₦airaland Forum

ahiboilandgas:
I tire oooh their only asset doesn't generate money like tb @12.5 which is my primary interest ....some even add pictures may God protect all men

Haba, why you wan chop all that money alone?. Splash some to them. Chop, clean mouth and move on now.

Gforce2019:
I smelled lie in your comments. How do you invest that you are getting 800k monthly. Eniyan o tan re bi Iya ibeji

It seems you have not been following this thread. Somebody is targeting N1B in TBs at a particular age. Go and calculate 10% on N1B on 1 year TB and calculate the monthly amount on that.

zamirikpo:
Bankers work for there reps. banks and pocket , so they have no obligation towards bank customers. But if a customer wants 13% instead of 4% , u do not have any right to do otherwise. Even the bank mgmt would prefer to sack that staff than loose a juicy customer entirely.



In order matters.......how far with today's AUCTIONS RESULT.any news.

That is not the situation here. If you walk to your account officer and ask him/her whether you should do TB, he/she will definitely say 'No' and that you should do FD but if you walk up to him/her and say you want to do TB, then he/she has not right to deny you. There is a difference between 'should i do' and 'i want to do'. That is what iam trying to point out. The account office is watching out for his/her interest as in his/her 'cabal'.

cy4cent:
Are you kidding me? Now I see why they do it. How can someone be so heartless to allow you get 1-4% interest on FD when you can get up to 13% from TBills? Just for their own selfish interest. It is only God that will help Nigeria, I give up. For the past months, this account officer allowed my funds to remain dormant.

How is the person heartless?. If you move your funds and her 'cabal' reduces and he/she cannot cover the 'hole', it means he/she will be fired. Imagine being sacked in this tough times. I know of somebody who had to resign because of this because his BP was always going through the roof once MPR is close at hand. To make matters worse, his boss calls him at odd hours(sometimes 2am) of the night to remind him of his 'cabal'. The wife just told him that it is better for him to be alive by resigning than die and leave her with four young kids.

Abini2012:
Got 12.20 for 196 days at First Bank today..
Based on my calculations I learn from this thread, interest for 1M should be about 65k without fees.. pls gurus, am I correct? Am I a good student?

Not only you are now a good student, you are now a guru in TB interest calculation.

OgogoroFreak:
Honestly, I like the passion with which you defend these pastors.

People like you would always exist in the world and you are the reason I'm now thinking about cashing out with this church thing... I need to own a church!

Shuooo. Dem go drink ogogoro for that your church?.

Akin3891:
Your post got me to calculate my rent on my two houses, one since 2010 ,built nine years ago, the other for 7 yrs now ,after calculations, the first got me abt 40% money spent ,the second house got me abt 30% money spent. I've been to court severally as regards to two stubborn tenants, paid legal fee, during the space of ten years . I've received heavy punches from a bad tenant once, almost got my younger brother killed by same tenant. The court aren't helpful, a court case can go on for more than three years, the period the judge is to give judgment, your tenant would have vacate, so who will pay then? Thereafter, i changed plans to deal with bad tenants that will say it to your face that, you can't do shit, i use my soldiers friends, ( the tactic is that, the soldier is my younger brother, just posted frm d north, n will be staying in d flat, no assault or physical enforcement at all) few times it worked but that almost got me into trouble the last time i used that tactics ,the day i visited a tenant with soldiers, few days after ,his wife lost a pregnancy of more than nine months, the tenant told me, it's those soldiers that caused his wife panics n made her lost d baby ( later got to know that the baby was over due, and they couldn't afford a CS operation ,so baby died) . Just imagine this Tennant is well informed n financially ok n took the case up, i cld have lose my freedom . The pains behind being a lagos landlord is sometimes more than the enjoyment, it could cause one HBP n more. Since then, I've been super careful dealing with tenants, they can cause u more than you bargained for. But capital NO, TBS won't give me all these troubles so i will stick to it until something bigger show up. If you encounter bad tenants once, you will pray they go with d money, just for peace to reign

A tenant just moved into a vacant flat in the compound where i stay. He paid thousands for the flat. He does not want to pay for recharging prepaid meter to pump water or pay for refuse disposal. If he is asked, he will say that he does not have money but he has money to buy fuel for his generator which he puts on immediately there is power failure. Iam already wondering how he is going to pay the renewal of the rent at expiration of the current rent. From the way he moved in, it seems he was forcefully ejected from where he was coming from.

madprophet:
Boss,

Do this MFB pay as at when due?

Or I should just stick with my FBN MMF?

I do not know as i have never done any fixed deposit with them. I got to have an idea of their loan interest rate when i made an enquiry. The lady that responded to me refused to tell me their interest rate despite persistently asking. I got an idea of it when i went to their website and simulated a loan with their loan calculator. Iam aware that most MFBs do not use the reducing balance method for loans especially for retail/consumer loans but use flat rate method and it is always per month. They will tell you that their interest rate is single digit but they will not tell you that the single digit is per month.

