₦airaland Forum

kaze4blues:
Can I trade treasury bills on the secondary market for lower tenors such as 30 days?

Is it possible to add to my initial investment on monthly basis in treasury bills?

Kindly help enlighten me.

1. yes....If you are lucky you can get it sometime...

2. I'm not sure..Its somehow stressful and TB investment is not such that is maintained by the banks alone. its easier done that way with mutual funds.

if he succeeds in investing in mutual funds is money market fund with that money he should be getting @ least 2k daily with the current rate. He will also be able to terminate after one month. His only problem is opening the in time depending on where he is.

For treasury bill if he is lucky enough he may find the tenure he is looking for at the primary market...He may also wish to invest for 91days and terminate before maturity but that now may be dependent on bank selling it before maturity...

For fixed deposit he can always walk into the bank and invest for one month wish is usually their minimum tenure or even call deposit if he will want to collect his money before one month.

In all the mutual fund (money market fund)and TB seem better.

festobit:
Thank you for your help.

I actually applied for Primary and asked that my interest be paid upfront when filling the form.

I have asked him (I. E. The guy in charge) to give me proof of my investment and he keep saying that he has not been communicated.

My account was debited on the 19th of October 2017 and till now no proof of transaction has been issued to me.

I have sent a legal threat to their head office. I just hope it gets their attention.

But being a newbie in treasury bill, that is why I wanted to ask you experts on nairaland if this issues are normal before I over react.

Thanks

You do not have to send any legal battle threat to their head office..

Send a mail to firstcontact@firstbanknigeria.com Just narrate all that transpired (let them know the branch and the details of your transaction). After laying your complaint, tell them what you want from your proof of investment to interest upfront.I am sure your issues will be treated.

Make sure you do it very early so that they will see it in time. I am sure before the close of business the guy will called the and resolve everything.

Bros as said above, you can either count the no of days remaining from now till December 7th you need the money and approach either FBN or Stanbic to see if they have something around that duration left to invest or better still you can sharply invest it in Stanbic, FBN or Arm Money market fund..at least any interest earn is guaranteed after one month.


Pls avoid all unknown financial institutions marketed here ooo..... Your interest should not be too much on what you will get let it be on preserving your capital while earning the little you can too..

festobit:
I visited a FirstBank branch close to me to do treasury bill

I filled two forms for tbill
One for 180 days and the other 91 days.

After three days my account was deducted but the interest rate was not paid to my account as they deducted the full money.

It's almost two weeks now and I have been going to the bank, they are yet to credit me with the interest neither did they send me any email regarding the tbill I did.

I was still there on Friday and they said they would put up a memo on it.

Please is this normal or is there a fraud case here. Being a newbie, I am counting on your experience to know what to do.

I don't even know what the interest rate is or even the maturity date. I don't have any information as regards the transaction. I only know my account was deducted.

I await your urgent responses.

Thank you

What you should do is visit the bank and go directly to Officer that attended to you. Before going be sure of the date you made the investment...if you do not remember the date just check either you mobile app for your statement or request for your statement at the bank from the period you made the investment. I believe you should also know whether it is primary or secondary you invested in.

With that, just go to him/her and request for your proof of investment.. A certificate that carries the details of your investment.( you will be asked of your name, account no, amount invested and most likely whether its primary or secondary market)

About your interest not being paid upfront, that is dependent on the option you choose on the form when filling it. It is possible you chose the invest capital with interest option or they made a mistake and invested it for you that way. However you could also check your balance to see if its there because first bank most times drop interest without alert.

I believe this will help you.

C4Ltd:
lol

what's your point. secondary has always been better. I just wondered why people always form sharp and informed chasing after primaries. I don't stress myself looking out for dates. I just go, ask for available secondary options and invest.

today I simply got 16% for 100 days

primary probably good for the big multimillion boys/group of boys.

With primary if you tick reinvestment option, you dont get to loose a day... It will be reinvested at the prevailing market rate automatically...

Also if you have up to the CBN minimum amount of 50m you can bid for yourself and probably get a better rate than the banks sometimes.

When the rate was stable at 18% and above for 364days the primary market was always better because even if you go to invest a day after...they'll always give you something a lil lower.

It looks more attractive now because the rate @ the primary is falling..what they are selling at secondary market now is what was bought higher earlier in the primary market. So it just a matter of timing.

Kentrasso:
Hi all, my TB will mature by the end of this month. Is there anything I need to do or they'll just pay it like that?

You don't have to do anything just wait and receive the alert on Thursday of the week it is to expire. However if it is first Bank you may not get alert but the money will still enter your account.

U1:
Ma'am, did you invest up to N250m?

You may be surprised by the question. But that's what some apparently clueless customer care agent told me I needed to invest in the secondary market. The person told me I can only do primary market with less than that amount.

