NL1960:


Why does that option have to be picked?. I thought interest being capitalized automatically equates to compounding.

It has to be picked because investors in mutual funds have their different objectives while investing. Some investors prefer to invest their interest from mutual funds in other forms of investment while some use theirs for sustainance.
N. B interest becomes part of your capital (capitalized) only at the date of payment not as it is earned. ie interest earned daily but paid or capitalized quarterly for MMF and biannually for VGIF.

Is that right? I thought each day's interest gets added to the capital on VGIF?

speak2lift:
Nice posts Dexterous one.

I was also considering the option of Citizen By Investment - I registered with migronis group and have been reading so much on it.

The money was looking attainable to me before devaluation but now that naira is now 470 to a dollar, it is now seeming almost like a tall order but I believe God will help.

I was skeptical about St Kitts offering - not too sure if their passport is good enough...Malta's offering would have been perfect but it is way out of my league. 200,000 - 250,000 euros Sighs.


You mentioned UAEs residency program - can you share a link on that? Thanks

The easiest residency program with a path to citizenship is from Panama. You can get residency in Panama with an investment of less than $20,000 for a family of four.

ojesymsym:
Is that right? I thought each day's interest gets added to the capital on VGIF?

That is what is obtainable in mutual funds especially those that are not price based.
Interest is earned daily but paid according to what is specified on the funds prospectus.

For VGIF, interest is paid 1st July and 1st January and if you opt for reinvestment of interest (compounding) the accrued interest will be reinvested on those days otherwise it's credited to your bank account.

odimbannamdi:


These monies that CBN debited from banks, will they be returned when the banks attain the recommended ratios?

The money will be returned.

CBN does not want them to use the fund to speculate on forex or become too heavy on fixed income.

Upon all the deduction, growth was observed in the H1, is half year financial report of the banks even with the Covid 19 pandemic.



MTN is minting serious money in Nigeria, with an average revenue of over N100 billion per month from January 2020 to June 2020

emmanuelewumi:



The money will be returned.

CBN does not want them to use the fund to speculate on forex or become too heavy on fixed income.

Upon all the deduction, growth was observed in the H1, is half year financial report of the banks even with the Covid 19 pandemic.



MTN is minting serious money in Nigeria, with an average revenue of over N100 billion per month from January 2020 to June 2020

Oh! I understand now. Thanks sir.

Not just MTN, nearly all telcos. On data alone, i spend nearly 10k per month.

How can one own a telecommunications company?... ...those guys are making blood money!!!

ahiboilandgas:
really most people of forbe list of wealthy didnt build up wealth by compound interest i think?

The art of compounding does not only refer to fixed income investment. Most rich people actually got rich from compound interest (which simply means earning interest on interest or reinvesting your profit). For many years, Microsoft did not pay a dividend, any profit was reinvested in new products or acquisitions. The same with successful consumer companies such as P&G, Johnson&Johnson, etc.

By reinvesting and compounding most of your profit, you can grow your business. That is what the average business cannot do as the owner must survive from the proceeds.

emmasoft:


It has to be picked because investors in mutual funds have their different objectives while investing. Some investors prefer to invest their interest from mutual funds in other forms of investment while some use theirs for sustainance.
N. B interest becomes part of your capital (capitalized) only at the date of payment not as it is earned. ie interest earned daily but paid or capitalized quarterly for MMF and biannually for VGIF.

Does this not mean that if i put such money in a high yield savings account that capitalizes monthly, i could outperform any MMF or any fund in the same category as VGIF?.

odimbannamdi:


Oh! I understand now. Thanks sir.

Not just MTN, nearly all telcos. On data alone, i spend nearly 10k per month.

How can one own a telecommunications company?... ...those guys are making blood money!!!

You can be part of the owners of any company telecommunications inclusive by buying their shares. For example you can be part of the owners of mtn if you buy the shares of mtn and you will benefit from the money they are making.
Shareholders of mtn will collect N3.5 by 24th of August 2020 as interim dividend.

