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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4642641 Views)
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 freeman67: 9:44am On Nov 29, 2023 |
enque: That's good, Afrinvest also does that but they will bill you from all angles possible, they will charge you for the transaction even after the issuer have settled them. Then tell you that the investment is sublet to them because they are stockbrokers and not merchant bank so they have to bill to get their own. Thus, I prefer merchant banks like FBNQUEST, Coronation and the likes. Coronation usually don't do any other deductions apart from the principal because they are most times either the lead arranger or one of the arrangers and the cost is borne by the issuer from their end. However, on this tax thing, they do not stipulate it on the proof, and when you ask they'll refer you to their mail/advert where it's stated that ' Applicable taxes shall apply except where otherwise exempt'. How I want take the follow up on exempt and none exempted again? Infact there have been an instance that they have to come me to send them my TIN just when it was close to maturity. That is the only thing I don't fancy about them. 2 Likes |
Re: Treasury Bills In Nigeria by aieromon(m): 9:53am On Nov 29, 2023 |
freeman67: Nigerian banks have notified their customers that tax will now be charged on bonds and short-term securities on which tax is due, effective from January 2, 2022. https://businessday.ng/banking/article/banks-begin-charging-taxes-on-bonds-t-bills-as-exemption-expires/ |
Re: Treasury Bills In Nigeria by VeeVeeMyLuv(m): 10:01am On Nov 29, 2023 |
NL1960:This is not possible This is misleading 1 Like |
Re: Treasury Bills In Nigeria by Chikebrain: 10:08am On Nov 29, 2023 |
freeman67:Does FBNQUEST offer CP |
Re: Treasury Bills In Nigeria by ojesymsym: 11:15am On Nov 29, 2023 |
Just curios, what is misleading? VeeVeeMyLuv: |
Re: Treasury Bills In Nigeria by VeeVeeMyLuv(m): 11:36am On Nov 29, 2023 |
ojesymsym:He said an individual can get 72% return on investment for a period of one calender year. That's not possible. |
Re: Treasury Bills In Nigeria by ojesymsym: 11:53am On Nov 29, 2023 |
Check again. That is not what he said. He said some microfinance banks charge as much as 6% interest rate on loans per month which translates to 72%P.A. He then implied that if they can charge their customers that amount then perhaps they may be able to pay investors up to the amount that was in the sheet that he was replying to. VeeVeeMyLuv: 7 Likes |
Re: Treasury Bills In Nigeria by VeeVeeMyLuv(m): 11:57am On Nov 29, 2023 |
ojesymsym:Okay thanks |
Re: Treasury Bills In Nigeria by freeman67: 12:19pm On Nov 29, 2023 |
Chikebrain: Yes FBNQUEST Merchant Bank do help issuers to arrange CP's for intending investors. It doesn't seem common because you will have to at least indicated interest once or in a way have subscribed to their newsletter with your email add or phone number for you to be getting the information from them. If not, ordinarily you won't get the info except from other sources like Nairaland and co. 1 Like |
Re: Treasury Bills In Nigeria by NL1960: 1:02pm On Nov 29, 2023 |
VeeVeeMyLuv: Good that somebody has clarified my statement. 3 Likes 1 Share |
Re: Treasury Bills In Nigeria by Boyhood: 1:56pm On Nov 29, 2023 |
16.5% pa 3 Likes
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Re: Treasury Bills In Nigeria by davit: 5:29pm On Nov 29, 2023 |
Boyhood: Is this a Commercial Paper? |
Re: Treasury Bills In Nigeria by sboga: 5:38pm On Nov 29, 2023 |
Hope u know dat d t bill dey tax free so comit dis c paper |
Re: Treasury Bills In Nigeria by enque(f): 8:38pm On Nov 29, 2023 |
davit:Yes it is. 1 Like |
Re: Treasury Bills In Nigeria by jedisco(m): 7:41am On Nov 30, 2023 |
Hogwarthtrades: The NSE has been sideways since 2008 and only this year exceeded its high of 2008. The years ahead are looking up but then it underperformed in a decade when most major markets were in full swing. Weighting in naira also doesn't do justice to an individuals ROI as the naira has lost on average 10- 12% against the dollar yearly. I.e a 10% return might equate to just holding usd instead 1 Like |
Re: Treasury Bills In Nigeria by Hamachi(f): 7:49am On Nov 30, 2023 |
