@Feelamong

Please, can you help me with the details of your account officer?
I have been frustrated enough by my account officer in one of the GTbank's branches, it's either most of these branch bank staff are ignorant of the workings of Treasury bills or they are just ready to frustrate one to accept the secondary market at their own rate.

Pls advice me, concerning TBs, (since most of these branch bank staff seems ignorant of the workings of TBs), can I go to the Head office to initiate my TB primary market bidding by transferring my account to the Head Office branch or how do get a bank in Nigeria that will accept primary market bid from me and communicate my bid outcome through a formal email correspondence and receipting? Pls name the bank here and the branch to go.


@Desanta

Which bank are you using? I need to exit GTB for this investment purpose.

Please, help me with all and every information that I need, to move this fund lying fallow in my current acct in GTB...send details to toni.cann@gmail.com

sammily:


I guess that's what I will be doing from now since I have my account officer's contacts. I too don't want to believe that she purposely forgot to send it since I've placed several successful bid with the bank.

Sammily,

Please which bank are you using and how do you go about placing bid with your banch for primary market TB bidding?

Thank you as I await your response.

@Desanta

Which bank are you using? I need to exit GTB for this investment purpose.

Please, help me with all and every information that I need, to move this fund lying fallow in my current acct in GTB...send details to toni.cann@gmail.com

[/quote]


I use First bank of Nigeria, plc. They are okay not perfect..

TCann:


Sammily,

Please which bank are you using and how do you go about placing bid with your banch for primary market TB bidding?

Thank you as I await your response.

I use both FBN and Zenith. Just walk into the branch and ask who is in charge of NTB investment, fill the form and you are in. At FBN you mostly go with the bank rate which almost never fails but at Zenith, you can either go with the bank rate or place your own bid rate.

Pls must I operate a current account in order to invest in treasury bills

cee001:
Pls must I operate a current account in order to invest in treasury bills

No. I use my savings account.

ok. thanks @Desanta

...good time to buy Nigerian assets with your hard currency folks.

Meanwhile, Naira is plummeting against $$$ and CBN is stopping auctions.

You are limiting the circulation of a commodity; the price will not go up?

Mtschew. Clueless.

sammily:
I missed out of the bid because the lady at the desk I filled the form forgot to scan it to their head office. I went to my bank yesterday to ask why my investment didn't fly, immediately she started apologising. Now I have to wait a fortnight for another. Hope the rates don't fall before then.

too bad

angelo82:
I have my suspicion because a day to the auction,I was called from the bank offering me 13.5% for a year and I quizzed why offering me that when I have a bid to buy from the primary market and till now no clue as to what happened to my bid.....I am in talk with another bank and if they offer me something better,I will move my fund and I will completely close my account because I just can't stand a bank sabotaging my interest because they want to make more profit than me....Pre-crisis era its possible for them but everybody serious and clever as regards their finances but this crooks still believe that you will allow them to swindle you as they want......Very pathetic bunch of crooks.....

those guys are crooks

kaptinphilz:
please how do I even know my account officer. I think is better to go through them.

i don't think you'll need them or see any reason to trust them all they care about is to keep your fund in their bank and make more money from it for their bank

unite4real:


Remember when i told you that the bank might frustrate you after they give you a rate that you turned down and i advised that you move your fund to another bank but you declined.

see exerpts below.



unite4real:


please dont accept. they are selling to you from their books. or better still ask them to give you at 14.5% which i think is fantastic deal else, you wait till next auction but the bank may frustrate you during the auction if you peg a bid rate with them.

i will advice you use another bank.

u re right

cee001:
[color=#990000][/color]Hello house!Please I really need some schooling on this treasury bills of a thing. I hear you all talking about bids and all that. And from little gatherings I see that this is through the primary market,right?My question is how can I invest through the primary market?through my bankbecause when I mailed my bank concerning investing in T-bills and the interest rate they gave me the interest rates. But this is the secondary market,right?...they gave me something like this
TENURE (DAYS)      MATURITY DATE                  RATE (%)      
 87                          14 -May-2015                         10.50%
129                         25 -Jun-2015                          12.50%
 ...Now going for something like this is investing through the secondary market ,right? If so then how can I invest through the primary market,since I get d opportunity of bidding my interest rate. I hear things like account officers. Are these the agentsare they paid by the investor or its just something done on behalf of the Bank like an already paid service or something??...and these account officers are found in banks...

