rotormast:
I'm thinking of investing into T.Bills... is Access bank ok? because im thinking of using them.

I'm more comfortable using GTB over any other bank.

I already tried even N100 Airtime but they all failed using their online banking.

unite4real:


Use it to purchase mobile air time to recharge your phone

jumboo:

I'm more comfortable using GTB over any other bank.

oh ok..

How long have you been using gtb?

They are in the list of top greedy banks.
Their rates is among the lowest.

They are okay if that's your only option.

rotormast:
I'm thinking of investing into T.Bills... is Access bank ok? because im thinking of using them.

amjustme2:
They are in the list of top greedy banks.
Their rates is among the lowest.

They are okay if that's your only option.

I have some money in my account with them but i can always move it to a better bank . do you have any idea of the current rate and a reliable bank (s)?

The bulls are awake and reigning in NSE (high risk, high reward).
But I think I will stick with Tbills (low risk, mid reward).

IBTC have the best rates.

FBN GTBANK follows.
But mind you the difference in rates is not too much, like 18.5 and 18.2.

If you are buying at secondary market, make sure they tell you the rate and possibly compare before filling the form.

rotormast:



I have some money in my account with them but i can always move it to a better bank . do you have any idea of the current rate and a reliable bank (s)?

amjustme2:
IBTC have the best rates.

FBN GTBANK follows.
But mind you the difference in rates is not too much, like 18.5 and 18.2.

If you are buying at secondary market, make sure they tell you the rate and possibly compare before filling the form.

They gave me 17.2 and stanbic is saying 17.5.. So, i went ahead to buy it at Access....thank you so much for your reaponse, you've been so helpful. One last question, I did 2.5.. im thinking of buying more by next month : using stanbic. Is it ever too much? Or can i keep buying since it's risk free?

rotormast:




They gave me 17.2 and stanbic is saying 17.5.. So, i went ahead to buy it at Access....thank you so much for your reaponse, you've been so helpful. One last question, I did 2.5.. im thinking of buying more by next month : using stanbic. Is it ever too much? Or can i keep buying since it's risk free?

17.2 and 17.5 for what tenures please.

Cation:
17.2 and 17.5 for what tenures please.

241 days..

rotormast:

241 days..

thanks

LOL. If you have huge cash you have invest at once, the profit becomes big and you can use the upfront interest for something else or reinvest, possibly another business which can fetch you money as well.

You can bid in Primary market with rate slightly higher, but tenors are fixed. You can discuss with the bank you want to participate in their primary auction. Unlike the secondary market, you will not know the rate untill after a successful auction held every forth-nights.

rotormast:




They gave me 17.2 and stanbic is saying 17.5.. So, i went ahead to buy it at Access....thank you so much for your reaponse, you've been so helpful. One last question, I did 2.5.. im thinking of buying more by next month : using stanbic. Is it ever too much? Or can i keep buying since it's risk free?

rotormast:




They gave me 17.2 and stanbic is saying 17.5.. So, i went ahead to buy it at Access....thank you so much for your reaponse, you've been so helpful. One last question, I did 2.5.. im thinking of buying more by next month : using stanbic. Is it ever too much? Or can i keep buying since it's risk free?

there is no limit..
put a billion if you have
and demand higher rates
primary market gives 18+% rates
just tell the banker you want primary market for 364 days

with the way secondary market is discusses here, one could think that he/she could just walk up to any bank ask for rates and invest right away. But in reality, the opposite is in play.
Visited FBN and asked about thier secondary market, I was made to know that it depends on what was available as at the time and not what I had to offer that mattered....The FBN staff looked at his PC and said for example that there is market for 3million at so so rate, so if I had 100k for example, it means I can't invest because I can't match that 3million. so its purely based on what's available except its different from the way it's run in other banks.

Meanwhile bidding takes place on the 18th right?

chukzyfcbb:
with the way secondary market is discusses here, one could think that he/she could just walk up to any bank ask for rates and invest right away. But in reality, the opposite is in play.
Visited FBN and asked about thier secondary market, I was made to know that it depends on what was available as at the time and not what I had to offer that mattered....The FBN staff looked at his PC and said for example that there is market for 3million at so so rate, so if I had 100k for example, it means I can't invest because I can't match that 3million. so its purely based on what's available except its different from the way it's run in other banks.

Meanwhile bidding takes place on the 18th right?

That is not true. Try another branch

chukzyfcbb:
with the way secondary market is discusses here, one could think that he/she could just walk up to any bank ask for rates and invest right away. But in reality, the opposite is in play.
Visited FBN and asked about thier secondary market, I was made to know that it depends on what was available as at the time and not what I had to offer that mattered....The FBN staff looked at his PC and said for example that there is market for 3million at so so rate, so if I had 100k for example, it means I can't invest because I can't match that 3million. so its purely based on what's available except its different from the way it's run in other banks.

Meanwhile bidding takes place on the 18th right?

