₦airaland Forum

janga:
bidding urself at close to stop rate might possible fail and u hav to wait till next primary auction, its better to let them bid for u using their bank rate

I agree with Janga that allowing a bank bid for you, barring their bid failing (a rare occurrence), guarantees you a successful investment at a rate they would only be different from the CBN's stop rate in small amounts of the fractions (of course you would have to pitch your tent with a bank that historically delivers such rates).

A risk involved in biding for yourself is that you have only previous stop rates (and maybe some news reports on TB-related matters) to guide you, unless you have something else that will further improve the likelihood that you bid rate will be closer or equal to the next stop rate.

In summary, there is the high risk of:
- making great gain should your bid rate be higher than your bank's, or
- making less gain should your bid rate be less than your bank's, or
- gaining nothing and losing time should your bid rate be higher that the CBN's eventual stop rate and having to wait another two weeks

speak2lift:
Sighs.

1) https://sterlingbankng.com/personal/investment/

2) https://techpoint.africa/2018/05/31/introducing-i-invest-west-africas-first-treasury-bills-app/

3) https://nairametrics.com/2018/09/28/what-you-should-know-about-i-invest-the-first-treasury-bills-app-in-west-africa/

4) https://www.dailytrust.com.ng/sterling-bank-launches-new-mobile-app-i-invest.html

5) https://www.bellanaija.com/2018/06/100kisenough-download-i-invest-app/


Hi bro, I hope this is proof enough. These are excerpts from credible sources and the banks website itself. Also on the Techpoint page, it is explicitly stated that this solution is being regulated by Security and Exchange Commission of Nigeria.


If all these aren't convincing enough, then I guess I will just have to rest my case. I am not a marketer for sterling bank. I am simply trying to lay the facts right and to dispel the comparison between this solution (which explicitly states that the sole purpose is for customers interested in Treasury Bills) and MMM(which from the onset had zero business model).


Please do not let us deviate the thread. I think enough has been said already.

Cheers

I am mostly concerned about understanding how it works.
So this is what I understand from visiting the link someone shared a few pages earlier:
For a TB transaction to happen,
a customer has to move funds from whatever accounts they may have with whichever banks to an account (a kind of wallet) with the app,
the app managers present the customer with the available tenors and their rates and locks in the customer's funds with their choice, and
Sterling bank then executes the TB instructions of the app manager.

The was I see it is that the customer does not deal directly with the bank.

festusbiz:
Gud morning everyone. I would like to invest in the treasury bill. Pls. I need enlightenment on how to go about it. I have read tru this tread but still dont understand at all.

I find this very hard to believe. Nevertheless, I believe that you must have understood some things. Kindly share what you understood.

Acidosis:
Please someone should help me understand this platform. Seems Sterling bank is the new ponzi scheme in town.

https://www.doubble.ng/#/

The way I see this, the contributor makes payment every month for 3 or 5 years (depending on the investment plan chosen) without getting anything in return. The bank then begins paying the receivable sum (which has interest already factored in) to the recipient from the 4th or 6th year (of course, depending on the investment plan chosen).
The Doubble Lump Sum plan is different in only one area - total contribution is made one time instead of monthly. Still payout will only begin in the 6th year.

I cannot bear to send money somewhere and not get anything in return within a year, talk more of 3 or 5 years.

Omonigeriarere:
I don't think that bank is serious about TB. In fact, all my monies would be moved out of GTB soonest.

That's my intention too

feelamong:
Been waiting for some info before sticking out my neck but it doesnt seem to want to come...

I got an offer at the secondary market from an Investment firm that bought via OMO and was willing to sell 199days at 17.6%

as for the auction....I will predict as follows

91 days --- 14.35%

182 days ----17%

364 days 17.5%


the amount of foreign inflow for this Auction is enormous.....

I will advise all to play safe and not to be too bullish..

http://www.thisdaylive.com/index.php/2016/08/30/external-reserves-rise-by-595m-as-offshore-investors-stake-327m-on-bonds/

Happy Investing

feelamong, Thanks for the info, advice, and help you give on this thread which you started.

Please what is OMO and how does it affect NTB?

tormjerry:
I'm new to this TBills.ill like to ask some questions
Does anyone have an idea about about FBN rate?
Also, does GTB accept below #1M for T Bills?
About the issuance certificate\letter,will it be issued immediately or I'll have to go back to the bank for it?

While I do not know anything about FBN rate, I know something about TBills in GTB.
As at mid 2015 I invested 500K in TBill having been told by a branch of the bank in Lagos that they'd accept nothing less than that amount.
When I asked whether they issued certificates their response was that they don't but I will be notified of the transaction if successful.

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.

