Ok, to do that, you have to send an email to bamboo telling them you Want the name on your brokerage to match with your BVN and NIN, they will work towards it, a form could be sent to you to fill it with the exact name that matches your BVN and NIN and you summit it back to them, they will now workRead more
Ok, to do that, you have to send an email to bamboo telling them you Want the name on your brokerage to match with your BVN and NIN, they will work towards it, a form could be sent to you to fill it with the exact name that matches your BVN and NIN and you summit it back to them, they will now work towards that.
And also I don’t think there is any issue having a particular user name on your brokerage app as far as, you had provided your NIN and BVN which contains your official identity.
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that's how it's meant to be. CSCS is likened to your bank account number While CHN is likened to your BVN Your shares are not sitting in your stockbroker but in your CSCS For example if you aRead more
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that’s how it’s meant to be.
CSCS is likened to your bank account number
While CHN is likened to your BVN
Your shares are not sitting in your stockbroker but in your CSCS
For example if you are using stockbroker A and Stockbroker B, then you are having issues with stockbroker A, you can transfer your shares from A to B, since it’s one CHN that runs across the two brokers. What you have to do is to email the current broker you want to use currently, that you have shares in Broker A and you provide you CSCS number, if will be verified and find out that it is connected to your CHN which carries your details and information, then Stockbroker B will now discuss with your other Stockbroker A to initiate the transfer of your investments and it will be done within some days.
Now, your second question
Bamboo do not offer Mutual Funds (MMMF)
But cowrywise offer mutual funds, the only thing is that beginners Will not be able to identify mutual funds on cowrywise, when you open cowrywise
You click on invest on the top middle
It will open you to
NG Stocks, Naira mutual funds and dollars mutual funds
You then click on Naira mutual funds
You will see different mutual funds
You can choose conservative portfolio, where your capital is been protected while you earn steady low returns.
But I advise you to choose the one you wish based on your research about it, the fees of each brokers, how you can easily understand and adapt to their User Interface, etc.
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that's how it's meant to be. CSCS is likened to your bank account number While CHN is likened to your BVN Your shares are not sitting in your stockbroker but in your CSCS For example if you aRead more
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that’s how it’s meant to be.
CSCS is likened to your bank account number
While CHN is likened to your BVN
Your shares are not sitting in your stockbroker but in your CSCS
For example if you are using stockbroker A and Stockbroker B, then you are having issues with stockbroker A, you can transfer your shares from A to B, since it’s one CHN that runs across the two brokers. What you have to do is to email the current broker you want to use currently, that you have shares in Broker A and you provide you CSCS number, if will be verified and find out that it is connected to your CHN which carries your details and information, then Stockbroker B will now discuss with your other Stockbroker A to initiate the transfer of your investments and it will be done within some days.
Now, your second question
Bamboo do not offer Mutual Funds (MMMF)
But cowrywise offer mutual funds, the only thing is that beginners Will not be able to identify mutual funds on cowrywise, when you open cowrywise
You click on invest on the top middle
It will open you to
NG Stocks, Naira mutual funds and dollars mutual funds
You then click on Naira mutual funds
You will see different mutual funds
You can choose conservative portfolio, where your capital is been protected while you earn steady low returns.
But I advise you to choose the one you wish based on your research about it, the fees of each brokers, how you can easily understand and adapt to their User Interface.
To invest over ₦50,000,000 in FGN saving bonds Note :the maximum amount to invest in FGN saving bonds is ₦50,000,000 and the minimum is ₦5000, so the Government won't borrow more than ₦50,000,000 from you in FGN saving bonds So to invest you will have to wait for the offer to be declared for investoRead more
To invest over ₦50,000,000 in FGN saving bonds
Note :the maximum amount to invest in FGN saving bonds is ₦50,000,000 and the minimum is ₦5000, so the Government won’t borrow more than ₦50,000,000 from you in FGN saving bonds
So to invest you will have to wait for the offer to be declared for investors who which to buy, it’s no t always available all the time compared to MMMF.
So the easiet way you can invest is to download any stockerage app, that is registered with the SEC. SEC is a body in Nigeria that regulates the capital market, and makes sure capital market operators don’t do any how with investors money.
