₦airaland Forum

[quote author=teejay5 post=131858765][/quote]

omoyankee3:
Sure beats US bonds, I will look into buying some. When is the next auction and how can I buy? (I reside in the US)

yesterday,4-8-24.
Every two weeks, every first and third Wednesdays of every month.

Goodday Senior Investors

I have a federal government saving bond that will manure in October 2024. Will the money drop into my account automatically or do i need to write stanbic.

Your urgent reply will be of great assistance.

Thanks

teejay5:
. insert tbil auction picture here

Repatriation/ re-allocation back into equity and real estate shoul commence shortly with this trend in expectation of rate cut.

[quote author=teejay5 post=131858765][/quote]Oops. Rates are going down! 🥺

Mayday mayday. rates are dropping seriously.

Kaybeedon:
Pls can anyone enlighten me on this Tbill of a tin

I would advise you to use google and do your research, just let you know that it’s very low risk investment but be prepared for the uncertainties.

With the lowered rates, I can predict that many banks' bids would fail.

mickky22:
Goodday Senior Investors

I have a federal government saving bond that will manure in October 2024. Will the money drop into my account automatically or do i need to write stanbic.

Your urgent reply will be of great assistance.

Thanks

Drop into your account automatically just like your coupon

Best regards

God bless you Senior Investor

What are the uncertainties?

dunk2011:
I would advise you to use google and do your research, just let you know that it’s very low risk investment but be prepared for the uncertainties.

i invested 8,95 at 19%, 289 days on the 27th of August last month, First Bank.

i investment the interest paid upfront too with the main investment, i didn't collect any interest

I went to the bank today for Full Termination of the investment, and i was told i will be paid 8 in return.

i.e 23 loss in less than 2 weeks

that i was charged based on the current discounted rate

Am really confused.

please help

Ikmontana1:
i invested 8,950,000 at 19%, 289 days on the 27th of August last month, First Bank.

I went to the bank today for Full Termination of the investment, and i was told i will be paid 8,713,000 in return.

Am really confused.

please help

Termination initiated by you will attract all kinds of hidden & open charges from the bank , banks are happy when you come and terminate an existing agreement / investments with them because it will enable them unleash their banking Koboko laden with chilly pepper to flog you and rip you off

Ikmontana1:
i invested 8,950,000 at 19%, 289 days on the 27th of August last month, First Bank.

I went to the bank today for Full Termination of the investment, and i was told i will be paid 8,713,000 in return.

that i was charged based on the current discounted rate

Am really confused.

please help

Was 8,950,000 the amount that was taken from your account?. When you invest in TBs, interest is paid to you upfront.

AngelicBeing:
Termination initiated by you will attract all kinds of hidden & open charges from the bank , banks are happy when you come and terminate an existing agreement / investments with them because it will enable them unleash their banking Koboko laden with chilly pepper to flog you and rip you off

i was told its from CBN, not First Bank

NL1960:
Was 8,950,000 the amount that was taken from your account?. When you invest in TBs, interest is paid to you upfront.

i didn't collect any interest.

i invested the interest together with ok

AngelicBeing:
Termination initiated by you will attract all kinds of hidden & open charges from the bank , banks are happy when you come and terminate an existing agreement / investments with them because it will enable them unleash their banking Koboko laden with chilly pepper to flog you and rip you off

Na so o. The upfront interest dey always sweet people that are new to TBs not knowing that trying to terminate before maturity has some hidden charges. You cannot eat your cake and have it.

am still in d bank, am really confused.

i thought rates has dropped, so i should not be penalised this much for pre mature Termination

NL1960:
Na so o. The upfront interest dey always sweet people that are new to TBs not knowing that trying to terminate before maturity has some hidden charges. You cannot eat your cake and have it.

i didn't collect any interest, and its not funny

NL1960:
Na so o. The upfront interest dey always sweet people that are new to TBs not knowing that trying to terminate before maturity has some hidden charges. You cannot eat your cake and have it.

and i have been doing TB since 2018.

i have done pre mature Termination before, and its not like this

Ikmontana1:
i was told its from CBN, not First Bank

It makes no difference, whether CBN, first or Zenith or Uba or Stanbic or Gtb bank etc they are all guilty of the same offence, waiting for you to terminate your existing investment and they will bring out Koboko laden with chilly pepper to flog the investor or investee

NL1960:
Na so o. The upfront interest dey always sweet people that are new to TBs not knowing that trying to terminate before maturity has some hidden charges. You cannot eat your cake and have it.

