₦airaland Forum

Just2endowed2:
Still open bro just that rate had drop, due to high in demand

Tbill that is prorated, is that one Tbills? Smh

OgogoroFreak:
Tbills is closed for individuals for now. Buhari want make people suffer till further notice.

What else do you want us to discuss in tbills again?

Lol. I see am like that

uboma:
For your info, I do not know healthserve outside this forum.

Be cautious with whoever you enter into business deals with.

@ healthserve, desist from quoting me!

Even if na 2 naira, e no go drop. I made my money whether it’s 100 naira or 50k, I like am like kilode. “Dog wey wan chop lion”...I Dey laugh the guy

healthserve:
Who ask for your money olodo. Your 5 Million abi na 10 million dey shark you. Abi fellow Warrite.

Disadvantage of S.M sizing people up and stereotyping people who could be bugger than a person's lineage.


Abeg shift bro.


Wan see real life GiG not digital B.S come site physical. Foundational process has been laid for massive mega project. Been rolling back green pips back to you for years. Your coins can't make me need you bra. Peace and Shift

Go research good PAMM with strong account management and excellent risk management and invest your funds.

I'm versed beyond what you can ever imagine amigo

Thank you sir. Lol

healthserve:
You swear this?

Cause I've got a 25-40m Gig going down already on the burner. Will you hold on to this bargain so we can start the challenge?

Cc Uboma

How will you guarantee my capital? Will you give me a document of a property worth my capital? I no Dey for word of mouth.

chigo4u:
Why not try dollar investments with stanbic. Their dollar fund is cool. I’ll soon be moving all my dollar to that.
I think Buhari is the one holding dollar rate as it is because all these cbn policies should be telling on the dollar but yet dollar has been stable. Remember Buhari promised to make dollar = naira so I think he’s the kind of person that will do anything to wage dollar rate.

What is cost of transferring like $3k dollars to stanbic investment? And how is the rate like?

healthserve:
Invest in real economy boss

Show me the one you have invested in and making profits. Let me give you my money, we sign agreement that my capital is guaranteed and my interest will be 10% annually (after tax), then I will invest with you.

I hope the quarrel is over. Ok let’s talk about investments. Now that Banks are prorating ppls investments, the next plan is to invest in bonds. So which bonds is onboard?

Another series of quarrels is about to erupt.���

While CBN are tiding up, let me tidy my other investments b4 Tbills resurrect again.

freeman67:
Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

I think I was one of the very first persons to use the new stanbic Tbill form- early this month, I submitted for secondary market and was rejected due to the fact that they just released the form. So I was sent the new form.

oludy:
You could try mopping up with mutual funds. A bit more returns than leaving funds in your bank account i believe?

Yeah was considering that as well. Thanks

This is why I mentioned earlier that diversifying investment is the best. Now with the non-availability of secondary market, I have to leave my money in my account for another 80 days so I can mop up. No one knows when we are going to wake up from this CBN adjustment. It might even get worse.���

Boyhood:
But at the end of the financial year, you are paid dividend on the 500k you kept/as seen in your account right? If the dividend is up to 10% of the 500k then you have nothing to lose but if it's not, then the interest on the 1m loan can not be said to be 20% but rather lower than that, though more than the 10% perceived by your colleagues.

Don’t even talk about dividends. Thats another story for another day. When you don’t have financial education these FIs will play smart with you.

olujaidi:
How? Explain your reasoning with figures

I have 500k savings and I need to borrow another 500k. Instead my 500k is given back to me @10% interest and another 500k @10% interest. The smartness there is that digitally you will be seeing ur 500k in ur account which you cannot touch until you have paid the debt completely. They argue that it is in the form of collateral

But in actual sense, the true collateral is tied to ur benefits. The company will pay cooperative first b4 they give you what is left, if you decide to leave the company.

ahiboilandgas:
48 percent that arm robbery

Smartness- but as a knowledgeable guy in finance, you can outsmart them by not falling for it.

The terms were stated clearly 4% per month. So those that are not smart would look at only the 4% not knowing that they are paying 48% per annum(4% * 12months).

The same thing that happens in the cooperative at my place of work. The interest is 10%. But if you want to borrow 1million, you have to have 500k saved in the cooperative. So the 10% is charged on the 1 million you borrowed and you can’t touch the 500k you’ve saved until you pay the 1 million naira completely.

I was trying to educate my colleagues that the interest is actually 20%.

nofundforme:
What goes around comes around. Don't worry, karma is there do the work.

No fund for you is enough karma - I can see you are talking from experience.

Serious people pls discus how CBN action take affect us jare. This is Investment section not religious section abeg.

nofundforme:
it is a crime. Call a spade a spade. Are u into such??

