bmdflo:
I went with bank rate, stanbic ibtc, I've been debited, though the guy in charge told me 17.1 for 182 days tenure, I'm yet to confirm the rate.

I also did 182 days with Stanbic and went with bank rate but yet to be debited.

logoscope:
Pls explain, I tot d interest should be N13,600. I'm new to TB though.

interest is per annum so 13,600 is interest of 1 year. since the investment is for 91 days, it means it is for a quarter of 1 year. so divide 13,600 by 4 and you get 3,400.

unite4real:
I have sent a mail to DMO and waiting to clear the air on all these confusion they are trying put us into.

any response from DMO............


and i though auctions would be held today, hw come some people are already getting upfront interest.

logoscope:

Pls what is MMF? I have spare cash to invest. I was thinking of doing FD, until I saw this post.

refer to this thread to know more about MMF

https://www.nairaland.com/1912965/mutual-funds

zamirikpo:


lets not jump into conclusion so fast, from what i understand about NTB...individuals ordinarily cannot apply directly unless they have a minimum of 150m......thats y we go through the banks or financial houses , and what the banks do is to compile a list of applicants.....then apply to the CBN......on our behalf, minimum investments varied with the different banks. So now if this new policy is stating 50m minimum.....how does that affect us when ordinarily we dont apply individually or r u guys saying that the banks would require u to have 50m before u can put in an application at the bank level.

fidelity securities and other finance houses could as well collect peoples money and invest in d NTB primary market.......without any wahala just like they have always done . or r we saying that the finance houses would no longer offer such services unless we apply with 50m.

as individuals we dont subscribe directly to CBN.....and from what i read above ,minimum subscription to the CBN on NTB is 50m.

i would like answers and clarifications on my observations.

You said it very well , the only thing I think will change will be individuals stating their rates to the banks. Henceforth, everyone will have to go with the rate of the bank he is bidding through. And I think the banks are already enforcing that. My last bid through Diamond bank was not debited, probably because I insisted on going with my rate. The account officer later called me to apologized that he could not submit my bid. This week's bid I chose Stanbic, after filling the form the customer care rep asked me to cancel my stated rate and go with the bank's rate, although her reason was the rate could be higher. Anyway, I decided to go with the bank rate and still waiting to be debited...@NL1960, we are in the same train o

zamirikpo:


any response from DMO............


and i though auctions would be held today, hw come some people are already getting upfront interest.

No response yet but from all indications, we have to resort to buying from secondary market henceforth. This will be lower than the primary auction unless banks are desperate to mop naira to buy dollars, this is when we are likely to get TB at par with primary auction or even more than that. For now, the savings bond is what we look up to.

unite4real:


No response yet but from all indications, we have to resort to buying from secondary market henceforth. This will be lower than the primary auction unless banks are desperate to mop naira to buy dollars, this is when we are likely to get TB at par with primary auction or even more than that. For now, the savings bond is what we look up to.

Which small investor will want to tie down his/her funds in a savings bond for 3-5 years?. Secondary market will be a better option. The banks can buy in bulk from the CBN and sell to small investors. If a bank buys from CBN at 17% for instance, i will not mind buying from the bank's secondary market at 16% instead of tying down the money in a savings bond at 18% for instance.

My dear o. I just received alert from the sale of my shares this morning only to come here to read this. I'm just sad and disappointed

torres2:
when I was planning to start NTB next month.



Arrgghhh

Please anybody with closing rates of last auction??

NL1960:


Which small investor will want to tie down his/her funds in a savings bond for 3-5 years?. Secondary market will be a better option. The banks can buy in bulk from the CBN and sell to small investors. If a bank buys from CBN at 17% for instance, i will not mind buying from the bank's secondary market at 16% instead of tying down the money in a savings bond at 18% for instance.

the savings bond is 2-3 years not up to 5 years. again, it will always be traded on the floor of the NSE, so no wahala

TREASURY BILLS UPDATE, 1/03/2017

91 DAYS ---13.65%

182 DAYS --- 17.20%

364 DAYS -----18.4965%

I concur with you on this and pray this possibility arise.

NL1960:


Which small investor will want to tie down his/her funds in a savings bond for 3-5 years?. Secondary market will be a better option. The banks can buy in bulk from the CBN and sell to small investors. If a bank buys from CBN at 17% for instance, i will not mind buying from the bank's secondary market at 16% instead of tying down the money in a savings bond at 18% for instance.

I missed out again o, went with 18.50 for 364

feelamong:
TREASURY BILLS UPDATE, 1/03/2017

91 DAYS ---13.65%

182 DAYS --- 17.20%

364 DAYS -----18.4965%

Is this the rates that banks got with CBN direct or secondary, so if i bid 18.3 (364 days) with GTB, should I have won ? Anyone dealt with Access bank with T-Bills ?

feelamong:
TREASURY BILLS UPDATE, 1/03/2017

91 DAYS ---13.65%

182 DAYS --- 17.20%

364 DAYS -----18.4965%

unite4real:


the savings bond is 2-3 years not up to 5 years. again, it will always be traded on the floor of the NSE, so no wahala

Thanks. The funds i have now cannot be tied up for 2-3 years. So i will still prefer the secondary market option. Are there guidelines on how this savings bond will be traded on the floor of the NSE?. Price movement of stocks has been known to be manipulated.

mavverick:
Is this the rates that banks got with CBN direct or secondary, so if i bid 18.3 with GTB, should I have won ? Anyone dealt with Access bank with T-Bills ?

