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Treasury Bills In Nigeria - Investment (7) - Nairaland

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Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)

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Re: Treasury Bills In Nigeria by efismikoko(m): 6:30am On May 17, 2012
Nigeria plans to auction 126.33 billion naira ($800.19 million) in treasury bills ranging from 3-month to 1-year maturities at its regular monthly debt auction on May 23, the central bank said on Wednesday.

 

The bank said it would issue 30.65 billion naira in 91-day paper, 45 billion naira in 182-day bills and 50 billion in 364-day bills next week Wednesday.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity.
Re: Treasury Bills In Nigeria by karadjorje: 11:21am On May 19, 2012
sophisticated investors dont complain as u all do cos they know what share to buy and such is not available for IPOs.guess what they are tax free and regulated for the big shots only.Now the question is how do you break into that ring?...............
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Re: Treasury Bills In Nigeria by onasharon(m): 2:44pm On May 23, 2012
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Re: Treasury Bills In Nigeria by insure1: 5:17pm On May 23, 2012
Interesting thread. Very enlightening!
Re: Treasury Bills In Nigeria by feelamong(m): 8:38am On May 24, 2012
in_sure: Interesting thread. Very enlightening!

Just got this from my bankers as per the Auction for Tbills yesterday......

The respective stop rates are below for the Recent Auction :

TBILL PRIMARY AUCTION RESULTS
Tenor 91 Days 182 Days 364 Days
Stop rate (%) 13.50% 14.14% 14.30%
Amt. Offered (₦bn) 30.65 45.00 50.68
Re: Treasury Bills In Nigeria by feelamong(m): 8:43am On May 24, 2012
feelamong:

The respective stop rates are below for the Recent Auction :

TBILL PRIMARY AUCTION RESULTS
Tenor 91 Days 182 Days 364 Days
Stop rate (%) 13.50% 14.14% 14.30%
Amt. Offered (₦bn) 30.65 45.00 50.68

Yields are looking up once again!!!! Clearly with an increased inflation figure released last couple of weeks..the higher yields were sort of expected!!
Re: Treasury Bills In Nigeria by efismikoko(m): 9:22am On May 24, 2012
This is real good news
Re: Treasury Bills In Nigeria by AFOLABISUNKANMI(m): 5:30pm On May 24, 2012
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Re: Treasury Bills In Nigeria by feelamong(m): 3:04pm On May 25, 2012
efismikoko: This is real good news

http://af.reuters.com/article/nigeriaNews/idAFL5E8GP4YQ20120525

Nigeria sells 126 bln naira in T-bills, yields rise

LAGOS May 25 (Reuters) - Nigeria sold a total of 126.32 billion naira ($791.35 million) in treasury bills ranging from three months to one year at its bi-monthly auction, with higher yields on the paper than at the previous auction, the central bank said on Friday.

The bank on Thursday sold 30.64 billion naira worth of the 91-day paper at a return of 13.50 percent, up from 13.19 percent at the previous auction.

The 45 billion naira worth of the 182-day paper was issued at 14.14 percent, compared with 13.87 percent at the previous auction, while the bank issued 50.68 billion naira worth of 1-year paper at a return of 13.30 percent, lower than the 13.94 percent at an auction on April 10.

Total subscriptions stood at 307.28 billion naira, a sharp drop from 513.42 billion naira demanded at the last auction, reflecting declining interest by offshore investors in short-dated debt instruments, traders said.

High inflation and the declining value of the local currency is leading offshore investors to sell down their local debt holdings and repatriate the funds, putting further pressure on the local currency, dealers told Reuters.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce the money supply, curb inflation and help lenders manage their liquidity. ($1 = 159.62 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)
Re: Treasury Bills In Nigeria by xfabulous(m): 4:04pm On May 25, 2012
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Re: Treasury Bills In Nigeria by efismikoko(m): 5:31pm On May 25, 2012
Oga feelamong I tink business day made a mistake for the 1yr it shld b 14.30
Re: Treasury Bills In Nigeria by feelamong(m): 7:20am On May 28, 2012
efismikoko: Oga feelamong I tink business day made a mistake for the 1yr it shld b 14.30

yea.. well spotted. You are very correct!!! It should actually be 14.30% for the 1 year tenor!
Re: Treasury Bills In Nigeria by feelamong(m): 8:18am On Jun 02, 2012
http://www.businessdayonline.com/NG/index.php/markets/bond-market/38853-fg-to-raise-n138bn-in-treasury-bills

FG to raise N138bn in treasury bills

The federal government plans to issue 137.97 billion naira ($862.58 million) in treasury bills ranging from 3-month to 1-year maturities at its regular bi-monthly debt auction on June 7, the central bank said on Friday.

