₦airaland Forum

Demaejy: @Opeyehmmy: How much is IPEGTOP Z26 and where is the source?

l also want to know.

My only worry about this phone is the colour display of just 260k. This is too small.

Is the A2 dual sim ?

Lawmann: please,can someone tell me the next bidding date.thanks

December 4th, i.e 2 days from today. However some banks prefer that. you submit your bid on Tuesday.

lecturerdabo: I threw in 25k there last yr june, I just checked it on friday and the bal is 29k. Now U decide!!

You got 16% profit in a year and you are not satisfied. What you probably need is a big win at the lottery and not an investment.

Dollops: Please who knows the percentage charged by banks for bidding on your behalf?

0.125% of your principal.

feelamong: Ok in layman's terms... BAs is when you lend to a company with a bank acting as a guarantor that your money would be paid back to you at the expiration of the tenor.

For banks its like taking deposit from you at an agreed interest rate just like in any Fixed deposit;
However it is supposed to be money given to another party with a ban
k acting as guarantor. So most times its only Blue chips that actually do BAs using banks as guarantors or in another way, Banks raise the money for Blue chips from investors like you and I at a rate...

hope i made some sence sha! Been a long time i left banking work!

Do you pay 10% witholding tax on BA?

slord: Fixed deposits are usually at most 9percent per annum also,bt tbills are presently standing at abt 11percent,so i tink its betterFixed deposits are usually at most 9percent per annum also,bt tbills are presently standing at abt 11percent,so i tink its better

In addition with fixed deposit you will pay 10% witholding tax and your interest is paid at the end of the tenure.

sкчscrαρεr™:
I guess this match is a quarter final, am i right?

This is round of 16.

RichYoungRuler: Hi Bro, just a soft reminder; don't forget there are pros and cons like the man mentioned above...Terminating a fixed deposit investment is easier than terminating a TB and U can only have treasury bills running for a minimum of about 90 days except the banks sell to you from their purse.

Now, concerning commercial papers; I remember GTB told me years back that the minimum investment required was N10M and it is basically like fixed deposit but the main difference is that you are not charged withholding tax when your investment matures. I hope this helps someone.

Anyone with practical experience with commercial papers in Nigeria should please share.
It sounds interesting also.
Thanks.

ganilat4: oga @feelamong, pls dont forget the TAble u promised as soon as u get it, God Bless U SIR.

My oga Please do not forget us ooh. We are still waiting for the Tbills schedule for the last quarter.

Thanks.

pappilo: I have received a lot of good advice and help on this thread which is why I continue to contribute so as to help and advise others. This is probably in the top 5 most useful threads on Nairaland.

I agree with you.

[@samguru

Why did you accept 5.75% ? It is too small. FBN gave me 9.25% per year but after two weeks I closed the FD and bought Tbills last week with the money. The bank staff were not happy after they tried all they could to make me change my mind. Wise up brother.

Elai147: As inze rightly suggested, they must have given you 91 days bills as there was no auction for 364 days. If this is the case then you must divide the interest (annual) by 4 to get quarterly (91 days) interest. So 40k+ divided by 4 equals 10k+. Try and demand for your treasury bill certificate so that you can see the actual tenure and interest rate they gave you.

First bank has never given me any certificate. Please how do I get it from them.Any one with practical experience with them will be highly appreciated. Thanks in advance.

81

Elai147: @Tassembly thanks for the info.

The thing is, First bank sells to you from their holdings. This is the reason why they can perform roll over of your investment for you even on a non-auction day and also the reason why they don't allow you to specify bid rate. Meanwhile, if you go with their bid rate, you are most likely going to be successful because they will give you at a reduced rate (lower than the stop rate) and of course, lower than the bid price at which they bought from the auction market... This is my opinion

What makes your bid to be unsuccessful is when you bid too high (higher than CBN stop rate).

I totally agree with you.

