I placed 750 000 for 91days at interest of 13% percent how much am I suppose to get as interest. Did it wit First bank.

Spidy:
I placed 750 000 for 91days at interest of 13% percent how much am I suppose to get as interest. Did it wit First bank.

24,375 Naira

hello bosses in d haus..
is it possible to extend d maturity date in treasury bills.??. .e.g I invested in tbills for 182 days two weeks ago but I want to extend to 364 days ..

Ikmontana1:
hello bosses in d haus..
is it possible to extend d maturity date in treasury bills.??. .e.g I invested in tbills for 182 days two weeks ago but I want to extend to 364 days ..

NO! NO!! NO!!! SIR.
It's not possible to extend it but you are at liberty to terminate whatever you bought at the Primary market before maturity.

The only way you MAY increase the tenure is to buy more at the prevailing rate either at the Primary or Secondary markets. Note also that your buy rates for 182 days and 364days at the Primary market could not have been the same.

Agree with you, Tony and Feelamong, but I don't see 364 day rates falling to 10% this year without inflation being single digits and the naira further appreciating against the green back. Maybe next year... That said, it has happened before (discount rates lower than headline inflation)... financial markets are not always rational.

katamo:
I agree with feelamong and TONY56 and will add some additional thoughts.

The Nigerian government issued a large amount of TB over the last couple of years to support increased government spending which was mechanism to stimulate the economy and bring us out of recession. Since oil prices were low, government had to issue a mix of TB bills (which were very costly at about 17-18% interest) and Eurobonds (much cheaper at about 7%). Now that the price of oil has started to recover (which translates into more money for the government) and the economy is technically out of recession, government will look to phase out high-cost TB borrowings by reducing the amount issued/rolled over.

If these economic indicators continue to be positive, we can expect to see TB rates continue to go down. Investors are trying to lock in higher rates now for a longer term (364 days) as TB rates are expected to continue to decrease in the near term. I personally see rates falling below 10% (for 364 days bills) sometime this year, all things being equal.

Good morning everyone. Please I need clarification. I just did Tbills for the first time. I instructed my account officer to purchase Tbills of 3M for me for 182days. I just checked my account now to discover that the interest I got was only 186k. I actually expected it to be more. Please can anyone explain if this was done properly. I used GTB. Thanks

bammy2017:
Good morning everyone. Please I need clarification. I just did Tbills for the first time. I instructed my account officer to purchase Tbills of 3M for me for 182days. I just checked my account now to discover that the interest I got was only 186k. I actually expected it to be more. Please can anyone explain if this was done properly. used GTB. Thanks

That's the exact amount you are to get. Do your calculations. It's simple

Hello house,

Please, which bank can one purchase treasury bills (primary and secondary markets) without physically visiting a branch? This is with the assumption that you already have an account with the bank.

Thanks.

bammy2017:
Good morning everyone. Please I need clarification. I just did Tbills for the first time. I instructed my account officer to purchase Tbills of 3M for me for 182days. I just checked my account now to discover that the interest I got was only 186k. I actually expected it to be more. Please can anyone explain if this was done properly. I used GTB. Thanks

It seems like it was properly done. The rate used was probably 12.4% which seems reasonable given that you used GTBank.

12.4% x 3,000,000 x 182/364 = 186,000

ImperialCovfefe:
Hello house,

Please, which bank can one purchase treasury bills (primary and secondary markets) without physically visiting a branch? This is with the assumption that you already have an account with the bank.

Thanks.

To the best of my knowledge, none. I know most banks will require you to fill a form.

I just went to firstbank to reinvest a TB that matured yesterday but was told that they currently have issues with yesterday's TB, hence does not have rates for today.That i should check back on monday.Pls has any other person experienced this?

sempe123:
I just went to firstbank to reinvest a TB that matured yesterday but was told that they currently have issues with yesterday's TB, hence does not have rates for today.That i should check back on monday.Pls has any other person experienced this?

i thinks something is wrong. am at d FBN n tbill is available but d rate r not displaying according to d guy in charge

Many thanks!

lowkey28:

That's the exact amount you are to get. Do your calculations. It's simple

ImperialCovfefe:
Hello house,

Please, which bank can one purchase treasury bills (primary and secondary markets) without physically visiting a branch? This is with the assumption that you already have an account with the bank.

Thanks.

I bought through afrinvest everything was concluded via email brokerageteam@afrinvest.com

Guys , i hope 195 days @ 13% is a good bargain with 480k via FBN

Mfunkynation:
Guys , i hope 195 days @ 13% is a good bargain with 480k via FBN

are the rates accessible now?because i was earlier told to come back on monday that rates can be viewed

Hello House

Please need a calculation on t bills of 28M with 90days tenure. What I got as interest is #802,794

Thanks

egbinlomo:

Hello House

Please need a calculation on t bills of 28M with 90days tenure. What I got as interest is #802,794

Thanks

p = Principal

t = Time

i = Interest

r = Rate
-----------

i = p*t*r/(365 * 100) = ptr/36500

i*36500 = ptr

r = i*36500/p*t

r = 802794 * 36500 / 28000000 * 90

r = 29301981000 / 2520000000

r = 11.63%

egbinlomo:

Hello House

Please need a calculation on t bills of 28M with 90days tenure. What I got as interest is #802,794

Thanks

802,794 ÷ (28,000,000 x 90/364) = 0.11595 (11.59%)

sempe123:

are the rates accessible now?because i was earlier told to come back on monday that rates can be viewed

yes boss

Mfunkynation:
Guys , i hope 195 days @ 13% is a good bargain with 480k via FBN

I think so

ImperialCovfefe:
Hello house,

Please, which bank can one purchase treasury bills (primary and secondary markets) without physically visiting a branch? This is with the assumption that you already have an account with the bank.

Thanks.

If you have a printer I can scan the forms to you

Prechy08:

If you have a printer I can scan the forms to you

Forms for which bank?

ImperialCovfefe:


Forms for which bank?

Prudential mortgage bank 08118894323 chat me up

Goodday house please who can advise which of the time period is better. The 90,180 or 365 days investment period?

DUNKA:
Goodday house please who can advise which of the time period is better. The 90,180 or 365 days investment period?

It depends on you and how long you can spare your money. No one here knows better than you.

bammy2017:
Good morning everyone. Please I need clarification. I just did Tbills for the first time. I instructed my account officer to purchase Tbills of 3M for me for 182days. I just checked my account now to discover that the interest I got was only 186k. I actually expected it to be more. Please can anyone explain if this was done properly. I used GTB. Thanks

You must have calculated for 364 days

The guy above me though... looooooool

feelamong:


there is Auction Today.

You ought to have dropped your bids with your bankers since yesterday

Sorry please, but how do you know the day of the auction even beforehand and drop bids prior to auction date?

It depends on the bank...First bank would want you to feel the form @least as day of the week before auction week. In Stanbic or GT Monday or early morning on Tuesday of the auction week is fine.

N234b Bills Mature This Week amid Expected Ease in Lending Rates
https://www.businesspost.ng/2018/03/19/n234b-bills-mature-this-week-amid-expected-ease-in-lending-rates/