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Chapter twenty-one.

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Musa decides to cash in some of his units.

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His card shows 600 units worth ₦612,000 at the new NAV of ₦1,020.

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His dividend of ₦11,400 net is listed as paid.

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He selects Redeem units and asks to redeem 100.

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The price is the NAV in force today.

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His request shows 100 units at ₦1,020: ₦102,000, with no withholding tax.

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It must be paid by the fourth of November, seven working days away.

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While it is still requested, he could withdraw it.

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He is notified, and the scheme administrators are told a redemption must be settled by that date.

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If a redemption is not paid by its date, DFFMS escalates it automatically:

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first to the Programme Administrator, then, three working days later, to the Client System Administrator.

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Everyone involved is notified at each step.

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An administrator can also escalate by hand at any time.

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Ibrahim opens the Redemptions tab and sees Musa's request, the amount to pay, and the due date.

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He wants the custodian to confirm cash is available, so he escalates it now, with a reason.

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The escalation panel records who raised it and why.

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Once the custodian confirms, he approves the redemption.

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Funmilayo is told the payout is due.

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Funmilayo records the payout with the custodian's payment reference.

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It waits for approval.

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Yusuf approves it in Transactions.

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The redemption is paid, the 100 units are cancelled, and the escalation closes by itself.

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Musa is notified and now holds 500 units.