₦airaland Forum

I saw the post below from Nairaland stock thread..
by peterichy
http://abokifx.com/cbn-sell-n123bn-t-bills-tomorrow/
The Central Bank of Nigeria plans to sell N123billion worth of Treasury bills.
Data obtained from the CBN website showed that it will auction N91 days bill at 13.5 per cent worth N45.18billion, N182 days bill at 16.8 per cent worth CBN to sell N123bn T-bills tomorrow N23.4billion and N365 days bill at 17.5 per cent worth N54.4billion.

I don't know where u school but if it is a higher institution, you can go and contact one of the kiosk owner there to see if you can invest the money in his/her business at a particular interest/period.

precious00:
Hi all,
I have a few questions on treasury bills, especially on the secondary market.

*whats the function of the custodian?
*what does the bank do when you pre-maturely request to end your treasury bill?
*Is there also auction in the secondary market??
*If a bank goes insolvent after uve successful bought Tbills using them, how do you get the value of your treasury bill when it matured

All these questions you are asking have been answered here before. You would have taken your time to start going through it from page one. But maybe some of you coming now do not have the strength. So will try to answer some again at least it will help increase the volume of the thread.

* In order to separate Money for treasury bill bought by bank customers from their the banks real property /assets CBN instructed they keep it separately with a custodian. you will find the full explanations here: http://nairametrics.com/official-fom-1514-buying-treasury-bills-bonds-will-cost-you-a-fee-and-this-is-who-earns-it/

* When you prematurely request to end your treasury bill the bank will look for buyer in the secondary market and sell it to. But then depending on the percentage at the time you bought and the time you want to sell prematurely and also the percentage the buyer may b willing to buy you may not get up to the interest or end up loosing a little of your capital eg. If you buy when the percentage was as low as 7-8% Per annum you will not want to now and expect the same interest when its about 17-18% now. Selling it will consume part of your accrued interest.

* Yes there always is mostly through security houses.

* If the bank goes insolvent I believe if you contact the custodian used by the with your particulars and evidence of the investment you will be paid.

Mumben:
buy-treasury-bills.-reason-is-dat-it-is-risk-free-n-guarantees-u-about-10-12percent-ROI-in-about-90days...gdluck

The only reasonable advice.. but not completely true..That interest is calculated per annum and not quarter as you put it.

ihedioramma:
what we are asking is the date to drop our bid in other to follow or get it?

latest Tuesday 18th October.

dejiotus:
Wednesday 19 October 2016 and not 20 October

Thanks dejitous ... Wednesday is 19th... its an oversight.. On the calendar its 20th october.

michael03:
Pls d t-bills guru in d house,tel us which is d exact date for nxt biddin ooo,is it 19 or 20 Oct,so dat we wil not miss it.thanks a lot cos u guys ar doin a great job. I just can't wait for d nxt bid

For you talking missing the date... if you did not drop your bid before the close of work on Tuesday I don't think you will get it at the primary market through banks for that auction..

ihedioramma:
Freeman67 when is the next bidding day?

Modified

The next auction/bidding date is 20th october, 2016

40manlappy:
It's not impossible, you can terminate your investment at any time. I am actually thinking of part-liquidating mine this month too and I have done it before.

However, you must recall that you have taken your interest upfront and be prepared to lose part of the amount that you would have received at maturity.

It's a personal decision that you have to make since you are not making headway with "soft loans". You have to weight the benefit/cost of your proposed purchase versus waiting till maturity.

Depending on the interest rate then.. he may also liquidate at a loss... If he bought it around the period when the rate per annum was 7% and he intends to liquidate now that it is around 18% he will not just loose the interest collected upfront but some part of his capital becos it is dependent on the days remaining and the rate there are willing to buy at the secondary market.

Annalise:
No one is answering that question. I have asked.. and deadline is soon.

Someone have answered....

feelamong:
Just stay around the last Stop rates... Nothing has changed much in terms of liquidity..

Annalise:
No one is answering that question. I have asked.. and deadline is soon.

Someone have answered....

ernieboy:
guys thanks for all the info. please I have a few question:
1. to place a bid for purchase of tb does one need to go physically to the bank or it can be done online.
2.what's the min that Stanbic accepts for trading?

