₦airaland Forum

Lexusgs430:
I was almost packing the phone into a cupboard and fully switching to my Umidigi One Max...........

Yeah right...you go fit? You that you love your note like like crazy

Lexusgs430:
Apps are individualistic, what i love, you might just like or hate......

Sure one man's meat is another's poison however, that does not negate the power of sharing...you might actually have something someone is looking for but didn't know was available or someone might find something awesome in your collection

looking for apps suggestion to maximise the use of the Note 9...tired of the regulars

anyone?

exclusiveoloori:
Pls house, what is the lowest number of days that I can get from t-bills secondary market

Theoretically, the lowest number of days should be one day but the yield for that will be quite small it might not be worth it unless you're buying hundreds of millions worth

how are you enjoying your new update?

How much did you say that GTB is owing Innoson again?

Eight ( billion naira. Good.

According to Guaranty Trust Bank (GTB), Quarter 3 (Unaudited Report), October 2018...

Balance Sheet
Total assets ₦ 3.433 Trillion.
Shareholders’ Funds ₦ 534.3 Billion.

Other Summaries
Gross earnings ₦ 337.3 Billion.
Profit before tax ₦ 164.2 Billion.
Customers’ deposit ₦ 2.239 Trillion.

And, you said Innoson is taking over 3.433 trillion naira because of 8 billion naira?

This is exactly the reason why some people had salt bath in 2014 because of EBOLA.

Even God wont bother to help some really stupid people in this Nigeria!

oh nice....i use glo and have the unlocked N.A Note 9 model

Which network are you on? i understand the call recording feature is supposed to be carrier dependent but i doubt if nigerian networks know enough to put such restrictions on phones!!!!

Hi guys,

There's supposed to be a call recording feature built into the Samsung Notes but it's not available on my device . Anyone here seeing that option?

ollah2:
I had to load German rom when UK rom was moving on snail speed. Btw folks I joined the family of the smartwatch, oya make una bring inputs on how to love-vendor my galaxy watch oo.

don't forget to setup your Samsung Health App on your phone and start monitoring your vitals!!!! set up the 'together' section to get in on global health and fitness groove

ClitRaider:
Thanks brothers.
I just left Diamond Bank, the available tenor for TBills starts from 61 days @8.2%. Meanwhile the bank officer advised me to go for FD for 30 days @ 9%.

I think the latter is better tho.

since you're constrained by your 30day investment window, the FD is probably your best option. if you have another bank apart from Diamond bank, you can try to get another opinion on what rate you can get for the FD noting that in all cases, there's a 10% WHT that will be applied to your interest as previously mentioned to you by another post

Speaking of Diamond bank, hope you know that the bank is now officially Access bank and your account will be converted to an access bank account. I suggest you walk into Access bank and ask them what they have on offer for T-bills and FD just to know what other possibilities are available to you

bon chance

@grupo, i take it you're one of them?

ClitRaider:
Hi, kindly help a brother.I have a loose 1m, can I do 30 days tenor?
Somebody pls write back.
thanks.

With 1m, you can only buy tbills at the secondary market. You have to ask your financial services provider the maturity dates that are available. I know there's a set maturing on April 4th. Buyers don't determine the maturity date of tbills so if your window is 30days you might not find something that fits exactly

But if you're flexible, I'm sure they can find something for you

Even the international model is still tied to a country so if you buy from a country that doesn't get update early, that won't help with your need for early update. lol

You know you can.load the US update for your note 8 right? You dont have to keep waiting

GonFreecss1:
But bro...

They do have a point about what happens if the app shuts down. There should be something or certificates that should make people get their money + interests back.

An app is only as useful as the people on the back end. What happens when the back end people leave?

Which is why I said to visit the app store and call the developer to ask all these questions!!!!!!

The app is available on both android and apple store with the email and phone number of the developers. Call them up and ask them these questions. Ask them where they are physically located and if you can, visit their office to establish they're real people. If you want a paper mailed to you to back up your tbill purchase, ask them if that option exists and if they say no, ask them why not

My point is people should not bad mouth something they know nothing about

When Skye bank went under, did the customers who had money in the bank not see their balances up to date the day before?

The app is just an interface to resell tbills bought through sterling bank to customers without those customers having to open an account with sterling bank

Sterling bank is not one of the top tier banks and people like you don't bank with them. They came across this Nigerian developers who built an app to resell something they have which gives them a reach beyond anything their advert can get them and they latched on to it

This app was developed by Nigerians and you're all here bashing the app without making an effort to investigate it and find out what it does. If it was a foreign app or website like MMM, you'll all be falling over yourselves to put your money in it but because it was developed by Nigerians, you can come up with a thousand and one reasons to pull it down

freeman67:
I understand your position quite well, we are all here to increase our investment and it's knowledge. Yes, while its true that we should not just condemn the the technology.. which is the app. It is also important that we allow people freedom to ask questions and clear grey areas... Who is the custodian of I-invest because as far as I am concerned there are a separate entity investing money on people's behalf.. If the ap6p stop working where should the people run to?

