Government Securities - Primary Market(NTB)

Auction Date:8/17/2016
Security Type:NTB
Tenor :91
Auction No:17-08-2016 - 91 Day
Auction-Primary Market
Maturity Date:11/17/2016
Total Subscription-76136.78
Total Successful-32436.51
Range Bid:12.0000 - 20.0000
Successful Bid Rates:12.0000 - 14.9900
Description Issue
Rate-14.99
True Yield 15.572
Amount Offered (mn) 76136.78
Auction Date:8/17/2016
Security Type:NTB
Tenor -182
Auction No:17-08-2016 - 182 Day
Auction:Primary Market
Maturity Date:2/16/2017
Total Subscription:198179.28
Total Successful:30000
Range Bid:11.0000 - 20.0000
Successful Bid Rates:11.0000 - 17.4800
Description Issue
Rate:17.48
True Yield:19.846
Amount Offered (mn):30000

Please am new here, and will like to invest in treasury bills. what I need is a tutor, will love to use any bank that is reliable and efficient. Already have my capital just want to start ASAP. Moreso, I reside in Abuja.

leke12:
Please am new here, and will like to invest in treasury bills. what I need is a tutor, will love to use any bank that is reliable and efficient. Already have my capital just want to start ASAP. Moreso, I reside in Abuja.

where do you bank?

speak to your banker or account Officer..

feelamong:


where do you bank?

speak to your banker or account Officer..

I use GTB and diamond don't know maybe they are good enough. don't mind banking with another bank.

feelamong:


where do you bank?

speak to your banker or account Officer..

Hey @feelamong, I got a successful bid rate of 16.4% for 182 tenor. I read someone on here sailed through with 17.25. Is 16.4 efficient enough or should I try a different institution to help me bid the next time?

a banking officer mailed after expressing my disappointment in GT for bidding with them that the bid did not sail tru. i am hugely disappointed with GT , i will likely transfer the amount to FBN and bid on my own terms since GTB are forming too busy or don't care about their customers on this subject matter. Mr Feelamong, which bank did you bid and was it with the bank rate? kindly answer.

EngineerT:
a banking officer mailed after expressing my disappointment in GT for bidding with them that the bid did not sail tru. i am hugely disappointed with GT , i will likely transfer the amount to FBN and bid on my own terms since GTB are forming too busy or don't care about their customers on this subject matter. Mr Feelamong, which bank did you bid and was it with the bank rate? kindly answer.

I did not bid in the last Auction......

The last time i did i went in with Fidelity securities cos i was selling shares to buy Tbills then..

Pls guyz when is the next primary auction day.

EngineerT:
a banking officer mailed after expressing my disappointment in GT for bidding with them that the bid did not sail tru. i am hugely disappointed with GT , i will likely transfer the amount to FBN and bid on my own terms since GTB are forming too busy or don't care about their customers on this subject matter. Mr Feelamong, which bank did you bid and was it with the bank rate? kindly answer.

you better check well, someone had earlier said FBN doesnt allow you to set your rate.

Please speak to the marketers there before you begin to transfer your funds.

even if they don't allow, aint their rates competitive enough? secondly, when i last inquired, once they perceive you know what you're doing, they let you be. that I can't say about GTB. would you believe i Started this process on Monday and went there 2 other days consecutively to ensure everything went well , yet nothing came out. i hate to waste my time on futility, not after having diligently studied and did my homework before venturing into this activity. if there is any GT B staff here, come and defend your institution because i am not taking this likely at all.. its so annoying.

Engineer you do not have to be angry, it is one of those things. Not all banks will inform you of the outcome, that is why you are here to get info that your bank may not even be aware of. Now that you know your bid did not sail through, kindly prepare for the next bid.

EngineerT:
even if they don't allow, aint their rates competitive enough? secondly, when i last inquired, once they perceive you know what you're doing, they let you be. that I can't say about GTB. would you believe i Started this process on Monday and went there 2 other days consecutively to ensure everything went well , yet nothing came out. i hate to waste my time on futility, not after having diligently studied and did my homework before venturing into this activity. if there is any GT B staff here, come and defend your institution because i am not taking this likely at all.. its so annoying.

Wednesday 31 August 2016

zamirikpo:
Pls guyz when is the next primary auction day.

EngineerT:
even if they don't allow, aint their rates competitive enough? secondly, when i last inquired, once they perceive you know what you're doing, they let you be. that I can't say about GTB. would you believe i Started this process on Monday and went there 2 other days consecutively to ensure everything went well , yet nothing came out. i hate to waste my time on futility, not after having diligently studied and did my homework before venturing into this activity. if there is any GT B staff here, come and defend your institution because i am not taking this likely at all.. its so annoying.

Engineer..take am easy....