Example of stockerage (stockbroker) that helps investors buy FGN bonds in Nigeria are
Stanbic IBTC Stocbrokers Limited
Afrinvest Securities Limited
Investnaija by Chapel Hill Debra Funds(I use this one),
Etc.
Any other stockbroker that has FGN saving bonds as far as it is SEC regulated and registered.
You will sign up with the app and provide your accurate details and information in order for your cscs and chn to be activated
Then you transfer funds from your bank account to the stockbroker app when the offer is available you buy it.
It’s a long term investment usually 2-3 years.
For example 2 years may be given at the interest rate of 14% and 3 years at 15%
Let’s, say you invest ₦50,000,000 for 2 years at the rate of 14%, that will be ;
14% of ₦50,000,000 =₦7,000,000
Then the interest of ₦7,000,000 will be paid to you 8 times, that is 4 times a year, for two years is 8 times
Then ₦7,000,000 divided by 8= ₦875,000
You will be receiving ₦875,000 eight times in two years then after the end of the two years your full capital of ₦50,000,000 will be returned back to you.
One nice thing about FGN saving bonds is that it’s tax free and I can’t also be used as a collateral to laon money from a bank if there is no asset to use. Banks even prefer bonds as collateral to landed property because it is easy to withdraw the funds when needed without stressing their staffs.
Incase you don’t want to do it on your own using stockbroker, you can go to o your bank and tell them, they will guide you through and you buy it.
Ok, good evening Treasury bills is you borrowing the government money for a short term (within one year) , the government uses the money to build or finance infrastructure and laters pays you back your money (capital) with interest but a 10% withholding tax will be deducted automatically While CommRead more
Ok, good evening
Treasury bills is you borrowing the government money for a short term (within one year) , the government uses the money to build or finance infrastructure and laters pays you back your money (capital) with interest but a 10% withholding tax will be deducted automatically
While
Commercial papers is you borrowing money to companies not government and it’s for short term always within 6 months
It’s comes with interest rate higher than treasury bills and FGN bonds.
Because you are lending to a company not government, it’s more risky. But that does not mean you shouldn’t invest. And its taxable at 10% withholding tax.
While
FGN bonds is the government borrowing money from you but for a long term usually 2-3 years, and the interest will be paid to you quarterly, 4 times a year till at maturity you will receive your full capital. one thing about FGN bond is that it’s tax free and can also be used as a collateral for loan in the bank
So the positive and negative accompanied is 😊
Firstly, investment comes with risk, without risk, investment is not complete
As for treasury bills is backed with full faith of the federal Republic of Nigeria, the government must to pay you but it has a lower return compared to commercial papers and FGN bond.
While commercial papers, a particular company may not do well after borrowing funds from the public which may cause delay in payments, etc.
FGN bonds comes with a lower return compared to commercial papers, but is backed by the full faith of the federal republic of Nigeria and one important good thing is that, it can be used as a collateral to get loan from the bank if you don’t have a landed property
So if you cannot really take risk, you go for tresurry bills, if you need to preserve you capital while earning steady returns, you go for FGN bonds, but if you can tolerate high risk in order to gain higher returns, you go for commercial papers
Ok When we take about bonds, bond is a type of loan where you loan out to the government for a long term, usually 2 to 3 years, then the interest of the loan will be paid to you quarterly, that's 4 times a year and your interest or your capital is not taxed. While Tresury bills is also the same thinRead more
Ok
When we take about bonds, bond is a type of loan where you loan out to the government for a long term, usually 2 to 3 years, then the interest of the loan will be paid to you quarterly, that’s 4 times a year and your interest or your capital is not taxed.
While
Tresury bills is also the same thing as bond BUT for a short term within 30 days to 365 days and it also incurs a 10% tax from your interest, not your capital.
How Can I Change My Name on Bamboo App to Match My BVN and Bank Account Details?