Why don't you go to your app store and look up the app? The developers have their contact details there and in the app...if you contact them and they're unable to give you cogent answers to your questions, then make a decision

Don't trash something you have not made an attempt to understand

OgogoroFreak:
Now I know you don't really know what an app is.

Actually you're the one who doesn't know what an app is

freeman67:
Good question..! I was using GT app before then my phone was stolen. I got a new phone and installed the same app but as I tried to setup I experienced some issue.. And could not set it up even when I went to their closest branch to me for assistance. At the end I had to download another of their GTworld which is what I use now. Thank God I already changed my password through my Internet banking so even if they guy who stole the phone attempted something through the app it wouldn't have worked. It was this app we are discussing now, how would I access my money...

Just so you know...because it sounds to me like you have not used the app....just like your gtworld app, if you loose your phone...no one has access to your iinvest app because it is also password protected

And the same steps you highlighted for recovering your gtworld app is the same for this app

OgogoroFreak:
How many websites have you used that suddenly stopped working? MMM comes to mind.

Why people would prefer using an app without enough office to using a bank with enough offices in every state and area baffles me.

We are talking about an app and a service not a website. I-invest resells tbills which is a legitimate security instrument and they do not offer outrageous return on investment unlike MMM

MMM was a fraud staring people in the face and the idiots who bought into it did by telling themselves they were making easy money and doubling their money

So compare apple with apple not apple with ogogoro

RealityShot:
where do people go when the app stops working? i.e: their don't return after the tbills epire?

How many apps have you used that suddenly stopped working?

GonFreecss1:
I don't know much about the I-invest app, but I came after the idea on attacking a financial services firm because they use an app.

If what you say is true and I-invest doesn't give certificates per TB you buy, so you know your custodian too and all other necessary info, then I think they are not safe. So I apologize to all those who read my former posts, I was just against the attacking an App narrative.

As for the app narrative it should be noted that even mutual funds too have a custodian. Let's all be guided. What I will not stand for is the app narrative, there are people with billions of naira in their bank accounts who use internet banking. At the end of the day, it's how a user takes care of their internet details to prevent social engineering that matters.

Thanks for this post....it is the same demarketing of an app that I was speaking against. People who have not taken time to even know what the app does or does not do passing judgement based on the bad experience of one person for an app that was developed by Nigerians and has 100s of thousands of customers if not more

There is no bank in Nigeria today that doesn't have customers who have had so many bad experiences that they have sworn they will never do business with that bank...do we all then start saying all banks are MMM?

PS: that nonsense about I-invest not giving certificate for tbills is out right crap because the app deals mainly in secondary market sales and it's all in digital form with an email acknowledging your cash deposit, tbill purchase, volume, rate and maturity dates sent to you outside the app such that even if something happens to the app you have an audit trail to follow which is the essence and MO of a digital setup

Anyone can keep their money under their bed or carry Ghana must go to their banks...to each his own

Exchanging post with you is definitely a waste of my time and even if I continue responding to your post, I doubt if you have the capacity to understand

freeman67:
Ordinarily I wouldn't have said anything more because enough has already been said even before now. Also every investment has some amount of risk. However, the way this walcom guy is coming to bulldoze people and force them to line even when people have contrary opinion with proof reminds of the days of MMM. Let us reminded that when investing in TB with any bank there is a custodian that holds your money for safety. Your fund is expected to be held by another entity. Yes it may sometimes be a subsidiary of the bank but then it operates differently with CBN guidelines. That's why you pay custodian fee for every primary market TB and I believe in secondary market the original buyer would have already paid for it. If you invest through the App money is only guaranteed for the app owner and not you. All it takes is for the app to refuse to login one day and the one location office they have will be closed that morning and you money is gone. Ordinary Customer deposits in banks are insured and banks are monitored by CBN.. That I-invest is not under the scrutiny of anybody ooo. Severally sterling bank has told those who care to listen that there are just customers/partners with I-invest and not the real owner. I am sure those banking with sterling bank will have the real sterling app if they have one.

you just posted a load of crap and I'm sure you probably think you have posted something intelligent.

I have Ignored the other dumb posts before yours just to let this lie, anyone can use any means to facilitate their investment and I could care less but I draw the Line at ignorant people like you casting aspersions at my person.

That you lack the intelligence to figure out Simple things is your problem

I use I-Invest and l have no problem with it, I have no allegiance to the developers or sterling bank and I especially don't care who uses the app or does not use it.

The person who had the issues with the app and bank had the decency to separate issues and addressed only the discussion, I dont know how come you're mourning more than the bereaved

awesomeJ:
I think enough has been said about I-Invest.

Walcom, Barrytone feels uncomfortable with how he was treated in his last dealing with them, he has the exclusive right to his appraisal of any service he receives. There's no point telling him whom to blame and whom not to.

Barrytone, Walcom thinks you shouldn't place a bad label on I-Invest as some folks like himself still enjoy their service. So please agree that he can choose to take pleasure in being served by any firm he chooses.

So, bottom line is there's enough info now on the forum about what's obtainable from banks and what's obtainable from Apps like I-Invest.

let each man choose for himself.

