NewStats: 3,262,920 , 8,178,520 topics. Date: Wednesday, 04 June 2025 at 04:55 AM 6a123q

NL1960:


The calculation is correct. Interest rate is per year and not per month.

The formula for simple interest is:

I = PTR/365 or 366 depending on whether it is a leap year or not (no ask me wetin be leap year o)

where:

P = Principal = N500,000

T = Time = 30 days

R = Rate = 5% = 5/100 = 0.05

Therefore:

I = (500,000 * 30 * 0.05 )/365 = 750,000 / 365 = 2054.794520547945 = 2,054.79. QED

When dem dey teach Simple Interest for mathematics class for school, na people like you go dey make noise, dey make fun of teacher and be asking the teacher wetin dem go use am do for future. You can now see the usefulness. .

aigoooo

Who is interested in knowing how MMF funds are determined?
Here you have it

Meanwhile, Business Post reports that the average money market rate broadly increased by 9.6 percent on Friday to settle at 21.68 percent.

While the Open Buy Back (OBB) went up to 20.86 percent from 11.67 percent, the Overnight (OVN) rose to 22.50 percent from 12.58 percent.

So expect higher MMF rates this week. Lets see how much they will pay from the 21.68% they made.
We can compare what we got from our investment managers.
https://www.businesspost.ng/2018/10/06/liquidity-squeeze-triggers-0-15-hike-in-t-bills-yields/

jpphilips:
Who is interested in knowing how MMF funds are determined?
Here you have it




So expect higher MMF rates this week. Lets see how much they will pay from the 21.68% they made.
We can compare what we got from our investment managers.
https://www.businesspost.ng/2018/10/06/liquidity-squeeze-triggers-0-15-hike-in-t-bills-yields/

You are getting it all wrong

Pr0cter:


Yeah. I also got their text and email this morning. To me, their rate aren't very good. I stand to be corrected. Though I didnt invest much fund in their MMF

What is their rate like?

eanestca:


You are getting it all wrong

I hope so, please tell us how MMf rates are determined.

jpphilips:
Who is interested in knowing how MMF funds are determined?
Here you have it




So expect higher MMF rates this week. Lets see how much they will pay from the 21.68% they made.
We can compare what we got from our investment managers.
https://www.businesspost.ng/2018/10/06/liquidity-squeeze-triggers-0-15-hike-in-t-bills-yields/

Invest with Ecobank...
Dem try..
Fixed Income Fund..

Buffalowings3:
Invest with Ecobank...
Dem try..
Fixed Income Fund..

Enlighten us on this

Pr0cter:



Enlighten us on this

A unit price for FIF 2 years ago was 1000
Now it is 1400.

TB doesn't come close..

Buffalowings3:


A unit price for FIF 2 years ago was 1000
Now it is 1400.

TB doesn't come close..

Continue... sounds interesting

Please i would like to know about updated procedures of ibtc mutual fund
Like minimum amount needed to invest

Please for those using Stanbic, how do you see your daily gains and when(time) is it added to the NAV( net asset value).
I went to the bank on the 2/10/18 and subscribed for their money market, on the 9th, I get a subscription initiation message so I went to the bank yesterday the 10th to get the online access and since then, the money just stand at attention.
Did it have to take one full week after debiting my to initiate the move? I kept calm because someone complained here before and he was told to calm down that his money is growing but mine did not grow
Experienced guys please help me understand better.

Apitch:
Please for those using Stanbic, how do you see your daily gains and when(time) is it added to the NAV( net asset value).
I went to the bank on the 2/10/18 and subscribed for their money market, on the 9th, I get a subscription initiation message so I went to the bank yesterday the 10th to get the online access and since then, the money just stand at attention.
Did it have to take one full week after debiting my to initiate the move? I kept calm because someone complained here before and he was told to calm down that his money is growing but mine did not grow
Experienced guys please help me understand better.

the app, input ur data or information if u hv them and u are gud to go

Apitch:
Please for those using Stanbic, how do you see your daily gains and when(time) is it added to the NAV( net asset value).
I went to the bank on the 2/10/18 and subscribed for their money market, on the 9th, I get a subscription initiation message so I went to the bank yesterday the 10th to get the online access and since then, the money just stand at attention.
Did it have to take one full week after debiting my to initiate the move? I kept calm because someone complained here before and he was told to calm down that his money is growing but mine did not grow
Experienced guys please help me understand better.

Yeah. I was the one that complained earlier, but it's been sorted out. All you need to do is just to stanbic ibtc mobile app from play store and with your email, phone number and . You'll then see your NAV and your accrued interest

Pr0cter:



Yeah. I was the one that complained earlier, but it's been sorted out. All you need to do is just to stanbic ibtc mobile app from play store and with your email, phone number and . You'll then see your NAV and your accrued interest

It doesn't work with the app. But works well through browsers but never on the app, I view my normal detail on the app but when I try to on the mutual fund, I get an error message
Again my first complaint is that they took a whole week before treating my request, even when I was deducted the same day. E pain me small o but all is well

Apitch:

It doesn't work with the app. But works well through browsers but never on the app, I view my normal detail on the app but when I try to on the mutual fund, I get an error message
Again my first complaint is that they took a whole week before treating my request, even when I was deducted the same day. E pain me small o but all is well

Perhaps you should visit them at their office on Monday and tender your complain

Please is it normal for mutual funds not to grow on Saturday and Sundays or is it a Stanbic thing.

