My roll over instrustion failed about 3 weeks ago and i have since instructed my bank (First bank) to purchase T-bill of 91 days on my behalf. The bid for this transaction has failed twice now. Is it that 91 days bidding is having issues or the problem is with my bank? Kindly advise for me pls.

olatuna2:
My roll over instrustion failed about 3 weeks ago and i have since instructed my bank (First bank) to purchase T-bill of 91 days on my behalf. The bid for this transaction has failed twice now. Is it that 91 days bidding is having issues or the problem is with my bank? Kindly advise for me pls.

Did you tell them the rate you want? If so, that might be the reason.

Hi,
Yes I am.
Are you still interested?

ClitRaider:


Hello bro,
Are you still in TBills?!
I want to invest.

olatuna2:
My roll over instrustion failed about 3 weeks ago and i have since instructed my bank (First bank) to purchase T-bill of 91 days on my behalf. The bid for this transaction has failed twice now. Is it that 91 days bidding is having issues or the problem is with my bank? Kindly advise for me pls.

Might be your bank because banks now bid on behalf of small investors that invest less than 50million

obiZEAL:
Hi, Yes I am. Are you still interested?

The profit ain't worth it. I gave up on TBills.

Who knows the secondary market rate for Gtbank or first bank?

ClitRaider:

The profit ain't worth it.
I gave up on TBills.

tell us any good and secure profitable business

Hello all...I have been trying to terminate my TBs for over a month now as I intend diverting the said sum to a more profitable scheme(Real estate investment) in Ibeju-Lekki. The guy in charge at First Bank has been giving me excuses upon excuses of failed instructions...Who's in my shoes please? Is this a general thing or should I just go on to 'para' for them tomorrow?

what is happening at Ibeju lekki now, a friend told me to come buy plots in well lit surroundings there at N1.8m, what do you think?

Damolux01:
Hello all...I have been trying to terminate my TBs for over a month now as I intend diverting the said sum to a more profitable scheme(Real estate investment) in Ibeju-Lekki. The guy in charge at First Bank has been giving me excuses upon excuses of failed instructions...Who's in my shoes please? Is this a general thing or should I just go on to 'para' for them tomorrow?

TotoNaRubber:
what is happening at Ibeju lekki now, a friend told me to come buy plots in well lit surroundings there at N1.8m, what do you think?

That 1.8m should give you nothing less than 4m in 12 months...Far better than this our TB. Anyone interested in a genuine landed property can contact me please.

Damolux01:
That 1.8m should give you nothing less than 4m in 12 months...Far better than this our TB. Anyone interested in a genuine landed property can contact me please.

The idea that someone will come along and buy land from you at a higher price, in a country with increasing population, but reduction in growth rate, reducing GDP, reduction in GDP per capita, increase in unemployment etc is ridiculous.

Stay safe out there people.

Damolux01:
That 1.8m should give you nothing less than 4m in 12 months...Far better than this our TB. Anyone interested in a genuine landed property can contact me please.

What we have here are investors and not speculators.

CBN Resumes OMO Auction, Slightly Slashes Rates
https://businesspost.ng/2019/04/24/cbn-resumes-omo-auction-slightly-slashes-rates/

My 91days too failed in First Bank .I'm going there this morning

olatuna2:
My roll over instrustion failed about 3 weeks ago and i have since instructed my bank (First bank) to purchase T-bill of 91 days on my behalf. The bid for this transaction has failed twice now. Is it that 91 days bidding is having issues or the problem is with my bank? Kindly advise for me pls.

Grupo:


What we have here are investors and not speculators.

someone give this guy a round of applause

hello. please who knows the secondary market rate for UBA and Stanbic.
thanks

Hello house, I want to liquidate my tbills with Zenith bank.

How much can someone guess I am gonna lose on Tbills of 3.2m naira that's is suppose to be matured on 29/8/2019. Its a six-month tbill of 12.5% rate. I just need some figure that I will get back once I liquidate it.

Guruindahouse:
Hello house, I want to liquidate my tbills with Zenith bank.

How much can someone guess I am gonna lose on Tbills of 3.2m naira that's is suppose to be matured on 29/8/2019. Its a six-month tbill of 12.5% rate. I just need some figure that I will get back once I liquidate it.

from what we have discussed here:
You will not lose your capital (3.2m)
It is part of the interest that you will lose.

Therefore,
You got an interest of 200,000
I.e: 1111.11 per day for 180 days.

You have only earned 54 days till today.
Therefore, you will have 126 days interest deducted from your interest paid upfront.

This equates to :
126 x 1111.1 = N 139999.99

Meaning you will receive N3200000 - N139999.99 = ~N 3,060,000


REMEMBER, you lose nothing. Except for charges normally.



In another scenario, if your bank has a liquidation charge, then your case is different as that is what they will remove from your interest. (still not your capital)

I believe rates have not gone down that far to make these calculations wrong.


