NewStats: 3,265,380 , 8,186,564 topics. Date: Saturday, 14 June 2025 at 05:26 PM 54d8

Akerewe:
thanks for your swift response phyde but this is the number that was sent to me from stanbic bank *

Number -0035763997
Name- SISL/FGN SOVEREIGN SUKUK OFFER 2020
Bank Name- Stanbic IBTC Bank Plc*


Please
Great investors in the house, kindly help me which one is genuine between the two and why there is different in what I received from what phyde sent.
Thanks in anticipation

The posted by Phyde is what is on the official (answers to frequently asked questions) pdf package of FGN Sovereign Sukuk 3. So I will take that to be the authentic one. For further confirmation, you can try to very the details through your Mobile App.


MODIFIED:

The posted by Phyde is the one from FGN where you can invest direct on your while the other accout from Stanbic IBTC is that of StanbicIBTCStockbrokers Limited where you can send the money to if you want to invest through them.

JavaSQL:
The one Stanbic sent you seems to be the Investment for the SUKUK Bond 2020 while the one he sent to you is SUKUK ISSUE PROCEEDS 3 - seems to be a sukuk interest payment acccount.

what is the different between the two because I cannot understand. Kindly expatiate pls

Akerewe:
what is the different between the two because I cannot understand. Kindly expatiate pls

Read the sukuk FAQs on the website of Lotus Capital as shared by someone earlier.

Akerewe:
thanks for your swift response phyde but this is the number that was sent to me from stanbic bank *

Number -0035763997
Name- SISL/FGN SOVEREIGN SUKUK OFFER 2020
Bank Name- Stanbic IBTC Bank Plc*


Please
Great investors in the house, kindly help me which one is genuine between the two and why there is different in what I received from what phyde sent.
Thanks in anticipation

What the sent you is the same as what they sent me. So i suggest you make use of what they sent you.

See what they sent me below:

Dear Sir



We acknowledge receipt of your mail.



Kindly fill the attached application form with their CSCS details and send us a clear scanned copy with evidence of payment into the details below.



Number -0035763997

Name- SISL/FGN SOVEREIGN SUKUK OFFER 2020

Bank Name- Stanbic IBTC Bank Plc



If you do not have a CSCS and you wish to open one with us , please fill the attached stockbroking opening forms and forward to us along with the following ing documents:



Valid means of identification -original sighted at the nearest Stanbic bank branch and a copy forwarded to us
Current utility bill within 3months showing their name and address- original sighted at the nearest Stanbic bank branch and a copy forwarded to us
port photograph


Minimum Subscription Amount for each applicant N10,000 and in multiples of N1,000 thereafter



Thank you and do keep safe.

Please does a bond investor usually got his cash back within 48 hours of filing for liquidation?

Now that countries are easing the lockdown,do you think crude price will remain thesame which will make Naira to remian in 400s?

Theconglomerate:
I doubt if this will happen though.
Rates dropped between yesterday and today because MPC held today so speculators and BDCs operators were not buying or were skeptical.
So till we know what was decided in the meeting today we won't know for sure.
CBN also said it will sell forex to BDCs only for "strategic imports".
Sounds like a very complicated way of saying we will only release very minimal amount of dollars that still will have very minimal effect on fx pricing.
It's like dollar in the 400s is the new reality,hard truth.
But its good as it will help Nigeria boost local productivity as imported goods will become too expensive for the masses.

ojesymsym:
MPR is now 12.5%, what are the implications?

Banks can now review the interest rate on their savings to a min of 3.75%.

JavaSQL:
Guys this Buhari/Osibanjo campaign just reminded me of the possible outcome of long term investments.
5 years ago dollar here was at N216/$, now dollar is N440/$.

Does it mean in 5 years time dollar could be N880/$.
That means if you convert and invest N5m ~ $11,111 in Sukuk bond, after 5 years interest on 5 years will be N2.8m then reconvert capital + interest to USD i.e N7.8m/N880 = $8,863.

It will feel like I swallowed my pride after 5 years.

The bond is guaranteed while the dollar exchange rate is speculation. You do not try to mix the two in this case.

You have also assumed that the proceeds from sukuk is kept in a safe every 6 months and waiting to pile them up for 7 years. Investors do not think this way. They will reinvest the proceeds in other portfolios or income generators so as to compound it. Similarly, you also need to invest the dollar too and see what happens in 7 years. Dollar may come out better and if the naira proceed goes into some juicy stocks that happen to out perform better than expected, then it will be another story. but my argument is that your mode of comparison is not proper

olujaidi:


Read the sukuk FAQs on the website of Lotus Capital as shared by someone earlier.