Response...

1. No you must not be there physically but you will have to contact your account officer to send you the form to fill.. After Filling and signing then you send it back to him/her and ensure it is delivered and delivery acknowledged.

2. On Stanbic IBTC Tender Form the minimum amount written there is N100,000 and addition should be in multiple of N10,000.

Hope this helps.

ukay2:
Wait till Monday so that we can see the direction of cbn omo and secondary markets rates


Oga feelamong is always ready to guide us....

I have done all my NTB for now...no more money to do till I gather funds again...

Monday is public Holiday check the link below

https://www.nairaland.com/3378157/independence-fg-declares-monday-public

honeyfave:
This how it should be. First bank deviated from this. What they do now is to debit 1 million from your account and later credit #130,000 to u as TB interest. Anyone to collaborate this? Need to take a decision now! Thanks

Different Banks with different styles.. It must not be the way s/he explained.... As you submit your bid with FBN they'll deduct the money from your account and put it with their custodian.. If it goes through you upfront will be credited back except if you request for them to invest it with interest..... If your bid is not successful the whole money will be credited back and if you intend to roll over it will be rolled over at their bid rate/% for that auction..... but with some banks once you miss the auction you will av to wait for the next even if the bank bid succeeded..

Thanks...Please I want find out something ,I v 6months running TB that will mature on the 16th March 2017 and I intend rolling it over to 1year .Is it possible?

My bank is Fidelity bank.[/quote]I don't know about Fidelity Bank..Haven't used them before...I don't even have account with them.. But I believe other member that know about here will comment. You can also walk into ur branch or mail them to enquire.


@Pastor If you bid 13% for 91 days and it turns out to be 18% nothing will happen...Your bank will give you the percentage you bided. Interest is paid in the banks I use between 1-3 days of auction.

ihedioramma:
Can fbnh take #100,000 in tb sir?

Yes Pastor they accept from N100,000 upward.

uc198080:
Please can TB be rolled over?If yes,can one roll from 6months on maturity to 1yr?

What is the process?

Yes it could be rolled over in First bank and probably GTB too but I have only had a personal experience of it in FBN.

The process is quite simple on the form you are given to fill in FBN there are options of rolling over invest and capital or rolling over only capital....etc just tick the one that is OK for you.

Note:
When it expires and the bank bid do not go through the money would be dropped back in ur account till probably the next successful auction.
Hope it helps...

Omonigeriarere:
Hi my people, please how do I calculate my yield. GTB subscribes to TB without my instruction and I want to know whether to accept or reject the bidding although I have been unsuccessful in my previous bidding with them.

I was credited with 42,314.18 on 500k in 182 days. Therefore, what is the % and is this a good bid?

That's 17%.
your is better self. Stanbic debited just half of my request and left half me.

kettle84:
why naira sign on his product? is it a federal government product? 'Made in Nigeria ' is OK.

what he means is the inclusion of Naira sign among the money signs in the computer... All western computers we buy has dollars, Pound Sterling and Euro sign.

This particular risk is not worth taking because a lot of people would be caught unawares when it would fold. By the design of the scheme the more interest you get the more money you would want to commit meaning it is design to fold with your highest contribution.

A bully tried to liken it with bank in that other tread but the truth remains that some of us know that banks give loans, buy asset, partner with businesses to make profit, invest in treasury bills, bond and other commercial papers just to name a few. All these is to make profit yet they cannot give out so huge interest as 30% PA. Most registered commercial banks are insured.


Even our local cooperative societies give soft loans to it members, do some buying and selling, invest in properties etc to make profit to its members.

what is the business of MMM?

"An important factor in the scheme's success was
word of mouth , but most of the company's success came from its extremely aggressive ad campaign, which appealed to the general public by using "ordinary" characters that viewers could identify with." Wiki

I will like to advice you to watch your involvement with them because people have started educating themselves on the scheme and soon some that have gotten reasonable interest will stop paying. what will become of the rest..?

Also like a poster said on that thread you are being lined up to be scammed. They could send same account number across to all donors and go away with all the contributions. who would you hold?

