₦airaland Forum

Akin3891:
No more tbs, I'm at first bank right now, the guy said they got a message frm cbn yesterday not to accept individual investments, both on secondary n primary markets, is this the END? He said its in d news already

Lol! Confusion everywhere

Edit

ritalori2:
You were treated like a "common club girl" you and the policemen are birds of the same feathers. So, club girls deserve to ne treated the way you were treated right!?

As in! No mind am.

Nwanne ndoo. Your ordeal is unfortunate and sad.

However your tone and language clearly shows you az a trouble maker.

gerizzim:
They have increased it to 12.11% ND a fund hovering around #300k wit Dem dt u don't withdraw will give u an interest of #100naira daily if u do ur maths very well.

I see, thanks

NicoKator:
. That is what I noticed too, I'm even thinking of liquidating and putting part of my funds in Treasury bills because I don't think rates would go up with the present economic realities nd measures CBN has put in place

Even treasury bills is not faring any better. CBN is bringing so many rules and confusing everyone - even banks themselves.

Funny I was even thinking of porting to MMF.

gerizzim:
As at the tym I followed Dem up around last mnth ND all things being equal, a capital hovering around #260k wit Dem should give you a daily Interest of #80naira

That's about 29k per year which is about 11%. Not bad

Jejebabaa:
No

Thanks. That's good news

Viqtour:
They debited the entire money but I still haven't received the upfront

I see. Thanks

Viqtour:
Good day house.

I was lucky to see 11.5% for 359 days today at First Bank. I did it and I was duly debited. However, I normally receive my upfront by 4pm but I've not been credited till now.

Fellow investors, has anyone experienced this recently with FBN?

Just curious, did they debit the entire money or part of it?

Jejebabaa:
Please see today’s Tbills rates below. Kindly choose your preferred tenor and also confirm if you want your interest re-invested or paid upfront.





Maturity

Tenor (Days)

Rate (%) p.a.

Yield (%) p.a.

12-Dec-19

37

9.00

9.08

30-Jan-20

86

9.50

9.72

14-May-20

191

10.50

11.11

13-Aug-20

282

11.20

12.26

29-Oct-20

359

11.50

12.97

Afrinvest

Is it being prorated as well?

contumely2:
There is more to this than meets the eye. Seems what you are stating are for public consumption. It's understandable. PETROL STATIONS DON'T RELY ON 10 PER LITRE ISH.

Petrol stations buy from "bunkery" at a very cheap rate. They go there at times armed. I know a petrol station in Onitsha that is into it full time. (I know you must know about it.)

They also tamper with metres. If you take a 20 litre gallon to any station, at least 25 litres will be needed to fill it. Some stations have been sanctioned for this and I am sure those are the ones that didn't settle the inspectors ---- I think they are from DPR.

All these are first hand experiences.

If petrol stations sell or rely by the margins you are quoting, then 90% of stations would have closed. There are many stations here that can't sell upto 5,000 litres daily.

It's just like a governor contesting just because of salaries he will be paid --- not upto 1m sef.

But he will embezzle billions through contract inflation etc.

Almost all big money in Nigeria are from illegalities and standard breaches.

Naa wa o.

Of course I don't support the action of Sars but I have issues with long beards، dreads, etc. It seems to be a sign of not-too-seroius persons. Personal opinion.

iammuhd1:
It looks like a staged one. I have never seen a pot bellied farmer in my 27 years in this world.

You're obviously too young to know MKO abiola

contigiency:
[s]
Unfortunately bello is up against those who institutionalized poverty and corruption in the state. The PDP and the Wadas. They accumulated the salary arrears that everyone is criticising bello about. So bello is still a better option.[/s]

Come on stop that. Even if they accumulated the arrears, what has he done with the billions received in bailout funds.

It is unspeakably wicked, callous and unconscionable to owe so many months, yet throwing money around in the name of campaign.

Jejebabaa:
I think porating the amount is not a bad idea though than returning the entire amount completely. Atleast some profit has been locked down while using the remaining funds to chase other assets. Rates are expected to keep going lower considering this CBN OMO actions. From Oct 2019-Feb 2020 (4 months duration), 7-8 trillion naira are expected to mature from OMO bills. Most of this money will have to be chasing other assets class, which means demand will be more than supply and therefore rates will keep going lower in the money market.