Fola Adeola's Lotus capital has an online form for this Sukuk that seems to be very easy.

Someone who invested $ will also make profit and compound.

unite4real:


The bond is guaranteed while the dollar exchange rate is speculation. You do not try to mix the two in this case.

You have also assumed that the proceeds from sukuk is kept in a safe every 6 months and waiting to pile them up for 7 years. Investors do not think this way. They will reinvest the proceeds in other portfolios or income generators so as to compound it. Similarly, you also need to invest the dollar too and see what happens in 7 years. Dollar may come out better and if the naira proceed goes into some juicy stocks that happen to out perform better than expected, then it will be another story. but my argument is that your mode of comparison is not proper

XiaoLi:
Someone who invested $ will also make profit and compound.

Read my post again where I said dollar may come out better. It's just not a guarantee that it will

Check Naira rate to dollar for the last 14years, you will find out that it is guaranteed that someone who invested in $ will definately come out better.

unite4real:


Read my post again where I said dollar may come out better. It's just not a guarantee that it will

XiaoLi:
I just put a call to my Aboki, he said rate yesterday was 450 but they expect to get $ from CBN by next week or 2 weeks later so the rate will drop in few weeks to come, he advised anybody buying $ now should pause except if really necessary. Hope this thing goes down soon.

Where will CBN get the dollars from? We aren't earning from export recently and if they have to tamper on reserve or elsewhere to supply the fx market, it will further crumble the financial sector as exposed to international settlement.

They should just allow the naria 'a free flow' to find her bearing, then we can know its exact value in international market rather than 'packaging' it to save shame.

From there the apex bank and other related MDAs will buck up and face the reality.

XiaoLi:
Now that countries are easing the lockdown,do you think crude price will remain thesame which will make Naira to remian in 400s?

No one can give an exact answer to this,sad truth.
But then,its like the CBN is bent on doing a controlled float of her currency.
Even if oil hits 100 dollars,if the CBN don't intervene in the fx markets,nothing will happen to currency pricing and a lot of things are pointing to the fact that Nigeria is getting tired of paying subsidy on its currency in the name of intervention.
Reasons why I think the CBN and Buhari is tired of interventions;

1)MPC held yesterday in a critical time as this for fx and no one talked about any intervention on it,all they did was reduce lending rate(naira power play).

2)CBN said some weeks back that it will supply fx to BDCs only for "strategic imports".This is a very big word and can mean a lot of things.

3)CBN called on manufacturers to beef up their activities and promised to supply fx for imports of raw material and machinery,meaning the days of subsidised dollars for the imports of just about anything is over.
If you want to import rubbish,be ready to pay the price of fx gotten via very hard means
And the importers of general merchandise won't stop business because CBN no give them dollar,so they will turn to black market and overheat it,keeping the price of fx in the 400s.
Well,let's see....

Nice one tomati seller, at the bolded don't you think it will make the prices of goods to increase which will force CBN to intervene

Theconglomerate:
No one can give an exact answer to this,sad truth.
But then,its like the CBN is bent on doing a controlled float of her currency.
Even if oil hits 100 dollars,if the CBN don't intervene in the fx markets,nothing will happen to currency pricing and a lot of things are pointing to the fact that Nigeria is getting tired of paying subsidy on its currency in the name of intervention.
Reasons why I think the CBN and Buhari is tired of interventions;

1)MPC held yesterday in a critical time as this for fx and no one talked about any intervention on it,all they did was reduce lending rate(naira power play).

2)CBN said some weeks back that it will supply fx to BDCs only for "strategic imports".This is a very big word and can mean a lot of things.

3)CBN called on manufacturers to beef up their activities and promised to supply fx for imports of raw material and machinery,meaning the days of subsidised dollars for the imports of just about anything is over.
If you want to import rubbish,be ready to pay the price of fx gotten via very hard means
And the importers of general merchandise won't stop business because CBN no give them dollar,so they will turn to black market and overheat it,keeping the price of fx in the 400s.
Well,let's see....

XiaoLi:
Nice one tomati seller, at the bolded don't you think it will make the prices of goods to increase which will force CBN to intervene

The message should be clear to the masses.
Either buy Nigeria and grow the naira or buy imports and plunder your pockets,savings and pensions.
I think it's high time to ignore the masses and forget politics for once so as to build Nigeria and the naira.
Only an expensive fx can do that in our situation.

