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Investment › Re: Treasury Bills In Nigeria by dejiotus: 2:18pm On Mar 09, 2019*

uruogo:
Please house I put in N900000 on tb secondary market for 91 days at 10.5%. 876,180.82 was debited from my bank account through UBA. Does it mean my interest is only 23,000 naira? It's my first time in tb.

Yes. Your upfront interest is N23560. Less the usual TB related charges.

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 4:40pm On Feb 28, 2019

oludy:
Does anyone know FBN or GTB's secondary rate for today? I got this rates from Stanbic and not too juicy.

Stanbic Secondary rates today.
63days 9.05
357days 13.55
245days 13.0

GT bank secondary market for today

189 days- 12%, 273 days- 12.5%, 357 days- 13%

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 12:51pm On Feb 26, 2019

skyangel:
Thanks for this update. Thank God i didn't go to Stanbic today.

Gtb got sweet rates today

84 days 10.85%
175 days 13%
357 days 14.75%

Good afternoon to all the gurus in the house. I will be very grateful if anyone with today's TB secondary market rates for GT bank can advise the house. Many thanks.
It will be helpful as well if members with TB secondary market rates for other banks can similarly advise the house.

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 8:19pm On Feb 20, 2019

HenryWilliams:
Evening y'all
I just opened a stanbic ibtc account today in anticipation of getting 364 day TBs on Wednesday. Just after opening, I asked the pretty customer care lady if they re-invest the interest.. She said NO. I was a bit shocked because I read it somewhere here that FBN and Stanbic allows such. She however clarified that Secondary Markets interests are re-investible but not Primary Market.
Now my dilemma. Should I go on with the transaction on Wednesday knowing they won't reinvest?

But you can re invest the upfront interest the following day at the secondary market? The dilemma however is if the upfront interest is lower than the minimum amount allowed in the secondary market

Investment › Re: Treasury Bills In Nigeria by dejiotus: 1:24am On Feb 03, 2019

dammybrite:
Hey, everyone. Does any have an idea of the T-bills available in stanbic IBTC secondary market and their rates as at Friday?

Not for Friday but below were the available Stanbic TB secondary market tenors and rates on Thursday 31 January 2019.
91days > 11%. 301 days> 14.25%. 343 days 14.25%. If you subtract one day each from the tenors, you have roughly the available rates and tenors in the secondary market on Friday.

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 7:02pm On Jan 30, 2019

MummyIMadeIt:
Attention Needed!

Went to submit my application for 300k on Monday for 364 days in GTB but the customer care lady told me that it's only 91 & 182 days that are available..

Please is the info reliable, or am I been shortchanged as I had to subscribe for the 182 package.

It looks like that. Below is the TB primary market calendar for current quarter

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 6:56pm On Jan 30, 2019

dammy222:
Just 2/3 weeks ago, a friend invested 200k at Stanbic bank in secondary market.
But like you said ,it also depends on the account officers.

Many thanks for the update

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 10:54am On Jan 30, 2019

dammy222:
You don't need 500k for secondary market. Minimum should be 100k

Maybe your bank accepts 100K for secondary market. Unless this has changed recently, my account officer in Stanbic informed me. that 500K is the minimum that Stanbic bank accepts for the secondary market. Anyways some account officers can be economically with the truth at times because of personal agenda. Anyone with a more recent info on Stanbic minimum amount for the secondary market can update the house. I am aware also that the minimum amount varies from bank to bank

Investment › Re: Treasury Bills In Nigeria by dejiotus: 10:41am On Jan 30, 2019

elegungun:
Please, I went to stanbic bank yesterday to apply for TB, my account officer told me I have to come back middle of February.
I thought I can do treasury bill anytime.
Or is it TB being done bi monthly?

Maybe you went to Stanbic bank yesterday, after the closure time for submission of primary market Treasury bills application (I think 1 or 2pm on the Tuesday preceding the auction date). You were asked to come back next month as the next primary market TB auction date is 13 February. Yes, primary TB market is usually every 2 weeks. You can ask for the secondary market however (which is usually available everyday) if you have up to 500K naira; which I think is the minimum amount required to buy in the secondary market)

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 2:50pm On Jan 19, 2019

Iamzik:
Good morning house.
I was debited by Stanbic yesterday for primary market 364 days tenor but no notification of bid rate as at other times.

Can anyone confirm Stanbic bid result for 364days?

Dear Iamzik. I am also very much interested on Stanbic bid rate at the last primary market, especially 364 day tenor. Based on my calculation the discounted rate was 14.34%. I don't know if Stanbic is joining other banks particularly Zenith to shave off small amount of the rate from customers. I could have settled for 14.5% at the secondarily market but waited for 2 weeks as I was confident Stanbic will bid between 14.75 and 15% based on events at earlier OMO auctions. I was very disappointed when I got 14.34 % at the primary market. Still waiting for the notification document sha. Maybe Stanbic also made errors with the interest calculation.

