₦airaland Forum

mufutau55:
My Oga knows that I am always lurking.
Who better build Oga Ihebrooke design than Oga Spyder.
Attention to details from the two Masters. Well done.

Hajji M.

Make i follow my kobo kobo Oga perch for here as i wan learn how to save kobo kobo from am in order to build this kin fine duplex.

DInkMan:
My TB matured on Thursday last week. Since then I have been on impulsive spending spree – pls don’t blame, lol.
Today I was at my bank to find rates and tenor as @ today. The secondary bills available are lower tenors which were not preferred by me.
I promptly requested for the primary auction form, filled, submitted & locked down instantly before I turned my capital to expenditure .
That is one of the advantages of TB!

Since you refused to flex us with the matured TB and decided to flex alone, no forget to flex us with the upfront interest o otherwise you go pay fine.

deepwater:
Even if I don't work for the federal government, they would keep paying my house rent until I complete my house.

#TBillsThings
If you know, you know

Since federal government has refused to spend the recommended percentage of the budget on education thereby causing a decline in education, i have decided that na them go dey fund the education of my kids wen dey boarding house for now until dem decide to spend the recommended percentage on education.

Nnamz:
Please read previous pages. Like for real it would have been easier for me to just give you a direct answer to your question, but tomorrow you would still have another question, and the day after and that after. Do yourself a favour and equip yourself with the necessary knowledge by reading previous pages, for your own good. It would help you make the best decisions on how to use your hard earned money. Best.

No need to even read previous pages for any answer. This thread has a search facility. Putting the question there will throw up all the pages with the answer. Even google search will throw up answers. The only thing many people know how to use data for is to do facebook, instagram, twitter and whatsapp. They do not know that you can also browse and google with it.

johnmba:
In my days children who fail classes are asked to repeat class. Some repeat class twice before they move to the next class. But its unfortunate that recently children do not fail again.

I have never i mean NEVER seen anybody whose child repeat class. Every parents will tell you my children did well. Very soon this term will finish and every parent will tell their friends how wonderful their children performed.

The method of grading children have been abolished by some private schools.

What is happening.......is it that children these days are all doing well.

cc: Lalasticlala
Seun

In Catholic schools, a child can repeat and once you fail the class again, you are withdrawn. In addition, it is only some classes that you are allowed to repeat. For other classes, it is immediate withdrawal.

aremso:
Thank You very much BOSS, i truly love your stand on this particular question i want to back up your point by saying every Nigerians who DESIRED to be a Millionaire can be As you have stated above, one must have a very high level of financial discipline which majority of Nigerian lacks, we want to eat our cake and at the same time have it in our hands. Jesus says the poor will always be with you but me i want to be among the rich and i believe if one has the desired to be rich legitimately, one would go extra mile to achieve such even as salary earner no matter the amount, one can be a millionaire. Is matter of mind set, one also need to read much about maintaining that status when one gets there. i could remember about 10yrs ago, i was saving my small small money then invest in tb wit returns of 14k on those hard earned saved money, i also diversified into stocks then but i was determined and focused and Thank God today, i can do TB of 10m but still eyeing 20m by next yr GOD helping me. Majority are ruining rat race today cos of financial indiscipline. Today i dont need to use my housing allawe to pay house rent, dividend from my stocks does that for me, TB can pay my child school fees and i invest my housing allawe in return to get more money. Every one who desires to be a millionaire legitimately can be if he/she work towards it and have very high level of financial discipline

Years ago, i told somebody this same thing and the person laughed at me and said that i was joking. Many people have this weird belief that you have to steal in order to make it.

micos:
Please people in the house I need your help I am newbie in the T- bill investment . I put in for this month T-bill at stanbic bank with 700000k for 92 days but to my surprised I was debited 681326k remaining 19607k please what is percentage .

When you say 92 days, i want to believe that you did secondary market as there is no primary market of 92 days. You only have primary market of 91, 182 and 364 days.

hollerbaby:
So I did secondary market at stanbic yesterday 11.95 % 122days maturing Feb 14. They had 30.days at 12.5%

See money for valentine's day.

Grupo:
Many people on this thread are so rude. The time and energy they use in typing insults and saying things like, "read previous pages" can be enough to answer a simple YES/NO question. Mtcheew.

The time spent to think and type "Mtcheew" is enough to read three previous pages. Mtcheew.

Contumely:
Login pin is different from transfer pin.

How would he get the transfer pin?

Again, no bank app saves password automatically like facebook does.

It can save login id but not password.

It depends on how the application has been designed. Some applications allow you to create a beneficiary in which you use an OTP(One Time Password) sent to you to complete the creation. Once a beneficiary has been created, you do not need a pin or OTP to complete the transfer. Once the transfer is done, the person can easily delete the beneficiary. I could be wrong though. Let the person go to his/her bank. They will be able to get the audit trail of what happened.

