₦airaland Forum

sdbaba: Oga Feelamong... pls I'm interested in investing in T-Bills. Can you pls contact me on sanya_1000@yahoo.com on how to go about this and which firms to deal with. pls treat as urgent. many thanks

check ur mail..

atiku07: @feelamong pls kindly get across de investment procedure and and expected return on a particular amonut invested from 100k and above very urgent pls to bobosegee@yahoo.co.uk thanks in anticipation

check ur mail!

Some basic terminologies frequently used in Treasury Bills:

OMO (Open Market Operations):
It is used either as an expansionary or as a contraction measure to control the amount of money in the financial system. When CBN buys from the OMO, funds are injected into the system in order to stimulate growth; while sale of OMO by CBN mops up excess funds from the system.

gegee: which one concern me

Thank you o jare!!! wetin concern Agbero with Overload

Person neva chop bele ful im dey talk about Air flight to UK!!

If dem like let them stop all flights from flying in and out of naija.....they should just not touch the cost of Amala and Ewedu soup plus shaki wey poor man dey chop!

This govt is a very stupid one! They have the mouth to announce all this and cannot even fix small gutters and drainages/canals around lagos.

Just drive around town and check all the major canals/drainages and you will be so disappointment....meanwhile the govt has funds to di canival/jamboree....

omo-yankee:
Sure beats US bonds, I will look into buying some. When is the next auction and how can I buy? (I reside in the US)

http://www.proshareng.com/news/16725

Nigeria Treasury Bills Issued Programme Second Quarter 2012. (3/27/2012)
Category: Bonds

DATE AMOUNT AMOUNT AMOUNT PROPOSED PROPOSED PROPOSED
Maturing (91) Maturing (182) Maturing(1Yr) Issue (91) Issue (182) Issue (1yr)


29/03/2012 21,838,514 19,081,137 21,838,514 59,081,137

12/04/2012 70,159,210 63,490,874 50,000,000 30,159,210 73,490,874 80,000,000

mkmyers45: @feelamong you've got mail (mkmyers45@gmail.com)

send mail to feelamong@gmail.com

Lizzyye: Pls i need the address of cashcraft asset mananagement nearest to me, i stay at beesam close to the airport. I knw most stockbroking firm are in v/i, but was told cashcraft is along airport road, hav tried to locate there all to no avail. Pls anyone who hav their contact address shld let me knw. Thanks

Do you need to go there physically...I stay on the mainland but have my brokers on the Island..I do not have to go there at all. They have a good online presence..I just send an email on what to buy and sell....once its done they pay in my cheque into my account. I also have their account no and i make lodgements from the branch close to me.

Where Can I Purchase T-bills?
You may purchase SGS at primary auctions (held through Primary Dealers bi-monthly) or in the secondary market (through daily sales between PDs in the money market).

Can I Sell My SGS Before Maturity?
You can sell over the counter with any Primary Dealer. Prices may change from day to day according to market conditions, and it is important to note that you may not be able to sell for the same price that you paid for them.

How Do I Calculate The Returns On Investment?
Treasury bills are issued at a discount. Therefore, the yield that you get upon the maturity of the bill is the difference between the purchase price and the maturity price. For example, if you pay N95 (discount rate being 5%) for a Treasury bill with a face value of N100 at an auction for a 1-year Treasury bill, your yield to maturity, or amount earned if you hold the bond for one year, is (S$100-S$95) / 95 x 100 = 5.26%.

dayokanu: Sorry about your dad. So if your husband brings his two that means 3 elderly ppl in the house.


Would you be able to moan in your bedroom knowing your mom might be overhearing her innocent daughter making those obscene sounds and asking for more

I know u enjoy hearing people's moan!! Bad pickin!!

usbcable: she na only GTB be the bank for.naija ni.

every topic with GTB ends up front page. maybe seun or mukina are major shareholders there sef.

ordinary firedrill makes front page.

Seun.. am beggining to think that GTB gives u sometin...of what use is this topic making the front page for? We have far more impt topics that should make the front page not Fire Drill in a bank....

How Is the Discount Rate for T-bills Determined During an Auction?
The cut-off (or highest accepted) yield of successful competitive bids submitted at the auction is equivalent to the discount rate.


As An Investor, Where Are My T-bill Investments Custodised?
Investors with T-bill holdings issued will custodise these with the Primary Dealer banks through which they had originally bid.

What Is The Minimum Investment Amount?
The minimum denomination to purchase is N1,000 (One thousand naira), and you can invest in multiples of N1,000.

Are Capital Gains And Interest From T-bills Taxable For Individual Investors?
Interest income accrued to individual investors is currently exempt from tax

Are There Any Fees For Investors?
The PD will charge investors an administrative fee of 0.0125% of the face value of the investment i.e. A N1m investment will attract a fee of N1, 250.

