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Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by yinkaoke(f): 10:32am On Oct 26, 2023 |
2 Likes |
Re: Treasury Bills In Nigeria by IamR: 11:08am On Oct 26, 2023 |
RayRay06677:Pls have you heard anything? 1 Like |
Re: Treasury Bills In Nigeria by Meerahbel: 5:43pm On Oct 26, 2023 |
Wotowotoman: |
Re: Treasury Bills In Nigeria by Wotowotoman1: 6:38pm On Oct 26, 2023 |
Dum20: Think about this stupid statement for one minute and tell me you don’t feel dull. If they spread the 1.5% around all investors, does it not mean that all investors are paying 1.5% on their balance? How can it be negligible Please learn to use the brain God put in that your bald head for free before them use Yamayama chop you Mugu for this world 2 Likes |
Re: Treasury Bills In Nigeria by Wotowotoman1: 6:46pm On Oct 26, 2023 |
emmasoft: US T bills are risk free. Stop yearning dust please 1 Like 1 Share |
Re: Treasury Bills In Nigeria by Wotowotoman1: 6:50pm On Oct 26, 2023 |
jedisco: They are called high yield bonds for a reason. Many investors are actually buying and trading these junk bonds. The higher the risks, the higher the returns… |
Re: Treasury Bills In Nigeria by Wotowotoman1: 6:51pm On Oct 26, 2023 |
freeman67: |
Re: Treasury Bills In Nigeria by Wotowotoman1: 6:55pm On Oct 26, 2023 |
Dum20: What kind of returns are they even making from these bonds to be taking 3.5% in fees? This is why they will take unnecessary risks to justify the very high expense ratio. I can guarantee that they are not making money for the fund but just chopping people money. By the time they finish your money with those ridiculous fees, you go learn say Yamayama and potopoto no be brothers 2 Likes |
Re: Treasury Bills In Nigeria by grandstar(m): 10:53pm On Oct 26, 2023 |
jedisco: You want the country to go back to its vomit. The reason why countries export is to have money to pay for its imports. Imports aren't killing the country. It is the country's inability to export. Ability to make things is engineering. The problem here is not engineering but economics. First, when you ban this or ban that, it is not as much as you're encouraging local production. What you're really doing is disrupting the very efficient supply chain that that makes companies competitive and thrive. For instance, you mention milk. You want Nestle to source milk locally. Are you for real? If Nestle needs 10,000mt of milk locally, which Nigerian company can supply it? None. It will take decades and billions of dollars for the country to reach the level it would take to meet such demand. You want to tax imported petrol or refined product? The local refiners will gouge Nigerians like Dangote and Bua have done. That is what protectionism does. Nigerians got a very raw deal from the cement ban that just made 2 men billionaires. An import duty of 5% on refined oil is enough. More importantly, their primary market should be overseas and not local. The nation needs to export refined oil. There are a million and one products to produce. To do best, countries should focus on where they have comparative advantage. That is what makes countries wealthy and not when you have to even manufacture toothpicks. That is why countries that open up their markets to foreign imports do best. It compels them to focus on areas they have comparative advantage. Also, imports fuel economic growth. For instance, in the EU, there's zero percent import duty amongst members. Due to this, Germany can not wake up one morning and ban the importation of clothing from France with complaints it is affecting local producers. Germany manufacturers are forced to produce products it has comparative advantage in. One would say Germany has opened up its $4.4 trillion economy to the EU, what does it gain in return? It gains unfettered access to the $18.25 trillion EU. That is why the British economy is suffering today. Adjustment to Brexit has been painful. It does not have free access to the EU market again. Many companies started manufacturing in the UK to gain access to the EU economy. Now that it is gone, many want to leave and none want to come in. Also, EU companies exporting to the UK are facing difficulties. 11 Likes 6 Shares |
Re: Treasury Bills In Nigeria by jedisco(m): 7:26am On Oct 27, 2023 |
grandstar: I think you're conflating two issues here.. protectionism and free trade. Both are not mutually exclusive. The world is a competitive place and development does not occur in a vacum. Japan, China, EU, Australia, UK, UAE, US, Malaysia/Singapore, India have had good economic development over the last 50 yrs. Pick any of those and I'd detail you several pages on deliberatw actions they took to protect their local market + labour and benefits it brought. Even traditional allies like UK, AUS and US took years to recently eck out a trade deal as everyone was protecting their corner. A country as big as Nigeria has to take deliberate steps to protect its market. Without that, our farmers have no chance of competing with those from Netherlands. Free trade though with it's merits has many times been used to permit the exploitation of poorer nations by multinationals who are only interested in extracing raw materials at cheap prises or selling finished goods. Get their cocoa, sell them chocolate repatriate profits abroad and call them poor. 4 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 7:33am On Oct 27, 2023 |
Dum20: Those fees are very exorbitant in investment terms. I'd hardly consider anything with a management fee above 0.3%. 1 Like |
Re: Treasury Bills In Nigeria by Wotowotoman1: 8:38am On Oct 27, 2023 |