Thanks. Clearer now.
Are January and July 1st fixed dates or 6 months from when each person make his deposit?

emmasoft:


That is what is obtainable in mutual funds especially those that are not price based.
Interest is earned daily but paid according to what is specified on the funds prospectus.

For VGIF, interest is paid 1st July and 1st January and if you opt for reinvestment of interest (compounding) the accrued interest will be reinvested on those days otherwise it's credited to your bank account.

emmanuelewumi:



The money will be returned.

CBN does not want them to use the fund to speculate on forex or become too heavy on fixed income.

Upon all the deduction, growth was observed in the H1, is half year financial report of the banks even with the Covid 19 pandemic.



MTN is minting serious money in Nigeria, with an average revenue of over N100 billion per month from January 2020 to June 2020

Telcos are milking money this period from data because of online lessons. I have to suscribe data for my kids every 2 weeks for online lessons.

ojesymsym:
Thanks. Clearer now.
Are January and July 1st fixed dates or 6 months from when each person make his deposit?

The dates are fixed. Irrespective of the day you invest, the interest is prorated. You don't have to wait till six months before you are paid interest.
If for example you invest in the fund today all your accrued interest from today till 31st of December will be paid or reinvested on 1st of January depending on your option as regards interest utilization.

NL1960:


Does this not mean that if i put such money in a high yield savings account that capitalizes monthly, i could outperform any MMF or any fund in the same category as VGIF?.

How high is the yield? Don't forget that those money you kept with the banks find their way into funds like VGIF and don't always forget WHT when it comes to banks which is not there for mutual funds.

ahiboilandgas:
me too i tried to reason am but i looked closely some people bided 12 percent but the cbn got all even at 1.2....it crazy

Could it be they are not being truthful with the bids rates, because no individual investors in his or her right sense would tie funds down for 1.2% when saving interest is 3.75, much of these funds aren't from individuals, seems like a game.

Akin3891:


Could it be they are not being truthful with the bids rates, because no individual investors in his or her right sense would tie funds down for 1.2% when saving interest is 3.75, much of these funds aren't from individuals, seems like a game.

look at the bids ranges over 50 bided above the stop rates but the problem is some people are even biding 2.7 less than the cbn stop rate......it very strange....some thing is happing that we dont understand.....i suspect pension funds

Akin3891:


Could it be they are not being truthful with the bids rates, because no individual investors in his or her right sense would tie funds down for 1.2% when saving interest is 3.75, much of these funds aren't from individuals, seems like a game.

at 3.5 the tb is better than the saving interest..the real rate of return on the tb will be around 5

DexterousOne:


I think I got a lil fond of the country

You know
There are many beer brands
And each one of us have favourite

It's the same for the citizenship by investment thing

There are a couple of them
And we all have our favourite.

And yea
Some of them have reduced the money small sha

It's for one to keep working hard and accumulating the money... once the time is set, our expat life then begins.

That citizenship by investment thing is something that one who seeks international footprint should look into (and if you can afford it o)

There is a country I was told I could get their citizenship with $20 grand plus one year of residency there
But I dont like the place like that...

But some rich folks from Nigeria are going there to settle too.
Like me, many of them are fed up with the madness

What country?

Akin3891:


Could it be they are not being truthful with the bids rates, because no individual investors in his or her right sense would tie funds down for 1.2% when saving interest is 3.75, much of these funds aren't from individuals, seems like a game.

When money is in savings, there is the tendency to go and withdraw it for frivolous spending or frivolous request. Such money is no longer available when it is in TB.

Sholapey:
The easiest residency program with a path to citizenship is from Panama. You can get residency in Panama with an investment of less than $20,000 for a family of four.

@Greenvaiper
Refer to this

DexterousOne:



@Greenvaiper
Refer to this

The country's passport gives access to nice European countries like UK, Germany Sweden Denmark and norway. Nice one.