18.3 for how many days?.

18.3 for 364 days

NL1960:


18.3 for how many days?.

mavverick:
18.3 for 364 days

You are supposed to have won. So wait for your bank's debit alert. Some banks do not debit immediately. That of Gtbank that i did in February was debited a day later. I went with bank rate though.

NL1960:


Thanks. The funds i have now cannot be tied up for 2-3 years. So i will still prefer the secondary market option. Are there guidelines on how this savings bond will be traded on the floor of the NSE?. Price movement of stocks has been known to be manipulated.

from the 3rd week of march it will become clearer. It cannot suffer such manipulation as envisaged. remember that FGN Bonds and Treasury bills are traded everyday on the floor and investors still get satisfactory bargain.

feelamong:
TREASURY BILLS UPDATE, 1/03/2017

91 DAYS ---13.65%

182 DAYS --- 17.20%

364 DAYS -----18.4965%

Thanks boss, you were justified on the suggestion to go with last auction's rate.

I played too safe and specified 18% for Stanbic

40manlappy:


Thanks boss, you were right on the suggestion to go with last auction's rate.

I played too safe and specified 18% for Stanbic

Have you been debited by Stanbic?.

Please sir, can you guide as how it's done on the secondary market

unite4real:


from the 3rd week of march it will become clearer. It cannot suffer such manipulation as envisaged. remember that FGN Bonds and Treasury bills are traded everyday on the floor and investors still get satisfactory bargain.

NL1960:


Have you been debited by Stanbic?.

I am yet to get the transaction notification.

Do you think the banks are happy that retail investors are pulling out funds from f.deposit to go and invest in tbills??

with this limitation set, most of the t.bills players will either be forced to buy from the banks excess which is the secondary market or surrender to fixed deposit.
Treasury bills has never been a strong recommendation from the banks to customers so now is the time they have to preach to all and sundry about FIXED DEPOSIT, lool
As for the name Savings bond, anything that has the word savings in 9ja always come with low interest rate, so don't expect impressive rates from it.
Now we are at the mercy of banks, they can bid at 18% and now resell to us at 12 or even 10%. that way we will be forced to choose thier alternative which would be Fixed deposit ofcourse. #shalom :-)

chukzyfcbb:
Do you think the banks are happy that retail investors are pulling out funds from f.deposit to go and invest in tbills??

with this limitation set, most of the t.bills players will either be forced to buy from the banks excess which is the secondary market or surrender to fixed deposit.
Treasury bills has never been a strong recommendation from the banks to customers so now is the time they have to preach to all and sundry about FIXED DEPOSIT, lool
As for the name Savings bond, anything that has the word savings in 9ja always come with low interest rate, so don't expect impressive rates from it.
Now we are at the mercy of banks, they can bid at 18% and now resell to us at 12 or even 10%. that way we will be forced to choose thier alternative which would be Fixed deposit ofcourse. #shalom :-)

We have an ex-banker as CBN governor. So he will be looking for ways to favour his former constituency. Did you see how he resurrected COT in the name of 'Account Maintenance Charge'?. What i know of account maintenance charge in other places is a fixed amount charged on your account at the end of every month and not a percentage charge on any debit that goes into the account.

I feel the govt way to cut down on the interest they pay on treasuries. Naturally subscription for the bonds will be lower than TB due to its longer maturity.

Then I think the govt wants to use the treasury bills to monitor people that acquire money illegally. For me to put down 50m and above for TB , they'll want to know my source

The commercial banks will suffer cos they also set up similar schemes for people to save with them.

All in all I don't think this FGN savings will be sustainable for a long time

My account manager just called e that I won the bid at 18.4% for 364 days - was just debited now.

If it so happens that we are cut off from d primary market, then the secondary market would suffice, this forum would definitely guide us on the banks with the best NTB rates.

banks have never been happy with customers using NTB......

40manlappy:


Thanks boss, you were justified on the suggestion to go with last auction's rate.

I played too safe and specified 18% for Stanbic

I played safe myself and went with 18% as against 18.5% i did two weeks ago .
Thank God i didnt loose out if this will be the last TBN for the poor masses

mavverick:
Is this the rates that banks got with CBN direct or secondary, so if i bid 18.3 (364 days) with GTB, should I have won ? Anyone dealt with Access bank with T-Bills ?

Yes, you won it

mavverick:
Is this the rates that banks got with CBN direct or secondary, so if i bid 18.3 (364 days) with GTB, should I have won ? Anyone dealt with Access bank with T-Bills ?

I did with Access Bank 364 @ 18.35, but am yet to get any alert from the bank.