kman3000:
Good evening investment gurus, I’m a novice here but willing to learn the ropes of treasury bills. I’ve never done it before and have limited information. I need info regarding lowest amount to begin with and how to go about it generally while I get used to it. Looking forward to replies. Thank you.

emmasoft:


No sanction if the respective funds you redeemed stayed the minimum holding periods and no fund manager will sanction you for bringing in your money because that is what keeps them in business.

OgogoroFreak:
This is slightly above 9%

RayRay06677:


If your figure is correct then rate was 9.04%

kman3000:
Also, what’s the best way to save in dollars. I learnt so far that Dom accts offered by Nigerian banks aren’t really friendly in terms of stack differences between inflow exc rates to that of outflow rates. So how else to save in dollars?

emmanuelewumi:



With 100k and above you can start with First Bank or Stanbic IBTC Bank

LagosInter:


It's slightly less than 9%. It's around 8.98%

Dsticks47:

Yes sir.
Your capital is 100% preserved.

emmanuelewumi:



Capital and interest is guaranteed

pizapato:
The only idea coming to my head is getting a debit card for the domiciliary account, then use the debit card to buy stable crypto on exchange. Sell off the crypto some time and withdraw the dollar to Dom account as inflow.

This should also work for platforms like Bamboo and trove. In this case one will buy US stocks after crediting Trove/Bamboo account with the debit card

Two things I'm am unsure of about this is
1. If it is possible to use debit card linked to Dom account to buy crypt0 in Nigeria, considering most transaction is priced in dollar but transacted in naira.
2. If it is possible to withdraw dollar directly to Dom account from an exchange like binance.

Let the crypt experts please help us clarify

RayRay06677:


Add bank charges, thank you

kman3000:
thanks for the reply, so how do I go about it?

OgogoroFreak:
Happy celebrations

Mills55:
Please anybody with today's primary auction result? Let's know what the rate look like.

QuinModah:
Really?! Thank you.

Akerewe:
hearing this for the first time, thanks a lot Oga Emma

Salliet:


But at the secondary market it comes at a premium and I believe requires you to have a CSCS account.

LagosInter:


Bank charges aren't added in checking rates.

Salliet:


But at the secondary market it comes at a premium and I believe requires you to have a CSCS account.

Dsticks47:

Rate is currently 6.39% per annum.

LagosInter:


It's slightly less than 9%. It's around 8.98%

kisszhira:


RayRay06677 is right. You have to consider charges in your calculations bros. You know Barrytone aka RayRay0677 is an engineer. So, he understands that the energy losses have to be accounted for.

LagosInter:


Why not also include cost of transport to the bank too?

LagosInter:


Why not also include cost of transport to the bank too?

RayRay06677:



I initially accept your rights on the subject matter but I wouldn't be doing others still learning like me.
where do the charges come from?

For us that are learning: you bring your capital, bank invest it for you, interest is paid, bank takes their cut called charges and the remaining interest after the charges is paid to your account.

When calculating simple interest, you include the total interest being net interest plus bank charges.

I pray we understand.

Diyke4rich:
The rate is poor compare to tb

12fb:
Does anyone use M36 from Union Bank? I’m thinking of buying T-Bills from them.

LagosInter:


Why the furore and hullabaloo over nothing.

When you are asked of rates, you don't include processing and custody fees.

You only cite the surface rate.

Do you know that if you want to do holistic calculation, that true yield should be included as well?