TotoNaRubber:
The people that replied are not kids.

The question you asked has been answered over 10 times this year alone, go and read previous threads and your answer is righg there.

It is a funny question because every month a new person that just discovered Tbills will come and ask the same question.

Do not mind the guy. All it takes is a few days to read about TBs instead of just jumping in to ask immature questions.

ikechukz:
I wanted to ignore this but I just can’t. The beginning of thread was filled with mature responses but it looks like kids have taken over. If you go back and read my question, you’ll find out that I never asked for any mathematical results.

This thread has been filled with matured questions. It is of recent we started seeing questions like yours from kids who are looking for quick and fast money without hard work.

If you had gone back to read or do a search, you would have seen that this same question has been asked by kids like you over and over and answers have been given to such kids over and over. If my kids who have left primary school should ask me such a question, i will go and ask for a refund from the school.

Do some work yourself by applying Simple Interest on your theory and tell us your result.

ikechukz:
I don’t see how your answer relates to my question, if you have nothing reasonable to contribute to my question why not just look past it.

Why not practically compute it yourself by doing it and showing all workings in an exercise book. Iam sure Simple Interest (PTR) is still being taught in schools.

ikechukz:
Hello everyone, thanks for all your contributions in this thread, especially to the OP. I have a spare 500k that I wish to invest, and my question is this; rather than investing for say 14% for a year, will it be better for me to invest for say 12% for three months and do it like three times in a year. Which of them will pay more?

Grupo:
On this thread, there will always be that one person that thinks they just discovered the secret to wealth creation. Lol

That is why MMM succeeded and made a kill.

alezzy13:
21%?? Are they printing the money?

They are not. The give you at 21% per annum and lend at 5% per month which is 60% per annum. 60%-21% = 39%.

amjustme2:
They should upgrade to Fund Managers,

Join FMAN

And I will start taking them serious.

They do not need to join FMAN. They have their target market and they are making a kill.

olujaidi:
Retail credits. They probably lend at 3-6% monthly. In a year that's at least 36%. Retail lending is a fast growing sector that the commercial banks don't really play in but MFBs and Finance Houses do.

The commercial banks have just seen the light that there is so much money to be made in retail lending and are now coming in. GTB has just set the pace and they are already making a kill.

You are right about the lending rate of Renmoney. It is in that 3-6% range per month. It leans more towards the 6%.

obiZEAL:
Try fixed deposits, you get between 12.5% to 19%. Depending on amount and tenure.

amjustme2:
In this Nigeria?

Please tell me the bank that pays this.

Possibly a link to the source of this info.

Else you should delete this post. You could be deceiving a lot of people.

olujaidi:
Renmoney MFB

No wonder their interest rate on consumer loan is so high.

PETERiCHY:
SCAM ALERT

Octopus, you dey waka come this side?.

omidan21:
I went to a GTB bank branch and the customer service person didnt explain this T billz well

he just gave me these details that the next one starts next week Wednesday and also
91 days is 10.29 percent, 182 days -12.6 percent

To cut the long story short can u please explain what primary market and secondary market is i see those terms flying around on here
H
then with that rate GTBank gave me, If i invest 5.5 million for 182 days what will be the return investment
Thanks for your feedback

So you have 5.5m to invest, Tbill was not well expained to you at GTB and you have been seeing primary market and secondary market flying around here and yet you want an explanation for them from somebody abi.

I want to believe that since you know how to login into Nairaland and read posts, you must have heard of 'google' or you must have seen the 'search' feature on this Nairaland thread. Try to make use of any of them first. This is a shorter way to know what they mean than reading from page 1.

xzibukz:
pls what's the different between primary market and secondary market for TB.

I went to access bank today for enquiry, I was told they sell TB on a daily basic only on secondary market at the minimum rate of 11%-12% depends

Primary market is like wholesale while secondary market is like retail. You can also see primary market as 'buying the bale of clothes' and secondary market as 'bend down select'. .

Nnamz:
Yes Ma'am it is correct. 500,000 * 0.1025 per cent = 51,250
51,250 divided by 364 days is 140.796......
140.796..... times 114 days is 16,050.824175.....
Remember that interest is per annum, that's why I divided the interest by 364 days, and multiplied it by 114 days.
MODIFIED: Also please read previous pages of this thread like Ogogoro (which kin name be that sef) stated above

Wetin do the name?. We suppose promote our own now. You wan make him dey answer 'HennesseyFreak', 'GlenfiddichFreak', 'MoetFreak'?.

maklelemakukula:
how many marks ?

