watzz:



Too Bad no one want to help, Still pleading though for a way around. anyone? kindly put me through.

I believe 30th of November was the last auction date for the year. Would advice you get from the secondary market through First bank

Cheers

Judging from what you wrote, I believe it’s a “lesser” role and that’s why they might have been disenfranchised when you told them you had better qualifications

In their minds, they already “know” you might not end up taking the job or even stay for long in the company. So no recruiter would want to go through the process of re-recruiting for a solo candidate because it cost money and time

If they really wanted you on the role, they would have asked you to bring your CV on a later date. Just you know, employers need quality employees too. So they are flexible when they see one.

Cheer up! Something else will come along.

Investnow2017:


Open a Stanbic IBTC Money Market Mutual Fund for him/her. You wont regret it. While T/Bills are currently 15-16%, Stanbic MMF is currently 17.49% even as at today. And you stand the chance to benefit from compounded returns. Just my opinion, because it is working for me.

Sir,

I bet to disagree slightly. We just can't look at T-bills rate without factoring the true yield considering your interest is paid upfront (time value of money). So, a 364 tenored Tbill at 15.2% will give you nothing less than 17.9% as true yield (Interest/ 1 - interest)

We all have our different reasons for investing and while a mutual fund might be ideal as a TRUST FUND for kids considering the low maintenance especially when you don't have to roll overs coupled with the fact that you can also contribute to the scheme on a Monthly basis, it still doesn't take away from the fact that T-bills might be the ideal investment vehicle for others

On the strength of returns, i will say both are almost at par with T-bills possibly being higher. Are the returns on Mutual funds tax free?

kwallet:

Thanks bro. It means alot!

Loving “One up on Wall Street” already.

Very easy and interesting to read.

Many Thanks for the recommendations. Can’t wait to get the rest of his books

talktrue1:

Note that tbills rate for 91days is around 13% -15%
If you liquidate your 365 days Tbills investment after 60days, the bank MAY have to re-calculate your investment with rate less than 90days i.e 13%. Remember that the less the number of days, the less the rates.

This is where mmf comes in. If you know you WILL need ur money anytime but no specific date yet, go for money market fund. You are free to liquidate your fund anytime after 30days without any charges.

Stanbic ibtc rate is same no matter the number of days you invested. Thats from my own calculation.

True, 91 days are lower. However, didn't know banks had the liberty of recalculating rates! Thought they are only custodians since Tbills are technically "loans" to the government.

Would find out from my bankers how they actually treat next week.

Cheers

Partnerbiz3:


I strongly feel this will not be correct.
If you are given your interest earned pro rata like you said above, then it's better to invest for instance 1 million at 18% and terminate after 91 days thereby earning 18% interest for 91 days INSTEAD of investing at sth like 13 - 15 % ( the usual rate for 91 days TB) from the outset.

Not sure i get you correctly. it's a case of pre-liquidation!

Partnerbiz3:


Ok thanks.

Do you know about this

If I invest say 1 million in T bills for 365 days at say 18% and I terminate after 60 days, what's likely to be my penalty?

Let me try and break it down.

A 364 days tenored Tbill of 1M at 18% would mean that N179,506.85 interest was paid upfront based on this calculation (1,000,000*18%*364/365) while a debit of N1,000,000 - 179,506.85 = N820,493.15k was taken by the bank and would have repaid N1m at maturity

However, since you want to terminate after 60days the implication is that you would lose part of the unearned interest that was paid upfront and the bank will achieve this by deducting the amount on the principal to be repaid.

So rather than them credit you 1Million, you will be credited N850,082.19 which is based on the below calculation

Interest earned on 60days (1,000,000*18%*60/365) = N29,589.04
Amount due (to be repaid by bank) = Amount at maturity + earned interest - upfront interest
N1,000,000.00 + N29,589.04 - N179,506.85 = N850,082.19


In sum, principal invested + earned interest = N820,493.15k + N29,589.04 = N850,082.19

Caveat: I've not actually terminated any of my Tbills and this is only based on mathematical calcuations

Just two observations

What's the heat like during the day considering you used just the zinc roof? Might be crazily hot during the dry season

Hope the DSTv sub is the one for Commercial? So you don't have the Dstv guys coming after you.

Lastly, what's the ROI and repayment period like? I know it's still a side hustle but it should be properly accounted for

Apologies if they sound idiotic. I've not been to a standard viewing centre before except for bars

Can someone please help clarify.

Are the rates on the MMF fixed? I believe stanbic also invest in TBs and all. From all indication, TB rates will likely "soften" going my government efforts to reduce cost of borrowing

So, isn't it best to go long and lock my funds in a one year Tbill and work away with c18% as against the monthly computation of the MMF?

Again, are the rates on MMF fixed?

From the figures shared, Stanbic must have closed at 18.28%

Seems like rates are dropping!!! Or they have finally decided to "wake up" cos the difference between them and FBN isn't much.