Contumely:
nl1960
invertedhammer
ilegend
airforce1
donstan88

cosplay

It is possible. If the owner of the phone has Internet Banking or Mobile App on it and the settings is 'remember login information', it means once any of those options is selected, it automatically logins into the application and then the person can do a transfer to another account. I think most times, transfers from such sources has a daily limit of N1m.

spyder880:
Starting with decorative "burnt brick" tiles outside. .......

Can these burnt bricks stand alone on their own as per can it be used for partitioning?.

Olakunle007:
Hey folks, I was in First Bank on Tuesday along with my brother to make an inquiry about First Bank fixed deposit. The woman who attended to us told us told us 4% for 30 days duration (1 month) which we are okay with.

So on Wednesday, we went there to fix #500.000 and the woman she would make it 5%. She asked us to come back for the certificate.

And today, this is what I see in the letter which my brother has already endorsed.

I'm thinking the calculation is not correct. Please explain better...

The calculation is correct. Interest rate is per year and not per month.

The formula for simple interest is:

I = PTR/365 or 366 depending on whether it is a leap year or not (no ask me wetin be leap year o)

where:

P = Principal = N500,000

T = Time = 30 days

R = Rate = 5% = 5/100 = 0.05

Therefore:

I = (500,000 * 30 * 0.05 )/365 = 750,000 / 365 = 2054.794520547945 = 2,054.79. QED

When dem dey teach Simple Interest for mathematics class for school, na people like you go dey make noise, dey make fun of teacher and be asking the teacher wetin dem go use am do for future. You can now see the usefulness. .

Ehuatamuigunisi:
Hello fellow investors,

I want to move my fund from MMF to treasury bills for 375 days. Is there guaranty I will succeed in getting primary market offer from any bank. I tried TB some years back but my bid wasn't successful, so first bank returned my money instantly.
I

There is no 375 days TB.

gift01:
If I meet your conditions; will you loan me 10 million to buy tbills even if it's for 182 days

The guy money don lost be that. What rate percentage will you get from TB to be able to pay back a loan that will probably be given in a rate per month?.

spyder880:
Your choice is same as the owner of the house Sir . I have bought and moved the tiles to site today. Awaiting the guy who will fix it.

I don dey suspect say na 'kobo kobo' Hajji get this house with this statement.

KPboy:
Thanks, you gave great Explanations! It got me confused earlier!! So essentially some banks can get very high bids.. .especially if I insist on them pooling for primary using a 'smart' rate. Eco Bank like someone said above, they smashed me giving the high amount I'm doing, almost 10m. I'm considering other options & he's giving me excuse on cancelling it (that there's a possibility of losing my principal). That once I request, they'll confirm the condition of liquidation & get me to confirm before proceeding. I'm touched by the exposure on this forum. Regards

You cannot insist if you do not have 50m. Even if you have 49.999999999m, you must follow the bank rate. When the bank is pooling, they determine the rate and not you.

Let us look at it this way:

(1) You have 50m and you fill a primary market form and choose 14% as rate

(2) The Bank will take your bid to the auction with that your rate of 14% for that 50m amount

(3) The bank now pools funds from small small boys like us and bid 13% for us.

(4) Let us assume that at the auction, the CBN stop rate becomes 13.5%

(5) What this means is that the bid for the pool funds of small small boys like us will succeed because the 13% is lower than the CBN spot rate of 13.5% while your 50m bid of 14% will fail.

(6) If the CBN stop rate was 14.2%, your 50m bid will succeed and you get 14% while we get 13%.

(7) Prior to the 50m rule, i was not even specifying my own rate. I always tell the bank to use their rate as they are the expert in it and not me that hustling with looking for kobo kobo.

KPboy:
First, it seems some banks allow people under 50m to bid primary.. Secondly, the difference in secondary rates obtained vary significantly. I need to become radical, this community is exposed and vibrant. Cheers.

BTW, lemme not talk much! I blasted my Eco Bank manager on reading stuff here...they're many big shots that'll emanate from this thread. All the Best

(1) CBN came up with the 50m rule last year. If you have 50m, you can specify your rate when bidding in the primary market. If you do not have 50m, you have to follow the bank's rate. The banks pool funds of those with less than 50m and bid on their behalf with their rate and then allocate to them. I normally follow bank's rate as i no get 50m.

(2) Secondary market rates vary from bank to bank and it depends on availability and tenor. Even primary market rate also vary from bank to bank because it is a bid. If a bank specifies a rate lower than the CBN spot rate, such a bank is given at the lower rate specified and if a bank specifies above the spot rate, nothing for such a bank the bank lost the bid. Some banks bid low just to be on the safe side.

KPboy:
Will like to speak with you. Thanks

Speak with me ke?. For phone?. Speak to me here o. You know whether i be Dangote?.

Nnamz:
No sir. It is September 26th it's bi-weekly. Last week's auction was just an extra. So the next auction is two weeks from the September 12th auction

That is not how it works. It does not have to be bi-weekly. The dates are determined by CBN and published in quarters. See the attached calendar for the 4th quarter.

