₦airaland Forum

kristien4:
Hello please help me answer this question,will 18% for 364days for primary market yield same amount as secondary market 18% for 310days for like 1million?.. if no.. how do u calculate the difference??

Kevostica:
pls explain true yield better. i dont understand

Kevostica:
Pls why do people still key into TB at 17% or thereabaut while money market fund is 18.62 for Stanbic and 19.13% for fbn. Still mmf compounds quarterly which is another advantage against TB or is there anything i do not understand abaut them? pls explain

Olarewajub:
Hey Guys!

I submitted my application today (First Bank) and my account was debited immediately.


My confussion is no interest was paid, rather they took the whole sum i invested.

What should i do?

Olarewajub:
You guys should advise me on what to do.
The treasury bill officer asked where i got the info that there is going to be an auction on Thursday. I told him CBN website.
He told me that there won't be an auction this Thursday because its done bi-weekly..Nevertheless he advised i submit my application ; which I intend to do tomorrow


Please am safe with this option or should I consult another branch ?

Olarewajub:
I was informed at First Bank today that there is no auction for this week

jp130:
Here is d calendar, does it mean dat applications will b treated today?

https://nairametrics.com/nigerias-official-treasury-bills-calendar-for-2017/

RealityShot:
if i hear..

the dollar bond thingy has not even been approved (or has it?)

So whose bidding that low? On what premise?

MPR has not changed (and wont till january)..

Crude price has not reached 65dollars self..

so whatELSE is causing the sudden drop?

RealityShot:
Wow! Wow!

Banks have really started winning this battle oh!

1% drop in just 2weeks interval! Scary!

jp130:
Here is d calendar, does it mean dat applications will b treated today?

https://nairametrics.com/nigerias-official-treasury-bills-calendar-for-2017/

Alikote:
it seems there will no auction in December, investors take note

jp130:
Here is d calendar, does it mean dat applications will b treated today?

https://nairametrics.com/nigerias-official-treasury-bills-calendar-for-2017/

Jacktheripper:
Na your type dey pay half payment and dey receive half lesson....... Spits on OP this simple thing is what you created thread for, you should be flogged still your body and soul are ripped apart and then cast into the deepest part of hades for all eternity.

Marvel1206:
There is nothing like 150% as percentage is /100 so there's gotta be something wrong with the question.

apeiron24:
please nairalanders, i need help o.... my little brother brought this to my room this morning.. and hmmmmm.......

i worked it but i still need a confirmation. So that my brother will not get Zero from an assignment solved by his big uncle....

the mathematics is below. I have a reward for anyone that get it correctly.


waiting oooo

Gavrelino123:
Wow...nice
Have they updated your GTBANK ONLINE TREASURY BILLS ACCOUNT...?

Gavrelino123:
GTBANK is ok.....If you are in Lagos,Make sure that it's @ Island Branch,they are more professional when handling TB.....If you are @the Mainland, Festac Branch is ok...!!

TONY56:
If you still want to stay with your first bank, you don't need to open another account.

All you need do is to do your transactions through another branch where your account officer will not see you and don't act like a newbie when you meet the Treasury Bills officer.

You see, many people cause the hostilities they encounter when they want to start doing Treasury Bills by informing their accounts officer probably because they are not aware that it does not pay him and the bank for you to exit savings or fixed deposit for Treasury Bills.

When you want to exit fixed deposit for Treasury Bills, you will be doing yourself a lot of harm by telling your accounts officer your real intentions. [b]Just tell him that you are no longer interested in fixed deposits and want your money in savings for savings interests only so that you can take it within minutes anytime you need it without going to the bank to fill and sign papers [/b]and do your Treasury Bills through another bank

yomi007k:
I was at First bank this morning and was told forms for primary bid had already gone.
The manager persuaded me' vehemently' to do fixed deposit while I wait for 2 weeks time.

I later requested for secondary market and the told me to fill d form first before knowing the rate...


I think they are being shady ..so I didnt do anyone
.

kristien4:
And I just called my own stanbic and they are telling me there is no date yet for auction.

punae:
please confirmation if the 364 days tenor would be available

kristien4:
Please when is the next auction date??

jp130:
I submitted my application for 364days. Let me c hw it goes. Na Godwin

Gavrelino123:
Why don't you try other Branches to verify their claims...
And is monday not the deadline for submission of Forms..?

Acidosis:
Nobody can provide the right answers to your question


Truth is you actually may not NEED any, at least, for now.


Why don't you invest further?

Let's assume you pay rent of N300,000/annum. What type of house do you want to build/buy? A N10,000,000 bungalow? How much do you have? Same N10,000,000?

Don't try it! Your N10,000,000 investment on mutual funds, Federal Govt bonds, TBills and the rest will give you an annual interest of (at least) N1,500,000.

N1,500,000-N300,000 (rent) = N1,200,000.
Meaning your N10m savings can help you pay your rent for as long as possible without removing a kobo from your salary or the N10m itself, and you'd still be left with N1,200,000 (free money) to do whatever you want.

You can even use that N1,200,000 along with a new savings plan to start your building project, get a car sometime soon. Mind you, your N10m is still very much intact.

The rule is, do not use all your savings on a luxury (car or house), unless you expect instant returns. It is true that buildings appreciate but how many people build a personal house for the purpose of making profits? This is a country where people cherish inheritance over everything else. Like a taboo, no family wants to sell their personal house in Nigeria even if they're dying of hunger. Those who eventually consider such don't do it until after 40 years or more (when the owner must have departed this earth).

walexlo78:
NL1960, I am not against them making legal money. CBN regulation guides all banking operations. They are free to make money on the primary auctions based on the fees, commissions etc but not to make spread more so if other banks are not doing that. For secondary sales they are making as they want because they determine the sales price to the investor. Can you imagine how much money they make on the TB volume base?

walexlo78:
Hello GT customers, please don't panic about your investment not showing on your internet banking platform, it's the least of things that should worry you. It's a system glitch and you will wàke up one day to see it again. Am sure you would have received an electronic debit àlert and possibly investment statement. One thing you should ensure is to get your investment certificate always done on their letter head. I am a gtb customer for more than 10yrs and deal in TB with them since some years now so I have experienced several including this one.

However, I stopped dealing in TB with them because they started playing games. Example, in the last auction they offered 364days to investors at 18.1% as mentioned here while stanbic offered 18.28% thereabout. That's a big gap, it appears they are making some spread on investors fund because I do not see reason why they would bid this low at 18.1% when the last marginal rate from upper week's bid was about 18.5%.

chyima:
there is something I noticed about GTb rate it has never exceeded 18.1%,since the beginning of this year.is this on purpose or they trade above this rate and 'hijack' the excess above that for their company gain.
I had to start using Stanbic when it was becoming consistent,who else has noticed it

ihedioramma:
Please give me the mutual funds thread wibsite ?

Gavrelino123:
Good morning
Have you checked if it's reflecting on your Treasury Bills online banking Account..?
I'm worried because mine is not still reflecting only my old investments maturing next month is there..

emmanuelewumi:
Be humble and prepare to learn.