jedisco: You will never find 0.3% mgt fee in Nigeria. In fact, no actively managed mutual fund anywhere in the world will charge that low. How will they cover their overheads? Only index funds/ETFs can charge that low as these are not managed funds… |
Re: Treasury Bills In Nigeria by CodeTemplar: 10:08am On Oct 27, 2023 |
grandstar:You and the person you replied to said many things that are valid but not practical or the best. Taking the aspect about comparative advantage for example. In Nigeria, we have one of the best cocoa in the world and we all know cocoa only thrives in areas around the earth's equator, so our position on the earth's surface cements our status as a cocoa giant. What have we been able to make of cocoa? If I must answer that, very little yet we have comparative advantage in its production. I saw one programme on NTA some years back and a top cocoa producer was invited in that episode. I think Tuesday Insight or something like that was the programme. In that episode, he shared insight into some of the challenges they faced in making the most of cocoa. One that stuck with me was the issue of extortion from task forces as cocoa was moving from Ondo through Ogun to Lagos for export. He then specifically claimed one has to go through about 19 task forces who come with various demands. Now with such an extortionists system in place, how do we ever fulfil our cocoa potential? Mind you, this person isn't trying to process the cocoa into final consumer products o. That will probably involve more steps like machinery imports, technical employees, power supply, imports of other complementary raw materials. Now chocolate industry is worth around $100billion globally from research and if we control 22% of the choicest raw material of chocolate, it means we have potential to corner 22% of the global market. But what do we have? The normal Nigerian story of not knowing what to do with valuable raw materials other than desperate exportation that is beleaguered with corruption, extortion and leakages. Comparative advantage to us, is just a textbook idea that our internal problems(corruption) will never let us really enjoy. Until we match learning with character and attitude, we are just rationalizing textbook concepts as solutions to issues. The Europeans had functional societies that allows production take place first before extortion comes(mafia system), ours is the reverse. 8 Likes 1 Share |
Re: Treasury Bills In Nigeria by grandstar(m): 3:34pm On Oct 27, 2023 |
jedisco: In your second paragraph, you mentioned a list of countries that have used protectionism to protect their local markets. For Japan and to a lesser extent China, their mercantilist past and present is well documented. But how much did protectionism play in making these nations where they are today? The truth is not much. You must also be aware that protectionism practised by Japan, South Korea and even China was not much about protecting local markets but to gain global domination in certain industries. South Korea became a world leader in cars using this model. The only industry notorious for protectionism globally is agriculture and perhaps cars. But did protectionism work as well as many argue? The truth is no. South Korea's model of growth created Chaebol's that have an overbearing hold on the economy. In Japan, it has led to economic stagnation has the economy has failed to liberalize and deregulate. In China, retaliatory tariffs (it was wrong) by the Trump administration seemed to have hit China hard but it did not seem so at first. Many manufacturers dumped China and went to Mexico or to countries in Southeast Asia. China ruined things for itself with their standoff with the US over Taiwan with compelled the US to apply some technological sanctions on China. US does not want China to control the microchip market through unfair means as it as done several industries. It seems China's long term decline has begun. You mention EU, Australia, UK, UAE, US, Malaysia/Singapore. They aren't known for protectionism. If they do or did, they are too miniscule to be worth mentioning. You mention if Nigeria does not protect farmers, they have little chance of competing with farmers from the Netherlands. Netherlands is a temperate country. Nigeria is tropical. There are over 100 crops Nigerian farmers can grow. Why produce ones that directly compete with Netherlands. Nigeria should be a world leader in cashew, sesame seed, shea butter and so on. Why should Nigeria lose sleep over the Netherlands. If Nigeria needs assistance, it can travel to that country to acquire the know how increase yields. Your last paragraph is troubling. You repeat this myth of multinational that want to come to the third world and rip them off. First and foremost, the multinational is not here to make your country great. They here because it would boost their bottom line. Again, Nestle and many foreign companies are here making finished goods. So, your statement is wrong. If you want them to manufacture finished goods, are the local markets big enough to warrant this? 8 Likes 2 Shares |
Re: Treasury Bills In Nigeria by emiron18(m): 4:03pm On Oct 27, 2023 |
Taaooma tells how much Cristiano Ronaldo earns and how Click to watch https://www.youtube.com/watch?v=C0fuXzl7Zcg |
Re: Treasury Bills In Nigeria by grandstar(m): 11:37pm On Oct 27, 2023 |
jedisco: Nestle is Swiss. 1 Like |
Re: Treasury Bills In Nigeria by RayRay06677(m): 3:28am On Oct 28, 2023 |
IamR: This is the feedback I got though I dont understand the message " They alloted for all retail inevstor, They are still perfecting submission with NGX" What does that mean? |