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 8:04am On Jan 19, 2019

[quote author=Creamz post=74902503]When I called the bank, I was told that the interest for 364 days tenor is 13.1% so because I invested for 182 days tenor, it had to be half of the interest for the 364 days making it 6.55%[/quote

Interest rates are always quoted per annum (calendar year), 365 days usually and 366 days in a leap year. This has been discussed many times on the last couple of pages. People should always divide the interest due ( principal x rate), divide by 365 ( or 366 in a leap year) and multiply by the tenor ( number of days) to get the interest amount). So creamz, the interest rate was not 6.55% but 13.1%. Although you can say you got 6.55% of your capital as interest but this is different from the interest rate (as interest rates are quoted per annum (per year)

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 3:56pm On Jan 18, 2019*

unite4real:
Please lets not be quoting 365 days as a tenor. It is 364 days.

[For one year the interest is 280K. But you will need to divide 280K by 365 days and multiply by the number of days you get at the bank (ie tenor) to get your actual interest.
Good luck at the bank].

Thanks for the info. Above is my earlier post you responded to. But I didn't quote 365 days as tenor but only used 365 days to explain how interest is calculated. All the rates quoted both for primary and secondary markets are quoted per annum. To get your actual interest you will still need to divide by 365 days and multiply by the tenor. Even for 364 day tenor, you still need to divide the interest amount by 365 days and multiply by 364 days. I hope this explains to members how interest amount is calculated. There had been many instances here where some members will invest for less than 364 days (such as 91 day or 182 day tenor) and complained of not being paid in full. Always divide by 365 days and multiply by the number of days (tenor) so as to get the correct interest amount.

Investment › Re: Treasury Bills In Nigeria by dejiotus: 9:28am On Jan 18, 2019

Fyabdul:
Please am at the bank. I want to invest with my interest with amount of 2m. Their rate will show by 10a.m.
But I need someone to use 14% for me. What will I get.

For one year the interest is 280K. But you will need to divide 280K by 365 days and multiply by the number of days you get at the bank (ie tenor) to get your actual interest.
Good luck at the bank

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 2:01pm On Jan 17, 2019

kemshade:
GM, am still confuse about treasury bill, I went to stanbic bank last week to know about treasury bill, the lady told me to come back on the 15th, I went in the afternoon she said it has close that I should come on the 28th. my question is can't I invest in tb apart from the date cbn brings out the rate, someone pls explain to me in a simple form, thanks. am planning to invest 100k or 200k.

Unfortunately 200K is below the minimum amount allowed for secondary Treasury bills purchase.with Stanbic 200K should be okay for the primary market if I am not mistaken, but you need to drop your application latest by 1 pm on Tuesday preceding the auction date. If I were you, I will submit the application now towards the next Primary market date, to avoid story that application has closed again
Yes you can submit your application anytime.

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 8:50am On Jan 17, 2019

MssRose:
please can someone post the 2019 Q1 tbills calendar. or quote if it has been posted b4. Thanks

Investment › Re: Treasury Bills In Nigeria by dejiotus: 6:37pm On Jan 13, 2019

chigo4u:
I wish other banks can offer something like this. I’m not disposed to creating account for other union bank lol

.

Why? Is there anything someone should know about Union bank?

Investment › Re: Treasury Bills In Nigeria by dejiotus: 1:32pm On Jan 12, 2019

Below is a domiciliary account with Union bank that pays 3% interest rate.

Although there are few charges as noted below, I will be very grateful if anyone in the house can advise on the pros and cons of the account. I think the account will be particularly helpful for members who have dollars in dorm accounts and don't get any interest.

[Account Opening balance is $100
3% interest rate p.a on the domiciliary account.
Over the Counter transaction is allowed on the account
Validity is for 3 years
Annual Maintenance of $20
Issuance of Priority Pass for access to VIP lounges around the world
Cost per person per visit at VIP lounges is capped at $27
The Card has no limit.
Discount on travel tickets from some selected airlines]

3 Likes

Investment › Re: Treasury Bills In Nigeria by dejiotus: 4:11pm On Jan 04, 2019

Barrytone:
day 1 was correct, expect other days to follow suit.

Good. Many thanks for the update

Investment › Re: Treasury Bills In Nigeria by dejiotus: 1:56pm On Jan 04, 2019

Grupo:
Check page 656

Many thanks. I saw the post earlier (attached)but I am not sure if the person who posted it, is sure of the authenticity. I am also expecting the usual calendar that people normally upload on the trend, that includes the different amount that is due to mature and the amount to be rolled over for the usual tenors, 91, 182 and 364 day tenors

Investment › Re: Treasury Bills In Nigeria by dejiotus: 12:33pm On Jan 04, 2019

Good afternoon and Happy new year to all our members and gurus in the house. I will be very grateful if someone can advice on the next primary TB auction date. It will also be deeply appreciated, if anyone who has the current primary TB Calendar dates for the next couple of months, can upload on Nairaland. Many thanks and prosperous new year to all our members

