₦airaland Forum

vitality22:
This is just one reason why some people needs not to be here. You need to be sociable for once. It must not be serious serious always. Cool down and unwind a little. It makes you think better on the businesses to invest in , gives you the opportunity of meeting business moguls, big time investors and big shots. From there, you can expand your horizons and not TBills discussions every seconds. Haba

Nairaland is divided into threads and sections for a reason. So also are the 16 rules of posting a thread or commenting on one. Most times when you post political thread in romance section you are either directed to post it appropriately or the Mod will move it to the appropriate section. Except they don not notice it or the thread will be of relevance to only you the poster.

There exist a business and investment section too on Nairaland for a reason so also the entertainment section. This particular thread is found in investment section; new people come across this thread by either by deliberate effort after enough search for an investment vehicle or are directed by others that have benefitted. Let me @ this junction let you know that I am not the creator of the thread neither am I a very serious contributor but I am very serious benefactor of it. If I had wanted to do any business when I was searching before I stumbled on this thread I would have gone to business section I am very sure I will stumble on a business thread there. If I want to know the best club to go and I post it in the entertainment section 10mins is enough for me to get the list.

Now I am not saying they shouldn't be joke or entertainment around here but hey..., if it is of no effect on the purpose of the thread then it is not useful. There is another thread in this investment section (NSEMPA) I visit as a silent member. Once your joke or other investment is not related stock or doesnt have any effect on stock market and you want to dwell on it you would be reminded which is what I did. I remember a veecovee posting on religious matter and how he was rebuked there.

Pls what is the correlation between Quilox and TB?

@Alikote, Zinaunreal, Agbaletu & Gavrelino123.

Please kindly open another thread for your flexing. If the money is made where to spend it is no issue. This thread is for TB. Yes you can give us heads up on any viable investment but derailing this in the way you guy are going is not nice.

I always hear people talk about right without considering its limitations. If your fundamental human right is to take people's pictures why would you not consider that there should be some kind of consent or agreement before taking it? Does it mean that those being photographed are less humans or are lesser humans and as such do not have right to refuse to be photographed?

Sammybabelious:
Good pm gurus in the house. Please am sorry for disturbing you. This my first time of doing Tbills, I wanted to go for Fixed deposit,until I came across Tbills here.
My issue now is that I invested 1.1M,on the 6th of February, and till now have not be given the upfront interest ,just this morning I decided to check my balance if it has dropped, to my surprise I saw N875.6 as interest... ....is it the interest or should I be expecting more...it 10days now.
2..how long does it stays to be credited?
3...because I remember I ticked upfront
NB:Please can I go to another branch to verify it?(First Bank) or must it be d same branch I did I transaction. Cuz am not in the same state now I traveled.
Please help me it urgent. Attached is d screenshot.

With what I am seeing in your statement it's like you ticked the invest with principal/capital with interest option. Meaning your your upfront was reinvested with your capital. NTB is done in excess of N1000 so any amount that is not up to N1000 would not be invested that is why they dropped that N915 interest in your account if not you would not have seen any interest. For more understanding go and collect your certificate/proof of investment from your bank tomorrow. If you are not clear with it then we'll discuss further.
I hope this helps....

Futureinvestors:
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classy90:
A brother of mine who had up-to 5m in his account is thinking on how best to invest that money.....I personally told him to invest like 2 to 3m on money market and invest the remaining 2m on his business but he's to invest whole money on a buying and selling business.....please somebody should talk to me on how best to advice him or did I advice him wrongly.....

I feel he is looking at it from the angle of the higher the risk, the higher the reward not considering the higher loss too if table should turn. Your advice to him is very sound except he has other funds somewhere as backup/reserve or he is well grounded in the aspect of buying and selling he intends to invest that is 90% sure of returns after investing, if not, it not wise to put all eggs in one basket for just a kick and fall of that basket alone may render the whole eggs in it uneatable.

