NewStats: 3,265,533 , 8,187,122 topics. Date: Sunday, 15 June 2025 at 04:03 PM 2h481r

awesomeJ:
Results for today's PMA have been published:
https://www.cbn.gov.ng/rates/govtsecurities.asp

discount rates at 10.0 10.5 and 10.7 respectively for the 3 tenors.

On the positive side though, oversubscriptions were mild.

Low rates ...... Hope Stanbic is sucessful sha

Hi all,what about results for the auction....

Ugosample:


How's the equity market going bros

I'm thinking of pitching my tent there, as a new challenge, and yes, you can check for your MMF balance now, I just did that.

It seems that the rates have dropped this month tho, I could be wrong tho

On the equity market, I jumped in then was told it is more of a long term investment. Been there for three months without capital appreciation ..... but am told that the gains when they come are worth it.

cybertek:


Having same issue here.. will call them and update u

Update: called and they said its an issue with d web interface, that i should check back

Thanks!!!

Hi all, just checked my Stanbic and did not see my MMF only my equity ?? What could be going on

sabanageorge:



Yes, capital is guaranteed. But here's why I got out at a loss:

Firstly, in order to transfer dollars to the fund of about $5k, you will pay almost 30k (~80dollars) NGN in fees. Then when your 5k dollars gets to first bank, not all the whole 5k will get there. Maybe 4.8k or 4.9 is what will get there. Then interest rate is only about 6%, not the regular ~15% you get with money market. So, if you get about 6% off $5k in one year, that's like 25dollars in a month. Let's round it up to 40$, let's just say the rate is better. That's not even up to the fees you paid in transferring the money. You see?
Then First Bank was not sending me regular updates on my investment. In addition there was no portal to view my balance like with money market (Stanbic, ARM, etc). That pretty much put paid to it for me, cos I didn't even know how much I was earning per month. So I decided to end it. Then they deducted fees off the little interest they had paid in the intervening months. Finally when they send the dollars to your , charges are applied to your money before it lands in your domiciliary . In the end, I think the whole 5k dollars reduced to about 4.5k. It was just a horrible experience for me.

In my estimation, it's better to do the standard money market, get your interests and convert it to dollars, then walk to the bank and deposit the dollars over the counter. That's the strategy I plan to apply now.

Thanks for the explanation. Sorry about your experience. On the bank charges, my thinking is whatever fund or bond am interested in, I will simply open a Dom with that same bank, convert Naira to dollars and deposit into the Dom , so as to avoid bank charges as much as possible. Interest or withdrawal of the funds also get credited into the Dom acc. I am interested in it as a store of value i.e long time compounding investment etc. But will think more deeply about it now, given your experience. Thanks again

sabanageorge:

I got out of it already, at a loss. It wasn't a good experience for me.

Please can you explain further, is capital not guaranteed?

haibe:


Thanks.

Can u explain this prices? How does it tell the current rate?

Very good question, anyone with the knowledge should explain. Also can more light be shed on equity mutual fund?

Please help change name to MTAConqueror. Urgently please. Appreciated.

debostar:
Please ,has anybody experience or understand Stanbic mutual fund computations. They promised to post their interest daily. Some days ,they post some amount ,some days nothing at all.Its been really confusing. Some days the amount posted is a lot less than the 17.5%.PLease can somebody help me

I have also been asking them, the same question. I got as low as 11.69% on certain days this month. I believe it is grossly unfair and borders on fraudulent behavior, their refusal to make daily credit statement available. Is this the international standard?

[quote author=infantlion post=62661694][/quote]Good to hear, the main factor was the fact that you didn't get your interest upfront, it made it easier to have your principal returned intact and even with a little interest after just a month. In the event, interest was received upfront, you will have had to wait at least two months or more to even get a semblance of your principal then maybe 3 or more for small interest with the principal.

Sach:

From my little experience, you can't tell until you get to the Bank. When I wanted to liquidate my tb from Stanbic bank, after about five days (91 days, 13%), I was told that the buy back rate was between 18.5/19% (which could have included some form of penalty). If I had gone for that, I would have lost all interest and principal would still have been greatly reduced. I am presently waiting for 30 days; which would see me have my full principal back and a very marginal (not up to 10%) portion of original interest. This is even assuming nothing has changed negatively (I.e buyback rate, because formula not clear) when I go back after the 30 days.

The main issue with Stanbic is the rate of repurchase. After waiting for 30 days, the purchase rate had reduced to 17% and given the 30 days invested, I got back the amount debited and additional 'interest', (about 12% of the initial total upfront interest).

It would have been nice, if the guy could have ed to return with an update.

This termination is an interesting topic, I agree with the elders, messrs. tony and ewumi... I will also give an update of my experience with Stanbic.

realjidejamal:
Here is the and conditions stated in the proof of payment given to me.

From my little experience, you can't tell until you get to the Bank. When I wanted to liquidate my tb from Stanbic bank, after about five days (91 days, 13%), I was told that the buy back rate was between 18.5/19% (which could have included some form of penalty). If I had gone for that, I would have lost all interest and principal would still have been greatly reduced. I am presently waiting for 30 days; which would see me have my full principal back and a very marginal (not up to 10%) portion of original interest. This is even assuming nothing has changed negatively (I.e buyback rate, because formula not clear) when I go back after the 30 days.

maryjay99:

Pls has anyone liquidate a Tb before the maturity date. How is the percentage of the interests that one will forfeit calculated & what is the penalty.

This is because I did a Tb of 2m for 180 days @ 13% rate & which is to mature on 3rd Nov but I liquidated on 24th Oct just 10 days remaining but 61k was deducted from the principal amt . I feel the deduction is too much or is it ok from anyone's experience.


Do you mean 61k was deducted from the 2m that was meant to be returned so instead of recieving 2m; you recieved 1,939,000?

joseph1013:

Idejo Branch, VI, Lagos.

Thanks

joseph1013:
Stanbic secondary rates today

98 days - 16.5%
189 days - 16.55%
273 days - 15.4%

How did you get the rates. Which branch do you use? At the branch close to me, it is a big production to get secondary rates... Mail would be sent out etc etc

slegerman:


If I get you right, you are saying you have 20k on your mutual fund on Friday and on Monday it increases to 22k? If this is what you are saying, then your calculation is wrong. you cannot earn an interest of 1k daily on your mutual fund with that amount.

The amount was an illustration and excludes the principal. I seem to have resolved the issue however by carrying out additional calculations. Thanks a lot.

My balance is 20k on Friday and becomes 22k on Monday at a rate of 1kper day, covering the weekend, but nothing is credited for Monday. How does the crediting work please? It appears a day is being skipped....

Sach:
Hi all, first time terminating a tb beforehand. 91 days purchased at 13.25% October 5th. I am being told that the Tbill would be bought back at a whooping 18.5/19%(asked twice). Does anyone know the basic formula or pattern? Thanks!!

Any guidance please ....

Hi all, first time terminating a tb beforehand. 91 days purchased at 13.25% October 5th. I am being told that the Tbill would be bought back at a whooping 18.5/19%(asked twice). Does anyone know the basic formula or pattern? Thanks!!

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