Wow! That's some serious dough. I really wonder the impact of such amount (almost our budget) pouring into the economy within such a short period without the option of reinvesting it in the OMO bills.

Sure say investment options go still remain so??

Jejebabaa:
Dear Valued Investor,


In the past two weeks the CBN has sent out a number of circulars regarding the modality of OMO auctions going forward.


To begin this discussion, we feel the need to first explain what an Open Market Operation (OMO) is. Going back to basic economics, it is simply a tool with which the monetary authority (CBN) uses to regulate the supply of money available in the economy or to regulate the supply of money that is on deposit in Nigerian banks. Going by this definition, an OMO auction should traditionally be between the Central Bank and the banks it regulates, in a bid to control money in circulation. However, other classes of investors, other than banks have been allowed to participate in the auctions, prior to the CBN’s circulars.


Now, these circulars released by the CBN have addressed various aspects of OMO participation:
1. The first circular which was released upper Friday required banks to be adequately funded ahead of the OMO auction result, which we believe was to help curb the appearance of padded demand at the OMO auctions.
2. The second circular prohibited bank customers with loans from participating in OMO and Treasury Bill auctions.
3. The third and fourth circulars which were the most important ones, effectively barred access to the local investor universe (Corporates, Individuals, Pension Fund Administrators, Asset Managers, Insurance companies etc) from participation in either the primary or secondary market of OMO bills. However, not excluding Foreign corporates and Commercial banks.

This means that the apex bank is telling all excluded parties to go and play in other asset classes (e.g T-Bills or bank placements), as a means of managing any short term liquidity needs . We opine that the raft of circulars from the CBN, point to its continued attempts to put a lid on the high interest expenses on the CBN’s balance sheet, associated with these OMO bills in the era when it was offering elevated interest rates to whet the appetite of Foreign Portfolio Investors (FPIs), in order to support FX reserves.


What Happens Now?


In the run up to Q4 2019, a major concern across the domestic fixed income market was how the CBN was going to handle the deluge of liquidity from maturing OMO bills. Between October 2019 – February 2020, scheduled OMO bill maturities are in the range of N7-N8trillion. So what is going to happen to all that liquidity?


In the near term, the impact of the OMO ban on local investors could play out in three folds:
· Firstly, it will drive a price rally (significant drop in yields) across debt instruments, as excess demand from building local liquidity chases the thin supply of available T-Bills.
· Secondly, the sudden closure of the large OMO bill market would lead into a drop in trading volumes across the front end of the NGN yield curve.
· Lastly, local investors would look to chase longer duration T-bills and would essentially sell off positions in short term T-bills.

Going forward, as more OMO bills mature (November – N1.45trillion and December N2.7trillion), excluded investors would have to find new outlets to pack these monies into, including:
1. Treasury bills – which we already mentioned is significantly smaller than the OMO market, advertently leading to further yield compression. We spotlight that at the T-Bill auction yesterday, the DMO sold N28.02billion, N10.62billion and N93.92billion of the 91-day, 182-day and 364-day bill respectively. The respective stop rates declined by 131bps, 55bps and 144bps to 9.49%, 10.45% and 11.50%, compared to the last auction.
2. FX – which could exert pressure on the Naira.
3. Bank deposits – the excess demand could also apply some downward pressure on deposit rates.
4. Equities – We have continued to spotlight the attractiveness of the equities market (down 16.29% YtD). Despite their recent apathy towards the local bourse, PFAs and other fund annuity fund managers may have no option but to reallocate funds in to the equities market, as opposed to T-Bills that would go well below inflation rate (11.24% y/y as at September 2019 versus 1yr T-Bill at 11.50%). On that note, our top picks remain DANGCEM, GUARANTY, MTN, SEPLAT, NESTLE, UBA, UNILEVER & ZENITHBANK.
5. Individuals and some corporates could also look to invest in money market funds like Abacus Money Market Fund currently offering 11.50% p.a






Warm regards,
Investment Management & Research
Research@investment- one.com

Good news �

needful:
That is my point. Permit me to mention figure, I already calculated 12% of 30m which will be around 3.6m to offset my Bills abroad. U can imagine one yeye bank abi cbn deducting only 10m, the interest will be useless to me. So is better they return the money so I will explore other avenues or options. Am not just in support of that prorating.

