Hi, any one with Stanbic's secondary rates today? Thanks in advance.

yomazon:
hello, distinguished investors

I want to liquidate my t-bills, does anyone know how long it will take. My account officer at gtbank said it takes a long time because t-bills are difficult to liquidate.

Any useful insight is appreciated.

It doesn't take long, not supposed to take more than 3- 5 days, because people bid everyday.the issue is that most of the bank officers know little or nothing about tbill, or they are just too lazy to initiate the process, which usually make them give u false information.
I once requested for liquidation of my tbillz, the customer care lady went to inquire and came back to tell me that tbill can't be liquidated until it drops at maturity. I simply told her it's news to me , as it's not my 1st time of doing so (just a format not 2 act naive, as it was my 1st time )
On realizing this she looked confused, went to make more enquiry, after which they ask me to make a written request, which i did.
After 72hrs i didn't get any message 4rm them, i mailed
Their customer care,i got a response immediately., and was credited on the 5th day.

EMDIEY:

It doesn't take long, not supposed to take more than 3- 5 days, because people bid everyday.the issue is that most of the bank officers know little or nothing about tbill, or they are just too lazy to initiate the process, which usually make them give u false information.
I once requested for liquidation of my tbillz, the customer care lady went to inquire and came back to tell me that tbill can't be liquidated until it drops at maturity. I simply told her it's news to me , as it's not my 1st time of doing so (just a format not 2 act naive, as it was my 1st time )
On realizing this she looked confused, went to make more enquiry, after which they ask me to make a written request, which i did.
After 72hrs i didn't get any message 4rm them, i mailed
Their customer care,i got a response immediately., and was credited on the 5th day.

Did you loss anything?

Liadi2:

Please sir can I have your number please i want to ask some questions

ask UR questions here so that others can benefit

Liadi2:

Please wic one is the best among the banks for short days investment

stannic ibt or union bank the normally give me 10.8% at least for 40 to 91 days

EMDIEY:

It doesn't take long, not supposed to take more than 3- 5 days, because people bid everyday.the issue is that most of the bank officers know little or nothing about tbill, or they are just too lazy to initiate the process, which usually make them give u false information.
I once requested for liquidation of my tbillz, the customer care lady went to inquire and came back to tell me that tbill can't be liquidated until it drops at maturity. I simply told her it's news to me , as it's not my 1st time of doing so (just a format not 2 act naive, as it was my 1st time )
On realizing this she looked confused, went to make more enquiry, after which they ask me to make a written request, which i did.
After 72hrs i didn't get any message 4rm them, i mailed
Their customer care,i got a response immediately., and was credited on the 5th day.

Thank you, this was very helpful.

I went to gtb to invest in tbills secondary market, it's more than a week since I wrote to them but nothing has been done. Does it take long to invest in secondary market in banks?

OgogoroFreak:
Did you loss anything?

No not really in actial sense of 'loss', of course u are not going to get exactly ur original capital, except if u didn't receive ur discounted interest upfront.
What u loose is the interest for the months u are not able to complete due to liquidation, which u must have received upfront. This amount will be subtracted from the main capital.
So what u will receive will be slightly less than what u invested. But if u do the maths adding ur upfront interest to your liquidated capital, u will see that u actually made some profit.
I hope this helps.

blissfulsoul:
I went to gtb to invest in tbills secondary market, it's more than a week since I wrote to them but nothing has been done. Does it take long to invest in secondary market in banks?

Your written instruction must have been mistakenly treated for biding through primary auction.
Investments through secondary markets are on a daily basis. What you only need to do is to request for what the bank has at a particular day of your visit and then make your choice in terms of tenor and rates from the list given. Give the bank a written instruction as to the choice you made from the available list and make sure you have enough funds that covers the transaction.