Re: Treasury Bills In Nigeria by jedisco(m): 11:55am On Oct 28, 2023 |
grandstar: I'm struggling to understand the point you're driving. The utopia where there is free movement of people, goods, capital and freedom to establish and provide services has so far not been institutionalised across economic blocks. If it has, as a Nigerian, I can freely go to work in the US for a month and then port to Switzerland e.t.c. until we get to that point, every nation has to fight its course. Free-trade and protectionism are not mutually exclusive. Every successful nation bar none has found the right mix for them. In the West, the cliche phrase is in 'the interests of the US(UK/EU..) and our allies.' No one asks what these interests are. The US has toppled many governments to protect their interests. Lets take the UK as an example. Pre-brexit, they had the resident labour market test for every work visa. Which simply meant that before any non-EU person was given a work visa, an employer had to satisfy there was no Brit/EU national willing to do the job- protection of labour. The UK FA at a point felt the premier league didn't have enough homegrown talent to the detriment of the national team and hence introduced the homegrown rule to force clubs to use locals. Recently, the UK and AUS signed a trade deal and the focal point was what effect it'd have on local farmers and how to protect them. There are millions of subsidies the western nations pump into their farmers and more recently electric vehicles e.t.c all to give them a global advantage. If a company has only been interested in selling processed milk to Nigerians for decades at the detriment of our forex and with no thought of supporting local content as they do in their home nation, then I see no reason why the government cannot take a strategic move against them. Another is international aviation. The issue is that mostly African nations are sold the utopia of freetrade when their resources are being exploited and have struggled to identify the everyday instances where the West protects its market. Moreso, when we practice protectionism, we don't do it properly. E.g African viation which is hamstung by exorbitant fees. 7 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 12:07pm On Oct 28, 2023 |
CodeTemplar: The issue here is that we have to start from somewhere. I'm no fan of the monopoly OBJ gave Dangote but from a nationalistic perspective, its helped the nation gain sustainability in cement production else foreign companies would have still been telling us how corruption is the reason they can't produce in Nigeria but want to import and sell here. The cocoa issue is one that has had more dispute of late. West Africa produces over 80% of cocoa. The multinationals are insistent on paying pennies to the farmers and have fought every move to pay a reasonable sum. They'd rather return and give 'aid'. African nations are not going get the production capacity of the West overnight. They have to build from somewhere. It's largely how pure undiluted capitalism works and not just an issue here. Western nations have increasingly levied imports from certain nations hence incentivising/forcing producers to make goods locally and not import finished goods. 5 Likes 1 Share |
Re: Treasury Bills In Nigeria by jedisco(m): 12:13pm On Oct 28, 2023 |
Wotowotoman1: Local mgt fees are exorbitant and are hardly robust. I remember asking recently if we have a traded index for the NGX but it seems there's none. Talk more of one that incorporates other continental and international markets. I don't do active funds as I dont see the advantage. 2 Likes |
Re: Treasury Bills In Nigeria by CodeTemplar: 12:26pm On Oct 28, 2023 |
jedisco:The buyers of cocoa do not owe farmers anything. In open market that's how it is. Even in nigeria, the middlemen milk the farmers with manipulation of market forces. They can feign lack of demand to drive prices down once the buyers are few. Instead of blaming those turning our raw products into finished goods I think we should aspire to do the processing. It is just like petrol debacle. We sell cheap crude and buy expensive petrol then start crying while pretending corruption that's stopping us from refining crude is an unstoppable force. It is like a yam farmer selling yam to canteen and eating pounded yam complaining about the service the canteen is rendering him. The canteen may never complain about the cost of yam because they always recover their own money back from the farmer when he eats pounded yam. 2 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 12:56pm On Oct 28, 2023 |
CodeTemplar: Exactly my point- if the multinationals owe us nothing, then government intervention is key. There is nothing like a 'free market or open market' in any part of the world. Multinationals and the economy is sustained on the back of government intervention. To what extent is usually the debate. Just like the government did with Lafarge, a suitable move could be taken against the likes of Nestle. Same thing with cocoa- wether its by reducing local taxation, forming an opec-like organisation, building infrastructure, introducing a special export/import levy in association with others and using same to incentivise manufacturers willing to set up shop e.t.c the government has to take moves to protect and build it's market 4 Likes 1 Share |
Re: Treasury Bills In Nigeria by grandstar(m): 8:58pm On Oct 28, 2023 |