Nice designs you have here...

nonnycn12:
Gmorn peeps. Pls could someone help me out here

Went to FBN on weds for TB purchase and after going thru the available rates settled for 240 @13.5%. Unlike other times, there was no deduction that day till d ff day.
On Fri, i went to pick my proof of transaction, I saw 239@13.2%.. the 239 days i understand based on the explanation they gave as they could not process the transaction bc of netwk, but the 13.2% shortfall, i cant understand since its same tenor and rate. I asked why they did not call or text since ther was a change, they were just sorry. I kind of perceive foul play.
Gurus in d house, could u help me plsss.

The person that attended to you probably forgot to treat it the day you made the request and the rate changed the next day.. Rates are not set by local branches.. Its either you take his or her apology and move on or you take it up.. But I guess it just human error.

@Tony Thanks had to look it up thoroughly in investopedia.com after reading your post.

Oga Tony you posted a very nice video too. Though Ugo in the first video may not have broken it down completely. In the video you posted the fair CBN lady said there is 'Buy Monthly Auction' and 'Dutch Auction' she only explained Dutch Auction; as the auction where every body gets their bidding rate irrespective of the auctions stop rate. I believe if she had explained the other one you would have seen the angle Ugo came from.

@Oga Aghalee Bank sets their separate rules and the way they do things. For example ; CBN did not set 1M minimum for Fidelity and UBA in TB investment they set it for themselves in a way. Presently CBN approved rate for transfer of funds through ATM is N50 +N2.5 VAT but I used a UBA card for transfers on Jaizbank and I was charged N100 per transfer. These banks can do anything. Those days when retail investors can bid below 50M even if you want to set your own bid rate some banks will still disagree.. Why? Because they won't benefit anything from you that way. So most times even if some banks gets a successful bid at higher they will still give you lower.

dotcomnamename:
This is nice



https://www.youtube.com/watch?v=Mw2VVuKdTY8

Nice one...!! Very simple explanation on how it works..

Y'all are shouting contact me... What wrong I'm marketing your business here if you really have what to offer. Op beware of people cornering to their personal email and WhatsApp addresses in order to obtain you ooo

StephenOlgade:
But unfortunately, the Sms alert is now mandatory. I thought they send you a message pertaining to this.
The only thing you can do is to file a complaint and let them go over your transactions. I know that they deducts N4 per SMS alert but, this one is too much for you o

It is not Mandatory... GTB just used the last CBN circular on it to cajole it's customers. I am using other banks too that I deactivated sms alert on their account because of excessive charges. (Diamond and FBN) none of them reactivated it back for me after that circular only GTB did.

ositadima1:
I wonder why people insist interest is upfront.

Pple insist interest is upfront because unlike fixed deposit and other forms of investment where interest are paid at interval or at expiration, your TB interest is paid to you immediately your bid is accepted except if you request for it to be invested with the principal. You will only get your complete principal at the expiration of the agreed tenure of investment.

Partnerbiz:

If I buy TB in January at 12% for 365 days, and terminate in August when rates are 18%, will I lose part of my capital? Is it possible please?


feelamong
investnow2017

acidosis
freeman67 et al.



dotcomenamename
tony56 ( my man) lol

Hmmm this your illustration... If you buy 12% for 364 and they buy back @ 18% you don loose like 6% untop the 12% balance for the remaining period in the tenure bought na.

dadebayo1:
Oh ok sir.. I felt it is 17%... I also consider it as an alternative to keeping my funds in a savings account.. Just a way to save and get more from the savings...

You are not totally wrong sometime last year it was even more but now it is dropping. You can easily seethe rate easily when you check through your Internet access not mobile app... Yea it offers better return than just keeping it in savings

@dadebayo1 The interest rate for SIAML MMF is no longer upto 17% it's now between 15 & 16%..