...Plus,I hear the issue of the T-bills is offered at a discount and at the end of the day U are paid the face value...My question on this is,‘is this exclusive of the interest that would be paid upfront?..i.e apart from the interest received on the principal one also gets the benefit of d difference btw. the discounted purchase rate and the full face value received at maturity. If this is not so pls I need some serious schooling before I go investing in T-bills. Pls I need a response on this don't mind the length of this..I might not just be skillful at expressing myself in a clear and concise way...my bad..thanks
N.B even if u cannot answer all the qstns at least the ones u know share with me and others too will contribute their answers...that way all my questions will b answered ...but If u can answer all in one stretch no qualms that'll be ok

pls go through the thread from the first to the current page it will help u.

angelo82:
I don't get your joke..........My point is that your investment receipt must stipulates all your investment details in full and not just debit on your account.....Princinpal amount,interest agreed,date of investment,maturity,interest amount,charges must reflect in your receipt......And your guys never sign on any investment receipt.......But in Europe,all contractual terms of your deposit will be stipulated....In 2004 when interest on deposit was 10% in Europe,I invested for two years and I was never bothered because they always do things the way it should be done without you asking any question.....I finally solved the issue with the bank and I was given 14.5% for 364days but the funniest part is after calculating all the deductions both bank commissions/custodial fees,I actually got 14% in real terms............

its still ok

diamond88:
Guys I want to place a bid with gtb but I heard minimum I can invest in 5 millions. I have 100k at a start. Which back can accept this in tb in primary market

go to first bank

cee001:
Pls must I operate a current account in order to invest in treasury bills

no

coderXO:
...good time to buy Nigerian assets with your hard currency folks.

Meanwhile, Naira is plummeting against $$$ and CBN is stopping auctions.

You are limiting the circulation of a commodity; the price will not go up?

Mtschew. Clueless.

asset like?

Yes is not bad......But I am going to open a new account with first bank,because they care more about ethics and they help you to improve in terms of investment....The other ones they drag your investment with you................

princeuk21:
its still ok

if you got the money: land & houses, i.e property

Properties that were "x amount" (Naira) 3 months ago, are still that same x amount today.

Let's say a land you were eyeing one time was N1m , that woulda been $5500

Today that land is gonna cost you $4600.


If you are a big hitter, that can save you $10 or 20 grand on some purchases.

Mutual funds are another out let for investment. You can buy Newgold etf, performed good last year and has returned about 16% this year. It tracks gold so investing in it is like investing in gold indirectly. I do not hold it though because I do not have the money. You can get more information on www..com

Good luck with your investments

Pls fellow investors, is there any change in the BVN registration of June 30, 2015 deadline and what is the implication if someone does not get registered before the deadline especially for those in diaspora.
Thanks for your prompt response.

princeuk21:
go to first bank

ok i will check out a branch close to me./ i hope tghey accept 100k

angelo82:
Yes is not bad......But I am going to open a new account with first bank,because they care more about ethics and they help you to improve in terms of investment....The other ones they drag your investment with you................

#angelo82 My sister works in a bank and will happily assist. You won't have to tip her. Interested?

NairaQuest:
Mutual funds are another out let for investment. You can buy Newgold etf, performed good last year and has returned about 16% this year. It tracks gold so investing in it is like investing in gold indirectly. I do not hold it though because I do not have the money. You can get more information on www..com

Good luck with your investments

Thanks bro

angelo82:
Yes is not bad......But I am going to open a new account with first bank,because they care more about ethics and they help you to improve in terms of investment....The other ones they drag your investment with you................