Btw, NTB use of quarter is not your usual Jan-Mar, April-June, July-Sep, Oct-Dec. The TB calendar cycle is from December to November. First quarter is from December to February.

vexing:
Please I hope the next auction at the primary market is Wednesday, September 26. I just want to be guided.

No. It is likely October 3.

Gavrelino123:
Thanks
..What are the necessary documents needed to open a STANBIC IBTC account..?
How long does it take to complete the process.?
Would you prefer Stanbic IBTC Over FIRST BANK.?
What hierarchical value can you rate STANBIC IBTC over other commercial banks.?

(1) You can send a mail to their customercare(check their website for this and phone number of their branches) and they will tell you the documents based on the type of account you want to open. I opened my present current account when it was still Chartered Bank. Chartered Bank later became CharteredIBTC and now StanbicIBTC.

(2) All these years i have operated an account have been with Stanbic. My kids accounts are also there as iam very comfortable with their services. So i will likely be biased if iam to compare with First Bank.

(3) I only opened a Savings account last two years with GTB because Stanbic was not close to my village which was making it difficult to withdraw cash during Christmas period especially when ATMs are down. GTB has a branch close to my village. So when ATMs are down, i can withdraw from across the counter. Prior to then, i did not have any other account with any other bank.

DInkMan:
They now have a fair share of branches compared to Standard Chartered, lol.
Also, their customer support is top notch.

Real top notch. I do not go to my branch when i have issues even for ATM debit without dispense. I just send a mail to their customercare and the issue is resolved.

Gavrelino123:
Finally,Stanbic is King...
Excellent rates.
Time to open an account with them.....But I'm only worried about their limited branches in Lagos..
What do you think.?

I think their branch spread is fine. Banks then were just opening branches anyhow without thinking. You go to some areas, you will see about 3 branches of one bank on a street. Walk in now and you will see the halls empty. Banking has advanced. These days, banking is by technology. I have only visited my branch or entered any branch of stanbic thrice this year. First was to renew my ATM card, the second was to fill a form for TB and the third to fill another form for TB which was Monday this week. Wetin i dey go do for branch when i have ATM card and Internet Banking.

Olohunjedalo:
Why will anyone bid above the stop rate sir?

The stop rate is not known prior to the bid. The reason it is called auction and bids are invited. If the stop rate is known and the amount to be offered is also known, all banks will bid the stop rate. Since last week's stop rate was 13.5, some banks might be tempted to think it will go higher thereby bidding above last week's stop rate.

NL1960:
Zenith bank use a rate to be on the safe side. Banks that will use last week's rate of 13.5 to judge and bid 13.5 and above will likely fail. I hope my bank Stanbic succeeded for their 364 days. This one that i have not seen alert is somehow.

Alert gotten from Stanbic for 364 days tenor. Rate is 13.16%.

meetchandus:
12.3% for 364 days from Zenith bank..

Zenith bank use a rate to be on the safe side. Banks that will use last week's rate of 13.5 to judge and bid 13.5 and above will likely fail. I hope my bank Stanbic succeeded for their 364 days. This one that i have not seen alert is somehow.

dotcomnamename:
Anybody with the latest bid rate of Primary Market through First Bank ?

Not only First Bank. Does anybody have the CBN auction result?.

umulobi:
I also visited Stanbic in the morning,got a deal in the secondary market for 129days @ 12.85%.I can't wait till Wed,everyday counts.

I was also told of other tenors and even one that will mature July 2019 at 11.something. Since auction is this week, i really do not mind difference of 3 days. Iam after a 300+ tenor. I like locking in for long tenor and then go and start gathering little by little.

kamsy4God:
Thanks so much, I will go to Firstbank early tomorrow morning (before 9am )to fill the form for 182days. Hope tomorrow is not late.

I do not know how First Bank operates. I normally fill my form either on a Friday or Monday at Stanbic just to be on the safe side.

Etfash:
Is it Primary Market?

Yes o.

NL1960:
From the TB 4th quarter calendar posted here, it seems there is another auction next week. I intend to use my matured Stanbic 364 days to bid for that. Will visit the bank on Monday to confirm that there is an auction.

kamsy4God:
Bro Pls confirm if there is another auction next week and share. Awaiting your reply.

NL1960:
My assumption was based on the attached 4th quarter calendar. From it, iam seeing that the maturing TBs are being rollover. The maturing TBs have to be paid to investors and if the CBN does not have the ready cash to pay the investors, they will have to issue fresh or rollover existing TBs in order to pay. Will also visit my bank tomorrow to confirm as i need to re-invest my matured TB.

The gurus in the house can weigh in on this as iam a learner.

Just came back from my bank, Stanbic. There is an auction on Wednesday, September 19, 2018. I have filled their form for the 364 days primary market.