@coolangel54 If I were in you I will not concentrate on what I will gain for now...I will rather use it as a form of savings instead of putting the money in savings account .. If you are consistent in topping whatever amount you can afford (not below 5k) with time you will see your savings grow before you start considering it as an investment option.

gogedda:
Good afternoon house, sequel to our conversation yesterday, we came to Stanbic bank today and collected the certificate we realize that it was charged at 13% only for the lady to tell us something about "witholding tax" OR something. I immediately told her there is nothing like "witholding tax" on treasury bills purchase.

Pls note that the only debit alerts on the bank statement was the treasury bill purchased @13% + transaction fee + safe keeping fee. There was no debit alert for witholding tax.

172306 - 152271.85 = 20034.5 (Amount that is missing)

Is this a case of wrong calculation on their side or simply fraud?

I hope this is not some trick to steal people's money. They properly think we don't do calculations.

This is really bad and so wrong.

My people what is the way forward. How do we handle this case and get the balance back?

In the proof of investment was there a withholding tax specified there?
If yes then there should be a rate/amount tagged to it.. Since there is shouldn't be a WHT on TB that should be your first point of argument. Except if they can proof there is a new rule to that effect or there is another transaction your friend did. I can count how many TB I have done again though will small small money but I can't remember paying any heavy tax on any. The only tax I remember always paying is VAT of 5% on transaction & safe which is most time very negligible.

Tell your friend to Send an e-mail to CustomerCareNigeria@stanbicibtc.com and copy the mail to cpd@cbn.gov.ng narrating all that transpired between you and them.

I believe if your money doesn't come out, a tangible explanation would be made for it.

@gogedda First of all you have to get your proof/certificate of investment to know the exact rate of investment he was given. They have to be an explanation for that in the proof if not what my own crude calculator is saying is that the what was left for you as upfront is not complete.
Account Balance = 5,010,654.05 - Amount invested 5,000,000 = Balance =10,654.05

Investment amount : 5,000,000 ÷ 100% = 50,000
50,000 x 13% = 650,000
650,000 ÷ 364days = 1785.7143
1785.7143 x 91day =162500
162500 - 300Transactn fee = 162200
162200 - 547.95 Safe Keeping fee = 161652.05

161,652.05 + 10,654.05 expected Initial Balance after deduction of investment face value = N172,306.1

If everything is as explain in your post, this is what I believe should be your balance. So if you check well they should be something you didn't take note of before or something you didn't understand.

Tojued:
This is a good question because with Afrinvest you don't need to go to the bank, they actually send you the rates by email. Today they even had 13.10% for 170 days. I'm interested in investing through them since I'm a 9-5er.

Their only charge is a 0,35% custody fee. Is this fair compared to what banks charge? Thanks.

@investnow2017 @Tony56 @all the inhouse experts abeg no jump me pass.

Pple talk about banks mostly because;
1)It is easier to invest in banks because almost everyone here already have a bank account or a requirement to own 1 before attempting to invest.
2)Most people around here have a branch of their preferred bank in @least their state capital. Its not that common with investment houses.. People have more access to investment houses mostly in Lagos, Abuja and Port harcourt.
3) At maturity it is easier to use the money straight from your account as it drops without going through the hassles of moving the money from the investment house to your bank.
4) Some banks have even cheaper custody fee...eg FBN has a Custody fee of 0.1%and a transaction fee of N100 for every transaction.
5)Lot of people coming here for the first do not know much about investment houses. Some even get to know them here.
These are the few reasons I see why it seem people here prefer banks to investment houses.

I'm not in anyway condemning investment houses as people uses have areas they benefit more than using a bank.

TONY56:
I will go for 12.2% Treasury Bill cause the mutual fund performance is a function of the TB rates. The largest investments of mutual funds are invested in Treasury Bills. So since TB rates are falling, mutual funds ROI will equally fall and with TB, you have up front interest which you can also reinvest for better returns and it's tax free unlike Mutual Funds.