Nigeria is the joint-largest economy in Sub-Saharan Africa, an oil exporter and an OPEC member. Hydrocarbons generate about 50% of government revenue and more than 80% of export receipts, but agriculture and services dwarf industry as contributors to GDP. Bola Tinubu, the candidate of the ruling party, the All Progressives Congress, won the February presidential election with only 36.6% of the vote. His meagre political capital is already wearing thin as a daring economic reform agenda clashes with unions, and EIU views the momentum for further market reform as being absent. Insecurity is chronic in many areas, with the security forces too overstretched to counter multiple security crises effectively. High inflation, low economic growth and unpopular market reforms present substantial political stability risks in the context. Labour unions are likely to be active, with a high risk of industrial action that affects the economy. Economic growth will be slow in 2024 as a new bout of inflationary pressure and an intensification of monetary tightening lead to a contraction in domestic demand. Growth will accelerate to a multi-year high in 2025 as the shock of market reform passes, and will be boosted by investment in the recently deregulated power sector. Foreign-exchange scarcity will persist in the short term. The Central Bank of Nigeria (CBN) has reverted to heavier currency management after having briefly switched to a "managed float" in June, and a freely-traded naira is not expected even in the long term. Although production is well below the boom years of the early 2010s, Nigeria's oil and gas sector will remain crucial to the prospects of the wider economy, dominating the export profile and accounting for about half of government revenue. Nigeria is a signatory to the African Continental Free-Trade Area agreement. However, the government will take a protectionist approach to regional trade and will do little to encourage regional trade, beyond meeting its obligations on tariff cuts. |
Re: Treasury Bills In Nigeria by emmasoft(m): 10:02am On Nov 30, 2023 |
Let your Detty December money make some money for you before it gets Detty. MMF Rate is responding to High Tbills rates as earlier noted. The MMF rate is on the way up try and go up with it. By tomorrow it will be December, take advantage of increasing MMF rates and make more money this December. I will advise folks to take this opportunity and drop your funds for the festive period and January 2024 in MMF to have better returns. Click the link on my signature to start investing in the Stanbic MMF or contact me. |
Re: Treasury Bills In Nigeria by NL1960: 10:17am On Nov 30, 2023 |
emmasoft: If we drop it in this December period, what are we going to use to buy rice and chicken or travel to the village?. 2 Likes |
Re: Treasury Bills In Nigeria by Foodempire: 10:32am On Nov 30, 2023 |
freeman67: Kindly explain the bolded. I thought there's no withholding tax on treasury bills, is this new? P.s" Got the needed Answers, 10% off the interest is a bit high o. |
Re: Treasury Bills In Nigeria by emmasoft(m): 10:41am On Nov 30, 2023 |
Foodempire: Read the page before this and at the beginning of this page you find the answer. |
Re: Treasury Bills In Nigeria by Hogwarthtrades: 12:25pm On Nov 30, 2023 |
jedisco: Do as you please with the information given. I'm not going to waste time with this naira devaluation or inflation talk on this thread. It amounts to whooping a dead horse at a race track. Shalom! 2 Likes |
Re: Treasury Bills In Nigeria by Tranquility2345: 6:34pm On Nov 30, 2023 |
Re: Treasury Bills In Nigeria by OGHENAOGIE(m): 9:37pm On Nov 30, 2023 |
VeeVeeMyLuv:so one can't do TB this December?? Ah nawa ooo |
Re: Treasury Bills In Nigeria by OGHENAOGIE(m): 9:42pm On Nov 30, 2023 |
VeeVeeMyLuv:when is the next auction and why is Nov 20th the last to bid for TB.. thks for update 2 Likes |
Re: Treasury Bills In Nigeria by VeeVeeMyLuv(m): 9:53pm On Nov 30, 2023 |
OGHENAOGIE:There will probably be auctions in December |
Re: Treasury Bills In Nigeria by OGHENAOGIE(m): 9:56pm On Nov 30, 2023 |
VeeVeeMyLuv:alright I ll check but is there any where one can know current rates for 90 days... 1 Like |
Re: Treasury Bills In Nigeria by VeeVeeMyLuv(m): 9:58pm On Nov 30, 2023 |
OGHENAOGIE:https://www.nigeriagalleria.com/Galleria_Finance/Nigerian-Treasury-Bills-FGN-Bonds-Auction-Results.html 3 Likes 1 Share |
Re: Treasury Bills In Nigeria by OGHENAOGIE(m): 10:09pm On Nov 30, 2023 |
VeeVeeMyLuv:thanks for the feedback.. 3 Likes |
Re: Treasury Bills In Nigeria by Olaide1295: 3:04pm On Dec 02, 2023 |
Chikebrain:I won’t touch that bank with a 10-ft pole. I’ve seen their numbers and it’s not nice. Lots of non performing loans 4 Likes |
Re: Treasury Bills In Nigeria by QuinModah(f): 1:32pm On Dec 03, 2023 |
Olaide1295: |
Re: Treasury Bills In Nigeria by ThisisIkemefuna(m): 10:47am On Dec 04, 2023 |
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Re: Treasury Bills In Nigeria by shizzy7(f): 1:22pm On Dec 04, 2023 |
Hello what's the process of investing in a commercial paper? I Already opened a stanbic investment account but I'm not getting info on cp just their mmf and interest is 11%. OR Which is the best bank or investment house for treasury bills and at what rate will it be? |
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