I still feel their charges are conservative. For God sake, have you tried banking with other banks. I had to remove my funds from one bank like that because the charges are just ridiculous

Also, GTB/ other banks are not a telecommunication companies and the revenue on SMS doesn't even sit with them. What's is the cost of sending a text from your phone to a friend vs the cost being charged by these banks on SMS?

Boss13:


Do you mind CBN, rather than encourage a spending policy; they increased interest rate on treasury bills encouraging Banks to divert funds to purchase them. This same CBN has created about 5 exchange rates in this country. Who would see Treasury Bills at 15% and still go to fixed term deposit in a bank at 8% - it can't happen.

Encourage spending when inflation is already hitting the roof!!! Treasury Bills are just not a vehicle to lend to the government but more importantly to also mop up excess cash from the economy to control inflation.

Just a little provocation!!!

We know the "Government" is looking for a cheaper way to fund the current budget deficit. Going by the gist we all know, which is still subject to senate approval, the Finance Minister route might be possibly approved.

I don't want to go into the details of the implications but one that seems to stick out like a "sore tongue" is that the current rates being enjoyed on T-bills will possibly drop by 200 basis point (minimum).

So, isn't it better to lock my funds for the next one year or anything about 300+ days? So, why will i want to partake in this current primary auction knowing the maximum tenor i can get out is 182 days when we have secondary market equally doing better?

If i'm so crazy about primary market, would rather wait for the next auction scheduled for August 31, 2017.

It's going long all the way!!!

vitality22:

Stanbic secondary market isn't bad either. Today 10-08-17, they had
91days @ 13.42%
182days @ 17.4%
364days @ 18.53%

Those are the last primary market auction rates according to the CBN website. Stanbic can't deliver on that

chyima:


walk into any of their branch from 10 and find out the available tenure and rate for the day.I think the portal closes by 12pm for secondary market so endeavor to be there before 12.

Stanbic bank isn't great for secondary market, hence expect a lower rate but they are great for primary market. Otherwise, use FBN

TONY56:



It's now been officially confirmed that there will be no 364 days tenor on offer next week for NTB. only 91 & 182 days tenors will be available.
See the link below for the details and the amount that will be offered.

https://www.businesspost.ng/2017/08/09/nigeria-sell-n62-4b-treasury-bills-next-wednesday/

Thanks,

Good thing I already secured 352 day @ 18.2% at FBN yesterday

FBN is sure the "king" of secondary market

walexlo78:
Hello house, please do you usually ask the bank's bid rate when you turn in your application and then compare the upfront interest you receive when the bank's bid go through? I always ask and I ask Stanbic in this last bid and they said they are bidding 18.5% for 364days which was still below the cbn marginal rate. So why is Stanbic crediting 18.48%? Are they making a spread on investor's capital??

Please lets take this up with our respective branches and lets compare the explanations from them.

I believe they make a "spread" off investors that can't meet the 50 Million primary market limit.

emmanuelewumi:


If your bank is frustrating as per Treasury Bill investment, try your stockbroker.

Investment one will accept 100k

United capital will accept N1 million

CSL stockbrokers will accept N1 million for TB.

By the way do we still have smart people banking with Union Bank.

Please, do you have any idea of what their last rates were and how that differs from Stanbic and First bank?

Fm4real06:

This is a cool write up. It seems most of the banks are now discouraging customers from investing in Tbills.
There is something i still dont understand, cant Fedgovt do something to stop them from discouraging their customers since the fed govt is in need of our money?
Uptill now my bankers in the branch i opened my TB are not happy with me. Is it by force to do FD?

Not sure the government can do that because the banks are not publicly saying you can't invest

Also, the government is looking for cheaper funds to borrow that's why they came up with the 50million requirement to investment in the primary market. I think they are trying to encourage FGN bonds which have lesser yield.

Lastly, the bank is only trying to eliminate "you" since they can easily take your money and buy T-bills. Earning more and pay you less on FD or saving accounts. The government is not really bothered because the banks will still invest either ways. Also, there are institutional investors like the pension managers that invest your pension in T-bills.

wellsaid:
Good evening to u all. I have been following this wonderful thread for quite a while and I must say I appreciate the efforts of gurus in order to make this thread one f financial enlightenment.

Please I have a question, as regards purchasing of TBILLs either in the primary or secondary market, can u put DIAMOND BANK on the same level with STANBIC and FIRST BANK? I use DIAMOND BANK but I see that stanbic and First bank happen to be the most recommended banks for TBILLs here.

If DIAMOND is good to go, I think I will start investing in TBILLS right away.

I don't want to bore you with a long strong, so I will try and make it brief using my own personal experience.

I bank with Diamond and I've always wanted to invest in T-bills through them. However, their rates are not encouraging in addition to their tactical ways of persuading me not to invest in T-bill. A novice would have been easily fooled.

