PuZZyNegro:
Please, what percentage is this sukuk bond paying

11.20%

Breaking: CBN adjust naira from N360 to N380 at SMIS

According to our sources, the central bank informed banks that they will only accept bids from N380/$1 and above and no longer N360/$1 meaning those who bid lower will not get any forex allocation. Transaction success in this market is based on bids with those who bid higher than the floor as they are often in an advantageous position to secure forex.

This is essentially a huge attempt at unifying the naira and another adjustment of the exchange rate by the CBN. Recall the CBN Governor had informed investors that the bank will be unifying the exchange rate towards what is being traded at the NAFEX market where investors and exporters trade forex.

Nairametrics understands a circular has been sent to banks but we are yet to see it.

The SMIS window was created by CBN for importers to ease the pressure faced by businesses in the foreign exchange market through sales of foreign currency to authorized dealers (wholesale) or to end users through Authorized dealers. Businesses usually conduct their bid for forex at the SMIS window every two fortnight.

Currently, rates are set at a floor of N360/$1 and a ceiling of N385/$1. Thus bidders are expected to bid within that range. The higher the bid the better your chances at getting forex. It is unclear if there were any buyers that bid above N360 as we gather most of the importers were not informed of the changes in prices until today.

In February, the CBN has injected $218.41 million into the inter-bank retail Secondary Market Intervention Sales (SMIS). The dollar sold at the time meant for only agricultural and raw materials sectors, is in continuation of its intervention in the inter-bank foreign exchange market. In May, the central bank surprised the market by injecting estimated $90-$100million to the system.

https://nairametrics.com/2020/07/03/breaking-cbn-adjust-naira-from-n360-to-n380-at-smis/

ojesymsym:
This is just me thinking, can you receive your interest from GTB on the first and quickly move the funds to Firstbank and receive another interest on the 4th?

Does not work that way, your interest is calculated per day till the end of the month.

If you move your money to First Bank on the 4th, your interest will reflect after a month which is 4th of the next month

GonFreecss1:


Can “we” in Nigeria use Ace Transfer?

I.e. can I convert FX to naira and send it to myself in Nigeria here?

I registered my debit card,provided identification documents and voila it was done. Download and try. it cant hurt to try

missjekyll:


I registered my debit card,provided identification documents and voila it was done. Download and try. it cant hurt to try

It doesn't hurt to try till he registers and input his details on a clone website and have his account cleared...
Nkpucha aburu ujo ooo

emmanuelewumi:



You will tick dividend reinvestment while filling the form.


If you didn't do that, get across to your account officer or the customer service representatives on how to go about it

OK thanks

Theconglomerate:
It doesn't hurt to try till he registers and input his details on a clone website and have his account cleared...
Nkpucha aburu ujo ooo

The app is downloaded off Android app store. You provide the documents inside the app not on the web.

I have been using them for 3 months happily. I dont mean to knock Nigerian fraudsters but they never reach to hack app. They are still doing phishing

missjekyll:


The app is downloaded off Android app store. You provide the documents inside the app not on the web.

I have been using them for 3 months happily. I dont mean to knock Nigerian fraudsters but they never reach to hack app. They are still doing phishing

Are you sure of this?

Nigsrdumb:


Don't do mutual funds, tb or anything like that.

Go for better options like stocks and bonds.

I can give you tips on where to start but this thread is strictly tb.

My funds is kinda little for bonds and stocks seems kinda complicated to me
thank you very much for showing concern btw

Theconglomerate:
Are you sure of this?

LMFAO. Come on now, spill it...what else are they up to?

This youtube channel I found shows how Indians and Tunisians do theirs. It gets really scary as they can remotely access your computer. I am not happy to share the link here so as not to give anybody ideas. But ,I will just say this.,invest in good antivirus and vpn. Delete suspicious emails. Do not take suspicious calls

ojesymsym:
Have you succeeded in waking others up? If you have very typical Nigerian friends they can start hating you for been too serious, uptight, stingy and many derogatory names. Yet, they go wan come borrow money when you wen get am deny yourself.

That's interesting

ojesymsym:
This is just me thinking, can you receive your interest from GTB on the first and quickly move the funds to Firstbank and receive another interest on the 4th?

Lol. This got me cringed. No you can't, the interest you received on the 1st is actually for the previous month and you have to wait another month to generate another interest.

missjekyll:


LMFAO. Come on now, spill it...what else are they up to?

This youtube channel I found shows how Indians and Tunisians do theirs. It gets really scary as they can remotely access your computer. I am not happy to share the link here so as not to give anybody ideas. But ,I will just say this.,invest in good antivirus and vpn. Delete suspicious emails. Do not take suspicious calls

What they do is cloning.
They'll clone apps and give you registration steps that would expose your details to them.
When they have those details,sorry.
Na back to back debit alert you go dey receive.
Also they hack emails and steal sensitive informations too.
They also impersonate via web.
To be safe,avoid those platforms at all cost.
Or operate multiple accounts with limited funds in the account for online transactions.
I am conventional,I do all my transfers via pen and paper,no bank entry,no transfer.

emmanuelewumi:



Dividend from FBN Quest money market fund also dropped today

Yes, also I think there might be a further fall on the daily interest as Tbs is currently at 3.39, these two go hand in hand.