When Are T-bills Issued?

T-bills are issued according to a quarterly issuance calendar that is published on the CBN website (www.cenbank.org).

Prior notice about the auction is published on the website and also advertised in the major newspapers, typically a week ahead of the auctions. Primary auctions are held bi-monthly on Wednesday, while the issuance and settlement is affected on Thursday.

How Is The Auction Conducted?

Through a competitive bid where you have to specify the price (to be expressed in terms of percentage yield) that you are willing to pay for the T-bill. You may or may not be allotted the securities after the auction, depending on how good your price is relative to the prices submitted by all the other competitive bidders. A lower yield represents a more competitive bid as the bidder is indicating that he/she will accept a lower interest rate.

What Role Do Primary Dealer Banks Play In A T-bill Auction?

Only Primary Dealer banks participate directly in the auctions; the total amount of their bids will reflect not just their own bidding interest, but also those bids taken on behalf of investors. The Primary Dealers are appointed to play a role as specialist intermediaries in the money markets. Primary Dealers are obliged to provide liquidity in the market by quoting prices on all issues under all market conditions.

A FEW LECTURES ON TREASURY BILLS!!!!!

What Are Nigerian Treasury Bills (T-bills)?

T-bills are marketable debt instruments issued by the Federal Government. The Government is obliged to pay the holders of T-bills a fixed sum of money on the maturity date of the securities. When you invest in T-bills, you are lending your money to the Government in exchange for interest payments. The tenors are typically 91, 182 and 364 days (maximum).

Why Does The Government Issue T-bills?

• Provide a liquid investment alternative with little or no risk of default for individual and institutional investors;
• To raise the money needed to pay off maturing debt and finance their operating and development expenditure

Are Treasury bill Investments Considered Safe?

Nigeria's ratings indicate that it has a strong credit rating with a minimal probability of default on its local currency debt obligations. From the perspective of individual investors, this means that T bills are among the safest possible investments to hold, and the principal value of their investments is preserved if held to maturity.

Lizzyye: Pls i wld lyk to knw d payment date for gtb dividends, when is the dividend going to b payed into our accts, for those of us using e-mandate. Secondly i don't hav a cscs acct, how do i go abt having one and how much is needed to open a cscs acct. Thanks

Corporate Action
Final Dividend: 85kobo per share (Interim of 25k paid earlier)
Closure Date: 29th March 2012
AGM: 19th April 2012
Payment date: 5th April 2012


To open a CSCS account, just go to any stockbroker of ur choice and open the CSCS account.

UNDERSTANDING THE NIGERIAN TREASURY BILLS MARKET

NIGERIAN TREASURY BILLS
These are discountable instruments used by the Central Bank of Nigeria (CBN) to manage liquidity in the system, usually on short-term basis. In recent times, the market has witnessed a tremendous higher yield in the Nigerian Treasury Bills. The tenors are short with a maximum of 364-days with yields far higher in comparison to what the money market offers:

Features of the Nigerian Treasury Bills
 Issuer is the Federal Government through the Central Bank of Nigeria (CBN).
 Typically, Nigerian Treasury Bills are zero-risk and rediscount-able through licensed Money Market Dealers. The Rates are offered on a discount basis and are often referred to as risk-free rates.
 Primary Issue of 91 days and 182 days are offered bi-monthly, while 364 days bills are offered monthly.
 The investor earns upfront interest, hence, invests discounted value.
 They are used by CBN as an instrument for managing liquidity through the Open Market Operations (OMO).
 They are traded actively in the secondary market amongst Banks and Discount houses on an outright or repo basis.
 Liquidity Status: The Nigerian Treasury Bills qualify for liquidity ratio computation.
 It also has an active two-way quote secondary market which provides additional liquidity for all the primary auctions.
 Tenors are short and range from 91, 182 and 364 days.
 Institutions or individuals can borrow using Nigerian Treasury Bills as collateral.
 You can invest as low as N100,000.00 in the Nigerian Treasury Bills.

saska1122: This governor of a man must have been a kerosene retailer from birth.
He's not willing to leave the trade!

So selling kerosene is part of the governors duty??
Naija my beloved 'KUNTry'!

stay there!! it is also part of their achievements in Office.......Imagine the headlines after 4 yrs in Office.....'Able to sell kerosene at N50 in Abia state' Chai.. Tufia!!!

Bros...I will advise that you put in ur funds in treasury bills while looking for a good business to do. If you dont mind since you are in spain.. then we could partner on wine importation!

mkmyers45: @feelamong you've got mail (mkmyers45@gmail.com)

I have replied you!

HEI....YOU CAN REACH ME ON FEELAMONG@GMAIL.COM. i STAY IN LAGOS.

http://www.proshareng.com/news/16687

Nigeria sold 101.22 billion naira ($642.67 million) worth of treasury bills this week at a regular debt auction, with yields on the 91-day inching up while the 182-day bill had lower yields than at the previous auction, the central bank said on Thursday.