I have a bit of banking experience, spent 3.5 years with two good banks, so I'm no novice to their ways. Banks enjoy "float" on current accounts which they lend out to "borrowing" customers at over 18%. Mind you, there's is no cost of funds to the bank since they are paying the depositors nothing on current account deposits and when they do (for FD and saving accounts), it's always marginal.

In summary, banks would rather keep your money with them. However, when you invest in T-bills, the funds are not available for the bank to use or earn on. Hence they will give you all the silly excuses on earth when you give them an instruction.

Based on this thread, I had to open new bank accounts with both banks - FBN and Stanbic and I tried investing through both (this week). Despite the fact that my funds had been sitting with FBN for a week prior to bidding, they still came back with a silly excuse of not getting approval from HQ. Again, I suspect the branch does not want to lose deposit, at least not for the next two weeks since they are now promising and begging that they will make next bid

Stanbic only got the funds Monday and by Tuesday, a lien was already on the funds and just yesterday I was debited.

On a lighter note, Stanbic wasn't one of the banks i worked for

2n2k:


Mine is 18.43% oo. They don cheat me.
They must vomit that 0.05% by fire, by force.

They no cheat you o! The tenor is actually 364 and not 365. So 18.43% * (365/364) would give u 18.48%

Stanbic just debited me!

What's the model?

oluit:
Pls I need an advice.is it advisable to allow the surveyor that sold a land for me to process my survey plan because I don't no if he is registered or not.

Hope you've do a search to be sure it's free from any government acquisition? To be on the safe side, I will go with a neutral surveyor just incase there are issues that this first surveyor might want to hide being the seller

Cheers

Please send same to Olakanmi80@gmail.com too. Highly interested

Would it work on Smile and Swift networks?

please be kind to drop me the plan olakanmi80@gmail.com

What's the price?

Memphis357:
The sad truth....

I've often held that a few smart people will continue to make money especially in hard times. A few facts show I am right. How do I mean?

Multichoice/DSTV comes up with a bunch of crap/lowlifers bunched in a house for 90 days. Open subscription lines for the unintelligent to "vote" and we still do. They offer a prize of N25 million to its winner and some cash (plus maintenance fee/logistics for all contestants and support staff to the tune of about N100-150 million. Allow you to vote multiple times at N30/vote. The receive about 20 million votes (or more) and make a cool N400 million in profit.

Mind you, you still need to subscribe to their services to watch and vote. They target the jobless and the dunces. Because they know you're unintelligent enough to watch it, form alliances and even discuss it. Whoever wins, walks away without knowing you even exist.

Have you asked yourself, why don't they have such shows in Asia? Why was it stopped in Europe? Are you the only lazy one to come and watch jobless people sit around for three whole months? Cos if these people had a job... Even if it pays just N50,000 a month, you won't resign to go and compete in such tomfoolery.

Wake up young people and be productive... Big Brother Naija is just another way of telling you you're dumb .... And you're agreeing and nodding your head!

Why I agree with some of your analysis, I do have reservations about some.

Just to set the record straight, i'm not a fan of Bbnaija or any of the big brother shows. I don't believe I should sit around wasting my time watching others live their lives.

That said, I really would love to look at it from the concept of content is king. I'm not sure there's any show in Nigeria that you truly would have over 11 million people voting. That's close to 10% of total GSM penetration assuming we have over 100 million active subscribers. That's really commendable on the part of the organisers and a good food for thought for idle youths about cashing in on content generations

We have seen a lot of regular joes turn Instagram "celebrities" through content creation and are making money off it. I won't want to mention names but we know these people

As for the analysis that BBnaija made over 440 million from voting that's not true. There's a revenue sharing formula when it comes to use of short codes. It will shock you to know that the telecoms/network takes close to 60% of the total revenue while the balance of the 40% is further shared between the aggregator and BBnaija (maybe at a 20% : 20%). Furthermore the cost of producing bbnaija content will also be very expensive. I doubt if their ROI is really as positive as we think.

In summary, the major take out for me is rather than "condemning" other people's contents, why don't we look for contents that we can also sell and profit from. What's the difference between watching movies, bbnaija or even the EPL. Ain't you watching people make their millions too while you sit and do nothing. We can't remove that after a day's work we all love to relax and relaxation is very subjective

My 2 cents

skimanski:



He has, Its just me that haven't. Maybe by now I for don own hotel near Oriental

Hope you've done something to "secure" your kids, else they too won't "forgive" you

Twaci:
That'd be a novel; Are You Afraid Of The Dark? By Sidney Sheldon

Funny thing is that someone exchanged my novel with hers whilst on a journey and alighted without switching them back. She got my Star Wars novel and I was left with her Sidney Sheldon.

Guess she never valued it, her loss though because it's the best novel I've ever read!

That was actually the last novel he wrote before he died in 2007. A good read!

how much?