Investment › Re: Treasury Bills In Nigeria by dejiotus: 1:42pm On Dec 14, 2018

dipoolowoo:
T-Bills Yield Slightly Rises by 0.01% as CBN Mops up N296b
https://businesspost.ng/2018/12/14/t-bills-yield-slightly-rises-by-0-01-as-cbn-mops-up-n296b/

close family member got 14% from Zenith bank today for 364 day tenor. I am still baffled by the tenor as it looks like a primary market deal. Maybe CBN sold TB that was longer than 364 day tenor to Zenith and the bank offloaded at the secondary market to their customers

It makes sense now where Zenith got 364 day tenor from on Thursday 13/12/2018. CBN apparently did OMO yesterday, that is very similar to the usual Wednesday primary market in terms of tenor days (91, 182 and 364)

Investment › Re: Treasury Bills In Nigeria by dejiotus: 9:38pm On Dec 13, 2018

PraiseDLord:
Let's compare rates and see which Bank has the highest T.bills rate.
Quote your bank tenor and corresponding rate below

A close family member got 14% from Zenith bank today for 364 day tenor. I am still baffled by the tenor as it looks like a primary market deal. Maybe CBN sold TB that was longer than 364 day tenor to Zenith and the bank offloaded at the secondary market to their customers

Investment › Re: Treasury Bills In Nigeria by dejiotus: 1:19pm On Dec 13, 2018

Indigbo:
Less than three weeks into the investment

It is possible to lose some of your capital o, depending on the interest rate the bank buy back the TB investment. Like I said before, make effort to contact your bank and ask for the likely interest rate to buy back the TB investment from you. Make sure you also ask if there is any penalty o. I learnt Union bank charges around 20% of the interest as a penalty for early liquidation. Good luck with your endeavour.

Investment › Re: Treasury Bills In Nigeria by dejiotus: 10:46pm On Dec 11, 2018

Indigbo:
at a loss of profit made since invested or loss part of capital? thanks.

It will depend on the interest rate the bank is willing to buy the Treasury bills off you. If the rate is reasonably close to the discount rate you received, then you will only lose part of the interest. But if the rate is much higher and the bank is charging a penalty to liquidate before maturity, it could affect your capital. Are you three weeks into the investment or you have just 3 weeks left before the TB investment matures?

Investment › Re: Treasury Bills In Nigeria by dejiotus: 11:18pm On Dec 10, 2018

Indigbo:
if I need money urgently for a short quick business how much will first bank pay me back from my capital if 9.6m if i liquidate less than 3weeks? any idea the total amount i will receive including capital?

Your best bet is to ask your bank about the buy back interest rate. It is the buy back interest rate that will determine how much that will be deducted from your capital of 9.6M. You have collected the interest upfront with the assumption that you are investing the whole funds until the end of the tenor. It is fair to pay back the unearned interest for the remaining days left before maturity.

Investment › Re: Treasury Bills In Nigeria by dejiotus: 5:06pm On Dec 09, 2018

Landmark445:
If I invest 15M into treasury bills. How much can it yield in 365 days.

Anyone ? Calculate for me

N2,094,247 excluding bank charges. Just over 2M naira using 14% as the interest rate. 15M x 14%/365 x364.
The interest amount will be more or less depending on if the successful bid rate is more or less than 14%

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 2:58pm On Nov 29, 2018

Alaska90:
ok thanks....waiting for info on First bank

You are welcome. Zenith bank has just debited a very close relative. From my calculation she got roughly 12.5% for 182 day tenor

Investment › Re: Treasury Bills In Nigeria by dejiotus: 1:20pm On Nov 29, 2018

Alaska90:
Anyone please...

My account officer informed me that Stanbic 364 day tenor was successful yesterday at 14.35%. Accounts will be debited later today or worse case scenario tomorrow morning.

Investment › Re: Treasury Bills In Nigeria by dejiotus: 9:11am On Nov 15, 2018

Ifelove1:
Thank you

You are welcome

Investment › Re: Treasury Bills In Nigeria by dejiotus: 8:31am On Nov 15, 2018

Ifelove1:
I know. My question is that instead of crediting my account, can I go to the bank and tell them to resubscribe in one of the secondary markets available (which I will choose)

Unfortunately the answer is No. Your account has to be credited first to complete the TB transaction cycle. Once the money is physically in your account, your account officer can subsequently get you a new TB investment either in the secondary or next primary market as per your instruction.

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Investment › Re: Treasury Bills In Nigeria by dejiotus: 11:35am On Oct 09, 2018

Barrytone:
Can we have today's rate for different banks, preferably zenith, first and stanbic for rates above 300 days

Secondary market rates for Stanbic on 9 October 2018.
To mature on 3 Oct 2019; 359 days @ 12.75%.

To mature on 10 Jan 2019; 11.73% for 93 days

Investment › Re: Treasury Bills In Nigeria by dejiotus: 8:02am On Oct 07, 2018*

alfajohn:
Please can anyone confirm if the TB auction of 4 October took place. Gave instruction to UBA but up till now no debit. Also CBN website not showing any sales on that date

Yes. But on 3 October. The following day 4 October was when accounts were debited. I was debited by Stanbic on 4 October (364 day tenor at 13.1%). Maybe UBA's bid for the tenor you requested was not successful

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