₦airaland Forum

Thanks a lot,will make payment tomorrow as 17th is deadline for payment at 195 Naira rate...dunno the new rate these guys will call for their visa payment and I was not a beneficiary of Dasuki's dash...

Beniyoha01:
You are good to go bro.... do not fret, being single is not necessarily a red flag, it's being single and worthless that is. loads of single persons like me have gotten the visa, just be smart, dress your job and be 100% articulated, do not fret infront of the vO, thats all!

Hi Lady G,Chloe and all other alumni of this visit visa thread. My aunt is inviting me over for holiday in June and I want to start processing now that the fee is still 195 to 1 USD. I will be 34 by Feb 24,single and work as a Supervisor with DHL Aviation. Was in Dubai for 5 days last month during the shopping festival.
Is it too early to start the process? Read through earlier thread and it seems being single is usually a red flag...My salary is ok even after tax. Please advise

Travelex never has money...anytime you go,it's the same story...last week Tuesday,it was only rands they had to sell.On Monday,the lady Operations manager confirmed they didn't have any currency at all to sell...and to know that it's the same Travelex CBN is hyping as the ideal BDC for Nigeria...confused bunch of people!!!

exclusiveoloori:
Pls house, when is the next auction?

Hopefully tomorrow as there is payout maturing later this week.On the 7th precisely.

Hi house,
Just got informed that GTbank was not successful at today's bid. I bidded for 91 day tenor at the bank's rate,will have to look for other opportunities to invest as T bills doesn't look too rosy for now. Will keep following the trend here sha

These are the results for yesterday's biddings obtained directly from the CBN website

Government Securities - Primary Market(NTB)
Auction Date 10/21/2015

Security Type NTB
Tenor 91
Auction No 21-10-2015-91 Day
Auction Primary Market
Maturity Date 1/21/2016
Total Subscription 78334.95
Total Successful 36786.99
Range Bid 6.9000 - 12.5000
Successful Bid Rates 6.9000 - 8.4990
Description Issue
Rate 8.499
True Yield 8.683
Amount Offered (mn) 36786.99
Auction Date 10/21/2015

Security Type NTB
Tenor 182
Auction No 21-10-2015-182 Day
Auction Primary Market
Maturity Date 4/21/2016
Total Subscription 101567.3
Total Successful 35000
Range Bid 8.9000 - 13.5000
Successful Bid Rates 8.9000 - 10.1500
Description Issue
Rate 10.15
True Yield 10.6911
Amount Offered (mn) 35000
Auction Date 10/21/2015

Security Type NTB
Tenor 364
Auction No 21-10-2015-364 Day
Auction Primary Market
Maturity Date 10/20/2016
Total Subscription 222011.19
Total Successful 66385.9
Range Bid 10.0000 - 15.2066
Successful Bid Rates 10.0000 - 10.8170
Description Issue
Rate 10.817
True Yield 12.125
Amount Offered (mn) 66385.9

The rates across board is really dropping...10.817% for 364 day tenor is really PAINFUL...I only hope all these attempts at rallying the economy does not backfire anytime soon,the sacrifice will only be worth it if eventually the economy improves. Otherwise,...

Hi house,
I invested in T-bills this week from GT bank as it was clear that next week is Oct 1st and this week was actually published on the CBN schedule for primary auction.
As I type,nothing has happened yet an
d my capital is still intact.I'm happy sha,only I had planned to do some stuff with the interest this weekend.
My question is,why would GT bank approve collection of bids for primary auction this week if it was clear that Sallah was going to be observed? I don't know if I have to cancel the bid on Monday or not,anybody in the house who has experienced this sort of dilemma should please advise on way forward.
Happy weekend,Barka de Sallah

FKBZ:
Have some investment on tbills in gtb which should expire Aug,did for 91 days.
Now am planning to do a year plan for tbills.the interest I plan to get should be able to start a new bizness for me.but am scared that a year is too long,how many of u have locked your money up for up to a year.

Spoke to my dad recently and we were gisting abt bills,me was letting him know its risk free,but he said something which shocked me and that is if the economy collapses nko.

