I dunno what’s going on with our MMF sha. Quantum remits interests daily (you see this via the app) but in the last few weeks, it’s been lagging. Like up until now, I’ve not seen my interest for yesterday. Hope nothing? LOL

awesomeJ:


1. Except you find someone that will buy the bills from you below that 18.8%, liquidating won't make any difference.

2. 352-day Tbills at 15.5% discount has about 18.3% yield which is close enough to the MMF yield.


Since you actually bought in March, my opinion is that that 15.5% deal you took wasn't fair enough as rates for long dated bills were already in the 20% levels.

Again, liquidating the bills to seek 18.8% in MMF isn't worth the effort as you're already getting over 18% yield.

sigh! Ok then. Thank you so much for your input. I appreciate

Itsrm:


Your net gain will be less than 100k. Not worth it in my view.

ok thanks for your input

awesomeJ:


I don't know when exactly you bought in February, but I'll assume late February implying that you've held for 90 days.

If the bank decides to discount it at 22%,
Term to maturity is 262 days.
Discount to the new buyer should be 5000000*0.22*262/366 = 790k approximately.

This means the new buyer only pays you 4,210,000.


At the time of purchase, you must have gotten a discount of about 747k meaning you were debited 4,253,000.


So your investment of 4,253,000 in February will now become 4,210,000 now, implying a loss on investment of about 43k.


Kindly note:
1. There are fees that may add up to increase this loss amount.
2. The actual loss may be slightly different since you didn't state the exact date you invested and I don't know the exact date you'll liquidate. But I think 90 days is a good approximation.

3. The primary reason you're losing money here is cos you bought at a low rate(15.5) and prevailing rates are now higher.

4. If the bank doesn't request for a discount as high as 22%, your losses will be reduced, but the higher the discount you're offering, the easier it is to get a buyer and the faster the liquidation.

the main reason I want to sell is that my mutual funds is currently giving me 18.80% or so. Is it worth it to sell off the treasury bills and put it in mutual funds?

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awesomeJ:


I don't know when exactly you bought in February, but I'll assume late February implying that you've held for 90 days.

If the bank decides to discount it at 22%,
Term to maturity is 262 days.
Discount to the new buyer should be 5000000*0.22*262/366 = 790k approximately.

This means the new buyer only pays you 4,210,000.


At the time of purchase, you must have gotten a discount of about 747k meaning you were debited 4,253,000.


So your investment of 4,253,000 in February will now become 4,210,000 now, implying a loss on investment of about 43k.


Kindly note:
1. There are fees that may add up to increase this loss amount.
2. The actual loss may be slightly different since you didn't state the exact date you invested and I don't know the exact date you'll liquidate. But I think 90 days is a good approximation.

3. The primary reason you're losing money here is cos you bought at a low rate(15.5) and prevailing rates are now higher.

4. If the bank doesn't request for a discount as high as 22%, your losses will be reduced, but the higher the discount you're offering, the easier it is to get a buyer and the faster the liquidation.

thank you so much for your analysis. Pls find attached the certificate I was issued

tabithababy:
. Please is this treasury bills

yes but secondary market rate

awesomeJ:


Depends on the tenor.
If it's around 91 days, they'll be expecting to discount your bills at say 19%.
Basically, the going rate plus 1-2% markup.

You may lose part of your principal of you haven't held for long.

If you want more specific analysis, give more info about the investment, we'll run the numbers for you, then you can make an informed decision

ok I did 5million at 15.5% for 352 days with zenith bank

Pls if I bought secondary market tbills at 15.5% in February, assuming I’m selling it now, like how much will it go for?

Misterc:

These are well brought up kids.... Their father is blessed to have such angels.....
If na naija girls now.... Dem for don dey form nonsense.....

they are well brought up because their dad is not Nigerian

Odunharry:

Seems you opted for upfront interest payment. Backend is higher.

Kai!

chukzyfcbb:

15% at secondary market.

Dem don rip you o

enque:


Of course you would have.

Damn!! 😭😭😭

enque:
Are you sure it's not secondary tbills you bought?

Yes oo. It's secondary. Could I have been able to buy primary with that amount?

kristien4:
Was anyone successful at the week's auction, what bank and rate ?

Mine was successful but I put in 5m for 364 days and I was credited 745k there abouts. However, my certificate came with the rates at 15.5% and the tenor 354 days or so. Am I missing something??

Nakedman:


Mutual fund is lacking behind with thier 11-12%. Even FGN saving Bonds is now 15-16%. i got a memo this morning.

Quantum Zeniths mutual funds is 13% or more sef at the moment

Wow it's good to read reviews sha because I really wanted to use them. Bumping this for someone else

Bringing a customer’s complaint to a logical and satisfactory conclusion

Enskynelson:

Yes, u can continue. You can do a change of study centre too.

Thank you for your response

Pls can I resume an MPA program I 'paused' in 2019? If yes, I've also changed location so how do I change my study center too? Thank you

Well done OP. Im rooting for you as I'm on the same journey but less stringent. Best wishes to us

tega88:
Any Assistant Manager got a mail?? I dey try check sontin abeg

Asst mgr, no mail yet too

Simongm:

Good morning, kindly share the mail address. I want to request for change of venue too, thank you.

careers@nerc.gov.ng

bebene:


I am also writing in Kaduna

ok but are you traveling from abuja?

Pls is anyone going from Abuja to Kaduna for the next stage? In the meantime though, I sent them a mail requesting for change of venue.....if it's possible

Mlayidi:


I want to apply for change of venue too.

How can they choose exam venue for us

same here oo. I pray we can change because with this insecurity, I wouldn't want to travel to Kaduna ooo

Can't log in too

AbbaWali:
Hello fam, this is what I see on my dashboard, is everyone else dashboard showing same thing?

same thing I have on my dashboard o

Not a story but my personal experience of buying 2500g peak milk at 3500-3800 before Buhari and currently buying at 15000!!!!!

For always being by me especially when I fell ill , for being outside the theater when I had a lumpectomy in SS1, for validating my dreams and making me the strong female I am today, I wish you a happy father's day.

Despite the fact that I'm a lady, I admired how responsible you were and it defined how I am currently running my home. Thank you for being a shining example sir. I love you