₦airaland Forum

zamirikpo:
I have been holding some funds for the past 3weeks in anticipation of the rates hitting 15%. , one more primary auction before I make my move.
Happy days I hope...

I have a Stanbic 364 days that matured yesterday. Once the funds hit my account, i will likely wait to see the direction of rates before re-investing.

4601CE:
Iffahear
Is it not the same NL1960 I sabi in the property section.

Even me self dey wonder if na the same. I dey suspect say na the clone of the one in property section.

IHelp:
You might like the FGN savings bond. Do check it out if you have not.

Thanks but i know about FGN bonds. I only do TBs for now as it is one year. FGN bonds is 2 and 3 years. Maybe if in future, FGN bonds rate goes above TB rate, i might take a look at it.

creamylicious:
Which one is mmf again ooooo? People like us that can use 12 months to raise only 180k with hunger, e be like say respite don dey. Edakun, what's mmf? Maybe that would be a stepping stone to bigger things because na million million people full this TB thread since I joined

This is a good amount for MMF and try to be consistent in the 12 months. Never knew about MMF. So i started with savings account and built over a long period before i delved into Treasury bills. I still have the savings account where i still put aside on a monthly basis for a targeted 12 months period. It is not easy sha with soaking garri and hunger to achieve that.

C505:
Bro please can you explain more because I never did TB. I've always invested in MMF. But all the loud noises of TB that drowns the voice of MMF investors makes it look as though TB compared to MMF is like the difference between Bsc and HND.

Based on my research, both are six of one and half a dozen of the other

From your angle, just point the flashlight and let me see what you're seeing.

I will say that if your money is small and comes in trickles, you should go for MMF and then build a reasonable amount there after which you move such to TB. TB is sweet when the money is not small.

Adegokenath:
pls @ what % rate?

I have completed the form for the next primary market bid which is tomorrow, Wednesday, 12, 2018. Primary market rates are not known until after the bid. I was shown the rate for the last primary bid which was 13.something.

Nnamz:
People probably skipped your question because of the complex Mathematics involved in it, but I took the pleasure in solving it for you. And I've got the answer for you brother

Go for the 101 days. It is a very good offer. And I'll explain why here. Will try to make sure it isn't confusing.

Assuming you wanted to invest 1,000,000 Naira. Say you invested it for 364 days at 11%. You would get an interest of 110,000 Naira, right? Okay. Now when you you invest this 1,000,000 Naira at 10.80% for 101 days, you are getting 29,967 Naira (please I hope you know how I got this, else please read previous pages . Now here comes the difficult part. Since your goal is to invest for 1 year and get that sweet (though poor) 11%, what you can do is to reinvest your money, after it matures, within that 364 days period. Divide 364 days by the 101 days and you would get 3.6. Now multiply that 29,967 Naira interest (that you get after the 101 days) by the 3.6 (364 days by 101 days), and that gives you 107,999.9 Naira. So now you can see that if you invested your 1,000,000 Naira for every 101 days until the 364th day (364 days divided by 101 days, times the interest of 29,967 Naira), you would be getting 107,999.9 Naira, a mere difference of 2000.1 Naira if you did it for 364 days at 11%.

I doubt if this would make sense to anyone, but I would really appreciate it if you could like this if it made sense to you. Would just like to know I got across to at least one person haha

What is the probability of getting another 10.8% for 101 days after the maturity of the first 101 days or subsequent 101 days and what is also the probability of getting it immediately without a loss of any day?. Just multiplying by 3.6(364/101) is too theoretical in my opinion.

Phyde:
Which of the branch sir? Festac branch is frustrating.

My branch is Yinka Folawiyo plaza branch , Warehouse road, Apapa.

The secondary market tenor available was not attractive. I have been monitoring the available secondary market tenors since last week with the mind that if i get 300+, i pick it otherwise i wait for primary market.

GetPosted:
Please when is the next primary market auction?
Does anyone have the Calendar?

This week, Wednesday September 12, 2018.

If you have not gone to your Bank to fill the form, you better run there immediately otherwise tomorrow might be late. I just came back from filling mine at Stanbic.

Meanwhile, make all those wen dey quarrel over nothing continue.

zamirikpo:
Am waiting for primary market ooh, it has to be 364days........sept things/school fees........if u know u know.....

