Yes

Magnifico2000:

You mean for primary market?

Bravedude112:
Yes

Please can I terminate my TB prematurely from any first bank branch in another state or I must do it at same branch I did the TB.

I am still getting schooled on it, for now I am trying to focus on cheap stocks just like the movie "wolf of wall street", they are volatile but then again the margin could be great if well speculated

qizick:
Speaking foreign stocks how can we invest in it


quote author=damilola1978 post=80221547]I think stock market is best for trading real time than buy and keep but then again, you may not get that much profit unlike trading foreign stocks

Jejebabaa:


Oga Realityshot, i know that loss is inevitable in the stock market but i dont understand all the losses you are sharing oo. Entry, exit prices and risk management are key in stock market. I guess you need to finetune your strategies cos some of us made profit in most stocks overall and we buy stocks with good margin of safety, high dividend yields and high potential of capital appreciation.

yeah...
i have "fine tuned" myself OUT of that gambling zone.

Bravedude112:
Yes

plz man i bought tbills worth #170,000 on 10/5/2019 (11%) and it's surpose to mature by 22/8/2019 but i want to terminate it as soon as possible plz from ur experience lets assume it's being sold for 10% can u guess how much i would likely get back?

RealityShot:
NOTHING IS SURE IN STOCKS MARKET

..
I lost 20+% on that Zenith last year 2018... I never the dividends that they announced
..
i lost 30+% on dangote cement..
..
i lost 90% on dangote flour despite leaving from 2008 to 2018.. Zero dividends!
..
i lost 90+% on ecobank ater waiting 10 years too! Zero dividends!

..
NSE is very un safe!
do not buy stocks for dividends..companys have learnt bad things and do them without sanction from NSE

I totally agree with you. Naija stock market is the more u look the less u see. I trade penny stock abroad but the loss is not as bad as naija stock market.

xxleoxx:

plz man i bought tbills worth #170,000 on 10/5/2019 (11%) and it's surpose to mature by 22/8/2019 but i want to terminate it as soon as possible plz from ur experience lets assume it's being sold for 10% can u guess how much i would likely get back?

If I get you correctly, u invested #170,000 in tbills.
From the calculation of the tenor. It seems the tenor is supposed to be for 102 days.
So it means ur initial interest before termination would be 11% × #170,000 ×102/365days = #5,225.75

#5225.75 is supposed to be your upfront interest or #175,225.75 at maturity when the interest is not paid upfront.
Now considering the number of days left on the tenor would be vital in calculating your profit or loss when it is terminated before maturity.
So let's assume you are terminating it on the 15/07/2019. It means u would have used 35 days.
So the recalculated interest will be 11% × #170,000 × 35/365 days = #1793.15
Remember that you still have about 67 days left. Now you would have to calculate the remaining 67 days with 10% interest which is 10% × #170,000 ×67/365 = #3,120.55.

Therefore, on the day of termination (15/7/2019) your loss of interest would be #5225.15 - #1793.15 = #3432.6

You would be credited with #170,000-#3432.6 = #166,567.4
Financial gurus in the house, pls contribute to..

Dear house please which is the best tenor for Treasury Bills if one wants to be rolling over?

DUNKA:
Dear house please which is the best tenor for Treasury Bills if one wants to be rolling over?

for me, I'd say 6 months or 1 year since the plan is just to keep rolling over

.

[b]
COPIED.......

*ONE YEAR AFTER SHE CALLED ME AN IDIOT...*
.Dr Olanike Busari
*Important Lessons*

She asked a question in a general group on WhatsApp.
I responded to the question professionally.

She tagged my response and typed: *"you're an idiot"*

I replied: *"Thanks so much, now that you point my attention to this idiotic part of me, I'll surely work on it, God bless you my dear..."*

*And the whole place shook. Over 118 people commented and were so surprised by my response. Of course she was terribly bashed to the extent that she left the group.*

*An hour later she called me to apologise* for her stupidity bla bla bla.
We became friends.

Then I ended up handling her premarital counselling sessions.

Two days ago, on my birthday, she and her husband gave me a gift worth over 1.2million naira.
This was a year after she called me an idiot.

*Life Lessons from this experience.*

*1. MATURITY:* Your reaction to negative feedbacks or situations shows how mature you are.

*2. CHOICE:* You have the power of choice whenever anybody does or says anything offensive to you.

*3. SELF CONTROL:* If someone calls you anything negative and you lose yourself and begin to fight or shout or do anything terrible, you only prove them right.

*4. SILENCE IS GOLDEN:* It is better to keep quiet and people think you're a fool than for you to open your mouth and they confirm you're truly a fool.

*5. DISCERNMENT:* You cannot because the baby pooed in his bath throw the baby away with the bath water.

*6. POSITIVE POWER:* You have the power to win people through your maturity and composure and not through overly being more sanctimonious than the person.

*7. POSITIVE IMPACT:* Life is all about people. If I had responded to her negatively, I would have lost a friend forever.

