₦airaland Forum

femiaction:
Hello Fam,

I need your advice on something. I purchased a Treasury Bill through First Bank on September 3, 2025, and requested a certificate of investment as proof. Instead, what I received was a document titled “Nigerian Treasury Bills Proof of Investment.”

The issue is that this document came without any signature or authentication from First Bank officials, which seems unusual. Has anyone here experienced this before? Shouldn’t a proper Treasury Bill certificate or contract note be signed and authorized by the bank? This letter was stated below


NIGERIAN TREASURY BILLS PROOF OF INVESTMENT
We thank you for banking with First Bank Nigeria Ltd and hereby confirm your Nigerian Treasury Bills investment with us as
detailed below.
Reference Code: xxxxxxxxx
Account Number: xxxxxxx
Amount Invested: xxxxxxxx
Tenor: 364 Days
Rate: 16.75%
Effective Date: 2025-09-04
Maturity Date: 2026-09-03
Principal At Maturity: xxxxxxxxx
Interest: xxxxxxxxxxxx

Please note that your interest on this investment is subject to the following charges: .

Commission: 0.125% per transaction (per investment)

Custody Fee: 0.10% per transaction (per investment)

Transaction Fee: NGN100.00 per transaction (per investment)

VAT: 7.5% VAT on Commission, Custody Fee and Transaction Fees

NOTE: Investment done before implementation of the new (7.5%) VAT remains 5%.

In the event that you have to liquidate this investment prior to the maturity date indicated above, this will be treated based on the
prevalent rediscount rate, which may be higher or lower than the above rate.

Please confirm your acceptance of these terms and acknowledge receipt by signing and returning a copy of this confirmation
letter to us.

Thank you for your patronage.

Yours faithfully,

For: First Bank of Nigeria Ltd


The officer incharge said this is the certificate First Bank issue for TB

crownprince2017:
As long as people are not ready to respect others' choice of stock, there will always be gbasgbos.

When person was recommending eti as the best new thing, the price keeps doing gbelogbebo till now, another hawked aradel, transpower but what happen? The same story. the same people will do plenty analysis why they felt a stock choice of another person is bad, some even criticized people saying buy with patients funds. None of the critics have ever come out to say sorry for misleading people even when it's obvious they were wrong.

I have seen ogg come here to drop recommendation and come to pass but bad belle will still come here and say there was no time frame that anybody could have done that. Since they chased him away, we are yet to see their recommendations with time frame.

Despite ogg showing plenty workings why he thinks there is a value in a particular stock, the bad belle no gree allow am stay here in peace.

Ogg, na man you be..

Double standard everywhere.

Harddiskng:
Omo, this is very harsh

Though i have to agree with the bolded.

I thought i was the only one that noticed how their current crop of young employees struggle with effective and concise communication.

I no longer call, cause even from “Hello” i start to get angry. I mostly communicate with them via email and it takes 3, 4, 5,6 iterations (mail exchanges) to usually land at our final bus-stop about the solution to an issue and all these would take the span of a month or more most times.

Ratherless, when it comes to operational efficiency. Stanbic is still one of the best - in the land of the blind, one eyed man is king. At least they have leaders, driving performance. I no go talk when my eye don see for another asset manager hand . Those ones no dey see mail talk less of acknowledging it lol

Toluway:
I agree with you absolutely.
This scenario has always constituted my personal worries.
I left the federal public service at the highest level of it's hierarchy, so I know what I'm talking about.
I have observed that generally, only a quarter of the members of staff do the work of a government department. This are the productive ones.
Most of the others are the ones going around gossipping, licking the boots of directors and very senior officers. And they are even better preferred by directors who love flattery and boot licking.
Before promotion exams, you see them going all over the place. They are the first to pass promotion exams.
It's so painful that the same crop of unproductive elements rise to become directors.
You will see ladies get to the office, open their laptops or handsets, and launch to the social media... Facebook, Instagram etc.
And when you give them something to do, after a few minutes, they would start taking permissions to go home and take care of their babies, or going to take their children from school.
The system is so annoying and you can do very little about it. And they always steal whatever comes their ways. Those in higher positions are always likely cheat to cart away what belongs to the junior ones.
And when it's come to going out for field assignments, which would involve money, you would see everybody prowling around the place.
And this same group, who would always escape writing field reports would always find themselves in the list.
To be frank, we don't need more than a quarter of the so called civil servants, who should be closely supervised.

I always stood up against the system. They tried to destroy me. I became a director by grace of God and they made me to Head servicom because they knew I would not compromise my principle and I would not be bringing money to the CEO.

For the public service to be productive, it should adopt the culture of the private sector.
Promotion should be based on productivity and the system of seniority should be abrogated.
So many times, I worked under morons and the only thing they know how to do is defend themselves whenever there are issues. Go to their tribalised directors and speaking hoaouosua.
Honestly, the system is annoying. Even though I was a part of it. They said I had no friends. How could they be my friends?
The only thing they scout for is money. Not interested in service at all!

pluto09:
There are quite a large number of people in the private sector who earn less than 60k in a month and have been paying tax before, those people will altogether be exempted.
As for those who earn more than that, the way the tax is structured is that 800k will be Tax exempt, it is what they earn above the 800k that will be taxed which makes the effective tax to be low compared to what we had before.