XiaoLi:
Nice one tomati seller, at the bolded don't you think it will make the prices of goods to increase which will force CBN to intervene

The prices of goods would msot definitely increase.

Would CBN intervene? Nobody knows.

[quote author=wura2u post=90019014][/quote]
Goodday
Pls wat happens when I decide to opt out of the Suku bond after a year or two?

pepper247:

Goodday
Pls wat happens when I decide to opt out of the Suku bond after a year or two?

Nothing, you may gain or you may lose it will be determined by demand and supply in the secondary market. Probability of gaining is 80%


I will advise you to buy money market funds

Grupo:


The prices of goods would msot definitely increase.

Would CBN intervene? Nobody knows.

If they have more dollars, CBN will most probably intervene.
The problem is that our major sources of dollars have been impacted negatively....... From low oil price to reduced remittance from Nigerians in diaspora and FPI.

Akerewe:
thanks for your swift response phyde but this is the number that was sent to me from stanbic bank *

Number -0035763997
Name- SISL/FGN SOVEREIGN SUKUK OFFER 2020
Bank Name- Stanbic IBTC Bank Plc*


Please
Great investors in the house, kindly help me which one is genuine between the two and why there is different in what I received from what phyde sent.
Thanks in anticipation

I think you can still use the bolded if you want to invest through Stanbicbroker.

I just paid into this Stanbic now 0022373451 name is FGN ROADs SUKUK ISSUE PROCEEDS. I sent the form and payment slip to invests lotus capital limited.com.

Hope am good to go? please if there's anything I didn't get right, you people should let me know.

Yes. But u need to pay consulation fees to some of us here.

Mills55:
I just paid into this Stanbic now 0022373451 name is FGN ROADs SUKUK ISSUE PROCEEDS. I sent the form and payment slip to invests lotus capital limited.com.

Hope am good to go? please if there's anything I didn't get right, you people should let me know.

I sent a mail to [email protected]

Mills55:
I just paid into this Stanbic now 0022373451 name is FGN ROADs SUKUK ISSUE PROCEEDS. I sent the form and payment slip to invests lotus capital limited.com.

Hope am good to go? please if there's anything I didn't get right, you people should let me know.

Should be to [email protected]

Phyde:

I think you can still use the bolded if you want to invest through Stanbicbroker.

Thanks a lot phyde for your undiluted , I later mail them and I was told that both are genuine both they belongs to different entity within stanbic holdings. While my own belongs to stanbic stockbroker your own belongs to stanbic capital market.
Please how do you guys move huge funds through stanbic internet banking as I think the minimum per day is 1million. How can someone increase the daily limit?
Please how much is the stanbic stockbroker charges on a million for this ongoing sukuk bond?

unite4real:


Should be to [email protected]

I will resend it to this address you provided now. Hope my payment went to the right ? thanks so much.

Akerewe:

Thanks a lot phyde for your undiluted , I later mail them and I was told that both are genuine both they belongs to different entity within stanbic holdings. While my own belongs to stanbic stockbroker your own belongs to stanbic capital market.
Please how do you guys move huge funds through stanbic internet banking as I think the minimum per day is 1million. How can someone increase the daily limit?
Please how much is the stanbic stockbroker charges on a million for this ongoing sukuk bond?

Commissions are paid by FG

Mills55:


I will resend it to this address you provided now. Hope my payment went to the right ? thanks so much.

I think ur money don enter voice mail. I hope u have been following our discussions on this matter. Where did u dig up that number from. It looks like the for the first sukuk in 2017. They have different for every issue. The current one is called FGN ROAD SUKUK ISSUE 3.

if the you paid to didn't have issue 3, then it's wrong . Although na government still get that , I don't know how easy you will solve this problem.
Maybe lotus will help to access it. I hope so

Akerewe:

Thanks a lot phyde for your undiluted , I later mail them and I was told that both are genuine both they belongs to different entity within stanbic holdings. While my own belongs to stanbic stockbroker your own belongs to stanbic capital market.
Please how do you guys move huge funds through stanbic internet banking as I think the minimum per day is 1million. How can someone increase the daily limit?
Please how much is the stanbic stockbroker charges on a million for this ongoing sukuk bond?

I have tried the mobile app and website to see if there is option to set my transfer limit. I did not succeed so, i decided to split my payments and save the receipts/transfer. You may need to visit the bank or still try to send mail, asking if it can be possible to set it online due to skeletal service they are offering now.

Rate this days eh.