Lately GT Bank have been stressing me and have made investments having tenors of 97 and 178 days.
Though I did not specify a stop rate, I asked that my bid to be done in the primary market. Yet I got 12.97% for 97 days when I was expected their rate for 91 days (I specified the tenor). The CBN stop rate turned out to be 14.14%.
I had to get to the bottom of it. One absurd, standout statement my account officer made was that the bank was not successful in the primary market. How could that happen to GT bank, and in Nigeria?
Another shocking thing he said was that he invested my funds in the secondary market because he knows that customers' only concern is to have their money invested, they can't wait for two weeks. I let him know that I'm certainly not that kind of customer. Haste and desperation are not my thing!

I've decided to put in more and clear details and instructions (rates, tenor, primary market, and what to do if they decide not to get me exactly what I'd asked for) in my next application (if I still invest via GT bank) and to follow them up with phone calls (too much stress!) once my application has been sent my account officer.

I'm leaning towards porting to Stanbic IBTC (I prefer forms to letters, always!) or any other primary dealer. I've got 'till end of September.

Hello guys

Can one sell treasury bills that were bought in the secondary market?

How soon can treasury bills bought in the secondary market be sold?

hiteelong:
A friend called me yesterday that he saw an advert of NNPC 2015 recruitment at www.2nigeria.com. I sent my CV yesterday to the email provided on the site. I received a message dis morning that says:

"Dear Applicant,your resume and request application has been observed and processed,and you have been stated for listing and recruitment. Contact the human resource manager ENG Femi Ola on *********** for form purchase info and interview details.Be duly noted that job vacancy is only stated in Nigeria and applicants from outer countries will be asked to relocate for job opportunity. Any form of indiscipline is not tolerated as management will not be held responsible for disapproval of application due to inability to relocate to Nigeria. An agreement will be signed in your application form when purchased form licensed authority.

Signed:management
Nigerian National Petroleum Corporation"

pls can any confirm the authenticity of this before I proceed further. God bless

Do not proceed further because NNPC would not ask you to purchase any forms, nor will you be asked to contact any named individual. Above all, NNPC recruitment is handled by Phillips Consulting, and it has been so for a while now.

ClintonNzedimma:
dont you see the stupidity of Nigerian Telecome providers?
I know of bb dedicated servers that help to compress bandwidth.
On top of the dedicated servers, Nigerian networks will still charge cheaper for blackberry like 1k for 3GB yet the Android and iOs that consumes much data and has no bandwidth compressing algorithm will be charged at 2k for 2GB.
I dont know if you are getting my point

The BB dedicated servers are not owned/managed by the TelCos hence they (the TelCos) can/should charge less. So it ain't stupid.

We do not have to completely fill all the forms before we arrive. Leave blank the sections for which you need help, more information, etc. They said they'd assist us.

NAPTIN said the fitness certificate must come from a government hospital. Since doctors are on strike that requirement is on hold.

Cheers!

benaikodon: This is ain't fair to #TeamLagos at all.

Not all#TeamOutsideLagos got the 'alawi'. I wasn't even asked to send my bank details.
But Sahara Power and I are cool.

Please guys what is this admission letter?

Has anyone received the package/mail?

santos4eva: Have u tried calling them, coz this is like medicine after death? Reply ASAP

I did not have that problem. But I had called them on that number concerning another matter and I was asked to send a mail.

For those with bouncing mails you could tell Sahara Group about the problem (you could, in addition, send a screenshot like someone posted earlier) in a mail to recruiter@sahara-group.com.
You could also call Sahara Group on this number 012134121 so they could investigate and assist in rectifying the problem.

JimmyAlade: Please anyone the address of the training venue in Surulere and ow to get there from iyanapaja Please guys I need answers God bless us all, one love, one Sahara

I'm almost certain (or rather seriously hoping) that clear and detailed information (on their assistance with accommodation, venue of training, dress code, etc) will be contained in the mail carrying our "offer letter and additional information". But I wish it came sooner because I have a feeling that I'd need to do a number of things before resuming. I don't want avoidable pressure.

blackknyte: FOR THOSE REDIRECTED TO IKEDC NOT BASED IN LAGOS

During those initial calls b Mr Yomi he said they (Sahara/ikedc) don't offer accommodation buh they would help us get one. My question is isn't it high time we took him up on that offer? How do we go about it?

I think we'd get more information when we open the package containing our "offer letter and additional information". I hope it arrives before weekend.

It seems that the various companies have the responsibility of contacting their recruits (irrespective of the recruits preference) after Sahara Group had sent the ID Card slip email of July 7.

nanizle: that's interesting. okay. nice...

I thought someone said it came from a yahoo mail.

soldierAnt's mail was from a yahoo account.

The information in rurubabe's mail is essentially the same as that in soldierAnt's plus that from the phone call.

nanizle: that's interesting. okay. nice...

I thought someone said it came from a yahoo mail.

soldierAnt's mail was from a yahoo account.

What are the characteristics of an employment scam?

For those who have not filled the ID form, I confirmed from our caller the following:
Designation: GEP 2014
Date of Employment: August 1, 2014
Company: IKEDC

He said that we'd get more information via email.

Wow! NITDA has already conducted a test?! Yet I've been expecting an invite. It's well.