Ok, to do that, you have to send an email to bamboo telling them you Want the name on your brokerage to match with your BVN and NIN, they will work towards it, a form could be sent to you to fill it with the exact name that matches your BVN and NIN and you summit it back to them, they will now workRead more
Ok, to do that, you have to send an email to bamboo telling them you Want the name on your brokerage to match with your BVN and NIN, they will work towards it, a form could be sent to you to fill it with the exact name that matches your BVN and NIN and you summit it back to them, they will now work towards that.
And also I don’t think there is any issue having a particular user name on your brokerage app as far as, you had provided your NIN and BVN which contains your official identity.
See lessWhy Do I Have Different CSCS Numbers on Bamboo and Cowrywise, and Will It Affect My Investments?
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that's how it's meant to be. CSCS is likened to your bank account number While CHN is likened to your BVN Your shares are not sitting in your stockbroker but in your CSCS For example if you aRead more
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that’s how it’s meant to be.
CSCS is likened to your bank account number
While CHN is likened to your BVN
Your shares are not sitting in your stockbroker but in your CSCS
For example if you are using stockbroker A and Stockbroker B, then you are having issues with stockbroker A, you can transfer your shares from A to B, since it’s one CHN that runs across the two brokers. What you have to do is to email the current broker you want to use currently, that you have shares in Broker A and you provide you CSCS number, if will be verified and find out that it is connected to your CHN which carries your details and information, then Stockbroker B will now discuss with your other Stockbroker A to initiate the transfer of your investments and it will be done within some days.
Now, your second question
Bamboo do not offer Mutual Funds (MMMF)
But cowrywise offer mutual funds, the only thing is that beginners Will not be able to identify mutual funds on cowrywise, when you open cowrywise
You click on invest on the top middle
It will open you to
NG Stocks, Naira mutual funds and dollars mutual funds
You then click on Naira mutual funds
You will see different mutual funds
You can choose conservative portfolio, where your capital is been protected while you earn steady low returns.
But I advise you to choose the one you wish based on your research about it, the fees of each brokers, how you can easily understand and adapt to their User Interface, etc.
See lessWhy Do I Have Different CSCS Numbers on Bamboo and Cowrywise, and Will It Affect My Investments?
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that's how it's meant to be. CSCS is likened to your bank account number While CHN is likened to your BVN Your shares are not sitting in your stockbroker but in your CSCS For example if you aRead more
Having 2 different CSCS and one CHN across bamboo and cowrywise does not affect your investments in any way, that’s how it’s meant to be.
CSCS is likened to your bank account number
While CHN is likened to your BVN
Your shares are not sitting in your stockbroker but in your CSCS
For example if you are using stockbroker A and Stockbroker B, then you are having issues with stockbroker A, you can transfer your shares from A to B, since it’s one CHN that runs across the two brokers. What you have to do is to email the current broker you want to use currently, that you have shares in Broker A and you provide you CSCS number, if will be verified and find out that it is connected to your CHN which carries your details and information, then Stockbroker B will now discuss with your other Stockbroker A to initiate the transfer of your investments and it will be done within some days.
Now, your second question
Bamboo do not offer Mutual Funds (MMMF)
But cowrywise offer mutual funds, the only thing is that beginners Will not be able to identify mutual funds on cowrywise, when you open cowrywise
You click on invest on the top middle
It will open you to
NG Stocks, Naira mutual funds and dollars mutual funds
You then click on Naira mutual funds
You will see different mutual funds
You can choose conservative portfolio, where your capital is been protected while you earn steady low returns.
But I advise you to choose the one you wish based on your research about it, the fees of each brokers, how you can easily understand and adapt to their User Interface.
See lessHow Can I Invest Over ₦50 Million in Federal Government Bonds in Nigeria?
To invest over ₦50,000,000 in FGN saving bonds Note :the maximum amount to invest in FGN saving bonds is ₦50,000,000 and the minimum is ₦5000, so the Government won't borrow more than ₦50,000,000 from you in FGN saving bonds So to invest you will have to wait for the offer to be declared for investoRead more
To invest over ₦50,000,000 in FGN saving bonds
Note :the maximum amount to invest in FGN saving bonds is ₦50,000,000 and the minimum is ₦5000, so the Government won’t borrow more than ₦50,000,000 from you in FGN saving bonds
So to invest you will have to wait for the offer to be declared for investors who which to buy, it’s no t always available all the time compared to MMMF.
