can't even accept again now till Jamb uploads first batch of AAU admission list.*

Question 3:
What am I expected to do at this point?

Answer
*For those that have been given admission, You are expected to be calm, Wait for the management to assign a student ID and password to you. Keep checking the AAU admission portal by clicking this :*
https://aaue.waeup.org/applicants/checkstatus

*Input your Jamb reg no, then enter your surname on the second box and submit... It will display a congratulatory message and if a student ID has been assigned, this message will follow _"A new student ID and Password has been assigned to you. You can now login with username (E10.....) And password (will be there)_ After which you can then login, check your COURSE and proceed to Clearance....*

Question 4:
What about we that already accepted on the CAPS portal.

Answer:
*You will need to accept when AAU sends Jamb their list because the one you accepted before didn't count... But for now you have nothing to worry about because AAU have given you admission. Moreover, Jamb has reset back the profiles of all AAU ASPIRANTS that ACCEPTED... And Like I said in the beginning of this update, CAPS should be the least of your problem right now, your focus should be AAU not CAPS which is only a market place.*

Note that the CAPS policy gives every aspirant who met the Jamb CUT off mark of 160 a chance to be requested for admission by three institutions they meet their cut off mark and when you accept an admission on the portal, your name is immediately taken off the market place. We will give you more insight when we get to this point.

*​Whatsapp:* *+2348068971457 or +2348072457278 for assistance and all enquiries*

Sir'Aliu reporting...
+2348068971457
*​#Share​*

emmanuelewumi:
I



Oga you really have time to explain. Me no time for long story or elaborate explanation.

The summary is that the guy will lose money from that transaction.

Thanks.
I deliberately took the pain to elaborate cause I want him to fully understand and see what we are telling him.

Sometimes I have that time

emmanuelewumi:
I



Oga you really have time to explain. Me no time for long story or elaborate explanation.

The summary is that the guy will lose money from that transaction.

PERIOD!!!

freeman67:
If I read the initial complain that brought about this explanation very well. I saw where the writer said the interest paid is still in his account... If the principal is returned to his account after the deduction of what was initially paid to him, he will have his principal intact.

It all depend on the angle anybody look at from anyways... Some of us invest with interest sometimes so we are fully aware that the interest paid upfront is not completely your until your investment matures... Without dubious mind anyone should know that incalling for termination of investment before maturity the days remaining will have to be considered.

The interest earned so far in that transaction is for 6 or 7 days as the case maybe.. The deductions will be based on that. If it is sold @ that same rate he got the day he requested, all he has to do is to just add whatever comes to his account with the initial interest he got. I believe with that he will loose nothing.

He can only loose if it sold or bought higher than what he got it initially.

It appears you still haven't understood what myself and few others on this forum have been explaining.

Let's assume that the N68,000 upfront paid to him is still intact in his account.

1.For defaulting, Union bank will debit his account with 25% of N68,000 = N17,000.

2.for collecting (in his account) N68,000 for an investment of 170-day tenor instead of N2,400 for 6days (because he is terminating after 6days), Union bank will equally remove N65,600(excess interest paid to his account) also from his account.

3.Assuming the investment is sold at same rate, and that other sundry deductions like tax, C.O.T, commissions, etc amount to N10,000 (may be less).

Total deductions will be N17,000 + N65,600 + N10,000 = N92,000.

4.So What he will get at the end of the day is {N980,000 which is amount invested + N68,000 upfront interest} - (N65,600 which is excess up front interest resulting from his termination after 6days - N17,000 which is penalty for terminating the investment - N10,000 which is the assumed sundry charges which could be less) =

{N980,000 +N68,000} - (N65,600 - N17,000 - N10,000)
=
N1,048,000 - N92,600 = N955,400

There his loss would be N980000 - N955,400 = N24,600.

But if the sundry charges is less, his loss will equally be reduced by the difference, but there is no way he would not lose even if he is paying N0.00 as sundry charges.

If after this very detailed explanation, you're still not convinced, then let's just await a feedback from the concerned person to prove either of us right.

freeman67:
If I read the initial complain that brought about this explanation very well. I saw where the writer said the interest paid is still in his account... If the principal is returned to his account after the deduction of what was initially paid to him, he will have his principal intact.

It all depend on the angle anybody look at from anyways... Some of us invest with interest sometimes so we are fully aware that the interest paid upfront is not completely your until your investment matures... Without dubious mind anyone should know that incalling for termination of investment before maturity the days remaining will have to be considered.

