question:
Hello Tbills gurus,
I have a concern. I did a 1-year Tbills (Secondary market) investment with GTbank about 2 months ago. They debited my account minus the interest and I saw the Tbills investment reflected in my online account profile.
But 1 month ago, they created my account as if the investment has matured and debited it again same day. From then on, I didnt see the Tbills investment in my account again. I was worried as this was quite unusual.
I have asked and they said that I should not worry that it is a problem with their internet platform to be fixed soon. Till today I have not seen the investment in my account.
I know something is not right somewhere within the bank. Has anyone experienced this kind of tbills problem with any nigerian bank?

This is why I don't trust secondary market t-bills. The bank can play games with your money.

question:
Hello Tbills gurus,
I have a concern. I did a 1-year Tbills (Secondary market) investment with GTbank about 2 months ago. They debited my account minus the interest and I saw the Tbills investment reflected in my online account profile.
But 1 month ago, they created my account as if the investment has matured and debited it again same day. From then on, I didnt see the Tbills investment in my account again. I was worried as this was quite unusual.
I have asked and they said that I should not worry that it is a problem with their internet platform to be fixed soon. Till today I have not seen the investment in my account.
I know something is not right somewhere within the bank. Has anyone experienced this kind of tbills problem with any nigerian bank?

This is why I don't trust secondary market t-bills. The bank can play games with your money.

400billionman:


You think TB customers don't know about RE. The returns are the same, I do both.

But be informed that TB is stress free and you can start with as low as 100k. While RE is very risky and you require millions to start.

It pains me that many years after resigning from the bank, i am just noticing this investment window.

Indeed knowledge on paper is different from applied knowledge..

rationalmind:


Roughly 8.15m

Always use A=P (1+r)^t
A is the compounded amount.
P is the principal which in this case is 5m
r is the rate which is 13%=0.13
t is the number of years =4

chukzyfcbb:

Oops I dunno bout stanbic ibtc but first bank of Nigeria has that option "Re-invest upfront interest".
If they don't why not seek for extra cash to add to your capital, knowing you can pay back with the upfront interest.
eg I want to Invest 1million at 18% 364days,
I know that 180,000will be paid upfront while 820,000 will be taken away. Now if I can add/borrow 200,000 from a friend/family and Invest 1.2million at same 18%
my upfront ineterst (gross) will be 216,000. With this upfront interest I can payback my friend his money THE NEXT DAY, while I will be expecting 1.2m at the end of the tenor.
so I borrow and payback in less than 48hrs,lol

NB: I forgot to say you can do this diffefently, there was a comment here sometime ago I think by ernie4life.
Not so sure who again but he said
in stanbic ibtc, they don't deduct the whole capital and then payback interest like they do in first bank, instead they just take the actual amount if successful. we had that discussion some months ago.

so I may have 1million naira in my account but write in the form that I want to Invest 1.2million at 18%
because I know that if successful, 984,000 will be deducted from my account. I was surprised to hear this, but he says he does it often at stanbic.

First bank usually takes the WHOLE amount at first which makes it impossible to do

chukzyfcbb:

Oops I dunno bout stanbic ibtc but first bank of Nigeria has that option "Re-invest upfront interest".
If they don't why not seek for extra cash to add to your capital, knowing you can pay back with the upfront interest.
eg I want to Invest 1million at 18% 364days,
I know that 180,000will be paid upfront while 820,000 will be taken away. Now if I can add/borrow 200,000 from a friend/family and Invest 1.2million at same 18%
my upfront ineterst (gross) will be 216,000. With this upfront interest I can payback my friend his money THE NEXT DAY, while I will be expecting 1.2m at the end of the tenor.
so I borrow and payback in less than 48hrs,lol

NB: I forgot to say you can do this diffefently, there was a comment here sometime ago I think by ernie4life.
Not so sure who again but he said
in stanbic ibtc, they don't deduct the whole capital and then payback interest like they do in first bank, instead they just take the actual amount if successful. we had that discussion some months ago.

so I may have 1million naira in my account but write in the form that I want to Invest 1.2million at 18%
because I know that if successful, 984,000 will be deducted from my account. I was surprised to hear this, but he says he does it often at stanbic.

First bank usually takes the WHOLE amount at first which makes it impossible to do

presiade:

The same thing happened to my last TB investment with GTB and they are yet torevert it. I think they have an issue, which they would resolve whether they like it or not. You don't have to panic because your account statement is your evidence.

Gavrelino123:

Bro,is it Primary or Secondary Market.?
what is the problem actually.?

TopKol:
Treasury Bill Schedule;

https://www.fmdqotc.com/services/listings-and-quotation/securities-quotations/t-bills/

TopKol:
Treasury Bill Schedule;

https://www.fmdqotc.com/services/listings-and-quotation/securities-quotations/t-bills/

tolajay:
Thanks.

Is this for the primary or secondary market?

Just checked out the site but realise that the interest rates were not stated, only the volume and dates were presented.

tolajay:
I'd need to open a new account, but here I am with no valid means of identification.

My international passport expired some months back, I don't have driver's license, national I.D (yet to capture biometrics - long queues), no voter's card (been there over 5 times but no way).

What is the way out? .