Gbamsulotely, end of thread

Ikmontana1:
and i have been doing TB since 2018.

i have done pre mature Termination before, and its not like this

And you do not know that the rate you bought a TB is not the rate that will be used to do a premature termination for you?. The banks are there to make money. Try to do a Fixed Deposit and go and terminate before maturity date. You will be charged a penalty which can be on the interest accrued so far or on the Principal amount.

The gif below is what Nigeria banks like to do to those ( investors & investees)who terminate their investments before time, they have a special Koboko in their strong rooms, kept and waiting for debtors, investments terminators, loan defaulters, those who borrow money and keep their CofO with their banks etc

Grupo:
With the lowered rates, I can predict that many banks' bids would fail.

Like I predicted, Stanbic's bid failed for 91 days. Don't know for the other tenors.

Ikmontana1:
i invested 8,950,000 at 19%, 289 days on the 27th of August last month, First Bank.

i investment the interest paid upfront too with the main investment, i didn't collect any interest

I went to the bank today for Full Termination of the investment, and i was told i will be paid 8,713,587.75 in return.

i.e 236,412.35 loss in less than 2 weeks

that i was charged based on the current discounted rate

Am really confused.

please help

Ask them the discount they want to take on it.

It looks like they want to take 22% discount on the remaining 279 days.

That's too steep, especially now that rates are falling.

You should be able to sell off at 19-20% tops.

I wish there was P2P for this, you would have found someone here that would buy at 18%, allowing you even make a little profit.

awesomeJ:
Ask them the discount they want to take on it.

It looks like they want to take 22% discount on the remaining 279 days.

That's too steep, especially now that rates are falling.

You should be able to sell off at 19-20% tops.

thanks brother

it has been rectified, 36k was deducted from the Principal amount.

i will be credited ok.

and all issues was explained to me, now i understand treasury bills better

awesomeJ:
I wish there was P2P for this, you would have found someone here that would buy at 18%, allowing you even make a little profit.

thanks bro, only 36k was deducted.

i learnt more about treasury bills today

i have to say this

i had an issue regarding terminating my t bills investment, i posted it here so u guys can inform and help,but no i was ridiculed like i dont know what am doing.

thats not cool, nobody have all knowledge, even d first bank official dat attended to me had to call another branch to ask for information cos he too was surprised wen he saw i was to b charged 236k, even he learned today about been charged on d (prevailing discounted rate) wen a t bills investment is about to be terminated.

i just hope we do better by helping ourselves when we ask for information on what we don't know, thanks

Ikmontana1:
i have to say this

i had an issue regarding terminating my t bills investment, i posted it here so u guys can inform and help,but no i was ridiculed like i dont know what am doing.

thats not cool, nobody have all knowledge, even d first bank official dat attended to me had to call another branch to ask for information cos he too was surprised wen he saw i was to b charged 236k, even he learned today about been charged on d (prevailing discounted rate) wen a t bills investment is about to be terminated.

i just hope we do better by helping ourselves when we ask for information on what we don't know, thanks

Every bank has systems that do all these things. Just a click and some information entered and the system computes. Most staff will not even know the behind-the-scenes processes because everything is automated. The automation is to prevent staff short changing the bank or short changing the customer.

Ikmontana1:
thanks brother

it has been rectified, 36k was deducted from the Principal amount. and all issues was explained to me, now i understand treasury bills better

200k in fees and rate is nasty work, do you care to share what the banking error was before it was rectified?