The interest earned so far in that transaction is for 6 or 7 days as the case maybe.. The deductions will be based on that. If it is sold @ that same rate he got the day he requested, all he has to do is to just add whatever comes to his account with the initial interest he got. I believe with that he will loose nothing.

He can only loose if it sold or bought higher than what he got it initially.

It appears you still haven't understood what myself and few others on this forum have been explaining.

RealityShot:
i think so Sir..

it is clearly written that if he breaks his commitment in less than the stated time,

he will loose 25% of the interest he has earned so far..

so now that he has earned for only 7days out of 176days for which he got 68,000..
his total earnings is actually 2,704

therefore he will loose only 676 from the interest earned.


add the tax and its 929 only still gives a net profit of 1774

his capital WILL NOT BE TOUCHED..
therefore, NO LOSS.

PURE LIE!!! his capital will be depleted because he MUST pay back the undeserved interest he earned for the 163days he did not invest.

A trial by him will convince you. I only hope he comes back here to give testimony

emmanuelewumi:
He can't have small change, the interest he would have earned for the 6 days can never be up to 15k. The bank will prorate and debit whatever he earned based on the fact that they believed the investment will run till maturity from what they will pay him.

If not anybody will invest a million for 364 days at 16%. Earning 160k and then terminate after 6 days and lose just 40k which happens to be the 25% of the upfront interest.

GOD BLESS YOU.
Maybe they think government and bank are stupid

RealityShot:
65,681.81 from where?

he got 68,000 interest..
they say 25% FLAT CHARGE on INTEREST EARNED.

No LOSS here.

Who says?

The 25% flat rate charge is PENALTY for terminating it at all.
He was paid N68,000 upfront believing that he would not terminate it till maturity but after 6 days, he terminated it. He MUST also refund the excess up front he collected which when pro rated gives (N68000/170days) × (170-6)days which gives the N65,681.81.
If you were you to be correct that "NO LOSS HERE" Then I can always buy NTB of 364-day tenure today and opt out the second day and run away with whole of the up front interest meant for 364days and pay back only 25% of the up front meant for 364days so that at the end of the day, I make huge profit for terminating a 364-day NTB after investing for just 1day

My friend that's very impossible but if you are still in doubt, pls consult financial experts and you will come back to thank me.
The banks and government are not stupid.

remi1444:
mine is proposed.

When you see "Proposed" scroll down and cliclick on "acept" and after a while the "proposed" would change to "Accepted"
That's how to go about it as long as you see "proposed" and that was how I did mine yesterday

realjidejamal:
I understand you bro. You are right about that though but it wasn't planned. This is my 3rd investment with Union Bank. I did 750k in match this year for 183days and it matured October 6th so I added more funds to it and reinvest it for 176days incase i am in need of cast early next year while I still have 306days and 333days with them that's will mature by July and August respectively. I still have the 50k out of the interest paid into my account last week. This need is just Emmergency and it's whole lot that's why I'm consideriig terminating. You have a valid point and I was thinking about it before I invest but I never knew this will happen in just 6days of investing. It's so sad and I'm mad at myself as we speak. I went to the bank today and the guy was surprised and said what you just did last week, but wetin I go do now. He told me to come early tomorrow morning. They deducted #253 for the withholding tax. What do you think the condition is saying pertaining to what I stand to loose?

And also why I chose Union Bank was mainly because I have been banking with them for years and this is also not my first tb. I have been trying to get a valid Id to get open an account with Stanbic and First, I got my temporary driver license just last week and I was at stanbic on Tuesday to open a new one after none of my Id is working, but they guy told me they can't and if they used it to open an account for me the limit will be 100k and I told him I'm opening this account mainly because of tb so he urge me to go and get international passport which I know will cost me another 20k after spending 18k on a new driver license. So I decided to settle for my bank since the rate is still reasonable a lil. That's my story oo. I will go tomorrow sha cos I went there late today.

Sorry to bore you with my long epistle it's just crazy

I really understand your plight.
I have responded that what is written in the agreement is that you will lose 25% of the interest you already collected which is 25% of the N68,000 that was paid to you upfront. i.e only N17,000.

You will also have to pay back the interest you earned for the 176-6days which you were paid believing that you won't terminate it until maturity and that is: N68,000×170/176 = N65,681.81

Apart from that, they will also deduct little sundry charges which I think won't be up to N10,000

Balance that will be paid to you out of your N980,000 = N{980,000- 17,000-65,681.81-(let's say 10,000)-253 (withholding tax} = about N887,065.