GeneralDae:
No, you are getting it wrong. If you earn minimum wage (70k monthly), you earn 840k yearly. You would only pay tax on 40k. Your first 800k is tax exempt and the remaining 40k is taxed 15%.

GeneralDae:
I thought the tax act actually reduced taxes for most people and you are not taxed on your first 800,000 naira (for those earning up to 3 million naira annual salary) and 25 million for SME’s? So I don’t understand the bolded.

Here is a summary of the bill:

“for many individuals and small businesses, the reforms notably reduce tax burdens.
• Low-income earners (≤ ₦800,000 annually) now pay zero personal income tax   .
• Small businesses within the thresholds are fully exempt from key taxes   .
• Essential goods are VAT-zero-rated, which reduces the cost of everyday items; plus, businesses can reclaim input VAT, improving cash flow   .
• Productive sectors and multinationals face stricter taxation, but reforms aim to distribute tax burdens more equitably    .

As a summary, a Reddit user put it succinctly:

“The entire point of the bill isn’t to increase taxes but to widen the tax net … individuals earning under 800,000k … are exempt … it also eliminates VAT on items Nigerians spend most … food and medicine.”

ghm:
WoW!

I haven't seen mine in my stockbroking account. Could you please advise how I can get access to my CSCS account? Can the CSCS account allow all stocks with different brokers be consolidated together or do I have to have a CSCS account for each of the brokers I am in?

Nakedman:
Hello House, Is there any company offering CP at the moment?

Mpeace:
I watched briefly and what I noticed is that somehow it appears to be almost the same shareholders or group of shareholders that attend and speak at most General meetings.

Ivan18888888888:
What banks pays upfront , I mean for secondary market

Youngzedd:
I use reinvestment.

The Net Asset Value should be Inflow + Total Gain.

From my dashboard, the net asset value remains the same as it was last month before 30th.

The interest gained is showing on the transaction history, but haven't been carried over the the net asset value (principal.

It's showing on earned amount, but the last

Jane111:
Thank you for the response.

I asked for the certificate but they only gave me a confirmation note on their letterhead. So I got confused, I was wondering if that was a the norm or I was supposed to get an actual certificate.

Jane111:
Hello, hope you all are doing good?

Please after investing in Treasury Bills via the primary market, do you get a certificate or just a bank confirmation of the purchase of the treasury bills?

Thank you in advance.

Entrepreneurrr:
Yes sir for the CP.

Entrepreneurrr:
Which other stockbroker is not charging custodial fee please?

jp130:
How does one move it to trading account like Morgan capital?

jp130:
Africa Prudential bonus has been allotted, who can confirm?

PharoahIII:
Does it have to be a regular account or can you do it through stanbic BlueNest

luciouscookie:
Good morning, please I invested in treasury bill last week and I currently have have some money in the same account. Can I also invest it or is TB a one off thing that I have to wait till maturity to invest again.

Please help a newbie.

PharoahIII:
To buy tbills from stanbic do u need to have an acc with them? Also if one isn't in d country how do u go about buying tbills from stanbic

USA2019:
I get you, but bonds and Sukuk are a different case—they usually pay out quarterly. Treasury Bills are always (I have not personally had or heard of a default) paid on time at maturity because it is a one-time payment, and I think they typically have sufficient time to prepare for it.

20% discount rate of CP with 10% WHT is equal to 18% effective discount, plus you don't get paid until maturity. With Treasury Bills, I get my interest upfront and can reinvest it in some other high-yielding financial instruments to beat CP, bond, or Sukuk rates.

I guess it's to each his own--you're the CEO of your portfolio!

USA2019:
I get your point, but I think using the bank's secondary discount rate and equivalent yield for TBills, I'm getting equal or even better returns compared to commercial papers (CPs), which carry higher default risk. Treasury Bills, backed by the Federal Government or or our national oil reserves, are far more secure—worst case, the government can print more naira to pay. I've never experienced delays with TBills, but I know several companies that have delayed or defaulted on CP payments at maturity.

I'm not trying to discourage anyone from investing in CPs—they can be a valuable part of a diversified portfolio with varying risk and return profiles.

USA2019:
I’ve never been charged interest on my Treasury Bills, including the most recent one I purchased in March 2025. When exactly did this new tax regime take effect?

Jeoma2024:
I haven't used fbquest before but I don't know why I feel comfortable with them, I have been trying to open account and it is taking longer than expected, I am tired of waiting, I am thinking of united capital but when I typed in there name on Google to sign up, I will be seeing INVESTNOW, it is quite confusing

Can anyone here help me out with Fbquest
And how good is this united capital


INVEST NOW IS the App for United Capital Asset Management. So it's correct.

Chuksworld:
Is like people don't do cp here. I saw mecureseries cp on Stanbic. Is it worth investing in?

chimex38:
People like dangote and co make OT less risky cuz they have a reputation to protect.
The A+ rating also helps.

Largely, they are mostly unsecured debt. and if they default, you can do nothing.

bastardson:
23% is huge in 6 months.

Is it like Fixed Deposit?

Would the capital and interest be paid after the set date ?


I need to read on how commercial papers work