Brother,go ahead and invest long term. I also nurtured the same fears you currently had and ended up making a huge mess of my initial capital that would have been seriously ''working'' for me by now. I was fortunate to invest big time long-term during the uncertain election period early this year and I am the better for it...Nigeria did not ''roast" afterall...most of our fears only exist in the ephemeral anyways...
The more you stall,the more value your money loses over time especially in the current circumstances...GO AHEAD!!!

Hello House !!
It's been awhile,I just wanted to drop a note and wish you all a profitable bidding this week. I will watch and study the trends for now to see where it all pans out during this transition period,the rate at which the Naira appreciated to the dollar just after the announcement of the presidential elections is enough reason for me to take things easy for now and really see how it all patterns out.
Stay blessed and safe,everyone

Hmmn...@ummitoagirl
I guess it depends on when this schedule was prepared,my calculated guess is that it will take place next week to accomodate both the election weekend of the 28th and Easter weekend starting from the 3rd of April. Moreover,the volumes that will be available on maturity next week does not look so much.
Could be worth the try for those who missed out on this week's bid though,keep your fingers crossed...

ummitoagirl:
Does this mean treasury bills would be sold next week as well?
See attached image

I hail everybody here O!!
I just wanted to drop a note and commend everyone keeping faith with the economy,It shall be well with us all. I don't have any money left to invest for now,would have loved to reinvest my interest from last bid 2 weeks ago but other commitments have come up.
I wish you all success as you reap massive gains this week...by next bid,the bulk of the elections would have come and gone and at least,it will be much clearer where Naija is headed economically et al... stay blessed and rich

fphumie:
Like to know if the rate was given to you by GTB cos my understanding of primary bid is that the customers have to quote their rate themselves

tunai:
Please did you use the branch you opened your account or other branch and what was the process like cos I have tried twice now and Gtbank is not acting on my tbill purchase request . pls help with this info.

Bamz:
Was it an email instruction you gave?

I will answer as much as I can. Yes,I use the GT bank where my account(s) is domicilied and I write a letter to the Branch manager stating my request to buy Treasury bills worth so and so amount AT THE BANK'S RATE for so and so tenor and authorising them to deduct the amount from so and so account for the purchase. I write the letter on the Monday or at worst,Tuesday of the primary auction bid week.When I send e-mail,I usually type the letter,SIGN it and then scan the signed letter and send it to the e-mail address of the investment officer in advantium banking or my account officer and it usually scales through except for 1 instance where there was a mix-up of sorts and the person explained the issue quite honestly. Moreover,secondary market TB purchase in my branch begins from 5 million Naira upwards and I never reach that stage yet...
I hope I've been able to answer your questions.

kaptinphilz:
March 4 result from cbn site
91 days tenor=10.8%
182 days tenor=14.85%
364 days tennor=15.899%
I m still waiting for first bank notification. I don't know if thier bid is successful.

angelo82:
I just received alert for my other bills which mature today.............I hope this bank will allow me to bid for 364days also like my other bank........They are more sincere...............

So sorry that this post is coming in so late. I got 15.08% for my 364-day tenor and 10.67% for my 91-day tenor from GT bank and both were GT bank's rate. I eventually stuck with GT bank even after initially threatening to withdraw my funds from them to another bank. I am happy with the interest on both,joor

Good morning house
Any information on Central bank rates for this week's bid across all tenors? PLEASE publish here. Thanks

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)

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

Happy weekend guys,
I eventually spoke to the GTBank Investment officer who told me that the bank was unsuccessful with the 364-day bid due wrong bidding. Also made me understand that minimum for secondary market purchase with GTbank is actually 5 million Naira...I never knew as I had always purchased fresh issues at the bank's bid rate from primary market sale.
I'm considering opening a First bank acct before March 5th,all my plans and schemes for this week was just messed up by GT. From the little I've read here,it seems First bank peeps get it right all the time. No time O...

Guys,
I am currently on the Central Bank webpage for government securities and I can see from what's published there that only 91 and 182 days NTB was issued for auction yesterday 18th February. I am worried as my account officer did not respond and my account was not debited for a rebid of 364 days that matured yesterday.
My question goes specifically to feelamong, please where did you get the 364 day rate as published on your post? On the CBN website,nothing was published for 364 day tenor and I don't know if that rate you published was specific to only the bank you use or a general stop-rate. My account officer is still not picking my calls!!!!