I don't get how this prorating works. You mean you were paid interest just for the 10m and the remaining 20m is still in your account? Kindly help out

monlawal:
For your mind you have countered me. You have forgotten that 13 and above some are having sex with their boyfriends. Where do you classify that?

That people are doing it doesn't makes it right. A child under 18 shouldn't be having sex.

Thus legally even if they both agreed, it's constitutes an illegality, and in fact seen as rape.

lilbest4:
whose pússy has he grabbed?
[s]No Nigerian politicians comes close to Donald Trump[/s]

Abeg shut up. Nonsense

introvertme:
Which CNN are you watching? The one that has retards like don lemon, Brian stelter and van Jones?

Damn! Another fox news beauty.

Seriously you guys are beyond redemption. Spits

Righteousness89:
[s][i]It Shocks me how CNN network pampered this case of Ms Kate Hill like it was nothing.. Infact stylishly avoiding the Matter..
all because she is a Leftist!

Just Imagine if it was President Donald Trump...

They would Have Crippled Him ......



I Pray GOD Should give my Country, Nigeria a "President Trump"

[/i][/s]

Empty headed nonsense. In your blinded hate you've failed to see the serial lying, prolific power abusing rascist is the equivalent of African dictator, something like Abacha or Idi-Amin.

Yeye

Quality20:
what's ur prob? are teen girls across all cultures n societies not having sex? so is it not better if d sex is restricted to marriage, rather having it free with every tom,dick n harry. Abeg I support marriage style of Hausa ppl o

Indeed. With such mentality, you wonder why poverty, VVF, highest no of uneducated/out of school, highest maternal mortality, etc is so pervasive in the north.

SMH

monlawal:
The teenagers have Consensual sex anyways. Married or not.
If not for some that God décide to protect from the world

Teenagers, by their very nature, CANNOT give consent. Get that into your heads.

bibianna:
Nigerians my sister and i just returned from our Kaduna trip with the train and i can tell you first hand news that our experience going was not funny. We got to Idu train station about 06:10am met a little line waiting to buy tickets. The officials opened up around 06:30am and before you know it the line was scattered as people scampered to get tickets for the first train trip.
We quickly ran hoping to get our 1st class tickets only for us to be told that it wasn't available, but right before us a ticket was sold to a big hausa looking man. Then i heard that the tickets available were for standing. But as God will have it, i saw how a seat ticket was sold to a woman who bribed an official so i had to quickly do same with some pleading before i was given two tickets for me and my sister. We were made to run with our bags all through the stairs to make it to the 1st train trip for the day. That was how we got seat tickets.
I want to report the officials in charge of ticketing. They are rude, liars, dishonest, discriminative and corrupt.

*Sigh* Naija. . .

oludy:
You could try mopping up with mutual funds. A bit more returns than leaving funds in your bank account i believe?

Definitely. Mmf is likely my next point of call if this TB issue persist. The good thing is the yield for most of them is almost as high (if not higher) than TB sef.

crowntoro:
alright... No need to panick then but with these new procedures, I hope our money is safe o

Why won't the money be safe? It's either it goes or it remains in ones account. There's really nothing to panic about.

Lol! I could have sworn it was an act of some sort. Look how he was even wagging his finger to call her.

Something obviously not right here.

MEJOISLAND:
Was almost kidnapped there last month.
Four passengers were taken away from the bus parked next to the one I boarded and we were their next target. This took place in broad daylight. One of them stood by our bus shooting. It was the scariet experience I have ever had. I lost all hope of surviving mainly because of where I come from plus my religious affiliation. Those guys don't spare Christians at all.
It was former governor of Kogi state, Idris Wada who saved us that day. But for him, I would have been in the grave now.

Goodness me. Which part of the road did this happen?

And yet just between shagamu and Benin, you pass over 40 check points. Why can't those security agnet be redeployed to the kaduna Abj road

Inappropriate.

What does his dad think of this?

Viqtour:
Same with Gtb and First Bank today.

Na wa o