Feelamong's Posts
Nairaland Forum › Feelamong's Profile › Feelamong's Posts
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Royal155:I have also noticed that in some banks.... Obviously it may be due to the fact that they did not buy the Bills in your name and as such do not have to incur a separate Custody Charge when warehousing the Bills with the custodian.. This practise should be common with the banks that insist on everyone going with their own rates |
kelvinodum:I think its important to put the charges for Tbills into proper perspective... CBN approved 3 charges for Tbills Auction Transaction Charge - 0.125% of the Earned Interest Custody Fee - 0.1% of the Face value *no of days the Tbills is held in a year Some Banks also charge N100 service charge per transaction So If was Investing N1m for 91 days at 9.5% the charges will be Transaction Charge - 0.125/100 * 23,684.93 = 29.61 Custody fee - N1,000,000 *0.1/100 *30/365 *3 = 246.58 Bank Charge per Transaction - N100 Total Charges = 376.18 (Note that The Discount Rate and Tenor also affects the charges) |
needful:Speak to your bankers... at 17.5% (182 days) Tbills your upfront Interest is close to N436K ![]() |
fxuser:Correct! This is exactly why Gen Buratai Crocodile needs to keep smiling in the Niger Delta... To Clear their doubts!! ![]() |
locodemy: ![]() |
locodemy: ![]() |
abimbola01:For treasury Bills auction..you are served based on the bid discount rate you quoted! 18.40% was the stop rate so any one that bids below that would be served based on their rates.. as for those that bidded above they are on their own.. while those that bidded at exactly that rate would have to wait to see that they have not been prorated based on the no of winning bids at that rate.. |
manlikegb:I cannot post the name of the contact here.. just PM me |
debeey87:Good one for the Coal Miners...anyone listed on the NSE? I pity the gas industry ....the damage being done by the ND Militants would take time to recover.. |
fxuser:smart men accumulating... dull men lamenting... ![]() |
BreakingNews: @cenbank lifts ban on banks sanctioned for fx sharp practices @BizMorning @channelstv @Channels24_UK |
The Discount rates for the Auction is out!! 91 days: 14.3890. 182days: 17.500. 364days: 18.4240. |
[quote author=fxuser post=48949083][/quote]I doubt we will see any more bears linked to this data... The market has already factored and adjusted to this released poor GDP and Inflation figures since.. I expect to start seeing some bargain buys going forward |
easyflow:I should suppose so... ![]() |
Inflation and GDP figures for July released today at 17.1% and -2.06% This might affect the discount rates in this auction... http://www.ft.com/fastft/2016/08/31/nigeria-falls-into-recession-as-economy-shrinks-2/?siteedition=intl Dr Yemi Kale @sgyemikale: Headline Inflation in July 2016 rose year on year to 17.1% from 16.5% in June &month on month at a slower pace by 1.3% from 1.7% in June |
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ukay2:It's not yet out... My account officers say they will send out across as soon as it's out. It's expected out before the end of this week sha! |
easyflow:Been waiting for some info before sticking out my neck but it doesnt seem to want to come... I got an offer at the secondary market from an Investment firm that bought via OMO and was willing to sell 199days at 17.6% as for the auction....I will predict as follows 91 days --- 14.35% 182 days ----17% 364 days 17.5% the amount of foreign inflow for this Auction is enormous..... I will advise all to play safe and not to be too bullish.. http://www.thisdaylive.com/index.php/2016/08/30/external-reserves-rise-by-595m-as-offshore-investors-stake-327m-on-bonds/ Happy Investing ![]() |
Another OMO has just been done this Morning.... Its looking good for us this time... ![]() |
easyflow:Notin to worry too much about... a lot has happened in the Tbills space in the past few days... Liquidity is low and CBN nicely had an OMO auction on Friday.. ![]() This means that we should expect higher yields at the next auction......but then we expect the FAAC credit to hit the system and also about N129B OMO maturity to also hit the system by morrow... clearly we need another round of OMO today and or Tomorrow to take the yields to the levels of the last Auction... Fingers crossed...a lot more will be known by the close of business today.. ![]() |
ACCESS BANK https://gallery.mailchimp.com/fb5435d9e35c40c2dcc410299/files/ElixirResearch_H1_2016_Earnings_Note_Access_Bank_Plc.pdf we cut our 12-month target price from N9.14 in Q1 to N7.97, BUY recommendation maintained #MonkeyHunters ![]() |
DMerciful:i suggest you speak to your bankers or any investment house that deals on bonds |
Would ask my bankers for this programme by morrow... Meanwhile rates are not looking too good in the secondary markets.. Waiting for CBN OMO to clean up this excess liquidity as we also expect the FAAC money to hit the systems too next week. |
^^^^^^ Abeg who sabi summary for here? Did they say they have paid the NNPC money to CBN? ![]() |
https://trwstockbrokers./2016/08/25/breaking-cbn-lifts-forex-ban-on-uba-as-8-other-banks-remain-suspended/ Seems UBA is free now!! No wonder it closed on bid late yesterday in trading.. ![]() |
http://www.thisdaylive.com/index.php/2016/08/23/no-nonsense-cbn-bars-eight-banks-from-all-forex-transactions-for-concealing-2-125bn-nnpc-funds/ The banks, Thisday exclusively gathered this afternoon, were barred for concealing and failing to remit the Nigerian National Petroleum Corporation (NNPC) dollar funds to the federal government’s Treasury Single Account domiciled in the CBN as directed by the Presidency last year. T[b]he banks, whose suspension would remain in force until they remit all the funds to the TSA are United Bank for Africa (UBA) $530m; First Bank of Nigeria (FBN) $469m; Diamond Bank Plc ($287m); Sterling Bank Plc ($269m); Sky Bank Plc ($221m) Keystone Bank ($139); First City Monument Bank (FCMB) $125m; and Heritage Bank ($85m).[/b] |
binaflexia:I have just confirmed that some pockets of buy orders are coming from our FPI friends... i still dey siddon look mode sha.. |
zamirikpo:I get market updates from Stanbic, Afrinvest, GTbank and Access banks then i speak to my account officer in fidelity securities |
Chikebrain:wait till monday ...lets see how liquid the market is by monday evening |
easyflow:If you are scared of the rates coming down,...why not lock it now in a secondary market rate of 13 -15% |
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