That's my take. Also, risk wise, the mutual funds are a lot riskier than TB. if your operator of Mutual fund collapses, your investments collapses with it but your TB investments are safe and secured if your bank fails or goes under because your investment is with Federal Government of Nigeria

Yes mutual funds have more risk than TB that is because they do not rely solely on TB. They invest in shares and commercial papers too. Apart from Money
Market Funds all others have a mix of shares in it.

wanaj0:
He still own the shares of the company so in principle 'nothing'. Reality is that the shares will be difficult to sell and the company is no longer publicly quoted so not regulated by SEC and have no business with NSE.

Na shareholders for life be that... no b small thing oooo. The money seem to be as good as gone then.. . I have small units of Evan Medical that's why I asked. Thanks

Some Lawyer and quest for anyhow money sha... This is an advert for people that owe and do not want to pay to contact you abi. Instead of paying his debt he rather use the money to pay your fees. As a civil matter that no security agent have the right to arrest and prosecute a debtor it then means someone can go borrowing anyhow. You no sabi say as you smart that so the owner of the money smart too by the time wey dem go change the thing to 'Obtaining Under False Pretence' if you see no go comprehend.

Bianco1:
https://trwstockbrokers./2018/01/22/six-firms-face-compulsory-delisting-for-poor-governance/

The companies include Aso Savings & Loans Plc; African Paints (Nigeria) Plc; Deap Capital Management Plc; Afrik Pharmaceuticals Plc; Evans Medical Plc and Union Homes Savings & Loans Plc.

What is the effect of this on the ordinary shareholders?

ripbubu:
You guys should buy android

OK Sir but wouldn't be a bad idea if you can get one for me. Thank You in advance.

Empress2014:
pls dont vouch for stanbic, their mmf customer service is the worst i have ever seen, i made top up last year december, and it didnt reflect for about 3 days, luckily for me i have the screenshot of the succcessful transaction, i uploaded it, alas it reflected twice after uploading the evidence, showing i have topped up same amount twice, i have been sending mails since last year december that they should reverse one but nothing has been done to it, i was replied that it will be reversed but its still there,i still send a mail yesterday and the only thing i got is the automated reply, how long will it take to reverse a double top up reflection? Since 14th of december 2017.

Different strokes for different folks.... I subscribed online in the evening on the 21st of December, 2017 and I saw it in my MMF account the next day. That said, sometimes issues come up. I have seen people do bank transfers that will leave the senders account but wouldn't get to the receivers account. So those things happen just try and call their customers service. I am sure it would be resolved.

Thanks to everyone that responded.. I appreciate all your contributions especially those that proffered solutions to our problems/complaints.

damitalk:
Hello, I subscribe for treasury bill with diamond bank today (secondary market) 389000.i received debit alert of 378,704 . N.B Total money in that account is 389000.Now I have balance of 10,295.Pls is 10,295 my interest at the rate of 11.5

Your investment is for how many days?

eniorisha:
i'm sorry for late reactn to your prompt response to my worry, no thanks to d outtage of network here. I appreciate your effort. Meanwhile, for privacy, i deleted d alert notifying me dt my acct has been debited for d investment. I do not obtain bank statement too. I opted for sec mkt & @ a bank close to my place in Lagos.

Anytime you return and you are free b4 maturity you can go there and tell them to print the proof for you. No big deal... All they will ask is your account no and the auction you invested which in this case is secondary market.

Iamzik:
Good morning House.

Please what is the procedure to terminate treasury bill before maturity? It's one one year tenor and six months has elapsed already.

Someone please assist

@Investnow2017
@sancticruz
@freeman67
@smiliyB

Nothing much.. Just go to staff that attended to you when you invested and tell him the same thing. You will probably be given a form to fill or ask to write a termination letter to that effect.

TONY56:
Are you sure you are talking about treasury bills and not Bond?
I ask because Treasury Bills have only 91days, 182days and 364days tenors and if they mature, you will simply get your account credited back with your Principal amount

One year is synonymous to 364days, same with 6 months & 182days; and with 3 months & 91days.