My plan was for school fees but i could not get 300+ days and school fees was demanded for. So i had to use reserve funds for the school fees as these days, you pay before resumption and na boarding.

Mfunkynation:
is 98 days @ 11.2% not good offer?

I was after the tenor as i was looking for a 300+ days tenor. Instead of doing 98 @ 11.2, i will rather wait and do a 364 days. The upfront interest for 98 days will not solve for me what i want to use it for.

Phyde:
The last auction date was Aug 29th so, i guess the next date will be Sept 12th. I was at StanbicIBTC Festac branch some minutes back to make enquiry on their secondary market which is not too juicy (188days 11.09%, 98days 11.2% and 55days 10.08%) I just decided to filled form for the next primary market auction. The rude lady i met refused collecting my form saying no advise from head office to keep customers form and asked me to come with the already filled form a day before the auction date. PLEASE TBILL GURUS IN THE HOUSE, IS IT ADVISABLE TO GO WITH HER WORDS ?

Those were the tenors i was also told yesterday when i went which made me to opt for primary market next week. I will go back on Monday to fill the form.

Moses247:
Good evening fellas. I bought T. B of 1.3m yesterday at first bank for 303days at the rate of 11%, but what I don't understand is this. 117k was credited to Me as interest?? I was thinking of 130k or so? Abeg someone should make me understand Thank u

Iam looking for above 300 days tenor like this. Went late to Stanbic yesterday but could only see 57 and 67 days. Will try again this morning. If no show, na to wait for primary market then.

lolaluv1:
The bank is GTB.
Though I suspect the issue is with the account officer and not the service. Because I asked her to give me the available rates and she stated she doesnt know yet. But writing that they bid at the prevailing rate would allow them bid for me at they rate they (GTB) are bidding. I will find all the information regarding the TB and the charges and write here.

I went to GTB this early morning to inquire about secondary market when the mail i sent to my account officer yesterday bounced and her number was not going through. I was told that she no longer works and was introduced to another person who looks like a 'fresher' to me. Na 'small' boy from my assessment. The guy checked and said that tenors were not yet available as at 8.00am and that it will be available by 10.00am. He promised to get back to me by call or email and till now, i have not yet heard from him and unfortunately i did not take his contact details. If by end of today, there is no word from him, na to transfer my money to Stanbic tomorrow. Worse case i go do primary market next week for Stanbic if i cannot get my desired tenor from them. I no ready to go back and forth with a 'learner' account officer.

Please does anybody have an idea of GTbank secondary market tenors and rates for today?. I intend going there tomorrow for secondary market. If they do not have anything attractive, i might as well wait for next week primary market.

Gavrelino123:
I just got debitted GTBANK.....11.6%@ 195 days..
At least it's manageable other than waiting for an unpredictable Bi-week.

I will call my account officer on Monday. If i cannot get above 300 or close to it, i might have to try Stanbic. I also have a Stanbic TB maturing on September 13. School resumption is not leaving me enough room to maneuver.

Gavrelino123:
Thanks,i already did that,she told me she has only 195 days @ 11% available for secondary Markets.....I reciprocated that she swings into action with immediate effect....!!!
I would have preferred a day closest to 364 days....
Well,i just hope to be debited today by God's grace..!!
I'm tired of all these failed bid..!!!!!!!!!

I have to be intelligent here,
I will be the one loosing "Each day i delay",because the actual interest is calculated on a daily basis in the Accounting World juxtaposed with reality...!!

This was why i asked if it is possible for Gtbank to have 300+ days next week if they loose this week 364 days. My thinking is that banks sell from their pool and if there was a failure of 364 days, will that not mean that they do not have any in their 364 days pool?.

zinaunreal:
Only your account officer would have a genuine idea of secondary rates for your bank. Try giving him/her a chat. I got tired of failed bids, im now a fan of secondary market

If GTbank 364 failed, are they likely to have a more than 300+ days secondary market deal next week?.

CanadianEnginee:
i went to my bank (stanbic) and was told that primary rate for 364 days is 13%. I so doubt it.
can anyone confirm this?

