₦airaland Forum

feelamong:
Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%



How many people got rates close to this from their bankers

Mr @feelamong, thanks for usual insight. Here's my concern, my investment house quoted me a charge of 0.5% and I don't know if that is the norm. I contacted them and told them I'd like to bid for 364days at 18.35% but I was told that I have two options for my rate(Gross or Net). That is, Gross would mean their own 0.5% charge included in my rate, if successful, I would get 17.85% OR Net would me they would add their own 0.5% charge to my 18.35% to make it 18.85%(which ofcourse have no chance of success at the auction with inflation rate dropping.

At the end of the day, I had no choice than to go with their own rate but I told the account officer I want nothing short of 18% atleast. Lo and behold, he called me today to tell me I got 17.8% blah blah inflation blah blah. I somehow feel hard done, and thought to share my experience with our gurus in the house and hear what other investors have to say on this as well.

How does other investment houses treat you investors with them in terms of rate and all. And specifically, how does Fidelity securities treat you my oga @feelamong.

Thanks and God bless.

feelamong:
Please lets not derail this thread. I cannot go into details here! This thread is for Treasury Bills.

when am chanced later in the day I would open a thread for Bitcoins Investments.

but you can PM on this...

@feelamong, please don't forget to share the link to the BITCOIN thread on here so we can follow. Thanks for the help always.

jayfierce:
Happy new year sir! Honestly don't know much about that but did a quick search and it appears you can use SAR. You could ask this question in the UK visa thread. Am sure they will help you better.

Ok thanks much sir.

jayfierce:
I used gcmsnow.com. If you've got someone in Canada who could help you then it would be cheaper.

@jayfierce, happy new year sir. Please I have a quick question..... As gcms notes is for Canada, what is for UK? Any idea please? I found something like SAR - "Subject Access Request" and I'm not so sure. Thanks for your help.

gazal05:
Hi fellow nairalanders i have been offered an application for PR in canada and the owner of the cafe i did it don't have much knowledge of its processing.
please gurus of these trend your advice are welcome

@gazal05, can you please make your question clearer? What do you mean by the owner of the cafe where you did it? Thanks.

MrTour:
Mine is even worse off compared to yours, one of their incompetent staff debited my account for no reason and made me lose about 50K.

BUT

In the last couple of months I made N1m through their competent team's advice when all other Banks refused to advice wisely. If you look closer at what you consider evil you may discover some pretty damn good thing about it

They rectified it after I did what I advised you earlier, they are good at problem solving, it took about two weeks for mine to be completely resolved but I knew within 48 hours it was an incompetent person's mistake.

@MrTour, could you please share an idea of what this team advice is? Information is KEY. Help me(us) grow too. Incase its not ok to divulge on here and to not deviate from the original thread, you can PM me. Thanks and God bless.

Modele35:
Thanks to everyone who answered my question. I deeply appreciate it. i have decided to d surgery immediately in Naija so as not to waste time. Thank you all. God bless.

God will make it a total success IJN.

zeus001:
Congrats! God is good.

Thanks, and congrats to you too. God is good always.

boldinc:
I only realized later on, that the site directs you to the main seller of the ticket. They are only a comparing ticket site and I guess they automatically convert with official bank rate, hence the fees shown in Naira.

But you can still pay at the other website tho as long as your card has no restrictions or respective limits. It should be safe...

Or just go to the airline's website directly.

@boldinc, thanks for your reply. But in your own stance, even though you were redirected to the main seller website, were you still able to pay with a Naira card in Naira? Reason I asked this is because I'm using a naira mastercard and the amount I'm needing to pay is above the 100usd/month cap set by the CBN. Infact I want to pay for a trip for 2passengers which in calculation is about 170k, but stated as 500usd+ on the mairnseller website. Please any help on how I can go about purchasing this ticket with my naira mastercard directly?

semilore12:
Yes it is the same access visa card. I tried a friend's access mastercard but it failed (I guess she needs to activate it for such transactions) so i paid with the visa and it was successful.....and yes I used it for the local flight within US

Thanks @semilore12. God bless.

semilore12:
Ticket is $120, Access bank does 200 monthly so i tried to pay with access bank card.


quote author=chloe7 post=51639680]
GTB does $100 max a month, how much is the ticket you were tryna purchase maybe the price no gree card work?