The bank plans to issue 32.97 billion naira in 91-day paper, 45 billion naira in 182-day bills and 60 billion in 364-day bills next week on Wednesday.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity.

The short-dated debt of Africa's top energy producer attracted higher yields across the board at the last auction on May 23 compared with the one earlier, due to concerns on rising inflation.
Re: Treasury Bills In Nigeria by Nobody: 2:19pm On Jun 03, 2012
Please can some give me a list of good nigeria discount homes for T bills subscription, and those companies with good internet presence. You can also email me the info at akuwudikeezechima@yahoo.com. Thanks
Re: Treasury Bills In Nigeria by Himalayas: 6:57pm On Jun 03, 2012
@feelamong, Can someone invest with USD and get dividends in USD considering the volatility of our local currency. For instance I opt to invest 10000USD and collect my returns in USD.

1 Like

Re: Treasury Bills In Nigeria by Nobody: 7:44pm On Jun 03, 2012
@feelamong, i sent you an email via akuwudikeeze@yahoo.com. Please i would appriciate your reply.
Re: Treasury Bills In Nigeria by feelamong(m): 7:52am On Jun 04, 2012
noriega: @feelamong, i sent you an email via akuwudikeeze@yahoo.com. Please i would appriciate your reply.

check ur mail!
Re: Treasury Bills In Nigeria by feelamong(m): 7:56am On Jun 04, 2012
Himalayas: @feelamong, Can someone invest with USD and get dividends in USD considering the volatility of our local currency. For instance I opt to invest 10000USD and collect my returns in USD.

Am not sure you can invest in dollars....from what i hear; the dollars when imported into naija will have to be converted to Naira before you can invest. Then at the end you will convert back to Dollars to move the funds out. (but since you intend to move out the funds after; you will have to get a capital import certificate from your bankers out there.
Re: Treasury Bills In Nigeria by hugooh42(m): 6:59am On Jun 06, 2012
@feelamong Iwill appreciate if you willPlease can some give me a list of good nigeria discount homes for T bills subscription, and those companies with good internet.Send it to magnusbennoa@yahoo.com. On the other hand do you think my bank can convieniently do that service for me?

Also what do you thinkof this punch newspaper report?

Tuesday, June 5, 2012

Naira hits four-month low as investors shed interest

by Ademola Alawiye with agency report

The naira weakened to a four-month low on Monday as foreign investors continued to pull out their money from government bills and bonds due to fears about inflation and currency weakness.


Naira notes

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The local unit was traded at N161.25 to the dollar on Monday, as against N160.70 on Friday at the inter-bank market.

Dealers said weakening United States job data and the unresolved Eurozone debt crisis had prompted foreign investors to pull money out of riskier frontier markets including Nigeria to safe havens or to switch to cash.

Reuters quoted a dealer as saying, "Foreign investors are exiting the market and that is affecting the naira. This has been the trend since May. Foreign investors are exiting their bond positions in Nigeria owing to the rise in inflation, projected to reach 14.5 per cent by the third quarter, from 12.9 per cent in April, which means a worse outlook for the naira."

Another dealer was quoted as saying, "The naira was also very illiquid at the moment. Real interest rates have slimmed down due to a rise in inflation and forex rates are going up."

On Monday, the Central Bank of Nigeria auctioned $300m at N155.80 to the dollar, which was not enough to support the local currency. It sold $250m at N155.75 at its last auction on Wednesday but did not disclose the amount demanded.

The naira has been falling in recent weeks, despite Nigeria's foreign exchange reserves rising to a 21-month high of $37.64bn by May 28, up three per cent from a month earlier, as dollar supply still fails to meet demand.

The currency, which had consistently stabilised around the N157 to the dollar level for more than three months of this year, came under pressure two weeks ago from strong dollar demand from fuel importers and investors repatriating dividends.