GOOD LUCK and please do tell us how you fared at the end.


P. S:
You should ask them if they will allow you liquidate part of the sum,
If you don't really need all of it O.

Thanks a lot! This is my first time liquidating tbill before the maturity date.

Edit: "I won’t advice you do that sir, Because of the default rate. Can be as high as 45percent sir" This is the reply from my account manager when I told him that I want to liquidate my tbill.

Pls reply.

RealityShot:
from what we have discussed here:
You will not lose your capital (3.2m)
It is part of the interest that you will lose.

Therefore,
You got an interest of 200,000
I.e: 1111.11 per day for 180 days.

You have only earned 54 days till today.
Therefore, you will have 126 days interest deducted from your interest paid upfront.

This equates to :
126 x 1111.1 = N 139999.99

Meaning you will receive N3200000 - N139999.99 = ~N 3,060,000


REMEMBER, you lose nothing. Except for charges normally.



In another scenario, if your bank has a liquidation charge, then your case is different as that is what they will remove from your interest. (still not your capital)

I believe rates have not gone down that far to make these calculations wrong.


GOOD LUCK and please do tell us how you fared at the end.


P. S:
You should ask them if they will allow you liquidate part of the sum,
If you don't really need all of it O.

RealityShot:
from what we have discussed here:
You will not lose your capital (3.2m)
It is part of the interest that you will lose.

Therefore,
You got an interest of 200,000
I.e: 1111.11 per day for 180 days.

You have only earned 54 days till today.
Therefore, you will have 126 days interest deducted from your interest paid upfront.

This equates to :
126 x 1111.1 = N 139999.99

Meaning you will receive N3200000 - N139999.99 = ~N 3,060,000


REMEMBER, you lose nothing. Except for charges normally.



In another scenario, if your bank has a liquidation charge, then your case is different as that is what they will remove from your interest. (still not your capital)

I believe rates have not gone down that far to make these calculations wrong.


GOOD LUCK and please do tell us how you fared at the end.


P. S:
You should ask them if they will allow you liquidate part of the sum,
If you don't really need all of it O.

He may likely lose some fraction of 3.2M. You cant chop the interest n expect to bail out untouch!

mumayo:
hello. please who knows the secondary market rate for UBA and Stanbic.
thanks

today: First bank 112 days for 11%. 358 for 12%

Mfunkynation:

He may likely lose some fraction of 3.2M. You cant chop the interest n expect to bail out untouch!

read my previous post again and note how much I said he would get at the end.

Hmm...

Guruindahouse:
Thanks a lot! This is my first time liquidating tbill before the maturity date.

Edit: "I won’t advice you do that sir, Because of the default rate. Can be as high as 45percent sir" This is the reply from my account manager when I told him that I want to liquidate my tbill.

Pls reply.

no one is advised to break a tbill investment.
But if it is cogent that you do, then you do it.
No loss on your capital though, except rates have gone down/up compared to your purchase rate.

The account managers sometimes are morons.


P. S: I have not done it before, but I will later in October when move to consolidate all my bills

RealityShot:
read my previous post again and note how much I said he would get at the end.

Hmm...

that is why I do short term investment 45 to 85 days

Adegokenath:
that is why I do short term investment 45 to 85 days

Please wic one is the best among the banks for short days investment

Adegokenath:
that is why I do short term investment 45 to 85 days

Please sir can I have your number please i want to ask some questions

Adegokenath:
that is why I do short term investment 45 to 85 days

I just realized that and I will effect it ASAP.

For now am holding all small funds in a money market fund.
Will add them to the next expired bill and make it shorter...

Short term is better for those building their capital.

RealityShot:
I just realized that and I will effect it ASAP.

For now am holding all small funds in a money market fund.
Will add them to the next expired bill and make it shorter...

Short term is better for those building their capital.

I think that's a gud step you have taken. I also moved part of my tbills to mmf now leaving the big money to tbill anyway since I was able to lock down at 14% then. On the short run I go with mmf for now since some mmf rates are even better than tbills now 13% on the average and one can also add more capital to existing funds

Do you know the primary market rate for First Bank in the last auction?

Akin3891:


today: First bank 112 days for 11%. 358 for 12%

eddyakinrinde:


I think that's a gud step you have taken. I also moved part of my tbills to mmf now leaving the big money to tbill anyway since I was able to lock down at 14% then. On the short run I go with mmf for now since some mmf rates are even better than tbills now 13% on the average and one can also add more capital to existing funds

please MMF is ok for now?

hello, distinguished investors

I want to liquidate my t-bills, does anyone know how long it will take. My account officer at gtbank said it takes a long time because t-bills are difficult to liquidate.

Any useful insight is appreciated.

yomazon:
hello, distinguished investors

I want to liquidate my t-bills, does anyone know how long it will take. My account officer at gtbank said it takes a long time because t-bills are difficult to liquidate.

Any useful insight is appreciated.

It takes as long as it takes the bank to sell it.