@semilore12 please is the access bank card you mentioned the normal access bank visa card? And also, the american airline ticket you got, is it for local flights within the US? Thank you.

Pls did anyone bid through Zenith bank? And have you been debited yet? I bidded 17% for 182 days and I'm yet to get any debit alert. I just hope.........

Humility01:
Dear all,

You guys have being doing wonderful job here. I say thank you for helping one another.

I have being following this topic for some time now but this is my first time of posting a comment. My family was recently denied a Canadian visa. Reasons for refusal is "purpose of travel and travel history". Following the advice on this forum, I applied for the GCMS note and got it today. Surprisingly, the GCMS note of 24 pages pdf file that contains more of their internal codes. The main point for refusal was not still clear as the VO simply stated that
"Based on a review of the application and supporting documents and after considering the purpose of travel, travel history, financial status (earnings/savings), family ties both in Canada and homeland and the overall establishment of the applicant, I am not satisfied that the applicant is sufficiently established so as to motivate a timely departure. Refused."

About my application: I work in a bank at a middle management level. These are some of the documents submitted

* Application form
* Old passport containing used visas to UK, Dubai, France
* Current passport with valid but yet to be used US visa (the plan is to combine the trip to US and Canada)
* Hotel booking using booking.com
* Flight booking
* Employment letter dated back to 2007
* Promotion letters
* Letter of introduction from my employer indicating leave period and leave entitlement of about N2.8m
* Medical Insurance ID Card from HMO.
* Lagos State Tax clearance card
* Pension fund statement from IBTC
* Life Assurance letter from IGI
* Education support insurance for my kids from Mutual Benefit Insurance
* Statement of investments for my kids
* Mortgage letter (I took a mortgage from my bank to buy a property in Lekki). All mortgage documents included.
* Documents for landed property in Ikorodu and Ajah
* 6 months payslip
* Photocopy of staff ID Card.
* Bank statement of salary account and investment accounts worth more than N6m
* Letter of introduction from my kids' school
* However, I did not include travel itinerary but stated places we wanted to visit in the SOP letter.

Honestly, I am surprised at their refusal because I have never been refused a visa before. One thing that is very clear from the GCMS note is that they share data with the US.

Just decided to share the story of my application. I hope to reapply again when I come back from the US.

@Humility01 I honestly feel for you on this application cos it looks quite detailed and worthy. Maybe and just maybe they've reached or very near their quota for the year as for number of visas issued to this country. I'm of the believe that they have a number they are working with on number of visas granted to each foreign country.

Anyways, I think you should maybe work on and improve the financial aspect of your application. As many have said, our naira is fast losing ground and may be given serious consideration when making their decision. In my opinion, every other aspect of your application looks good except of course if there are concerns on ur previous travels with overstay and all.

In addition, you may apply from when you're already in the US as well, at least someone on here(travelpoint) said he did that and it worked for him. You'll have to print your statement of account with other supporting docs and hold with you on your trip to the US. I'm just thinking since you must have purchased your travel tickets together with that of your family, it will have an effect on your statement of account thus reduce the account stamina. I'm just thinking outside the box here, maybe you should go to the US, come back, take your time, and refire. OR, you could give it a try from within the US, the choice is yours. But if I were you, I may lean more towards going to the US, return in a timely manner(say after 2weeks), take my time to work on our account(husband and wife) and other areas of the application, then re-apply. Wish you and fam the very best in all.

PETERiCHY:
From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.



With the above economic outlook I have decide to peg my discount rate for 364days @20% even if it didn't fly tommorrow it will definitely fly in the nearest future.

I'm not in a haste to cage my fund.

*ThE OcToPuS*

@feelamong @PETERiCHY I would love to participate in the next auction in 2days time and need to place my bid latest tomorrow morning. Pls what rate would you advice for a 182days tenure. Thanks in anticipation.

@Vuitton007


@Vuitton007 Now if everyone goes private with their concerns, would we learn anything? We all are anonymous with our account handles so there's nothing to be shy about. Nobody knows anyone. Please feel free to post your concerns on here and you never know who you'd be helping. Thanks for understanding.

feelamong:
Since your account has been debited...it means your funds have been invested in the Treasury Bills for you.

