Olaide1295:
Chairman @emmasoft, I'm hearing 16.5-17% and want to buy fixed income. I opened an investment-one account (through your link) but the account is empty.

I have some naira and want fixed income. I need help with this investment one o. I sent them an email some days ago, no response.

Apologies for the nonresponse from the team.
Please chat me up so that I can get more details of what you want and to escalate accordingly.

Thank you for your patronage.

spbabt:
Hello all... Please from experience, between First bank and GT bank...who offer better Tbill rates?

Any response pls!!!

spbabt:
Hello all... Please from experience, between First bank and GT bank...who offer better Tbill rates?

Rates change from time to time, so I don't think there is a 1 size fits all determinant to who gives better rates.
Best bet is to go make your enquiry from the banks you have listed, whatever feedback you get from them will have you make a better decision on who to go with.

Chikebrain:
Good day house. Seeking your opinion on an investment I made.
I did TB with zenith bank around sept at 9.7% as I thought rate will nosedive below that by the end of the year. Now rate is around 16%. Is it wise to end the TB investment (Taking my loss) and reinvest it hoping rate will be around 16% or more. I've been calculating but the maths is just messing my head up.
Amount invested is XX,000,000

An update to the above:

I reached out to Zenith Bank to liquidate my TB I invested this Sept and I was told I'd be loosing over N2M from my capital for having to liquidate it so I'd get ( XX,000,000 - 2M+).
I actually thought you only make a loss of the incurred interest or am I wrong ?

Chikebrain:

An update to the above:

I reached out to Zenith Bank to liquidate my TB I invested this Sept and I was told I'd be loosing over N2M from my capital for having to liquidate it so I'd get ( XX,000,000 - 2M+).
I actually thought you only make a loss of the incurred interest or am I wrong ?

If the value of your upfront interest is around 2m

Then hold your peace, go ahead and opt out of the investment.

Chikebrain:

An update to the above:

I reached out to Zenith Bank to liquidate my TB I invested this Sept and I was told I'd be loosing over N2M from my capital for having to liquidate it so I'd get ( XX,000,000 - 2M+).
I actually thought you only make a loss of the incurred interest or am I wrong ?

It's dicey somehow. The things to consider are;

No 1. is that you have collected interest upfront when you invested. However, if it's just that, plus and minus will settle it.

No 2. Is that rates have gone higher than what you invested. If the bank is to retail OTC, nobody would want to invest at that low rate now knowing that there are better offer available. So if the rate it is to be resold is considered, you will loose money. You didn't mention the rate you got it and rate they are to resale it but that's how it will be. E.g if you got it at 13% about 2 months ago and the prevailing market rate now is about 15-16%. You will definitely loose money.


Going by the 2 reasons above and the possibility that the money might be big, Liquidating now might cost that much. So it's left for you to decide whether to endure the loss or let the investment run its course.

Chikebrain:

An update to the above:

I reached out to Zenith Bank to liquidate my TB I invested this Sept and I was told I'd be loosing over N2M from my capital for having to liquidate it so I'd get ( XX,000,000 - 2M+).
I actually thought you only make a loss of the incurred interest or am I wrong ?

If the parameters, the rate in particular as at the time you subscribe to the tbills and this time you are terminating is not the same you are bound to lose some money. The truth is that you can not outsmart the system. Remember you collected interest upfront, if that interest is to be invested that means more money and that is part of your gain only if you hold to maturity otherwise the issuer sees that upfront cash as borrowed money and all borrowed money has an interest commitment.

The senerio that just played out is the reason most investors prefer MMF because of the easy entry and exit incase opportunity of better rate presents itself in another investment window.

So you can go ahead and make your decision it's a matter of opportunity cost. All investment decisions has a price.

Greetings All....

Does anyone have any idea when the LAST and NEXT treasury bills will be held for the year 2023...?

Good day financial guru,

Pls I need an insight to a very urgent matter.

Pls Which other method can I use to transfer above #100,000 from gtbank app without hardware token?

Have been to several gtbank nd was told no hardware token for now nd am having a serious issues transferring over #100,000 from gtworld app at once in a day.

Currently PIN ACTIVATION on gtworld is no longer possible, only ussd token or hardware token.

Akerewe:
Good day financial guru,

Pls I need an insight to a very urgent matter.

Pls Which other method can I use to transfer above #100,000 from gtbank app without hardware token?

Have been to several gtbank nd was told no hardware token for now nd am having a serious issues transferring over #100,000 from gtworld app at once in a day.

Currently PIN ACTIVATION on gtworld is no longer possible, only ussd token or hardware token.

Kilode.


What type of account did you open?

Did you submit your utility bills, NIN, passport, references etc before opening the account,


You should be able to transfer up to N5 million through the banking app


First Bank USSD you can even transfer minimum of 100k and then visit the bank to help you upgrade to more than that

Gavrelino123:
Greetings All....

