Lastly, people keep mentioning diesel like its a silver bullet. Yes, its very important but in 2024 moreso with our population growth, refining oil we produce and stopping there is hardly going to put us on the world stage. We need same self sufficiency in agriculture, textile, basic tech, transport all occuring at same time



@jedisco
Nice you know.This things are not sole responsibility of elected government. It falls both to you and I.The question is what effort have we equally contributed individually. It is always easy to sit at the comfort of our rooms and point finger

Please what the current tb rate

Streetinvestor2:
I don't know what you mean being emotional
All I said is simple,naira had no business going above #750 after the government floating because that was the fair/stable price and true market value because nothing changed in the economy. And if we look at it now because of less demand it should be less than #750.

Therfore I believe the government is reaping us off on anything above #750 black market price they met it

The government is doing the right thing even if thr approach could be better though I am not a fan of apc/tinubu

I did not follow the discussion that led you here, but I think before floating the naira, the Emefiele-led CBN was fixing the naira/dollar rate to whatever they wanted, and the rate this administration met was not truly representative of the value of the naira back then after Emefiele minted naira like pure water.

presiade:


I did not follow the discussion that led you here, but I think before floating the naira, the Emefiele-led CBN was fixing the naira/dollar rate to whatever they wanted, and the rate this administration met was not truly representative of the value of the naira back then after Emefiele minted naira like pure water.

Are you saying Emefiele was fixing the black market price than that was around #750.I beg to disagree on that.The price was the aboki price on the street for everyone to buy

Streetinvestor2:
Are you saying Emefiele was fixing the black market price than that was around #750.I beg to disagree on that.The price was the aboki price on the street for everyone to buy

Remember that the Emefiele-led CBN gave the Abokis (BDC) weekly or biweekly dollar supplies. That way, they indirectly controlled the black market rate too.

presiade:

Remember that the Emefiele-led CBN gave the Abokis (BDC) weekly or biweekly dollar supplies. That way, they indirectly controlled the black market rate too.

You are right as per cbn selling to bdc.The cbn could not determine the price of dollars on the street because the amount sold on the street compared to the amount from cbn was nothing. The majority of dollars on the street at 700/750 was money from diasporans that never came through official means.Even the banks whr selling on the street. To me that was the true value of naira/dollars. The price on the street was a reflection of demand and supply

Streetinvestor2:
You are right as per cbn selling to bdc.The cbn could not determine the price of dollars on the street because the amount sold on the street compared to the amount from cbn was nothing. The majority of dollars on the street at 700/750 was money from diasporans that never came through official means.Even the banks whr selling on the street. To me that was the true value of naira/dollars. The price on the street was a reflection of demand and supply

The below buttress ur Point..
https://businessday.ng/news/article/data-shows-cbn-not-defending-naira-with-fx-reserves/

Here We have it..

Good morning guys,
I called my account officer in Fidelity bank and he told me that there is a new policy from CBN that one can only invest from 50 million naira in treasury bill. I find that difficult to believe . Please can anyone confirm this information please?

Gabrielclint:
Good morning guys,
I called my account officer in Fidelity bank and he told me that there is a new policy from CBN that one can only invest from 50 million naira in treasury bill. I find that difficult to believe . Please can anyone confirm this information please?

That's if you're bidding with your own rate. You can buy with less. The bank pulls funds from you and I and submits a bid on everyone's behalf.

Gabrielclint:
Good morning guys,
I called my account officer in Fidelity bank and he told me that there is a new policy from CBN that one can only invest from 50 million naira in treasury bill. I find that difficult to believe . Please can anyone confirm this information please?

Tell the officer you will move your funds to another bank if they do not allocate some of their successful primary market bid to you. That should do the magic. TBills do not count towards meeting their targets as account officers, so some try to prevent you from investing in them.

Gabrielclint:
Good morning guys,
I called my account officer in Fidelity bank and he told me that there is a new policy from CBN that one can only invest from 50 million naira in treasury bill. I find that difficult to believe . Please can anyone confirm this information please?

It's not new so it's no news. It has been like that for a while now for those bidding by themselves. However, if you are to go with the banks bid, you can do that from either 100k, 500k or 1M depending on the bank.

Be aware that most accounts officers would rather want you to collect loan, leave your money in the account so they can meet target or do a mortgage where they could get percentage. They somehow abhor investment that's of no benefit to them. So, if you notice something like this, just go and initiate it from another branch or your bank or move your money to a more investment friendly one.

Streetinvestor2:
I don't know what you mean being emotional
All I said is simple,naira had no business going above #750 after the government floating because that was the fair/stable price and true market value because nothing changed in the economy. And if we look at it now because of less demand it should be less than #750.

Therfore I believe the government is reaping us off on anything above #750 black market price they met it

The government is doing the right thing even if thr approach could be better though I am not a fan of apc/tinubu

That's why they are reluctant/hesitant in implementing the new living wage, instead they choose to and are eager to return to the old rate of around N550.