But how long to get their passport after investing 20k dollars?

emmasoft:


You can be part of the owners of any company telecommunications inclusive by buying their shares. For example you can be part of the owners of mtn if you buy the shares of mtn and you will benefit from the money they are making.
Shareholders of mtn will collect N3.5 by 24th of August 2020 as interim dividend.

Sir is there a minimum amount of shares one have to hold to receive dividend?

ahiboilandgas:
at 3.5 the tb is better than the saving interest..the real rate of return on the tb will be around 5

Plus the 10% WHT you will lose from the interest on your savings.

Aquilapriscilla:

Sir is there a minimum amount of shares one have to hold to receive dividend?

As per the NSE, the minimum amount of a company's shares you can hold is one unit.
You are qualified to benefit from dividend declared whether interim or full year once you hold at least a unit of a company's shares on or after the closure date of register of shareholders in respect to the corporate action. The amount of dividend received is determined by the quantity of shares held.

Using MTN, if you have at least a unit of shares of MTN before 17th August 2020 and after that date, you are qualified for the interim dividend declared and payable on the 24th of August 2020.

Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

Many people do not appreciate the scale of this scourge

ultron12345:
Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

ultron12345:
Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

When I see/hear people saying Nigeria problems are bad leaders, I just laugh.
The whole system is rotten.

emmasoft:


It's automatic if you picked that option during your account opening process. That is what obtains at investment one and I want to believe it's same for other fund managers

I see you have different products on the website, can you elaborate a little bit of each of them. So that we can know which one to choose/tick while registering. Thanks

ultron12345:
Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

I saw that topic and was shocked. Salary of 35k per month and 2k daily allowance with him living within the area and he is still stealing 50-60k weekly. Seeing this, who wants to go and invest in the real sector?. Like i always say that if you are not physically available to manage your business yourself, there is no point setting up one.

gogedda:


I see you have different products on the website, can you elaborate a little bit of each of them. So that we can know which one to choose/tick while registering. Thanks

Kindly chat me on 08181057319. I already have a voice note prepared to that effect I will send to you right away.

emmasoft:


Kindly chat me on 08181057319. I already have a voice note prepared to that effect I will send to you right away.

Thanks.

ultron12345:
Take a look at this topic that made front page few days.

https://www.nairaland.com/6021726/juju-scare-should-quit-job

Like what we were discussing the other time.

Salary: 35K per month
Daily Allowance: 2K daily (40k- 48k per month)
Yet, he's stealing 50-60K weekly (200-240k per month) from his employer, and he said he's not the only one. Imagine they are up to 4 or 5 engaged in this act. The business is loosing N1M to theft monthly.

And the owner will be thinking buhari or village people are the reason her business isn't doing well, not knowing its the witches and wizards that she employed.

Nigerians are wicked. If this business fails now, you'll see the theives shouting "No job, No job". When they've killed all the businesses that were supposed to create jobs.

Another surprising thing is that such theft has even been normalized in the society. He said it so proudly, without a single iota of shame, and apart from one or two people, the majority of those commenting didn't even say anything about the theft. They're telling him to pray, and even him after stealing is still claiming to be a Christian. Another irony is how Nigerians can be so religious yet so wicked, evil and fraudulent.

Nigerians are the problem of Nigeria.
The reason most Nigerians haven't stolen billions of government money is simply lack of opportunity.
The population of Nigerians waiting to steal is greater than the population of those currently stealing.
The only reason Nigerians are angry at corruption by politicians, is because they're not the one benefiting from it.

It shall never be well with that OP. Hopefully, that his leg injury will turn into cancer and kill him. Bastard.

It took a friend four years to realize that his BRT bus driver bought 2 BRT buses while working for him and his monthly salary was actually paid into the driver's side chick bank account, since he claimed not having a bank account.

Sholapey:
The easiest residency program with a path to citizenship is from Panama. You can get residency in Panama with an investment of less than $20,000 for a family of four.

Unfortunately, I think Nigerians are not eligible for the $20,000 investment program. They're eligible for the $80,000 program.