The CBN has directly sold dollars in the inter-bank market since last week, outside its bi-weekly foreign exchange auction, to calm the market, with mixed results.

On Monday, bond yields rose across all maturities, by up to 20 basis points, dealers said. The most liquid three-year paper was trading at 15.1 per cent, up from Friday's close of 15.02 per cent.

The five-year paper was 15.43 per cent, from 15.35 per cent on Friday, while the 10-year bond traded 15.67 per cent, up from Friday's 15.48 per cent.

The Head of Rates and Credit, Standard Chartered Bank, Mr. Ayodeji Adelagun, said, "The bond market has been extremely bearish due to illiquidity and developments offshore.
Re: Treasury Bills In Nigeria by feelamong(m): 10:03am On Jun 06, 2012
The foreign investors are only doing what they have to do...especially when there is fear of devaluation of the local currency due to the dwindling price of crude oil in the international market. They will first stay on the side line hold their dollars and be sure that the currency has been fully devalued after which they will come in back. they do not want to bear the risk of currency devaluation during the exchange back to dollars when their Tbills mature.

As for local people like us, what difference does it make? If I put my money in the bank and Naira loses value, am losing value of my Naira. But for those who can wait, the idea is to convert the money to dollars, after the naira has lost the expected value and maybe trading at N200 to a Dollar, then we convert back to Naira and play once again in the Tbills Market.

1 Like

Re: Treasury Bills In Nigeria by feelamong(m): 10:08am On Jun 06, 2012
For us locals, this is our chance to key into the Tbills market especially as most foreign investors want to wait and see if Sanusi will allow Naira to devalue further (naira is already going for N162)

On a personal note, I dont give my bankers any free money, they must pay for my funds being with them....what i do is to place all monies I have on call at 5% p.a and the rest I place in Tbills at 13 -15% p.a.

All i leave behind is the one i need to go by daily in my current account maybe about 50k. If I have any need to pay a bill or for cash more than that amount i keep in my acct, I just call my account officer and liquidate some of the money on call into my current account to pay the bill.

3 Likes

Re: Treasury Bills In Nigeria by feelamong(m): 11:13am On Jun 06, 2012
http://af.reuters.com/article/nigeriaNews/idAFL5E8H60T420120606

NIGERIA MARKETS
Nigeria's naira extended losses against the U.S. dollar on the
interbank market on Tuesday, weakening to a 5-1/2 month low as foreign
investors continued to pull out of government bonds.


Nigeria's all-share index drops to a six-week low, as local
funds switch to bonds for higher yields and offshore investors sell off
their naira positions to repatriate funds abroad. nL5E8H58B1
[/b]
Re: Treasury Bills In Nigeria by Nobody: 1:44pm On Jun 06, 2012
@feelamong

Good job here and thamks for all the info.

i am aware there was an auction today< is it still possible to buy into it
Re: Treasury Bills In Nigeria by feelamong(m): 2:09pm On Jun 06, 2012
whatelsedo: @feelamong

Good job here and thamks for all the info.

i am aware there was an auction today< is it still possible to buy into it

You missed the train Bro....From what I was told by my bankers; I have to bid on tuesday, cos they go to CBN with our bids on wednesdays..

Try the one for next two weeks time!

1 Like

Re: Treasury Bills In Nigeria by tenry(m): 3:21pm On Jun 06, 2012
I fixed 1million naira at Gtb since march and tomorrow is the pay back day.Pls can I still bid for the Treasury bill tomorror? If yes, how ll I go about it? Your urgent reply ll be appreciated as I'm planning to visit my branch tomorrow.Thanks.

1 Like

Re: Treasury Bills In Nigeria by feelamong(m): 4:00pm On Jun 06, 2012
tenry: I fixed 1million naira at Gtb since march and tomorrow is the pay back day.Pls can I still bid for the Treasury bill tomorror? If yes, how ll I go about it? Your urgent reply ll be appreciated as I'm planning to visit my branch tomorrow.Thanks.

Bro.. U mised the train this time around! Usually I place my Bid on Tuesdays...the bank then takes it to CBN on wednesdays and by thursday afternoon the result of the Bids is announced.

I will suggest that you liquidate ur fixed deposit, you put ur money on call for the next 12 days and bid for the next auction.

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