Yes, please come and arrest me! Lol ( No fund for you)

chigo4u:
Is it not only about debtors?

I saw this link and was wondering what it means when they say individual.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwi6grGghLrlAhVQKVAKHdFECzYQFjAAegQIARAB&url=https%3A%2F%2Fwww.pulse.ng%2Fbi%2Ffinance%2Fcbn-bars-individuals-and-local-corporates-from-buying-omo-bills%2Fzt3g8hw&usg=AOvVaw3wLxvCiCM5e-GAuCytasOF

ahiboilandgas:
it not for us small players ...omo auction na for big players,financial company etc

Small players you mean to the tune of how much exactly?
Can some in this platform with a capital of 1 billion naira still invest in Treasury bill?

Am waiting on discussions regarding the new CBN letters about individual and domestic Coporate bodies not investing in Tbills- what’s the meaning, the way forward for us on this platform?

chigo4u:
But they are still paying subsidy and people are still cashing out lol.

And the righteous ones are shouting in their drowning voices-“it’s a crime!!!”

ahiboilandgas:
if I get the agric loan at 6 percent I go use am buy tb 12.5 ..i was also processing a huge morgate loan at 7 percent and my mind they bond at 14.5 God know I can't come kill my self i will not even buy truck

You see��� lolllll

I tot we have forgotten about this issue? Oh I see, some are just waking up.
Ahiboilandgas we have gone way pass this point. Leave this issue, if you think it’s a crime just relax CBN will prosecute offenders. Shikenna. Can we rest now?
All we should be discussing is this new letters CBN is dishing up and down because that’s the essence of this platform. If we are stopped from investing then I don’t see a reason for this platform- This should be the mean concern on this platform. Or his anybody here a debtor as regards the agric loans?

ahiboilandgas:
Let try to make our point clear ,not argue to win like kids but to impact clear knowledge and understanding ...am with team a that it a crime to divert grant meant for agric or mortgage to buy t.b.

Your opinion though- not bidding on anyone.

This is the reason I was stressing it here to someone that one needs to diversify, otherwise policy will just come one day and end your projections.

All these letters CBN is pouring in everyday is just a sign that they fear people will still look for loopholes- further stating that they are really handicapped when it comes to the issue of legalizing these policies.

Back to Tbills discussion. Now that CBN has started blocking some people from investing in our precious Tbill. Should we hope for better days ahead?

Wickedtruths:
But the law against diversion of agric loans isn't explicit until they write it in your native language, abi?

You said if it was a crime, they'll be arrested. I pointed out examples of narcotics and traffic offences. Offenders aren't deterred.

Has anybody been arrested for this? Or have you seen any instance where the person gave bribe to prevent him being prosecuted?

chigo4u:
You always end up confusing yourself because to be frank you don’t have any point, you have left the main issue now to talk about people who couldn’t repay their loans

I tire for the guy ooo.

Wickedtruths:
Why did you stop? You should have continued so that you can test the regulations na.

As at when you engaged in that act, there was no regulation against that act.
As at then /when the Anchor Borrowers Scheme was established in 2016, there have been regulations against diversion.

The same way the regulatory body put in rules against that act is the same way the regulatory body of the Anchor Borrowers Scheme put in rules to stop people like you from diverting funds.

Are you reading people’s comment at all, or you are just blinded with your own side of the discus. This thing was quietly going on for years until it was invaded nation wide- that was when it became immoral or illegal according to you. My point is if few people had continued doing it and govt was getting a sizable tax, they won’t revise any shit. Same with this topic we are discussing. They should stop blocking people from investing in Tbill and arrest them instead, that’s when it becomes illegal. Pls try and understand other people’s view.

igbizen:
If you don’t know, in this country there are many loopholes that the high and mighty are enjoying. When the public discovers it, it becomes illegal or immoral.

I will give you an example: for many years people have been enjoying voluntary contributions to PFA; You are encouraged to make a voluntary contribution to your Pension and it will reduce the tax you pay to the govt. The loophole there was that you can withdraw from it. So what many were doing then was if I earn 200k b4 tax, I may end up paying 50k to tax. But if I make a voluntary contribution to my pension of like 180k, I may end up paying 1k as tax.

So what I personally Experienced as an employee, was when I joined the multitude who discovered this late, was that instead of earning 150k. I will contribute 190k and pay 200naira tax get paid 9.8k into my salary account. And in just a week I will go back to my PFA and withdraw the entire 190k.

Nobody was prosecuted for this. Because everybody started doing it, the govt had to revise the policy just like they are doing now with this Tbill stuff.

So all these illegal or immoral stuff is rubbish.

All over the world, policies are made for the RICH, AND BY THE RICH only. As a smart guy, you only Play by the rule of the RICH and stop shouting like robbin hood.