otomatic:
When the currently most profitable bank in naija, ZIB, is giving maximum interest of 0.5% for deposits of 200m and above and 0.4% for anything below, i become suspicious of any MFB offering 14%. Are they a wonder bank? Better park your cash with a regulated asset management company o.

otomatic:
When the currently most profitable bank in naija, ZIB, is giving maximum interest of 0.5% for deposits of 200m and above and 0.4% for anything below, i become suspicious of any MFB offering 14%. Are they a wonder bank? Better park your cash with a regulated asset management company o.

Enyinne:
Did i borrow from u or ur bankers ?why is my affairs ur business? Pls dont mention my name in such quote again. I'm old enough to run my life and my finances

sammily:


Can you name one or two that you consider the best to '' park our cash in '' I know of Stanbic assets managers, is there any other better?

sammily:


Can you name one or two that you consider the best to '' park our cash in '' I know of Stanbic assets managers, is there any other better?

pluto09:


When you are ready.
In the mean time,there are good books out there you can be playing around with even if you are not ready. Learning is a long life process. All of us are still learning..

BUTTERMILKSUGAR:
I am so worried and confused at how things are going. I went through hell yesterday. Trust no one

A close friend of mine proposed a new business idea(Okirika business precisely ) which I was very cool with it because we're almost in a festive period and he mentioned how much we stand to gain if we work together as a team.

Before this close friend of mine brought up this business idea of his, I had about 70k in my union account, he said I'd part with about 50k and he will also add his own 50k to make it a 100k so we can order for our goods directly from a guy he claimed he trusted. I gave him 50 then I was left with 20k with a lot of expenses but I had no worries because I felt — I have a legit business,
with alot of profit coming.


Now forward to last week Wednesday; our goods was supposed to be delivered on or before Thursday, so we start selling full time on Friday and Saturday.

PS: I have no clue about this business. my part was just to partner with my friend who understands
invest my own capital, have my goods delivered then business begins.

Now the real issues that are so much bothering me is; I don't even know the said guy who was suppose to deliver our goods, from the way things are going, I don't need a soothsayer to know I have been scammed likewise my friend.

God, why do bad things happen to
honest people with good intents.

I just felt like sharing this
here because I feel more like a FAM here.
Presently i'm so broke to the neck, like I literally need to start from the scratch. Please help me. I'd appreciate every help kind gesture from anyone who have enough to spare.
Thanks
Union Bank 0018958987

kentgold:
I was so bittered and angry at everything and
everyone two days back.I went through hell yesterday. Trust
no one.
Here is my story;
A close friend of mine proposed a new business idea
( Okirika business precisely ) which I was very cool with
it because we're almost in a festive period and I know
how much we stand to gain if we work together as a
team.
Before this close friend of mind brought up this business
idea of his, I had about 70k in my union account, he
said I'd part with about 50k and he will also add his
own 50k to make it a 100k so we can order for our
goods directly from a guy he claimed he trusted, which I
did,.then am left with 20k with a lot of expenses but I
had no worries because I felt — I have a legit business,
with alot of profit coming.
Now back forward to last week Wednesday; our goods
was supposed to be delivered on or before Thursday, so
we start selling full time on Friday and Saturday.
PS: I have no clue about this business. my part was
just to partner with my friend ( more like a middleman ),
invest my own capital, have my goods delivered then
business begins.
Now the real issue that is so much bothering me is; I
don't even know the said guy who was suppose to
deliver our goods, from the way things are going, I
don't need a soothsayer to know I have been scammed
likewise my friend, God, why do bad things happen to
honest people with good intents.
I just felt like sharing this
here, may be.
I feel more like a FAM here.
Presently, I'm so broke to the neck, like I literally need
to start from the scratch. I'd appreciate any kind
gesture from anyone who have enough to spare.
Thanks.

Raeheemwayne:
Lol. I was so bittered and angry at everything and everyone two days back. but, This thread brightened my mood this morning, I went through hell yesterday. Trust no one.
Here is my story;
A close friend of mine proposed a new business idea ( Okirika business precisely ) which I was very cool with it because we're almost in a festive period and I know how much we stand to gain if we work together as a team.
Initially, I trade bitcoins ( buy/sell ) but I still needed a lot of capital for it and I'm also a part time nails and beauty stylist ( part time in the sense that; since I got admitted into the university, I only deliver home services ).

Before this close friend of mind brought up this business idea of his, I had about 70k in my polaris account, he said I'd part with about 50k and he will also add his own 50k to make it a 100k so we can order for our goods directly from a guy he claimed he trusted, which I did,.then am left with 20k with a lot of expenses but I had no worries because I felt — I have a legit business, with alot of profit coming.

Now back forward to last week Wednesday; our goods was supposed to be delivered on or before Thursday, so we start selling full time on Friday and Saturday.

PS: I have no clue about this business. my part was just to partner with my friend ( more like a middleman ), invest my own capital, have my goods delivered then business begins.