The regulator sold 37.49 billion naira of the 91-day treasury bill at a 14.30 percent marginal rate, up from 14.18 percent at the previous auction.


The central bank auctioned 63.73 billion naira in the 182-day bill at 15 percent, compared with 15.48 percent previously, the bank said in a statement.


Total demand stood at 326.57 billion naira versus 328.78 billion naira at the last auction.


Yields on Nigeria's most liquid 3-year government bond fell on the secondary market on Wednesday, after a surprise decline in inflation and a move by the central bank to hold rates steady for a third time in a row.


Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly as part of monetary control measures to help lenders manage their liquidity.

am not a banker... neither am I a lawyer but am surprised a bank would hold on to your husband money and he is lieing low!

I think no bank has any power to do that! I will suggest that he ask his lawyers to send them a 'love letter' and they should make sure that they copy CBN and Ministry of Finance in the letter and also threaten to publish this letter in a national daily....

try mushin or any of the densely populated areas in lagos!

what are his credentials? does he understand how the capital market operate?

OK... BRING IT ON!

http://allafrica.com/stories/201203191183.html
The proposed crude oil exploration and refining by Anambra state might have met a brick wall following claims by Enugu state that it is the owner of the two oil blocs to be explored.

Local government chairman of Uzo Uwani, Hon. Cornel Onwubuya, who spoke to newsmen, claimed that the two oil blocs acquired by Orient Petroleum are located in his domain.

Hon. Cornel Onwubuya, insisted that the misleading pronouncement from the chairman of board of directors of Orient Petroleum, Chief Emeka Anyaoku, was already generating tension among the oil hosting communities of Igga, Asaba, Ojjor and Ogrugu in Enugu state.

"Following the widely publicized Orient Petroleum's facilities inspection trip to Enugu Otu by the company's chairman, board of directors, Chief Emeka Anyaoku, alongside with the Anambra state governor, Mr. Peter Obi and other notable personalities and statements coming therefrom Anambra state, to the exclusion of Enugu state, was set to join the league of other oil producing states in Nigeria, I on behalf of Uzo-Uwani LGA of Enugu state of Nigeria want to register my peoples' displeasure against the above misleading pronouncements from Chief Emeka Anyaoku which is already generating tension amongst the oil hosting communities of Igga, Asaba, Ojjor and Ogrugu in Enugu state."he stated.

Onwubuya argued that since these communities are in Enugu state, the records have to be put straight that with the commencement of production of crude oil any time from now, Anambra and Enugu states would automatically become oil producing states "and expectedly have their fair share of all the liabilities and privileges accruable to other oil producing states in the country."

Though he agreed that Orient Petroleum was promoted by majority of Anambra state indigenes and have the controlling shares of the company, the local council chairman insisted that the least his local council will expect from the management of the company is to ensure that "my local government area is put in the picture of what is going on in the over 640 square kilometers covering the oil production licenses (OPL) 915 and 916 oil blocs won by Orient Petroleum."

Onwubuya vowed that his local government would not allow itself to be excluded from being fully involved in "our God given asset and benefits coming therefrom."

Just get a cutlass and cut off the balls...then you will be sure that no hairs would see any balls to grow on again!

donbafs: The best way out. The house leadership did the right thing by asking him to step down due to credibility issue.

Ok naa... now the whole House go face the madam Otteh!

olas2u: I hope you got the messages ,you can do your research on them,i have more idea,But there are some business that you dont even need to see the clients ,you only work with your phone and the goods are in the warehouse,because not many people are into it.They just call pay into the account and pick goods in the warehouse.

hei Olas2u....na wa for u o!! abeg send the info to my email feelamong @gmail.com. Thanks for helping a bro!

So na like this e go dey dey??

You arrange ur selves, start bombing then you are called for negotiation and settlement in the sharing of the cake!

Am off to my village ASAP! any pipeline that passes thru go hear weeeeeeeen!

http://www.proshareng.com/news/16648

The treasury bills market was very active during the week, particularly at longer end, as there was high demand for the 07-03-2013 (364day) and 21-06-2012 (91day) bills. In addition, we note that the CBN intends to issue c. N917.77 billion during the second quarter against N960.13 billion out of which shown on the first quarter calendar. The current amount of Tbills issued so far in 2012 is c. N621.89 billion. This shows a slight decrease of 4.41% in the proposed volume to be issued in the second quarter when compared with that of the first quarter.

In the week ahead, we expect the monetary authorities to hold the benchmark rate stable at the least whilst we anticipate a moderate increase in year-on-year inflation. Also, there will be a treasury bill auction of c. N101.23 billion 91day and 182day tenors.