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Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by olujaidi: 7:06am On Jul 24, 2016 |
Danfuster: Personally, no. However, it would appear she does: ummitoagirl: |
Re: Treasury Bills In Nigeria by Danfuster(m): 7:33am On Jul 24, 2016 |
olujaidi: thanks man, you've been really helpful. I sent you a pm, still waiting for you to reciprocate |
Re: Treasury Bills In Nigeria by olujaidi: 8:11am On Jul 24, 2016 |
Danfuster: This is all i got "Hello olujaidi, Danfuster would like to send you an email message, but since you're not connected, you'll need to contact Danfuster by replying this email." And I replied |
Re: Treasury Bills In Nigeria by freeman67: 8:59am On Jul 24, 2016 |
Royal155: Yes it pays but you were just Lucky this time because other times there may not even debit you. There will leave your money in your account for you and with you would miss 2 weeks. |
Re: Treasury Bills In Nigeria by Danfuster(m): 9:13am On Jul 24, 2016 |
olujaidi: I got it. Replied |
Re: Treasury Bills In Nigeria by Nobody: 11:33am On Jul 24, 2016 |
freeman67:That is normal with every bank. At times they bid above the stop rate which will make them to miss out on that auction. Or a particular tenure will not be available on that auction day. Just follow the timetable. |
Re: Treasury Bills In Nigeria by just2endowed: 2:18pm On Jul 24, 2016 |
Can one inform and direct ecobank to use my bid instead of their bank bid |
Re: Treasury Bills In Nigeria by ummitoagirl(f): 2:29pm On Jul 24, 2016 |
I usually do 182 days because I simply dont trust Nigeria!...a lot can happen in a year for me, I may need my money along the line, I did rather have 2 x 182 days. Off course, I do get tempted due to the %, but i tell myself, its only 1.5% difference between 182/364 days. I bank from abroad with Ecobank, been very lucky to meet wonderful account managers!. Be careful, they will try and sell to you on the secondary market at lower rates, please emphasis what you want. Danfuster: |
Re: Treasury Bills In Nigeria by ummitoagirl(f): 2:38pm On Jul 24, 2016 |
No, Ecobank wont use your bid rate, they will only accept from their recommended rates just2endowed: 1 Like
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Re: Treasury Bills In Nigeria by MrTour: 4:15pm On Jul 24, 2016 |
Hi, how sure are you about EcoBank not using your specified bid rate? I intend to place a bid via them but I need to investigate further your comment to avoid me and them speaking the "do you know me grammar" lol. ummitoagirl: |
Re: Treasury Bills In Nigeria by just2endowed: 5:10pm On Jul 24, 2016 |
ummitoagirl: thanks for your response. But at the beginning of this thread, it was stated one can drop its rate and bid by him/herself. so guru and investors in the house, is it that one cannot choose his or her own bid rate? Please lets clarify this statement. I intend to drop my rate |
Re: Treasury Bills In Nigeria by munezo(m): 5:19pm On Jul 24, 2016 |
just2endowed: just2endowed: The standard practice is for you to give the bank your rate but some banks prefers you to go with their rate. Some banks may even want to corner you to buy from them from the secondary market. It is important to always tell them it is your rate and it is for the primary market bidding. Stanbic IBTC allows you to choose your rate or go with their rate if you wish. |
Re: Treasury Bills In Nigeria by Danfuster(m): 5:25pm On Jul 24, 2016 |
ummitoagirl: I knew there was a reasonable reason for that 182 days which I think is wise. I definitely would be going the same route, a year just seems too long for me too. I see you shared a snapshot of stop rate/Eco bank recommended rate which was from 2014, pls share the link to that page, I'd like to see the stop rate for last bidding as well as their recommended rate. I want to make my move next month. This is actually going to be my first bid and I want to get it right. Do you know if GT bank accepts ones bid rate, I'd like to bid through them... Hopefully they'll accept half a milli or slightly above. Thanks |
Re: Treasury Bills In Nigeria by Chukzyfcb(m): 6:19pm On Jul 24, 2016 |