Now the real issue that is so much bothering me is; I don't even know the said guy who was suppose to deliver our goods, from the way things are going, I don't need a soothsayer to know I have been scammed likewise my friend, God, why do bad things happen to honest people with good intents.
I'd have created a thread for this but the audience will be too loud and unnecessary, I just felt like sharing this here, may be because I feel more like a FAM here.

Presently, I'm so broke to the neck, like I literally need to start from the scratch. I'd appreciate any kind gesture from anyone who have enough to spare.
Thanks.

drotba:


Sir please help us with the books

pluto09:



The intelligent investor by Benjamin Graham is a must.
I personally like Peter Lynch books,beating the street and one up on wall street are my favourites.

Afr0mentalist:

@bolded

Please dear Enyinne, I want to believe you and Lazyyouth4u are not the same person. To this effect, can you kindly tell us on which post Transatlanticex mentioned you the first time on this issue ?

sammily:


Can you name one or two that you consider the best to '' park our cash in '' I know of Stanbic assets managers, is there any other better?

Comeandcollect:

It is a bank that was being promoted by Cubana Chiestfpriest around May 2020 and they use to offer 20k when you open account with them. They are a microfinance bank and the fixed deposit rates arre ;
30-60 days - 8.5 %
61 - 90 days - 9.0 %
Up to 180 days - 11 %
Up to 365 days - 14 %
They said they are backed by NDIC. I'm not sure how much cover that gives an investor if they default in paying customers, i think the discussion here a few days ago mentioned N500k, someone should correct or confirm this.

Eddee:


Stay with Stanbic Asset Managers, it's very easy to keep track of your portfolio especially if you're always on the move (and invest in more than one offering, plan or instrument). Better app interface, more responsive customer care and besides less queues at physical branches in the event that sh*t hits the fan and you want to redeem more than the limit allowable online.

Did I forget to mention that redemption requests are processed faster than Zenith. I use both, had to diversify my small portfolio a while back, in retrospect I should have kept everything with Stanbic.

If I perish, I perish!

Grupo:


Please, how do one invest with bolded?

Eddee:


Walk into any Stanbic bank and ask for their relationship/customer care reps to seek further guidance.

Or preferably - go through this link https://www.stanbicibtcassetmanagement.com/

Since, this is a learning curve for you - start with the most risk-averse

https://www.stanbicibtcassetmanagement.com/nigeriaassetmanagement/individual-investor/products-and-services/mutual-funds/Stanbic-IBTC-Money-Market-Fund

emmasoft:


I recommend VGIF managed by investment one. Interest is 7.5% guaranteed. Check my signature for contact to get details or read earlier pages on this thread to read my previous posts on VGIF

Lazyyouth4u:

Sir, is this 7.5% really guaranteed or just a target return? Guarantee funds typically guarantee capital and not returns so can you please let me know how this is different? If the returns are guaranteed, is this written in the fund document? Also, what are the fund’s expense ratio and management fees? Are the target/guaranteed returns net of the fees? Or will the fees be deducted from the returns?

Comeandcollect:

It is a bank that was being promoted by Cubana Chiestfpriest around May 2020 and they use to offer 20k when you open account with them. They are a microfinance bank and the fixed deposit rates arre ;
30-60 days - 8.5 %
61 - 90 days - 9.0 %
Up to 180 days - 11 %
Up to 365 days - 14 %
They said they are backed by NDIC. I'm not sure how much cover that gives an investor if they default in paying customers, i think the discussion here a few days ago mentioned N500k, someone should correct or confirm this.

Lazyyouth4u:
It is 200k per deposit that is guaranteed insured by the NDIC for micro finance banks. MFBs are very risky institutions to keep money at so one has to be very careful and carry out thorough due diligence before keeping money with them. In 2018, CBN revoked the licenses of over 150 failed MFBs. I personally wouldn’t keep money in an MFB.

Boyhood:

You have been using the word guaranteed in place of insurance or interchangeably in your previous comments and at times it doesn't go with the context thus distorting the message you are trying to pass

Lazyyouth4u:

Impossible sir. With 22 banks in Naija, only 11 million is guaranteed. The rest can be lost any time. Jay jay Okocha learnt this the hard way . Risk averse billionaires mitigate this risk by keeping their money in foreign banks, even with the 0.5% interest they earn.

henifri:
How did he learn the hard way? Please explain more

Lazyyouth4u:

Jay jay lost the equivalent of 4million pounds in Societe General Bank in the early 2000s when the bank failed. This was prior to the bank consolidation in the sector that occurred in 2005.
It is highly unlikely that this will ever happen in Nigeria again except something catastrophic crashes the entire banking sector. So there is nothing to worry about.

Philantropists:

Okocha didnt lose money, société generale is still active up till today as an entity. It was the société general who received neymars transfer fee of €222 million euros a few years ago.

Philantropists:

Okocha didnt lose money, société generale is still active up till today as an entity. It was the société general who received neymars transfer fee of €222 million euros a few years ago.

Wickedfact:


Please, don't argue this. It makes you look really ignorant.

Philantropists:
Société General is well established in Europe, they are one of the strongest banks. No Nigerian banking with Société General Europe has ever lost a dime.