gory24:
..From what I was made to understand by my account officers at FBN,there is not meant to be any charge on your TB..I wasn't charged any fee and my bid went through(FBN)..So go to your FBN bank and ask them to provide explanations..

yemioke:
I really appreciate all members in this forum that contributes in one way or the other to enlighten pple here on TB, please i want to know the minimum amount one can invest in TB through First Bank. so that if i get there i will not be a novice to the TB account officer.

LaconicINC:
Gurus in the house I need your help ooo, please how do I collapse my Treasury bills before maturity, what are the processes to follow. Responses highly anticipated.

Ihavespoken:
How much did u invest in it and how long have you held it for?

Also what interest rate did you get and which bank sold to you. I can help you find out with these.

LaconicINC:
Gurus in the house I need your help ooo, please how do I collapse my Treasury bills before maturity, what are the processes to follow. Responses highly anticipated.

40manlappy:


Just write a letter for liquidation of the investment and submit at the branch. It's a very simple and straightforward process.

You may attach a copy of the investment certificate if available. Your account officer will then notify you of the applicable discount rate and seek your concurrence for the consummation of the transaction.

LaconicINC:
how long will this process take

LaconicINC:
I invested 200k, interest is 13.7% for 91 days, stanbic, it was in the bid of 19/10/16 thanks

40manlappy:


I think it all depends on the availability of buyers in the secondary market. The last one I did was consummated within 48 hours while the one before that was about 72 hours or so.

To be on the safe side, you can "budget" about a week.

Ihavespoken:
Ok.
A person who works there said you are likely to get a discount sale rate of 11% based on the info you provided.
You can write to your branch and request this.

LaconicINC:
wow, so I will come out with a profit? Abi it's loss

LaconicINC:
about but like how much will I lose

Ihavespoken:
It will be a minor loss, your 200K is unlikely to be intact as rates are going up.

Think of it, you already had interest paid upfront and still want the 200K while you held the contract for 3days, is it possible in your view?

MrTour:
NOTICE NOTICE NOTICE !!!

This is to inform you that anyone who wishes to sell their TB Investment before maturity can contact me for negotiations. Even if I don't Bank with your Bank, I can open a bank account with them and we do the paperwork.

As I am the buyer be sure to offer me attractive rates as this is a secondary market buy.

40manlappy:


We have discussed this question earlier on the link below. Look out for my comment and that of freeman.67. Hope you will find it useful.

https://www.nairaland.com/878880/treasury-bills-nigeria/219#49900906

precious00:
Hi all,
I have a few questions on treasury bills, especially on the secondary market.

*whats the function of the custodian?
*what does the bank do when you pre-maturely request to end your treasury bill?
*Is there also auction in the secondary market??
*If a bank goes insolvent after uve successful bought Tbills using them, how do you get the value of your treasury bill when it matured

LaconicINC:
guess we should talk

MrTour:
Hi. I guess you want to sell your TB, contact your Bank first to understand how much you are likely to get then let me know.

seemples:

kingsilly:
13.7 or so,
Just to test run though and see how tbills work, calendar year I'll be doing next

ihedioramma:
That's good . have they pay your profit?

kingsilly:
Yep, like immediately

ihedioramma:
Sand me e-mail .

freeman67:


All these questions you are asking have been answered here before. You would have taken your time to start going through it from page one. But maybe some of you coming now do not have the strength. So will try to answer some again at least it will help increase the volume of the thread.

* In order to separate Money for treasury bill bought by bank customers from their the banks real property /assets CBN instructed they keep it separately with a custodian. you will find the full explanations here: http://nairametrics.com/official-fom-1514-buying-treasury-bills-bonds-will-cost-you-a-fee-and-this-is-who-earns-it/

* When you prematurely request to end your treasury bill the bank will look for buyer in the secondary market and sell it to. But then depending on the percentage at the time you bought and the time you want to sell prematurely and also the percentage the buyer may b willing to buy you may not get up to the interest or end up loosing a little of your capital eg. If you buy when the percentage was as low as 7-8% Per annum you will not want to now and expect the same interest when its about 17-18% now. Selling it will consume part of your accrued interest.

* Yes there always is mostly through security houses.

* If the bank goes insolvent I believe if you contact the custodian used by the with your particulars and evidence of the investment you will be paid.

freeman67:


All these questions you are asking have been answered here before. You would have taken your time to start going through it from page one. But maybe some of you coming now do not have the strength. So will try to answer some again at least it will help increase the volume of the thread.

* In order to separate Money for treasury bill bought by bank customers from their the banks real property /assets CBN instructed they keep it separately with a custodian. you will find the full explanations here: http://nairametrics.com/official-fom-1514-buying-treasury-bills-bonds-will-cost-you-a-fee-and-this-is-who-earns-it/

* When you prematurely request to end your treasury bill the bank will look for buyer in the secondary market and sell it to. But then depending on the percentage at the time you bought and the time you want to sell prematurely and also the percentage the buyer may b willing to buy you may not get up to the interest or end up loosing a little of your capital eg. If you buy when the percentage was as low as 7-8% Per annum you will not want to now and expect the same interest when its about 17-18% now. Selling it will consume part of your accrued interest.

* Yes there always is mostly through security houses.

* If the bank goes insolvent I believe if you contact the custodian used by the with your particulars and evidence of the investment you will be paid.