₦airaland Forum

Hello pls can someone help me list the current rate for secondary market for most banks for treasury bills

tempest12:
Which other fixed deposit banks pay upfront and what's their interest rate ?

Depending on tenure.
Let's talk. Check my signature

My August bid of 1.5M for 182days wasn't successful, I really don't know why

The amount is too small?

bassdow:
Come meet us at this thread https://www.nairaland.com/1912965/mutual-funds/388 to learn as much as you can or ask questions and if interested in Stanbic IBTC mutual funds or similar, nothing wrong using this https://www.stanbicibtcfundsmanagement.com/invest-now-l8yyj3l8 to register also. Mind you, you need not visit the bank at all.

Gosh234:
My August bid of 1.5M for 182days wasn't successful, I really don't know why

The amount is too small?

Go for secondary market. Same happened to me. You will be given options to choose from trust me you will be glad you did.

Ivan18888888888:
Hello pls can someone help me list the current rate for secondary market for most banks for treasury bills

The rates are not fixed. They give you what is available for the day is between 8 am to 1 pm every day.

Today rates can not be tomorrow's rate

Pls I opened Stanbic online treasury bill sent to me so I saw primary and secondary pls which one should I click on , primary or secondary

Secondary

Thank you

I am here to learn from the best, who can advise on the best way to learn about treasury bill.

Pls which bank was this and what rate did you bid?

Gosh234:
My August bid of 1.5M for 182days wasn't successful, I really don't know why

The amount is too small?

zagorakis:
I am here to learn from the best, who can advise on the best way to learn about treasury bill.

Best you patiently take time to read few pages from the beginning so you have an idea where you are putting your money.

Let me summarize, Treasury bill is a federal government short term instrument(Doesn't exceed a year) . It is risk free and you can participate via the primary or secondary market. Tenures available in primary market 90,180 and 364days. Rates for secondary market are released every work day. (Tenures can be less than 90days, but but not greater than 365days ie 84,112,146,186,227,321 etc).

To participate, kindly send instruction to your bank via your Account officer or contact any registered/licensed investment company for further guidance

Stanbic IBTC, it's a PMA

Risingcash94:
Pls which bank was this and what rate did you bid?

pafra:
Go for secondary market. Same happened to me. You will be given options to choose from trust me you will be glad you did.

I will consider this

Odunharry:
Best you patiently take time to read few pages from the beginning so you have an idea where you are putting your money.

Let me summarize, Treasury bill is a federal government short term instrument(Doesn't exceed a year) . It is risk free and you can participate via the primary or secondary market. Tenures available in primary market 90,180 and 364days. Rates for secondary market are released every work day. (Tenures can be less than 90days, but but not greater than 365days ie 84,112,146,186,227,321 etc).

To participate, kindly send instruction to your bank via your Account officer or contact any registered/licensed investment company for further guidance

Amazing!
Thank you for this introductory explanation, will read through.

zagorakis:
Amazing!
Thank you for this introductory explanation, will read through.

You are welcome. You can also reach out if interested in fixed deposit with attractive rates. Company is licensed and regulated

Can someone confirm if there will be a Primary Market Auction this week?

In other news, Dangote Cp.

Odunharry:
Can someone confirm if there will be a Primary Market Auction this week?

In other news, Dangote Cp.

Tomorrow 3rd is primary auction.

First bank refused to invest my 4th September maturities for 3rd September primary auction.

Meanwhile, Uba were begging me to use my 4th maturity and I decline, thinking I will invest that of first bank while I use Uba maturity for other things.

Please kindly enlighten what's the right practice

Thanks

RayRay06677:
Tomorrow 3rd is primary auction.

Nice. Thank you.

RayRay06677:
First bank refused to invest my 4th September maturities for 3rd September primary auction.

Meanwhile, Uba were begging me to use my 4th maturity and I decline, thinking I will invest that of first bank while I use Uba maturity for other things.

Please kindly enlighten what's the right practice

Thanks

While I was still with an asset management , you can actually use your maturity for the auction even if it's a day different. I know normally, some will prefer funds to be in your account on or before 3rd. You can try a different branch and hear from them.

Odunharry:
Can someone confirm if there will be a Primary Market Auction this week?

In other news, Dangote Cp.

Please clarify something about commercial papers and money market funds:

For commercial papers, is the interest rate quoted prorated? For example, if 21.15% is quoted for 270 days tenure, is the 21.15% indicated for one year interest rate, meaning to prorate it to 270 days you do 21.15%/365 * 270 = 15.64%? Meaning it is 15.64% that will be paid for the commercial paper of 270 days tenure? Or the 21.15% will be paid for the 270 days CP tenure? Also, are CPs subject to witholding tax? What other fees are charged on CPs?

On money market funds, what are the fees charged and are they charged on the interest earned or charged on the total sum under management? For example, if you put ₦10 million in a money market fund and it earns 10% (1 million) in one year, will the fees be charged on the 1 million earned or the entire 11 million? If on the entire 11 million, what happens when the fund managers don't make any returns? Will they still continue to remove their management fees from your capital?

Joyful365:
Please clarify something about commercial papers and money market funds:

For commercial papers, is the interest rate quoted prorated? For example, if 21.15% is quoted for 270 days tenure, is the 21.15% indicated for one year interest rate, meaning to prorate it to 270 days you do 21.15%/365 * 270 = 15.64%? Meaning it is 15.64% that will be paid for the commercial paper of 270 days tenure? Or the 21.15% will be paid for the 270 days CP tenure? Also, are CPs subject to witholding tax? What other fees are charged on CPs?

On money market funds, what are the fees charged and are they charged on the interest earned or charged on the total sum under management? For example, if you put ₦10 million in a money market fund and it earns 10% (1 million) in one year, will the fees be charged on the 1 million earned or the entire 11 million? If on the entire 11 million, what happens when the fund managers don't make any returns? Will they still continue to remove their management fees from your capital?

CPs is subject to 10% WHT tax on interest amount only.

For the rate yes it's pro-rated. And 15.64 will be paid for 9month.
You can also calculate how much you get
Simply put the discounted rate will be applied on your 11m if you are taking your interest upfront.(11*21.159*265days/100*365)- 265days is roughly 9months. The interest calculation can give you an estimate of your interest after deducting WHT on the interest.
The yield of 25% can also be applied if you are taking interest at maturity. 11m*25*265/365*100).
For money market instrument, each asset management have different means they calculate their fees

There are several ways to calculate the interest amount though. I doubt it is on the principal.

Today's auction rates

enque:
Today's auction rates

Well done

enque:
Today's auction rates

Thanks for sharing. good the rates are gradually increasing. hope it gets back to 20% soon

16% for 364 days at first bank

Union bank 16.3% for 353days. And 15% for 140days

Adegokenath:
Union bank 16.3% for 353days. And 15% for 140days

This should be secondary market

RayRay06677:
16% for 364 days at first bank

They couldn't give you anything close to 17% na wah o

Odunharry:
They couldn't give you anything close to 17% na wah o

That's a function of what they bidded at the primary market. Might be they didn't quote close to 17%.

RayRay06677:
That's a function of what they bidded at the primary market. Might be they didn't quote close to 17%.

Yes possible..

RayRay06677:
That's a function of what they bidded at the primary market. Might be they didn't quote close to 17%.

Stanbic gave 17% for 364days SECONDARY MARKET