I think you got the context wrong, what I believe he meant was that the money entered (dropped) in his account not the reduction in rate that I think you are assuming it is.

Akin3891:


Yes, also I think there might be a further fall on the daily interest as Tbs is currently at 3.39, these two go hand in hand.

XiaoLi:
First bank savings interest have dropped few hours ago.

Just checked, mine hasn't drop, maybe it's done in batches, which I doubt.

The millionaires thread

CsRockefeller:
The millionaires thread

Indeed

I received mine few hours before i shared it here, maybe you need to call them.

Akin3891:


Just checked, mine hasn't drop, maybe it's done in batches, which I doubt.

Sholapey:
11.20%

Thank you. I read the tenure is 7 years

Akin3891:


Yes, also I think there might be a further fall on the daily interest as Tbs is currently at 3.39, these two go hand in hand.

Are you still doing TB?

PuZZyNegro:


Thank you. I read the tenure is 7 years

You can sell before the 7th year

oneroflo57:


My funds is kinda little for bonds and stocks seems kinda complicated to me
thank you very much for showing concern btw

You can do stocks with 10k

Nigsrdumb:


Don't do mutual funds, tb or anything like that.

Go for better options like stocks and bonds.

I can give you tips on where to start but this thread is strictly tb.

Money market fund is a good way to save money

Good Day Everyone.

To prospective client Who have been finding it difficult to subscribe to The Vantage Guaranteed Income Fund online, I wish to inform you that the technical issues have been resolved you can now subscribe using the new link generated ( check my signature).

For alternative investment with a better ROI choose The Vantage Guaranteed Income Fund from.

VGIF ROI - 7.5% Benchmarked Against SDF.

To open an account with Investment One kindly use the link on my Signature.

missjekyll:


I registered my debit card,provided identification documents and voila it was done. Download and try. it cant hurt to try

Alright. Thank you.

I believe we already have one Emma on this thread for this, we are so far very pleased with his services and support.

Dsticks47:
Good Day Everyone.

To prospective client Who have been finding it difficult to subscribe to The Vantage Guaranteed Income Fund online, I wish to inform you that the technical issues have been resolved you can now subscribe using the new link generated ( check my signature).

For alternative investment with a better ROI choose The Vantage Guaranteed Income Fund from.

VGIF ROI - 7.5% Benchmarked Against SDF.

To open an account with Investment One kindly use the link on my Signature.

This is a very good thread. It talks about the things we talk about in a no hold back way.
https://www.nairaland.com/5965300/africa-poorbecause-africans-dont-believe

ojesymsym:
I believe we already have one Emma on this thread for this, we are so far very pleased with his services and support.

There's space for everyone

It is really great to know CBN is now working to unify the long overdue naira exchange rate to dollar. CBN should also work hard to reduce inflation, inflation is our biggest problem in Nigeria. A weak naira to dollar is not a problem but inflation of foods/goods. There are lots of Asian countries with weaker currencies than naira, but have a very strong economy and purchasing power. Our greed as Nigerians also play a big role in inflation, I was baffled when govt reduced the price of fuel and most filling stations across the country refused to reduce their prices, few weeks later, govt increased fuel price again and same oil marketers and filling stations increased their fuel prices within minutes, our greed has no limit or boundaries.

It is time for our local and state govt to set up a commission to checkmate the incessant increase of foods/goods by marketers in Nigeria. We always blame things on high dollar, bad roads, bad economy or bad leadership and often forget our complexities as individuals.

As long as the prices for foods and local made goods are cheap and affordable, 95% of Nigerians don't and won't care if a dollar is 1000 naira.

About 3yrs ago when I visited a local market in Malaysia, many of the shops in this vibrant market was lockedup by local police and asked to pay a certain fine before reopening. A certain Emirati man approached me and explained the situation to me that these shops were lockedup because they have incessantly increased the prices of goods, even after receiving warnings from local authorities.

This is the time for Nigerian govt to act against these greedy marketers and help those citizens and consumers who can only complain and cannot fight for themselves.

Theconglomerate:
What they do is cloning.
They'll clone apps and give you registration steps that would expose your details to them.
When they have those details,sorry.
Na back to back debit alert you go dey receive.
Also they hack emails and steal sensitive informations too.
They also impersonate via web.
To be safe,avoid those platforms at all cost.
Or operate multiple accounts with limited funds in the account for online transactions.
I am conventional,I do all my transfers via pen and paper,no bank entry,no transfer.

Unless you are transferring huge funds, many banks now discourage entering into the bank for transfers. And that is the future. Unless people who would be willing to pay special fees, customers would have to make transfers on their own

einsteine:


Unless you are transferring huge funds, many banks now discourage entering into the bank for transfers. And that is the future. Unless people who would be willing to pay special fees, customers would have to make transfers on their own

Transfer of below 100k are not allowed in the banking halls of First Bank, you will be advised to use the phone, mobile banking app or the ATM