If there were any limitations, such are more likely to apply to the primary market. I was aware that the minimum for that was announced at N50m months back. Still, people still do lower amount. So I knew the agent had to be clueless.

I'm amazed at how people seem to get secondary bills at Stanbic with relative ease. I went there four consecutive days two weeks ago for same, but it was one story or another as to why I can't get the TB.

I actually got the erroneous or deceptive customer care response after visits to bank failed to yield something positive. To think I opened the account recently solely for this purpose. Fund movement looks inevitable as things stand.

In as much as account officers in various bank or beaches can sometimes be mischievous, it is also very true that some TB officers in some banks and branches can be very clueless and in most cases would want to force their clueless opinions down your throat. In most cases what to do is that....

1. Have some idea of current news and happening in TB market before you go out there; so that if they are not inline you can put them through.

2. You could try and confirm who is actually in charge/ responsible for TB investment there..try to chat with him/her to know how knowledgeable he or she is in it. I know TB officer that just started investing for self and family not too long ago. She is just getting to be more interested in it. Also, I was in Wuse market branch in Abuja sometime around June 2017 to invest in secondary market and the dude there told me he has to call & confirm whereas before then any branch with active TB officer will just loggin their platform to see what's available provided there is network. The guy kept wasting my time with his cluelessness till after about 20mins. I left to Wuse Zone 5 branch and the lady there showed me what's available. In not less than 2mins.. I made my choice, filled the form and voilà... It was done.

3. Always avail yourself the opportunity to either go to other bank or branch if what you hear from the branch doesn't go in tandem with your prior knowledge or you do like some people here by posting their findings directly while in the bank. That however, could be unreliable sometimes as people that have answers/knowledge abt the questions may no be around to give inputs.

From personal experience, stanbic does both primary and secondary from 100k and above even after the CBN rule of 50m. The issue with stanbic is that for their secondary market in most branches around(Abuja) here. They'll have to call their Global Market to confirm if available and ;what rate and tenure. In FBN if there is network you are fine because right there and then they'll loggin and tell you what's available. You could only have issues with the secondary market with on Wednesday & Thursday of auction week because of auction and settlement.

cdenc:
Please, who has the phone number to report when treasury bill officials in banks are refusing to process your treasury bill purchase. They tell you they would not process your form for primary market if you do not have 50M and if you have less than that you can only get secondary market.
They want you to buy secondary market by all means. This is becoming too much for a particular bank.
Guess try to submit your forms if your bank is accepting as it ends today 4pm for the next auction

You cannot report them anywhere because that is the CBN rule. Though some bank & branches accept their previous minimum before the rule was announced, they still reserve the right to do otherwise as it suits them. If you are told you can't do less than 50m all you can do is to look for another bank or branch that accepts what you and transfer your funds there for onward processing to avoid vexing yourself for nothing.

atigro:
HELP HELP HELP

Good morning house, please I have trouble in calculating my interest yield from. Please elders these are the parameters
15.80% 92days on #100,000 secondary market Firstbank. The alert I got is not the normal calculation I know on this forum. Please help me as I prepare to face them this morning. Something is fishy somewhere. No wonder I was suspecting the account officer yesterday as her body language was one kind!

N100,000 ÷ 100 × 15.80 ÷ 364 × 92 = N3993.4066

Minus Custody fee of 0.1% which is N3.993
Minus Transaction fee of N100
Minus 5% VAT of Custody & Transaction fee which is N5.19965

Your Interest is to be N3,884.2

Did you get anything more or less?

Kemade2007:
Please house, I'm at stanbic bank for TB secondary market. The officer in charge told me he needs to send a mail to confirm the tenor and rate on ground and more than 10mins now,they have not replied the mail. My question is
Is it normal procedure because I'm always on primary this is my first time of doing secondary market

Pls I need urgent reply.Thanks in advance

Yes, in Stanbic IBTC secondary market that's how is it. Feed back is gotten early only if you are lucky. Sometimes they just ask you to feel the form and leave the space for rate and tenor to be contacted later. Sometimes it takes uptill the next day before you are contacted.

ahmg001:
Hi guys,I av zero knowledge in TB nd wud love to invest,pls hw do I go abt it

Read this thread from page 1.

priscaver:
Hello fellow investors I need your suggestions and advice please. I sold my shares up to 120k and told my brokers to reinvest in treasury bills but they said they are not into it. They suggested skuk and FGN bonds. Am not conversant with these investments my questions are
1. They said I can't buy TB on my own cept I have up to millions and I hear others talk of secondary makts here. Can that amount buy in sec mkts?
2. If am buying wit sec mkts must I go thru my brokers?

3. From the explanations and risks mentioned here do I go ahead and accept d 2year FGN bonds suggested by my brokers?

4. If an individual can buy TB in sec mkts do banks like GTB and UBA sell or its done only in some banks mentioned on this thread?