Does anyone have any idea when the LAST and NEXT treasury bills will be held for the year 2023...?

Someone here mentioned 22nd November

emmanuelewumi:



Kilode.


What type of account did you open?

Did you submit your utility bills, NIN, passport, references etc before opening the account,


You should be able to transfer up to N5 million through the banking app


First Bank USSD you can even transfer minimum of 100k and then visit the bank to help you upgrade to more than that

Longest time Oga Ema, thanks for the swift response.


The account is a tier 3 account nd all KYC is completed oo. Infact it has unlimited deposit capacity but the problem is this lower limit transfer of #100,000 per day. Av called gtbank customer care tire nd I even went to their branch to either change from ussd code to pin to enable me enjoy limitless transfer, all not possible not even hardware token available.

Am stucked right now because I need to move the money out of gtbank as soon as possible nd if am to do it @100k daily, from now till December am still on it.

I regret using gtbank for large sum oo. Am a STANBIC user nd I never encounter this type of problem ever.

Akerewe:


Longest time Oga Ema, thanks for the swift response.


The account is a tier 3 account nd all KYC is completed oo. Infact it has unlimited deposit capacity but the problem is this lower limit transfer of #100,000 per day. Av called gtbank customer care tire nd I even went to their branch to either change from ussd code to pin to enable me enjoy limitless transfer, all not possible not even hardware token available.

Am stucked right now because I need to move the money out of gtbank as soon as possible nd if am to do it @100k daily, from now till December am still on it.

I regret using gtbank for large sum oo. Am a STANBIC user nd I never encounter this type of problem ever.

This is strange to me.
I'm also using gtb mobile app and I can transfer up to 5m daily if need be.

Seems like you did not upgrade your daily limit

Akerewe:
Good day financial guru,

Pls I need an insight to a very urgent matter.

Pls Which other method can I use to transfer above #100,000 from gtbank app without hardware token?

Have been to several gtbank nd was told no hardware token for now nd am having a serious issues transferring over #100,000 from gtworld app at once in a day.

Currently PIN ACTIVATION on gtworld is no longer possible, only ussd token or hardware token.

It is not a rule that you need a hardware token before you can transfer above 100K from your GTBank account.

I also have an account with them and have done single transfers of 2million without a hardware or software token.

What you should do is to log into your account go to the settings for daily limit and increase it to 2 or 5 million.

If this fails then tomorrow go to any of their branches and request a transfer form, fill it with the details of the account you want to transfer to then ask them to process it

oluayebenz:


This is strange to me.
I'm also using gtb mobile app and I can transfer up to 5m daily if need be.

Seems like you did not upgrade your daily limit

U can transfer up to 5million if u r using PIN or HARDWARE TOKEN but not possible with ussd token as it's limit to 100k daily.

The transfer PIN authorisation is disabled currently if not I could have opt for the pin authorisation. Thanks

SavageResponse:


It is not a rule that you need a hardware token before you can transfer above 100K from your GTBank account.

I also have an account with them and have done single transfers of 2million without a hardware or software token.

What you should do is to log into your account go to the settings for daily limit increase it to 2 or 5 million.

If this fails then tomorrow go to any of their branches and request a transfer form, fill it with the details of the account you want to transfer to then ask them to process it

Increasing daily transfer limit is different. U can increase ur daily transfer limit but without PIN or HARDWARE TOKEN u can't transfer above 100k daily.

Am not a novice in that aspect either, I understand the web environment more than that.

U can only transfer up to 2million on gtb app if u r using PIN OR HARDWARE TOKEN authorisation. No other way around it. The software token is pegged to 100k daily. I don't use gtbank in my financial stuff, I use only Stanbic as u can transfer limitless on their app.

Thanks for the insight. I don't have time to visit their branch in person again due to distance and my busy schedule as all the banks in my side of Ogun state was vandalized recently and they are inoperative at the moment especially gtbank.

Just this evening I have resulted to USING POS MACHINE to move the funds, although with a cost and I think that is the best I can do. Thanks all

Tbills Primary Auction

For investors that wiah to participate in the next Tbills primaru=y auction.
Make your you at your bank branch latest Tuesday 21, Nov. 2023 by 10am to subscribe.

Akerewe:


Increasing daily transfer limit is different. U can increase ur daily transfer limit but without PIN or HARDWARE TOKEN u can't transfer above 100k daily.

Am not a novice in that aspect either, I understand the web environment more than that.

U can only transfer up to 2million on gtb app if u r using PIN OR HARDWARE TOKEN authorisation. No other way around it. The software token is pegged to 100k daily. I don't use gtbank in my financial stuff, I use only Stanbic as u can transfer limitless on their app.

