Wiseman456:


Please in filling a form for a Commercial paper, what do they use the TIN (tax number) for? Apart from remitting the 10% WHT to government, is there any other use for it especially if one is a civil servant.

Oga Emma, please also comment.

unite4real:


Your effective yield could top 15% when you compound this

Please in filling a form for a Commercial paper, what do they use the TIN (tax number) for? Apart from remitting the 10% WHT to government, is there any other use for it especially if one is a civil servant.

Yesterday, Jan 02, Access.

sirrotex:
Nice. When did you receive it and what bank do you use

Yea

sirrotex:
Noted. Talking of dmo, has anyone received Sukuk IV December payment

Thanks.
Please which investment firms do u recommend. My stockbroker doesn't seem to understand eurobond.

ernie4life:


Fidelity bank 2022 is currently 10.5% although its trading at a premium but your effective yield would most likely be in 9+ levels which is good considering its dollars

Hello Ernie4life,
Any suggestions on the eurobonds we can consider for a higher return (sovereign, banks...). Also which investment firms do u recommend.

ernie4life:


Minimum you can buy depends on the firm you are dealing with, some collect $10K, $100K, $200K, or $250 so I advise you inquire from the firm you are dealing with to know there minimum.

As regards to fluctuations of dollar what I will say is if you buy with $100K upon maturity you still get you dollars.
the whole transaction is in dollars.

I'm interested, does it work like TBills

ernie4life:
House check out this commercial paper offer of 13% yeild net for 91days from Nigerian breweries, ends next week Tuesday.

Contact me if interested

Please can you share the mode of application and return on investment. A look through their website is showing the page is unavailable

hilaryxoxo:


United Capital

Based on your experience, which dollar fund do you recommend for a better rate?

hilaryxoxo:
I am seeing a lot of posts on this new investment one dollar fund...

Let me advise you based on experience. If you want to invest in a dollar fund aka Eurobond fund, DO NOT INVEST IN A NEW FUND! I REPEAT, DO NOT INVEST IN A NEW FUND!

The reason is this;

The fund is new, they have a lot of initial and regulatory fees that they are going to pay - this means that the rate you would get won't be as competitive as what's obtainable in the market. The fund won't even breakeven until about 6 months - 1 year - depending on the fund managers capability.

Have you considered Stanbic IBTC dollar fund?

sabanageorge:
Just going to drop a tip here regarding doing the Eurobond investment with FBN Capital. Big tip: don't waste your time! It's not worth it.

Firstly, in order to send about 5000usd start capital to them, you will pay fx transfer fees of up to 24,000 naira, if not more. Not really settled down to calculate how much they've charged me so far for all range of reasons, but it's in the region of 25,000.
In addition to that, FBN capital ended up receiving 4950usd, not 5000usd. Apparently, further charges applied to the principal sum. I don't even know how that happened.

Now, even if you assume that this will rake in 18% annually (which as I have been informed by their Customer Care isn't even the case. I think they do in the region of 10% or so), all the charges subtracted from the base fee is already the money you want to make in a month, i.e. 0.18*363*5000/12 = ~27k or so. Using 363ngn exchange rate which is what I used to convert the dollars.

The way it looks, you are better off just doing the regular naira MMF which has very little bank charges associated with it. Or just keep your dollars in your domiciliary account.

[quote author=condomuser post=60994889]The last time i checked on Eurobonds which had its subscription in February i was told i can only subscribe with USD contrary to the name EuroBond and the minimum subscription is $5000.

The interests is around 6% per annum and it is very much possible to cash in USD and run to Aboki

Please how did you go about this, which mutual fund or investment house did you approach. Kindly give more details

Hello whaithee , any update on your quest. Would be interested in your findings �