₦airaland Forum

I used 12% and 220days for your 1.5M and got 108K.
Which is more realistic.
12/100 = 0.12
220/364 = 0.604
0.12*0.604*1500000 = #108720

Euchey:
PLease house how do I calculate the rate at which my tbills was sold. I bid for 1.5M for 6months. I got an upfront interest of 107k. @Gtb

Your bank probably did 200+days for you. More than 6 months and less than a year.

Bennycollins:
But come to think of it, what is the essence of building up money to the expense of your comfort? I am not saying one should not invest, but life is short. Except,of course you have made up your mind to sacrifice your present and stack-up fortunes for your children.

The question I asked myself was that driving a corolla rather than Benz ML350, does it spells less comfort or less "flashyness". there is a difference between wants and needs. I still club, drive and do every other things. But gone are those days you spend without thinking if it is a need or want. My friend you get the point.

ahiboilandgas:
but Nigeria current vp hold most of his asset in pounds around 900 k pounds in his asset declaration

The last time I check VP is not a business man. So is our politicians.
There are so many factors that will lead to the crash of dollars. People are becoming savings-oriented than spending.
I have a college who is suppose to travel on holiday next week, but on hearing that one of his colleagues had saved more than 120mill in treasury bills he has cancelled his trip and his considering adjusting his life style. Presently this is what we discuss in the office. Once PMS falls inline, so many things will begin to follow. See me way dey use ML350 (spending a lot on maintenance) I don downgrade to corolla because of this forum. We will all make this money here, I cant be wasting my money buying foreign things and big cars why people are making money here.

IHelp:
I-invest is all about Treasury Bills. This thread is also about Treasury Bills and you call it waste.

I call quarreling a waste of pages. Maybe you have not been following this thread. I know what am saying when it comes to the issue of I-invest app.

IHelp:
I don't totally agree with you on this. This is morr like a partnership or a subsidiary. Sterling have the information on their website. I-invest also contact you using sterling customer service line.

https://sterling.ng/personal/investment/

This has been discussed extensively in the previous pages. Who ever wants to use the I-invest app should go tru those pages. I know guys quarreled over I-invest app in about three pages. So just go back to those pages and make ur decision. Because if we allow this I-invest discussion here again it’s going to waste another four pages�loll

All these questions you people are asking have been answered in the previous pages. Just be patient and go tru it. I started T-bills just February 2019 (were I lock down at 14.9%) and I seem to know virtually everything. I have even commenced Eurobond negotiation with my bank stanbic (funds is in GTB). —all the info I got in this platform made me who I am today in T-bills investing. Please newbie if you are sincere to yourself about investing for your future, 700 pages is no big deal, please go tru it, and equip yourself, instead of waiting for someone to answer a question that is already in platform. When started I went tru about 600 pages patiently, even jolting down things as if I wanted to write exam. My account officer respect me because of the confidence I display when am talking to him about T-bills. Thanks guys for those 600 pages and still counting. Bdc is next inline for me.

mikeopara:
Dear gurus in the house, i really need advise on the below as i'm sure someone might have been in same situation.

I recently did a job and was paid in USD equivalent to 2.5m in naira.

i spoke with my account manager he said i should convert the USD to Naira and continue my investment in Tb, this he claims will be more profitable in the long run.

The other option will be to invest in stanbic dollar fund.

Kindly recommend.

Thanks.

If I were you,I will convert two-third to treasury bills I will invest the remaining dollars in dollar fund.

women with money and second wife....guys just be careful.

Am learning everyday. How I wish I got these information since 2010. Would have been in hundreds of millions by now. A lot of wasted years. Thank God all the same starting this year is my next best time. Following my plans religiously.

On Monday, I am definitely going to Stanbic to make the inquiry myself. USD must no longer sit idle.

chigo4u:
I just discovered stanbic ibtc has fixed deposit for US dollars/domiciliary account and my money has been lying idle in GTB ever since?

Anyone has an idea of this?

I need this information badly. funds just sitting down in GTB.

igbizen:
it's 25% not 40%. I do treasury bills and also do fixed deposit. and it's not 1-4%. You can negotiate with dem. money that I need to use at any time I put in fixed deposit and I negotiate the rate very well. I have a 2m that is on 9% for 90 days In Ecobank. I have four treasury bills worth 18mill in Stanbic. The lowest I have done in FD is 500k at 7.5 to 8%. Maybe am a very persuasive customer.

in short I plan to withdraw 500k from my FD next tomorrow. Then I will FD it again.��� at least it's better than leaving it in my savings account.

why I don't do treasury bills with money I intend to use at anytime, is because of the possibility of lossing wen rates go up and bank charges. at least with FD I know wat I face ìs not subjected to rates in the auction market.

