Fbn bid failed too

kisszhira:
Fbn bid failed too

At what rate?

VeeVeeMyLuv:

At what rate?

At the bank's rate nah.

I don't know the rate they bidded

kisszhira:


At the bank's rate nah.

I don't know the rate they bidded

okay

Its a little bizarre that there is currently little demand for TBills (amount offered/amount allotted) given current stop rates...

efismikoko:
Today

skydiver01:
Its a little bizarre that there is currently little demand for TBills (amount offered/amount allotted) given current stop rates...

was very surprised too for not seeing oversubscription maybe due to failed bid from some banks as they might be bidding over 14%

My bank firstbank bid for at 9% in secondary market seeing this 13% I am so angry, but its well, can i cancel it and ask them to bid again?

rate should be above 15% before next MPC meeting, almost all the bank fail in last primary market bid because most were bidding over 14% and that’s why we see less subscription from the offer

A very good alternative to tbills is Money Market Fund.

SOME REASONS WHY I WILL PREFER MMF ARE:

You can start mmf with much lower amount compared to tbills. With 5,000 you can start investing in Coral mmf. The least for tbills is 100k.

When rate increases, it will not affect already invested funds in tbills but it does with mmf

You can't top up with tbills. Top up is very possible with mmf even if you want daily top up.

Terminating before tenor expiration in tbills comes with penalties. For mmf after just 30 days, exit is without penalties.

mmf has other instruments like commercial papers that contributes to its rate.

You can easily automate reinvestment of interest in mmf ie taking advantage of the power of compound interest.

It's the investor that determines mmf tenor hence you can hold mmf as long as you wish no restrictions, tbills particularly primary auction has fixed tenors 3 months, 6 months or 1 year.

Right now mmf rates is on the rise.

CORAL MONEY MARKET FUND

Coral money market fund as the name implies is a mmf

Principal underlying asset is treasury bills and commercial papers hence there is little or no risk at all. You can only lose money if the country no longer exist.

The interest is daily valued. It's currently 11.56% and it's upward looking base on economic realities right now – MPR 15.5%. Interest can't be fixed because of market forces on tbills but be rest assured there will always be interest and your capital is guaranteed.

If you are conservative with a low-risk appetite then Coral mmf is best for you.


You earn interest daily but it's paid every quarter on the first day of the next quarter ie Jan 1st, April 1st, July 1st, and Oct.1st. You can also give instructions for your interest to be reinvested (compounding) which will be done automatically or for monthly interest payment.

Your capital and interest are guaranteed.

The minimum holding period is 30 days and the initial deposit from 5,000.

Parties to the fund:

Fund manager – FSDH Asset Management
Trustees: UTL trustees
custodian: UBA
regulator: SEC

You can do everything online- register and monitor your account.

Depositing money is not restricted it can be any amount and at any interval without a specific pattern.
Whenever you invest in the fund, your interest is prorated to cover the period of your investment before the payment date.
That means if you register and invest say 17th October 2022 you will be paid interest from 17th to 31st of December 2022 on 1st of January 2023 for that period and continues till another payment date.

You can invest in Coral money market fund with the current rate of 11.56%

To open an account, click on the link on my signature/contact me.
KYC requirements for online registration are:
- Passport photo
- Utility bill not older than 3 months, other documents you can use in place of utility bill are: NIN if you didn’t use it as your ID and the front page of your signed bank account statement.
In any of the cases, the address on the utility bill or any equivalent should be the same as what you indicated on the registration form.
- ID card can be any of these - national ID, driver’s license, voters card, Int’l passport
- your signature
you can also reach me with the phone number on my signature if you need for clarification.

Guys is it possible to buy 5 year’s treasury bills or just the normal 90, 180, 365 days allowed??

There is no 5 year treasury bill. You may research the bond market to see if it suits you.

Horlartunes:
Guys is it possible to buy 5 year’s treasury bills or just the normal 90, 180, 365 days allowed??

TBs are short termed. The highest tenure you can get is 364/1 year.

268 days for 15.89.....%

DLM commercial paper

RayRay06677:
268 days for 15.89.....%

DLM commercial paper

Where can i subscribe to this?

RayRay06677:
268 days for 15.89.....%

DLM commercial paper

What is DLM?

Don't Loan Money

keeper303:


What is DLM?

comatekeke:

Where can i subscribe to this?

Afrinvest

comatekeke:

Where can i subscribe to this?

Contact Afrinvest. The closing date is tomorrow Tuesday 18/10/22. So you have to contact them ASAP if you are interested so they could send you forms to fill and return/scan & mail back.

They could still reopen later it if the not completely subscribed sha...

freeman67:


Contact Afrinvest. The closing date is tomorrow Tuesday 18/10/22. So you have to contact them ASAP if you are interested so they could send you forms to fill and return/scan & mail back.

They could still reopen later it if the not completely subscribed sha...

Thanks.

Is there a nairaland thread for commercial papers?

Wapgod:
Is there a nairaland thread for commerpcial papers?

Create one

Wapgod:
Is there a nairaland thread for commercial papers?

There is one though not quite active.

https://www.nairaland.com/5010648/commercial-papers

Nigerian Economy

Wapgod:
Is there a nairaland thread for commercial papers?

Yes there is. Just that it's not frequently updated.

Please when is the next treasury bill auction?

Donbrig:
Please when is the next treasury bill auction?

Next Wednesday 26th October 2022

Naira don dey enter 750. Wetin be hope for common man Naira for account now nitori olorun?

Change to usd and keep for dom account wey CBN fit lock anytime? Or wey bank can tell you they have no usd when you wan withdraw money to pay rent and school fees?

Or change and keep the USD inside mattress and die of stress and high blood pressure if armed robber no collect am from you?

Which way Naija?

May strong yamayama fall on the heads of those bastards wey do Naija this kind thing

emmasoft:

Next Wednesday 26th October 2022

Do you think the rate may go up?

Biakwa:


Do you think the rate may go up?

Most likely........I'm hoping for 15% b4 the next cbn monetary policy y meeting

Biakwa:


Do you think the rate may go up?

Going by current MPR and inflation, with other economic realities rate suppose increase.

However it depends also if the government is willing to increase cost of local borrowing.

What mutual fund has the highest rate rn