Minister of finance, kemi-adeosun says the federal government plans to borrow funds from International Investors starting from the Third Quarter & with the new directives for bank to sell forex directly to BDCS. It seems further t.bills rate will ease down a little or remain stagnant coz domestic borrowing seems to be reaching its limit. Seems its about time FG will entice the foreign Investors & attract that external Funds....just saying tho www.businessnews.com.ng/2016/07/23/fg-to-start-international-borrowing-in-q3-adeosun/ |
Re: Treasury Bills In Nigeria by just2endowed: 9:52pm On Jul 24, 2016 |
munezo: Thanks for your clarification. I ask this coz I was surprised on the attached the other nler send. And I remember my last year bid that despite writing my bid using ecobank, they still gave me less my bid. I called the manager since the officer was saying they decided not me. The bank manager apologize and told me I have the right and that the modalities are different from normal bid. Anyway, I just want a Clarity |
Re: Treasury Bills In Nigeria by lilreese: 11:38pm On Jul 24, 2016 |
Is treasury bill interest paid at annum? And how does treasury bill works ? |
Re: Treasury Bills In Nigeria by ummitoagirl(f): 12:58am On Jul 25, 2016 |
It is the standard method Ecobank uses, it wont accept your personal rate, except you chose from their recommended bid rate. I buy my treasury bills through Ecobank, I cant say anything with regards to other banks in Nigeria. NB: I deal with them via the internet/Email. just2endowed: |
Re: Treasury Bills In Nigeria by ummitoagirl(f): 1:02am On Jul 25, 2016 |
I buy my treasury bills through Ecobank, but I am not Nigeria. The best thing for you is get intouch with your account manager and be certain. MrTour: |
Re: Treasury Bills In Nigeria by ummitoagirl(f): 1:08am On Jul 25, 2016 |
I receive the recommended bid rates in my inbox. I am not familiar with other banks. Danfuster:
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Re: Treasury Bills In Nigeria by ummitoagirl(f): 1:16am On Jul 25, 2016 |
The issue with the 6 months is, the stop rate may not be as juicy!, you may need to be settling for like btwn 10-12% for 182 days next year. In a situation where the rates are doing very well, I may split my funds into 2... 90 & 182 days or 182 & 364 days!...I am still very skeptical about locking my funds down for a year though. Danfuster: |
Re: Treasury Bills In Nigeria by unite4real: 6:26am On Jul 25, 2016 |
Chukzyfcb: Domestic borrowing is still a function of Tbills maturities. Tbills mature every 2 weeks. In that manner, govt float auctions every 2 weeks and the money is used to settle the maturities. This is one reason this auctioning and payments go on in cycle. |
Re: Treasury Bills In Nigeria by Danfuster(m): 8:43am On Jul 25, 2016 |
feelamong: ummitoagirl: I do appreciate you taking out time to clarify some thing. I think their is a fowl play somewhere, I compared the stop rate you got in your inbox with that which @feelamong posted, it seems Eco bank stop rate is a lot lower. I don't wanna point fingers yet |
Re: Treasury Bills In Nigeria by whyniel: 9:19am On Jul 25, 2016 |
ummitoagirl: This is quite low compared with what Stanbic gave me for 91days. |
Re: Treasury Bills In Nigeria by zamirikpo(m): 9:37am On Jul 25, 2016 |
bank are there to make profits, so when they meet a novice they tend to take advantage, for me i first findout the prevailing rate from CBN, then i tell my account officer my terms,if they they disagree, i move to another bank, no bank wants to loose a customer. moving forward, august 4 is fast approaching, what rate are advisable for 182days, am thinking of biding 16.48% advice please |
Re: Treasury Bills In Nigeria by munezo(m): 9:48am On Jul 25, 2016 |
Danfuster: There is no fowl play, ummitoagirl has made it clear that Eco Bank does not allow you to choose your rate but give you their own recommended rate. I have also said that Stanbic IBTC Bank allows you to choose your rate or go with theirs if you wish. With time we will be able to know how all the banks operate as we share our experiences with dealing with them here. |
Re: Treasury Bills In Nigeria by Chukzyfcb(m): 3:01pm On Jul 25, 2016 |
unite4real:Yea I agree with you. I'm just trying to correlate the news with the next direction of the rates. It seems to me to either be stagnant or bound to go southwards judging by her utterances. 1 Like |
Re: Treasury Bills In Nigeria by unite4real: 8:11pm On Jul 25, 2016 |
Chukzyfcb:Yes. because the local total borrowings will reduce and with expected high demand due to this, interest rate will go down. |