100%.

class0247:
If I invest for 6months and I got paid fully at 12% can I use the same money to invest again for another 6months? If this is the case while invest for a whole year when you can make 12% each 6months and make 24% in a year instead of 14% in a one year long fixed. Please I need explanation

I was taught Simple Interest in primary school. I was also taught the same Simple Interest in secondary school. I was also taught the same Simple Interest in higher institution.

I want to believe that anybody that can login into Nairaland to read posts and make comments went to primary school. This means that i was not expecting this way you are looking at it. Moreover, i have gone through several Entrance Examinations past questions and Simple Interest is always a constant question.

Anyway, let me give you a Simple Interest assignment.

Que: Find the Simple Interest on N1,000,000 for 6months at 12%. (Show all workings. You are free to take it home and solve or give it to primary school or secondary school students as assignment).

Just in case you have forgotten the formula, it is:

I = PTR/100

where:

I = Interest
P = Principal
T = Time(Tenor) in years
R = Rate

9ja4eva:
Wow! Lots of fascinating comments here. I want to start trading T-bills, but I do not know where to start, bills to buy, or how to start. Some guidance would help. Any help/suggestions would be appreciated. I take God beg una.

Start by reading the first 10 pages of this thread and then continue reading starting from 10 subsequent pages. Also stay close and read current comments. You will get to know everything about TB in not time if you are serious and dedicated to it. Na the path wen i follow be that.

Dracoe:
What’s the interest rate of money market fund like per annum?

It varies but closely follows the TB rate. The main advantage of TB over it is that TB has true yield because of the upfront interest. MMF is a good way to start for somebody with little funds. When the funds grows to a reasonable amount, you can withdraw from it and invest in TB.

See this thread and read more about it.

https://www.nairaland.com/1912965/mutual-funds

partnerbizz4:
Good morning all,

I have been meaning to ask this question.

Is it possible to get a loan with which to build a house like four storeyed building? Land is available.


Can any bank finance this?


Can any mortgage body or firm finance it?



Are there other ways one can actualise this?

Cannot say if Nigeria banks give such loans. You will need to visit your bank to find out. Many banks have recently been advertising for consumer loans. Such loans are always tied to the person's salary account been domiciled in such banks.

Dracoe:
Good morning everyone. I want to invest in t bills ,I’m still a student and I plan on starting with 50,000(I don’t know how feasible this is;prolly someone could enlighten me)
I would like to know which bank is best and which has the highest rates .And also the best in investing in whether the 91,182 or 364 days tenor, as I don’t plan on touching the money for a really long time.Also if I was doing the 364 days tenor,do I have to keep reinvesting once the 364 days is over ?
Your contributions are highly welcomed and appreciated.

Nice that you are considering investment. It is good to always start early. I would advised that you open a Money Market Fund(MMF) instead with that amount. MMF allows you to top up with any amount you have any time which TB does not allow. The only advantage TB has over it is that TBs pays interest upfront.

awesomeJ:
Reserves now at $44.34bn (as at Mar 28), Brent has gained more than 2% today. it's currently trading above $69 and may cross the $70 mark before the week is out.

So, there's some pretty huge comfort for the MPC currently.
My Outlook for this quarter is for T-bills discount to be between 11.5 and 13.2% for the 364 day papers.

The only major factor that may alter the market now is if there's a change in the CBN's leadership by June.

364 days at 12.8% is 14.66% yield
182 days at 12% is 12.77% yield
and 91days at 10.5% is 10.75%

MMFs at 12.5-13% are available alternatives for the short term. Those funds locked in some instruments already at 15%, so they should be able to support their current yield levels for at least one more quarter.


Happy New month to us all, welcome to Q2.

This is nice. My TBs mature in September. So iam watching the scenarios for now.

DPRmoniker:
If you are not able to read all the story, the bottom-line is that my 18-year old daughter is so attached to me that she can change clothes before me or sleep on same bed with me and feel no shyness. How best can I create a loving distance between us? I want to do this . . .

The details . . .

Preamble

It was late 1999 and I was in 4th year, studying engineering in University of Nigeria Nsukka. Shortly before my internship, I got my then girlfriend pregnant. A 2nd year student of Mass Communication, Obioma. She was young, beautiful, quiet, harmless, innocent (looking) and active catholic. I felt bad (the worst feeling of my life so far), not because I got someone pregnant but because of what she will pass through. Insults/embarrassment/shame in class, church and family, studies and exams, she will just be looked at like the worst person. She opted to abort the baby and I refused. Even though they frowned at the pregnancy, my parents, staunch Catholics, didn’t go hard on anyone and always made it clear they are willing to take the child if we deem it unwanted.