Barrytone:
https://www.businesspost.ng/2018/08/30/t-bills-yields-drop-0-20-as-cbn-sells-n207b-fresh-bills/

"However, the CBN received subscriptions worth N146.07 billion from the 364-day bill, but the bank sold N145.48 billion of the paper at 13.05 percent."

lancee:
Gavrelino have u gotten ur Alert !!..Mine Landed 4am

4am ke?. You go queue for the bank door?.

Gavrelino123:
Mehn,i like your style of investment planning and analysis.....This is my intention too..
God bless you and your investments...!!
Do you have any idea why GTBANK hasn't credited us..?
This is very un-usual of them......I'm gradually loosing my mind here...!!

Alert just landed. FG does not default.

Gavrelino123:
good morning house..
Has GTBANK credited anyone today..?
This is very strange,up till now,no credit notice...!
And my statement it has been written off in my internet statement of Account...!!!

Iam also waiting for their alert on my matured TB so that i can rush to secondary market. I need money for school fees. Na FG dey fund my kids schools fees now.

unite4real:
If that's how you calculate such investment, it means that same house of 5 million which will be sold for 15M after 10 years will then be about 45M in another 10 years. Bros abi babe, its not that mathematical. Living in Abuja for past 18 years, i have seen houses rise and fall seriously. A house bought for 2.2M was sold for around 8M after 10 years. The new owner sold it for 7M (after buying for 8M) after 3 years of ownership. Houses usually get to their peak on the graph and the only next option is to begin a fall.

I pay rent in a house that was sold to the Landlord for 23M in the year 2013. Recently, he put the house up for sale and the highest he got was 17M (to be paid in installment sef). He said to rather not sell instead of running at a loss.

If the transport system is improved better than presently, with all high speed rail lines criss-crossing Nigeria, and roads are repaired; i can assure you that it will further crash property prices further because living in Ibadan and working in Ikeja will be more cost effective. Living in Kaduna or Lokoja or Suleja and working in Abuja will be more cost effective. The issue of considering buying properties in high yield area will gradually balance itself out in favour of development catching up with satellite towns and adjourning cities to the cake locations.

Gbam.

People always think that properties will always appreciate. Whereas it is not true. A flat in the compound i stayed became vacant October last year. When we heard that the Landlord had put a rental price of 1m on it, we all laughed. The flat is still vacant. On Sunday, i heard a prospect being told it is 700k. People came around to inspect and none took it. When i asked the security man why they did not take, he said that the highest any of them offered was 400k.

When the landlord increased it last year, he said that anybody that do not want to pay should pack out and yet one flat that became vacant is still vacant and October will make it a year which is a loss of a year's rent. Imagine if about four of us had also packed out. I told my neigbour that iam not really bothered about the landlord increasing because he will soon get to a point where he can no longer increase and if he decides to still increase it after that point, i will now pack out so that he will be forced to place a lower rent on it after waiting for no rentage for several months and then i will come back to rent it at that lower price.

ahiboilandgas:
My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

ahiboilandgas:
have u heard of the word cooperate tenate ,taking 5 year lease ..i have 4 tenate that have never defaulted more than 3 months to complete payments for the past 5 years ...we are talking about house not face me I also u tenate

You are just giving these details now after so much asking. Your original post said 'a house'. A face-me-i-face-you is a house now as people live in it. Face-me-i-face-you people normally say 'iam going to my house' and not 'iam going to my face-me-i-face-you'. .

ahiboilandgas:
I don't want to convince u ,if u know ,U know .....a single tenate occupy it for 10 years ....

No maintenance in 10 years. No tenant wahala and tenant non payment for 10 years. No stress to collect the yearly rent for 10 years. What a lucky Landlord.

Anyway, people have different investment goals and strategies.

ahiboilandgas:
Lagos is not the only place in Nigeria other state are available

I know. So mention the place and the type of house. The information you gave was not complete. You also did not mention how much was used for maintenance of the house and if there were no problematic tenants as the house being in Nigeria, i doubt the tenant or all the tenants were well behaved for that period.

ahiboilandgas:
My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

Have you seen the high number of houses for sale dotting every nook and cranny of Lagos?.

Btw, where is that house located?. It is not enough to just give us how much he sold it. The location and type of house is also needed.

