7footre:
Please I have an issue here.... made an investment in Tbills with ecobank they gave me a quotation of 9.7% after a week, they paid me about 3%. The 91 days has elapsed and I only got ma initial investment with the other 6% yet to be paid... it's been over 3 weeks the 91 tenor elapsed what am I to do? Thanks in anticipation

Mr 7 footer,from the little I understand from your post,you got a 9.7% quote for 91-day tenor TB from Ecobank and you were paid about 3% of your investment upfront as interest and after the 91 day tenor,your capital was returned back to you.
You did not factor that your 9.7% quote was 9.7% PER ANNUM and not 9.7% of your capital investment. The interest paid to you was 9.7% PER ANNUM of your investment spread over 91 days.
Let's do the math.Say you invested N100,000...9.7% of this per annum amounts to about N9700 and when divided by 12 months should get you about N808 per month. Your 91-days amounts to 3 months,the interest that you will receive upfront will be N2,424(being N808 multiplied by 3) and that is almost 3% of the N100,000 capital.
My brother (or sister,I dunno which),na your money you don collect so.Unless there is something else you want to collect from Ecobank....I dunno about that one O...as another nairalander would say,na my own 10 cowries maths be that O....

Seun:
Does anyone have the timetable?

R u really SEUN OSEWA?

Whats the result of yesterdays auction?I have searched everywhere but couldn't find anything..........

pls what rate is the one for yesterday 91 days mine is domiciled at first bank

On these, make sure you sit down with the forms given you, and read the fine print very well. I once invested alot of money with the Stanbic Ibtc investments platform, the experience wasn't palatable, I lost 60percent of the funds I put in with them.

Thus read the fine print very well, before parting with your money

obiak4:

investment one has such different investment portfolios
also gtb investment savings
mutual funds try STabic Ibtc or ARM
DISCLAIMER I HAVEN'T TRY ANY OF THESE OOOOOO PLEASE BEFORE U INVEST MAKE RESEARCH OOOOOOOOO
U CAN TROW IT OPEITO THE HOUSE HOPE HAVE NOT DERAILED FROM OUR TOPIC?

Anyone with info concerning yesterday auction?.........Why is it taking so long?.......

angelo82:
Whats the result of yesterdays auction?I have searched everywhere but couldn't find anything..........

Dear XXXXXX,

Please see below the result of the last Primary Market Auction:

PRIMARY MARKET AUCTION RESULT

TENOR (DAYS) STOP RATE

91 10.75%

182 13.70%

364 15.25%



Bidders either won or lost at their own quotes. Therefore, quotes higher than CBN’s stop rates were not successful.

feelamong:


Dear XXXXXX,

Please see below the result of the last Primary Market Auction:

PRIMARY MARKET AUCTION RESULT

TENOR (DAYS) STOP RATE

91 10.75%

182 13.70%

364 15.25%



Bidders either won or lost at their own quotes. Therefore, quotes higher than CBN’s stop rates were not successful.

Feelamong,

Oddly the results haven't been published and even most people on here seem not to have confirmed their investments.

I guess you're an insider.

i got 14.1% for 364 days tenor. Diamond Bank. not pleased cos i expected more than that. i actually opted for prevailing market rate rather than a bid rate.

Thanks and when do you think account for successful bid will be debited?...............

feelamong:


Dear XXXXXX,

Please see below the result of the last Primary Market Auction:

PRIMARY MARKET AUCTION RESULT

TENOR (DAYS) STOP RATE

91 10.75%

182 13.70%

364 15.25%



Bidders either won or lost at their own quotes. Therefore, quotes higher than CBN’s stop rates were not successful.

I bid for 14.1% also just to be on the safe side but 15% could have been a successful deal......Though 14.1% is better than 13 or 13.5% offer from my bank.........

unite4real:
i got 14.1% for 364 days tenor. Diamond Bank. not pleased cos i expected more than that. i actually opted for prevailing market rate rather than a bid rate.

angelo82:
Thanks and when do you think account for successful bid will be debited?...............

Usually my banker debits my account on Thursday evening or Friday mornings..

Bamz:


Feelamong,

Oddly the results haven't been published and even most people on here seem not to have confirmed their investments.

I guess you're an insider.

bros I wish I was an insider...

unfortunately am just the guy next door that just knows how to disturb his account officer for information

Ok.I am waiting for mine to debit my account......

feelamong:


Usually my banker debits my account on Thursday evening or Friday mornings..

angelo82:
I bid for 14.1% also just to be on the safe side but 15% could have been a successful deal......Though 14.1% is better than 13 or 13.5% offer from my bank.........

SO WHAT DID YOU GET FROM YOUR BANK

Lost this bid, I will have to wait for 2 weeks....damn! 15.25% for 365 days is amazing...maybe I will go for 15% 364 days next time.

ummitoagirl:
Lost this bid, I will have to wait for 2 weeks....damn! 15.25% for 365 days is amazing...maybe I will go for 15% 364 days next time.

I just think it's safer going with the bank's rate.

I actually bid at 14.15% which is what I will get...............

unite4real:


SO WHAT DID YOU GET FROM YOUR BANK

Guys,
I am currently on the Central Bank webpage for government securities and I can see from what's published there that only 91 and 182 days NTB was issued for auction yesterday 18th February. I am worried as my account officer did not respond and my account was not debited for a rebid of 364 days that matured yesterday.
My question goes specifically to feelamong, please where did you get the 364 day rate as published on your post? On the CBN website,nothing was published for 364 day tenor and I don't know if that rate you published was specific to only the bank you use or a general stop-rate. My account officer is still not picking my calls!!!!