Thank you all as I look forward to your contributions

Its true that some brokers and even banks don't do TB less than 1M but others do. So the best thing for you to do if you still want to invest in TB is to ask your broker to transfer that money to your bank account. Since it seem you only have GTB and UBA, the money should be transferred into your GTB for you. Some UBA branches don't do less that 1M too so I do not know where yours belong but with GTB you can do invest in primary... Their secondary is not like FBN or even stanbic.. From my own experience getting secondary in GTB most times is based on luck.

Good luck

It then means eurobond is very risky. If you bought dollar from aboki early this year when it was around N400 for 6% and @ maturity dollar is hovering around N360 as it is now.. You will definitely loose part of your principal. Even if everything remains same...what's obtainable in the local market seem to be more profitable for now... Investing $5000 @ 6% will give you the interest of $300 which when converted will be about have of whats in treasury bill now

CuteRedd:
Pls what are the benefits of bonds 7years bond at 16%
Doest that mean I will collect the profit at the time of investment then my capital is paid back after seven years. How is that a reasonable thing? Or I am missing something here?

What are the advantages of bonds?

The benefits are that your money is invested with FG for 7yrs @ 16%...Meaning Even if the rate later comes down to 10% your 16% is constant.

The interest is paid biannually... Twice in a year. The 16% interest rate for each year in those 7yrs is paid two succession. If for example you invest N100,000 @ 16%. You will get N8,000 in first half of the another for the second half of the year.

As Nigeria we are we do not easily accept change...we have also witnessed lots of scam issues so everyone is alert and security conscious. In this case I think the originators have try to consider some security situations too by doing certain things like ....

1) Putting some time lag between when request is made and when action is taken.. 24- 48 hours is a very long time to frustrate a scammer.. It is also enough time to contact your bank for a missing ATM card except it was stolen and you had no idea of it. (In a case of stolen ATM, even if it happened weekends you can always call or mail their customer care.)
2) By sending a notification to the number you wish to switch from... It then means if you the real owner is not the one authorizing the switch you can act on the instruction in the notification before the change can be effected. Except of course if the person intending to scam you is your buddy...

In all its still very OK for people to raise concerns in this type of issues because that the major way for people to know the likely flaws and how to avert them...

Olarewajub:
Hey Guys!

I submitted my application today (First Bank) and my account was debited immediately.


My confussion is no interest was paid, rather they took the whole sum i invested.

What should i do?

For first bank there is an option of rolling over capital with interest or investing principal plus interest on their TB form are you sure you didn't select it?

If you are very sure you didnt choose that option then just exercise patience till to close of business today you should see it but if you didn't.,you can either call, mail or go and complain physically.

meetchandus:
Greetings to everyone in the house.Please can I get about 7 to 8 months tenor(period) from the secondary market? And which bank will be best to get this with a good rate .Thanks

7-8 months is about 212-243 days... Yes it is very possible to get that a tenor around the days. You can get a good tenor in First Bank secondary market. Just try and go early.

Diraxkgb:
freeman, its obvious you did not read my post well. There is nothing i will gain by tarnishing the image as i use this product. Read between the lines and call a spade a spade baba. I knew very well wat i bought and had all relevant infor. If tbis is about slot, how come that the infinix themselves do not even have this xpen in thier office for people to buy?

By the way bro, there are only note 4 and note 4 pro. We know dier specifications. All those other 3 variants you are talking about are semantics.

Yes Specs could be the same but the contact of each packs as advertised were not the same. Other people here have told you that the note 4 pro came in 2 variants the 1st one which is what you bought came without Xpen and pouch @ a lesser price and different time... The other variant came about a month after with Xpen and pouch at a more expensive cost. Other people here have told you that also...

The firstwhich you bought is about 66k and the 2nd which is what you wanted but didnt have the patience to wait is 70500.

Upload your receipt let's see the date and amount of purchase. Then we'll check infinix website for the release date of the two before we can then call a spade a spade..


Not selling Xpen seperately might be a way designed to market the Xpen variant .. And they reserve the right to do that. If as a customer you so desire it, the best you can do is to either contact their customer care or indicate it in their product review. Not to do social media blackmail.

Op somehow you are just tarnishing the name/brand image of infinix mobile for nothing.

I was @ Yudala in Bannex Abuja two week before the release of Infinix Note 4 series. On enquiry I was told that there was going to be 3 types of Note 4 to be released @ 3 different times.

The 1st will be the Note 4 LTE (2GB RAM &16GB ROM) to be released first..@ the least amount.

The 2nd will be Note 4 pro (3GB RAM & 32GB ROM) to be released a month or so..@ a higher price

While the 3rd will be the Note 4 pro (3GB RAM & 32GB RAM with Xpen & pouch) to be released last @ the highest price.