Extremism:
Annually, the National Examinations Council, NECO, conducts National Common Entrance Examination for admission into Junior Secondary School (JSS 1) of Federal Government Unity Colleges throughout the country and other interested foreign countries. In 2018 this year, about 80,000 students enrolled for the examination. My question is, is it compulsory for those who do not intend seeking admission into Federal Government Colleges to write the Common Entrance Examination? The reason I am asking is that I intend enrolling my son in a Private Secondary School next year and to me, it would be unnecessary for him to write the Common Entrance Examination since he won't be seeking admission into any of the Federal Government Colleges in Nigeria. The reason I am asking is that from my childhood days, I always felt Common Entrance was compulsory for all Primary School students until I recently logged into the NECO website and found the information quoted below:

"The National Common Entrance Examination for admission into Junior Secondary School (JSS 1) of Federal Government Unity Colleges for 2018 will be held throughout the country and other interested foreign countries.

Only Final year pupils of Primary Schools are eligible for the exams."

Taking into consideration the emboldened portion of the quote above, it seems clear to me that my son will have no business writing the Common Entrance Examination but I may be wrong. I will like to hear divergent views on this backed by necessary facts and information from relevant government agencies or laws.

The National Common Entrance examination is only for those that want to send their kids to any of the 104 Federal Government Unity secondary schools. If you want to send your kid to a private secondary school or any of the missionary secondary schools, you do not need it.

Donbrig:
Many were really successful in yesterday's auction.. Great. The money I intend to invest in this week's treasury bills was paid into my account today, too late. Does anybody know if there will still be another primary auction next week? Sometimes, CBN do auction treasury bills immediately after previous week due to over subscription.

GTB 364days had better succeed o because i have a TB with them maturing on August 30 and i intend to immediately do a secondary market. If their 364 days is successfully, i assume that the likelihood of getting a secondary market tenor above 300 days will be high.

Smartini:
Which Apapa are they talking about? No be the same papa wey I dey pass almost everyday? Heavy duty Liars setting unrealistic deadlines... And the ignorant ones are there hailing them. Talk true... Una no know that road

ogunsj:
if you know the said road well, can you tell us the extent of work done so far? you people enemy of progress come on nairaland to mislead people mischievously. that road is 90% or more completed. they are already joining the road to the marine bridge head , while some are rounding up the eleganza end. maybe you only see barracks portion and you are thinking they are only working there imagining when they will ever get to whalf. those guys are doing solid work there.

No mind the guy. He thinks it is the Apapa-Oshodi expressway portion from Tin-Can through Coconut through Mile 2 through Oshodi that the NPA MD is talking about. I doubt he knows where Wharf road is in Apapa. I like the methodical way they have been going about it which still makes traffic to move despite the challenges. Iam sure they might have completed and opened it this August ending if not for the bridge being repaired by JB through the ministry of works.

nifeseun:
Thank God I had to read this, have been battling with the though for a week now. Hubby and I was thinking of enrolling our 1yr 7 month son in school, probably kindergarten or pre school, am a biz woman so staying with my son is not a problem, but my mum came n she said we should wait till he is 2 yrs when he can talk well n I can teach him small things at home, though av been trying but the lil man doesn't take me serious, he just says A,B n won't ans again or sys 1,2 den jump to 8,9. I think my mum is right, she is an educationists, guess am rushing him too much cos pple around av started asking y I won't let him go to school n join his mate that he is too clinging .

When my wife started telling me that people have started asking her why our son was still not in school, i asked her if the boy is their child and that for all i care, they can decide to send their one month old baby to school and that if the boy is not 3 years old, no school for him. He started Nursery 1 at 3 years. He will be in SS1 by September while those he is senior to that their parents sent to school before him that made my wife to be pressuring me are going to JSS 3.

ikorodureporta:
any/both

I may be biased sha being a catholic.

For all girls, you can take a look at Holy Child College, SW, Ikoyi(Day and Boarding), Marywood, Ebutte Metta(full boarding), Bethlehem Girls College, Abule-Ado(full boarding). For mixed(boys and girls), you can take a look at EHJ, Ibowon Epe, Mater Ecclesiae, Epe, St Francis catholic secondary school, Idimu.

For non missionary, you can take a look at Atlantic Hall(boys and girls, full boarding).

Btw, i have a daughter in Holy Child College, SW Ikoyi.

Admission for 2018/2019 session has been concluded in most of these schools as competition for space is high.