Agbaletu:

Unite4real is a Prophet, he saw it all, but we thought he had made a mistake by locking up his funds in Sukuk.

Real sharp Guy.

unite4real:


The SUKUK bond is not monthly. It's once a year. As soon as the content of the 2019 budget is unwrapped layer by layer, we will get an early signal. However, the yearly SUKUK sale may not happen in the months of March, June, September and December this year because of coupons cycle. Look out for months outside of these or watch this space for early information. This is for the lockdown guys. I must tell you that it's extremely easy to sell it on the exchange but difficult to buy as most holders are adamant to sell including me.

Hahahahahaha. Sell for boys na...

Someone should please drop the formula for Treasury Bill. Thanks


And which banks offer the best rates in the market

Barrytone:
Good morning house, please which bank has the lowest charge when transferring money to USA via dorm account

For offshore transfers, I think GTB is 0.5% of amount + $25 offshore charge + N6000 telex.

ImperialCovfefe:


For offshore transfers, I think GTB is 0.5% of amount + $25 offshore charge + N6000 telex.

TBH this is quite expensive, and it might probably be among the cheapest relative to other banks. Nawa!

See my rich signature for your urgent financial needs

divinelove:


what is the minimum amount stanbic accepts for TB

Not sure there is a minimum! Some experts here can confirm.

divinelove:

what is the minimum amount stanbic accepts for TB

100k

Bluecollarguy:


GTBank is my only bank at the moment, but they've been acting up as of late. As a fellow Non-Resident, I am thinking of opening another account with either Stanbic or First Bank, especially for Tbill transactions. I ask you and/or other non-resident account holders, which of the banks should I go for, and what was the level of difficulty of opening the account with them from afar? I appreciate your feedback. #OneLove

Stanbic!!

oludy:


I guess the difficult part will be the KYC requirements. I remember someone actually visited my residence to confirm I live there before the account was fully activated.

On the contrary, I opened and the account became active in 2 days (just because of time zone and logistics). The painful part is just wasting money on notarizing documents. My Nigerian passport and utility bill had to be notarized ($100 just like that). Now, the worst is that I have to notarize my indemnity form!! So just to open account now, person go keep $150 because say em no dey stay for Naija. Well..........

Quite interesting to know. Thanks for sharing.

Really, which bank requests such?

Rijo02:


On the contrary, I opened and the account became active in 2 days (just because of time zone and logistics). The painful part is just wasting money on notarizing documents. My Nigerian passport and utility bill had to be notarized ($100 just like that). Now, the worst is that I have to notarize my indemnity form!! So just to open account now, person go keep $150 because say em no dey stay for Naija. Well..........

Pascopele:
No his right. give credit to who eve wrote it.

Is it your credit? Why una too like to dey take paracetamol for another person headache lol

Rijo02:


On the contrary, I opened and the account became active in 2 days (just because of time zone and logistics). The painful part is just wasting money on notarizing documents. My Nigerian passport and utility bill had to be notarized ($100 just like that). Now, the worst is that I have to notarize my indemnity form!! So just to open account now, person go keep $150 because say em no dey stay for Naija. Well..........

Na you wan spend money na. When you are very conservative with money like myself, when you've grown with a mother that is akagum in the highest level possible, you will learn by force to avoid spending even 5 Naira unnecessarily lol. Anyways, I opened GTB, Zenith, StanBic, and First from Canada and I didn't spend shi shi you can print a picture of your passport and have it notarized at your bank, freee of charge lol . You can even have your document notarized in court, for free, IF YOU ASK THE RIGHT QUESTIONS

Dear Gurus......please is it profitable to sell a TB purchased at 14.5% interest for 12% interest rate?

TotoNaRubber:

Really, which bank requests such?

Stanbic

Nnamz:

Na you wan spend money na. When you are very conservative with money like myself, when you've grown with a mother that is akagum in the highest level possible, you will learn by force to avoid spending even 5 Naira unnecessarily lol. Anyways, I opened GTB, Zenith, StanBic, and First from Canada and I didn't spend shi shi you can print a picture of your passport and have it notarized at your bank, freee of charge lol . You can even have your document notarized in court, for free, IF YOU ASK THE RIGHT QUESTIONS

Really? In Canada? So I wasted my monies eeh? Abeg which bank did those for you as CIBC and Scotia said they don't offer notary to customers. Which court can do that?

One-Month T-Bills Yield Drops to 10.51% After 0.69% Loss
https://businesspost.ng/2019/03/27/one-month-t-bills-yield-drops-to-10-51-after-0-69-loss/

Haaa, No put me for trouble o. Why I go vex na? The sky is wide enough to accommodate everyone. Our sole aim here is to get updated with market info. It must not come from my end.

Nnamz:

Dipoolowoo go vex for you o if you keep giving us updates here. Na em job be that

IT WILL NOT BE WELL WITH LOW RATES


12 HOURS OF INACTIVITY ON THIS THREAD IS UNUSUAL.

With inflation around 11% dem for leave rates around 14%. make our profit be 3%.

Na wa ooh.

Just2endowed2:


100k

Do they pay off-front

dipoolowoo:
Lending Rate Falls to 17.29% as T-Bills Market Trades Flat
https://businesspost.ng/2019/03/27/lending-rate-falls-to-17-29-as-t-bills-market-trades-flat/

well, this will be great news for those who have access to Bank loans naa...& hopefully they will drop prices of what they import!!!


btw...see this..