*8. WISDOM:* There are people who are sent to you by God to help your journey in life to be worthwhile, your meeting point might be at a fighting point. Be wise, even when you're angry.

*9. HUMILITY:* She was humble enough to call and she apologized.

*10. RECONCILIATION:* Maybe there's someone you need to reconcile with today also, go ahead and do just that.

*We can all get better with ourselves, with these 10 key lessons.
I found this interesting and thought it good to share.[/b]

[quote author=Magnifico2000 post=80235129]
If I get you correctly, u invested #170,000 in tbills.
From the calculation of the tenor. It seems the tenor is supposed to be for 102 days.
So it means ur initial interest before termination would be 11% × #170,000 ×102/365days = #5,225.75

#5225.75 is supposed to be your upfront interest or #175,225.75 at maturity when the interest is not paid upfront.
Now considering the number of days left on the tenor would be vital in calculating your profit or loss when it is terminated before maturity.
So let's assume you are terminating it on the 15/07/2019. It means u would have used 35 days.
So the recalculated interest will be 11% × #170,000 × 35/365 days = #1793.15
Remember that you still have about 67 days left. Now you would have to calculate the remaining 67 days with 10% interest which is 10% × #170,000 ×67/365 = #3,120.55.

thanks alot.

ogawisdom:


Please can I terminate my TB prematurely from any first bank branch in another state or I must do it at same branch I did the TB.

You will have to give a try first. There is not guarantee for it some staff you meet at the seat could be flexible while others are stiff. I have collected proof of investment from other branches of First Bank where I did not initiate the transaction so long as they check and it's there.. However, about 2 week back I invested with a branch that's far from me and went to another close by to get the proof because you can't get it same day. The staff seated there out rightly said she will not print it for because I didn't do it there.

Things like this is easy with GTB as whatever request concerning your account /transaction is sent to your account officer /your branch so it does not matter where you initiate so long as your account officer can verify that the instruction is from you.

Apt and spot on

OgogoroFreak:
The problem with I-invest is that;

* They don't give you your interest upfront.
* They don't give Certificate of investment like banks.

This means, they can decide to take "bigger risk" with investors money in the future, while you think your money is in tbills.

And if that bigger risk fails, they might start using Peter to pay Paul (Ponzi!) and Sterling Bank thru its legal team will distant itself from them saying something in the line of They are PARTHIAN PARTNERS we are STERLING BANK!

damilola1978:
I am still getting schooled on it, for now I am trying to focus on cheap stocks just like the movie "wolf of wall street", they are volatile but then again the margin could be great if well speculated

Very true, in fact research shows that they, ON AVERAGE, yield higher than than high price stocks.

It's another auction week. Get your instructions ready.

I'm collecting tax on your returns

ahiboilandgas:
a farm was bought for 80 k in 1989 was sold for 300 m in 2015 funny enough the man that sold it for 80k is still alive and came as witness to transcation

Boss, even if someone bought Bush or farm land that was really genuine, can't he be able to regularize it to get C. Of. O?

Most people might not have money to buy land with c of o due to cost.

Just learnt few things from the few minutes I have read this thread.

Bamz:
It's another auction week. Get your instructions ready.

I'm collecting tax on your returns

What day please

The startup space in Nigeria is just getting exciting as the days go by. PiggyVest is probably one of the most fascinating of them right now. Let me gossip about them a bit.

So their funds are managed by AIICO Capital (who have a SEC license). Legit? Check
They've got a micro-financing license from CBN. Amazing? You bet!

Apart from the fact that I love the concept of their business in that it encourages savings, they've got a T-bills styled service called "Safelock". The interest you get is up to 13% pa (upfront) and you can set a duration between 10 and 1000 days.

For those averse to managing funds from software applications, LOL, here's an excerpt from the coy's portal:
"Our operational costs are relatively low - we do not operate multiple branches or hire a lot of staff to manage operations. We are also able to negotiate premium rates due to volumes."
I personally think this is the future of fintech. Most Millenials and Bitcoiners like me probably have no problem trading from apps anyways.
-----
chigo4u,
July 18

Bamz:
The startup space in Nigeria is just getting exciting as the days go by. PiggyVest is probably one of the most fascinating of them right now. Let me gossip about them a bit.

So their funds are managed by AIICO Capital (who have a SEC license). Legit? Check
They've got a micro-financing license from CBN. Amazing? You bet!

Apart from the fact that I love the concept of their business in that it encourages savings, they've got a T-bills styled service called "Safelock". The interest you get is up to 13% pa (upfront) and you can set a duration between 10 and 1000 days.

For those averse to managing funds from software applications, LOL, here's an excerpt from the coy's portal:
"Our operational costs are relatively low - we do not operate multiple branches or hire a lot of staff to manage operations. We are also able to negotiate premium rates due to volumes."
I personally think this is the future of fintech. Most Millenials and Bitcoiners like me probably have no problem trading from apps anyways.
-----
chigo4u,
July 18

If i put 200k in safe lock for 90 days, will i earn the 13% or over 13% per annum stated in the app?

