₦airaland Forum

Yem0350:
List at least, two MMF that does that. I have asked you to list those MMF that are better than Axa and reason why. Let us learn from each other.
I have 6 different MMF account, so, I know the reason why I said you should list at least two.
From my experience, none of them is 100% perfect.

Please has Stanbic MMF ever had a better rate than AXA Mansard MMF?

vexing:
I did the 364-day TB and my interest was credited today but when I calculated the interest based on the alert I received I was disappointed that it was approximately 11%. I was expecting something higher for a 364-day TB.

Well, your bank must have set their bid for 11%. No one knew that rates will be that high

Holar09:
Please, somebody should answer this

To register, you must use a minimum of 5,000 and a maximum of 20,000 using the online/mobile platform after which you can increase the amount. The terms and conditions are stated on the first page of the registration portal.

4601CE:
The interest is paid daily? That’s cool!
I saw someone said it’s quarterly.
Or maybe he was talking about sth else

It is not like you will be paid every day.
You will see the interest on your money as it accumulates each day. However, at the end of every quarter you will be paid your interest for that quarter directly or it will be added to your capital depending on the agreement with your fund manager

Rosezee:
then you're not as smart as you think you are. Read them again.

I have to disagree with you here. You did not say anything about the original store which was supposed to be a reference for the calculation. I think that all those who commented with 60 as their answer had answered the question before or went online with the question and gave you the answer they saw without even understanding the solution.

Tipzta:
When you want to buy an item of, let's say #20,000, u can insert coupon codes to reduce the amount. In this case, u will now be paying #14,600.

Does the item have to be a minimum of #20,000 or I can buy a product of as little as #6,000 with it?

anitank:
Just left first bank. Got 364 days @ 11%.

You mean secondary market?

Hello house.
When a bond is listed on the NSE like the FGN savings bond listed above, can an individual only purchase a number of units or all units have to be bought by the same person?

jayeomoba:
Many thanks! You r truly awesome. Any info about my second question on how primary n secondary markets works. Some one please help

Primary market: You submit a request to the bank to bid at a certain rate for 91,182 or 364 days.
Secondary market: The bank(or someone else) has bought from the primary market and has decided to let go. You can buy from the bank at the rate the person got it and will get profit for the remaining number of days to maturity.

Nnamz:
Is it a coincidence that my girlfriend's name is Ife and I sometimes call her Ife love and here the handle of thelovely lady answering my question is Ifelove. Haha

Haha... I am a guy

Nnamz:
So what exactly is the difference between the primary and secondary market, in terms of rate?

Primary: You choose your rate when you bid.
Secondary: The bank/investment house has gotten the bills from the primary market at certain rates. When you want to purchase it from them you buy at the rates they have already i.e. You know beforehand the exact rate you are getting.
Any of the rates may be higher depending on some factors.

Nnamz:
Thanks for your response. So when would a customer pick their own rate? On Zenith Bank Treasury bills form you can either go with the bank bid rate, or the customer bid rate, and enter your preferred rate under this customer bid rate.

That would be for primary markets. In that case you decide the rate you want for the next auction. If the rate you choose is less than the rate the CBN is ready to buy your bid is successful.

...

CrazyRichNig:
Please help

Which bank? Did you select invest with interest?

Aim07:
thanks I understand you very well, but 105k was deducted from my account without any upfront payment of interest. what does that indicate?

I think it has something to do with the fact that you ticked "invest with interest". You can confirm from the bank when you go for your certificate.

awesomeJ:
What I mean is:
When you go the bank tomorrow, you won't have to bid as you will be buying from the secondary market. Bids only happen at the primary market auctions, the next of which is scheduled for this week's Wednesday.

Except, what you meant in your original post is that you're going to place a bid/an instruction tomorrow for the upcoming Wednesday auction.

If that's the case, then kindly forgive my taking your post out of context. It must have been that phrase " to buy T-bills tomorrow"

Okay, I understand now. Thank you very much.

awesomeJ:
Will you be bidding tomorrow? No you won't.

The available rates will be shown to you, 13% may be hard to come by, but you should get above 12.5% for tenors above 180days sir.

Wow.... Thanks.
Please I don't understand what you mean by I won't be bidding tomorrow. Do you mean if I go tomorrow, I will still need to go on Wednesday? Can you please send more light on the issue?

I would be going to the bank tomorrow to purchase T-bills. Do you think that a bid of 13% will be successful based on recent rates?

The application form I downloaded from the website suggest s that one has to be a university graduate to apply. How true is this?

GODAKPAN:
ANY DAY FROM NOW BUT NOT LESS THAN 48HRS BEFORE DDAY

Thank you

GODAKPAN:
TO PARTAKE, YOU MUST HAVE DECLARED INTEREST ATLEAST 24HRS EARLIER. DEDUCTIONS FROM YOUR ACCOUNT MUST HAVE BEEN DONE BEFORE ACTUAL TRADING.

Thank you. When am I supposed to go back?

Damolaskynov:
All,

Please find below the results of today's bidding as published on the CBN Website

Government Securities
Auction Date 4/4/2018
Security Type NTB
Tenor 91
Auction No 04-04-2018 - 91 Day
Auction Primary Market
Maturity Date 7/5/2018
Total Subscription 9974.9
Total Successful 9520.12
Range Bid 11.5000 - 13.0000
Successful Bid Rates 11.5000 - 11.7500
Description Issue
Rate 11.75
True Yield 12.1046
Amount Offered (mn) 9520.12

Auction Date 4/4/2018
Security Type NTB
Tenor 182
Auction No 04-04-2018 - 182 Day
Auction Primary Market
Maturity Date 10/4/2018
Total Subscription 20422.69
Total Successful 17600.58
Range Bid 12.7000 - 14.1500
Successful Bid Rates 12.7000 - 12.7000
Description Issue
Rate 12.7
True Yield 13.5586
Amount Offered (mn) 47600.58

Auction Date 4/4/2018
Security Type NTB
Tenor 364
Auction No 04-04-2018 - 364 Day
Auction Primary Market
Maturity Date 4/4/2019
Total Subscription 173915.87
Total Successful 68080.46
Range Bid 12.0000 - 18.4000
Successful Bid Rates 12.0000 - 13.0422
Description Issue
Rate 13.0422
True Yield 14.9921
Amount Offered (mn) 38080.46


Over to the gurus in the house to analyse further...

Concerning this date, I was in UBA yesterday to purchase TBills and the person I met asked me to come back in two weeks only for me to discover that the bidding was done today. I want to assume that bidding is done every two weeks. Is it that there was an oversight or the banker wanted to stop me from buying? What do you think should be my next course of action?

alphatron:
pls help me check for 85763002AC and 85756252HG thanks

266 and 262 respectively

opalk:
85850314GD
pls help me

Total Score:252