Micro Pension Plan
https://www.pencom.gov.ng/micro-pension/


see how scanty the info on pencom's site is? What does that tell you?


well, i will tell you something;
it is better you contribute part of your income (no matter how small) to money market fund and/or Treasury bills..


than to give pencom your life's savings.


why?
well, when it is time to collect, they will show you you no longer OWN the money; it is they who will make all the decisions and give you WHATEVER they deem fit, WHEN they like!!!


BEWARNED.

RealityShot:
well, this will be great news for those who have access to Bank loans naa...& hopefully they will drop prices of what they import!!!


btw...see this..


Micro Pension Plan
https://www.pencom.gov.ng/micro-pension/


see how scanty the info on pencom's site is? What does that tell you?


well, i will tell you something;
it is better you contribute part of your income (no matter how small) to money market fund and/or Treasury bills..


than to give pencom your life's savings.


why?
well, when it is time to collect, they will show you you no longer OWN the money; it is they who will make all the decisions and give you WHATEVER they deem fit, WHEN they like!!!


BEWARNED.

My brother thank you for this, please say this louder and warn them. Let them hear!

RealityShot:
well, this will be great news for those who have access to Bank loans naa...& hopefully they will drop prices of what they import!!!


btw...see this..


Micro Pension Plan
https://www.pencom.gov.ng/micro-pension/


see how scanty the info on pencom's site is? What does that tell you?


well, i will tell you something;
it is better you contribute part of your income (no matter how small) to money market fund and/or Treasury bills..


than to give pencom your life's savings.


why?
well, when it is time to collect, they will show you you no longer OWN the money; it is they who will make all the decisions and give you WHATEVER they deem fit, WHEN they like!!!


BEWARNED.

But the 8.5% is compulsory now. And even if you could opt out, you'd be losing out of the employer match which is free money.

The voluntary contribution is what I wouldn't subscribe to, just as I wouldn't subscribe to equity mutual funds. Basically cos those fund managers will underperform, and yet pay themselves fat from contributors' funds.

I wish they'd make pension optional though. Those who want should do it, while the rest of us can be allowed to invest our 17-20% ourselves.

Olusheyi1:
See my rich signature for your urgent financial needs

37% on loans according to your website!!!


is that the reduction in rates our "RICH" signature is offering? Seriously?

awesomeJ:


But the 8.5% is compulsory now. And even if you could opt out, you'd be losing out of the employer match which is free money.

The voluntary contribution is what I wouldn't subscribe to, just as I wouldn't subscribe to equity mutual funds. Basically cos those fund managers will underperform, and yet pay themselves fat from contributors' funds.

I wish they'd make pension optional though. Those who want should do it, while the rest of us can be allowed to invest our 17-20% ourselves.

exactly.


now that they are spreading their bad idea to non-civil servants like us, i think it's best everyone is aware of what they are getting into.


but, alas, the pencom website is vague!


i know someone who just got gratuity this month after 5 years of waiting.


guess what, pencom first said last year january, she would get an amount;
by december, they changed it to quarter of the initial amount.


she tried to complain nd she was vehemently refuted.

divinelove:

Do they pay off-front

yep!

within 3 working days ALERT!

divinelove:


Do they pay off-front

yes

RealityShot:
exactly.


now that they are spreading their bad idea to non-civil servants like us, i think it's best everyone is aware of what they are getting into.


but, alas, the pencom website is vague!


i know someone who just got gratuity this month after 5 years of waiting.


guess what, pencom first said last year january, she would get an amount;
by december, they changed it to quarter of the initial amount.


she tried to complain nd she was vehemently refuted.

Nawa o! On top her own money?

I can bet they are employing a form of fractional reserve i.e. Legal Government Backed Ponzi Scheme.

Nnamz:

Na you wan spend money na. When you are very conservative with money like myself, when you've grown with a mother that is akagum in the highest level possible, you will learn by force to avoid spending even 5 Naira unnecessarily lol. Anyways, I opened GTB, Zenith, StanBic, and First from Canada and I didn't spend shi shi you can print a picture of your passport and have it notarized at your bank, freee of charge lol . You can even have your document notarized in court, for free, IF YOU ASK THE RIGHT QUESTIONS

Am also in Canada, I want to open in stanbic too. But notarization is holding it. Abeg which bank and court did it free for you. My lawyer here is charging me $70 for 3docs. But am still waiting to see if I could get it done for free.

GonFreecss1:


Nawa o! On top her own money?

I can bet they are employing a form of fractional reserve i.e. Legal Government Backed Ponzi Scheme.

exactly!


they used most of the funds for something and asked the owners to take less or nothing.


then they hope to invest in Tbills and pay the owners part of the proceeds. All the while keeping the capital with them forever!


and that fractional reserve part eh! (are we sure there is even any fraction there?)
REMEMBER THIS :
https://punchng.com/fg-borrows-n5-5tn-from-pension-savings-delays-minimum-payment/

i wish i can open a pension or an insurance firm!!

Rijo02:


Really? In Canada? So I wasted my monies eeh? Abeg which bank did those for you as CIBC and Scotia said they don't offer notary to customers. Which court can do that?

It depends on what you define as notary. A notarized document is just anything that has your name and home address on it, with an official stamp of a recognized institution. In my own case, I had CIBC (same CIBC that doesn't offer notary to customers according to you lol) print a paper that had my name, address, and account balance. Then the paper was stamped and signed. Shi shi did not go into this. The banks in Nigeria accepted this as a notarized document. Case closed!