Gavrelino123:

Bro,is it Primary or Secondary Market.?
what is the problem actually.?

presiade:

I bidded through the primary market about 1-2 months ago. Two previous TB investments are reflecting on my online profile, but the last one is presently not. Around last week it reflected and it disappeared again, followed by debiting and crediting of my account.... I guess they have system issue which is no cause for alarm. In the worst case scenario, one can show account statement as the the evidence.

Gavrelino123:

Do you have a Certificate of investment.?
Have you visited their head office.?
Have you complained to them.?
what is actually happening.?

kycilae:


Pls do you hv idea of banks that operate that way?

Phyde:

22% for the same 364 days if I re-invest the profit? This sounds interesting...I did not see Re-Invest Interest option on the form i picked from stanbic IBTC. How will i go about it sir?

chukzyfcbb:

Oops I dunno bout stanbic ibtc but first bank of Nigeria has that option "Re-invest upfront interest".
If they don't why not seek for extra cash to add to your capital, knowing you can pay back with the upfront interest.
eg I want to Invest 1million at 18% 364days,
I know that 180,000will be paid upfront while 820,000 will be taken away. Now if I can add/borrow 200,000 from a friend/family and Invest 1.2million at same 18%
my upfront ineterst (gross) will be 216,000. With this upfront interest I can payback my friend his money THE NEXT DAY, while I will be expecting 1.2m at the end of the tenor.
so I borrow and payback in less than 48hrs,lol

NB: I forgot to say you can do this diffefently, there was a comment here sometime ago I think by ernie4life.
Not so sure who again but he said
in stanbic ibtc, they don't deduct the whole capital and then payback interest like they do in first bank, instead they just take the actual amount if successful. we had that discussion some months ago.

so I may have 1million naira in my account but write in the form that I want to Invest 1.2million at 18%
because I know that if successful, 984,000 will be deducted from my account. I was surprised to hear this, but he says he does it often at stanbic.

First bank usually takes the WHOLE amount at first which makes it impossible to do

question:


Secondary market.
The problem is that someone has TWO Tbills investment. N3million and N2million.
The N2million is showing as a Tbills investment in your bank account profile online.
But the N3million is not showing anywhere in the account profile. So what is the genuine explanation?

TONY56:


Yes Stanbic does not do "Re-invest interest option". Though there is a way round it at Stanbic by doing some calculations but you can get that option at First Bank

chukzyfcbb:

Oops I dunno bout stanbic ibtc but first bank of Nigeria has that option "Re-invest upfront interest".
If they don't why not seek for extra cash to add to your capital, knowing you can pay back with the upfront interest.
eg I want to Invest 1million at 18% 364days,
I know that 180,000will be paid upfront while 820,000 will be taken away. Now if I can add/borrow 200,000 from a friend/family and Invest 1.2million at same 18%
my upfront ineterst (gross) will be 216,000. With this upfront interest I can payback my friend his money THE NEXT DAY, while I will be expecting 1.2m at the end of the tenor.
so I borrow and payback in less than 48hrs,lol

NB: I forgot to say you can do this diffefently, there was a comment here sometime ago I think by ernie4life.
Not so sure who again but he said
in stanbic ibtc, they don't deduct the whole capital and then payback interest like they do in first bank, instead they just take the actual amount if successful. we had that discussion some months ago.

so I may have 1million naira in my account but write in the form that I want to Invest 1.2million at 18%
because I know that if successful, 984,000 will be deducted from my account. I was surprised to hear this, but he says he does it often at stanbic.

First bank usually takes the WHOLE amount at first which makes it impossible to do

TONY56:



Yes Stanbic debits you only the amount less the interest BUT they won't allow you bid beyond what you have in your account. So the only way of going round it at Stanbic is to have extra money or borrow for one or two days as you have explained

presiade:

WTH? I said in my opinion, it's not a cause for alarm... They would resolve it naturally... Otherwise upon maturity we settle the issue, no stress. I'm not even in Nigeria.

DrMeroThaEmperor:
maybe your BVN would suffice.

tolajay:
Thanks.

Had a chat with FBN via Twitter and they requested a valid form of identity. BVN wasn't started.

Sadly, I just struggled to get a Voter's card today (not the plastic one) and I was told it won't suffice, too.

Getting a national ID is like wishing corruption out of Nigeria.

Guess, I'm locked at the moment.

CelestineC:
I would love to invest in TB, someone please point me to the right direction


I have account with first bank and zenith bank


Please I'm new to this, I would appreciate your mentorship

tolajay:
Thanks.

Had a chat with FBN via Twitter and they requested a valid form of identity. BVN wasn't started.

Sadly, I just struggled to get a Voter's card today (not the plastic one) and I was told it won't suffice, too.

Getting a national ID is like wishing corruption out of Nigeria.

Guess, I'm locked at the moment.

CelestineC:
I would love to invest in TB, someone please point me to the right direction


I have account with first bank and zenith bank


Please I'm new to this, I would appreciate your mentorship

RAY12345:


Hello, someone shares this links sometime on this thread, I think u need to read it and then comeback and ask ur case specific questions.

http://www.financialfreedominspiration.com/investing-in-treasury-bills-simplified/

http://www.financialfreedominspiration.com/financial-security-investing-in-treasury-bills/

http://www.financialfreedominspiration.com/invest-treasury-bills-low-funds-2/

I hope this helps.

Regards