That said, As Nigerians we can be funny sometimes always trying to outsmart each other. It is either you are not being truthful with your account of paying for the Xpen version hoping to pay less for more or you were played by slot (seller) in order to record more sales.

None of that is the fault of infinix mobile as a company and producer of that phone. If actually what you piad for 'not what you thought you paid for' is for the Xpen version then you should direct your grouse @ slot mobile who sold it to you.

Partnerbiz3:
f I invest say 1 million in T bills for 365 days at say 18% and I terminate after 60 days, what's likely to be my penalty?


Freeman67

Feelamong

"In the event that you have to liquidate this investment prior to the maturity date indicated above, a penal charge will be applied based on the prevalent rediscount rate."

The statement above is the only thing I have always seen on the proof of investment. I believe it depends on individual banks. The first and only time I ever asked for termination before maturity was when I told them to terminate @ before maturity and they forgot and rolled it over. I lose some money back then because it was sold less than the rate they bought it for me.

You can only get the right info if you contact your bank.


However, the penalty is also dependent on if you have collected your interest upfront or you reinvested it.

If you collected the interest upfront it should be about N180,000, If reinvested with the principal it was to come as N220,000.

Now it is just 60 days out of the initial 364 days you signed as contract meaning you have 304 days left. If your bank decides to sell for you @ the rate you got it(18%) it will be either 180000÷364×60 or 220000÷364×60 which will either give you about 29600 or 36200.


So if you collected your interest upfront what you may likely get back is about 849600 if reinvested you may likely get 1036200.

Hope you don't get confused. This if they succeed in selling and refunding you after the 60 days ooo.

joseph1013:
Looks like the rates are really dropping. Just left Idejo Branch of Stanbic and I was told a 322-day tenor is 16.9%

Do not raise an alarm if you av not done comparative analysis of the indices involved. I got 18% for 281 days in FBN yesterday. Secondary market is subject to availability and what the rate the owner/bank would want to give it out. @ least you have to wait and see how primary market fare in the next auction ...

Kevostica:
Gurus in the house i appreciate the good work u people are doing here. What is diff buying TB in primary and secondary mkt. which is good to go for?

In primary market you buy directly from CBN while in secondary market you buyer from those that bought before and want to sell. In banks like FBN you can roll over your investment if done in the primary market but that of secondary market will drop in you account immediately it matures...
I hope this helps.

katamo:
You don't have to buy the actual gold. You can buy an index fund or exchange traded fund that will move the same way as gold prices.

Thanks bro but I will still need more input from Oga Emma

emmanuelewumi:
Foreign currency, stocks, real estate, gold, have a business, etc

How does investment in gold work?

For those intending to seek redress for any reason, There is a need for them to first of all make enquiry in any bank or financial house they intend use about their policies in regards to TB before investing or initiating any redress seeking process. Also before signing the documents/request form given to you there be sure you understand what is written there and agree with it before going further.

From my dealings with FBN I got to understand that most times the branches I deal with do not accept TB request if done in the very week of primary auction. Also they make deduction in preparation for the investment immediately they receive your request. However,that does not mean that you will automatically succeed it only mean that if FBN bid succeeds yours will. If eventually it doesn't, you will be notified of available options of whether to go with what they have in the secondary market,leave it till d next auction or refund your money back to your account for you.

ijeshaboy:
please when you fund it,was your MMF account credited immediately, cos I tried it and it was successful and I was debited but my online MMF account wasn't credited although I did it late in the evening today.

Sorry I didn't see this ur post in time. It has never been immediately but most times its within a day however other days like Friday,Saturday and Sunday it may not be done same day...

tolajay:
Thanks.

Had a chat with FBN via Twitter and they requested a valid form of identity. BVN wasn't started.

Sadly, I just struggled to get a Voter's card today (not the plastic one) and I was told it won't suffice, too.

Getting a national ID is like wishing corruption out of Nigeria.

Guess, I'm locked at the moment.

Go for National ID registration. The ID itself may not come out soon but the slip given to you after registration is acceptable as a valid identification in banks. It shouldn't take you much time to get registered depending on your area.

Keeppushing:
Good morning great people. I have been following this group for a couple of days now.

I just started out and have saved a bit over 70k. I don't want it lying lazily in my account.

Please can I invest it in TBills?

If I can't please can someone advise me on the right part to go. Really want to start investing into something not Ponzi though.


Thanks in anticipation for your helpful tips.

You can invest it in mutual fund I.e money market fund, FG bond and FG saving bond....The lowest banks collect for TB is 100k

ijeshaboy:
Please I did TBills of 182 days with gtb on the 6th of April, based on my calculation it suppose to mature on the 6th of October, please kindly correct me if am wrong. Thanks

5th October