Re: Treasury Bills In Nigeria by freeman67: 9:43pm On Jul 25, 2016 |
I did 91days with Stanbic IBTC and was given 14% . I chose to go with their but my friend that did with FBN got 12%.. |
Re: Treasury Bills In Nigeria by Pajon(m): 6:58am On Jul 26, 2016 |
Presidency proposes $42.5 oil price benchmark for 2017 For the next fiscal year, the executive arm of government has proposed a crude oil benchmark price of $42.5 per barrel, up from the $30 in the 2016’s budget. An estimated N7.775 trillion is expected as revenue to be generated from the oil mineral resources alone based on the proposed $42.5 benchmark price and an estimated 2.2 million barrel per day oil production volume. These proposals are contained in the 2017 – 2019 Medium Expenditure Framework and Fiscal Strategy (MTEF) prepared by the Ministry of Budget and National Planning that would guide the engagement with the National Assembly and other stakeholders, as well as the eventual implementation of the 2017 plan when finally passed and signed into law.The proposal is to be submitted to the National Assembly before the end of August, according to the executive arm of government. Yesterday in Abuja, the Budget and National Planning Minister, Senator Udoma Udo Udoma and the Minister of State in the Ministry, Mrs. Zainab Ahmed as well as the Director-General of the Budget Office of the Federation, Mr. Ben Akabueze, met with civil society groups to get their inputs to the MTEF in line with the provisions of the 2007 Fiscal Responsibility Act. Unfolding the three-year MTEF budgetary plan, the executive also presented a crude oil production forecast of 2.3 million for 2018 and 2.4 million for 2019, just as it believes that the benchmark price for 2018 and 2019 would be $45 and $50 respectively. The proposal left the exchange rate at N290/$ for the three years beginning from next year to 2019 while it projected the inflation rate to remain at a double digit at 12.92 per cent for 2017; 11.88 per cent for 2018, and 12.57 per cent for 2019. Surprisingly, Udoma projects Nigeria’s BDP to rise from its sluggish growth level of 0.35 now to 3.02 per cent in 2017; 4.26 per cent in 2018, and 4.04 per cent in 2019. He explained: “The GDP growth is projected to gradually recover after the slowdown. A very marginal positive growth of 0.35 per cent is envisaged for 2016 and is projected to 4.04 per cent in 2019, thus averaging 3.77 per cent during MTEF period. GDP growth is largely to be driven by non-oil sector with agriculture, including agro – business, solid minerals, building and housing playing a lead role. Export- led growth is to be pursued as government will continue to step up efforts in diversifying the productive base of the economy as well as implementing relevant reforms.” On non-oil mineral revenue, the minister declared that Companies Income Tax (CIT) was projected to increase from N1.788 trillion this year to over N1.86 trillion in 2017 and beyond; VAT collections/ receipts to increase by about 42.4 per cent in 2017, while operating surpluses from independent revenue sources projection are expected to moderate in 2017 and thereafter a modest growth. On duties generated by the Nigerian Customs Service, Udoma said they were equally projected to moderate downwards in 2017 before picking up , while recoveries of misappropriated funds are projected to increase later this year and the succeeding years as well as recoveries / refunds from strategic alliance contracts and recoveries of other misappropriated funds and fines. more Here>>http://www.sarakinews.com/2016/07/presidency-proposes-425-oil-price.html |
Re: Treasury Bills In Nigeria by Biakwa: 7:18am On Jul 26, 2016 |
ummitoagirl: I think 364 is good to go as it stands now.That is if you have some funds to play arround with.The next auction may still expirience a slit increase but not much this is to discourage banks to now take the advantage...... |
Re: Treasury Bills In Nigeria by Nobody: 10:18am On Jul 26, 2016 |
I don't know why some people are afraid of this 365days tenure T.bills. This tenure remains the best in t.bill, as far as you have some idle funds that you won't be needing urgently. For someone who is afraid to invest in t.bill for 1yr, I wonder if that kind of person can ever have the nerve to invest in bonds and shares. |
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