It means they could have sold you 100k TB from the 3m available if you are OK with the tenure. Yes secondary market is mostly based on availability. It's not only when a customer want to resell banks buy to resell to customer at a lesser percentage to make gains.

freeman67:


It means they could have sold you 100k TB from the 3m available if you are OK with the tenure. Yes secondary market is mostly based on availability. It's not only when a customer want to resell banks buy to resell to customer at a lesser percentage to make gains.

yea I know that I could accept the 100k from the available 3m , however I used 100k as an example.
its not the amount I intend to invest

You just reminded me of something , I really goofed. U just reminded me that bank do resell not just individuals, so instead of quoting available rates and amounts, he should have just told me the banks secondary rates where I can invest any amount. I completely forgot bout that, thanks. since bidding is next tomorrow, I rather do join za primary market

feelamong:


Please let's not derail this Treasury bill thread... I have a thread created for Bitcoins and Investments around it.

Send mail to feelamong@gmail.com for more info

I just sent you a mail.

please I will need your help on bitcoin mining /investment.


I have a source of getting dollars

DEGREE2466:


I just sent you a mail.

please I will need your help on bitcoin mining /investment.


I have a source of getting dollars

seen and replied!!

Dears,

This new TB system is like a money making venture for the banks from what i had from GTB for bidders with less than 50.1mio going with the bank rate. GT told me that they will be bidding 18% for 364days this week and that if the auction closed at 18.5% for example, the spread of 0.5% belongs to GTB. I don't understand this, please can the house share if this is the same thing done by other banks? If no, i want to PORT immediately now to a bank that will not reap me off this way after they would have charged all their fees for the transaction. PLS THIS IS URGENT!!!

First bank restricted me from bidding in the primary market, I was offered secondary rates market from first bank of Nigeria.
170days - 17.2%
163days - 17.45%

chukzyfcbb:
First bank restricted me from bidding in the primary market, I was offered secondary rates market from first bank of Nigeria.
170days - 17.2%
163days - 17.45%

please I don't understand this 163days and 170days tenure because it's not up to the normal 192days. are they going to still pay the interest for 192days or they just calculate the interest for 163days and pay.

Cation:
please I don't understand this 163days and 170days tenure because it's not up to the normal 192days. are they going to still pay the interest for 192days or they just calculate the interest for 163days and pay.

That is why its the secondary market transaction.

You will get Interest fr only the no of days quoted. here is 163 days or 170 days

feelamong:


That is why its the secondary market transaction.

You will get Interest fr only the no of days quoted. here is 163 days or 170 days

Thanks

.

Good evening house,
please can anyone confirm if the MPC will be meeting next week, and also when the NBS is likely to release April's inflation figures. I pray the former happens before the latter, because I don't want any funny change from the status quo yet as far as rates are concerned. Let the rates remain high for several quarters to come.
As a concerned citizen, and as one who thinks constantly about the economic well being of this nation, I often get worried when I see that our debt service cost is in excess of 60% of government revenue. But then I understand that even if it's only 10%, with the persistent leadership problems, 70% of the remaining 90% will be mismanaged, and so there may not be any significant headway. So I'd rather have the rates remain high since that's a sure way of giving more peeps little bites from the national cake. Whatever downside that has will eventually sort itself.
Splendid night to everyone.

Hello House please can someone tell me what interest i will make if i invest in treasury bills with 5M for 91days??

https://www.nairaland.com/3802975/inflation-rate-drops-third-consecutive

Inflation rate dropped to 17.24% in April

awesomeJ:
Good evening house,
please can anyone confirm if the MPC will be meeting next week, and also when the NBS is likely to release April's inflation figures. I pray the former happens before the latter, because I don't want any funny change from the status quo yet as far as rates are concerned. Let the rates remain high for several quarters to come.
As a concerned citizen, and as one who thinks constantly about the economic well being of this nation, I often get worried when I see that our debt service cost is in excess of 60% of government revenue. But then I understand that even if it's only 10%, with the persistent leadership problems, 70% of the remaining 90% will be mismanaged, and so there may not be any significant headway. So I'd rather have the rates remain high since that's a sure way of giving more peeps little bites from the national cake. Whatever downside that has will eventually sort itself.
Splendid night to everyone.

.

chukzyfcbb:

yea I know that I could accept the 100k from the available 3m , however I used 100k as an example.
its not the amount I intend to invest

You just reminded me of something , I really goofed. U just reminded me that bank do resell not just individuals, so instead of quoting available rates and amounts, he should have just told me the banks secondary rates where I can invest any amount. I completely forgot bout that, thanks. since bidding is next tomorrow, I rather do join za primary market

Maybe you didn't actually goof. Some banks are strict about the minimum principal and they don't trade at anything below, perhaps as per bank policy.
I regularly trade through UBA and their minimum principal is 1m.
They however have attractive going rates, though I'm open to banks with better rates.

frenchwine:

Maybe you didn't actually goof. Some banks are strict about the minimum principal and they don't trade at anything below, perhaps as per bank policy.
I regularly trade through UBA and their minimum principal is 1m.
They however have attractive going rates, though I'm open to banks with better rates.

Please when last did you bid through UBA? What was the rate? Did they allow you to bid in the primary auction like stanbic and GT seem to have been doing?

SamReinvented:


Please when last did you bid through UBA? What was the rate? Did they allow you to bid in the primary auction like stanbic and GT seem to have been doing?

I traded in March. And no, wasn't allowed to bid in the primary auction.
As per rates, the least as at that time was 13% for 35day tenor and the highest was 17% for 96day tenor.
There are usually new going rates at fresh auctions.