Ok...thanks

Barrytone:
It wasnt a glitch or hitch. The money arrives but they failed to credit my account. They must have invested my money in the wrong account because I doubt they would not have money lying down fallow for 3 weeks without investing. They didn't return the money to sender or credit my account. What was the money doing lying there. What were they thinking. Even of am not investing, the money should be on my account and not an unknown destination. I keep calling them and they keep telling me that the money didn't arrive whereas the money did arrive. Cbn modus operandi is to block the account first and verify. That was when I think their eyes open up. They now saw my money, saw my number and also saw my account number to return the money. Actually, it might be a one off situation but I don't joke with my hard earned money. I pray you allow this slip by, don't expose them further

Seems to me that you think when you transfer money to a corporate account, the cash falls on someone's laps and they hold on to the money....the only thing the company can work with is if the money that is posted to their account is properly narrated with identifying information that allows them to tie the money to a specific client. If you bank sent the money without the right narrative there's no way they can know the money is meant for your particular account.

Dont forget that multiple clients send money to their account eveyday.

Look guy, I sympathize with what happened to your transaction but my point is that you're blaming the wrong party....if a problem happens to a transfer, the problem is either caused by the customer not giving clear instructions, the senders bank not transferring with clear instructions or something going wrong with the nibss interface that makes interbank transfer happens. The recipient is the one receiving and can only work on clear instructions

You said you had other tbills maturing with I-invest, why do you think they will want to spoil their relationship with a customer like you by refusing to credit your account?

Akin3891:
Excuse me bro, you sound like a worry drowning soldier trying to console himself with positive words, don't worry ,invest still exist n ur investments is safe. Try consider investing tru physical bank next time to avoid story that touch. My 2 cent. Funny enough, i always look those banker eyes weller n always try to choose the nice one that i can submit my TB form with as I'm not a fan of a personal account officer, got this weird feelings these guy cld have me kidnapped ,let alone of invest app.

Your 2cents makes to sense...can you type something readable?

Where's everybody?

I actually dont work for i-invest. I just use the app and understand how the banking system in naija works...

the response you got from sterling bank is based on the question you asked. If there's a glitch in the system, it's possible your deposit was not properly reflected to the I-invest team so they can credit your wallet and because you were out of town, you couldn't sort out the issues

The app is used for investment. The fact that you transfer money to the wallet of the app doesn't mean you have invested in treasury bills. You have to use the funds you transferred to buy specific tbills with specific maturity date for you to say you have invested

From your story, you most likely started accusing the bank and the I-invest team rather than sorting the issue out properly and pulled your money out when you were supposed to be buying tbills, so it's sad your money got tied up in the system but that doesn't entitle you to interest payment. What happened to you is not the fault of I-invest but rather that of the nibss, your bank and sterling bank

Barrytone:
My personal experience, I invest failed to care even with my money in their kitty. Las las I wasn't paid interest for the period the money was with them.
My bank, FBN confirmed money left my account to destination. I invest said they can't see my money. Sterling Bank said they are only bankers, it's between 2 customers so I go sort it out with I invest. I stay in Uyo, no I invest office. I then threatened my bank who then lodged a complaint with cbn and the threat made I invest to call me within 2 days and claim they have seen my money in their coffers. All this took away over 3 weeks from me and even when they claim interest will be paid for the period, they never did and I was contented with my capital. That was my personal frustrating experience.

You're blaming the interbank failure on i-invest. If you transferred money from your account to the app wallet and there's a glitch along the way, how is that the fault of i-invest...

it took you 3 weeks to sort out the issues and you never bought tbills using the app yet you want them to pay you interest, what exactly did you invest in that you're demanding interest for?

RealityShot:
does i-invest app give upfont interest?
is that app immune to hackers?
is your tablet/smartphone immune to hackers/theft?
how can you be encouraging people to put their life savins and gratuity in the hands of some young programmers who are probably underpaid and liable to peer-pressure?
or have you not seen the movie JURASSIC PARK?
IF THAT APP IS HACKED tomorrow, will that tiny bank pay evryone their money back?
perhaps you think it is everyone that is doing N100k tbills.
Please do not promote that app AT ALL!!!

1. I-invest doesn't give upfront interest

2. The app is just an interface to show you details of your investment, allow you to place orders for tbills and give instructions to withdraw your money when you want. They give you email trails of each instructions carried out for you so even if the app is broken you have data external to the app to back up your claim.

3. Hacking the app is not a viable venture unless you leave money in your wallet and hackers use the app to withdraw money from your wallet. If that happens you'll receive an email from the app confirming your withdrawal instructions...now if you leave your phone to be hacked, that's your fault..not the fault of the people behind i-invest

4. The developers make a spread between the rate they get tbills from cbn and the rate they send to you. They make that spread quickly and turn around to buy more to sell to more investors in tbills, so they actually make a lot more than you in a shorter time because they dont have to hold the Bill's to maturity

davit:
Thanks. Have you ever tried withdrawing your money without any issue? Also, do they charge for other things like it is done with buying TB in a bank.

the only deduction at withdrawal is 52.50k for interbank transfer