Just vote with ya feet...look for another account officer in the bank that understands the Tbills well and deal with him

zamirikpo:
Pls guyz when is the next primary auction day.

its on the 1st of September..

but remember to throw in ur bids latest 12 noon on the 30th of Aug

@feelamong
Pls, I did my treasury bill yesterday at diamond bank at 14% for 119 days
But the info am getting here talks about 91 days and 182 days. I dont know how they come about 119days
someone should please enlighten me

NB: I didn't know about the TB before. I went for a fixed deposit and the officer told me to go for TB for 119days at 14%
since its far better than Fixed deposit.

[quote author=talktrue1 post=48623461]@feelamong
Pls, I did my treasury bill yesterday at diamond bank at 14% for 119 days
But the info am getting here talks about 91 days and 182 days. I dont know how they come about 119days
someone should please enlighten me

NB: I didn't know about the TB before. I went for a fixed deposit and the officer told me to go for TB for 119days at 14%
since its far better than Fixed deposit.[/quote

The TBills sold you were from the secondary market. You can only buy from the primary market through auctions on the bidding dates, the next being September 1 2016

Ryder306:



Sir, have u been debited by stanbic? am still waiting for mine.....abi should i be worried

@Ryder306,

I just got debited today around 12 noon but my account officer sent me an sms yesterday afternoon on the successful bid.

thanks for the date @feelamong and u quite rightly said it ,my bids must reach on or before the 30th. please i have a request, can u please send in viable rates on or before the 29th, so we can act on it and avoid missing out. please....i know i speak the mind of so many. ur rates r spot on .. so please...........if i miss this next one it would be the 3rd auction miss..................


please ,special request ..............thanks....

zamirikpo:
thanks for the date @feelamong and u quite rightly said it ,my bids must reach on or before the 30th. please i have a request, can u please send in viable rates on or before the 29th, so we can act on it and avoid missing out. please....i know i speak the mind of so many. ur rates r spot on .. so please...........if i miss this next one it would be the 3rd auction miss..................


please ,special request ..............thanks....

No wahala...Just remain tuned to this thread...

But come o,...if your rates miss the next auction; na to carry you go bar beach go wash your head o! Cos E be like say some people from your village no want ur progress..

[quote author=tunene66 post=48623665][/quote]
Thanks. But my worry is why 119 days instead of 91 days

Feelamong, that is another risk to bid too early or you suggest I process my instruction and to go with the bank prevailing rate at the time of bidding. Well, paying close attention, I seem to realise no one has successfully bid with GTB except fidelity, diamond and 1stbank. So lemme go prepare and place my position with 1stbank by Monday next week. Happy weekend y'all!

talktrue1:

Thanks. But my worry is why 119 days instead of 91 days

from the secondary market you can get any number of days. You can get for example 277 days, 311 days. even 38days you can get. Primary auction is where you have only 3 different tenors which are 91, 182 and 364 days.

I will like to clarify something

If I bid at 91 days for 14% and CBN's rate is at a range of 12%-18% for that 91 days.

Will I be buying at the 14% or the 18%?

Thanks

naijatoday:
I will like to clarify something

If I bid at 91 days for 14% and CBN's rate is at a range of 12%-18% for that 91 days.

Will I be buying at the 14% or the 18%?

Thanks

You will be served on your bid rate.

Definitely GTB.
Please what will one get for 182 days in the secondary market?

manlikegb:



Hey @feelamong, I got a successful bid rate of 16.4% for 182 tenor. I read someone on here sailed through with 17.25. Is 16.4 efficient enough or should I try a different institution to help me bid the next time?

quertyquack:
Definitely GTB.
Please what will one get for 182 days in the secondary market?

I know of some banks selling 182 days at 15% in the secondary market

oga feelamong can I get a 300 days and above at the secondary market right now?

EngineerT:


You will be served on your bid rate.

Thanks

To aid my understanding,I'll like to paint a scenario about buying in the next a auction.

I was told by stanbic d 91days rate for d next auction is 14.99%. I plan getting 200k for instance on the day of maturity.

From my understanding, I'll be buying with 170020 naira to get d 200k at the end of the 91days.

Pls my ogas here, make una tell me whether my analysis is right cos I plan buying in the next offer.

Thanks

How can your interest be more than your principal?
Check your numbers again.

debeey87:
To aid my understanding,I'll like to paint a scenario about buying in the next a auction.

I was told by stanbic d 91days rate for d next auction is 14.99%. I plan getting 200k for instance on the day of maturity.

From my understanding, I'll be buying with 170020 naira to get d 200k at the end of the 91days.

Pls my ogas here, make una tell me whether my analysis is right cos I plan buying in the next offer.

Thanks

That's why I didn't complain when they (GTB) ignored my bid of 17.5% for 182 days and forced their own bid of 16.4% down my throat. The difference is about 20k give or take. Better than idle funds for 14 days.

feelamong:


I know of some banks selling 182 days at 15% in the secondary market

feelamong:


I have never used a bank for my secondary market transactions...

I have been using Fidelity securities ltd for that

bro abeg enlighten me more about this Fidelity securities. i like invest too. and also I fit top up my investment anytime like dat of mutual funds ??