You are therefore likely to lose about N92,253 or there about for terminating it after 6days.

BUT your net loss is actually N92,253 - N68,000(which was paid to you upfront)= N24,253

dotcomnamename:
In that case if that is what the bank told you, then 25% of N68,000 is N17,000. Which means if you terminate your investment before maturity date you will only earn N17,000 as profit excluding your capital. I stand to be corrected by other TB gurus! All the best!

No no no sir.
I beg to disagree with you.
According to the agreement he had with Union bank, he will LOSE 25%(N17,000) and not earn only (N17,000)25% apart from other little sundry charges as penalty.
He will also be debited for the excess interest he was paid up front which amounts to about N65,681.

dotcomnamename:
I am sure you can read very well. How is my response commensurate with discourage? Read this thread properly, is that simple to do? This question has been answered many times and i personally answered this same question of yours recently on this same thread and infarct it is still on a page before this current page as per the difference between Primary and Secondary market in my answer to tmod here https://www.nairaland.com/878880/treasury-bills-nigeria/421 . Had it been you read careful you wouldn't ask the same question and still have the gut to lay unnecessary false accusation of discouraging others. You like wahala sha!

It's because people respond to their over repeated questions that's why they keep asking over and over again

They are simply very lazy and want to be spoon fed. I won't be suprised if someone else ask same question next page.

I have learnt to ignore such very lazy people after being insulted

dotcomnamename:
Are you sure with your claim because I am just considering trying GTBank Treasury Bills!

A trial will either convince or confuse you!!!

Cms38:
Guys I'm looking for a nice lodge that's near to school...single room(good one)..pls if you have any info on that pls...p.m me.........lets talk.....

Why are you not interested in the University hostel on campus?

Has anyone gotten the new username and password?

Below is forwarded as received but with non important adverts edited

*AAU ONLINE NEWS>>>*

*Congratulations to all those given admission on the just release AAU first batch admission list.*

*For those not yet given, just relax there is still other lists to be release, so your own time will come.*

*For those admitted, later today just log in your kofa you will be given a new username and password, so you know the course you were given. The new Username & Password, which will be given to you will hence forth be your Student ID through out your stay in AAU.*

*Online Clearance begin immediately you get your new username and password.*

*Documents needed for your online clearance are:*

*Passport*
*Birthday certificate or (Affidavit)*
*LGA of origin or (Affidavit)*
*Waec or Neco result*
*Jamb original result*
*Admission letter*
*Acceptance letter*
*Guarantor letter*
*Affidavit of Good conduct (to be downloaded on aau website)*

Cms38:
If that's so..meaning I've been offered nursing science and kenerd med&surg....what about Tony and Remi

English

Kenerd:
na so oh.... but I think we got it.

Yes I think we got what we bagained for. In fact, my reliable source said all those offered admission through merit list got what they applied for.

It's only in 2nd or 3rd batch that people MAY not get their choice. So the celebrations at home can start as long as we are not celebrating on campus

fulanibuoy:
LOL... Nice observation... and congratulations

Now that the admission list is out, we shall be seeing a lot of the ghosts posting

Deckline:
Tony,what about you? Have you been admitted?

Yes I have been admitted

Kenerd:
it's not showing the course like last year

Oh yes, the course is not there but since it's the merit list, be sure it's the course you applied for and nothing less.
Congratulations!!!

I am reliably informed too that it's only those admitted through Merit list that would see anything on their Kofa accounts.

If yours is not there, don't lose hope yet cause other lists will come probably for Catchment and so on

HURRAY!!!
FINALLY, THE ADMISSION LIST IS OUT.
CHECK YOUR KOFA ACCOUNTS AND YOU WILL FIND IT THERE

dupelomo777:
its obvious u dont have manners if not u wont insult someone just like dat.its inhuman i only wrote it for people interested and for your info, i am also a participant and a winnner

Is this thread the forum for what you posted?
Why don't you go to financial thread instead of coming here to post unrelated things here or better still start your own thread.

If you don't know, this thread is for AAU aspirants and your type of post is not welcome here. We don't welcome gamblers here

I am reliably informed that the management of Ambrose Alli University is working very hard to be able to release the Admission list on or before the month ends on Tuesday 31st October 2017.

I pray they be able to do so.