People that have office like Trim MFB scammed money off people and left clean what then will guarantee a virtual donation/contribution scheme like MMM that has no know office to anybody.?
Even liberty reserve failed people.

Not out to discourage you but to state what I observe base on the facts I came across. But a word there say is enough for the wise

Please do not start here again. A thread on this scheme was drawn to the front-page from business section this morning and there was an extensive discussion on it.
Personally I have gotten several text message inviting me to their website and I have also met people here on Nairaland who would have succeeded in drawing me into if not for the fact SEC posted that advise and I had the opportunity of reading it. I had in mind to research on it before putting my money but was too lazy to do it so I was just going to go with their sweet tongue.

what particularly caught my attention in the discussion on that thread is a link somebody posted that I decided to check out. Here is the thread.. https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme)

you can also google MMM to see the first thing it brings forward. Most businesses, organisations and corporations build on their track record. You can see that of MMM for yourself.

Diamond Bank frustrated my efforts in trying to drop a bid today. I once got from secondary market through them so last week I tried getting it from them to no avail. yesterday I went to one of their branches with d intention of placing my bid against the next primary auction but they started telling me about what the have in secondary market. Their duration and rate was not satisfactory to me and there was no willingness to let me bid for open market so I decided to move my money to another bank.
These days cash withdrawal is not more than 500k so the best option I had was to do a transfer which I did. That transfer I was told would take a maximum of 24hrs so I just thought I will see my transfer in my second account but that turned into a nightmare as my diamond account was debited and d destination account was not credited. I called their customer care when it was getting past the 24hrs around 11am and was told it would be resolved soon so I kept hoping it drops but unfortunately it did not.
Around 06:00pm this evening was when I later got the alert from my other bank account . Then they follow it with a text that my complain has been resolved but by then it was too late.
Thank God the money later came sha.... e pain dem say I no do their secondary market...

feelamong:
The auction is on the 18th...

Your account would be debited on the 19th if you are successful

@feelamong pls if any of the bank or security house you use have suggested any rate for you please help me with it here. I would have dropped my request today and go with the stanbicibtc bid rate as I usually do but I had to change my mind because of the blow I got from them in the last auction. Their 91 days bid was not successful and the solution they could come up with was that I should take 12% from their secondary market but I was not satisfied with that so I want to bid for myself this time...

rheether:
Enugu have been forgotten. .Eastern Nigeria is doomed.

Not really.. Its just that there is more coal deposit around that area than Enugu but the state already has confluence which is more conspicuous, popular and with in the capital so no need dragging the name coal city with Enugu.

Sylverly:
Why do people still settle for bank rate, when you can comfortably predict a juicy rate from the last stop rate. Have had a terrible experience with zenith bank,going with their stop rate...not until I took the bull by the horn..Gave my rate of 11.5% for 365 when d stop rate was few fraction higher than my bid , In the early month of march..still waiting for maturity.

It depends on your bank bro. People that bank with Stanbic know that there are not perfect but considerate with their ℅ to some extent.. also if you bid for yourself, your bid may not always be successful and if its not you will still have to wait for another two weeks.

zamirikpo:
@munezo it all depends on the rate, some banks or most banks want to exploit u.
I was at my bank today and a marketer was trying to sell 14% for 182 days Tinkin he was impressing me, probably tot it was my first time. But I insisted On 17% for 91days. Though I may not get it but imagine the difference. 17% for 182days is almost certain but he was selling 14%.
So it depends. DiamondBank tried to sell 9.5% for 182days in July.....
So most banks are there to make money.. ..so be informed before u bid, don't always go with there rate.

Sylverly:
Why do people still settle for bank rate, when you can comfortably predict a juicy rate from the last stop rate. Have had a terrible experience with zenith bank,going with their stop rate...not until I took the bull by the horn..Gave my rate of 11.5% for 365 when d stop rate was few fraction higher than my bid , In the early month of march..still waiting for maturity.

It depends on your bank bro. People that bank with Stanbic know that there are not perfect but considerate with their ℅ to some extent.. also if you bid for yourself, your bid may not always be successful and if its not you will have to wait for another two weeks.

Diamond seem to be about the worst becos most time they will want to sell to you from what they already have....