Yes, it is normal. You will get your weekend payment by Monday as par AXA Mansard.

Apitch:
Please is it normal for mutual funds not to grow on Saturday and Sundays or is it a Stanbic thing.

Apitch:
Please is it normal for mutual funds not to grow on Saturday and Sundays or is it a Stanbic thing.

It’s very normal. Saturdays, sundays and public holidays
It’s growing , but everything will be added together on Monday . And it will reflect on Monday.

elothaddi:
Yes, it is normal. You will get your weekend payment by Monday as par AXA Mansard.

Olohunjedalo:

It’s very normal. Saturdays, sundays and public holidays
It’s growing , but everything will be added together on Monday . And it will reflect on Monday.

Thanks guys

I learnt alot from this group but i'm at a crossroad right now.... I have MMF with Stanbic for sure which i have over 100 in it and i also just opened another MMF with Axa Mansard.... Now i have 760 but i don't know which of the MMF is advisable for me to put the money into. Kindly help your brother on this. Thanks.

emmas2k570:
I learnt alot from this group but i'm at a crossroad right now.... I have MMF with Stanbic for sure which i have over 100 in it and i also just opened another MMF with Axa Mansard.... Now i have 760 but i don't know which of the MMF is advisable for me to put the money into. Kindly help your brother on this. Thanks.

Please make I send my bank nah .. !!

emmas2k570:
I learnt alot from this group but i'm at a crossroad right now.... I have MMF with Stanbic for sure which i have over 100 in it and i also just opened another MMF with Axa Mansard.... Now i have 760 but i don't know which of the MMF is advisable for me to put the money into. Kindly help your brother on this. Thanks.

Divide the money in such a way that they would both be equal, then you monitor and know which is better among the two in of rates

https://www.businesspost.ng/2018/10/16/one-year-t-bills-shed-0-08-as-money-market-rates-jump-to-42-12/

Meanwhile, in line with expectations, the average money market rates broadly skyrocketed yesterday by 22.67 percent to settle for the day at 42.13 percent.

This was buoyed by the 20.75 percent increase recorded by the Open Buy Back (OBB) rate and the 24.58 percent rise in the Overnight (OVN) rate.

Business Post reports that while the OBB rate jumped to 39.92 percent from 19.17 percent, the OVN rate jumped to 44.33 percent from 19.75 percent.

@philips, what is the implications of this on the mutual funds?

Apitch:

Divide the money in such a way that they would both be equal, then you monitor and know which is better among the two in of rates

I did similar with ARM and AXA with 100k each.

Interest of AXA is twice that of ARM within a month. I closed my ARM, to use only AXA.

I recommend AXA.

KayPapi:


I did similar with ARM and AXA with 100k each.

Interest of AXA is twice that of ARM within a month. I closed my ARM, to use only AXA.

I recommend AXA.

One other thing I like about AXA is that you can liquidate your funds anytime you want.

How do I liquidate my funds from stanbic ibtc. Getting a response that the minimum of 5000 naira would be retained as I tried redeeming online, I wanna finally settle for AXA Mansard. Any helpful response would be greatly appreciated.

Etimocracy:
How do I liquidate my funds from stanbic ibtc. Getting a response that the minimum of 5000 naira would be retained as I tried redeeming online, I wanna finally settle for AXA Mansard. Any helpful response would be greatly appreciated.

Type every figure you see including kobo

Yem0350:

Type every figure you see including kobo

I advise you stay with stanbic. You don't need to liquidate your holding in stanbic for AXA. The difference doesn't worth it. Secondly the rates fluctuate. It cld be stanbic higher than AXA tmrrow. You can run both by splitting your subsequent stakes or inflows. I have both hence my advice. Hope you find this useful.

hias2012:


I advise you stay with stanbic. You don't need to liquidate your holding in stanbic for AXA. The difference doesn't worth it. Secondly the rates fluctuate. It cld be stanbic higher than AXA tmrrow. You can run both by splitting your subsequent stakes or inflows. I have both hence my advice. Hope you find this useful.

I'll stick to your advice. Thanks for the prompt response

KayPapi:


I did similar with ARM and AXA with 100k each.

Interest of AXA is twice that of ARM within a month. I closed my ARM, to use only AXA.

I recommend AXA.

Are you sure about this? i have ARm and Axa also but i have monitored this week and observed that i get about 22% on ARM while i get 11.8% averagely on Axa. IONE gave 12% averagely