To cut the story short, after nursing the baby (a girl) briefly my mother took over. I am from Nsukka (the university town) and my mother was a teacher then (now retired). As a student, I was on a couple of scholarships and did a lucrative GCE/JAMB lessons and exam runs. So money wasn’t such a challenge. Student-turned-baby mama went to see her child from time to time, and didn’t appear to have forgiven me for what she went through in the course of the pregnancy (mostly the stigma and poor academic performance). Remember we are talking about 1999 here and not 2019 (so if not for anything, there has not been a Facebook. lol). I was giving her a weird consolation of how it is good to give birth early and how what people think don’t really matter. By the way, she was like 17-18 years at the time, from Asaba. Myself around 21 years then.

Fast-forward to 2005/6, I have taken my daughter, 5, and been working in Port Harcourt. For my personal nature and level of thoroughness, I believe she’d be better raised under my nose. In 2008, I got married to the same Obioma after almost a decade of on-off relationship. It appeared we understood ourselves inside-out and can’t just do without each other even though we are not the best of lovers.

Current Situation and the Challenge

Now approaching 18, our daughter is in the University. She took a lot from me ranging from physical features and strength to mental reasoning. Perhaps owing to circumstances of her early years, she has strong leadership qualities and some level of independence with sense of humour. Her gap to the following sibling (a boy) is 8 years. She supervises everything in the house – from the house keys to the car keys, from the cooking gas level to generator servicing, from the fire extinguishers to the electric bulbs, from foodstuffs to menu, etc. She is practically in charge when I’m not around and has express authority to punish or otherwise the two boys following her. Some say I have given her so much power that may affect her relationship or marital life but that is not my worry, for now. She stayed in the dormitory for secondary school but goes to the Uni from home. We no longer stay in PH anyway.

Here are my worries. When her mother is not around, she would so love to come and sleep on our bed with me. Amid all the resistance, she succeeds at times. She had excitedly said it before some visitors and I felt very embarrassed. This girl can wear anything and sit anyhow in my presence but a very sharp contrast when a non-family member is present. Recently, she was chasing around the last born tying only towel, the towel dropped in front of us. She did not hurry up to cover up even as she had no underwear inside. Then her mother stood to give her a slap and she challenged “that no other person is here”. She sits on my body like there’s no tomorrow and presses all parts of her body on me with no reservations. She is just that free. I have never seen anything like this before. Initially, I believed that as she matures she will be withdrawing but no way. We are actually very close that at times during holidays she just takes fun in coming to the office at closing hours for us to go back home together (some 6km away). Virtually everyone that knows me knows her. A striking resemblance is there too.

I know that even on gunpoint with the devil, I cannot harbor sexual thoughts on my daughter or sister. I am not that religious anyway, but I feel there should be some distance. Others have also indicated that she may use me as benchmark when choosing husband and it will be wrong if not corrected now.

to continue shortly . . .

As a first step to gradually loosen the closeness, send her to campus since she is now in the university so that she can be with her mates especially guys. She should no longer be going from home.

My daughter is very very close to me and she is a proper daddy's girl through and through. I decided to send her to boarding house so that i can gradually detach the closeness as i know that it might likely affect her in future especially in terms of relationships. She still tries to use tricks in the school to come home to see me or to speak to me. It is a gradual process. I envisaged that by the time she gets to Senior secondary and then university, she would be used to being independent of me.

ositadima1:
Forbes 2019 top 20 richest Nigerians

1. Alikote Dangote
2. Mike Adenuga
3. Femi Otedola
4. Folorunsho Alabija
5. Theophilus Danjuma
6. Abdusalam Rabiu
7. Tony Elumelu
8. Orji Uzor Kalu
9. Jim Ovia
10. Oba Otudeko
11. Arthur Eze
12. Cletus Ibeto
13. Benedict Peters
14. Igho Sanomi
15. ABC Orjiako
16. Bode Akindele
17. Emmanuel Ojei
18. Mohammed Indimi
19. Tunde Folawiyo
20. Hakeem Belo-Osagie

Ok, now tell me how many SS and SE are on this list? Is it one or two according to you?

How come my own name no dey this list?. Ohhhh, I forgot. I be silent Billionaire.

ClitRaider:
First 30 days 8.1%, second 30 days 8.1%, that's 16.2% in 60 days.
if I keep rolling over, I will get more than 100% in 365 days.
Baba, na FD I go do.

You think say you just discover gold abi with this?.

If na so, i for don dey my village since 5 years ago on retirement and be drinking palmwine with fresh fish pepper soup every evening.

All rates are quoted per annum and not per month.

Kirchhoff01:
Jeeez
so I have been wasting my money on fixed deposit since 2years

It might not be as it depends on the rate you have been getting for your fixed deposit. If the rate has been low, then you might have been wasting your money if the money was for the long term. Terminating a TB when you need money urgently comes with penalty.

Kirchhoff01:
Is this what I get in a whole year with a principal of 2M or for 91 days?

It is what you get for 91 days. If you want to get higher, then you have to invest in a higher tenor.