I went to a GTB bank branch and the customer service person didnt explain this T billz well

he just gave me these details that the next one starts next week Wednesday and also
91 days is 10.29 percent, 182 days -12.6 percent

To cut the long story short can u please explain what primary market and secondary market is i see those terms flying around on here
H
then with that rate GTBank gave me, If i invest 5.5 million for 182 days what will be the return investment
Thanks for your feedback

Read previous pages .

omidan21:

I went to a GTB bank branch and the customer service person didnt explain this T billz well

he just gave me these details that the next one starts next week Wednesday and also
91 days is 10.29 percent, 182 days -12.6 percent

To cut the long story short can u please explain what primary market and secondary market is i see those terms flying around on here
H
then with that rate GTBank gave me, If i invest 5.5 million for 182 days what will be the return investment
Thanks for your feedback

omidan21:

I went to a GTB bank branch and the customer service person didnt explain this T billz well

he just gave me these details that the next one starts next week Wednesday and also
91 days is 10.29 percent, 182 days -12.6 percent

To cut the long story short can u please explain what primary market and secondary market is i see those terms flying around on here
H
then with that rate GTBank gave me, If i invest 5.5 million for 182 days what will be the return investment
Thanks for your feedback

Start reading from page one.

ClitRaider:

The profit ain't worth it.
I gave up on TBills.

Try fixed deposits, you get between 12.5% to 19%. Depending on amount and tenure.

omidan21:

I went to a GTB bank branch and the customer service person didnt explain this T billz well

he just gave me these details that the next one starts next week Wednesday and also
91 days is 10.29 percent, 182 days -12.6 percent

To cut the long story short can u please explain what primary market and secondary market is i see those terms flying around on here
H
then with that rate GTBank gave me, If i invest 5.5 million for 182 days what will be the return investment
Thanks for your feedback

So you have 5.5m to invest, Tbill was not well expained to you at GTB and you have been seeing primary market and secondary market flying around here and yet you want an explanation for them from somebody abi.

I want to believe that since you know how to login into Nairaland and read posts, you must have heard of 'google' or you must have seen the 'search' feature on this Nairaland thread. Try to make use of any of them first. This is a shorter way to know what they mean than reading from page 1.

obiZEAL:


Try fixed deposits, you get between 12.5% to 19%. Depending on amount and tenure.

You must be living in a fools paradise.

In this Nigeria?

Please tell me the bank that pays this.

Possibly a link to the source of this info.

Else you should delete this post. You could be deceiving a lot of people.

obiZEAL:


Try fixed deposits, you get between 12.5% to 19%. Depending on amount and tenure.

Oh

obiZEAL:


Try fixed deposits, you get between 12.5% to 19%. Depending on amount and tenure.

Impossicant.

All you need to know about treasury bills in Nigeria with practical example

http://biznaira.com/nigerian-treasury-bills/

Guruindahouse:
Hello house, I want to liquidate my tbills with Zenith bank.

How much can someone guess I am gonna lose on Tbills of 3.2m naira that's is suppose to be matured on 29/8/2019. Its a six-month tbill of 12.5% rate. I just need some figure that I will get back once I liquidate it.

Please do you have an update yet?..considering liquidating some funds as well..Kindly update with the process and how it goes.Thanks

OgogoroFreak:
You must be living in a fools paradise.

I know the company he works for. I have 2 FDs with them, with a (fixed) savings account in one of their subsidiaries. I just recently liquidated one of the FDs where I got 16% for six months.

NB: I have never met him, only got to know when he mentioned the firm's name sometime in 2018. Apparently, 2 of my friends work there.

Acidosis:


I know the company he works for. I have 2 FDs with them, with a (fixed) savings account in one of their subsidiaries. I just recently liquidated one of the FDs where I got 16% for six months.

NB: I have never met him, only got to know when he mentioned the firm's name sometime in 2018. Apparently, 2 of my friends work there.

Ok, it's one "firm" like that, not a bank. Some of those kind of firms can even give 50% - 100% sef. Something like those wonder Banks.

Thanks, we are not interested. We are very OK with tbills. That's why we are on this very thread.

OgogoroFreak:
Ok, it's one "firm" like that, not a bank. Some of those kind of firm can even give 50% - 100% sef. Something like those wonder Banks.

Thanks, we are not interested. We are very OK with tbills. That's why we are on this very thread.

I'm not convincing anyone to leave TBills, just stating the obvious that it is very possible to get good returns from a financial institution, as I'm a witness.

BTW, you'd notice I didn't mention the name so I'm not trying to attract customers. But contrary to what you think, it is a group of companies (plc) based in Marina, and among the companies under the group is an investment bank and a MFB (licensed by CBN). Note: the MFB is not the regular road side MFB, this one is fully digitized, with ATM, internet banking, you can receive and transfer payments through any internet banking platform.