Ask them for your Investment Letter to see the details (Rate, tenor, etc)

@feelamong, @jesusbabygirl No, they have not invested the funds yet. That's how First bank operates. The moment you place a bid with them, they debit you that exact amount just to keep intact for the coming auction. If your bid is successful, then all good. But if not successful, then they will credit you back. Thats their own system.

Boladami:
In case anyone needs dollar in the US especially Houston. I have at a good rate.

May I ask how much pls?

jinnyz:
@ soletar

Me & my husby applied on 9th May 2016 and got our visa 7th June 2016 to our greatest suprise, we taught it was going to take longer based on what i have been reading. It was paper application via Abuja office. First time applying i was given 5yrs (jst had my passport renewed), my husby got 1 yr guess bec his passport was expiring next year. I think your location should determine the method of application you want to use. If you are residing outside Lagos or Abuja i will advice u do paper application bec even if u do online u still need to go to the visa centre and do ur biometrics and when your visa have been approved you will still go and submit it.

Hope this helps.

@jinnyz, I think more info on documents submitted and your previous travel history provided in the application will help some more. Thanks.

drafrican:
I got a dec ticket for 391,000

@drafrican, what airline pls? And to what destination? Thank you.

jaypisces:
Please what is the implication of overstaying in the US after your Visa expiration and how does it affect subsequent visa renewal and visits

Here you go..

mummyf:
hello@ manlikegb, did you include your tax records in your application?

@house, is it absolutely necessary to include your tax records if applying as a business man?

@mummyf, no I did not.

Kamymich:
This forum has been so helpful thanks everyone
.please I intend to apply for a tourist visa with my 2kids.1 is American citizen.how best can I go about it.would want to do so this year.heard it will be so difficult from January. Here are my worries. 1 I have a company name is just registerd. Since its too fresh can I use it?I'm into events planning and boutique services,my former office was a small one with no payslip,so I don't know how I can go about the payslip thing.that's why I want to apply as a business woman,again.I intend printing my statement of account which is reasonable though and I intended depositing about 3m before printing my statement of account. Must the cash be in my account during the processing period.cos I promised to return the money after 2 day's. After printing the statement. A lot to ask.help a confused sis. Do I still need a sponsors account.which is my hubby?I have a landed document in my maiden name.I have been to dubai twice.and America twice.with a current American visa,how else do I package myself,is online faster? And better?and please how long does it take. I have my marriage certificate.do i still need to apply through an agent? Thanks and GOD bless us all?

"that's why I want to apply as a business woman,again." Please what do you mean by the highlighted statement? Have you applied for canada visa as business woman before?

However, @Jayfierce has very much said it all, I think it will be important that your husband be your sponsor. That should reduce the attention on your own statement of account a little bit and should be a strong statement for home tie too. But your husband should be prepared to provide supporting documentations as the sponsor too including bank statements and availability of funds to cover the purpose of the trip. As for the landed document in your maiden name, did you make a newspaper publication when you switched from your maiden to husband's? If so, I think you should include that in your application too. Overall, take your time and prepare well. Very important.

Myself and my spouse are first time applicants, we did paper route and and got our passports back yesterday just after almost 4wks with 1 year approved visa each. How I wish for more as our passports still have validity of up to 3 and 4 years respectively. I'm sure they have their reason for the decision and I'm taking nothing for granted, I thank God. Below is a list of all documents included in our application. I have learnt a lot from this thread and I hope our transcript helps someone too.

DOCUMENTS SUBMITTED: (tried following @jayfierce’s well composed format)

Travel History:
1. Photocopies of previous travels on expired passport which include 3 expired visas for South Africa with 4 entry and exit stamps, expired 6months UK visa used once, Dubai entry and exit stamps(once), Maldives entry and exit stamps(once).
2. SPOUSE: Photocopies of Dubai entry and exit stamps(3 times), Maldives entry and exit stamps(once).
3. Recent Passport with valid US visa used once for BOTH of us to expire later next year.

Proof of Means of Financial Support:
1. My company CAC documents.
2. Letter of Introduction prepared by my secretary on company letterhead, signed and stamped with company seal.
3. Self Introduction and Plan Itinerary on company letterhead as well(covers purpose of travel as vacationing and also mentioned a few places we’d love to visit.
4. Company statement of account for 9 months. With bank introduction letter stating my name as sole signatory to the account.
5. My personal statement of account for 6 months.
6. Wife's Employment letter/Confirmation of appointment.
7. Wife's six months payslip & 6 months statement of salary account.
8. Joint statement of account for 6 months.
9. CSCS statement & Treasury Bills investment letter.

