chigo4u:

What do you mean there is no excess cash in the system, every devaluation leads to inflation, also the new minimum wage will also cause excess cash in the system, the CBN OMO bills was closed to local investors making them to divert to tbills causing the over subscriptions being recorded in tbills.
Now that OMO bills is receiving low subscriptions what will CBN do next? CBN said it devalued the naira to increase naira revenue and finance local spendings.. Budget is already running at deficit so they should get ready to print more naira..
You should know all these policies are making the naira lose more value.. Liquidity is very high and the dollar revenue is decreasing with the oil price fall.. Inflation is nearing 13% for Gods sake.. Looks like the current CBN don’t even care about the inflation numbers.

The surge in inflation is mainly attributable to recent border closure.
The biggest problem facing CBN now is shortage of dollar and dwindled reserves..
Raising interest rate on tbills will not solve those problems.

It is ironic that some people are more concerned about what they get from tbills than the over all heath of our economy.

pluto09:



The surge in inflation is mainly attributable to recent border closure.
The biggest problem facing CBN now is shortage of dollar and dwindled reserves..
Raising interest rate on tbills will not solve those problems.

It is ironic that some people are more concerned about what they get from tbills than the over all heath of our economy.

So should everyone start panic buying dollars instead? It’s the duty of the government to fix the economy not the masses. The government doesn’t feed anyone atleast in Nigeria

chigo4u:

So should everyone start panic buying dollars instead? It’s the duty of the government to fix the economy not the masses. The government doesn’t feed anyone atleast in Nigeria

That is what CBN is doing... Prioritising our needs.
As an import dependent economy, we need certain amount of dollars to survive..
We cannot print dollar but we have to earn it.
The major source of dollar is our oil and unfortunately we have no control over its price.
Anytime there is a drop in oil price, the country find herself in trouble and the CBN will try all manner of on orthodox means to enhance our survival.

Are we going to survive this economic downtime? Yes nah!

My problem with Nigeria is that we don't learn from the past, don't preempt possible scenarios either. You will see, when this period is over everything will go back to normal like nothing ever happened.

Until the day we will experience a complete and irreversible system failure.

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See as everywhere cold,lol

Made enquires at my regular FBN branch about the current tbills rate, and they told me they don't do tbills there for now, that fixed deposit is the availay option.

Oya what's Fixed deposit rate, 1.5-1.7% for 6minths, what that feck!.

I stir the ship to FBN quest (money market ) and I am getting 6.3% down from 6.5% last week I made an enquiry

No where nice atallz....

chukzyfcbb:
See as everywhere cold,lol

Made enquires at my regular FBN branch about the current tbills rate, and they told me they don't do tbills there for now, that fixed deposit is the availay option.

Oya what's Fixed deposit rate, 1.5-1.7% for 6minths, what that feck!.

I stir the ship to FBN quest (money market ) and I am getting 6.3% down from 6.5% last week I made an enquiry

No where nice atallz....

Na waoh

Guys if you're looking for how to die down funds for some time, go with the Fidelity Bank HYSA savings account.
This is the interest rate

HYSA
#100k - #999k = 4.45% p.a.
#1m - #4.999m = 4.95% p.a.
#5m and above = 5.45% p.a.

travelland:


I guess I should start watching minimalist videos on YouTube

perhaps

tukopy:
Guys if you're looking for how to die down funds for some time, go with the Fidelity Bank HYSA savings account.
This is the interest rate

HYSA
#100k - #999k = 4.45% p.a.
#1m - #4.999m = 4.95% p.a.
#5m and above = 5.45% p.a.

Quite higher than what other banks offer.

NIGHTLIFE100:
I believe all these nonsense is for people investing 1m or less, you can’t expect me to invest 10-15m in schemes like this. I’ll rather leave it in my account or manage Tbills useless rate. The most important thing is the safety of your capital forget interest first

Put it in a High Yield Savings Account

Fidelity Bank, one of my worst bank.

tukopy:


Put it in a High Yield Savings Account

LaCremy:
Which bank has the best rate now when it comes to Treasury Bill please?

I am also open to other viable and almost risk free investment plan... thanks

High Yield Savings Account,

Fidelity Bank.

9jatriot:
Fidelity Bank, one of my worst bank.

They had serious network issues in past months ehn.....
I think they got it fixed now though

That is just one of their issues. Concerning their network issue, imagine I tried to move 20k from that account to another account for use that day. After trying for more than 6 times and only one successfully going through. Imagine my shock later in the day for up to 6 transfers happening later, so if I was paying a vendor with a transfer that day, that is how I would have paid 120k for a service or product of 20k and then we will start speaking English for a refund.
That is just one of my many experiences. They are also one of the only banks that require you to physically submit a form at the bank for TB, Firstbank does that but you can also be sure that the transaction will go through since you do not have to put a rate. With Fidelity, your form will not be accepted if you do not put a rate, which means that if the rate doesn't work, your money will be in the bank for another 2 weeks and if your rate again doesn't work, you will keep trying thereby losing money and manhours of going back and forth to the bank. It was a torid experience for me, thank God I no longer have to do TB with them.

tukopy:


They had serious network issues in past months ehn.....
I think they got it fixed now though

Guys, please stay away from Eurobond for now. My capital is now -9.8%.

Sho, how is that possible. I thought eurobond had a locked rate? Or is it stanbic dollar fund?

IamR:
Guys, please stay away from Eurobond for now. My capital is now -9.8%.

Guys go and stock up

ojesymsym:
Sho, how is that possible. I thought eurobond had a locked rate? Or is it stanbic dollar fund?

No

IamR:

No

I invested 4.5 k in December, interest up till now is 67 dollars.

Not a great investment but you can't lose your capital.

Not sure how you're down in capital

LaCremy:
Which bank has the best rate now when it comes to Treasury Bill please?

I am also open to other viable and almost risk free investment plan... thanks

you can invest in VGIF managed by investment one. It has a guaranteed rate of 8.5%.

vgif is another form of mutual fund in the fixed income category.
Check my signature for more details on how to subscribe.

Pascopele:
Guys go and stock up

stock up what?

Maybe stock market shares

dandollar1:
stock up what?

Niggsrdumb:


I invested 4.5 k in December, interest up till now is 67 dollars.

Not a great investment but you can't lose your capital.

Not sure how you're down in capital

With FBNQUEST?

IamR:

With FBNQUEST?

Stanbic

Niggsrdumb:


Stanbic

Good for you. I am bleeding now. More than 1k$ gone already.

IamR:

Good for you. I am bleeding now. More than 1k$ gone already.

Which bank

Niggsrdumb:


Which bank

FBNQUEST

Which is more advisable to do in this uncertain time, treasury bills or euro bond? Heard it’s possibility for a government to default on euro bonds because they can’t print dollars , but can never default on domestic bonds or treasury bills , as they could just print more money in time of uncertainty.

Treasure bill rate is not encouraging at all.

Pls who can attest to crowdy vest(FarmCrowdy)

I have read little about them and wish to give it a trial but need people here to say or two things about them. Thank u.

WisemasterBizWd:
Treasure bill rate is not encouraging at all.

Pls who can attest to crowdy vest(FarmCrowdy)

I have read little about them and wish to give it a trial but need people here to say or two things about them. Thank u.

They are the Market Leaders, which also included Thrive Agric and Agropartnership

tukopy:


High Yield Savings Account,

Fidelity Bank.

Thanks, will look into it