bright_edge:

Thanks for the clarification. About my second question, I didn't read the rates properly, higher tenors have slightly higher rates.

Yes. The longer the duration, the higher the interest rate. But the difference is not so significant. I prefer to "roll over" my investment.

That means, I fix for 90days, add the supposed interest to the capital and re-bid again. For example, I fix 1M for 30days at a rate of 10%, that's about 25k. I add the 25k (and any other extra money I might have gathered within that 90days) to the 1M at the end of the tenor and refix again.

The interest rate is low but it still remains the safest "passive" investment one can involve in. Sorry, I'm not such a big risk taker.

@betty. The fellow bought from the secondary market.hence the discrepancy.

bettymafy:

Yes. The longer the duration, the higher the interest rate. But the difference is not so significant. I prefer to "roll over" my investment.

That means, I fix for 90days, add the supposed interest to the capital and re-bid again. For example, I fix 1M for 30days at a rate of 10%, that's about 25k. I add the 25k (and any other extra money I might have gathered within that 90days) to the 1M at the end of the tenor and refix again.

The interest rate is low but it still remains the safest "passive" investment one can involve in. Sorry, I'm not such a big risk taker.

collinsobinna: @betty. The fellow bought from the secondary market.hence the discrepancy.

Thanks for clearing that up. I know little or nothing about the secondary market, can you enlighten me? How does it differ from the primary market? Which is more profitable on the long run?

bettymafy:

Are u for real? I'm surprised ooo. Does that mean that some banks offer a different package from others? Did u bid by yourself, or the bank did? Did u see the 86day option on the form u filled? I've never seen any duration less than 90days on that form.

Maybe CBN just decided to offer 86 days at that period. Will get more info during my next bid. Thanks.

And for the amount, I'm sure one can't bid with less than 1M. You can also confirm from your account officer.

Yep, the bank did the bidding for me and I already have the certificate stating 86 days. A day before, I was informed it was 41 days that was available,only to be told the next day that the current one available is 86 days.
Though I must confess that you're well grounded about the NTB investment.
Well done dear...

Onye oma:

Yep, the bank did the bidding for me and I already have the certificate stating 86 days. A day before, I was informed it was 41 days that was available,only to be told the next day that the current one available is 86 days.
Though I must confess that you're well grounded about the NTB investment.
Well done dear...

Weldone too. I need to learn more about this Secondary market ooo. I'm beginning to like it. . .

bettymafy:

Weldone too. I need to learn more about this Secondary market ooo. I'm beginning to like it. . .

Don't really know much about it, all I did was just to write a letter of application for NTB investment (after an interaction with the BSM and AO) and indicate the duration and rate I was informed,as well as fill the withdrawal instrument and the certificate was ready in 3 days...

Onye oma:

Don't really know much about it, all I did was just to write a letter of application for NTB investment (after an interaction with the BSM and AO) and indicate the duration and rate I was informed,as well as fill the withdrawal instrument and the certificate was ready in 3 days...

Oh yeah? I'm thinking yours was secondary market cos of the flexibility of duration and the letter of application.

In the primary market (atleast for the bank I use, Zenith bank), u really don't need to write a letter of application. All u need do is fill a form that will be given to u at the bank. The form has all the info needed, so u just tick the correct boxes. The only info u need to write out is your name and the exact amount which is always indicated to not be less than 1M.

Will try and garner more info as regards the different investment packages under NTB.

Thanks again.

bettymafy:

Oh yeah? I'm thinking yours was secondary market cos of the flexibility of duration and the letter of application.

In the primary market (atleast for the bank I use, Zenith bank), u really don't need to write a letter of application. All u need do is fill a form that will be given to u at the bank. The form has all the info needed, so u just tick the correct boxes. The only info u need to write out is your name and the exact amount which is always indicated to not be less than 1M.

Will try and garner more info as regards the different investment packages under NTB.

Thanks again.

Very welcome...
And I'm still willing to learn more...

euphoria:

With GTBank, you can't do interbank transfer from a Savings account.

Hello... Please say what you know... This is blasphemy..

FYI
You can do neft transfer from your savings account in gtbank to any bank.. But cannot do an instant transfer.
Keyword is instant and NEFT

Let me say u guys r blessed 4 dis info & interestin contributions.

Pls can any1 enlighten d house on 'TOKEN': hw it works & hw 2 go abt it.

Tks in adv.

bettymafy: Some people have given valuable info concerning TB. Just to add. . . The least amount of money that can be used to buy treasury bills is #1,000,000 and the least duration is 90days.

You definitely can invest less than N1 million. The attached was done with GT Bank in May. If you already have an account opened with one of the Banks and have a very proactive account officer you should be able to buy Tbills from abroad but in a country like Nigeria it will be extremely difficult. I went to Lagos in May specifically to buy Tbills and even with me on ground it was so so difficult. The saving grace was a wonderful banker from GT head office who took ownership of my case and made my trip successful. Even at that, the bulk of my Tbills purchase was done through my sister's account.

There were so many unexpected challenges. From banks telling you that you cant pay more than N500,000 into your account per day to some banks (First Bank) telling you they will only help buy 91 day bills at their own rate. You must be prepared.

euphoria:

With GTBank, you can't do interbank transfer from a Savings account.

That's a lie..contact customa servc

yogun:

Who says?

U sure can transfer moni to gtbank n oda banks from your savings acct. U need to be physically present, das all

No u don't v to b present,
A token, online acct on gtbank.com and an internet connectivity will do

afinic001:

You can do any of them. Rates on TBz is higher but you can not terminate it until maturity. For the booking, the next bidding date is july twenty fourth. You can call the 'contact centre' of your bank to give your instruction, they will then relay your instruction to your account officer so that it could be treated.

I hope this helps.

Wich bank

pappilo:



You definitely can invest less than N1 million. The attached was done with GT Bank in May. If you already have an account opened with one of the Banks and have a very proactive account officer you should be able to buy Tbills from abroad but in a country like Nigeria it will be extremely difficult. I went to Lagos in May specifically to buy Tbills and even with me on ground it was so so difficult. The saving grace was a wonderful banker from GT head office who took ownership of my case and made my trip successful. Even at that, the bulk of my Tbills purchase was done through my sister's account.

There were so many unexpected challenges. From banks telling you that you cant pay more than N500,000 into your account per day to some banks (First Bank) telling you they will only help buy 91 day bills at their own rate. You must be prepared.

do u mean i cant buy NTB of a 100,000 naira in the secondary market pls i dnt understand explain. Thanks

hrmgr: well there are good finance houses that will give you great interest in fixed deposit up to 15% depending on the tenor.

Example of those financial houses pls

Hi there,

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