I did 91days with Stanbic IBTC and was given 14% . I chose to go with their but my friend that did with FBN got 12%..

Dbrainiac1:
I don't know which is better than the other, like I said I'm not here for comparison. Just that an ABU student is not naturally ahead of me, or anybody.

Every University in Nigeria have their own slogan an for ABU it is 'naturaly ahead'

Like you said for UNIMAID it is ' if you want to be MADE come to UNIMAID'

It will not be correct if an ABUSITE start telling you u UNIMAID has made nobody...past glory or not..There ought to be glory in the past before living in...

If the institution you attended has not given u anything to be proud of ... do not be offended its nobody's fault but your and that of your institution...


Proud Abusite..!!

Royal155:
I swear FIRST BANK is the best bank for this T.BILLS. I actually got %14.5 for 186days tenure. Oboi it pays to go with bank rate atimes, especially FBN.
I must lock down another fund next week. This easy money sweet i swear!

Yes it pays but you were just Lucky this time because other times there may not even debit you. There will leave your money in your account for you and with you would miss 2 weeks.

Kowor:
Concubines r tearing demslvs up, what should d wife do?

Relax cos God is already in control of her situation. After the fight the two concubines will still come out as the loser.

Though he was once an ABU VC but why is he using that Logo when it is his personal school?


And to the boy congratulations.. God will double what the ritualist think they have taken from you and visit them with more misery than what they intended to put you through.

To the journalist and other helpers may God continue to provide for you as you stood for this..you shall find even before you seek.(Amin)

Damolux01:
House, I recently introduced a brother to Tbills, he then asked if banks charges fine for termination of one's investment prior to maturity date. I told him I don't know since I haven't terminated any b4. Help with answers pls.

its a bit dicey ..once you invested and your account is debited most times your upfront/interest is left in your account... meaning they did not take that complete amount you were to invest from your account in the first so there is no way u can get complete money back.

The government which is the primary issue only remits money to you at the expiration of the contract so in most cases if you ask your bank to terminate before maturity it then means there are either the ones buying it back or maybe customers that missed the primary market and intend to buy in the secondary market that will buy it from you so in most cases they try to buy for a better bargain. Depending on the time you terminate it. If too early you it may be sold at a higher percentage to the buyer and you would loose some money.

from the experience of the little I have done bank charges for commission and VAT on commission and custody fees when buying but I believe when selling its the new buyer that will pay those.

Let more experienced house members come and explain more you may get better explanation..


@feelamong you attention is needed here...

keylaz:
treasury bills is good, tho the rate this days are poor. i have scheme that works better and cooler than treasury bills, u get 30% interest of ur spare money monthly. both capital and interest can be withdrawn. contact me on whatsapp 08037260895 for more details. its free

If this is not a scam .....

1. You will not be posting on any thread you smell money..It s on almost all the thread that seek business or investment solution.

2. If it's not a scam with amount of advert you have given it you would have gotten enough customers to stop marketing it considering when I started seeing your advert.

3. If this is not a scam you would have created its thread for it even though most scam and ponzi schemes do..people with discerning minds would have sort it out for them selves.

4.If this is not a scam we would have gotten genuine testimonial on people that have tried it and benefitted from it but I haven't seen none of them..

If you are the founder and the real owner please desist from it and if you are not..please do not let anybody to use in duping people in the way of Trim microfinance banks and the likes...Because those people would not see ur bosses but you the marketer and at the end you will be the one to be cursed ...

deantimes:
http://.com/forgery-i-am-not-answerable-to-you-agf-tells-senate/

The picture attached to this thread is the picture of Accountant General of the Federation and not that of the intended Attorney General of the Federation...

IamMissMarvel:
As much as hard work pays, I'll never allow these mallams touch my feet or hands.

Do they even sterilize their tools properly?

Best to go to a salon with your own pedi and mani kit. Its way safer and more hygienic.

most times some of us criticise because we feel we can if not...there is nothing there if u give them your own kits to use for you... those mallams do it for you at the convenience of your home or wherever you deem fit....that's home service and I am sure you won't want to pay the home service exorbitant price of your posh pedicurist. People that use the services of these mallams feel it affordable and convenient.