Elai147: My bank said the next auction will be tomorrow 07 Aug, but the T-bill issue program timetable for 2013 posted earlier on this thread by oga feelamong says it's 08 August. Don't know if there has been any recent changes. Please can someone confirm the next auction date...

My Bank (FBN) usually demand that I place my bid/ money a day (Tuesdays) before the auction. So I think the auction is on Wednesday and then by Thursday those who were successful will be informed.

ediko5: Look at how foolish you are after condemning the person already.

It takres so much honour for a person to admit that he may have been wrong.

Desanta: Has anyone received these ebooks? I don't think so. Anyway I need to see at least 10 post of people who have actually gotten and were able to open and read these imaginary ebooks for me to be convinced to some extent that we are not dining with a scammer.

The books are real. I have read them. Sorry for being suspicious of you. I am always on alert mode.

Seun: If your bank deducts the full face value of the tbill upfront, as it seems to be the case with the people complaining, then the upfront interest is very important. If the interest is delayed for one month, as they reported, that represents one month of lost interest that they would have gained if they reinvested the amount elsewhere. The fact that your bank conducts transactions with integrity does not in any way eliminate the possibility that some other banks cheat their customers by deducting the full face value of tbills purchased and delaying the payment of the interest/discount for a month or two while they earn interest on it.

Firstbank is used to delaying interest. At one time it took about 7 weeks for them to credit my account after i had made over 4 visits to their office.

Elai147: @ayztech, Seun is right. First bank usually debit the face value from my account and some times I have to worry them before I get my interest but this is not always the case. Meanwhile, Keystone bank only deduct the value of the bill and leave the discount rate in my account for my immediate use, which is very good. So it actually varies with banks.

Does keystone bank allow 182 days bid and do they bid for you?

Has anyone received these ebooks? I don't think so. Anyway I need to see at least 10 post of people who have actually gotten and were able to open and read these imaginary ebooks for me to be convinced to some extent that we are not dining with a scammer.

By June next year, those of us in Benin City will be paying 1,500 Naira as fixed charge. So what are we going to do? Just accept it? We should begin to ask our president to resign.

pleep: Were do you buy the bills from, are they easy to get?

Go to your bank and tell them you want to buy T-bills. It is that easy.

azpekuliar: Why wasn't this young man's question answered?

I agree with him that it is better to do 91 days, as long as the rate does not drop and you have the time to bid every 3 months.

pleep: How safe do you think it really is, especially the 10 year? This is a country that is predicted to split in 2015, the interest rate should be somewhere in the 30's.

Anyway, i have a question for yall: Can you feel the cost of living rising every year, or does that 14% actually feel like 14% profit when you get your money back on the maturity date?

If it is not safe, what is the alternative?
As for your question, I don"t understand it.

feelamong: Yea its suppose to be every two weeks but once in a while the Oga at Top in CBN distorts this..

But on a serious note if you care to look at the Tbill Time table that was realeased by CBN at the start of the year.. it showed that there is an unction on this date... just go the cbn web site..

Sir, the time table on the website is only for the first quarter. Where did you get the time table for the year? I sure would like to have a copy. Thanks.

Why don't you give us the info here? Or is it for sale? If so how much is it?

pleep: With Nigeria's sky high inflation, the real interest rate is probably only like 4%

Well it beats the inflation rate and your money is safe.

Thia will be a nice therapy for pot belly.

HotNaijaBabe: And what has she achieved!
She looks like someone severed her upper body from her lower body and joined it back together with super glue.

Babe ypu harsh oooh, but you make sense. I agree with you.

[quote author=kool angel][/quote]You are very correct. 91 days is 3 months or 1/4 of a year and the interest rates are quoted per year.

To WHAT AMOUNT ARE YOUR CUSTOMERS INSURED. ARE YOU INSURED BY THE NDIC? WHAT STEPS CAN I TAKE IF YOU DO NOT RETURN MY CAPITAL?