NOTE: Perhaps some of the above counts for "Home Ties".

Purpose of Travel:
1. Vacation, was mentioned in the "Self Introduction” letter above.
2. Trip itinerary.
3. Flight itinerary(photocopy of email from agent).
4. Hotel booking(booked by agent which got me sweating profusely when I received an email from Expedia that its been cancelled in the middle of our application processing, thanks @jayfierce & @awelekiti for helping a brother relax and keep calm).

Other documents included:
1. Marriage certificate.
2. Wife’s sworn affidavit of change of name.
3. Newspaper publication of wife's change of name page.

And most importantly, PRAYER.

Best of luck to all.

Nnystc:
Hello folks,
My Mallam tells me that I can purchase dollars today for $410...
Effects of the new POTUS Situation may be a lucky break for the mamas traveling this weekend...

In other matters, Part 5 don already reach page 17?? Wow!

On the guests and hosts issue, I 'kent' even deal #speechless

@Nnystc, please where is your mallam located please? City and State....

jayfierce:
Your documentation is solid. There's a reason for the one year visa and am sure it's in the case notes of the Visa Officer. Your cousin could help you retrieve it if you want.

@jayfierce, you mean its possible to request gcms notes even after getting application approved. Please enlighten me.

DemiDabbs:
I could always go back to the US if i wanted to. But that isn't the case now. As for home ties, i don't think i have any strong ties asides the fact that i live with my parents and that is why i was asking what else would suffice as 'home ties' as i have no land or property.
What explanation do you suggest i give? Because i just typed out the honest truth earlier in the reasons i stayed 5 months.
Due to these reasons, i came to you guys for help. Thank you.

Perhaps if you have "fixed deposit investments" with a bank OR "Investments in Nigerian Treasury bills or bond" OR equities(stock holder), such could suffice too. But then I believe the volume of these investments may determine how they regard it to stand for you as home ties, just my opinion. Gurus in the house can add or remove from the above listed but it works. I stand to be corrected though.

awelekiti:
Wow! You must wash it for me,when I come back ooooo! It's not how far that really matters, but how well. Just reading this now. I'm not in town....in ontario participating in the African Young Entrepreneur's summit....remember the free-to-attend summit? Congrats! If you like, go the online route again in 2021, na one year your visa application go spend for Accra IRCC hand,lol. I'm so happy for you.

@awelekiti, please what is this "African Young Entrepreneur's summit" all about. Advantages and Disadvantages(if any). Thanks.

jayfierce:
Sorry I cancelled before the 3 days deadline not on the 3rd. Had to dig up my emails to confirm. I cancelled almost two months before I got a decision on 27th of September 2016. My planned trip was from August 5th to 13th 2016. The letter from my employer also says same.

Thing is, I had used my main vacation for a trip to the US. I suspected this would raise a brow. So I explained in the letter that my job position allows me time to travel in between.

I didn't do anything after I cancelled my booking. I left it like that because I expect them to be intelligent enough to realise that since the visa has not been issued close to when I needed it, the normal thing is to cancel.

Very brilliant boss.

jayfierce:
Am sorry. It's painful. I learnt that pain from my inlaw. He works in a multinational company and felt it was enough. He also has a US Visa, 10 years UK visa and other extensive travel history. He was refused 4 times till I found out and explained that IRCC is not the same as Sheffield. They don't mess around with documentation. He repackaged and got the visa at the 5th try through paper route.

It's painful to be refused especially after 5 months of waiting. It is well my brother. Take heart.

I think we are forgetting to mention as well that you will need to work on your bank statement too especially the balance as at when you print the statement. The balance should atleast cover for the whole expenses of your trip. I think a low balance 200k may be the reason why "personal assets and financial situation" was ticked as a concern. Just my opinion.

RedReact:
Oga Manlikegb, put your mind at rest; hopefully IRCC won't contact them. How person wan take do when dem talk say make we no pay any fee until dem give person visa? No be to do free booking remain?

@RedReact Well said boss, thanks a lot.