afolayangs: i fink TB is ok. But make sure u use non COT acct like savings

Reyus:

I think Zenith bank may still charge you COT even if you use savings account.
They charged me COT for making a interbank transfer through my savings account but GT bank does not take COT for interbank transfers from savings account

Raymondenyi: Pls can someone please enlighten a brother lucidly on wat treasury bills are? Pls I really need ur help, tnx in advance sire.

dagr8:
[size=15pt]Try reading through dis thread

https://www.nairaland.com/878880/treasury-bills-nigeria [/size]

Raymondenyi:
Tried it, noting, could not understand nothing

Raymondenyi: What are treasury bills?

Raymondenyi: Wow!!! U'v done a very good job, more than enof, am very much interested, how do I go about it. Thanx 1ce again

Chekitaut: What will be interest on N6m, when i discuss with GTBank CC agent i was told CBN determine the interest rate and from look of thing it will not be stable...any one with idea of interest rate?

dagr8:

[size=15pt]Yes the interest rates are not stable.
Before auction, there will be a notice. This notice is published on CBN website (www.cenbank.org) and it is also advertised in the major newspapers, typically a week ahead of the auctions.
Primary auctions holds twice every month on Wednesdays, while the issuance and settlement is effected the subsequent Thursday.

The Auction is conducted through a competitive bid( all investors including YOU will bid for it through a primary dealer), where you have to specify the price,in terms of percentage yield that you are willing to pay for the T-bill. For instance u can make your bid to be 11%. Therefore you may or may not be allotted the securities after the auction, depending on how good your price bid is relative to the prices submitted by all the other competitive bidders. A lower yield represents a more competitive bid as the bidder is indicating that he/she will accept a lower interest rate.

The highest accepted yield of successful competitive bids submitted at the auction is equivalent to the discount rate.
From my example above, if your bid was 11% and at the end of d day the highest accepted bid was 12%....then u are lucky cos you will get the TB at 12% but if the highest accepted yield be 10% then you will not be allotted the TB. In other words, you are not forced to take a % yield lower than your expectation.


The stop rate at the auction on Wednesday 27/03/2013 was as follows

91 DAYS --------11%


182 DAYS -------11.15%
the one before this was
91 DAYS --------10.45%

182 DAYS--------10.65%

364 DAYS ----------10.76%
[/size]

Chekitaut: what is interesting with your information is the security accept of it but the interest is poor...If the bill thing is with better interest rate 100,000naira from 50,000,000 citizen of this nation investing it on Oil and gas is able to build us the biggest refinery and we make good profit from it...I think CBN can still do better about the interest rate...to me personally is too low.

dagr8:

[size=15pt]LOL...OGA is not my information o...we are talking TBills versus fixed deposit.

Of course you choose what u want to invest ur money in...no one is forcing you...if you av better options you can always take them...
We got people who are stranded as to what they can use their money for...and they ended up putting the money in fixed deposit...it is obvious that TB is better option than fixed deposit...and the reason why i came to the thread is because it is talking about fixed deposit and Tbills...and Raymondenyi caused me to start the story... [/size]

Chekitaut: what is interesting with your information ting it on Oil and gas is able to build us the biggest refinery and we make good profit from it...I think CBN can still do better about the interest rate...to me personally is too low.

dagr8:

[size=15pt]Yes the interest rates are not stable.
Before auction, there will be a notice. This notice is published on CBN website (www.cenbank.org) and it is also advertised in the major newspapers, typically a week ahead of the auctions.
Primary auctions holds twice every month on Wednesdays, while the issuance and settlement is effected the subsequent Thursday.

The Auction is conducted through a competitive bid( all investors including YOU will bid for it through a primary dealer), where you have to specify the price,in terms of percentage yield that you are willing to pay for the T-bill. For instance u can make your bid to be 11%. Therefore you may or may not be allotted the securities after the auction, depending on how good your price bid is relative to the prices submitted by all the other competitive bidders. A lower yield represents a more competitive bid as the bidder is indicating that he/she will accept a lower interest rate.

The highest accepted yield of successful competitive bids submitted at the auction is equivalent to the discount rate.
From my example above, if your bid was 11% and at the end of d day the highest accepted bid was 12%....then u are lucky cos you will get the TB at 12% but if the highest accepted yield be 10% then you will not be allotted the TB. In other words, you are not forced to take a % yield lower than your expectation.


The stop rate at the auction on Wednesday 27/03/2013 was as follows

91 DAYS --------11%


182 DAYS -------11.15%
the one before this was
91 DAYS --------10.45%

182 DAYS--------10.65%

364 DAYS ----------10.76%
[/size]

ngnetbiz:



@dagr8,you really break this down here,but you mentioned that is the bid is 10percent,the bidder will end up not getting anything,so what now happen to the bidder money for the period of 91days,180,365 days he or she might have invested,or will the money be returned to him immediately before the bid if he or she lost out.

chris.a:
..ok..dagr8...thumbs up 4ur update here..i have 1million to spare for the treasury bills stuff for 3 months ..what percentage do u think i can hit..and where do i visit to process dis asap..any particular days too?..tanx again..

euphoria:

With GTBank, you can't do interbank transfer from a Savings account.

euphoria:

With GTBank, you can't do interbank transfer from a Savings account.

yogun:

Who says?

U sure can transfer moni to gtbank n oda banks from your savings acct. U need to be physically present, das all