jedisco: Your view of foreign investment and trade seems to be based on fantasy and not reality. Why should Nestle produce the milk it uses locally? Nestle is not into milk production. That its not its core competence. No where in the world does Nestle produce milk. It buys it from farmers. What is hurting Nigeria's forex is that the country does not export enough. The multinational does not owe Nigeria a duty to produce milk. You protectionists focus on the demand side of forex and not the supply side. The movement of labor within EU was quite free and not as stringent as you put it, especially when the UK was still part of the EU. Yes, some rich EU economies did delay free movement of labor from new arrivals to the bloc but was eventual open. The UK opened its doors to the new arrivals from Central Europe into the EU in 2005 or so, which was the year they joined. They quickly swamped the local job market and public service. Romania and Bulgaria joined the EU in 2007 but the UK waited till 2014 or so for the new arrivals to come in legally and work. They quickly swamped the labour market as well. I was in England in 2014 and in the 2 hotels I stayed in London, they had cleaning staff who were Romanians. Protectionism has failed Nigeria. It is so blatantly clear that I wonder why you keep trying to preach the gospel of it. The government was forced to lift up the restrictions on the 43 products because it was doing more harm than good. As I have said, protectionism, especially the type you fancy simply destroys the critical and efficient supply chain. When you destroy the supply chain, you might as well just kill the business. Your last paragraph is based on a myth. What made South Korea and Japan prosperous today? By taking advantage of the open US market. Even China did the same. What is stopping Africa from doing likewise? Africa has duty free access to most of its exports to the US and UK. It has yet to exploit them. Only Lesotho and Ethiopia are having headway. 6 Likes |
Re: Treasury Bills In Nigeria by Olaide1295: 1:08pm On Oct 29, 2023 |
Wotowotoman1:That it is low risk does not mean it is risk free. Do you consider Naira T-bills risk free? Both countries will rather just print than default. 2 Likes |
Re: Treasury Bills In Nigeria by narite: 2:47pm On Oct 29, 2023 |
grandstar:Interesting read. I agree with all you said. The point is comparative advantage makes countries rich. You can’t just ban goods and start to expect prosperity. You need to have something others badly want, only then can your income grow and even bend the rules to favour you. Yes, too much import is bad but cutting down on import won’t make a country grow that much (it like cutting down on spending). It an increasing income and investing this income that makes one prosper. A country needs to focus on it export, encouraging innovation, global competition and not just banning goods only making few people who has the capacity to produce large inferior goods extremely rich. 2 Likes 2 Shares |
Re: Treasury Bills In Nigeria by Wotowotoman1: 4:54pm On Oct 30, 2023 |
Olaide1295: How dare you compare US T bills with naija t bills. Yamayama fall on that your dull bald head for writing this nonsense Anybody wey know finance and markets knows that US T-bills are risk free. At least try use google to confirm before displaying your ignorance |
Re: Treasury Bills In Nigeria by janga(m): 5:20pm On Oct 30, 2023 |
which type of risk investing your fund in Ijara with mininum of 545days under those stock brokers & fundmanager like investment-one in their fixed income fund. how safe is our fund with them within that 2years 1 Like |
Re: Treasury Bills In Nigeria by jedisco(m): 5:02am On Oct 31, 2023 |
grandstar: Like you unkwowingly alluded with the EU, there is no such thing as a 'free market' in any part of the world. When you're being sold a 'free market' look who's selling and who stands to benefit. For countries who became self sufficient in exporting several items, it was not gifted by free trade but by the success of deft policies by their government in an ever competitive world. The only major item we are self sufficient in both production and exportation is cement. Fact that was the result of an incisive move by the government says alot. For 400yrs that 'free trade' was imposed on colonised nations, it only yielded more poverty. Take milk sufficiency for e.g. very broadly, A duty levy on imported milk while at thesame time excluding products made from locally sourced milk from VAT while not excluding other aspects such as farm inputs, security e.t.c. is a way to go. A high enough and sliding levy would force the likes of Nestle to dig into their profits to support farmers. Blanket banning items like PMB did in the hope that we'd miraculously begin to manufacture them is a brain-dead approach that has never worked. Didn't surprise me when ethnic bigots here jubilated thinking it was going to hurt others. To achieve success, for each industry there has to be a well thought out, monitored and regularly reviewed policy with an end goal in mind. E.g cement. I'm all for trade integration and less barriers but that has to be done from a position of knowledge and strength or we end up with another 400yrs of exploitation. It's the reality of the world we live in. 1 Like |
Re: Treasury Bills In Nigeria by debbydee(f): 6:35pm On Oct 31, 2023 |
Good evening Please when is the next auction date for TBills. Also is there any bank that is recommended. Thanks 1 Like |
Re: Treasury Bills In Nigeria by enque(f): 6:42pm On Oct 31, 2023 |
debbydee: i think there was an auction last week |
Re: Treasury Bills In Nigeria by richforever123: 7:12pm On Oct 31, 2023 |
Good evening Gentlemen, what is the Risk Profile for OMO Bills? 1 Like |
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