So the easiet way you can invest is to download any stockerage app, that is registered with the SEC. SEC is a body in Nigeria that regulates the capital market, and makes sure capital market operators don’t do any how with investors money.
Example of stockerage (stockbroker) that helps investors buy FGN bonds in Nigeria are
Stanbic IBTC Stocbrokers Limited
Afrinvest Securities Limited
Investnaija by Chapel Hill Debra Funds(I use this one),
Etc.
Any other stockbroker that has FGN saving bonds as far as it is SEC regulated and registered.
You will sign up with the app and provide your accurate details and information in order for your cscs and chn to be activated
Then you transfer funds from your bank account to the stockbroker app when the offer is available you buy it.
It’s a long term investment usually 2-3 years.
For example 2 years may be given at the interest rate of 14% and 3 years at 15%
Let’s, say you invest ₦50,000,000 for 2 years at the rate of 14%, that will be ;
14% of ₦50,000,000 =₦7,000,000
Then the interest of ₦7,000,000 will be paid to you 8 times, that is 4 times a year, for two years is 8 times
Then ₦7,000,000 divided by 8= ₦875,000
You will be receiving ₦875,000 eight times in two years then after the end of the two years your full capital of ₦50,000,000 will be returned back to you.
One nice thing about FGN saving bonds is that it’s tax free and I can’t also be used as a collateral to laon money from a bank if there is no asset to use. Banks even prefer bonds as collateral to landed property because it is easy to withdraw the funds when needed without stressing their staffs.
Incase you don’t want to do it on your own using stockbroker, you can go to o your bank and tell them, they will guide you through and you buy it.
See lessWhat Is the Difference Between Treasury Bills, Commercial Papers, and FGN Bonds?
Ok, good evening Treasury bills is you borrowing the government money for a short term (within one year) , the government uses the money to build or finance infrastructure and laters pays you back your money (capital) with interest but a 10% withholding tax will be deducted automatically While CommRead more
Ok, good evening
Treasury bills is you borrowing the government money for a short term (within one year) , the government uses the money to build or finance infrastructure and laters pays you back your money (capital) with interest but a 10% withholding tax will be deducted automatically
While
Commercial papers is you borrowing money to companies not government and it’s for short term always within 6 months
It’s comes with interest rate higher than treasury bills and FGN bonds.
Because you are lending to a company not government, it’s more risky. But that does not mean you shouldn’t invest. And its taxable at 10% withholding tax.
While
So the positive and negative accompanied is 😊
Firstly, investment comes with risk, without risk, investment is not complete
As for treasury bills is backed with full faith of the federal Republic of Nigeria, the government must to pay you but it has a lower return compared to commercial papers and FGN bond.
While commercial papers, a particular company may not do well after borrowing funds from the public which may cause delay in payments, etc.
FGN bonds comes with a lower return compared to commercial papers, but is backed by the full faith of the federal republic of Nigeria and one important good thing is that, it can be used as a collateral to get loan from the bank if you don’t have a landed property
So if you cannot really take risk, you go for tresurry bills, if you need to preserve you capital while earning steady returns, you go for FGN bonds, but if you can tolerate high risk in order to gain higher returns, you go for commercial papers
Thank you.
See lessWhat Is the Difference Between Bonds and Treasury Bills in Nigeria?
Ok When we take about bonds, bond is a type of loan where you loan out to the government for a long term, usually 2 to 3 years, then the interest of the loan will be paid to you quarterly, that's 4 times a year and your interest or your capital is not taxed. While Tresury bills is also the same thinRead more
Ok
When we take about bonds, bond is a type of loan where you loan out to the government for a long term, usually 2 to 3 years, then the interest of the loan will be paid to you quarterly, that’s 4 times a year and your interest or your capital is not taxed.
While
Tresury bills is also the same thing as bond BUT for a short term within 30 days to 365 days and it also incurs a 10% tax from your interest, not your capital.
See less