Acidosis:
Out of the1-4% interest rate, the bank will deduct 10% as VAT and when you try to liquidate before (even a day before) maturity, you lose 40% of everything you've waited for

Banks are our greatest enemies. They do not love you as they claim, what they love is your deposit/potential deposit.

it's 25% not 40%. I do treasury bills and also do fixed deposit. and it's not 1-4%. You can negotiate with dem. money that I need to use at any time I put in fixed deposit and I negotiate the rate very well. I have a 2m that is on 9% for 90 days In Ecobank. I have four treasury bills worth 18mill in Stanbic. The lowest I have done in FD is 500k at 7.5 to 8%. Maybe am a very persuasive customer.

Happy night rest to you all.

Kirchhoff01:
No bank will give you that rate. I'm currently running a FD with. First Bank Nigeria @6.8%. I'm on monthly rollover

Ask questions before you say what you don't know. I just liquidated my 2M FD in ECOBANK at 8.5% and have fixed it again for 8.5%.
I plan on using the money at anytime that's why I didn't put in Tbills.

zohan101:
But sure there has to be some taxation by the Canadian government on such huge some transferred into Canada for such purpose.Please more explanation is needed, as this is something I intend doing in the nearest future..

He has guys who send naira to naija. So what he does is you pay the dollar to me in Canada, and I transfer the naira equivalent to the person in naija. He has been doing this for almost 15yrs. He worked here in naija while his family lived in Canada for 15yrs. now he has retired to Canada to take a small job so as to be with his family.

awesomeJ:
Maybe not as low as 2% though.
How about we weigh the pros and cons of having low rates on T-bills:

pros:
1. Lower debt service cost to the FG. Implying a lesser debt burden.
2. Lower finance cost to the CBN (OMO sales) implying more profits.
3. Lower amount of new cash created. CBN sold about 17 trn in OMO sales last year at an average YIELD of about 15%. That alone created 2.5 trillion of new money in the system. lower yields would imply lower amount created and then lower tendencies for high inflation.

4. Increased lending to the real sector, stimulating real sector growth and creating jobs. More ventures having access to finance also mean more industry competition. This has a positive effect on price stability and healthy inflation levels.

5-10: I RAN OUT, SO GUYS ADD YOURS!

CONS.
1. FPIs and banks are no longer much attracted. This makes
it harder to achieve exchange rate stability, especially given the current fundamentals of the economy most notably our high import dependence and low oil prices.

2. Lower or negative real returns to money manager and pension funds. This puts the survival of such industries at risk. Most pension funds in the country are heavily dependent of juicy interest earnings. same with those of us who get a substantial portion of our earnings as interest income.

3-10: ADD PLEASE!

so my biased opinion is that rates should stay at the 15% levels. 18% was desperate! But objectively, If reserves can climb up to $100bn dollars-enough to cover say 30months of imports, I'd say 8-12% is perfect.

I don't think that will be the case. Bad leadership would embezzle the excess money thereby leaving us the same way we are. The problem with our country is leadership not interest rate nor inflation.

HeliosHay:
Is it really worth it for someone outside of Nigeria to invest in T-Bill considering the Foreign exchange risk?

the money market abroad is not encouraging that's why. I have somebody who lives in Canada and left his retirement money (N200m) in Nigeria Tbill. He takes the interest every year to buy house in Canada (down payment).

bisiswag:
U guyz pls lets all be civil here and not derail dz awesome thread.

Neways todays stanbic rates,sec markt
48days - 9.6%
237days-12.4%
342days-12.15%

how can 237days have a higher ROI than 342days. I better keep my money. I smell foul play.

Hello all, I just started Tbills on the 13th of feb. I gave an instruction for the interest to be reinvested. I did 3mill for 364days, but was debited #2,999,680. later I was debited #1,840 for safe keep. How do I know what am entitled to at the end of 364days. please I need advice becos my target is to get to 100mill in 10years, with continuous top up. I also learnt the next bidding is on the 26th of Feb. I hope to do two million but I need to know what is happening to my first 3million. Thanks for your help.

Honda pilot 2010

Hello guys,
I changed my fuel pump and now my car can't rev above 2000rpm. what should I do?
Honda pilot 2010.

Hello house, if the battery to my w203 key is dead can it affect the starting of the car? My w203 has refused to start. The battery of my key died this morning.

weyreypey:
How's the AC now?

Is still the same and am in warri. My kasim mechanic says it is leaking somewhere. But I don't think its leaking. I think its more of a thermostat issue. At idling the ac is freezer chilling but at more than 40km/hr it cuts off and refuse to chill even wen u stop. Unless u turn off the engine and start it again.

Kewtt:
Find Mosbus

Mosbus--is it a part of the car or the name of somebody

MY ML350 4matic 2006 AC doesn't cool when am on the express but cools very well when am driving in my street 20km/hr. What do I do

My ML350 06 takes time before it starts. I mean it kicks for a long time b4 the engine starts. Sometimes I have to kick it twice. What could be wrong.

kingreign:
Na 911 tipper bottom plate?

Ml350 2006 4matic

My mechanic says my engine bottom plate is leaking. How much is the bottom plate?

Sorry P2187 and P2189