True talk. Think of FirstBank for your investment needs. These guys truely care about their customers. They r out to satisfy their customers dis time around. Although dey r still some bad eggs amongst dem, dat aint strange, cos its evry were. For starters n all others investing with other banks, firstbank will do u well if u aint satisfied with ur current bank. I can testify to that cos I've been der.

C ya

Great people,
Can anyone here assist with the current Treasury bills auction time-table or schedule as published by CBN where they usually state which tenors are goin to be auctioned and the amount/value e.t.c? I remember either feelamong or angelo82 or someone posted that kind of quarterly schedule sometime late last year.
I honestly would not want a repeat of what happened to me last week where my 365-day bid did not fly due to several reasons to happen again next week,that's why I'm requesting for the schedule.Thanks everyone,do enjoy your weekend ahead

Check out the file attached, see how it works:

Maturing bills are always re-issued, and it helps CBN make quarterly schedules, now, the next issue will be next week (mar 4), meanwhile, some bills will mature on Mar 5, so, basically, the ones maturing are re-issued a day before maturity.

In my file, quite easy to see bills maturing on mar 5, so expect the same to be issued on mar 4, as it stands, we expect 17.85bn of 91-day maturity, 50bn of 182-day maturity and 187.12bn of 364 day bill to be issued on wednesday (mar 5).

Under normal circumstance(s), we are expecting all that stated above, situations(basically monetary policy issues) may warrant changes to be made, but most times, it doesn't change.

Regards.

PS. Leave the OMO issuance section, don't let us go into that now.

True......I have another Bills maturing on the 5th of next month.............I thought the guy is requesting research report of possible rates normally published by Meristem but I don't think they have the time now.....Everything is out of control especially the unpredictable exchange rate that keeps jumping up................

nitrogen:
Check out the file attached, see how it works:

Maturing bills are always re-issued, and it helps CBN make quarterly schedules, now, the next issue will be next week (mar 4), meanwhile, some bills will mature on Mar 5, so, basically, the ones maturing are re-issued a day before maturity.

In my file, quite easy to see bills maturing on mar 5, so expect the same to be issued on mar 4, as it stands, we expect 17.85bn of 91-day maturity, 50bn of 182-day maturity and 187.12bn of 364 day bill to be issued on wednesday (mar 5).

Under normal circumstance(s), we are expecting all that stated above, situations(basically monetary policy issues) may warrant changes to be made, but most times, it doesn't change.

Regards.

PS. Leave the OMO issuance section, don't let us go into that now.

angelo82:
True......I have another Bills maturing on the 5th of next month.............I thought the guy is requesting research report of possible rates normally published by Meristem but I don't think they have the time now.....Everything is out of control especially the unpredictable exchange rate that keeps jumping up................

@ nitrogen,thanks a billion for this information...at least,my account officer will not say that CBN did not offer 364 days tenor like they said last week
@ angelo82,this schedule was exactly what I was requesting for.I do not bother myself anymore with all those statistics prepared by ''professionals" that never comes to pass...moreover,I go with the bank's rate so I don't lose out (half bread is better than chin-chin sometimes)

Watch out for yourself anyway.......Goodluck!

Damolaskynov:




@ nitrogen,thanks a billion for this information...at least,my account officer will not say that CBN did not offer 364 days tenor like they said last week
@ angelo82,this schedule was exactly what I was requesting for.I do not bother myself anymore with all those statistics prepared by ''professionals" that never comes to pass...moreover,I go with the bank's rate so I don't lose out (half bread is better than chin-chin sometimes)

angelo82:
True......I have another Bills maturing on the 5th of next month.............I thought the guy is requesting research report of possible rates normally published by Meristem but I don't think they have the time now.....Everything is out of control especially the unpredictable exchange rate that keeps jumping up................

Well, it all depends, most houses still forecast, infact, forecasting/making predictions is a normal stuff.

I can actually give a possible rate range for a maturity to be issued anytime soon, but no time.

Its all good.

When is the next auction date