7footre:
Please I have an issue here.... made an investment in Tbills with ecobank they gave me a quotation of 9.7% after a week, they paid me about 3%. The 91 days has elapsed and I only got ma initial investment with the other 6% yet to be paid... it's been over 3 weeks the 91 tenor elapsed what am I to do? Thanks in anticipation

Mr 7 footer,from the little I understand from your post,you got a 9.7% quote for 91-day tenor TB from Ecobank and you were paid about 3% of your investment upfront as interest and after the 91 day tenor,your capital was returned back to you.
You did not factor that your 9.7% quote was 9.7% PER ANNUM and not 9.7% of your capital investment. The interest paid to you was 9.7% PER ANNUM of your investment spread over 91 days.
Let's do the math.Say you invested N100,000...9.7% of this per annum amounts to about N9700 and when divided by 12 months should get you about N808 per month. Your 91-days amounts to 3 months,the interest that you will receive upfront will be N2,424(being N808 multiplied by 3) and that is almost 3% of the N100,000 capital.
My brother (or sister,I dunno which),na your money you don collect so.Unless there is something else you want to collect from Ecobank....I dunno about that one O...as another nairalander would say,na my own 10 cowries maths be that O....

Wow...
The silence here is indeed deafening O !!
Don't know if anyone partook of the action this week or if there was any action at all,anyone who partook should please share especially the rates...

Ok House,just got alert from GT bank...from my calculation,I got 14.78% for 364-day tenor at the BANK's rate before commission and other deductions...not bad for me as it was within my estimation. Congrats to everyone who bidded at their own rates and got it,this is gradually unfolding as a very interesting year indeed.
Anyone with the successful bid rates range should please share.Thanks,heads up everyone...

Hi Lade,how much in today's Naira will it cost to get a 2004 benz c180 or c240 auto transmission alloy wheels to lagos,all costs inclusive? Waiting for ur response,danke

;DHappy New Year everyone in the house!! For the sake of those who are still a bit perplexed about how the calculations for Treasury bills are done and who like me some months ago couldn't locate the initial pages of this thread where it was clearly stated by feelaamong and others, this simple equation should be of much help


Discount Yield (%) = Face Value – Purchase price X 360______ X 100(%)
Face Value Days Till Maturity


I only hope this helps...You always have to remember that the Tbills are of 91,182 and 364 days tenor. Face value is the amount you intend to invest,purchase price is the amount actually deducted by CBN leaving behind your interest and the discount yield is the approved bid rate range for whatever tenor you put in for. It is not as complex as it sounds,sincerely
I use GTBank for my TB purchases,and the minimum I know is N500,000 unless they changed it yesterday... For someone who said N5 million as minimum for GTB,your investment officer apparently wants to discourage you from TB purchase...even Zenith bank I know says N1 million as minimum for TB purchase.
I wish you all a profitable year ahead...

Damolaskynov:
Gud a.m house,can anyone please confirm if the bidding for this week will still hold? I need a confirmation asap pls,thanks

Thanks house,I've got confirmation that NO bidding will take place this week.Happy holidays once again...

Gud a.m house,can anyone please confirm if the bidding for this week will still hold? I need a confirmation asap pls,thanks

You can put in for 91 days for the bid coming up later this week...small "change" for the holidays eh...would mature after all the elections are over and luckily before the handover/swearing-in ceremonies take place...and you don't have to keep all that money under your bed and sleep with one eye open...

Gud a.m house.I got 9.9% for 91 days TB from GT bank yesterday at the bank's rate. I dunno if there are will be auction on the 17th,I'm done for the year. I only hope and pray that these stupid politicians we have don't tilt Nigeria over next year...happy holidays ahead,everyone!!!

Gud a.m house,you can look up http://www.proshareng.com/news/25291 . It's meant as a sensible guide for today's likely bid rates and not the actual bid rate O please!! Heads up,everyone

Hi house,thanks a bundle for all the info being shared.I got 9.65% for 91 days from GT on 20th nov auction,I requested for the banks rate as advised by some gurus here and as I had also lost out on the last two auctions due over-bidding. Once again,thanks guys.I only pray our politicians don't tilt Nigeria over with their games,na to make money remain b dat O....lol

What year is your halla,can it go for N400,000? What is the mileage on the car? Pls holla back