While I understand your view, you would agree with me that your notion is very wrong in the sense it encourages the radical extortions in the banking industry. If Buhari and his dying economy can you give you 14% on TBs, there is no reason to settle for 3-4% from FirstBank.

Don't misunderstand my intention o. I have nothing against TBills, it is the reason I'm on this thread.

Acidosis:


I'm not convincing anyone to leave TBills, just stating the obvious that it is very possible to get good returns from a financial institution, as I'm a witness.

BTW, you'd notice I didn't mention the name so I'm not trying to attract customers. But contrary to what you think, it is a group of companies (plc) based in Marina, and among the companies under the group is an investment bank and a MFB (licensed by CBN). Note: the MFB is not the regular road side MFB, this one is fully digitized, with ATM, internet banking, you can receive and transfer payments through any internet banking platform.

While I understand your view, you would agree with me that your notion is very wrong in the sense it encourages the radical extortions in the banking industry. If Buhari and his dying economy can you give you 14% on TBs, there is no reason to settle for 3-4% from FirstBank.

Don't misunderstand my intention o. I have nothing against TBills, it is the reason I'm on this thread.

Okay, how does this "one company like that" make such high interest to be paying upto 19%? Plus the money they would make for themselves from your capital o.

Do they make this money from another economy that is not Buhari's dying economy?

OgogoroFreak:
Okay, how does this "one company like that" make such high interest to be paying upto 19%? Plus the money they would make for themselves from your capital o.

Do they make money from another economy that is not Buhari's dying economy?

May be we should begin by knowing the current interest rate on loans from a regular bank (let's not talk about their investments in oil & gas, real estate/property sectors).

If I take a N1m loan from First bank or GTB, how much do you think I will pay after a year?

I'm about to convert £90,000 to invest in TB, as much as the interest in TB is tempting, i prefer my hard currency anyday, anytime.

The value of my raw cash could slighly go up or crash by 50% value if these idiots that occupy CBN make a wrong move again.

EuroBonds isn't in the plate as i hold currency in GBP not USD.

TotoNaRubber:
I'm about to convert £90,000 to invest in TB, as much as the interest in TB is tempting, i prefer my hard currency anyday, anytime.

The value of my raw cash could slighly go up or crash by 50% value if these idiots that occupy CBN make a wrong move again.

EuroBonds isn't in the plate as i hold currency in GBP not USD.

Do the maths:
Treasury bills ~ £90000 x 465 = N41,850,000 x 0.125 = N5,231,250

Eurobond ~ £90000 x 0.08 = £7200 x 465 = N3,348,000


Which do you prefer all things being equal?

TotoNaRubber:
I'm about to convert £90,000 to invest in TB, as much as the interest in TB is tempting, i prefer my hard currency anyday, anytime.

The value of my raw cash could slighly go up or crash by 50% value if these idiots that occupy CBN make a wrong move again.

EuroBonds isn't in the plate as i hold currency in GBP not USD.

If you prefer your hard currency any day any time, why don't you invest it in Tbills of the country you reside in? (I am assuming you stay abroad?)

If that is not an option, then converting to USD and doing Eurobonds is your best bet. All it takes for the naira to crash is fall in oil prices. It will take a lot more for the USD to crash, even against the GBP you have.

So the question you should be asking yourself, how soon will you need the money? Or what part will you be needing soon? If you will be needing like 10% soon and want to invest the 90% for a mid to long term, then leave that 10% in Tbills and 90% in Eurobond, overtime you can review the % you want to share it in.

Forget the current yields of Tbills and Eurobond, when naira is hit hard, all this yields become insignificant. Apart from those who have been compounding for a while, recent investors will suffer hits the most.

It's your money, do your research and make your choice.

TotoNaRubber:
I'm about to convert £90,000 to invest in TB, as much as the interest in TB is tempting, i prefer my hard currency anyday, anytime.

The value of my raw cash could slighly go up or crash by 50% value if these idiots that occupy CBN make a wrong move again.

EuroBonds isn't in the plate as i hold currency in GBP not USD.

Euro Bond is sold in USD and not Euro.

Desanta:


Euro Bond is sold in USD and not Euro.

If you read his statement well, you will see he already knows this.

pls when is the next auction date? I mean the primary market?

Hello room..please can anyone confirm how you can bid for Tbills from the primary market. Do I just go to my bank and insist on primary or is there another way to do it..thanks