Good morning all, please I'll like to know can i have 2 or more Investment on Tbills in the same bank or different bank?

Ugo04:
Good morning all, please I'll like to know can i have 2 or more Investment on Tbills in the same bank or different bank?

You can have as many as possible either in the same bank or several banks.

These banks have come again with their usual disgust for competition and late entry into trendy stuff.

GTBank is now offering loans (10k-5M) at 1.75% monthly interest rate!

Repayable in 6-12 equal monthly installments.

These guys would eventually kill RenMoney and the likes.

https://www.gtbank.com/personal-banking/loans/all-loans/quick-credit?utm_source=Linkedin&utm_medium=banner&utm_campaign=Quick%20Credit#nav-menu

We should expect an app soon to contest with Piggybank, and other FINTECHS.

These banks have come again with their usual disgust for competition and late entry into trendy stuff.

GTBank is now offering loans (10k-5M) at 1.75% monthly interest rate!

Repayable in 6-12 equal monthly installments.

These guys would eventually kill RenMoney and the likes.

https://www.gtbank.com/personal-banking/loans/all-loans/quick-credit?utm_source=Linkedin&utm_medium=banner&utm_campaign=Quick%20Credit#nav-menu

We should expect an app soon to contest with Piggybank, and other FINTECHS.

Grupo:


You can have as many as possible either in the same bank or several banks.

Thank you sir

Acidosis:

These banks have come again with their usual disgust for competition and late entry into trendy stuff.

GTBank is now offering loans (10k-5M) at 1.75% monthly interest rate!

Repayable in 6-12 equal monthly installments.

These guys would eventually kill RenMoney and the likes.

https://www.gtbank.com/personal-banking/loans/all-loans/quick-credit?utm_source=Linkedin&utm_medium=banner&utm_campaign=Quick%20Credit#nav-menu

We should expect an app soon to contest with Piggybank, and other FINTECHS.

This is what banks were supposed to do in the first place but instead they sat in their offices collecting free income from COT(Account Maintenance Charge) from current accounts. Now that most people have closed their current accounts and move to Savings accounts, that free income has dropped drastically. People have moved because with eChannels and Cashless, you can now do anything from Savings account. Moreover, dividend is now directly credited through eDividend mandate.

Consumer lending is a big income generating business. The banks went to sleep and that was why the likes of Renmoney moved in. I once told a banker that if a bank makes 10k as interest through consumer lending from 1million customers in a year, the bank will net N10Billion income without sweat. This is easily achievable due to our population and our high consumption levels. The rate of default in consumer lending is low because it is normally tied to the salary of the borrower.

needful:


I totally agree with you. Naija stock market is the more u look the less u see. I trade penny stock abroad but the loss is not as bad as naija stock market.

Are you in SA?

Acidosis:

These banks have come again with their usual disgust for competition and late entry into trendy stuff.

GTBank is now offering loans (10k-5M) at 1.75% monthly interest rate!

Repayable in 6-12 equal monthly installments.

These guys would eventually kill RenMoney and the likes.

https://www.gtbank.com/personal-banking/loans/all-loans/quick-credit?utm_source=Linkedin&utm_medium=banner&utm_campaign=Quick%20Credit#nav-menu

We should expect an app soon to contest with Piggybank, and other FINTECHS.

About 21% per annum..

NL1960:


This is what banks were supposed to do in the first place but instead they sat in their offices collecting free income from COT(Account Maintenance Charge) from current accounts. Now that most people have closed their current accounts and move to Savings accounts, that free income has dropped drastically. People have moved because with eChannels and Cashless, you can now do anything from Savings account. Moreover, dividend is now directly credited through eDividend mandate.

Consumer lending is a big income generating business. The banks went to sleep and that was why the likes of Renmoney moved in. I once told a banker that if a bank can makes 10k as interest through consumer lending from N1million customers in a year, the bank will net N10Billion income without sweat. This is easily achievable due to our population and our high consumption levels. The rate of default in consumer lending is low because it is normally tied to the salary of the borrower.

Exactly. 10 billion is even too small to what they're capable of achieving from consumer lending. The era of collateral is gradually fading. All they require now is account statement/transaction history. BVN and account mandate have also simplified the whole process for FINTECH.

freeman67:


About 21% per annum..

1.75% interest on a loan of N1.2m (12 months plan) means a monthly repayment of N100,000 + N7500 interest for 12 months.

Seriously, this is the best deal I've seen anywhere in Nigeria (excluding Cooperative societies).

Acidosis:


1.75% interest on a loan of N1.2m (12 months plan) means a monthly repayment of N100,000 + N7500 interest for 12 months.

Seriously, this is the best deal I've seen anywhere in Nigeria (excluding Cooperative societies).

I think you must have credit worthiness to access GT quick loan oh.

Kirchhoff01:
Are you in SA?

No. America