₦airaland Forum

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Kemade2007:
Pls house I need your advice on this
I have #300k with Stanbic MMF which gives me #149-#150 per day. My questions are
-should I continue with the MMF or
-redeem it and put it in Treasury bill since I don't need it in the next 6months. Thanks

It's best you take decisions after calculating. Let me guess you ain't conversant with that. I help with the calculations and you make the decision.

For MMF earning say #150 per day.
If you tie your fund down for 6months(182 days), we have

#150 × 182days = #27,300.
The truth is the current rate that's yielding you #149 - #150 per day is subject to change and in this case, it would reduce further since the economy is recovering and thereby reduce your expected interest for the 6months(182 days), so it ain't sure you would get up to #27k because as the rate reduces for NTB and bonds(since it is the pry instruments MMF invest your funds), your MMF also reduces but the good part is, you can easily terminate the MMF within the 6months without incurring penalty, if you've held it for more than 1month.

For NTB,
Using the last rate for 182 days of 16.8%, we have from SI

P = 300,000, R = 16.8%, T = 182÷365 = 0.49863
I = #25,131.

If you deduct bank charges, as well as other minute fees which when summed up shouldn't be more than 2000. So, you should be getting about #23,000plus within the 6months duration. The good thing here is, you get paid upfront interest, and the interest is not subject to changes due to Economic outlook of the country for the next 6months, while the somewhat demerit is that if and only if, you wish to terminate the NTB Investment it's going to affect your profits either positively or negatively.

The choice is yours, do make your decision wisely! Regards

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michael03:
Pls apart from bank,which other reliable financial company one can do his NTB investment cos is as if am tired of doin wit bank cos at times dey won't just put my investments thru despite biddin within d cbn rate,for example d last one I bided 17.25 % for 182 days with GTB but still didn't hear anything from dem despite CBN rate being 17.361% for 182 days.

Chief, I would advise you port your cash to either Stanbic or FBN, if you still intend investing via banks. Regards

At last all powerful master(Mutual fund)...finally read through the 39pages today and invested with First Trustees/Stanbic IBTC Money Market Funds today. Still waiting for welcome alert.

Anyone with useful info on their Stanbic ETF 30 and Stanbic ETF 40? Hoping to take some risk with their ETF. Thanks in anticipation Sirs/Mas for replying

Ibukun003:
Was this successful?
And which bank please?

Yes sir.. FBN. Posted my ordeals here , if you scan through earlier pages you get to see it.

pafra:
I invested 3m in treasury bills for 182 days at 17%. The maturity date is Nov 4th.

What is the procedure for termination?
How much will be deducted from the said capital?

Urgent reply.

Simply write a letter to your bank's branch manager, titled termination of NTbills , and if you're around for quick replies, you would be shown available rates and you have the final say. But most times you would get less than the amount you invested, since your interest have been paid to you upfront.

No Pain, No Gain! Stay focused and victory is sure.

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zamirikpo:
Hello housemates
I HV unconfirmed info. That a bank I used for my TB is in serious problem and may likely shut-down.

I just got the call this evening . my question is....should this rumour be true,how do I get my money back.

How does the custodian bank thing work.

I don't want to mention the bank so as to avoid unnecessary panic, bcs like I said its unconfirmed report.

I don't have any certificates to prove my investments, but first thing tomorrow I'll ask for that from my branch.

Gurus in the house pls .......

Sir, hope it ain't Stanbic IBTC? So, we I can join you in damage control lol.

That being said, scan through this attached PDF file, it may provide one or two insights.

crowntoro:
The form I was given is a treasury bills form which I filled but it was not indicated on it to know if it was for primary or secondary? Which is best, primary or secondary market because I read form here that you can only invest in primary market only if you have above 50million

Both are ok, it all depends on your patience. You get to wait every 2weeks for the primary auction, and most times bid rates are higher, as you are almost dealing directly with the CBN or you do away with waiting time for Secondary auction, as most banks confirm if they have ready sellers of NTB that you buy from at their available rates. In recent times, Secondary markets rates are really encouraging and very high, about 1 to 2% differences from the primary markets rates, if when you factor in the 2weeks waiting period they become even per se sometimes.

And you can reinvest with less than 50million in NTB in Nigerian Banks(e.g FBN and Stanbic, those are the ones I've tried using after the govt policy became effective). So, the choice is yours to make. Do the needful from the little knowledge you've gathered. Regards

crowntoro:
Guys, please help.
I have filled a form at first bank since last week Tuesday for treasury bills after reading about it here but up till now nothing has been done on my account.. Though I didn't ask if it was for primary or secondary market but the guy in charge told me that I should wait till this week when there would be auction but I was surprisd last week when I started seeing that some pple went to the bank after I went and they have been debited and gotten their upfront interest
PS kindly advise me on what to do.. This is a week now since I went to the bank(FBN)
Should I give them more time since they already told me to wait till this week?

Next time always ask, if not, they don't mind giving you a lower Secondary rate. And you didn't provide enough information, what form were you given to sign. A good practice, with some of these banks, always ask for a photocopy of the form you and them signed and acknowledge incase they intend behaving funny because you are new into it. Go back and instruct them if you want Primary or secondary, it's your money. For FBN, If primary and you have filled and submitted the request form, you should have been debited , and you get credited with your profits a day after the auction (Mostly Thursday's for FBN).

I hope it helps. Regards

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