Basically, my bank gives you 3 rates and you chose any % you want, anyone that went with ecobank for 91 days probably lost out.

Bamz:



I just think it's safer going with the bank's rate.

Just checked and no 364. I got same rate in my inbox from my bank too though 15.25%. I will assume that's the general stop rate, incentive to go for 364 days I tell you.

Damolaskynov:
Guys,
I am currently on the Central Bank webpage for government securities and I can see from what's published there that only 91 and 182 days NTB was issued for auction yesterday 18th February. I am worried as my account officer did not respond and my account was not debited for a rebid of 364 days that matured yesterday.
My question goes specifically to feelamong, please where did you get the 364 day rate as published on your post? On the CBN website,nothing was published for 364 day tenor and I don't know if that rate you published was specific to only the bank you use or a general stop-rate. My account officer is still not picking my calls!!!!

The margin between my bid rate with the successful bid is too wide and I kind of regret not increasing my bid rate.......Since CBN adjusted the exchange rate band of naira to dollars,I supposed to increase my bid to 14.5% for 364days...........How can I get the successful bid as my rate?.....Please share if you have any idea........

ummitoagirl:
Just checked and no 364. I got same rate in my inbox from my bank too though 15.25%. I will assume that's the general stop rate, incentive to go for 364 days I tell you.

You got exactly 15.25% from your bank without specifying your desired rate? Which bank is this?

I missed out of the bid because the lady at the desk I filled the form forgot to scan it to their head office. I went to my bank yesterday to ask why my investment didn't fly, immediately she started apologising. Now I have to wait a fortnight for another. Hope the rates don't fall before then.

feelamong:


Dear XXXXXX,

Please see below the result of the last Primary Market Auction:

PRIMARY MARKET AUCTION RESULT

TENOR (DAYS) STOP RATE

91 10.75%

182 13.70%

364 15.25%



Bidders either won or lost at their own quotes. Therefore, quotes higher than CBN’s stop rates were not successful.

Thanks for this.
For some reasons, my Bank officer forgot to place my bid. I wonder what she meant by that. I was so pissed off.
However, i settled for their 183 days secondary market which is same as what the FG gave as discount.

DO they get a bonus by 'forgetting' to place your bid, while giving you two options of waiting for another bid or getting their secondary market?
This is the second time they are doing this. I think they get bonuses from this.

sammily:
I missed out of the bid because the lady at the desk I filled the form forgot to scan it to their head office. I went to my bank yesterday to ask why my investment didn't fly, immediately she started apologising. Now I have to wait a fortnight for another. Hope the rates don't fall before then.

Sent my instruction by 18:10 on February 17th, quite late I was told. However like chillisauce I had the option of Sec. Market which trades Monday and Thursday or so but it doesn't have up to the 364 tenor period option.

I'm waiting till March too.

While we wait, it may be expedient to increase the principal so it won't seem like the whole waiting was a bit of waste.

It must be intentional just for the sake of making you to buy from them.......As am writing you now,my account has not been debited and am suspecting the same thing...........I wonder what the excuse would be but if my bid was not placed,I am ready to quit transacting business with them.........I hate lawlessness from Corporations.....Very unethical practice.........

Chillisauce:


Thanks for this.
For some reasons, my Bank officer forgot to place my bid. I wonder what she meant by that. I was so pissed off.
However, i settled for their 183 days secondary market which is same as what the FG gave as discount.

DO they get a bonus by 'forgetting' to place your bid, while giving you two options of waiting for another bid or getting their secondary market?
This is the second time they are doing this. I think they get bonuses from this.

angelo82:
It must be intentional just for the sake of making you to buy from them.......As am writing you now,my account has not been debited and am suspecting the same thing...........I wonder what the excuse would be but if my bid was not placed,I am ready to quit transacting business with them.........I hate lawlessness from Corporations.....Very unethical practice.........

I really don't want to believe this.
Atimes, the customer care rep tells me to check the next day just to confirm it has been forwarded to my branch. These people have loads of work to execute. Next time, ask for the details of your account officer. Every Tuesday morning, before the Auction, call to confirm.

It's better not to assume anything.

angelo82:
It must be intentional just for the sake of making you to buy from them.......As am writing you now,my account has not been debited and am suspecting the same thing...........I wonder what the excuse would be but if my bid was not placed,I am ready to quit transacting business with them.........I hate lawlessness from Corporations.....Very unethical practice.........

Im sure it was. Actually the new bank officer told me she missed the auction but her colleagues told her to just sell the secondary market to me. She said she couldnt do that but had to call me to tell me.

Im now sure the previous bank officer always give me from secondary market as they made me not to specify on any rate, saying they all use the bank rate.

Very shameful act i tell you

Bamz:


I really don't want to believe this.
Atimes, the customer care rep tells me to check the next day just to confirm it has been forwarded to my branch. These people have loads of work to execute. Next time, ask for the details of your account officer. Every Tuesday morning, before the Auction, call to confirm.

It's better not to assume anything.

At bolded, of cos they do. But be rest assured all of them are after the profit they will make from your money.
Bankers and politicians are the same. Where do you think they get their profit from if not from their customers