Gabrielclint:
Good morning guys,
I called my account officer in Fidelity bank and he told me that there is a new policy from CBN that one can only invest from 50 million naira in treasury bill. I find that difficult to believe . Please can anyone confirm this information please?

Am using N0 3 ( third) account officer this year because of issues like this. Change the account officer or go to another bank

Guys, and ladies,

I am trying to invest in TB. Can you list the banks that offers the best rate?

Seems money market has crashed and no longer profitable. Trying to set MMF up but going to forgoe it and focus on Treasury Bill.

ojesymsym:
This values are usually not static and so mostly only the bank can give you what they have available as at the time they send you the mail. Sometimes, by the time you are ready that particular one you are interested in may no longer be available, you may now have a better offer or one that is less than what you were previously offered.

But why do you guys not also use iinvest? here you get to see the different offers and quantities available in real time so making a choice becomes easy. You get to see fixed deposit, TB, and commercial papers in one platform.

Bro

This I-invest app, can you drop a snap pic of the actual app let me download?

Is the website I-invest NG. com?

Yes correct, that should also allow you access the phone app.

DAramis:


Bro

This I-invest app, can you drop a snap pic of the actual app let me download?

Is the website[b] I-invest NG. com[/b]?

Nakedman:
Todays Auction

Please can you help out with how the true yeild is calculated. Thanks

ojesymsym:
Yes correct, that should also allow you access the phone app.

Okay, thanks for the confirmation.

I will check them out.

Hello everyone,
Can anyone help with the calculation of the true yeild. Also has elanyone used I-invest app before?

dacool1:
Hello everyone,
Can anyone help with the calculation of the true yeild. Also has elanyone used I-invest app before?

Do
discount/ (100 - discount)
Then multiply by 100 to get it in percentage

awesomeJ:

Do
discount/ (100 - discount)
Then multiply by 100 to get it in percentage

Thanks

DAramis:
Guys, and ladies,

I am trying to invest in TB. Can you list the banks that offers the best rate?

Seems money market has crashed and no longer profitable. Trying to set MMF up but going to forgoe it and focus on Treasury Bill.

Got 19.5% with Providus for 365days. Note, I went with the banks bid as i had less than 50M

Omotolani513:


Got 19.5% with Providus for 365days. Note, I went with the banks bid as i had less than 50M

Thanks for the update. Just trying to test waters with my mite 😅 Don't even have up to a million 🤣

ojesymsym:
Yes correct, that should also allow you access the phone app.

Downloaded, and currently under review for my KYC. Once verified, to start investing.

I think the app is better than chasing so many banks for different Treasury Bill rate. Unfortunately, the don't have Mutual Money Fund option currently.

Might have to look for alternative app for that.

Yes, only MMF seems to be missing. I think there is a high interest rate savings option though, can't remember now.

DAramis:

Downloaded, and currently under review for my KYC. Once verified, to start investing.

I think the app is better than chasing so many banks for different Treasury Bill rate. Unfortunately, the don't have Mutual Money Fund option currently.

Might have to look for alternative app for that.

Akerewe:


Am using N0 3 ( third) account officer this year because of issues like this. Change the account officer or go to another bank

Same goes for zenith bank
I went to 3 different branches on the island and they couldn't help.
They don't know the difference between primary and secondary market

chukzyfcbb:

Same goes for zenith bank
I went to 3 different branches on the island and they couldn't help.
They don't know the difference between primary and secondary market

Seems most bankers these days are learners, I think all the expert left the banking system

,

Good day, great investment minds! It's been so long I followed this tbills tread & d numerous posts mostly not related to tbills won't allow one to go thru all d posts.

Pls, what's d current Treasure Bills rate in primary and secondary markets now for a tenor around 365 days?

Second, pls, is it true FBN branches no longer deal directly with tbills dt they now do thru one of their sublets like dt?

Third, I av a tbills I did @7% last October dt is slated to mature July this year. Pls, can I terminate this running one?, if yes, how do I go about d termination & how long will I wait to get it terminated?

eniorisha:
Good day, great investment minds! It's been so long I followed this tbills tread & d numerous posts mostly not related to tbills won't allow one to go thru all d posts.

Pls, what's d current Treasure Bills rate in primary and secondary markets now for a tenor around 365 days?

Second, pls, is it true FBN branches no longer deal directly with tbills dt they now do thru one of their sublets like dt?

Third, I av a tbills I did @7% last October dt is slated to mature July this year. Pls, can I terminate this running one?, if yes, how do I go about d termination & how long will I wait to get it terminated?

1. 20% and above

2. I doubt that's true, traded secondary market on the 18th of April at 17.2% on 343 days.

3. Discuss with your bank, they always tell me it depends on availability of buyer. I just feel we wouldn't have a buyer at that rate. Losses are likely as T&C applies.