Thanks for the insight. I don't have time to visit their branch in person again due to distance and my busy schedule as all the banks in my side of Ogun state was vandalized recently and they are inoperative at the moment especially gtbank.

Just this evening I have resulted to USING POS MACHINE to move the funds, although with a cost and I think that is the best I can do. Thanks all

Well I don't know the version of bank app you are using but I can tell you categorically that I have done transfers on my bank app of up to 2million and I only needed to use my PIN.

If you own app has been configured to only work with token then I would suggest you go to Google Play store and download a GTBank soft token but I think you need to link it to your account before you can use it

Tbills Primary Auction

For investors that wish to participate in the next Tbills primary auction, make sure you are at your bank branch on or before Tuesday this week latest by 10am to subscribe otherwise you wait till next year or buy at the secondary market.
To be on the safe side always go with the bank rate.

Alternatively, if you want to benefit from Tbills, Commercial paper, and FGN Bonds at the same time you can opt for a money market fund or a Fixed income fund.
Click the links on my signature to open an account or contact me for details.

SavageResponse:


Well I don't know the version of bank app you are using but I can tell you categorically that I have done transfers on my bank app of up to 2million and I only needed to use my PIN.

If you own app has been configured to only work with token then I would suggest you go to Google Play store and download a GTBank soft token but I think you need to link it to your account before you can use it

We r saying the same thing. U can only use PIN to transfer up to that amount, changing from ussd token to PIN is no longer available on gtbank and d software E-token is no longer on playstore. Av called their customers care more than 5times and send several emails all proof abortive.

Am using gtco app, the newest one and all other gtbank app are no longer available on playstore not even the software token.

Thanks 🙏

The latest GT App is Gtworld and it's on playstore. They have been trying to phase out the GTCo app for a while, I guess it's finally done. On Gtworld app if you increase limit, the maximum used to be 5M before the latest update. I don't even know if you can increase limit on your own now again because that option seem to invisible on the app after the update.


You can try installing the Gtworld app and see if you will be able to use it.

Stanbic used to be the hardest of all of them. You can not do any big transaction except you have increased your limit. Increasing limit will require you to sign an undertaking letter with a witness before approval in the banking hall before they introduced their holdco all encompassing Stanbic IBTC app. However, I think there is an option to do it on the app now.

Why are Money market funds still at a 10-11% interest rates when TB is 16-17.5% interest rate.
Fbnquest is still at 10.25%

If I may, with the prevailing exchange rate and higher inflation eroding the insignificant upfront interest on TB, especially some of us in the 364 days bracket, how una dey cope?? I only wished I had saved in usd. I am in severe PAIN!!

Chikebrain:
Why are Money market funds still at a 10-11% interest rates when TB is 16-17.5% interest rate.
Fbnquest is still at 10.25%

I am still wondering why?

So what rate are you expecting for the auction that Dey dis week for 1 yr bill

sboga:
So what rate are you expecting for the auction that Dey dis week for 1 yr bill

20%

20% are you fo real?
discounted rate or yield?

Chikebrain:
Why are Money market funds still at a 10-11% interest rates when TB is 16-17.5% interest rate.
Fbnquest is still at 10.25%

The same question I have been asking. What is going on. Investnow has been 9.7% despite tills at 16%. I'll have to pull out my investment and follow tbills

Chikebrain:
Why are Money market funds still at a 10-11% interest rates when TB is 16-17.5% interest rate.
Fbnquest is still at 10.25%

I wonder

Nakedman:


The same question I have been asking. What is going on. Investnow has been 9.7% despite tills at 16%. I'll have to pull out my investment and follow tbills

Honestly that's what I intend to do. 10.25 is so poor as opposed to 17.5% on the secondary rate

VeeVeeMyLuv:

If the value of your upfront interest is around 2m

Then hold your peace, go ahead and opt out of the investment.

I recalculated it and it's best to leave it. Coz charges from VAT will eat into interest made

freeman67:


It's dicey somehow. The things to consider are;

No 1. is that you have collected interest upfront when you invested. However, if it's just that, plus and minus will settle it.

No 2. Is that rates have gone higher than what you invested. If the bank is to retail OTC, nobody would want to invest at that low rate now knowing that there are better offer available. So if the rate it is to be resold is considered, you will loose money. You didn't mention the rate you got it and rate they are to resale it but that's how it will be. E.g if you got it at 13% about 2 months ago and the prevailing market rate now is about 15-16%. You will definitely loose money.


Going by the 2 reasons above and the possibility that the money might be big, Liquidating now might cost that much. So it's left for you to decide whether to endure the loss or let the investment run its course.

I actually got it at 9.7% and rate is 17.5%. I decided to leave it. I'll invest another. It's just painful if only I had waited. I thought rates will crash to below 5% as it usually does every end of the year